“Don't dwell on the past, but plan for the future”

In his statement, Ralph Short, the principal owner of Welcome Home Financial Partner, describes that the firm protects families, lifestyles, wealth, and retirement income. Each client is unique, and Richmond's top financial services organization helps clients create financial confidence and customize retirement income strategies. They shape financial decisions to achieve goals! They manually assess income and help people feel secure by understanding their financial situation and goals. The firm is BBB-accredited and values client relationships.

"Controlling his own destiny" was Ralph's primary motivation for founding his own company to help clients. Ralph had managed two businesses, the first of which was sold after it became profitable, and the second of which was an international firm that gave him a stake in the company. The only requirement was that he declines the current job offer from a large association to head the Agri Credit Division and fly to Germany to sign paperwork. Later in Germany, he was instructed to return home and finish the operation. The German government established a law prohibiting the use of overseas corporate losses against domestic earnings. He was then a 28-year-old man with a wife and two children under the age of five and without a job, but he was determined to control his own fate and establish his own business.

Dr. David Kohl was Ralph’s graduate professor and mentor. They developed a plan to graduate within 16 months. Since 1981, they have collaborated on projects including the Young Farmers Institute for Farm Credit, with topics discussing company business planning, transition, and family issues including retirement. He does read a lot and admires Lee Iacocca and Steve Jobs. "Let's go invent tomorrow rather than worrying about what happened yesterday!" is his favorite Steve Jobs quote. Serving as an officer in college organizations, joining business organizations such as the Chamber of Commerce, and assisting charities in raising funds were all life experiences that aided his development.

Ralph believes in open communication and ensuring everyone is on the same page to achieve goals. He suggests leaders set the agenda and that judgments should be made quickly based on evidence, experience, and results. In his view, the fear of making a mistake is worse than making the wrong decision. Leaders must be flexible enough to change course if a decision fails. Besides, Ralph values their capacity to listen to clients above all else and assumes that it's hard to advise without knowing what the client's goals are.

Ralph explains that their ideal clients are mostly closely held local businesses, middle- to upper-middle-class individuals with investable assets ranging from $250,000 to $3 million who are concerned about retirement and don't want to run out of money. These consumers are from hardworking households without trust funds who paid their bills and saved money. Due to pension cuts, their retirement alternatives are infinite, but on their shoulders. Their knowledge of investments and financial management was limited at home.

He shares that past generations retired with a gold watch and pension if they worked for a huge corporation with social security, but he informs clients that they have many more options than previous generations. Working in their business keeps them from working on it. They relieve the stress of retirement planning for business owners and individuals nearing retirement. Their "roadmap" approach (cash flow analysis) helps clients visualize their retirement and provide financial suggestions.

Ralph thinks that people who own businesses need to keep getting better by going to seminars, reading, and coming up with new ideas. While pursuing his Master's degree, for Ralph, it seemed that real-world, common-sense business methods were taking a back seat to academic techniques, but he feels people can relate to common sense. The COVID-19 epidemic was his best business experience; it freed his mind. He knew businesses would fail if they continued down the same path. Sales for the company have never exceeded $12 million. He therefore implemented an entirely new marketing campaign and has grown 20% annually since. According to staff, that would be the ceiling. They pushed for the new marketing strategy, and within two years, 25 million in sales were reached. Instead of worrying about the magnitude of the goal, they concentrated on the fundamentals.

They currently operate out of two locations, and a third will launch in March. In order to offer another product line, they established a new division. In Ralph’s view, with the help of the new hires, the company will be able to expand nationwide and reach sales of more than $50 million in the next five years. He believes his realistic, individualized advice will help their clients breathe, relax, and sleep at night! IE