March 16, 2020 BARRON’S S15
AMERICA’S TOP 1200 FINANCIAL ADVISORS 2020
During more than 25 yearsas a financial advisor at
Edward Jones in Wilson, N.C., Kim Hoffman has
adapted to new technology and the expanding needs of
clients without giving up what she believes sets the best
advisors apart from the rest: the emotional quotient.
This means seeking to deeply understand clients’ con-
cerns, passions, fears, and their families. “It’s only then
that we can base our advice on their goals,” says Hoffman,
who has almost 700 clients and oversees $426 million.
“We have a number of tools at our disposal—software,
questionnaires, etc.—but our biggest assets are our eyes,
ears, and empathy.”
Lately, she has been on call for clients looking for a
reality check, after the coronavirus triggered a plunge in
the stock market. “It’s unlikely market anxiety will sub-
side quickly,” Hoffman says. “We believe global GDP
and corporate earnings estimates will need to be revised
lower for the first half of 2020. But we also doubt this
will permanently impair the broader fundamental back-
drop of economic expansion and low interest rates, sup-
porting the case for the bull market to persist.”
If the outlook changes and the economy does slip into
a recession, or certain industries suffer a major slow-
down, she is prepared to make tactical changes based on
a client’s income needs, risk tolerance, and time horizon.
“We’re buy-and-hold, not buy-and-forget,” she says.
Hoffman, 58, constructs portfolios with passive and
active managers. She employs a tailored income-generat-
ing strategy—which could mean a laddered bond portfo-
lio, annuities, or a combination, depending on client cir-
cumstances—and some cash equivalents for emergencies.
Her clients often sign on with her during major life
changes, such as retirement or receiving an inheritance.
She views estate planning as one of her biggest chal-
lenges, as it can raise sensitive issues. “You may find
some spending habits need adjustments—if children are
spendthrift, for example,” Hoffman says. “I look for dif-
ferent ways to find solutions.”
Hoffman believes her strong Southern values, which
prioritize relationships and family, are what drive her to
build strong ties with her multigenerational family
clients—and ultimately help her deliver an effective,
customized financial plan.—K.H.
Photograph byJILLIAN CLARK$426M $1M $2M
Total Assets Typical Account Typical Net Worth
Wilson, N.C. No. 16
KIM
HOFFMAN
Edward Jones