Marion E. “Bud” Shore, CPA/PFS, MBA
There have been three events in my life that informed me of the man I was to become for the rest of my life: a person concerned about the safety, security and protection of others.
When I was young, my parents worked multiple jobs to support our family, so I spent a lot of time with my grandparents. Behind their house was a railroad track frequented by hobos traveling from town to town. Often, my grandmother would invite these strangers in for warm meals and welcome respite. As a small boy growing up in difficult times, I didn't think much about it. It was only when I matured that I grew to appreciate and learn from what she did. My grandmother’s welcome may have been a small act of kindness, but they were extraordinary steps to comfort others whom she didn’t even know.
Years later, my extended family and I rented a Florida vacation condo with a private beach. One morning, my brother-in-law, a big and bold guy, decided to swim out as far as he could go. We didn’t know the public beaches had posted red-flag warnings of inclement weather that day. I was on the beach with my wife and sister-in-law when we heard a faint cry for help. My brother-in-law was caught in an undertow! As a former lifeguard, I knew what to do. But could I still do it? I looked for a boat or anything that might help – but there was nothing. I decided to try to reach him anyway, because not trying was unthinkable. The high waves kept tossing me around, and I wasn't sure I was going to make it. When I finally got to him, I realized we had drifted over a shallow sandbar. “Stand up,” I yelled at him, but he didn’t understand. I tried again: “Look, I am standing. You can too.” He finally trusted me and stood up. We walked down the sand bar to the beach and back to our condo – both wiser for the experience.
I did not know it at the time, but these and other experiences were preparing me and my family for one of our greatest challenges to date: my lymphoma diagnosis in 2000. For me, the battle was about mind, body and spirit. To beat the odds, I refused to allow any negative thoughts to find a home in my mind. Of course that is a difficult thing to do. From time to time I found them creeping in anyway. I would allow them to rent short-term space, but I made sure they were quickly evicted. I resolved to turn the fear and anxiety into bravery, to convert the natural “Why me?” into “Why not me?” I kept reminding myself that, while my physical body had a disease, my spirit did not. I would not allow the bodily disease to destroy my faith and hope. And it did not. I have been cancer-free since 2000.
I certainly would never have wished for cancer. But from it, too, I have grown to be who I am: someone with experiences and expertise to share, to help others face their own life’s struggles.
Jay Bumbalough, CPA/PFS
My story begins as a young child, when I spent many hours working the corn, bean and berry fields on my grandfather’s farm. Every summer during high school, I also worked for my father. He owned his own local business helping people move their belongings from one house to another. It wasn’t glamorous by any means. In fact, it was hard, physical labor. But it taught me early on how to be conscientious of other people’s property, because sometimes even a small, seemingly modest item would be of great value to its owner. Customers would tell me where they wanted their cherished objects placed, and they would watch to see how we handled them. I learned to listen carefully to each customer, and act accordingly.
After discovering that hard work, discipline and a respect for other people’s values were keys to success, I decided to apply that understanding to my chosen career in accounting and finance. I attended Ball State University, received an internship at Ernst & Young (one of the largest accounting firms in the world) and joined the firm upon graduation. After Ernst & Young’s corporate experience, I transitioned to a smaller, family-owned company, where I gained first-hand experience in building, growing and transitioning a successful regional business.
Then, one day my mother asked me to look over my 86-year-old grandfather’s tax return and investments. I was alarmed that my grandfather’s broker had him heavily invested in higher-risk equities. I remember that day, sitting at that simple Formica table, how my heart and mind told me that I needed to help people like my grandfather avoid these kinds of common investor mistakes.
The mistakes are usually made when brokers sell highest-commission products to their clients, whether or not it’s in their clients’ highest interest. In other words, many financial intermediaries have forgotten the basics: Listen carefully to each customer, and act accordingly.
I wanted to bring those basics back to wealth management for business owners and others in my community. In 2001, I joined Shoreline Asset Management to do just that.
The Moral of Our Stories
In caring for our clients’ wealth, we are guided by lessons learned from our own life stories: Reaching one’s goals takes experienced planning, perseverance and, often, a helping hand.