Our guest speaker this past Tuesday was one I had eagerly anticipated having in class for some time for a variety of reasons. For one, knowing how many of our graduates go into finance-related jobs and careers, I look to have at least one finance-related entrepreneur as a guest each semester; something I have failed to achieve at times in the past. Also, our guest was a first-time speaker in the class and an alum of Monmouth College whose visit had been discussed and arranged well in advance.

William “Bill” Hurckes’81 founded and presently heads up Hurckes – McCord Financial Management, a full services financial planning firm based in Peoria, IL (see: https://hurckesmccord.com/ ). His guest-speaker appearance in the class exceeded my expectations; just as Bill’s firm aims to do with its clients. Not only did Bill’s financial planning expertise come through loud and clear but his “entrepreneurial story”—starting as an Education major at Monmouth College then a college and high school basketball coach—was truly captivating and inspirational. We learned, perhaps above all else, that being a successful financial planning entrepreneur is certainly not “all about” knowing investments and other financial planning tools. Instead, Bill Hurckes shows us that success in the field takes patience, keen listening skills, some level of psychological understanding, and becoming a trusted  expert in worrying about complex things that many persons would rather pay someone else to worry about for them than face themselves. Below, class blogger Simran Arora prides further detail on Mr. Hurckes’ ongoing entrepreneurial journey.

Prof. Gabel

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Bill Hurckes graduated from Monmouth College in 1981 with a degree in education. After his graduation his dream was to be a basketball coach. So he began teaching and coaching at the high school level in 1982.  In 1986, he moved up to the college level as a assistant football and and head women’s basketball coach at—Monmouth College’s chief rival—Knox College (in nearby Galesburg, IL). He worked in Knox for four years as a hardworking coach.  Soon he realized that his family was getting bigger and their needs were increasing too. This is where his ongoing entrepreneurial journey began.

He decided to get a part time job that would make more money and that would allow him to be with his family (as his two sons were growing up). A coaching colleague invited him to sell life insurance; he had never thought about it and didn’t have any plan for this opportunity.  So he believed in himself and worked as an agent for selling life insurance as his part time job.  He made this decision and didn’t regret it. He maintained his coaching positions at Knox while he began his second career.  A turning point came in 1992 when he decided to leave his dream job of teaching and coaching and stepped into a new business—based upon but expanding on his part-time insurance sales work—where he didn’t have any business plan and no one to work with him. He also made another major decision by moving his family back to central Illinois, and made a home in East Peoria, Illinois, where he and his wife still live.  Bill named his financial consulting business “Hurckes and Associates (even though there really were no “associates”).  As he told the class, at this point he was really scared and uncertain about his future.  But things have worked out very well for Mr. Hurckes now 25 years later.

In the early years, Bill spent much of his time going to people’s homes to discuss his services and products.  As his business grew, his main focus went from insurance needs to financial/investment planning needs.  After acquiring the appropriate licenses and education, Bill turned his insurance firm into a full service financial planning office. He said that most of the people who come to him are because of client referrals and because of his reputation as someone who can be trusted to manage the client’s money and future. He serves his clients diligently and gives them helpful advice on several key aspects of their financial situations. He told us that with his strong menu of “Gold Medal Services,” he and his associates—he does now have associates—give the client a comprehensive review of tax planning, investment plans, retirement planning, risk management and estate planning

Mr. Hurckes informed the class that he determined that instead of investing in traditional advertising/marketing, they found it more beneficial to spend money on events for his clients, which are encouraged to bring their friends or family members.  They provide two type of events; educational workshops and client fun events.  The workshops are on a variety of topics pertinent to the financial planning process.  The other events are not sales-related events but just fun get-togethers where clients and their guests can come and chat, have a good time, and get to know Bill and the other members of his firm.

At the end of his talk Mr. Hurckes provided some great advice for the students. He said that we should “always follow the heart.” Here he stated that there are people who will guide or misguide us but that no matter what we should just follow what we really value in life. In addition to this he also said that we should “always be passionate” about the work we do (and that if we do this we will enjoy our futures much more).

Simran Arora