After decades helping others build wealth, John Marshall sails into retirement
John Marshall isn’t taking a slow boat to China, though the “slow boat” idea appeals to him.
That’s why he’s climbing aboard a cruise ship in the near future to explore the waters off South America, including sailing past Cape Horn. The time the trip takes is of no consequence to Marshall, who has retired at long last.
After 46 years of serving this Colorado River community, the Lake Havasu City man has sold his financial consulting practice — John Marshall & Associates — and is ready to do some globe-trotting.
“I’m looking forward to spending time with family and traveling around the world,” Marshall said Tuesday afternoon.
He is handing over the reins to Heath Haynes, a six-year Havasu resident with 18 years’ experience as a financial consultant. Haynes was most recently affiliated with LPL Financial, an investment and wealth management service. His first day on the job as leader of the firm was Wednesday, although he has been at John Marshall & Associates for several months to get the lay of the land and familiarize himself with the company’s client base.
Sizing up situations accurately is one of his strengths. Haynes is a former Major League Baseball player. He was a pitcher for the Montreal Expos when he was in his mid-twenties.
Marshall has been wanting to retire for some time, but finding just the right person to succeed him was a challenge.
“I’m extremely happy about Heath. He was hiding in plain sight when I found him,” Marshall said.
For his part, Haynes said he looks forward to greater involvement in the Havasu community.
“I’m honored to be able to keep the practice going that (Marshall) has established. It’s been a joy to meet the clients and hear their stories. Many of them are true Havasu pioneers,” Haynes said.
Marshall himself could be considered a Havasu pioneer. When he established his local practice in 1973, Havasu’s population hovered around 5,000, there wasn’t State Route 95 and there were no traffic signals in the city.
“My office had a desk with three chairs and a telephone. No one called,” Marshall said. “I sold life insurance at night to keep the business open.”
What a difference four decades made.
“We have been in Havasu 46 years as the oldest and continually operating investment firm,” he said.
Reflecting on the changes he’s seen, Marshall said the early to middle years of building his business were the most fun for him.
“It’s because of the friendships that evolved. Some of my clients are like family. But as far as the investment business is concerned, everything has changed. Regulations? It’s gone from very under-regulated to very over-regulated. Technology has made a big difference in how we do business. And there are so many investment products now,” he said, noting that the number has easily grown ten-fold from when he started.
“The day I got licensed in 1967, the Dow was at 863. The big question back then was, will it ever hit 1,000? Today, it’s at 26,951. Yes, a lot has changed.”
Despite the changes, Marshall and his investment counseling team of Haynes, Dan Sickles and Sean Goldney agreed that helping investors small and large grow their wealth never goes out of style.
“People need people like us,” Marshall said, referring to trying to handle one’s own investments. “If you don’t know what you’re doing, you can get in a lot of trouble quickly.”
While Marshall’s name will eventually be removed from the building at 1890 N. McCulloch Blvd., his legacy at the newly-named HSG Investment Center will live on, Haynes said assuredly.
“My job is to build trust that John has built over his lifetime,” he said.
“The continuity and experience level here is very high,” Marshall said.