News From Terre Haute, Indiana

News

April 4, 2013

ISU grad and one of ‘America’s Top 1,000 Financial Advisors’ offers insight at ethics conference

TERRE HAUTE — Being a graduate of a non-Ivy League school, a young Joe Evelo was worried about competing in a financial workforce full of smart, well-educated people who did not attend his alma mater, Indiana State University.

But through the years, Evelo said he realized that the essence of success is being honest and fair, and doing what is right — rather than what is easy. And his education at ISU prepared him for that.

Evelo spoke about “Ethics and Integrity in the Real World” on Wednesday during the 8th annual Ethics and Corporate Responsibility Conference at ISU.

The native Terre Hautean is now the founder and senior investment strategist for the Evelo/Singer Group, and was recently named as the Top Advisor in Ohio on financial magazine Barron’s “America’s Top 1,000 Financial Advisors.” He has also been recognized as one of the top 100 wealth advisors nationally since 2000 by Barron’s Winners Circle.

Speaking to a student audience, many from the Scott College of Business, Evelo said he was asked to speak about Wall Street’s economic troubles in 2008 and 2009 at the conference. While many people want to find someone or some firm to blame for the financial crisis, he said, an overall negligence in how Americans conducted their financial business contributed most to the hard times.

“I think it was more of a systemic thing,” Evelo said. “I think more people were culpable than just the titans of Wall Street, and we all pay for that.”

Investors were taking too many risks. Clients were being talked into too many risks, and many were allowing their incomes to be manipulated, he said. Lenders were approving home mortgages to people who did not have the finances to pay their bills. And even real estate agents were sometimes too eager to make a sale without seeing the financial consequences down the road.

It all boils down to telling the truth, Evelo said.

“It’s easy to be ethical and honest if you tell the truth,” he said. Though it may be harder to do what’s right, rather than sell what is easy.

When a client wants to make an investment that looks good on the surface, Evelo said he has had some tough times trying to convince people that the future of that investment is a bust.

He recalled that one couple advised by his firm was spending too much of their investment proceeds rather than saving for the future, and he told the couple that. When the economic downturn came, they found that they really had been spending too much, and now in their retirement, they do not have enough money to get by.

Too many financial advisers will bend to their investors’ will, and make a commission on the investors’ money, rather than pointing out that a financial bubble cannot last forever, he said.

The principal of Reversion to the Mean — or averaging out over time — holds true in the financial world, as evidenced when the stock market bubble burst. When the stock market was making 20 percent gains, but technology was making 40 percent gains, many people invested too heavily in technology, and were then hurt financially when the technology market stalled and returned to the “mean.”

Evelo said his firm took most of their investments out of technology and put it into investments that were staying steady. That was a hard sell to clients, he said, but in the end it was beneficial and reduced losses when the bubble burst.

“The lesson in the story,” he said, “is you are going to be presented with things that are easy to sell but not right. I think your clients are going to expect you to inform them of what is the right thing.”

Another thing that happens in his business is intimidation, he said. When he was younger, the Schulte High School graduate admits that he was easily intimidated by slicker, well-educated co-workers.

But he recalled his experience with a client who was wanting to invest in a promising barge business, which was all the rage at the time with young hot-shot brokers. Evelo said he talked with an actual barge owner, who projected that a bust in the industry was coming. In two years, there was a downturn in the barge business, and many people lost their investment. But Evelo had talked his client out of the investment, though it wasn’t easy.

The firm he worked for was sued over those barge deals and had to pay for it, Evelo said, and that was when he realized that if he did his homework on investments, he was as smart as the next guy.

Evelo said he breaks people down into thirds. One third will work smart. Another third will work hard. And another third have integrity and positive attitudes. He likes to hire people with all three characteristics to work in his firm now, he said, and that pays off.

“Our minimum level of acceptance is above-average. Our minimum is hard work, and our minimum is good attitude,” he said. He cautioned the students that they will see a lot of negativity in the world, but keeping a focus on people who are positive has helped his business succeed.

“What I did was found people who were positive, who had a good track record,” he said. “Negative people always forget the enthusiasm of the American spirit. If gas prices are high, they will find an alternative. If gas prices drop, people buy gas. People adapt. Negatives don’t predict the Internet, or anything. Everything is in stasis for them.”

He encouraged the students to find positive influences, people who are upbeat and have a positive spin on the world, since they are more likely to get positive results.

He also encouraged the students to put a lot of time into philanthropy, since that will make them better people.

Reporter Lisa Trigg can be reached at 812-231-4254 or lisa.trigg@tribstar.com. Follow her on Twitter @TribStarLisa.

 

1
Text Only | Photo Reprints
News
  • Camm Steidl ISU Justice system questioned

    David Camm says that when he looks critically at the Indiana State Police today, he sees arrogance, ego and the desire for personal — even monetary — gain.

    April 23, 2014 1 Photo

  • Death certificate delay angers Health Board

    The Vigo County coroner is not signing death certificates in a timely manner as required by law, according to the Vigo County Health Department.

    April 23, 2014

  • MET042314 glove.jpg MARK BENNETT: The memories from a baseball mitt fit like a glove

    Man hasn’t developed the technology for time travel.
    The smell of your old baseball glove can come pretty close, though.

    April 23, 2014 2 Photos

  • Former Parke County teacher arrested on felony charges

    A former Montezuma Elementary teacher — who also had served as president of the Southwest Parke Education Association — was arrested Wednesday on felony counts related to alleged missing funds, according to Indiana State Police.

    April 23, 2014

  • Bucshon has commanding money lead

    Incumbent U.S. Rep. Larry D. Bucshon of Newburgh has a commanding lead in campaign funds over fellow Republican Andrew McNeil of Freedom for the May 6 primary election, according to election reports from the Federal Election Commission.

    April 23, 2014

  • MET042314 arborday dell.jpg City’s first Arbor Day awards named

    Terre Haute and its citizens were recognized on Wednesday night for contributions to the urban forest.

    April 23, 2014 1 Photo

  • kersey turner Turner skips House ethics hearing

    House Speaker Pro Tem Eric Turner skipped a House ethics review Wednesday but claimed in filings submitted to the panel that he did nothing wrong when he fought legislation that would have cost him millions of dollars in profits.

    April 23, 2014 1 Photo

  • Activity Fair is Saturday at park

    Are you looking for fun, afterschool and summer activities for your kids? You can review options a the Greater Terre Haute Afterschool Network Camps and Activities Fair from 8:30 a.m. to 2 p.m. Saturday at the Vigo County YMCA at Fairbanks Park, according to a press release.

    April 23, 2014

  • Children’s charity to conduct fundraiser this weekend

    March for Babies — the March of Dimes premier fundraising event that benefits all babies — will step off Saturday morning at ISU’s Memorial Stadium on the east side of Terre Haute.

    April 23, 2014

  • Villa Grove High School students win state anti-drinking PSA contest

    The State of Illinois on Wednesday announced that students from the eastern Illinois’ Villa Grove High School won the Illinois Liquor Control Commission’s statewide video public service announcement contest. The announcement ceremony at the Douglas County school also served as the statewide kickoff for this spring’s Your Actions Matter! underage drinking awareness campaign.

    April 23, 2014

  • MET 042214 SWIM BULL.jpg Swim by 7 program

    Swim by 7 is a collaborative effort involving the United Way of the Wabash Valley and the Vigo County School Corp. As envisioned, all VCSC kindergarten students would participate in the learn-to-swim program once the new VCSC Aquatics Facility is constructed and ready for use at Voorhees Park.

    April 22, 2014 6 Photos 1 Video

  • Candidates file finance reports

    The Democratic race for judge of Vigo County Superior Court Division 2 boasts the most fundraising of all campaigns for the May 6 primary election.

    April 22, 2014

  • MET042214 earthdaymcclennan.jpg Mayor Duke Bennett leads community discussion on litter

    Talking trash in the neighborhood can get down and dirty.

    April 22, 2014 3 Photos

  • Public hears about grant to clean up E. coli in Otter Creek

    Greg Dunham has known Otter Creek since his childhood. “I walked that creek. I lived in that creek and I was all the time fishing in it, so this was news to me” he said about the concern of Escherichia coli (E. coli) in the Otter Creek watershed.

    April 22, 2014

  • MET042214 elanco.jpg Lilly to buy Novartis Animal Health

    Eli Lilly and Co. plans to acquire Novartis Animal Health for about $5.4 billion, a move believed to strengthen and diversify Lilly’s own animal health business, Elanco.

    April 22, 2014 1 Photo

  • MET 042114 NEW ISU TRACK.jpg VIDEO: Indiana State breaks ground for $4.3M riverside track and field facility

    Indiana State University officials, community leaders and donors broke ground Monday on a new, $4.3 million track and field facility on the Wabash riverfront, along North First Street.

    April 21, 2014 3 Photos 1 Video

  • Panel approves new school benchmarks

    A panel of Indiana business and education leaders were met with boos and jeers from attendees after they voted overwhelmingly Monday to support new math and English standards set to replace the Common Core in classrooms this fall.

    April 21, 2014

  • schaffer, aaron.jpg Man to face several charges in Linton shooting death

    A homicide northeast of Linton is being investigated by the Greene County Sheriff’s Department.

    April 21, 2014 1 Photo

  • aquatic center exterior.jpg Board approves bond structure to fund central pool project

    The Vigo County School Corp.’s $9.8 million aquatics center is “on schedule” and “the budget looks good,” Superintendent Dan Tanoos told the School Board on Monday.

    April 21, 2014 2 Photos

  • Judge: Indiana hasn’t given good reason for same-sex marriage ban

    A federal judge has said that attorneys defending Indiana’s gay marriage ban haven’t given a valid reason why the state should not recognize the out-of-state marriage of a lesbian couple, one of whom has a terminal illness.

    April 21, 2014

  • Police: Death from natural causes for 2 bodies found in home

    Death by natural causes has been ruled in the deaths of two people whose bodies were found Sunday evening inside their Pimento area home in southern Vigo County.

    April 21, 2014

  • MET 042114 NEW FIREFIGHTER.jpg 10 men, 1 woman added to Fire Dept. ranks

    Eleven recruits joined the ranks of the Terre Haute Fire Department on Monday during a swearing-in ceremony at Terre Haute City Hall.

    April 21, 2014 4 Photos

  • Mayor to host Earth Day event for children

    Mayor Duke Bennett has partnered with Indiana State University and the Vigo County Public Library to invite children grades K-5 for an evening of hands-on, environmental learning at the City’s first Earth Day Extravaganza. The free event will be today, Earth Day, from 4 ot 6 p.m. at the library.

    April 21, 2014

  • City to host Arbor Day award reception Wednesday

    Terre Haute’s urban forester and Mayor Duke Bennett will host Terre Haute’s first Arbor Day Urban Forest Award reception at 6 p.m. Wednesday at The Ohio Building.

    April 21, 2014

  • MET 042014 DOUBLE-DEATH.jpg 2 bodies found in Pimento home

    Police were at the scene of a death investigation on Sunday in southern Vigo County.
    “It’s a double death investigation,” Vigo County Chief Deputy Clark E. Cottom told the Tribune-Star at the scene.

    April 20, 2014 2 Photos

  • SPT041614 morrismorris.jpg BOSTON MARATHON: Not intimidated

    One reason Mike Morris — and many runners can relate — has been a distance runner for 30 years is it’s restorative powers. Not to the body but to the mind.

    April 20, 2014 4 Photos

  • MET 041814 HUXFORD PAT.jpg VIDEO: Overcoming symptoms

    Even when he was in grade school, it was obvious Justin Huxford was a special kid.
    He was the first at Rio Grande Elementary School to walk 100 miles around the school grounds over the school year, one of just a handful of kids to meet the goal.

    April 20, 2014 3 Photos 1 Video

  • MET 042014 POWELL EASTER.jpg Answering the call

    Static was the only thing on TV or radio. People were on their knees as they prayed. It was, as if for three whole days, the world stood still.

    April 20, 2014 1 Photo

  • TH wins 8th Tree City USA ‘Growth’ award

    Terre Haute was named a 2013 Tree City USA by the Arbor Day Foundation in honor of its commitment to effective urban forest management.

    April 20, 2014

  • ISU hosts Ukraine panel today

    In Ruth Fairbanks’ morning commute to work recently, she heard two news stories on the radio about Ukraine. Considering her drive-time is just five minutes, it demonstrates how unstable — and newsworthy — Eastern Europe is these days.

    April 20, 2014

Latest News
TribStar.com Poll
AP Video
Raw: What's Inside a Commercial Jet Wheel Well U.S. Paratroopers in Poland, Amid Ukraine Crisis Admirers Flock to Dole During Kansas Homecoming Cubs Superfans Celebrate Wrigley's 100th Raw: Erupting Volcanoes in Guatemala and Peru Video Shows Possible Syrian Gas Attack Raw: Cattle Truck Overturns in Texas Motels Near Disney Fighting Homeless Problem Raw: Obama Arrives in Japan for State Visit Raw: Leopard Bites Man in India Michigan Man Sees Thanks to 'bionic Eye' Raw: Violence Erupts in Rio Near Olympic Venue Raw: Deadly Bombing in Egypt Air Force: $4.2B Saved From Grounding A-10s S.C. Man Apologizes for Naked Walk in Wal-Mart Alibaba IPO Could Be Largest Ever for Tech Firm FBI Joining Probe of Suburban NY 'Swatting' Call US Reviews Clemency for Certain Inmates SKorea Ferry Toll Hits 156, Search Gets Tougher Raw: Anti-Obama Activists Fight Manila Police
NDN Video
Michael Strahan's First Day on "GMA" Amazon's Deal With HBO Leapfrogs Streaming Rivals Stephen Colbert Tells David Letterman His Plan for 'Late Show' Georgetown police officer filmed tripping students Viral: It's Not Pitbull - It's Amy Poehler! Recycling Highlights for Earth Day Lupita Nyong'o Named People's 'Most Beautiful' Peeps Launched into Outer Space NYPD's Twitter Request For Photos Backfires New HBO Go Commercials Capture Awkward Family TV Watching Raw: Leopard Bites Man in India Rise of the Milkbots Jenna Dewan-Tatum Strips Down TRENDING: Brian Williams Raps 'Gin and Juice' on ‘Tonight Show’ Middle School heroes rescue students from burning bus WHOPPER OF FISHING STORY: Florida man catches massive Mako shark Maks Chmerkovskiy's "DWTS" Meltdown The many faces of Mike Woodson Ape Builds A Fire And Toasts Marshmallows In Amazing BBC Video Manchester Utd sack manager David Moyes
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

     

    March 12, 2010

activity
Real Estate News