5 Questions: For Elaine Bedel, financial security is key for clients

Four decades ago, when Elaine Bedel made the fortuitous decision to move in a new job direction, she couldn't have predicted the effects that choice would have on her overall career success.

"I was working at Indiana National Bank in the Corporate Division when I was asked to move into the Trust Division to start a financial planning service," said Bedel, president and CEO of Bedel Financial Consulting Inc. "I accepted the offer, and that was my first exposure to financial planning. I often look back and wonder what I would be doing today if I didn't say yes to that opportunity."

After Indiana National Bank, a short stint with the RR Newkirk publishing firm followed. But Bedel chose to remain in Indianapolis and start her own financial practice when the company relocated to Chicago six months after she joined.

A year and a half later, Bedel joined Coopers & Lybrand, where she was director of personal financial planning, parting ways with that company to found Bedel Financial Consulting Inc. in January 1989. Today, Bedel's wealth management firm has built a reputation by providing fee-only financial planning and investment management services for individuals, consulting services for corporate retirement plans and investment advisory for institutions and endowments.

"I started out doing everything in the firm — meeting with clients, providing financial planning analysis and recommendations, managing investment portfolios and doing correspondence and invoices," Bedel said.

"Today is much different. I have a very talented staff who provides the financial planning and investment management services to our clients, and a terrific administrative staff that provides all the support services. My role is to oversee the processes of the firm and ensure clients are receiving the highest level of care and advice.

"I love what our firm does for people. We provide clarity regarding their financial situations, directions for accomplishing their life's desires and confidence that the future will be what they expect."

Question: What has been the most surprising thing you've learned in your career?

Answer: "Having a competitive nature can serve you well in business. You need to be willing to do what it takes to achieve success."

Q: What does the word "leader" mean to you?

"In one sense, it is being willing to make decisions given the information that you have, and then being accountable for your actions as well as for others who report to you. On another level, it is clearing the pathway for those who come after you, making sure opportunities are available and individuals are willing and able to take up the challenge."

Q: What is the best piece of career advice you've ever received?

A: "Do what you enjoy, and do it better than anyone else."

Q: What's the most challenging part of your job?

A: "As we continue to grow, making sure we have the most talented people doing the jobs they enjoy at the highest level."

Q: What are you most proud of accomplishing so far?

A: "Building a firm that works every day to make the lives of our clients better. We recently celebrated 25 years; my goal is to continue to grow the firm and to transition leadership responsibilities in a way that ensures the firm will be here to celebrate 50 years."

More about Elaine Bedel

Job title: CEO and president of Bedel Financial Consulting Inc.

Education: Master's in business administration from Butler University; bachelor's mathematics from Hanover College.

Prior employment: Indiana National Bank; Coopers & Lybrand.

Family: Husband, Eric; two married sons; three grandsons.

Favorite pastimes: Running, golf and going to sporting events.

Favorite musical artists: The Beatles, Cat Stevens, Harry Chapin.

Favorite quote: "Go confidently in the direction of your dreams." — Henry David Thoreau