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Financial Wellness Programs: An Essential Benefit For Employees and Employers


Vice President, Retirement Services
(405) 608-8007

In my role as vice president of retirement services for Heritage Retirement Plan Advisors, I have the pleasure of speaking with employers and employees about saving for retirement and financial wellness. The benefit to employees is obvious: more financial security and less anxiety. The benefits to employers are less obvious, but just as important, because if employees’ money problems are not addressed, it can lead to higher health care costs, absenteeism and lack of productivity.

Financial wellness can be achieved through good financial decisions based on a basic education in personal financial management. Unfortunately, many people lack this understanding.

When I meet with people, the three most common problems I find are 1) debt management, 2) budgeting and 3) savings. The result is lost efficiency and absenteeism – both of which impact employers’ bottom line. In addition, financial stress can undermine an employee’s ability to complete projects efficiently.

That’s why many organizations are now seeing the ROI of financial wellness programs that go beyond understanding traditional 401(k)s to offering support, information and training that address a broad range of employee personal finance concerns. And high-touch methods like one-on-one coaching, seminars and phone support are some of the most effective for delivering personal financial education to employees.

Employers are concentrating on finding ways to incorporate financial health into broader initiatives that include physical, emotional and social well-being. These initiatives include helping new-to-the-workforce individuals pay off their student loans and assisting near-retirees with navigating the retirement process – offering tools, resources and educational campaigns designed to help workers gain more solid financial footing.

For example, I had a client who had a large number of employees who were at or nearing retirement age. While salary deferral rates were strong, many of the employees were not financially ready to retire because of several important factors outside of the retirement plan, such as outstanding loans, credit card debt and medical expenses.

To help address these concerns, our team created and coordinated a targeted communication plan where wellness coaches sat down and evaluated everyone’s financial issues one-on-one. Then, we developed a customized program for each employee, with definable metrics to measure and monitor improvement.

The key to this program was to look beyond the spreadsheets of participation rates and plan balances, and treat employees with the care and concern normally reserved for close family members. By doing so, we dramatically improved each individual’s situation, which had a direct effect on their emotional and financial well-being.

There is no “one-size-fits-all.” Each employee has unique needs, so employers should provide a program that encompasses a range of options, including basic information about investing and saving, as well as topics like paying off student debt, estimating a family emergency fund and planning for health-care out-of-pocket needs. And it’s never too early or late to evaluate future retirement income savings goals.

The important thing to remember is those who have bad financial habits did not create them overnight, so they cannot be fixed overnight. Taking small steps toward addressing each topic will help avoid employees feeling overwhelmed. I enjoy the fiduciary responsibility and opportunity of working with employers to establish a tailored plan that allows employees to create healthy habits which will reduce financial stress and ultimately increase the bottom line – for everyone.

Setting Expectations: How Risk Affects the Return on Your Investments


Chief Investment Officer
(405) 608-8662 |

The idea of expected return is critical to making investment decisions. Expected return is simply the annualized growth and income an investor expects to receive on a particular investment, over the time the investment is held. The term is often applied generically to classes of investments like stocks or bonds.

All other things being equal, the higher the expected return, the more attractive the investment. That’s pretty simple, but as we all know, all other things are not equal. The first “other thing” that investors must be concerned with is risk. Academics and many finance practitioners define risk as the volatility of returns. Volatility (the actual academic term is standard deviation) is, simply put, the expected range of possibilities for the value of an investment over a certain period of time.

A simple investment, such as a $1,000 bank deposit guaranteed to pay 2% for a year plus the return of the $1,000 at the end of the year, has almost no risk. And so, we are able to calculate with great precision the value of such an investment at the end of each year. A bank account is a very safe investment and has nearly zero volatility.

At the other extreme of risk might be an investment in the stock of an early-stage technology company. Very generally, the stock price (I have intentionally not used the word value) of a technology company represents the market’s expectation for earnings (and dividends, if any) and how fast these might grow many years into the future.

These expectations for growth and earnings can change rapidly and sharply due to changes in sales, new products, competing products, new regulations, and a host of other factors. As investors digest ever-more information, the stock prices of these companies can change rapidly. Both up and down. This volatility, which comes from an uncertain future, is one important form of risk.

The real risk for most of us in making investments, however, is the risk of losing money. And to be more specific, it’s the risk of losing purchasing power. Not only do we need a return of our investment, we need a return on our investment in order to keep up with inflation and the rising prices of clothing, housing, and other necessities (including comfort). And the kinds of investments likely to keep up with inflation are usually not the investments that have near perfect certainty about their future values (like the bank account).

We certainly want to avoid investments where the probability of losing money is too high. But sometimes, in the right proportions, a collection of riskier investments, including some that unfortunately turn out to be losers, makes sense. Howard Schultz, the founder and former CEO of Starbucks, once said that in 2008 he believed his company was seven months away from insolvency. There was a real risk that an investment in Starbucks at that time would end up as a total loss. Instead, 11 years later, the company is now worth $50 billion.

Many investors have come to believe that common stocks offer very good expected returns. They do – but they come with volatility. Stock prices don’t go up in nice straight lines and often they go down. To earn the high returns that common stocks can offer, one must be prepared to give them time – certainly more than five years – and be prepared for the times in between when owning stocks doesn’t feel very good.

Contact us to learn more about our investment management services.

4 Succession Planning Tips: How to Transition the Family Farm or Ranch to the Next Generation


Vice President, Relationship Manager
(405) 608-8662 |

It is a life-changing experience when children receive a family farm or ranch from their parents. For many families, their farm or ranch is not only their largest financial asset, it represents the collective blood, sweat and tears of generations of family members.

For the children, the transition adds an extra level of importance – and due diligence – because they want to make sure Mom and Dad are well-positioned financially and that each sibling is treated equitably. There’s no cookie-cutter solution to transferring a farm or ranch to the next generation, but here are four tips that can help the process go smoothly:

1. Get the entire family involved in the succession plan Transitioning a family farm or ranch should be a family decision. Chances are that not all siblings will want to follow in their parents’ footsteps, so it’s important to get everyone involved – and together at the same time – at each step of the process. When discussing the transition, be sure family members share their goals and vision for the family farm/ranch.

2. Create an itemized list of assets, liabilities and related documents A key step in building a transition plan is to conduct an inventory of assets and liabilities. The inventory should include assets such as farm/ranching equipment, livestock/harvested crops, real estate and retirement savings. Liabilities should include mortgages, personal loans and other debts. Also, collect financial statements, tax returns, deeds to real estate, mineral/timber rights agreements, lease agreements and wills and related estate planning documents. You need to know what you own, what you owe and how much income is being generated so you have an accurate picture of the financial health of your family farm/ranch. Remember, succession is not an event; it’s a process that often takes several years to complete, so the better prepared you are, the smoother it will go.

3. Bring in experts to help you along the way Transitioning a family farm/ranch is not a do-it-yourself project. There are complex tax, accounting and legal issues at the local, state and federal levels that need to be sorted out so your succession plan achieves the desired results. Attorneys, accountants, insurance agents and wealth management experts can bring the expertise needed to navigate challenges along the way. While this may seem obvious, it’s important to only choose advisors who are experienced in agriculture and succession planning. This isn’t the type of project where you bring in a friend-of-a-friend who can do the work for less than what a veteran ag expert would charge. Also, make sure family members agree on your advisor team selections.

4. Create and implement the plan Only around 30 percent of family-owned businesses make the transition into the second generation and 12 percent into the third generation. A sound business plan – agreed to by your family and team of advisors – will help overcome obstacles along the way and smooth the transition. The plan should have measurable goals for both the short and long term. It’s also advisable to hold monthly family meetings to review progress and modify the plan if necessary. Succession planning and implementation isn’t easy, but it can certainly be rewarding when the plan is executed correctly. And by following these steps, you’ll successfully transition your business from one generation to the next and preserve your family’s legacy.

Closing office at noon today.

Due to severe weather threat today in Oklahoma City, we will close at noon to ensure the safety of our staff and partners.  Please stay safe and weather aware!

AmeriTrust and Heritage Trust Deep Oklahoma Roots: Past, Present and Future


Chairman, Heritage Trust Company & Vice Chairman, Argent Financial Group
(405) 608-8622 |

Bond Payne

The official history of Helmerich & Payne (H&P) recounts the beginning of a model partnership and friendship that began in 1920. The company describes on its website how two different but ambitious individuals launched a leading energy business nearly 100 years ago:

“Walter ‘Walt’ Helmerich II – an outgoing, adventure-loving barnstormer from Chicago and William ‘Bill’ Payne – a quiet, hard-working microbiologist from Shawnee, Oklahoma: From this unlikely pairing was born a deep friendship and the oil and gas drilling company that still bears their names.”

This legendary partnership lasted a lifetime, and eventually passed to the next generation. Mr. Helmerich’s son, Walt Helmerich III, and Bill Payne, my “Papa,” served together as directors of the Liberty National Bank & Trust Company, one of Oklahoma’s great financial institutions and another successful partnership between Oklahoma City and Tulsa. And because of its strength and support at both ends of the turnpike, Liberty was one of the few Oklahoma banks to survive the 1980s oil bust.

Liberty’s trust department gave birth to Heritage Trust Company when, after the bank sold to an out-of-state financial institution, some of its trust customers and trust officers came together to form a locally owned and operated, independent trust company. That vision and tradition remain strong today.

AmeriTrust of Tulsa shares a similar tradition, having been born out of a big bank trust department and enduring a series of mergers in the 1990’s before forming AmeriTrust in 1997. J. Harvie Roe, AmeriTrust CEO is a true pioneer in the trust and financial planning business, and his steadfast commitment to his clients made AmeriTrust a model for the industry.

So it seemed perfectly natural for Heritage and AmeriTrust to join together in 2018, forming a new Oklahoma partnership. The two companies represent hundreds of Oklahoma families and administer more than $3 billion in financial assets, mineral interests, farm & ranch properties and closely held businesses on their behalf. It is a partnership that has deep roots in Oklahoma history, represents our state’s two largest cities and will serve the next generation of Oklahomans wherever they may go.

We look forward to working together, growing together and serving Oklahoma together for generations to come. How can we serve you and your family?

3 strategies to help retirement plan sponsors manage nondiscrimination testing

Originally published on on January 9, 2019

Managing Director, Argent/Heritage Retirement Plan Advisors
(405) 608-8660  |

With 2018 now over, company retirement plan sponsors should start the new year fresh and revisit nondiscrimination testing to ensure contributions are within federal limits and the program is designed to maximize employee participation.

January is the perfect time for company benefits executives to reexamine their retirement plans now that they’ve finished year-end tasks for other essential programs, such as health insurance open enrollment (and filing all the necessary paperwork required by federal and state regulators).

One of the best places to start is by taking a deep dive into nondiscrimination testing to see if your plan is in compliance with federal regulations.

The IRS requires companies perform annual nondiscrimination testing on their qualified retirement plans – for example, a 401(k) and some 403(b) plans – to ensure highly compensated employees (HCEs) do not receive preferential treatment over non-highly compensated employees (NHCEs).

Use nondiscrimination testing

In general, there are two primary nondiscrimination tests: actual deferral percentage (ADP) and actual contribution percentage (ACP).

Actual deferral percentage (ADP): This test compares pre-tax and Roth contribution percentages for HCEs to the average salary deferral percentage for NHCEs. Employers pass if the ADP for eligible HCEs doesn’t exceed the greater of the following:

  •  125 percent of the ADP for the group of NHCEs,
  •  Or the lesser of:
    •  200 percent of the ADP for the group of NHCEs, or
    •  The ADP for the NHCEs plus 2 percent.

Actual contribution percentage (ACP): This test examines employee after-tax and employer matching contributions and compares the percentages for HCEs versus NHCEs. Employers pass if the ACP for the eligible HCEs doesn’t exceed the greater of the following:

  •  125 percent of the ACP for the group of NHCEs,
  •  Or the lesser of:
    •  200 percent of the ACP for the group of NHCEs, or
    •  The ACP for the NHCEs plus 2 percent.

If a company’s plan fails the ADP or ACP test, plan sponsors have two and a half months after the end of the plan year to return excess contributions to HCE employees to avoid a 10 percent penalty.

Distributions of excess contributions can be done any time during the plan year. Failure to make corrections could result in the plan losing its tax-exempt status.

Adopt non-qualified deferred compensation

The rule of thumb is employees should save 12 to 15 percent of their salary for retirement. Unfortunately, due to lower participation and contributions from NHCEs, most HCEs are prevented from meeting that saving rate.

One way to avoid non-compliance is adopting a non-qualified deferred compensation for HCEs, while also encouraging NHCEs – through webinars, company meetings and related activities – to maximize their contributions.

Monitor contributions

Monitoring contributions to make sure a retirement plan remains in compliance can be daunting. To keep your program in compliance with the IRS and help your employees save for retirement, consider these three strategies:

1.Review last year’s nondiscrimination testing

Plan sponsors should examine last year’s ADP/ACP test results and compare it to the current HCE contribution percentage. This will help plan sponsors determine which NHCEs are able to increase their contributions before year-end. It will also show if any HCEs over-contributed to the plan and how much should be refunded. It will also serve as a helpful benchmark for determining contributions for HCEs.

2. Set up automatic enrollment

Automatic enrollment is one of the most effective ways employers can increase plan participation. Once the employee onboarding process is set up, automatic enrollment is easy to manage and results in increased participation. One study showed auto enrollment plans resulted in participation rates of more than 90 percent compared with only 50 percent for plans that require employees to opt in.

3. Consider a Safe Harbor plan

Per IRS regulations, a Safe Harbor plan requires a mandatory contribution by the employer into the retirement account for every eligible employee.

In return for treating all employees equally, employers can automatically pass ADP/ACP testing.

To qualify, employers have two options:

  1. Contribute a minimum of 3 percent of every employee’s salary (regardless of participation in the plan) or
  2. Provide a minimum contribution of 100 percent match of the first 3 percent of employee contributions and 50 percent of the next 2 percent.

Poring through retirement plan contribution data isn’t the most exciting way to start the new year. But if you follow these three tips, you’ll be in a better position to pass nondiscrimination testing, help employees save more for retirement and start 2019 on a positive note.

Earning Your Trust in 2019 and Beyond


Chief Development Officer
(405) 608-8654  |

Aaron Jack

J. Aaron Jack

As we turn the calendar to 2019, I’ve been reflecting back on our progress at Argent over the past 12 months. In short, 2018 was busy! From the inside, our growth has felt measured and steady. But when I take a step back and look at the whole year, it’s amazing how much we’ve accomplished.

In addition to finalizing some important acquisitions — Independence Trust in Nashville and AmeriTrust in Tulsa — we opened a number of new offices, including one in New Orleans and three in Texas (Austin, Dallas and Fort Worth). All have outstanding growth potential and enhance our footprint throughout the region. In addition, bringing Independence Trust and Live Oak Bank’s trust business into the Argent family helps us diversify our offerings and solidifies our company as an industry leader in funeral and cemetery trust services.

We also significantly increased our presence in Birmingham by hiring several key professionals and establishing a new trust operations center. This center allows us to centralize and streamline our back-office operations with specialized, state-of-the-art software. Bringing these responsibilities in-house creates greater efficiency and flexibility, which allows us to enhance our client service and communication. This was an important step for our company’s future.

Overall, our sustained growth has been noteworthy, as evidenced by Argent being named to the Inc. 5000 as one of the nation’s fastest-growing private companies. But none of this is possible unless we continue to employ and develop highly capable professionals. We’re proud of the recent additions we’ve made across our footprint and the success of all our colleagues. Throughout my travels across the company, there is always a common theme that our professionals say has driven their success: a relentless focus on serving our clients.

At Argent’s core, we have a service mindset. We serve one client at a time, one day at a time. If I’ve learned anything over the years, it’s that no single client is alike. A key difference for Argent is our ability to customize our approach and service to deliver the client exactly what they need. Our scale and sustainability allow for us to bring comprehensive internal resources to the table to take care of our clients.

As we wind down 2018, we’ve seen a volatile few months for the stock market after several years of strong growth. Some skittishness on the part of investors is understandable, but what gives me comfort is that our professionals are highly experienced and remain focused on the long term. Many of them have been in their jobs for decades, so their deep understanding of the market’s idiosyncrasies helps our clients feel confident that they’re on the right track financially.

Looking out into 2019, we’re going to stay mindful of where our industry is heading. We’re always aware of technology advances and other changes in our industry, and our flexibility and creativity will continue to allow us to serve the unique needs of each relationship.

No matter what ups and downs the market may experience, clients are ultimately looking for peace of mind and to be served well — those things aren’t going to change. We will serve with humble confidence and keep only our clients’ best interest in mind — those things won’t change either.

We’re incredibly grateful for the opportunity to serve and wish you and yours a prosperous 2019.

Heritage Institutional Services Rebrands as Heritage Retirement Plan Advisors





Contact: Taryn Clark


Heritage Institutional Services Rebrands as Heritage Retirement Plan Advisors

 OKLAHOMA CITY, Okla., Nov. 5, 2018 – Heritage Institutional Services announced today that it is rebranding as Heritage Retirement Plan Advisors, LLC. The new name reflects the company’s primary focus in providing fiduciary-level investment advisory services for employer-sponsored retirement plans. Heritage Retirement Plan Advisors will remain a subsidiary of Argent Financial Group.  Heritage Retirement Plan Advisors will continue to operate in Oklahoma as a DBA (Doing Business As) of Argent Retirement Plan Advisors, formerly Argent Institutional Services.

The name change pertains to the offices in Oklahoma City, San Antonio, Texas; New Orleans and Shreveport, Louisiana; as well as Nashville, Tennessee.

Heritage and Argent Retirement Plan Advisors’ clients are mid-size to large employers and, in particular, their human resources departments. The rebranding highlights the company’s mission to maintain an independent fiduciary relationship with plan sponsors and participants.

“Our award-winning team is lauded by clients as being extremely knowledgeable and informed about relevant issues and timely changes to the rules governing their administration,” said Brad Knowles, managing director of Heritage Retirement Plan Advisors. “This name makes it clear that our focus is on helping employers manage the retirement plans they have established for their employees, an area that is becoming increasingly important as employees needs and retirement options become ever more complex.”

“Our new name defines the specialty service that we provide to plan sponsors and fiduciaries of retirement plans and employee benefits. This is where we focus 100 percent of our efforts, which is a rarity in this industry,” said Chris Shankle, senior vice president of Agent Retirement Plan Advisors.

About Argent Financial Group

Argent Financial Group (AFG) is a leading independent fiduciary wealth management firm. Responsible for $19 billion in client assets, AFG provides individuals, families, institutions and businesses with a broad range of wealth management services including trust administration and related services, investment management, family office services, retirement plan and charitable organization administration, mineral (oil and gas) management, and financial, retirement and estate planning. The company was also recently named to the Inc. 5000 list of the fastest-growing companies in the U.S. For more information, visit



A Relationship Based on Trust

by Nancy P. Ellis, Co-Founder of Heritage Trust Company

Although Heritage Trust officially opened its doors 20 years ago in 1998, the full story of the company — and my relationship with them — stretches back a bit further.

In 1981, I was a recent widow, having lost my husband a year earlier. I was 38 at the time and raising four children between the ages of 18 and 10. My husband’s family was in the oil business. When my father-in-law died in August 1981, I began working with the trust department of Liberty Bank, located in my home of Oklahoma City, as I negotiated the sale of the family oil company. That began a financial advisory relationship that lasted more than 15 years. Over that time, I worked with four fine men at Liberty — Mike Carroll, Don Balaban, Ron Bowles and Dick Kerrick.  

I have a very strong faith, and I really do feel that God brought all those people into my life for a reason. I came to understand the secret of a successful trust company: building strong relationships with your clients by always doing right by them. I remained a client at Liberty Bank through 1997, when the bank was acquired by a large, national bank. After the sale, it soon became clear that many of the longtime employees were concerned with the bank’s new focus on proprietary products.

We saw a real need in Oklahoma City for a small trust company that focused instead on serving the individual needs of its customers. I asked Mike and the others whether they had something in mind. I offered to assist in any way possible — including writing a check. That’s how I became a co-founder of Heritage Trust Company. Because I knew what it was like to be a client, I feel that I brought a different perspective into this business. I knew the level of personal service that other clients should expect.

Although I worked in the Heritage office, I didn’t deal with client business; my role was in community relations. I’ve lived in Oklahoma City all my life and raised my family here, so I felt my deep roots and connection to the community helped prepare me to be an effective company spokesperson.

Mike Carroll came in as the president of Heritage, and Cathy McKinzie from Liberty also came in as comptroller. We also had the invaluable help of Randy Royse, the president of NBC Bank in Oklahoma City. He brought in Ken Fergeson, the chairman of all four NBC banks, who agreed to be Heritage’s banking partner and since then has been the greatest partner anyone could ask for. Ken is a straight shooter, an honest man. From the very beginning, he had confidence in what we wanted to do and offered his unfailing support. While many other banks in town were focused on selling products, we were focused on serving people. That’s what made us unique. Clients liked the idea that we were locally-owned, and that they knew the people they were dealing with. They appreciated that a real person answered the phone when they called. If we had a client who was ill or housebound, we would actually team up and go out to their house to meet with them. They always had someone they could talk to.

Heritage Trust Company became profitable in only eight months, and over the past two decades, we’ve grown into one of the city’s most highly regarded trust companies. In 2015, we merged with Argent Financial Group. It’s been a great arrangement that has expanded our services while allowing us to keep serving clients the same way we always have.

Our success has gone hand-in-hand with Oklahoma City’s growth, and I think this city is the ideal setting for a business like Heritage Trust to thrive. We’ve worked actively to improve our community along the way — most notably in the renovation of the downtown Journal Record building, which now houses our offices.

I’ve been blessed with the resources to help others, and I’m proud to have contributed to Heritage’s success. When I hear good feedback from our clients, I always tell them: I’m happy that you’re happy. And if you’re not happy, please call me first.

Behind the Scenes at Heritage

by Cathy McKinzie, Director of Operations

Since the beginning, one thing that’s always set Heritage Trust Company apart is the quality of our personalized service. We focus on building long-lasting relationships with our clients and take seriously our fiduciary role to put their needs first and foremost. Working with clients takes a special skill set — one that,
truthfully, I don’t have. I know my personality, and I know I wouldn’t be a good client-facing person. Working with numbers is what I enjoy— I like the structure of making things balance.

Over the past 20 years, I’ve realized that employees, like myself — who clients may never meet but who work equally hard behind the scenes — play our own vital
roles in Heritage’s success.

The common thread in my career, both at Heritage and before, is that I sometimes move into new job opportunities based on the strength of my working relationships with my colleagues. My respect for Ron Bowles, who later became a senior vice president at Heritage, led me to join him in 1987 at Liberty Bank in Oklahoma City, as a trust securities processing manager.

Many of Heritage’s initial employees came from Liberty, where I worked until shortly after it was bought in summer 1997 by a large national competitor. At the time, we were a tightly knit operation with strong, long running relationships with many of our clients.

There was no reason to start changing things; yet, over a period of several months, the new management gradually sectioned us off and began changing our internal structure.

In spring 1998, my job in Oklahoma City was eliminated and I was given the option of moving to branches in Columbus, Ohio, or Dallas, Texas. My daughter was in high school, so neither of those options were ideal.

One of my colleagues at Liberty, Mike Carroll, had already started exploring the idea of starting an independent trust company in collaboration with the
Payne family. They invited me to come aboard at what would become Heritage Trust Company. I liked and trusted Mike, so I knew even if this new business didn’t succeed, it would still be run with integrity. Saying yes was easy.

As with any startup company, we flew by the seats of our pants for the first several months. Each of us took ownership of several aspects of the business, even ones for which we weren’t normally suited. Because I have an accounting background, I handled payroll. I’m also an office supply nerd, so that was one of my jobs as well.

There were seven of us working together day in and day out. It sounds hectic, but it felt easy, because even when things got stressful, you knew you always had the
support and help that you needed.

Mike, former senior vice president Don Balaban and Ron Bowles were on the phone with clients every day, telling them what our vision was. Many of our clients
from Liberty Bank came over to Heritage based largely on knowing and trusting these gentlemen.

As Heritage has grown over the years, we’ve expanded into areas including oil and gas, mineral management, real estate management and institutional services. My job responsibilities have changed as well, and I’m now the head of a three-person operations department.

In operations, we take pride in knowing that the information we provide to clients is correct. We record their income, settle trades and provide them with accurate statements. We’re even picky about spelling errors.

I’m proud to say that I work for Heritage. Our clients have always been our core, so everything revolves around doing what’s best for them. When clients call, we don’t have to ask for things like account numbers because we know all our accounts by name.

As we look forward to the next 20 years, I feel confident our company identity and vision are as strong as ever, and we’re well equipped with the knowledge and
experience to keep delivering the level of service that our clients have come to expect.

Emerging Leaders Q & A

with David Luke & Brad Knowles

As part of our Heritage Trust 20th anniversary celebration, we recently asked two of our emerging leaders to share their thoughts about our company and its future. David Luke, president of Argent Mineral Management, and Brad Knowles, managing director of Heritage Institutional, discussed why they joined Heritage Trust and some of their personal milestones/achievements.

Q: What initially drew you to Heritage, and what skills or experience do you believe you brought to the company?

Luke: I joined Heritage for the opportunity to lead a group of oil and gas professionals. I brought hands-on oil and gas experience from the E&P (exploration and production) side, which is not typical in the mineral management world. I was also attracted to Heritage’s deep commitment to growing the minerals management business and the benefits of having access to the expertise of the different services at Argent Financial Group.

The main reason I joined Heritage was the opportunity to merge my company (RBK Capital, LLC) with Heritage to form Heritage Institutional. It was a merger of like-minded companies that allowed Heritage to take its fiduciary and investment philosophy and experience and apply it to a new market (retirement plan consulting). I was excited about the challenge of building and growing a new business within Heritage.

Q: What would you consider your career milestones or your most memorable experiences at Heritage?

Luke: I’m most proud about the work our team has done in combining Heritage Mineral Management with Argent Property Services and turning it into a thriving business that has seen substantial growth over the past several years. And we did it during a period when oil prices plunged.

Knowles: My first career milestone was when we doubled the assets and revenue of Heritage Institutional in the first 18 months. The enormous respect in the community for the Heritage brand and its people gave Heritage Institutional immediate credibility with decision makers, which allowed us to grow at a fast rate.

Q: What do you wish more people knew about the company?

Luke: I wish more people knew that a good portion of our team is made up of experienced oil and gas people who are affiliated with a great variety of specialists at Argent Financial Group. That’s rare in the mineral management industry.

Knowles: The people and their expertise. The depth and breadth of services Heritage provides and the caliber of the people delivering our services is amazing.

Q: Why is the work you do important?

Luke: Mineral ownership is intimidating, complicated and confusing to those outside our industry — and at times even to those in the business. The work we do here provides peace of mind, financial success and security for our clients.

At Heritage Institutional, we work directly with companies in a consulting capacity to help their employees save for retirement. It’s very rewarding to
partner with a client to create an efficient plan that’s easy for them to manage, is transparent and provides their employees with options they didn’t have before.

Q: What are your thoughts on the future of the company?

Luke: The future is bright. The energy market in this part of the country still has a long, healthy future, even with the gradual emergence of renewable energy
sources. The company is staffed with experienced, intelligent people who are located throughout the heart of America’s energy belt, and that’s a very big
plus for our company.

The sky’s the limit for Heritage. We could easily double the assets under advisement (for retirement plans) at Heritage Institutional during the next three years. We’re really gaining traction and it’s due to the expertise and proven track record of the Heritage team and the efficiencies of our processes and systems.

Blaze a Trail

by Aaron Jack, Chief Development Officer

There is a large reservoir near my home that has hills of varied size. Perfect for sledding in the rare instance of snow in Oklahoma City, the hills also represent a great workout opportunity.

There are several options, but historically I’ve settled on one that balances distance and the challenge of a steep slope. An admitted creature of habit, I always return to the same starting point.

Soon after incorporating the hill into my workouts, I noticed a path was beginning to appear from my steps. Whether the grass is overgrown from the summer rain or brown from a recent freeze, I can always find my path.

I take pride in the fact that my hard work has blazed a trail.

Twenty years ago, a group of people in Oklahoma City decided to carve out a new path. Concerned about the consolidation of the banking industry, the Payne family and a group of professionals from Liberty Bank started Heritage Trust out of the trunk of a car in 1998.

Fast-forward 20 years, and today, we are the largest trust-based wealth management firm in the South. I’m honored to have had the chance to play a small part
in this success story. Our team at Heritage has blazed quite a trail.

Walking home from a recent workout, I reflected on the Heritage Trust journey. While the story is far from finished, our 20th anniversary represents a time to
reflect on lessons learned, celebrate success and look to the future. Here are three quick leadership/legacy thoughts that come to mind:

WIN THE DAY. There is no shortcut. Success comes one step at a time. I personally grow tired of trite corporate sayings. However, “it’s a marathon, not a sprint” is one that stands the test of time. The trail on the hill began with a single step, followed by thousands more. Our success at Heritage came by serving our clients for a single day, followed by over 7,300 more. The best chance each of us has to influence the future is the opportunity of today. Take the first step.

TREAT PEOPLE WELL. This sounds simple, but sometimes it’s the most difficult principle of all. One of my favorite sayings is this: “People remember 7 percent of what you say, but they always remember how you made them feel.” It’s a concept our founders never let us forget. So many in our field focus on pushing product sand forget why they’re in business in the first place — the people. Our fiduciary duty sits at the core of our decision making, but I’m always most impressed with how our professionals strive to truly know our clients, their situations and why they are sitting across the table from us. We take great pride in the relationship part of our business. 

HUMBLE CONFIDENCE. In a recent blog, Argent CEO, Kyle McDonald, wrote the following: “Being a fiduciary means you are in the service business, and to serve someone you must place your needs behind the needs of the other — i.e., be humble — but you also must have confidence in your abilities, or your service will be of little value.” For 20 years, we’ve aimed to keep the client at the center of everything we do. Our responsibility as a fiduciary is not to sell a product, but to learn what is in the client’s best interest and do all we can to see that those interests are met. Since 1998, we’ve taken this approach to serve Oklahoma families and institutions. I’m excited about many more anniversaries to come. 2017 Heritage Grand Opening at The Heritage