During his career in wealth management, Kevin Murphy has embraced certain investment principles.
One is to believe in America. And invest in blue chip companies with the potential to pay dividends.
Then there are the golden rules of the Rotary Club, a group of which he has been a member for decades: is this the truth? Is it beneficial for everyone? Is it fair to everyone involved? Will he build goodwill through better friendships?
And reputation is everything.
Kevin is Senior Vice President/Investments, Co-Branch Manager at Murphy Henriksen Wealth Management Group at Stifel in Casper. Stifel is an investment firm based in St. Louis. Casper’s office has clients statewide and nationwide.
A seed for Kevin’s 40-plus-year career germinated when his father, Dr. Joseph Murphy, a well-known Casper physician and newspaper columnist, began to wonder how to send each of his 12 children to college.
In the 1970s, the elder Murphy studied the stock market to address his college funding concerns.
“He even asked us to pick individual stocks,” Kevin recalls.
Even so, Kevin didn’t start with the dream of becoming a stock and bond expert. Instead, he wanted to be a basketball teacher and coach.
A brief job search established a few facts that would serve Kevin well in the future.
“What the process highlighted was that I had very good sales skills and strong finance expertise,” he said.
Kevin returned to Casper and first landed a job at Saint Anthony Catholic School, where he did a bit of everything. He later interviewed for a job at the local Dain Bosworth brokerage office.
“I was confident in my skills, but because of my age, I wasn’t sure they would hire me,” Kevin said. He was 23 years old.
Kevin trained at a Dain Bosworth boot camp in Minneapolis for four months. He was the youngest in his class.
Upon returning to Casper, Kevin found himself alone with little more than a phone book. “I had nothing to know who to call.”
However, his grandfather was a sheep farmer, so someone from the Wyoming Stock Growers Association gave Kevin a book list of every sheep farmer in the state.
Armed with his outstanding sales and finance skills, Kevin decided to start prospecting for clients in Gillette and Campbell counties. He knocked on the doors of ranch homes across the Powder River Basin and asked a simple question: “Do you feel like you’re paying too much income tax?”
Since many pastoralists had benefited from the region’s energy development, the answer was usually a resounding “yes”.
Once he had the attention of a rancher, Kevin explained how instruments like tax-free municipal bonds can be beneficial. This experience was the first step in creating what became Kevin’s wealth management business.
Kevin remained with Dain Bosworth until 1992 when he was convinced to open and run a Piper Jaffray office in Casper. But he eventually left management because he wanted to focus more on customer needs.
Services and customer satisfaction
Through Stifel Murphy, Henriksen Wealth Management Group provides wealth management services and advice to clients of all types, ranging from individual investors to institutions.
Individual investors often make the mistake of panic selling when the market is down. “You have to make two good decisions,” Kevin said. “When to go out and when to come back.” Murphy Henriksen Wealth Management Group uses strategies to help negotiate the inevitable highs and lows to potentially avoid making bad market timing decisions.
The first part of the strategy focuses on companies that are well managed, have strong balance sheets and have the potential to generate strong returns over time.
The second part targets US-based growth stocks. They are based in the United States but can do business anywhere in the world.
Fixed income bonds with short maturities are another part of the equation.
And finally, there is a risk management element that has proven to be very reliable based on technical and fundamental factors.
“Of the handlers we use, this is the one I particularly like,” Kevin said. “It doesn’t need to be on the market all the time. Many investment companies are pretty much all around, even in tough times.
The success of Murphy Henriksen Wealth Management Group is built on relationships, many of which span generations.
“We like to know as much as possible about our clients,” Kevin said, “their kids, where they are, who they are. I’ve probably watched more sporting events than anyone else in Wyoming because I watch my clients’ kids play.
He added that helping clients pursue their financial goals has been a source of enormous personal and professional satisfaction.
Murphy Henriksen Wealth Management Group also works with attorneys and CPAs to help develop estate planning strategies. For many clients, this includes making charitable donations in a tax-efficient way.
“Your reputation is paramount in this industry,” added Kevin. “You don’t do it for 40 years and cut ties.”
Contact our office today
Among his many industry accolades, Kevin was named one of Barron’s top 1,200 advisers nationwide in 2019, 2020 and 2021.
With inflation soaring and the US economy drifting in troubled waters, isn’t it time to find out what Stifel’s Murphy Henriksen Wealth Management Group can do for you?
You can arrange a free consultation by calling (307) 232-9450. Or drop by the office at 123 West First Street, Suite 500, in downtown Casper.
Stifel, Nicolaus & Company, SIPC and NYSE Incorporated Member
Stifel does not provide legal or tax advice. You should consult your legal or tax advisor regarding your particular situation. Investing involves risk, including the potential loss of invested capital. There can be no assurance that the objectives of the strategies mentioned above will be achieved. Past performance does not guarantee future success and no one can predict the markets with certainty. When investing in bonds, it is important to note that as interest rates rise, bond prices fall. Income from particular municipal bond issues may or may not be subject to minimum state and alternative taxes. Capital gains tax may apply if sold before maturity. Changes in market conditions or a company’s financial condition may affect a company’s ability to continue paying dividends, and companies may also choose to discontinue the payment of dividends.
Barron’s “Top 1,200 Advisors”, March 8, 2019, March 15, 2020, March 12, 2021, as identified by Barron’s magazine, using quantitative and qualitative criteria and selected from a pool of over 4,000 nominations. Advisors in the Top 1,200 Financial Advisors have at least seven years of experience in financial services. Qualitative factors include, but are not limited to, compliance record and philanthropic work. Investment performance is not a criterion. The rating may not be representative of any particular client’s experience and is not indicative of the financial advisor’s future performance. Neither the broker nor its financial advisors pay a commission to Barron’s in exchange for the rating. Barron’s is a registered trademark of Dow Jones & Company, LP All rights reserved.
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