September/October 2021

Page 54

PROFIT

BUSINESSSPOTLIGHT

JACOBS FINANCIAL

PERSONAL PROFILE

The Love of the Game

Dave Jacobs, 42

Jim Jacobs, Jacobs Financial, loves helping clients, working with his sons … and baseball.

Education: Bachelor’s Degree in Business – Marketing & Finance from St. Cloud State University

By Gail Ivers

Business Central: How has the business changed since you started? Jim Jacobs: None of the products we sold 40 years ago even exist anymore. When I entered the business, we were selling insurance investment products. I eventually got my securities license and sold mutual funds. Mutual funds didn’t really take off until the late 1970s. And there are many, many more investment products now than there used to be. Andy: Things change all the time. We’ve moved from commission to fee-based and goals-based compensation; asset management compensation. It’s more common now, but we were probably ahead of the game on that. BC: Family businesses can be a challenge. Did you always plan to join your dad in business? Dave: Yes. My grandma tells a story that when I was a little kid and I was asked what I wanted to do when I grew up, I said “I want to work with Dad.”

TIMELINE

1973 Dave Willmore, Jim Jacob’s father-in-law, encourages him to enter the insurance business selling investment products. 1979 Willmore and Jacobs form a partnership, Jacobs, Willmore & Associates, and

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Hometown: St. Cloud

(Lef t-right) Dave Jacobs, Jim Jacobs and Andy Jacobs

Andy: Not right away. I was working in the Twin Cities and wanted to move closer to family. I saw Dave taking the securities test and decided to look into it. Jim: It’s a blessing to have them in business with me. Watching them grow and help others – I believe that’s what we’re supposed to do with life – use our gifts to bless other people. Andy: Our personalities work well together. Of course there are disagreements, but we do a good job of putting our pride aside. I respect Dave, and he respects me. BC: Jim, your office décor suggests you like baseball. Jim: My dream job is to be a major league umpire. I’ve coached baseball and played it in high school. I still love to watch baseball. Those older players didn’t get paid well — they played for the love of the game. And that’s me too. I work for the love of it … for the relationships, for the friendships, for the ability to help clients reach their life goals.

establish an office in the Westgate Mall in St. Cloud. 1981 The company moves to a larger space in the St. Cloud Business Center. 1992 Willmore passes away; Jacobs continues the company renaming it The Jacobs Agency.

BusinessCentral Magazine.com // S E P T E M B E R / O C T O B E R 2 0 2 1

2002-04 First Dave Jacobs, then Andy Jacobs, Jim’s sons, join the company. 2007 Now known as Jacobs Financial, the company moves to its current location in the Jacobs Executive Center on 33rd Street South.

Family: Wife, Kristen; children Alivia, Kalyn, and Devin Hobbies: Hiking, coaching daughter’s soccer team, golfing, time at the lake, watching lots of hockey games and dance competitions.

Andy Jacobs, 48 Hometowns: St. Cloud Education: Bachelor of Arts from St. Cloud State University Family: Wife, Angie; children Mason and Leah Hobbies: Golf, soccer coach, attending sporting events, travel, boating, time with family and friends

Jim Jacobs, 71 Hometowns: St. Cloud Education: Bachelor’s Degree in Business — Marketing from St. Cloud State University Family: Wife, Carol; five children, 15 grandchildren Hobbies: Racquetball for 40-45 years, fishing, reading the Bible every morning, attending sporting games for all the grandchildren, family time

AT A G L A N C E

Jacobs Financial 1407 33rd Street S, St. Cloud, MN 56301 / (320) 217-6006 info@jacobs-financial.com jacobs-financial.com Business Description: Jacobs Financial is an independently owned and operated financial services company, servicing the St. Cloud area since 1973. Owners: Jim Jacobs, founding partner Andy and Dave Jacobs, managing partners Opened: 1973 Number of Employees: 11, including the owners Joined the Chamber 2006