THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, August 30, 1995 TAG: 9508290109
SECTION: ISLE OF WIGHT CITIZEN PAGE: 13 EDITION: FINAL
SOURCE: BY ALLISON T. WILLIAMS, STAFF WRITER
DATELINE: SMITHFIELD LENGTH: Medium: 66 lines
Phil Frix calls himself the ``nickel man,'' and he hopes that will help people remember that he invests much more than that.
Frix, 33, opened a branch of the St. Louis-based investment firm Edward D. Jones & Co. at 1412 S. Church St. in June. Since then, he's been introducing himself and the firm's financial services to the community by knocking on doors, greeting citizens and leaving them his business cards - each with a nickel glued to it.
``The best way to build this business is to do something different,'' Frix said in an interview last week. ``You would be surprised at how many people remember me as the nickel guy.''
There's nothing particularly significant in the nickel, he said - only that it's more than a penny.
``Being a part of this community is what will make this business work. Getting involved in organizations like the Chamber of Commerce and Kiwanis has helped me learn what the people of Isle of Wight County need and want.''
And that is good, quality investments that aren't likely to lose money, he said.
``We're considered a pretty conservative investment company.''
Although Edward D. Jones & Co. now has branch offices in many large cities, the company is best known for its longtime strategy of opening small, one-broker offices in small towns nationwide.
While the Smithfield office is small, it is equipped with the latest technological equipment and professional expertise, Frix said.
``Before we opened, people were going to Norfolk, Newport News or Richmond to get the same services.''
Mounted atop the firm's small, brick building is the brokerage's technological heart: a satellite dish, slightly larger than a dinner plate, with powerful capabilities. When the company installed its satellite network in 1990, it was the largest private satellite network in the financial services industry, Frix said.
The satellite dish enables the Smithfield branch to obtain up-to-the-minute stock quotations for clients, handle customer transactions and transmit data and broadcast video transmissions from the company's corporate offices.
Last week, for example, Frix invited Wal-Mart investors to his office to participate in a live question-and-answer session with the discount retailer's chief executive officer, David D. Glass. If any of the viewers in Smithfield had a question, they could pick up a phone and put the question to Glass.
Although Frix is the only broker in the Smithfield office, Jones' clients can benefit from the expertise of the company's financial research staff in St. Louis, Frix said.
``The average person may not have the time to do the research necessary to make good financial decisions. The back-office support I get is an added advantage for customers.''
Frix joined Jones & Co. after leaving the Army last year. After passing national and state licensing exams giving him the authority to sell stocks and bonds, he took a six-month training class from the company.
Jones then let Frix choose any city in Hampton Roads to open an office. The Newport News native had spent a lot of time visiting Isle of Wight County and jumped at the opportunity to move into that market, he said. ILLUSTRATION: Phil Frix
Financial services representative
by CNB