Chris Messick and David Peacock know a thing or two about advising clients for top results. As partners at Messick Peacock & Associates (MPA), they also understand their firm’s philosophy and reasons for success. They started as friends with two separate practices but officially merged to form MPA in 2015. Park Cities Lifestyle spoke to both Messick and Peacock about financial planning, risk tolerance, and helping clients grow in every facet of their lives.
Park Cities Lifestyle: How would you describe your firm’s experience?
Chris Messick: For over 30 years we’ve seen booms, busts, and everything in between. We’ve worked successfully with individuals and businesses in nearly every industry—and helped thousands.
PCL: How does MPA differentiate from other wealth management firms?
Messick: Part of MPA’s uniqueness is that we’re not a sales organization, nor do we have a sales culture. We strive to incorporate smart “life planning” into financial planning.
PCL: Knowing that one size doesn’t fit all, what’s your approach to advising clients on investments?
David Peacock: Some things do fit all—costs, taxes, planning, and having realistic expectations. But every individual is distinctive in terms of risk tolerances and financial backgrounds.
PCL: How do you overcome any client reluctance?
Messick: Being hesitant about investing in volatile markets is normal. We help clients better understand the process and options, dig deeper, and look beyond the noise to make smart decisions. We want to help people that connect with our brand of financial planning and core values of optimism, achievement, competence, empathy, and connection.
PCL: When it comes to 2023, what do you tell clients?
Messick: Every financial plan should be tested against the impact of higher rates, higher inflation, and lower asset values. We find many clients are pleasantly surprised that their plans still look solid despite the changing economy.
Peacock: Market declines have created opportunities to reduce current or future capital gains taxes by realizing losses in assets that can be moved to more attractive positions or by trading into a similar position for a period of time to meet IRS requirements. Lower equity prices allow disciplined investors to rebalance portfolios or add cash at discounted equity prices.
PCL: How do you protect clients against rising inflation?
Messick: Incomes are growing with the cost of goods and services. And while there are some signs of inflation rolling over, for now, demand in the economy remains robust. Consumers are not optimistic, but they are liquid and still willing to spend. We certainly think time will smooth things out as inflation moderates and asset prices recover.
PCL: You suggest clients should never stop growing?
Peacock: Intellectually, emotionally, spiritually, and financially—in every area of your life.
Messick Peacock & Associates is located at 8333 Douglas Ave., Ste. 1200, Dallas, TX 75225 (972.942.0672).