Five Questions With: Randal Poirier

Randal Poirier is a financial planner and partner at Independence Financial Partners. This year, Poirier decided to show thanks and give back to his community of Little Compton. He talks with Providence Business News about his efforts, his company and what it’s like to do business in Rhode Island.

PBN: Can you tell our readers a little bit about your efforts to give back this Thanksgiving?

POIRIER: I am very thankful to have the means and the opportunity to give back to those in need this Thanksgiving holiday. I have teamed up with Wilbur’s General Store in Little Compton over the last several years to provide seasonal pies as part of the Thanksgiving meal baskets, which are given to community members in need by the Little Compton Food Bank. Fruit pie has always been my favorite part of the Thanksgiving meal since I was a child and it’s a wonderful feeling to be able to make this small, but meaningful, contribution to brighten someone’s holiday meal.

 

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PBN: What made you want to do this for the Little Compton community? 

POIRIER: I’m extremely fortunate to be able to work and live in such a wonderful community. This town has given me and my family such a wonderful quality of life. It really is, in many ways, like something out of a Norman Rockwell painting. People here know each other and actually take the time to say “hello” to each other when passing at the general store or the community center. It’s a rare and beautiful place to live and work and giving back to those who may have a temporary need for support is easy, and its simply the right thing to do.

PBN: Are you involved with other local organizations? What are they and why do you participate?  

POIRIER: I have supported a select group of nonprofits in my community and greater Newport County over the last 10-plus years, like the Little Compton Community Center, The Potter League for Animals and Newport’s Island Moving Co. (contemporary ballet company). Unfortunately, it’s impossible to support every worthy charity, as there are so many, but my focus has been to make a more substantial impact by supporting just a handful of nonprofits. Those that matter most to me are child- and family-focused organizations, animal welfare organizations and those that support the visual and performing arts. The reason for my support has already been stated best by Sir Winston Churchill, “We make a living by what we get, but we make a life by what we give.” It feels good!

PBN: Can you tell our readers about your work and Independence Financial Partners?

POIRIER: As a financial planner and partner with my financial firm, the focus of my practice over the last 20 years has been to help my clients accumulate, manage and protect their wealth in a tax-efficient manner. Over the last 10 years, I have worked mostly with a select group of individuals and nonprofit organizations in helping them achieve many of these same goals.

My mission in working with nonprofits has been to simply help them fulfill their own missions by helping them access customized investment solutions for their endowed assets and maximize the effectiveness of their cultivation of planned gifts from their donors.

I have also greatly enjoyed helping my clients make a magnified impact on the nonprofit organizations that they care most about by helping them identify the most appropriate and tax-efficient planned charitable giving techniques for them and their families.

As far as our firm is concerned, we are one of the largest privately owned financial-services firms in southern New England and have been helping individuals, families and businesses achieve their financial goals for over 100 years.

PBN: How is business, and what advantages and/or challenges do you see to operating in Rhode Island? 

POIRIER: Business is terrific … We are extremely fortunate to have such wonderful clients and have been truly rewarded for the knowledge, advice, care and attention that we have given to our clients. As a firm, we feel as though we have a distinct advantage within our market, as we are truly focused on providing holistic financial planning to our clients. We believe that preserving and protecting our clients’ wealth is equally as important as helping them grow it.

As far as challenges are concerned, there are many. However, with each new challenge comes a new opportunity and we have always been able to grow as a firm as a result. In conclusion, R.I. and southeastern New England is a wonderful place to live and raise a family and I would be extremely hard-pressed to find a compelling reason to work within this rewarding field in any other state in the country.

Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.