Luther Lockwood

At Home with Roby
Sunday, April 15th
Luther Lockwood, Managing Principal or MBL Advisors joins Patrick and Trent to talk about business.

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Good morning welcome. I've read these services form ten tasting president and CEO of the ruby and we have companies can't wait this in the day man. And what you make fun of me my money but you gotta if you do your care a lot of blue. Columbia PSG. Is featured as a as a comfortable. And you know. Bin traveled for about a week and a half so wash wash a bunch of clothes and I. And these that I'm a fan of these shares I had never worn one until about three months ago and a little low don't know like Google and Logan and a lot here room one of our true. Nice collapsed and I have one of these had a warning for ever from a place Albion built plantations in Florida and I went to Ferguson probably in years again. But they are comfortable my dad my dad has an exact same care I'm blitzer. Where's entered Munich on gasoline not cannot turn in a Monday and it's you know rolling up my dad always wore khaki pants in. Wore boots Tut the end and it and it and I knit shirts been in and and then as he got older I think he said man this is all for the birds and at the pain. His shirt started being an anti in the and he sort of learned tennis season and then bit different types she's in NB a little more casuals he was famous for Tennessee you're dead did balling its image and his eyebrows. That was. Not a hate rotten that he had the Tennessee game he wore the red to where they impose something has some new balance the essence of Sony's. In and now I have those basics that I Wear own pace I got that from him because when he when he was sake. His feet were so on on net and they kind of you don't really happily soma where among place. Thank all my tennis she's now an outward calm fashion fashion sneakers. I don't lakes. Just so blessed Easter eggs in him that is very confident that. Come to east of on the chiefs and that is same thing and I don't think minor ash and sneakers are probably about buddy Davis hopeful that I is now a Lynette visit the masters with last week. I broke out these. I don't know a lot croquet or whatever out Eden scene yesterday but now I broke him out of Baltimore. Come on back from a skill but two months ago airport. Wells and those are really cool and I'm they're releasing them. And they're French and I understand and follow the hands. And out broad first time problem mortem what did the cattle why in the first some warmth was down there. And all he keeps stopping about a much you can sheets of the solid yesterday. Ticket to get. Oh so law do not have time following Monday as it is this that but and announce your write me and my dad both had. Kicking shoes when you on the stunt dead bad flat dead and I have the same size foot. So Lou. Who. The one thing that I'm very proud of them got somewhere where and whom Marie are it was a Afghanistan if you collect. But yeah you do he's you said the saints hustlin' owls I'm yet so important team that will Tony anything. The depend on how big fingers today old schoolmates your statement yes actually. Actually I. I would show him. Some people out talk Obama now a lot of salaam a picture of of us sit in the fireplace how moment dad. Christmas and and Alison nine years old I'm 39 now my dad was 39 and that picture. Must sister was. Six imam my brother would have been thirteen and it's just Christmas Day is great memory and or hold on my dad. That he little more calm and organized you can kind of see do it was like our program which transpired at the he nearly we instantly when it Luther Lockwood is their RTS in them laugh and they're here we talk about come over on the excellently well to bring up the brush that so I don't know I don't Bristol Bristol rentals broken off loaded again at least a year senile old male grizzly bear grabbed brush and comb that stuff over yeah. Lesser opponent grabbed a faux auto Marilyn got couples name has come and the but. I don't news the funny thing is must sign a sadism before Bluetooth never heard this. My son Ford who was born right after must follow past. He has my day he's only and a family has my dad's ears that stick out. And they determined to re it he his word they turned the bridge incitement and they're I didn't I was Monday and Charlotte. Knew my dad had a red as the years. And when he wakes up in the morning he's got the gristle Bayern banks they canal innings only guy has them yourself time. Will did you dead also has an emergency which we talked about before with Tracinda which is great night and a season quite it's intimacies and some ET on site hypocrite and I'm that he back. Well don't. Good stuff to respond as a group cannot. You know what I'm saying I understand I understand them with the but. Yes some some me in my family last week got the spin spin spring rate in first half of the week down a Surfside beach. At my mom's place and was a lot of fine and we had a good time and got the spins and some quiet time with the and we and then they went way. Up to Augusta for a couple days didn't do more business development which which was great got to see must sisters. She lives down and gusts the saga hanging out one earned. Her error when little. Move we knew what it what and toss and turn it was and I believe to be in senior religious perspective watcher you know he can he can bestow some knowledge and as you said he was a big golfer. The big man that was great and it's a two line in the masters diseased you'd juggernaut sort of going at it it was good. And Abumrad almost sister a little bit she's down on the Augusta because she's in the and she works the tournament she does medicine for the tournament I'll kind of mess and light. I'll try and explain NCE slight case she's got to be prepared for a terrorist attack. She's got to be prepared for suicide a shooting in also scout be prepared for a older person our kids to listen rankled the units it was anything across the board. If she was and determine everyday op clocked. And I didn't ever get it out of the tournament till 730 year rate and she went and had dinner with me. And hang out with me it's about 120201. This and they don't want to thank you Taylor from a hat night analysts that beach. This time and be ready. Do you know Luther Vienna are it will we have Luther Lockwood Oakland with MBL advisors is our guest a good friend of mine gonna join us. Next couple segments hang tight. Welcome back at home the president Patrick Pass from services along hastened from the ruby family of companies we or year posts. Trillion special guests from the media today you know we have to. Luther Lockwood as we we teed it up a little bit and there are segmented. Loot to welcome to that home probation thanks Trent yeah. Lou der is one of me not Patri may have born and raised in Charlotte right. I was raised here. Yeah are you are born here I was not technically born hairless elsewhere for about eighteen months I understand it I just found that he went to the University of Georgia not from a Georgia guy a group of George all I want to clients that they're good every single one of my friends went it went to Athens did to go to college I was like outcasts love it. And went to Ella declines in which which edges of the road course. Potential sold about litany hazzard are are very close friends of NATO for quite awhile yet another loose lipped are not met the new do lap PO I talk a lot about lot B owner radio is. Young president's organization I think I am in membership chair for nor the site in North Carolina today. And when I joined Lapierre were tried to join my the loser was the membership chair but I tried it and then. Anyway we let him in I think this back a little bit that we could become a fighter I'm very diligently had a. Did sponsor that unemployed drug use those are good fun the both of ours stepped up and yes absolutely and and it's been great to get two million you been a great member and I'm glad your eye. Stepped up and have a leadership position and with this day. While I followed the footsteps of the people that I'll wanna be like instead examples forming in the you're definitely one of those people so thank you thank you and I just got to work home golf game fifth so Luther grew up I mean like you know. Were business chosen and we talked a lot about philanthropy and we talk about our friends we thought about word of the Robie family does repeat what thank you hit every box I'd. But we also talk about people where they came from and will. We like Aaron we like our listeners to get into it to their mindset so much just baucus briefly do too well how you grew up and am. Your influences and you know your parents call country club and ales that. Right so. Like us so I grew up here. I want contradictory ninth grade and then nine switched over south Mac. Then headed to Athens of the University of Georgia very earned a degree and risk management insurance. Spent much Taiwanese in Atlanta I'm moved back to throw at me and and join the form I'm I'm with today. When I joined the firm we had. Six partners three of those six were 65 or older from. And we've truly been an financial services business I would say broadly. Initially doing. Estate tax funding. With life insurance and executive benefit plans. So bomb shortly after I joined the firm became a partner we sold the business to Wachovia to legacy Wachovia. And I was there almost ten years and down my other. Partners are either passed away retired from the business and completely surrendered their licenses except for. Once on one of the founders to arm in 2007 races and then. Was just cam a little tired of the bank bureaucracy. And so I Guam I decided to stick it out not knowing the world was gonna. Almost come to an end in 2008 and financial services and was fortunate that we had a change of control provision in all original. The deal with the bank and so lomb. We repurchased the business. In early 2009 I was actually wells former employer for about ten weeks land. And so renamed the business and BO advisors and meals initials for family office called Robert Lockwood and done today we do. Executive benefits. Kind of corporate retirement. On business exit planning for probably a businesses and onto brewers. And we were wealth management. We think about that. Now so I think that was probably one of the business. An eloquent answer that question we've had do you did you practice and on the Leonardo they say they'll line those are really well done and I'm currently leads to evil and ads that are hurt the effort that the a couple of times these are not 32 commercial to. But all of saved Luther has helped us as our businesses grown. Night. We we have built a relationship and he's helped us. Travis and I mop partner in my brother he's helped us stark and navigate our our. Our legacy of our business any in he is very fortune I'm very glad. That we start adapt proactively. Before my follow got a stake in my father was very fond of Lutheran how I cared himself and it was a touchy subject. To wean Bastille insurance and executive compensation as as we brawl people like you Patrick in and talk about people making money. For the older generation NASA touchy subject and are subject zone I'll I'll give kudos to you lose your personality and how you carry yourself and I. I have commando of of your business line and in the history you woman data Rupert I think you need that. The guy I didn't know that at that time but looking back he did count to become a fan and week. We do work with a lot of family businesses. And succession planning is always a big issue. And so you know aspects of what we the project we worked on. For your family count it involves some succession planning from generation to two generation three. With the human Travis but that it also. You cannot have non family executives that are really important. And a lot of family businesses don't want allocate equity purse side to their management to name. But they want the united the owners of the family members would really like to and sent. That management team just beyond a salary and bonus on an annual basis and so. We try to align. The long term strategic plan a business with the compensation for. That management name we've kind of built the process around that number actually trade me now in the form his trademark it's called smile. So smile was the acronym for strategic management incentives for a long term employees. And so we've built the process we've identified. Nine different types of plans. For privately held businesses when I was of the bank we working a lot of public companies and cosmetic privately held businesses. But. So we took a lot of things we learned working in the public company marketplace and amenable to apply those things to do. Privately held businesses where those families businesses or just just closely held businesses in general. I was great in he coming. You know Patrick as you've grown Lutheran I didn't know if Al had never met before today. I thought it was going to be really cool because he sailed as we navigated your compensation and ales so flute that looters didn't live some pretty proud that. Actually remember the first law. That we've turned a profit and Roby electric the first person called I was so excited ecology. Minister because plumbing pissed. You get to see behind the curtains right right and I mean I wish them well Pineiro our struggle on the run a business and you see the whole. Dammit for everybody but she knows some to be proud when you turn that corner and ops brown. And Luther god here. And that's that's pretty cool and an eighty is minutes is sort of like he had given that first have to wouldn't we are also we're going to K now now right now look we think we got this story is still had a nervous energy use words and it became consistent. And and here we are now I mean we've we certainly is as cannot talk about a lot Leah. We fought only fought a bloody knuckle fight for a long long time and we still do on a daily basis we talk about being in the tenth throughout Mike Tyson's behind the scenes spent. But that's cool I did not know that did it that you're the person he called incidents the sort of principles are. We'll well on Roby electric if you think about it you have no serious stab was business and brand shirt. The Roby electric was a startup. And so then how do you pay you the leader of Roby electric we're not making any money right it will and you read we have to do something and and trying to have bad alignment of goals. And compensation was key and that's what Trent was so excited when he called me so I think or would give credit turned the corner. But it's faculty date in in now are still people in it if it was Patrick's electric this wouldn't this but it never worked in Illinois failed over and over and over. I think that's was so nice is is having the umbrella we have with with brilliant longevity in the market. And has certainly made things a little bit easier from the business Chris standpoint and an essay that said he has a lot of people and our industry that. They wanted to sort demand business and they do it for a little while and yet inevitably they'll call one of us and cements a lot harder than he said it was going to be. It's like you're trying to we we we tellem led yeah I don't think you really understand that invited and B go through it. Yes start ups are are really challenging and like I said you had an advantage security have an established business there kind of goes our core. But then again it is a start up behind their revenue and had no employees and an assist all right this is a new business. Unit and we've we've kind of done that as a permanent while management space even nor from a started in the in the mid eighties when I'm not a state tax rules changed in 2012 I decided we should. Hire somebody needed to to be a wealth manager on a full time basis towed to server client base then and that's worked out pretty well well that's great. Wool. Luther manor is so informative so wintry scene for for me as being an option norm in a business. We have Luther Lockwood with Ian BL advisors. A good friend of the Robie family. They were gonna change the subject to philanthropy and help in Charlotte. Do great things when we return. Welcome back then though with Brody and Patrick Cassidy from residents. The family of companies. We are year post if you missed the last two segments get back and listened. We're here with Luther Lockwood he's been an awesome experience great show. The the really happy to have you here appreciate you coming down treaty it is it going into this I mean you're talking about. He were to switch gears a little bit we Tenet had a nice conversation about business in the last segment. And now we're gonna switch focused you till the morning any the philanthropy says things. Yet I think Luke Tom I say this incorrectly in the to correct name and I think Luther. It is unveiling some new stuff with his business over the next six months to a year senate it would be exciting now have Luke thrown and in due. Dual business recap show Lou and so just actually talk about this for option C trying to. All right so much deeper than yes so the switch gears I mean lifter. Look teach you honestly like I said I looked up to huge. And it and as my business has grown among families ground and not tried to try to be a better man. A big. Segment of the pod that alma create and we have we dump pretty good job at at the rebbe family. Is is to philanthropy saddened Philanthropic. Duties to our city. And two people and to our kids into. The kids show all the kids of the world so. You're on the board at the discovery place correct. And the board chairman while they're at your sales so sweet and Jessica I thought we did have a conversation about it I. This league you're the board I have been for the last person close to a year on Tuesday yeah. And the funny thing is we had this conversation other day. Rich Campbell who's who's who's and who's an entrepreneur Warren a business leader in Charlotte. Who our man on the make a wish board. Probably about Linux voters in my first term who I've become dear friends we at this well. Was the chairman right that's right. Yeah and he's. He's still on our board and spend. A real leader and a whole lot of great things for discovery place. And I think Disco replaces Roy and under appreciated. Cultural last set of the city com. Last year we had about three quarters of a million visitors. I went five properties while people don't know that. And so I think Michael marks account I was a former discovery place trust in he. He jokes that we put that ass and arts and sciences for though arts and sciences council that where the science aura that. 41 with ten orders science centers in the country by a number of visitors. The plan to we eat we do have some exciting things going on. So I guess though. Probably the most relevant is so you know the the nature museum has sounded a little over seven years ago and and we last year we re branded it. Discovery place nature. And we do you have a commitment from the counting to. Refurbish actually bowed building news building. On the current site. Trent if you weren't there when you were a kid I went the old nature museum. Despair replaced measure when I was a kid. And unfortunately it it really hasn't changed very much it's still kind of an house that's been added onto a few times and it's really not. From a quality standpoint consistent with the other cultural assets and city in the rest of the offering it had discovered voice. So you still have the respondents. The I think that was tent pole pondered for help on Anderson there's a pond outside us and hopefully we'll have a much better experience. Oregon. Kind of reposition the building and trying to fully encompass more of other Greenway and freedom park yet figures today yet you can be in freedom park and not even knows that. This could replace nature facilities that. Leaked it in in trouble remembering the tadpole pond I mean there's these are memories as kids our growth in Atlanta and we had a Teddy TV. Nature center and everyone there is akin all the time we get sidetracked in in downtown Atlanta. In an eighties things obviously remember Trent does well then he sent five properties that I know about obviously a town honors though. The nature museum and now blue we're the other to distribute. We have I say discuss replace kids now a museum in Rockingham that's right and today and then we have what we call the education studio which. Is that in the former Bank of America child care Senator Clinton and the building is directly behind the parking deck for. The main location I'm uptown Disco replace science and we. Do a series of teacher education programs to promotes them and really can think about it. Yes stem is vitally important to churn of the children our community. Stem as were all the job growth is in our economy going forward and so. You know one of the things I was kind of surprised with we did. The strategic plan a couple of years ago this was just before the opportunity task force. Kind of came out with their objectives and a community and we looked eleven of the 41 objectives. And our strategic plan. Were already completely in sync with the opportunity task force planned. One of those of the program we're very proud of as a welcome program and so. Children who were on free and reduced launch. In those programs at the school. Can come those families can come to discovery poised for a dollar. School and so we we've welcomed over a 100000 visitors on the program. And it really count gives the use children an opportunity to expose themselves to things that. They would normally have an opportunity yesterday. And a weak hand. Count count you know explore the curiosity. And some of those kids going forward and engage them right in the stem process. Fact that's gonna do nothing to pay dividends for our community go forward wolf packs cannot tell us. Obsessively about I don't know work force development our. Industry trend that would mean it's there it's no secret just shows we we record during the week and mean as of today we have people at the harper campus. Talk and these young kids are the guys that can today right Steve announced announced live and he McGwire and they're averaging county times it. Engage and encourage the younger generation deterrence point to get into the Tivoli dues and and this embarrassing and a change. That what we're 49 out of fifty in big cities for a economic Olivia denominated in it. And and we talk a lot about that and we have so many good programs. Coming aboard and on board. I honestly think it's it's a knowledge staying in and then an appeal are staying here and out there to families and parents in these kids when they're young. I mean that this replace. Is first class how old is yes and my family did a stake Haitian last year girl and ACC basketball tournament. So we'd win state I lost which is comical from me in my key is I don't typically stay a loft details. And it will center around the discovery place and we went have lunch and I played in I mean honestly. I'll tell he had had a beard sit there with my wife and they were play and then. It's a first class experience a serious. Well we wanna make discuss replace a fun place to comment over you know but a little known fact over 50% of her visitors are adults. And that's something people view was USA Children's Museum. There's a lot to do for adults and so. If some of the things we've been doing we have a program called science on the rocks. That is rowly then popular way. More O'Neal's. And so one Friday a month on Friday night. We end up we have sellouts there's like 12100 people that come discovery poised for happy hour on Friday. They can come up their friends and have a cocktail. And check out the exhibits and have Vietnam have a good time and then go out to dinner and then kind of do what they're gonna do him and so. One of the other things we've been trying to do is is. That's may discuss replace feel locked cooler in the community as we gonna be a cool place from a philanthropy standpoint as well and we're primed. To change the dynamics of the organization from that standpoint. You bring in world class exhibit some newly happened to limit the body Rolen is here and Titanic exhibit was checked checked the Emma and my sister Carol brown Erica I drove up from Atlanta and they are here nightly news Titanic exit we really wanna visit his seat enemy. Is fast. Yet body worlds was idol was a big hit actually the year we had body worlds was a record attendance here we actually outgrew the Panthers. A total attendance standpoint for the year. So well. You blew my ma allotted budget for souvenirs for my kids and in the recent vacation in half because you have such as hip and cool stored there at the front I'm not. I dig it out Ratko later. You know I'm like mom dollars in the smile Sarkozy and analysts going home and it is really impressive how how yelled evolves. In May get more trendy and all those millennial was awoken on the green lane new openness nature museum and get this thing. Very welcoming and and modern age I think it's gonna do the same thing. Hopeless when we wanna attract you know I've. People grow appearance kids then we have the millennial Olson then you start having kids and you wanna bring your own kids back and I some of those same experience is so we wanna build lifelong relationships. With people are community discovery toys. Well Lou drama crash you to hang tight if you stayed the first part of our last segment I'll like you'd applaud what we've done for you is in business and and then you can give a plug for your business as we roll out we stick tight gladly. Welcome back at home with broke contact him cast from ruby services along the east. Is the same companies tend to lose the block lute is an hour he must be special is heavily in my bag for a for a fireside chat in the fourth segment maintenance that talent and he's if you miss the first he's segments they manually on the church or something get back in in checked the podcast. I'm very educational and learn a lot about Luther in discovery place which. File location that I never knew that in and make a lot going on Trent. In looters involved in in several other for full land there for Philanthropic endeavors. That that we can talk at length about to step so we would definitely have Luther back in the fall Lee's going to be Greg. From now let's change gears a little ability year and having opportunities I love playing out BP unit strike also well did you watch the masters last week. Not I did I was down there was forced house down there for a couple days and I came back Saturday night and watched on Sunday in my home theaters that that. Hander to be built out for a slew let me ask you during the commercials that you hit balls in your golf simulator her head I did take a few swings the the weather's been so Ross he's era. This winner of that the the simulators thing then been a lot of fun. We you know there's something about the masters he immunity if even appeared avid golfer played at all Milos amassed enslave them I need to get banks is time it's golf season is this time we get out there. And I will say one thing for Patrick green he wins the masters and all the skeletons come out. Well I mean I went to the University of Georgia and I understand that you know I'd undo a lot of that count on the front and that in my add kicked off the team and in on some things that were. I guess we could sign not not what Bobby Jones. And honor how he would have conducted himself. And so I think that also is kind of the compare and contrast all the stories in the media. Bachus you know Bobby Johns epitomizes both the masters experience. The thing pastor read. Has a chance to redeem himself I think he will be embraced more realities he's wanted you guys you gotta hand it to him he played Gilani down a stretch. Indeed he made a bunch of pressure pots and he had literally three out of thrown four fob bass players oral tracing them. So off our Rory Rory didn't really chase very well what's now the morning but united had Jordan maker Ronnie and Ricky make Iran. And they gave it their all and so you gotta get hats off to to Patrick and I are declared himself well I think you did today. For that for that stays god on now that's history you know what she's went and after the second round for us are looking mouth and trying to figure out exactly who he is and I did read does the him and Rory had a pretty good mass that the latter can't radical idea relentless us site like he was going to be this heavyweight and Rory analogue Roy still got a little bit damaged who want only is he does. That was disappointing I understood a number response. Putts on the front nine that patty made him it would have been much more interesting to write scratch. So you watch. The masters Sunday in in in your data room that day is injury B did for you may know have also helped she do so mother working two parents house. Yes she's done you suffer in my parents house and I thank my Brothers who Gregory do his kitchen and I think Travis may be ever. My brother and Travis are neighbors that have been longtime friends and so I think they're degraded they're cracking up over there as well so maybe in your Brothers and home health care business that's right yes my brother chuck clockwork on who runs. A company called always best skiers Charlotte and so today. Provide. Kind of in hum health care for for seniors primarily and you and I think from four hours today to you know point 47. Which I would like it's not your brother about that we've talked about it in the mom but chuck and Travis at all but we never been able to get Travis in three years on radiate. Grow our line up so yes oh Travis he that not a Harding is. Cattle against a radio and and now is the Eli exhibit he's. I like it but I. I don't let them if you would get chuck in here we hate that I'm here he'd train gave me challenge last season dates in Latin diocese of the one thing I want to use trans on their eighty. And I tried every way to go around certain situations everybody was at a town as a mile itself and is now notes are dishonest thing. Pastor was like how me and said hey man cannot stop working on Travis I think this and I think is coming in him clean black careers sit. Thought I'd come back gift I'm a big Travis fan I would come back if you would would all right everybody I didn't check in what is the deal so my whole life Travis has been. The guy out there Bourque and for the customer and knows that those carpentry light my bandy just knows what he's doing. And then I'm ever hear butterflies in talking stop and I'll disgrace that the travesty shakes his head about we gaining Yang pretty well. But my whole life that's watched him. From all stand points from customers. From people were developing business with two to our employees in into the sub trays that we were whipped he's our home ever body. He related seven all right well it's what you want right now a couple of error as a customer that's you want somebody like Travis looking at Korea to make sure your job of running properly and and now our customers of of two Travis told me years you know. The who's who Charlotte at the does the best businessmen around. They are different Travis and those guys has get arguments on him as they're like Brothers right but that's what they won't they know he's fighting for them. Now aside as much as he's fighting in tone truth don't means absolutely and a so so we'll work on get Travis song all for you Luther. So what are why don't you. Give us a plug for your business and give us a plug for whatever usually gives. Should you plug. Well I appreciate the opportunity to be on the show today and really enjoy working with companies like yours family businesses privately held businesses and really becoming a strategic advisor for those. Those companies and whether that's in we say all businesses the other two things all the make money people work and money at work. And a lot of times in a family business you don't really think about how much capital you have tied up in the business and sometimes you need to exit and sometimes you're better off you know. Transitioning map business to a future generation. And sometimes you may run in the situation there is not somebody in the next generation capable of doing it. And so you know we help companies character through those dynamics and figure some of that now. Wolf great paddock people get a hold look yeah you can it reaches our web site. MBL dash advisors dot com. Great and I almost pay compliment to you we usually ask people what the one lifeless in a business lesson is. I'll tell you this and I'm not the greatest sadness some work Coleman is taller because I'm always going around that you always. The way if you lose you always answered on wanna call so I'm writing that it is it's a very positive thing and resonates. Ninety I don't have a great Sunday.