Nick Massey celebrates 45 years in the investment business
January 10th was a special day for Edmond Business columnist Nick Massey, president of Massey Financial Services, marking 45 years of being in the investment business. Let’s take a look at Massey’s background and the journey he’s gone through over the past 45 years.
Before working in the finance industry, Massey served in the army as a counterintelligence agent for over nine years. While he enjoyed it, he was ready to start a new career.
Massey explained that the investment world in 1977 was much different than from today.
“When you got an order, you wrote up a ticket and ran to the wire operator in the office. She would send it via teletype to our desk on the trading floor at the stock exchange,” said Massey. “As for customers, you either got your stock quotes from reading the Wall Street Journal or local newspaper the next day, or you called your broker during the day to get current stock quotes.”
Once Massey began his new career with Dean Witter, he looked forward to Wall Street—analyzing companies, picking great stocks, and trading the markets. He could hardly contain his excitement.
He then learned that his new job didn’t want him doing that. Instead, they told him, “Don’t be thinking too much, kid. Just sell what the analysts recommend.” He quickly found out they do not provide clients or prospects; he had to find them on his own. Feeling slightly discouraged but still motivated, he learned how to cold call and reach out to prospects.
“I don’t think I ever met anyone during those days who called themselves a financial advisor or planner. Maybe there were some, but I never met one,” said Massey. “In those days, you would call up your clients or prospective clients with a good stock or bond idea. If they bought it, you got a commission on the trade.”
It was a flawed business model, and Massey is fortunate that the business model has changed since then.
After the first few months of working with Dean Witter, Nick’s manager and good friend Ralph was promoted and moved to a bigger office in a different area. Massey looked up to Ralph and even considered him a mentor.
Unfortunately, the replacement manager was not the biggest fan of Massey—even told him that he wouldn’t make it and lowered his base pay. Massey decided to prove him wrong.
His formal training lasted six months, and Nick was second in a class of 70 people.
“Just before class ended and we were due to be back in our branch, another guy from my branch and I were making cold calls at night because we each wanted to be the first to open an account once we got back,” said Massey.
Nick won and opened his first account on the very first day!
Because of his successful first year, he was invited to San Francisco to speak to a training class about his success and how he got there.
In 2004, Nick started his own firm, thanks to his wife’s suggestion and encouragement.
“I was complaining about all the business travel and life in big corporations, and she asked, ‘Why don’t you start your own firm?’” said Massey.
He hadn’t really thought about it, but after giving it some thought, he decided to go for it.
He faced the normal challenges and setbacks that every business endures, but his business was and is still successful. Massey says he wished he had done it sooner.
After 45 years, Nick is still committed and doesn’t plan to retire any time soon.
“There are still too many things to do, too many new things to learn, and too many new challenges to meet,” said Massey.
The finance industry can be challenging, but with hard work and dedication, Massey has been able to celebrate 45 years worth of success and plans for more. Congratulations, Nick Massey!
Subscribe to Email Updates
Get Edmond Business news in your inbox.
About Jackie Bell
Jackie Bell is a digital marketer at Palladium Roofing who does writing, editing, and marketing things. Outside of work, she can be found reading a book, writing poetry, or binge-watching one of her many favorite shows. She is an introverted extrovert, and her friendship can be earned with Texas Roadhouse rolls or by simply being a good human.