Meet Kevin Wright our ultimate hero, giving back to our uniformed heroes and helping our LAFD firefighters and their families in time of need.
Without the generous support and commitment from gracious donors such as Kevin, we would not be able to help our Los Angeles City firefighters and their families deal with tragedy. Kevin not only donates his own money; he also helps firefighters live the life they deserve in retirement. He’s made it his business to volunteer and give back, sponsoring events to help our first responder families get back on their feet after a catastrophic incident.
A true hero to our heroes
Retirement and investment manager Kevin Wright has the heart and soul of an angel. For more than a decade he has helped firefighters retire and live a happy life into their elder years. An avid golfer, he uses his skills on the course and his passion for bringing people together to help the Widows, Orphans & Disabled Firefighter’s Fund. The charity comes to the rescue of members of the LAFD and their family members who need help after facing a serious crisis. Many firefighters are severely injured on the job; some killed in the line of duty. This is where Kevin steps in.
“I sponsor many of the events they have for charity, they have the annual invitational which is a get together for the widows and orphans, a golf tournament, I usually sponsor the shirts and put together one or two teams.”
“I usually try to find the best golfers in the LAFD that can take home some prizes. It’s always fun, there’s generous gifts out there all the time and it really helps out and the association and the officers always thank me personally anytime that we give and it feels good when you know it’s directly helping somebody get their medicine, help with rent, or whatever it might be that stresses people at night about money. If we can raise money for them and help, through golf tournaments, or we’ve done bowling tournaments, there are all kind of things the Relief puts on, and Association events that goes directly to widows and orphans.”
Over 15-years Kevin has donated tens of thousands of dollars of his own money. He explains how he got hooked up with L.A. City firefighters in the first place.
“I was volunteering for the city of Los Angeles. I was chairman of the banking and finance committee under Mayor Hahn in 2003 and 2004 and I was sitting in the Bradley room upstairs for a fund event, actually the Relief Association and a lady who was representative of the L.A. police department asked me for my business card, who was about to retire, was in a special retirement account with the police and fire fund called The Drop.”
The Drop is a special retirement program for the LAPD and LAFD.
“So, I inquired about that and once I found out the details, I’ve been to 103 stations since! I have 175 retired fire guys who have retired from the LAFD department, so it’s going to be, very successful and service the guys that help us in our community. It’s a big honor!”
Getting down to business: anxiety and trust
“Once I found out about their retirement plan, I knew they had a credit union that was servicing their retirement, but it seems like everyone was going to the credit union, no one was going to the stations. I started calling up the stations saying I understand you have a special retirement plan, how can I come down and help and they were very, anxious about me coming down and talking about it. They’re so many guys in the system, they were anxious about how I handle things, what my philosophy was, I was new to them, coming into all this money, (they) wanted to make sure they could trust someone handling it, they didn’t want to do it on their own. They didn’t want someone they didn’t know handling it. And so, we built a good relationship over the years.”
Bonding on the links
Kevin says there’s something special about getting on the golf course. It’s a time of bonding.
“We have a number of tournaments always set up, the police, have their own, the fire have their own associations and they run monthly tournaments 60 to 80 retired service police and fire out on the golf course having a good time. Obviously out on the golf course if you played, you can check someone’s personality. If things aren’t looking good and they’re having a bad day on the golf course, I don’t know if that’s going to work well for our financial situation. And the same thing with me, if I’m not having a good day and start losing my mind, they’d be like—oh—oh… that’s ok! It’s a good place to figure each other out. And make sure we have good communication. “
Getting to know his clients and understanding their needs is a key part of the job. “I understand especially with police and fire, you have a pension, you have equity in the house, you have the retirement plan, you really have all three legs of the stool. Even when the market is volatile, things can get a little crazy. We know that’s not our only investment. Clients feel more confident in what I tell them, more confident in their long-term plan, there’s less worry, less worry when you have a pension. The pension is something they paid for, took 9 percent of their pay, for 33 years to fund. It wasn’t a gift from the city, it wasn’t a gift from me, I’m going to help them manage that. In conjunction with their other assets, to feel confident going out golfing, fishing, whatever they need to do in their retirement.
They don’t have to worry in the long term, also, we look at long term care planning, adult planning, memory care, these are coming up very quickly for my senior clients, I’m trying to address those personally, with my own family, so I empathize, a lot with what they’re going through with this large intergenerational transfer of wealth.”
Managing assets
“The parents of the firefighters (are) passing, and passing their assets down to the clients and those clients want to know, what is the best way to manage those. So, knowing the client ultimately from before they retired, to retirement, during, after retirement, gives me the opportunity of really knowing them. I can give honest recommendations. “
What are the firefighters’ main concerns?
“It’s new money they haven’t managed before and they don’t want to screw it up on their own, they don’t want a guy like me to screw it up. So, we do it together in a way that makes sure they’re comfortable with asset allocation, risk tolerance (that) meets their needs as far as income and providing a supplement to their pension, and living that life they were promised when they got on the job and served the city of Los Angeles for 30 something years. I’m trying to help with that promise so they feel confident and comfortable with their retirement future.”
When you’re rescued by a firefighter
Kevin says a firefighter who’s legendary within the department truly inspired him. LAFD Battalion Chief Steve Ruda.
“I lost my dad when I was a young man. All these men and women I look up to. Not to take the place. Just good people I can draw from in my own life. I think Steve Ruda is a good guy, he was spokesman for many years with the Relief Association. One of the guys that encouraged me while he was still on the job. He thanked me. There’s a number of guys, I can go down the list. Steve Ruda is one that sticks out, of course.”
A special honor: Kevin earns a firefighter axe
One of the biggest gifts we could award Kevin was the famed fire axe, specially crafted to show our appreciation for his service to our firefighter charity. We’re happy to say the fire axe holds a special place in our hearts and Kevin’s.
“The first time they were going to do an expose on my business and volunteering, they invited me down to 88’s to do a story and shoot with a bunch of firemen, and as I walk in here comes the axe with my name on it, I said that that cannot possibly be for me! It’s for people on the job for 30 years! They said you’ve given to the whole organization. I was blessed and honored in 2018. I had a picture blown up with one of my buddies Paulie, and Jimmy and a couple of the guys of the 88’s. I’m blessed to be presented with the axe, I have had it in my office for the last 4 and a half years. I don’t think there’s a trophy I honor more!”
It is an honor to thank Kevin for his generous donations, his help, and his undying love for golf. He admits, being on the links is one of his most favorite places to be.
“The golf is great. I get a chance to see my clients and other members of the fire department, in a relaxed and comfortable environment where we can talk and build relationships.
But it’s been an incredible opportunity to give! I know money is going to police and fire, going to the Relief Association. I know, it’s helping members and members who are not my clients. It’s an honor to go to tournaments, the comradery, the companionship, just getting out there, blowing off a little steam with each other is fantastic.”
By Charles Stewart