After 35 years as a financial advisor with Edward Jones Investments, Yankton’s Wayne Ibarolle is retiring and turning his business over to son Jerod — already a successful financial advisor with Edward Jones, but in the Dallas area.
Wayne started out with Edward Jones in Charles City, Iowa, in 1984. In 1990 he and his family were relocated to the home office in St. Louis and worked more with East Coast clients until 1994.
"In the epiphany of our lives, I realized that I was doing it all wrong," Wayne said. "I had my career first, I needed to have my God first; my ego was second and I needed to have my family second. Moving to Yankton was an opportunity to realign all of those things."
The Ibarolles moved to Yankton that year, and as Wayne settled in in his new office, his son Jerod enrolled in Yankton Middle School. Jerod graduated from Yankton High School in 2000. From there Jerod left Yankton for St. John’s University in Minnesota, where he earned a bachelor’s degree in Communications.
Wayne Ibarolle is originally from Alameda, California. He played basketball in college for the University of Nevada in Reno, then attended the University of Tennessee with the intention of studying veterinary medicine.
It was then, in the late 1970s, that he met his future wife Lori, and plans changed.
"I graduated from Wayne State College in Wayne, Nebraska, actually," Wayne said. "I went to work right away after college for Ralston Purina and met a fellow who was in the securities industry, and the rest is history."
By 2010, Jerod was working for a corporate travel company, traveling frequently and seeing the world. On New Year’s Eve, while his parents were visiting, Jerod made an announcement.
"Jerod opened a drawer and flipped an application to me and said, ‘Dad, I want to show you what I’m going to do next,’" Wayne said. "It was the Edward Jones hiring packet. It was a 10-step hiring process. He’d been through all 10 steps, he’d been offered a contract and I didn’t know anything about it until that moment."
Jerod had already married by that time and realized that the 300-plus days of travel demanded by his job wouldn’t work well with their new lives together.
"It was actually my wife (Ashley Ibarolle) who suggested that I look towards Edward Jones," Jerod said. "She is really the reason that I went through the application process and did not tell anybody until I was hired."
Wayne, who by that time had been with Edward Jones for 25 years, was surprised that his son had not come to him. He explained how he could have facilitated the hiring process for Jerod.
"He said, ‘Dad, I just want to do it on my own.’" Wayne said. "So the next thing I said, being the good listener that I am, ‘Jerod, why don’t you come to Yankton and I will help you get started?’ He said, ‘Dad, apparently you didn’t hear what I said. I just want to do it on my own.’"
Jerod Ibarolle’s position with Edward Jones took him to the greater Dallas area. He opened an office in Frisco, Texas, where he stayed for eight years.
"I built the business from scratch, the way I was trained: making face-to-face-contacts, meeting people in person and developing relationships in Frisco and the surrounding areas," Jerod said.
"It was tough to leave a business and relationships that I had built from the ground up, but at the same time, there’s an opportunity with Wayne deciding to retire to come back to my hometown."
Last August, Jerod, Ashley and their children made the move to Yankton.
For Wayne, his son’s move felt right, especially after a traumatic event. Wayne’s daughter, Khrista Ibarolle, was gunned down in an attempted mugging outside a restaurant in El Dorado Hills, California.
"I think with the death of our daughter in 2015, it kind of reframed our priorities that we saw for the rest of our lives," Wayne said. "It seemed like it was the right time. Jerod consented to move his family back to his hometown and raise his kids here.
"I am just honored and privileged to have Jerod come to Yankton and care for clients that have been so kinds and trusting and loyal to me," Wayne said. "We have fifth-generation families that we are working with."
The Yankton office of Edward Jones opened in 1972. Wayne was the fourth financial advisor in that office; Jerod will be the fifth. The model at every Edward Jones office, is a financial advisor and a branch office administrator (BOA) working closely with the clients. Ibarolle’s BOA, Sheila Steiner, who has been with that office for 12 years, will be staying on in the same capacity with Jerod Ibarolle.
"I have never met a person with more capacity for work, more discipline than Sheila," Wayne said. "She has this unique ability to be inside all of the responsibility and dive out of that place and be so personal with people. Knowing that Sheila was staying made a huge difference as well (to the clients)."
Wayne’s practice is being split between Jerod and two other local Edward Jones offices: that of Stacy Hubert and BOA Theresa Burbach and also Christopher Marlow and BOA Kim Leader.
"Sheila and Wayne sat and literally went through every client, name by name, and handpicked each person and who they are going to work with based on personality and all the history," Jerod said. "People are very appreciative of that forethought, appreciative of the introductions — every one that could be made (in person) has been made."
Wayne’s goal was to manage his clients’ transition to a new financial advisor with the same personal attention he had given clients throughout his career.
"I wanted to make sure that I handpicked the advisor they were transitioned to," he said. "I wanted to be sure that I made personal introductions so they could know that Stacy was the right person for them, and that she is very talented; so they could know that Chris was the right person to care for them, and Chis is very talented; and so they can know that Jerod is — even though he is my son. I had to be as objective as I could and describe how I see each of them.
I couldn’t be any more fortunate (than) to have these three financial advisors to transition relationships to. I trust them implicitly; they are people of faith; they are people of integrity and I think that’s exactly what it takes to do our job."
The transition is nearly complete, but Wayne will still be available to the new financial advisors
"I refer to Wayne as the historian for me (regarding clients)," Jerod said. "I get to review accounts with him, and I get that access for two years," Even when Wayne steps away, I still have the ability to ask him and review, and he gets to be an advocate for the client, which is very important for the people sitting on the other side of the desk."
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