JMMB Group brought a different twist to wealth creation and money management, during its recent lifestyle event dubbed, “Money and Mixology,” at its Ocho Rios branch, located at Island Village Plaza. 

The event was used to create a perfect blend of financial education, frolicking and financial planning in an intimate setting.  

Richard McKenzie, a financial solutions advisor at JMMB’s Ocho Rios branch, led the mixology segment supported by Barrington Martin, of Events 4 U, where McKenzie shared pointers on how to create the perfect cocktail to match one’s unique appetite, preferences and environment/ setting.

Juxtaposing the creation of a conservative portfolio, which consists of largely low-risk assets like repurchase agreements (repos), preference shares and cash, McKenzie likened this to a “safe drink option” like a rum punch which has “familiar ingredients, widely consumed and is great for even the most risk-averse individual at the bar.”

This drink is great for ‘newbies’ or can form a part of your portfolio if you want to preserve your capital.

For an individual looking for a more “complex drink, layered with varying ingredients to give a perfect blend based on your taste, with an added zing in the form of alcohol,” McKenzie recommended the tequila sunrise cocktail.

“The varying allocation of the ingredients of tequila sunrise cocktails namely: orange juice, grenadine syrup, tequila and garnish, can be compared to the allocation of different assets such as bonds, real estate, treasury bills and equities/ stocks or a managed portfolio such as the JMMB Wealth Builder, that is a unit trust fund that consists of a combination of these various assets.” 

The ‘financial mixologist’ noted that this cocktail can be modified based on the individual’s preferences and is best suited for a moderate or moderately aggressive investor who is looking to beat inflation. “The allocation of each of these ‘ingredients’ in a client’s portfolio will be determined by your financial advisor’s assessment of your goals, risk appetite, financial circumstances, objectives and time horizon,” explained McKenzie.

While touting the benefits of investing towards your goals, McKenzie outlined that taking a loan is an option to seize opportunities that will generate wealth over time, or help you to achieve your goal now. Similar to a Long Island ice tea, which is known for its complexity and mix of alcohol including: vodka, tequila, light rum, triple sec, gin, with a splash of cola; the loan process has a detailed documentation process and varying stages to get the desired outcome.

The financial advisor encouraged that this ‘cocktail’ has a high alcohol content, therefore careful consideration should be given before consuming. As such, a client should pay keen attention to his/her financial circumstances, creditworthiness, interest rate and goal to ensure that this loan does not ‘impair’ his/her other goal achievement and/or builds wealth.

Ahead of inviting clients to enjoy the evening, the financial advisor shared, “As you order what want at the bar, you can benefit from the expertise of the bartender to help you to select that perfect blend that matches your unique taste, JMMB is your ‘financial mixologist’ offering a cocktail of financial solutions to meet your needs, whether it is a loan, savings, investments, insurance or pensions.”

Shane Warren, manager of client partnership at JMMB Ocho Rios, shared that the concept of ‘Money & Mixology’ was fun and effective in making the seemingly complex matter of financial planning less abstract and more memorable and applicable for clients, while also giving the team an opportunity to deepen client intimacy, which is a priority for the group.