A financial planning firm that has operated in Starkville for decades will soon have a new home on Lynn Lane.
McNeal & Randall Ameriprise Private Wealth Advisory Practice has announced it will relocate from its current location on South Lafayette Street in downtown Starkville to 47 Lynn Lane in the Laurel Pointe Development.
Financial advisor Eddie McNeal told the SDN in an interview Tuesday the move was made attractive by the convenient allure of Lynn Lane.
"Lynn Lane is a crossover between Highway 25 and 12, and we wanted more parking for our clients," McNeal said. "It's getting to be a big issue downtown."
The company has been renting space from the Greater Starkville Development Partnership, but hopes to move in to the new 2,000-square-foot location in December.
"Highway 12 is getting full, so where are businesses going to go?" McNeal said. "And the next available space is Lynn Lane."
McNeal said the firm also has the option to add an additional 1,000 square feet to the project.
The tract of land on Lynn Lane was purchased by the firm from the Josey family, who also sold a nearby tract to Dairy Queen where the new Starkville eatery is located.
Tabor Construction & Development is serving as the contractor on the project and Thomas C. Stewart is the architect.
"We are complying by all the city codes in terms of landscaping, trees and a pleasant exterior," McNeal said. "It's not going to be all concrete."
McNeal has been a financial advisor for nearly 30 years and said he hopes the new office will be more appealing to younger clients.
"We want to make it more accommodating for younger professionals, with video conferencing and things that would appeal to younger professionals," McNeal said.
Working alongside McNeal is his daughter, Carrie-Beth Randall.
"(Randall) has a group of younger professionals that work with her and this new space will help us," McNeal said.
While many financial advising firms focus on the Baby Boomer generation, McNeal said 10,000 baby boomers are retiring every day and that trend will continue for the next 15-plus years, which presents the need for a focus on the next generation.
"Behind that will be a generation with a lot of wealth transferred to Gen-X, Y and millennials, more than any time in our history," McNeal said. "This is the greatest wealth transfer
in our history."