Longtime financial adviser Connie Chumas retires [The Leader-Telegram, Eau Claire, Wis.]

Sept. 29--Connie Chumas seemed destined for a career in the financial industry.

His father, Sam, was a Greek immigrant who believed strongly in the American dream despite losing a small fortune during the stock market crash of 1929.

The family moved from St. Paul to Eau Claire when Chumas, who recently celebrated his 80th birthday, was in elementary school.

His father believed in investing in America, and that a handshake was an unshakable contract, Chumas said. Sam Chumas ultimately rebounded from the crash to open taverns in Eau Claire and Chippewa Falls.

"They both did well, as did his holdings in the stock market, as he was a great believer in the corporate growth of his adopted country of America," Connie Chumas said. "It was that philosophy that kept me ... building people's wealth and helping investors."

Chumas recently retired as first vice president of wealth management for Merrill Lynch after more than a half-century in the financial industry. He spent the past 12 years with Merrill Lynch after previous positions with Piper Jaffray and Robert W. Baird. He trained a host of brokers in both Eau Claire and La Crosse during a decorated career in the industry.

"I've been investing everyone else's money for 53 years," he said from an office he continues to operate on the south side of Eau Claire, "now it's time to invest my own."

Chumas mentored Patrick Toutant and his son, Michael, who both now work for Stifel Nicolaus in Eau Claire. Chumas hired Patrick Toutant at Piper Jaffray in 1979. Toutant returned the favor years later, hiring Chumas at Merrill Lynch.

"Connie was a great mentor with a personality that you don't see a lot anymore," Patrick Toutant said. "He brought color to our industry."

What kept Chumas in the trade for 53 years were his clients. He relished helping families prepare for retirement and send their children to college.

"I take pride in putting that dollar to work and taking care of it as if it were my own," he said.

"You have to develop a relationship of trust."

His work with clients involved extensive research and algorithms he fine-tuned over the years. He compares the skill with fishing -- another of his passions -- knowing the difference between a snag and a bite.

"You get a feel of confidence that this stock will work and fit that client's needs," he said.

"He builds individual portfolios and is a student of the market," Toutant said of Chumas. "He really was an educator about managing money."

Rewarding career

Awards lining the walls of Chumas' office testify to his wide-ranging influence in Eau Claire. He's particularly proud of an Alumni Distinguished Achievement Award from UW-Eau Claire. The UW-Eau Claire Foundation, Special Olympics and local hospitals are some of the many organizations Chumas has served. He taught finance courses at Chippewa Valley Technical College for more than three decades.

"Connie Chumas has excelled as a businessman and has also excelled as a member of the Eau Claire community," said John Bachmeier, UW-Eau Claire director of alumni relations, in 2001. "From Little League Baseball to the (Luther) hospital development council, he has done some really terrific things for Eau Claire."

Richard Greene was Chumas' classmate in their youth.

"He's been a great friend and involved in an awful lot of charitable work around Eau Claire," said Green, 79, of Eau Claire, who helped Chumas raise capital for Luther Hospital. "He helped out a lot of people who may have been a little down their luck. That showed how generous he can be."

Although work is a priority for Chumas -- he said he never missed more than two or three days in a row with Merrill Lynch -- one of his other interests is on display in the office. He has a Pink Panther mousepad that celebrates the film series that began in the 1960s as well as a wall photo signed by Burt Kwouk, who played Cato Fong in the series. Fong was a recurring character as Inspector Clouseau's servant. He was a martial arts expert who periodically ambushed his boss.

"I am a huge Peter Sellers fan," Chumas said.

Chumas graduated from UW-Eau Claire in 1960. He met his wife, Jan, during college and secured a degree in economics. His tenure with the Spectator student newspaper included an interview with Joe McCarthy during a visit to Eau Claire.

Outside interests

Chumas' passions outside the office also have included baseball, fishing and horse racing.

He was employed by the Eau Claire Bears during summers in the 1950s and often would work out with the team. Bill Adair, club manager, would let Chumas pitch batting practice because he was left-handed. Hank Aaron, who Chumas said "had quick wrists, a beautiful follow-through stroke and solid, strong hits," was one of the batters he faced.

"I looked forward to every chance," Chumas said.

He also is a decorated musky fisherman. He has fared well in tournaments and has a 42-pound catch on his resume. Some of that success occurred at his cabin on Grindstone Lake in Hayward.

Horse racing became an interest for the Chumas family in the late 1980s. What started as a hobby grew into Connie and his wife having more than a handful of stakes winners running at tracks around the country.

Future goals

Aside from managing his own investments, Chumas is in the early stages of developing a financial curriculum for disadvantaged youth and adults. He envisions bringing bankers, insurance representatives and other professionals together in an effort to educate participants. The course could lead to a certificate for other types of recognition for the students, he said. One of Chumas' four children is a decorated Special Olympics athlete.

Chumas also will continue to build wealth, and, for those new to investing, he offered a few sage words of advice:

"Have patience, only invest what you can afford, and don't speculate. The beast of greed is never full. It's insatiable."

Marlaire can be reached at 715-833-9215, 800-236-7077 or [email protected].

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(c)2013 the Leader-Telegram (Eau Claire, Wis.)

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