By Kathleen Ganster
Carol Hurley may be in the financial planning and insurance industry, but she does a great deal of education.
Hurley, who owns Hurley Associates with her husband, Neal, said that education is one of the key components of Hurley Associates.
“We want to work with our clients to help them make the best decisions financially,” she said, “We went them to understand their options and let them know we can be the resource for whatever they need financially.”
Hurley Associates was founded by the Hurleys in 1988 and has two distinct companies – one that provides financia services and one that is a property and casualty insurance agency.
According to Hurley, while providing financial planning for their clients, many of those clients were asking Hurley Associates to provide the insurance that they needed.
“It seemed like we were sending them to others that may not be serving them as best as we believed our clients could be served, so in 2009, we added our property and casualty insurance company,” she said.
The added services proved to be a smart move, because many clients – many who are busy doctors and other health care professionals – appreciated the “one-stop services” for their financial needs.
To take the convenience factor one step further, 10 years ago, Hurley Associates relocated their offices from downtown Pittsburgh to Fifth Avenue in Oakland, a location directly across the street from UPMC-Presbyterian Hospital.
“They literally cross the street to meet with us, or we go to them,” she said.
Hurley Associates also provide workshops to the residents and fellows at UPMC.
“Through these educational programs, we tell them to look at their own financial planning and insurance needs and to plan for the future,” she said.
It is hard for many of the young doctors to know all the ins-and-outs of financial planning, said Hurley, so they provide them with information and resources so they know how to “ask the right questions.”
“Of course, it is hard to make them financial savvy in one workshop, but we let them know we are there to help them, to try to give them a perspective of what they should be thinking about,” she said.
Hurley said they help the residents plan for the future, so they don’t make the common mistake of purchasing over-their heads when they begin making a larger salary.
“We don’t want them buying new, big houses without thinking of their loans or other needs,” she said,” When they finish their residencies, they need to take everything into account.”
According to Hurley, they help the new doctors “keep their feet on the ground,” as they adjust to their new lives.
They can also assist clients all over the country.
“We have clients all over the U.S. Once we work with the residents and fellows, as they move to set up their practices, we can maintain those relationships and work with them as they grow financially,” she said.
Hurley Associates educates all of their clients, she said, helping them to see the overall picture.
“It may seem like they can save money on an insurance policy, but then the coverage and protection may not be what they need. The extra savings isn’t going to mean much if they don’t have the proper coverage – that could be catastrophic,” said Hurley.
Hurley said they enjoy their relationship with the University of Pittsburgh and UPMC and have become a trusted source for them.
“We can help them help their doctors and staff,” she said.
Because of their longevity with the medical field, Hurley said doctors like working with them.
“We ‘get’ them. We don’t try to oversell them services, we know their needs and work with them through every stage of their careers,” she said.
Hurley Associates is located at 3508 Fifth Avenue, Pittsburgh and may be reached at 412-682-3299 or www.hurley2.com.