BISA Portfolio Podcast
BISA Portfolio Podcast
Portfolio Podcast Episode 13: Circle of Excellence Awardees on Fostering Community
In this episode of BISA Portfolio Podcast, Jane-ellen Porter interviews Circle of Excellence Awardees, Jim Nonnengard and John Olerio, on how they've fostered community throughout their careers.
They discuss:
- Their many years taking advantage of all networking opportunities BISA provides
- Strategies for seeking and developing community through networking
- How competitors become friends through BISA connections
About Jane-ellen Porter
Jane-ellen Porter is senior vice president and affluent regional sales manager for Wilmington Advisors @ MT. In this role, she is responsible for managing the development, sales and relationship management of the Southern Connecticut and Tarrytown, New York investment and life insurance solutions and services offered through the Financial Advisors and Licensed Bank Employees.
About Jim Nonnengard
Jim Nonnengard serves as president of Regions Investment Services for the Wealth Management Group at Regions, a regional bank that operates throughout the South, Midwest and Texas and is headquartered in Birmingham, AL. He is responsible for providing executive and regulatory oversight of the Investment Services Department, which is comprised of Securities Licensed Financial Advisors and Insurance Licensed Bankers.
About John Olerio
With over 30 years of industry experience, John has focused his career on being a program manager for large regional banks with extensive experience with TPMs. He has been with Webster Investments since 1997 and has implemented short-term and long-term strategies to help set the directional course for the business line. John provides strategic strategies to the Community Bank and implements business plans that drive growth for the bank.
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DISCLAIMER FROM LPL
The opinions voiced in this show (program) are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult with your attorney, accountant, and financial advisor or tax advisor prior to investing.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Webster Bank and Webster Investments are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Webster Investments, and may also be employees of Webster Bank. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Webster Bank or Webster Investments.
Securities and insurance offered through LPL or its affiliates are:
| Not Insured by FDIC or Any Other Government Agency | Not Bank Guaranteed | Not Bank Deposits or Obligations | May Lose Value
LPL Financial, Webster Investments and Webster Bank are not affiliated with BISA or any other referenced entities.
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BISA is the leading financial services industry association dedicated to serving those responsible for the marketing, sales and distribution of securities, insurance and other financial products and advisory services through the bank channel.
Jane-ellen Porter 0:09
Welcome, everyone to the BISA Portfolio Podcast, a podcast elevating members voices from BISA, the leading financial services industry association. I'm Jane-ellen Porter, guest host for this podcast highlighting two of our 2022 Circle of Excellence awardees, John Olerio and Jim Nonnengard.
Jane-ellen Porter 0:30
They will be sharing their experiences navigating the world of the bank and insurance securities and how they found and created community along the way. Welcome, Jim and, John. I am so excited to be with you guys this afternoon in celebrating your success with the Circle of Excellence Awards.
Jane-ellen Porter 0:48
I want to share just a bit of my own background on knowing both of you before we get started. So I've had the incredible pleasure of knowing both of you for quite a few years, and through BISA and some of the peer groups that we have formed over the years. And you know, when we're talking about community, and I think about my own community within the industry, you're two names that pop into my head as supporters and peers to bounce information off and how important that has been to my career. So before we get going, I want to thank you both for everything that you've done for me and our program throughout the years. So I'm going to turn to each of you and ask you to share a bit of your own background, about where you started, how you got to where you are, and the importance of creating community within the association along the way. So Jim, I'm gonna turn to you first.
Jim Nonnengard 1:41
Hey, good afternoon. Thanks, Jane-ellen, and it's great to hear you, John. Thanks for the opportunity. I'm Jim Nonnengard and I'm the head of Regents Investment Services, which is Regions Bank. 15 states in the southeast, headquartered in Birmingham, Alabama, and been in the business since 1985 doing various things along the way. I'm sure we'll talk about it. But I really enjoyed my experience with BISA. I really encourage everybody to get involved. There's so many communities out there that we're going to talk about that some you don't even see. And just this one with Jane-ellen and John as one but also all of our board members at BISA. Just a phenomenal opportunity and just a great opportunity. So I'll let John go and introduce himself and then we'll get into the program.
Jane-ellen Porter 2:31
Great. Thanks! John?
John Olerio 2:34
Thank you, Jane-ellen. And hey, Jim, how are you? Great to be here with everybody. My name is John Olerio. I am the head of Webster Investments at Webster bank. And I have been at Webster for 25 years. And I have been a long standing member of BISA and have also had a tremendous partnership with LPL for the last 15 years. 25 years at Webster, there's been so much that's happened and so much involvement and yet, so much just seems the same. It seems like home, which is great. And it is. But I've been in the investment business in total for 35 years. And hopefully we can share a little bit of that today about our experiences, and we can talk along the way.
Jane-ellen Porter 3:13
Great. So I just want to kind of have a really open conversation to begin with to talk about how did you both get involved in BISA? I mean, you both have been such great leaders for the association. You know, Jim is one of our past presidents, John as our new president coming in. But can you talk about how you got involved at the very beginning of your time with BISA? And I'll start with you, John, and then open it up to just an open discussion.
John Olerio 3:41
Awesome. It's been, I would say close to 15 years that I've been associated with BISA. I first was introduced by my supervisor and boss and friend at the time and mentor and that was Tom Howe, who was a board member of BISA and who also was a Circle of Excellence recipient. And I won't say that I follow in Tom's footsteps, because they're too big to follow in. But I certainly learned a lot from that fine gentleman and still continue to to this day. But he without a doubt just told me, 'You're going to get active in BISA and it's going to help your career.' And Tom was always right. And he certainly was right about that. And it didn't take any arm twisting, my very first BISA conference, I walked in, wide-eyed sales manager, and I just saw so much opportunity to learn, to meet peers, and to really, you know, establish myself in the industry in a way that could be unique and that could help me to help my team and also help others around me and participate with others. So I felt an immediate sense of community. From the very first event I attended. I have to say.
Jane-ellen Porter 4:49
15 years. Wow. Jim, how about you?
Jim Nonnengard 4:53
Yeah, it's been been a ride. How a kid from Buffalo, New York got to Birmingham, Alabama, we don't have enough time for that. But I did things others didn't want to do, put myself forward. I had heard about this BSA, at the time, convention and the agenda looked good. And I talked to my boss and he thought it was a great idea, he ended up, John Porter was one of my mentors from South Trust securities, actually was involved in the board up until the merger of South Trust . And he also was the president of BSA, my point. So I got to go front and center I got a lot of introductions from him. And my first BSA conference, John was at Torrey Pines in California. And our speaker at the time, many years ago was Larry Kudlow, and nobody knew who he was. And I felt bad because he, he was speaking on a Friday morning and everybody left. And so it was, that was my first inclination is like, you know, you got to stay, you got to learn, you got to meet, you got to make friends, you got to network. And I've been hooked ever since. And my team is hooked.
Jim Nonnengard 5:58
When we were at South Trust, and before we became Regions and South, we were heavily involved with BISA. It's been great connections. And it's not just connections with guys like John and Jane-ellen and the other board members, it's the other communities that exist, the ops people, the technology people, wholesalers, people that are all out there, and I tried to figure out how to leverage how they could help me, and now I'm in the position to see who I can help. And it's real funny during the holidays, you get a lot of calls from people just checking in on what's going on. And some of these people were at that conference in Torrey Pines. We talked about it. But we're still friends, we're still talking. And we're still trying to get to a mountain that has no top, and it started all with BSA and every one of those people over the years has been a resource, being able to call them and to bounce ideas. And then the whole other community that supports us, and not just the back office ops, but to the whole community through our vendors, whether they be mutual funds, insurance, you know, on the money management side, they really propel us and really help us a lot. And really what I would say multiplayer program, you do a do a phenomenal job and forever indebted to all those people who have helped along the way. But BSA has been fun. And I've seen it change. I've seen it move. And it's just a lot more people involved, a lot more diverse. And there's some great people running programs and some great people that are down there, running the back shops that I encourage everybody to go and meet because here I am 40 years at BISA and I'm still talking to somebody that I met 35 years ago. And we're still talking about how to get his fun on the platform. So that's just all fun stuff. We ended up being friends and we can talk very open and frank. And it's just really been really a wealth of knowledge. And then with the board, not just the board meetings, but the one offs at lunch and afterwards and cocktail receptions just when you really find out what's going on. So I encourage everybody, thanks.
Jane-ellen Porter 7:59
Yeah, lots of fun times over the years. So before we really kind of dive into some of the questions I have for each of you, I do want to remind everyone about what the Circle of Excellence Award is. And you know, it is BISA's most prestigious award and honors and celebrates our extraordinary leaders for their long-term commitment to the profession in the association. And as John and Jim have said, together, they have 40- 50 years together with the association. And to be eligible, candidates must be a senior level executive with their institution with a minimum of 20 cumulative years of experience in the industry as a whole and really have made a meaningful contribution with a lasting impact to the association in the industry, which you both certainly have. Candidates are recognized among their peers for their outstanding vision, innovation and career achievements. In our last episode, I did speak with two other prestigious 2022 awardees that was Ram Nagappan and Howard Hammond, and they both discuss cultivating growth through their careers. And if you haven't yet, I'm going to ask everybody who's listening to today's podcast to please take a moment to listen to that episode. And leave the podcast a rating and review it while you're out there.
Jane-ellen Porter 9:23
So I want to dive in to our discussion today, which is going to be a little bit different than our discussion with Ram and Howard. And really, again, I want to touch on your experiences and strategies for networking. How you know, again, this community has helped to build you and your programs and and what you've seen over the years. So I'm going to start with, and of course before I get started, know our annual convention, which really is the annual cultivation of the whole industry as a whole and, as you both have just said, it's just such a great experience for everybody. And of course, we've got other things that go on throughout the year that keep us all together. So John, I'm gonna start with you, if you could just tell me what it means to you to be a Circle of Excellence winner, and can you share what your reaction was when you were nominated?
John Olerio 10:14
Yeah, I was pretty surprised to be nominated for sure. And I was extremely honored. And then to be chosen was all that and much more, I really do feel it was a big deal for me, because BISA has meant so much to me. And I have developed. I'm so glad that topic of our discussion today is community because it has been such a critical community, for me. And for my entire team at Webster. I feel BISA is a family for me. Webster has been an incredible part of my life and a family for me. And a countless number of times that I have just been able to lean on the community at BISA for the benefit of my community and my team and for all of us at Webster. So I was certainly very happy. And the biggest thing I think is I was was proud for Webster. We're growing, so we are twice the size with our recent merger, but you know, for our size bank, for us to be able to develop, you know, I think a top tier investment program alongside all the top tier other services at Webster, every time we get recognition of what a great place Webster is just makes me proud to be there. And to continue to be a part of the executive team there.
Jane-ellen Porter 11:36
Thanks, John. Jim, same question for you.
Jim Nonnengard 11:40
Yeah, I was very surprised and incredibly appreciative. And to this day, I still don't know who nominated me. So that's pretty cool, too. So I'm just thinking everybody did. But no, it was a great honor and recognition of work and the recognition of my passion for the industry, and just a recognition of a very fortunate career. And, you know, I thought before this call of the people that have helped me along the way, and I can't list them all, but we had an earnings announcement this morning and had a couple hours to get some lunch before I got here and just thought about how the heck did that happen? And how the heck do I know that person for 30 years? And, you know, how did somebody see something in me to give me that opportunity.
Jim Nonnengard 12:22
And a lot of it started with, like I said, doing stuff that other didn't do. By stepping up, making myself known, I did that at BISA, participated in roundtables and peer-to-peer groups, worked the room and you started making connections, the next thing you know, you're doing business with somebody, and they're doing a rate campaign, or they're coming in and want to put their products in your manage money platform in your golfing with them. And then I know a lot of these folks' kids' and wives' names over the year. And there's several on the BISA board that really helped me along and selected and just have been really good. But, you know, I look forward to going again, look for it's changing, it's awesome, new folks getting involved.
Jim Nonnengard 13:09
You get out of the association what you put into it, you get out of roundtables and peer-to-peer discussions what you want out of it. And if it's just to go down and work a room or go out by the pool, or go to two sessions, and then out of there, which some people have, particularly on our partner side they're going all over the country. But just remember, you get out of it what you put into it. And I remember going to my first BSA conference, John, out at Torrey Pines, and I just looked at the attendee list. And while I didn't know their names, I recognized the banks that they are with and I was like, holy tamale. This guy runs all of Wachovia Securities
. Oh, this guy runs Bank of America. And it was, how can I figure out how to make myself known? Just if nothing else, have a handshake and how you doing? I will say on the Circle of Excellence, the best thing was going on stage, Jane-ellen, right after Nick Saban. And that was a little intimidating. We're here, we're roll tide. My daughter's an Alabama fan. And Nick Saban talked to me. He said hello. So I was really excited. And just working with Frank Consalo and Mike Miroballi. During that and then some folks that have moved on like Dan McCormick, really been a pleasure to be around.
Jane-ellen Porter 14:26
Yeah. Yeah, I remember my first BISA convention, like the actual large conference, was at Doral. So I don't even know how many years ago that was. But, you know, again, same as you, right, that we met so many great people. I think back all the years that I've been going as well, being with all of you. THen I think about last year, right? That conference was, it was amazing because none of us had been together as an industry since March of 2020. Right before everything shut down, and It was just so awesome to all be together and share the ideas and how much things actually had changed from the technology that we'd all been using, and all of the different topics that just two years ago probably wouldn't even have been on our agendas. So, yeah, I think it's really important to share.
Jim Nonnengard 15:18
What's really interesting is a lot of my team now, they've been asking just in the last month, can I go, do I get to go this year, and we can't send everybody, and it's quite an honor to be able to go down and network and meet people, and they're starting to know people. And a couple of folks that work for me are on some peer-to-peer and roundtable discussions. So it's really, really satisfying to me to see the next generations come on up through and participate in the association so that it remains healthy, it remains relevant and we talk about the topic of the day and help each other. That's really what it's about is helping each other.
Jane-ellen Porter 15:49
Absolutely. And I know, Jim, you just touched on kind of how you over the years have sought out in the community, right, the BISA community and our partners and how that helped your business, right, bringing in money managers and such. And, John, can you talk a little bit about how you've thought about community in general, and and what effect that had on your career?
John Olerio 16:13
Yeah, again, going back to I think we're referencing the very first time we went to one, which is just such a great memory and it started a process, I think, for all of us. AFor me, very similar to what you're saying, Jim, I looked at the list of participants, and my eyes were just wide open. And I was eager to try to meet as many people as I possibly could. I wanted more than a handshake, I did try to pick as many brains as I could, from a face-to-face perspective. But I'm also kind of nerdy, and I did go to all of the different breakouts. And I did take notes. And then I did follow up with the contact lists that were there. And, you know, really knew there were a lot of people I needed to get to know because it was going to be important for me and for where I wanted to progress with my own career and how to grow Webster. Because for me that's what it was all about. How do I help to make Webster the best that it possibly can be?
John Olerio 17:08
And every year, I've met new people, but yet you continue to see, you know, so many familiar faces that there's just always time, and you stop and sometimes the simplest thing, to walk halfway across the room, at BISA it can take you 45 minutes to do. Because at every step you take there is somebody that you want more than just 'hey, how you doing,' you need to catch up and more than you need to catch up, you need to find out exactly what's going on with them. Because they've been a part of important things that you've discussed together in the past and learn from one another in the past. And you just keep that going. And it just keeps growing. And it just keeps progressing. And then you bring more of your own team. Last year, we had seven or eight participants at BISA from Webster. And I was extremely proud of that. Because I know that all of them are trying to take advantage of the atmosphere there and going there together as a Webster community. And we were proud of that. But then also each one of them being able to expand their community, which is just so important for everyone and anyone to do.
John Olerio 18:15
The last aspect I really want to talk about because I think it leaks to community is it was a big, big year for Webster last year at the convention, I was just tickled pink with honor, and just so happy about that. Webster also did receive the Diversity Award. And we did also have a Rising Star participant as well. And so with kind of the hattrick there, we were really pleased with ourselves, and probably most so for the Diversity Award. And I'm so proud that BISA is putting so much effort and stock in that award and being able to recognize the importance of growing diversity opportunities and expanding who we are as an organization every day. And it's important, it's real, at BISA. And it's real at so many of our institutions, for the banks in general or credit unions in general. But I think so many of us who are part of BISA are truly trying to make it real in the investment division, because it makes all the difference in the world. And it needs to be a bigger part of our future every day. And so that makes me really proud to be a part of BISA, because this is such an important part of BISA today, and and I know it will be more and more going forward.
Jim Nonnengard 19:32
John, that's awesome. Congrats. And, you know what's interesting with that is we're not going to date ourselves here or age ourselves or whatever. But, you know, to the partner community, whether it be product partners, technology people, they need to get to know these people, their future leaders and their future decision makers. And I know some of these, we do succession planning all the time. And we have those people going to BISA every year and taking in knowledge. And they're gonna be doing the decisions at some point down the road. So standing at the booth and hoping somebody comes by, I don't know what the percentages are on that. But working the room and looking at name tags and introducing yourself. Not in an obnoxious way, you probably know a lot of them. But you could ask me or John or whoever the other board members or heads of programs to introduce you to their teams that are there. And really, you know, the community part is really cool, because Jane-ellen with other counterparts that run investment programs.
Jim Nonnengard 20:33
Yeah, it is hanging out. Yeah, it's networking. But I mean, asking questions like, 'What are you going to do with this DOL rule? What are you doing Reg Bi? What about your platform program? You guys read a lot of fixed annuities on your platform, what are you going to do with that?' And it was real interesting and it makes you think, and you really get some connections. And then I've been able to hook up our legal people and compliance people with some folks that were there from other banks, and just kind of talk a few things. And they also go to the regulatory conference and really kibitz as they say.
Jane-ellen Porter 21:03
Yeah, definitely. I mean, as things come up right in the industry which is constantly to have a ceiling of kind of, we're all in this together, right. And we execute differently by working from programs, but to pull some of the great minds together who have been through tough times, not the tough times, right? And get ideas and bounce off of each other is comforting, especially in the hard times.
Jane-ellen Porter 21:27
I remember when COVID started right after we had all come back from the conference, and we were on calls very quickly saying 'okay, how are you guys doing this? How are you deploying technology? What are we doing, you know, with the regulators when it comes to recording and chatting within WebEx etc,' right? I mean, it was so nice to have people who you didn't have to explain things to. We all speak the same language and to get some ideas that perhaps he couldn't think that quickly on your feet on your own. And it was super helpful, at least to me, and I would assume to you guys as well.
John Olerio 22:00
Jane-ellen, I look at our relationship, and it's well over 20 years, and it's just continued to evolve. And every step along the way, you and I are having a great professional rapport and relationship and constant dialogue, we have been direct competitors. I am your number one competitor in the same state, and now what was People's for you it is now M&T and you've gotten bigger, and we've gotten bigger, and you know, we're still in so many states where we are direct competitors. And still, we've always been able to lean on one another. And people might say, 'Well, how do you do that?' Well, we do. In fact, we do it more every day. And it's so funny, you know, all of a sudden, you'd have a merger, I'd have a merger, you'd have something, I'd have. And which meant we all had to be, each one of us, more on top of our game and execute. And when you're executing, you have to be mindful of executing, you know, against your competitors. But that doesn't mean you're not holding this relationship with their competitors. And for me, it's real special. So many others like the two of us in a similar situation.
Jim Nonnengard 23:05
Well the industry is kind of what we talked about, it's kind of like, man down, you know, and then somebody emerges. And then you go through that black hole. You don't know if you're in, you're out, who's doing what, how do you help, who's got jobs, and you've tried to help people in the business that you've networked with and like in your community, then I don't know how Jane-ellen how you'd feel about it. But I bet it helped with you and Richard marsh and the folks at M&T from your connections at BISA to get connected pretty quick there.
Jane-ellen Porter 23:05
Absolutely. Yeah. I mean, I think for those who don't know, I was with People's Securities and People's United Bank for 32 years of my career, and just in the last year, we've merged with M&T. And I mean, this is a really great example of community. In the first I would say two weeks after the merger announcement, before it was approved by the Fed, which took awhile, I probably received at least 20 phone calls from my community at BISA, saying, 'of course, are you okay, how are they going?' But even more so was talking about their relationship with the folks at M&T, and how they felt that it was just going to be such a great culture fit. And that was really comforting as a leader, right. I knew the leadership over the years at M&T, I knew Rich a little bit from being on the board right? Again, community, but to hear this from people who you know, I have known and worked with for many, many years as a leader or going through a merger and then a very large conversion. That was really helpful to help me keep clarity of 'okay, this is a good thing. This is a great program.' We know the same people and those people were calling me saying 'this is great. It's gonna be great.'
Jane-ellen Porter 24:53
So for sure, and then John to your point of our years together in the same footprint, I mean, I only had the utmost respect for you and Tom before he retired and how you run the program, and, you know, we've bounced stuff off each other over the years as well. So it's funny because I'm not sure if every industry is like this, right, that you can be direct competitors, and just, you know, really be close colleagues and friends and have incredible respect for each other. So again, another really special part of BISA in general.
Jane-ellen Porter 25:28
So I'm going to ask you guys both questions. What would you recommend to peers who perhaps are not part of BISA or thinking of joining people who are rising through the ranks? What would your recommendations be to those folks as they embark on their own journeys, right of growing their community throughout the industry? So Jim, I'll start with you.
Jim Nonnengard 25:54
Yeah, first thing I'd say is get involved. And I don't mean sign up for committees. But I mean, register and go and clear it with whoever you need to clear it with. Look at that agenda and give it a try and see if what we're talking about is true for you, too. It will be. And I just think it's one of those deals where maybe I can't remember Jane-ellen, if John wanted to go or he didn't want to go, and he thought he was punishing me to send me to go all the way to California. But it turned out absolutely spectacular. And even when South Trust merged with Wachovia I knew some of the Wachovia people already just from BISA and networking. But you know, take a look at the agenda and give it a try. Attend, participate, ask questions. And I think you'll be well rewarded and make yourself known for sure, because we need future leaders in BISA. Make yourself known to people.
Jane-ellen Porter 26:47
Great, thanks. John?
John Olerio 26:50
I'm going to build on your last phrase there, Jim. And that's make yourself known for sure, just realize just how much you have to offer. But you can't offer it and you can't share yourselves with and everything that you've accomplished and everything that you are with others if you don't dive into the community, and if you don't get to know people, and let them get to know you. So it's pretty simple. But sometimes we don't make the time to be able to get to know people on a different level, on a slightly deeper level, so that you can start asking each other the slightly tougher questions that we all have, and are much easier to face when we can face them together.
Jim Nonnengard 27:30
I would also encourage some of the banks, the bankers or people that worked with some of the banks that are with third party marketers like Cetera, Infinex, Raymond James, LPL to contact your account manager about this conference. They're all going to be there. And they may be able to help and sponsor and go to great lengths and introducing you if you've never been to one of the conferences.
Jane-ellen Porter 27:51
Yeah, very true. So I want to thank you both. I do have to tell you that when they asked me to host these podcasts, I'm so honored to be able to spend this time with the two of you. And of course with Ram and Howard on the other podcast. And really, again, thank you for your guidance and your leadership. Over the years it's been, like I said earlier, really incredible for me and our firm, to be able to share together and our journeys over these years. You know, community is so important across our fields. And I really hope this discussion inspired others in the field to take a step towards creating a community with peers, mentors, mentees and stakeholders within their own communities in the industry as a whole. So thank you guys both for joining us. This was great. And look forward to future podcasts with you as well seeing you at the conference.
Jim Nonnengard 28:46
Have a great weekend.
Jane-ellen Porter 28:48
Thank you, you too.
John Olerio 28:49
Thank you so much. It's been great as always,
Jane-ellen Porter 28:52
Thanks, John. Thanks. So if you enjoyed this podcast, please subscribe, rate and review so you won't miss future uploads. And please share the podcast and join the conversation on social media. Thank you for joining us and have a great day.
Transcribed by https://otter.ai