A hang gliding advisor lives life the way he tells clients to: follow your dream.
Some people are meant to be close to the earth, and
others are meant to be in the air, even if it is only for an hour or so
at a time. Robert V. Bolen, who dolds both the CFP and CFA
designations, a co-founder of Bolen Dodson & Associates in
Nashville, Tenn., with more than 15 years in the investment field, is
one who wants to view the world from the air.
In between advising clients about their finances and
planning their life goals, Bolen swoops around the skies near his home
in Franklin, Tenn., piloting a hang glider. One of his best friends,
Edmund Ryan, who accompanied him on his first serious hang gliding
adventure six years ago, likes to remain closer to the ground.
"Ed was coming out to visit me from his home in the
Bay area of California and I was looking for something fun for us to
do. There is a hang gliding school at Lookout Mountain east of us near
Chattanooga where you can take fun rides, and I thought it would be
something interesting to do," Bolen remembers. "They tow you up behind
an ultralight plane to about 3,000 feet and let you go with an
instructor. The instructor lets you fly the hang glider for a little
bit and you are up for about 15 minutes."
The pair ran into the instructor a little while
later while they were having lunch, and Bolen was easily convinced to
start taking lessons seriously. "I have always been fascinated by
flying. When I was 22 I took flying lessons and got ten hours towards
my solo pilot's license, but it turned out that was not what I
fantasized about in flying," he explains. He also had done a little
hang gliding, jumping off a "bunny hill" several times when he was
young, and at first did not get much out of it. Then, one time, he flew
for about 30 feet and got an inkling of what it might be like.
"I thought then, if I ever get a chance to try
again, I will do it," he says. And that opportunity knocked when he and
Ryan were searching for something to do.
The launch pad at Lookout Mountain is 1,300 feet
above the landing site. A good hang gliding pilot jumping from the
cliff can catch air currents and go much higher, or the hang glider can
be towed by an ultralight to a higher altitude. The hang glider catches
air thermals and wind currents coming up the side of the mountain to
glide and soar and attain even higher altitudes, sometimes as high as
8,000 feet. The length of time a pilot can remain aloft depends on the
pilot's skill and the air currents.
"If you see someone hang gliding and being pulled
behind a boat at the beach, they are just being towed, they are not
flying the hang glider," Bolen says. A free-flying hang glider, on the
other hand, is steering and controlling the device and needs to know
the topography of the jump site and mountains and how the air currents
and wind patterns behave in that area. Bolen adds he would like to try
hang gliding in Colorado or some other "big air" place, but will need
to take lessons to learn how to maneuver the hang glider in different
areas. Depending on the area, a hang glider can return to the launch
site or end up at a lower altitude, like at Lookout Mountain, and be
brought back to the launch site.
Ryan, on the other hand, would like to stay closer
to the ground. Even his occupation, commercial real estate financing in
Sacramento, Calif., reflects that choice. "You notice it is on the
ground. I snow ski, water ski and run; all things close to the earth,"
Ryan says. Although he enjoyed some of his hang gliding experience with
Bolen, after getting over his initial terror, Ryan says it is something
that is definitely outside his comfort zone.
But the pair has had other adventures together. Ryan
took Bolen on his first ski trip two years ago, when Bolen was 49, well
beyond the age when most people learn to ski, and by the second day the
financial planner was negotiating moderately steep hills. The two have
known each other since college and their days of working as bartenders
at a little rock and roll club outside San Francisco. Ryan also has
been a client of Bolen Asset Management since his friend started the
firm.
"We go on a 'guy's trip' every year. We have been to
Costa Rica, and hiking the Grand Canyon. Maybe we'll try river rafting
next," Ryan speculates. "Bob's willingness to try these adventures is
part of who he is. It is probably the same thing that prompted him to
start his own business. It is a determination to do what he wants and
to succeed at whatever he tries. He looks for what is fun in life and
tells other people to do the same. For his clients, he is able to take
a global view and bring it down to the individual."
Bolen says he often invites clients and friends to
join him hang gliding, but so far no one has taken him up on it.
"I use that experience as a story to relate to
clients. I tell them they need to go for whatever they want in life. I
have a picture of myself when I am old, sitting in a nursing home, and
all I have left are memories. I like to think my life list will be
complete. Hang gliding is something I always wanted to do. You feel so
free up there, and at one with nature," he says.
Even his Web site notes, "You have only one life to live. Make the most of it."
"One client does not attribute what he did to my
hang gliding but he says he did it because of our talks. He is middle
aged and played guitar. He had always wanted to be in a garage band, so
he started a band and now they play at weddings and other events. He is
pursuing his dream. My wife was an oncology nurse and she said, at the
end, people seldom regretted something they did, but they often
regretted things they had not done."
Bolen started his career in corporate finance at
Prudential Insurance Company in New York City in 1986, after graduating
from Indiana University with an M.B.A. in finance and management. He
then worked with Equitable Securities in Nashville, near where he grew
up, before becoming a securities analyst at J.C. Bradford & Co. in
Nashville.
A stint at a privately held company as chief
financial officer and some time at Merrill Lynch & Co. preceded his
opening his own firm, Bolen Asset Management, in Franklin. His firm and
Lori Dodson & Associates merged in August 2006, and the new firm
now has three financial planners and $50 million in assets under
management.
In addition to pursuing his hobbies, Bolen is on the
executive committee of Franklin Tomorrow, a community outreach
organization; is on the finance committee of the Harpeth River
Watershed Association; is a board member of 21 Drug Court, an
alternative solution for chronic drug offenders; and is a member of the
Christian Executive Officer Fellowship. He also is a board member and
president of the Middle Tennessee Chapter of the Financial Planning
Association and a member of the Nashville Analyst Society and the CFA
Institute.
Bolen says he has no desire to try another aerial sport, sky diving.
"The hang gliding instructors say: Would you rather
jump out of a plane and be hurtling toward the ground at 120 miles per
hour, or whatever the speed is, and have to construct your landing gear
on the way down, or would you like to have it already assembled? I'd
like to have it already assembled," Bolen says.
That does not mean he hasn't had a few close calls.
One time a "rotor" wind, which pushes back down after curving up the
side of a cliff or mountain, caught his hang glider and corkscrewed him
into a field, scratching him up and bruising his ego a bit. A couple of
years ago, he bought an ultralight that uses the hang glider as its
wings. The pilot can turn off the engine in the air and let it glide,
then restart the engine.
"I had landed successfully several times without the
engine, but one day it would not restart and the wind was blowing me
back and there were some power lines in the way. I turned and there
were more power lines and a barn in front of me. I hit a tree and tore
up the ultralight and the hang glider. My wife and friends did not hear
me coming until all of a sudden they heard a swoosh and I was coming in
for a crash landing."
Now his wife will not even watch him hang glide, and
Bolen has put the activity on hold for a bit because he cannot get life
insurance to cover a hang gliding incident.
"My goal now is to become financially secure enough
that I can hang glide and, if I die, I can leave my wife and children
secure," Bolen says. He and his wife, Pam, have a 12-year-old son,
Zachary, and a 14-year-old daughter, Marissa. Bolen also has a
32-year-old son, Jason, who has gone hang gliding with his father, but
is not hooked on the sport.
"I've done it and I can put it away, at least
temporarily now," says Bolen, "but I tell my clients they have to
pursue their dreams. Those dreams may not be the same as mine. It may
be family or a trip or an activity, but we talk about what they really
want to do. My mission is to help people live inspired lives, free from
money worries."