June
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Benson Financial Group in 2013. Steve Hill, Justin Gibson, Beth Franklin, Connie Benson, and Pat Benson.
Benson Financial Group: Decade Two
When Pat Benson first founded Benson Financial Group, it was not a “group” quite yet.
When they moved into the Bank of Hannibal location, Pat said the space felt too big. Pat was the only full-time advisor with one assistant in the office and Steve Hill worked as a part-time advisor. Connie, however, saw it in a different light.
“When Jerry Trower gave us the opportunity to move into that location, Connie told me we would outgrow it pretty quickly,” Pat recalled. “I remember thinking, ‘How are we ever going to fill this place up?’ But she was right.”
As Benson Financial Group entered its second decade, the company was no longer simply growing in size. There was a vision, purpose, and culture that would come into focus throughout the next decade.
One future partner was nearby working his way through college.
Juggling two part-time jobs at Hannibal National Bank and County Market, a young Justin Gibson was just finishing his bachelor’s degree in business administration at Hannibal-LaGrange University.
Justin attended the same church as Pat and Connie, but Connie especially took notice of Justin’s heart and excellent service early on in both of his jobs. As she did her banking and shopping, she often went through his line on purpose.
One day, while scanning Connie’s groceries, Justin mustered the courage to ask Connie if Pat might be interested in an intern. As Justin and Pat met several times, God began unfolding the next chapter.
With the growing number of clients, Pat knew it was time to expand. Justin was offered an opportunity to join BFG as both a financial advisor and part-owner. Steve also joined full-time as an advisor and part-owner. Connie also stepped into the position of a full-time administrative assistant.
On Jan. 4, 2010, Justin, Steve, and Connie joined Pat at the Bank of Hannibal location. Suddenly the three offices—along with the front desk—were occupied. Connie’s earlier prediction seemed to be coming true.
As the team expanded, so did the business. What had once been a small operation began growing rapidly as more clients entrusted Benson Financial Group with their financial planning and retirement needs.
“We finally had some breathing room because there were more people helping clients,” Pat said. “But then we quickly realized we were growing faster than we ever imagined.”
Much of BFG’s growth during those years came from referrals and relationships. Clients shared their experiences with others, and word of-mouth recommendations became one of the company’s greatest blessings.
“We truly care for people,” he said. “I think people have had good experiences here, and they’ve walked out our doors and told others.”
With that growth came long hours and the realization that the business would need to continue building a strong team to maintain the level of service clients deserved.
Team members such as Beth Franklin in 2011—who began offering insurance services—and Amanda Hall in 2012 were also added. Paul Littleton joined the group in 2016 as a client service representative.
Another turning point for BFG was when Pat and Jeriod Turner joined the same weekly men’s Bible study. Jeriod, who had been in the banking industry for nine years, was already acquainted with Pat and Connie through various Bible studies over the years.
Pat and Jeriod often lingered to talk after the weekly studies, and these talks sparked a series of discussions with Pat and Connie. In 2016, they offered Jeriod a full-time position as an advisor, and soon after he moved into part-ownership.
Pat and Connie had already prepared for this team expansion when they’d purchased a larger location.
A few years earlier, the Bank of Hannibal location became too small. One evening Connie came home from a gathering with a realtor brochure she grabbed at a restaurant, advertising a building for sale. They jumped into the car around 9 p.m. and drove to 161 Progress Road.
“When we got there and drove around the building, I just knew it,” he said. “It was where Benson Financial Group was meant to be.”
Pat and Connie purchased the building and occupied one side while another business leased the other side. But Connie’s words continued to ring true, as they quickly outgrew that space as well and moved into the entire building.
“We moved from about 1,600 square feet to 3,200 square feet,” Pat said. “And before we could even finish taking over the rest of the building, we were already busting at the seams.”
Looking back, Pat sees God’s hand guiding the process all along. Before finding the current office, they were preparing to purchase land north of Hannibal to build a 3,500 square-foot office. Had they followed through, they likely would have already outgrown it.
“This building was absolutely an answer to prayer,” Pat said. “It was like it was placed in our hands by God.”
The firm is now adding 5,000 square feet to their existing office and remains rooted in serving clients with excellence and heart. As growth continues, Pat believes protecting the Christ-centered culture of Benson Financial Group remains one of the organization’s most important responsibilities.
“Culture can drift,” he said. “You can wake up one day and realize your culture is completely different than it used to be. So, you have to give attention to it every day.”
That intentionality has helped create an atmosphere that many team members describe as more than simply coworkers sharing office space.
“We’re all on one team together,” Pat said. “We’re like a big family. If one team member is hurting, we’re all hurting. If one team member is celebrating, we’re all celebrating."
/Trump Accounts: What You Need to Know
As part of the recently enacted “One Big, Beautiful Bill Act” (OBBBA), Congress introduced a new type of child-focused savings vehicle called a “Trump Account” designed to help families invest in their children’s financial futures.
Trump accounts are also referred to as a 530A Accounts, indicating the section number of OBBBA it is in.
The tax-advantaged investment accounts are for U.S. citizens under the age of 18. Guardians, parents, adult-siblings, or grandparents (in that order of eligibility) are able to open a Trump Account for a child; each child can only have one open account at any given time.
The program will launch in July with online account tracking and app access. Platforms for initial account openings will include BNY & RobinHood. They should send out information as early as May of 2026.
To be eligible for a Trump Account, the child must:
- Be a U.S. citizen
- Have a Social Security number
- Under the age of 18
- A child for whom no prior Trump Account pilot program election has been made and processed
What is the Trump Account Pilot Program?
The Treasury Department will make a one-time contribution of $1,000 to children’s Trump accounts who born between Jan. 1, 2025, and Dec. 31, 2028.
The proposed rules explain that the government’s $1,000 contribution would be processed through the federal tax system and be deposited directly into the Trump Account. The direct deposit will ensure taxes are not required to come out of it and the child gets the full $1,000 for seed money to start the account.
What about children born before 2025?
Children born before Jan. 1, 2025, and under 18 are still eligible for an account but won’t qualify for the $1,000 incentive.
Individuals (even the account owner) can still contribute up to $5,000 pre-tax for eligible individuals. Some families may also qualify for additional contributions through charitable programs funded by donors, such as the Dell and Dalio families, depending on age, income, and location.
Contributions from governments and charities do not count towards annual funding limits.
What are the contribution limits if I want to fund an account?
The maximum annual contribution will be $5,000 and indexed to inflation beginning in 2028. Contributions from individuals will generally be made with after-tax dollars. Currently, gifts directly to Trump Accounts for another person require disclosure by April 15 the following year via Form 709 and do not qualify for the annual exclusion for gifting ($19,000 in 2026). Please talk with your tax professional if you have any questions and your advisor for further discussion.
What are the investment requirements?
Funds must be invested in U.S. equity index funds that track the stock market and managers cannot charge more than 0.10% in annual fees.
Can my employer contribute to my child’s Trump account as part of my benefits package?
Some employers can contribute to the accounts of children of employees, but are capped at $2,500 per employee, pre-tax. The Treasury Department is working with the major payroll companies on how to execute the program for employers who want to offer it. These contributions do count towards the annual $5,000 maximum funding limit per account.
What are the distribution rules?
Trump Accounts do not permit any distributions until the year the beneficiary turns 18, at which point they can be transferred to an IRA or left in a Trump Account. These accounts can only be used for specific purposes, beginning in the year the child turns 18 and until retirement age of 59.5 or penalties, in addition to taxes, may apply. Exceptions may include paying tuition, starting a business, paying for unreimbursed medical expenses, or making a down payment on a home. Even these exceptions may have limits in the amount that qualify. We encourage discussion with tax professionals before taking any early distributions.
Generally, when distributions occur, pre-tax funds (essentially all funds other than funding contributions made from individuals which were considered after-tax) will be taxed as ordinary income. After-tax funds carry that basis with them and will not be taxed again. Distributions may be pro-rated for tax purposes and include partially taxable amounts. It will be important to track funding sources and amounts over time for tax calculation purposes later in life.
What other exceptions exist for moving funds?
The exceptions to the no-distribution rule include:
- Qualified Rollover Contributions: The entire balance can be transferred at any time to another Trump Account for the same beneficiary, at which time the old account will need to be closed.
- ABLE Account Rollovers: If the child is eligible for an ABLE account—a tax-advantaged savings account designed for individuals with disabilities—the full balance of a Trump Account may be rolled over in the calendar year the child turns 17. The rollover does not count toward the annual contribution limit for ABLE accounts.
When can contributions be made and what can parents do now?
Contributions cannot be made before July 2026, but parents of eligible children can sign up early by filing IRS Form 4547. Many tax filers made an election during the filing process in Spring of 2026 to have this form submitted with their return. No early contributions will be accepted. Parents who submitted Form 4547 should receive information in May 2026 about how to complete the account setup process.
/Building Update
Benson Financial Group’s 5,000-square-foot expansion at the Hannibal location has gone from a vision to a reality.
Pat Benson, founder of Benson Financial Group, said they are pleased with how the building is coming along.
“We have been on schedule and with the drywall going up, we are seeing it just come to life,” Pat said. “We are planning for our move-in day—it’s getting exciting.”
The one-story structure now has two stories with a completed roof connecting the extension to the existing structure. New bricks and stone are now going up on the exterior.
“Walking through the new section now feels much less like a construction site and more like an office,” he said.
Pat also said BFG is blessed by the workers bringing everything to life—Bleigh Construction, the general contractors, and Klingner & Associates.
“They have all been excellent to work with,” he said.
When Pat thinks of this project—which is especially significant while celebrating the firm’s 30-year milestone—he feels gratitude. From his first home office to various spaces over the years, BFG continues to grow, and he knows it would not be possible without the clients who have entrusted the team over the years.
Pat, along with the whole BFG team, is also grateful for clients that have endured the construction process. He looks forward to welcoming clients into the new space.
“Our clients have been patient and flexible throughout the project, and we appreciate them so much,” he commented. “We are now seeing light at the end of the tunnel.”
/BFG 30-Year Celebration
On April 17, Benson Financial Group celebrated 30 years of service with more than 500 clients gathered at the Ambiance in Quincy.
Pat and Connie Benson are thankful for an evening they will never forget—from the speakers to the shared meals and conversations, it was a night filled with friends.
“When I walked in and saw the place full of people—reality hit,” Pat said. “The room went from empty chairs to a representation of all of those who have entrusted us all these years.”
To Pat and Connie, who once prayed God would lead clients to Pat, each connection is deeply appreciated.
The speakers of the night—some of Pat’s first clients—expressed mutual appreciation both for the financial freedom they now enjoy in their retirement and for the friendships with Pat, Connie and the BFG team members that have been built over the years.
The night reflected how Pat has felt this entire year, as the 30-year anniversary of BFG has been commemorated in various ways.
“I’ve just been living in a state of gratitude over these last several months,” Pat said. “Just thinking about that first day starting this business—leading all the way up to that night—it’s overwhelming what this has turned into.”
For the entire team at Benson Financial Group, the 30-year celebration marked how far the firm has come, and served as a tribute to those clients who have made the journey possible—and continue to.
Pat and Connie are also grateful for the planning committee and everyone behind the scenes who put so much heart into the evening.
“Even if I live 100 years—that will always be one of the most special days of my life,” Pat said. “The way to sum it up is just truly blessed.”
Watch the video of BFG’s 30-year journey
/Aaron Hill earns Kingdom Advisor Certification
Aaron Hill, CFP®, CKA®
Aaron Hill, one of the Financial Advisors on our Benson Financial Group team, recently became a Certified Kingdom Advisor® professional. This is a specialized training for financial professionals aimed at integrating biblical wisdom together with financial planning and investing.
A Certified Kingdom Advisor® (CKA®) helps clients manage their money in ways that reflect scripture and their Christian faith, and it is a high-level, industry-recognized credential for Christian financial professionals.
Over the last year, Aaron studied through teaching and coursework used to develop his ability to better understand God’s Word and then teach how it applies in the lives of clients.
“I am interested in going deeper into what scripture says about our finances,” he said. “The Bible has a lot to say about how we steward the resources God entrusts to us.”
Benson Financial Group has been part of Kingdom Advisors for many years. Many advisors and team members meet monthly as part of a study group with other area advisors, each year BFG sends several representatives to attend the national Kingdom Advisor conference.
“We have a group of people who care deeply for clients, and that goes beyond saving and investing money,” Aaron said. “As followers of Jesus we want to see everyone we work with live fulfilled, abundant lives and experience financial freedom."
/Turn the Page with Connie
By Connie Benson
There’s something special about summer reading—the slower evenings, the extra daylight, and finding a story you can’t wait to return to. This month, Connie shares two books that stayed with her long after the final page.
Theo of Golden by Allen Levi
If you are looking for a moving and thought-inspiring book this summer, Theo of Golden is
the one for you.
“A story of giving and receiving, of seeing and being seen, Theo of Golden is an unforgettable novel about the power of generosity, the importance of connection, and the quiet miracles that happen when we choose kindness and wonder.”
I loved this novel—it was hard to put down. Be prepared to laugh, cry, and be overwhelmed. It leaves a lasting impression long after you have closed the book.
I'd Rather Be Reading by Anne Bogel
All book lovers should make room for this book on their shelf. It is a quick read but one to savor slowly.
As I read the book, I felt like she was describing me—the book worm that I am. Especially when she said, when “you pack twelve books for a five-day vacation because you can’t decide what to read next.” That is so me! Maybe this describes you too. As she describes all the delights and dilemmas in her book, and when you turn the last page, you feel like she has become a friend.
“Bogel invites book lovers into a community of like-minded people to discover new ways to approach literature, learn fascinating new things about books and publishing, and reflect on the role reading plays in their lives.
“For so many people, reading isn’t just a hobby or a way to pass the time—it’s a lifestyle. Our books shape us, define, us, enchant us, and even sometimes infuriate us. They are a part of who we are as people, and we can’t imagine life without them.”
As you read Anne’s book, she will lead you to remember the book that first hooked you, how you became a book lover, and how the books you read have shaped your life
Benson Financial Named Business of the Year
Benson Financial Group was honored to be recognized by the United Way of the Mark Twain Area as the business of the year at their annual meeting. BFG is honored to serve alongside an organization that does so much to strengthen our community!
Congratulations to all graduates!
A special congratulations to our graduate team members! Elaina Foreman graduates from HLGU with a bachelor's degree in business administration, and Lillie Harvey graduated from Ozark Christian College with a bachelor's degree in biblical communication.
Elaina Foreman
Lillie Harvey
Quarterly Celebrations at Benson Financial Group
We are so grateful for what each staff member brings to the team!
Work Anniversaries:
Anneliese Molina - 2 years (June 12, 2024)
Team Birthdays
June: Connie Benson, Jen Kovar
/Upcoming Holidays & Closing
