Financial Planning for Farmers Supports Future of Agriculture
| Posted on
At the core of every successful farm is more than just hard work; it’s a solid financial plan for framers tailored to agriculture’s unique challenges. COUNTRY Financial® is committed to helping farm clients protect and grow their operations, which is why its representatives are equipped with deep industry knowledge.
To meet this need, COUNTRY Trust Bank® partnered with Craig Lemoine, Ph.D., CFP, MRFC, director of the Financial Planning Program at the University of Illinois and board member of COUNTRY Trust Bank, to certify financial advisers and portfolio managers with the Agricultural Focus Financial Planning (AFFP) designation.
See more: From Blossom to Bushel: Midwest Apple Improvement Association Creates Tasty Apple Varieties
Understanding Farmers’ Needs
Financial planning for farmers is unlike traditional approaches.
“The farm is not just an income source but also the family’s largest asset and legacy,” Lemoine says.
Farmers face volatility from unpredictable weather, fluctuating markets and shifting policies, all while managing specialized tax laws and irregular cash flow. Retirement is rarely a clean break. It’s often a gradual transition requiring careful planning and trust as the next generation steps in.
See more: The Rescuers: Midwest Food Bank Turns Food Waste Into Feeding Opportunities
The Value of Specialized Advisers
Andy Herman, a financial adviser with COUNTRY Trust Bank in Bloomington, understands the importance of industry-specific expertise. Holding both the Farm Certified Representative and AFFP designations, Herman earned them through rigorous education and hands-on experience.
“These credentials help us provide the deeper knowledge and customized solutions farmers deserve,” he says. “We’re helping them protect their legacy and plan for the future.”
Tools for a New Era
Developed by the University of Illinois’ College of Agricultural, Consumer and Environmental Sciences, the AFFP designation addresses the evolving needs of farmers, ranchers and rural families. It equips financial professionals with advanced knowledge in land ownership, farm family dynamics, taxes, income strategies and succession planning.
“Education isn’t just theory,” Herman says. “It’s built from real-life scenarios. I use this knowledge to help clients manage financial stress, prepare for generational transitions and build long-term security. It’s about being more than just an adviser. It’s about being a partner who truly understands their world.”
See more: COUNTRY Financial and Illinois Farm Bureau Celebrate a Century
Top Issues for Farmers
Lemoine and Herman highlight several pressing financial issues: income variability, rising costs and risk management. COUNTRY Trust Bank financial advisers help clients build cash reserves, plan for inflation and manage debt and market risks.
Retirement planning is especially complex, as many farmers reinvest heavily in their operations. Advisers also help clients navigate land and equipment financing, weather-related volatility and collaborate with certified public accountants and attorneys for a holistic approach.
Where to Find Help
Every farm is different. COUNTRY Trust Bank financial advisers, including farm certified reps like Herman, have access to a several specialists on the investment services team at COUNTRY who hold the AFFP designation. They can help you build a plan to reach your goals and protect your legacy.
To learn more or find a farm certified rep near you, visit countryfinancial.com/farm.
See more: Learn How COUNTRY Financial and Its Partners Support Agriculture
About the Author: Katie Lorsbach serves as manager, advanced markets at COUNTRY Trust Bank and leads a team focused on tailored solutions in retirement, estate, farm and business planning.
