Growing up on her family’s fifth-generation farm in Benton County, Indiana, Kendra Applegate always expected agriculture would remain part of her life, but not necessarily her career. After earning a business administration and management degree from Purdue University, she spent five years with General Motors as a production and supply chain supervisor before her priorities began to shift once she had her first child.
As someone who values growing up in a close-knit rural community, Kendra and her husband wanted to raise their family in a similar way, so they chose to return to her hometown, where they’d be surrounded by strong local connections and support systems.
While she initially worked as a production manager for a small family-owned manufacturing company, she eventually transitioned into financial advising with Prudential Financial in Lafayette, Indiana, where she found an opportunity to serve a need she saw firsthand in rural communities. Many local farmers and families were driving one or even two hours to meet with financial advisors — especially advisors who understood agriculture and farm planning. Seeing that gap helped her recognize where she could provide value by bringing financial guidance closer to the people and communities she knew best.
Kendra sat down with Geswein Farm & Land to talk about financial planning concerns, unique strengths women bring to the area, and how to navigate succession planning and generational transitions.
Geswein Farm & Land (GFL): What inspired you to pursue a career as a financial advisor in the agriculture industry?
Kendra Applegate (KA): I was drawn to advising because I love working with people and I also love numbers and reviewing analytics and trying to come up with the best strategy. So, I felt like I could truly make an impact in my community and fulfill those passions of faith, family, finance, community. All of those really came together in this career, and I’ve always been passionate about the ag industry since I grew up on a farm in a farm family, fifth generation.
GFL: What does your day-to-day look like when you’re working with farm families?
KA: Every day is different. Sometimes I’m meeting with clients in the office. Other times I’m doing research, continuing to educate myself on the new rules and regulations and new investment products out there. Other days, I’m going to a family farm to talk through the strategy, see how their year went to decide if we need to adjust their strategy. We’re constantly making sure their plan is proactive and make adjustments accordingly.
GFL: What are you seeing as some of the biggest financial concerns for farmers today?
KA: I think the biggest thing is trying to make sure that their plan is supporting their goals and that they’re being the most efficient with their money in ways of tax strategy, managing liabilities, and also ensuring that they are growing for their future goals and protecting their family.
GFL: What unique strengths do women bring to a farm business?
KA: They are able to tap into the emotions, but also take a step back and look at things all together. I think women are rock stars, in my opinion. We’re able to multitask and also look at how things impact our families and bring a realistic side to the business planning. They also are dreamers, right? Focusing on where they want it to be, but they can step back and say, okay, what do we truly need to do? What can we do in the realms of our family and make sure that we have the balance between family and work life, which is very hard in a farm family.
GFL: How do you help farm families navigate succession planning and generational transitions?
KA: First off, we help them by just starting that conversation. Bringing people to the table, saying we need to be honest and vulnerable here. Tell us your goals, your visions for the future. We start out with the owners and then, from there, possibly bring in the children to ask them about their passions and how they see them aligning with the farm. Do they want to pursue the farm or are they passionate about something else and maybe looking to take this gift of an inheritance to pursue those passions. How does it all come together?
GFL: What advice would you give women who want to become more involved in the financial side of the family operation, perhaps, after working off-the-farm and now returning to the farm?
KA: Recognizing A, I was once elsewhere and I’m still passionate about the farm and I am coming back, but taking the time to listen to the experience of those who have been there for a long period of time while also being confident enough to say I’ve done my research, I’m experienced as well and here are my thoughts and backing them up with the facts. Appreciating the experience that those had while you were gone, but being confident in the new experience that you bring to the table.
GFL: What keeps you passionate about helping farm families succeed?
KA: I stay passionate about it because I think about my own family, I think about my kids, nieces and nephews, grandkids, my clients and their families, and how they may have the ability and opportunity to grow up on a farm just like I did, and have that hard work ethic and those values in a supportive community. That’s what keeps me going. It brings me so much joy to think about how we’re passing that legacy down and creating these opportunities.
GFL: Have you had any mentors or role models that have helped you along the way?
KA: I like to say the community raised me in everything I did. As I made this career change, one person who has helped would definitely be my brother who also made the switch from the corporate life, coming back to the family farm, starting his own seed business just like I made the switch from corporate life to financial advising. He’s been a great leader and motivator. We’re constantly sharing information back and forth. My parents are also constantly helping me watch my kids so I can have late meetings or sharing ideas for new contacts and connections. Beyond that, my teachers in school; each of them impacted my life. My coaches, leaders in 4-H and FFA, but also community members like Johnny Klemme have shared marketing advice to me as well. Just everyone in a small community is so willing to share their experience and their advice and it’s wonderful.
GFL: What message would you share with the next generation of women in ag?
KA: Be hungry. Don’t let nos put you down. Stay motivated and passionate. Know what your goals are constantly. Remind yourself of that end goal and why you’re there. Make sure that you’re passionate about what you’re doing. Constantly be evaluating that. Always be looking for new paths, new doors to open for you.
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