James Edward Lokey

The story of how Jim Lokey became the founder of a financial industry started with a college kid in west Texas who thought he could help cotton farmers get their bales to market faster using computers.

Born in Lubbock, Texas, Jim was the son of Gerald and Lillian Lokey, owners of Lokey Cleaners, a successful dry cleaning business his father established after leaving farming during difficult years. As the fourth of five children, Jim grew up with siblings Geraldine, Ken, Larry, and Virginia, in a bustling household where he developed his independent spirit.

In his youth, Jim was drawn to both music and water. He became an accomplished drummer, playing in a high school band called the Impacts that performed at local venues, weddings, and nightclubs. Summers found him working as a lifeguard at Clapp Swimming Pool, where he also competed on the swim team, traveling throughout West Texas and New Mexico for tournaments.

After graduating from Monterey High School, Jim attended the University of Texas at Austin before transferring to Texas Tech University to study industrial engineering. It was at Texas Tech where his career path began to take shape. While working at the university's computer center, he developed an interest in programming, even teaching Fortran to adults in night courses. For his senior project, Jim developed a program to automate information systems for cotton gins, creating efficiencies in how cotton moved from field to warehouse.

Recognizing an opportunity, Jim secured the rights to this software and wrote to his brother Ken about starting a business. Together, they founded Matrix, raising $300,000 from investors when Jim was just 22 years old - a venture made all the more remarkable as he balanced entrepreneurship with finishing his college degree and starting a family with his wife Marian, whom he had known since seventh grade.

After selling Matrix, Jim's career took him to Atlanta, where he worked as a successful salesperson for Insurance Systems of America (ISA), regularly earning recognition and awards for his sales performance. It was after returning to Texas that Jim would make his most significant mark on the business world.

In 1992, Jim noticed an advertisement in the Dallas Business Journal offering annuity payments for sale. This chance encounter sparked the idea for Settlement Capital, a company that would pioneer the structured settlement purchasing industry. Despite initial resistance from the insurance industry, Jim persisted, even joining the National Structured Settlement Trade Association (NSSTA) to build relationships within the industry. What began as a single transaction grew into a thriving business that transformed how beneficiaries of structured settlements could access their funds.

Jim's business acumen was particularly evident in his timing - he successfully sold Settlement Capital just before the 2008 financial crisis, displaying the market intuition that had guided his career. The company he built continued to operate for another decade after his departure.

Throughout his life, Jim radiated kindness and generosity, maintaining close relationships with family and friends. After retiring, he enjoyed spending time with his children and their spouses and his grandchildren. An avid fly fisherman, Jim continued to pursue this passion throughout his life, appreciating the peace and connection with nature it brought him.

Jim also found great joy in the simple pleasures of hospitality. He and his wife Marian were the consummate hosts who loved nothing more than cooking for family and friends gathered in their home. With a natural talent for making guests feel welcome and valued, they created countless memorable evenings filled with delicious meals, lively conversation, and generous pours.

Jim's legacy lives on, not just in the industry he helped create, but in the values he embodied: entrepreneurial vision, persistence in the face of challenges, adaptability to changing circumstances, and an unwavering commitment to family. He is survived by his wife Marian, children Scott (Jenna) Lokey and Lizzy (Dudley) Morton, grandchildren Max, Charlotte, Jay, Walker, and Xander, siblings Ken and Virginia, sisters-in-law, and several nieces and nephews.

In lieu of flowers, the family requests donations to World Central Kitchen, Ducks Unlimited, or the Brennan Center for Justice.