Broker Check

Investment Management

Retirement Planning is not What it Used to be.

Many no longer have jobs with built-in pensions plans.

Most of us have to do it ourselves with a largely self-guided 401(k) or similar retirement plan. Add in the need to pay a mortgage, insurance, maintain an emergency fund and maybe set aside some money for the children’s education and possibly provide financial help for an aging relative and things can get stressful, especially when you consider the questionable status of the Social Security system. While one day it’s seemingly diapers and formula, the next its college tuition, what to do with mom and dad and ultimately, how will I ever be able to afford to retire?

Meeting long-term financial goals means monitoring your investment progress to be sure it stays true to its objective. This means regularly reviewing your budget, savings, income and risk tolerance, including adding to your savings/investments and making adjustments as needs and circumstances change.

Today there is a wide variety of financial services and products, but not all financial professionals have access to them or the skill and experience to properly utilize them. Others believe they are “reserved only for the wealthy.”

It is possible however that you can experience a new level of personal financial management. Independent financial advisors are not bound by any sort of “preferred products list” or “house products.” Nor do they need to meet sales quotas.

Did you know that independent financial advisers typically use products and services from numerous providers, giving clients access to an in-depth variety of highly efficient financial services and money managers? Independent financial advisors practice an “independent” approach that is often supported by an in-depth investment in numerous, objective, third-party research services with one goal in mind -- to put the most efficient products and services available to work for you.

Another question to ask: Is your present financial advisor a “fiduciary”? A fiduciary is required by law to act in your best interest – no exceptions. Stockbrokers are not. Is your financial professional a fiduciary or a broker? A broker does not have a fiduciary responsibility. The law only requires that brokers recommend investments that are “suitable” for you but can consider the commission or bonus they may earn. In other words, while an investment may be suitable, it may not be the “best choice” for you. A fiduciary always acts in your best interest.

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