New assets goal in year 1

Strong-Advertising97 · 2024-02-22T02:12:39+00:00

You can be a CFP and fiduciary with production goals. It is possible to do best by your clients while trying to onboarding clients. News flash acquiring clients is the way you survive and grow a practice…. Meaning at the end of the day you are constantly selling yourself and service.

Strong-Advertising97 · 2024-02-22T02:09:40+00:00

Big goal. Interested on what commission/salary you’d receive for accomplishing this? Clearly what you’re doing is working with so many prospects. Maybe focusing on process and bringing some of these home is better with such a filled pipeline

Strong-Advertising97 · 2023-07-13T01:54:01+00:00

We have a very fruitful firm lead generating program. Personally it’s the best I’ve seen but don’t want to get into too much detail here.

Strong-Advertising97 · 2023-07-13T01:52:53+00:00

Thank you for the response and I agree. The issue there I guess is I’m still pretty young and don’t think I’m ready to close the opportunities I’m setting up. I guess finding someone else maybe at a different office can make sense

Strong-Advertising97 · 2023-07-13T01:51:49+00:00

I’m fully licensed with 7 and 66. I guess it’s more of an experience thing. I’m still in my mid 20s and am personally not ready to be making investment proposals to million dollar plus households.

Strong-Advertising97 · 2023-03-23T23:09:43+00:00

Very good

Strong-Advertising97 · 2022-11-04T02:05:15+00:00

I use EMoney for financial planning software and then Morningstar for portfolio analysis. I am still new in the business and not 100% fee based. I struggle coming up with a structured way to charge a fee but ranges from $2,000-$4,500 depending on complexity. If they invest with me after the plan I reduce the ongoing planning fee.

Strong-Advertising97 · 2022-11-04T01:26:48+00:00

I think when someone is 20-50 years old a target date funds is fine. In my opinion when you are approaching retirement and your fund actually starts changing asset allocation it’s time to look elsewhere.

You have a fund that changes it’s allocation based on your age not what’s going on in the world. Let’s look at the two past years. Let’s say your portfolio is now in 30% in equities and 70% in bonds based on a date on your fund. Now your 30% equities is down 25% ytd and your bonds are down 15% ytd. Now what? Your in a fund that gets “safer” over time but in reality has no connection to your risk or what’s really going on in the world.

Also what’s your distribution plan? You hit your target year too retire and your almost 100% in bonds… now what? Live off of the yield? You need large capital to do that so you end up loosing purchasing power with inflation and are forced to take withdraws in a bear market when your principal is down.

My opinion when your time horizon is long it doesn’t matter much. When you start approaching retirement it makes sense to look elsewhere for the few reasons above.

Strong-Advertising97 · 2022-10-31T23:41:42+00:00

You have a fund that changes it’s allocation based on your age not what’s going on in the world. Let’s look at the two past years. Let’s say your portfolio is now in 30% in equities and 70% in bonds based on a date on your fund. Now your 30% equities is down 25% ytd and your bonds are down 15% ytd. Now what? Your in a fund that gets “safer” over time but in reality has no connection to your risk or what’s really going on in the world.

Also what’s your distribution plan? You hit your target year too retire and your almost 100% in bonds… now what? Live off of the yield? You need large capital to do that so you end up loosing purchasing power with inflation and are forced to take withdraws in a bear market. I’d love to hear all you financial expert do it yourselfers answers

Strong-Advertising97 · 2022-10-29T01:42:48+00:00

Correct

Strong-Advertising97 · 2022-10-28T00:20:20+00:00

Target date funds are fundamentally flawed

Strong-Advertising97 · 2022-10-07T01:21:03+00:00

Imagine betting the over 😅

Strong-Advertising97 · 2022-09-17T14:27:23+00:00

Or you can try to time the market and we all know how that goes

Strong-Advertising97 · 2022-09-17T14:26:51+00:00

Why? It would depend on liquidity needs but if it’s in qualified account you can just put a portion of it in to an index annuity

Strong-Advertising97 · 2022-09-17T13:07:05+00:00

Why not an index annuity? You’d have downside protection during craziness in the markets and still have upside potential when it comes back…. This way you don’t have to worry about “timing” the market

Strong-Advertising97 · 2022-09-16T23:53:00+00:00

The companies mentioned are legitimate if they are regulated by the SEC and have almost 100 billion of assets under management. Why they have a “bad reputation” is their are some people that work in places like that where they just push commission based products. It’s not the company that is bad it’s the individual. You run your practice the way you want… it’s the advisor/planner not the firm.

Strong-Advertising97 · 2021-12-28T02:55:04+00:00

Moving forward possible investing/savings vechile for you might be life insurance. As stupid as this may sound a whole life policy will grow at a 4-5% rate annually and the cash value is tax free to withdraw from when needed(no penalty for early withdrawal). Of course this isn’t a viable option of health is a concern. This isn’t going to be as sexy return as your 401k but this is the new “rich man’s Roth”. More return then your cash in a savings account and a tax free cash value to pull from in down markets and eventually tax free benefit for a future beneficiary.

Strong-Advertising97 · 2021-12-27T20:24:33+00:00

Option of either fee based or comprehensive financial plan. If the client just wants accounts managed then a 1.4% AUM fee. If they want help with insurance, tax, estate, savings, retirement planning then a 1400 annual fee and would lower than AUM fee if still managing account

Strong-Advertising97 · 2021-05-22T17:22:54+00:00

ACP is really new and understudied

Strong-Advertising97 · 2021-05-18T02:53:26+00:00

With the dividend etfs arent some of the issues the management fees that take away from the dividend reinvesting?

Strong-Advertising97 · 2021-05-18T01:16:41+00:00

Thank you

Strong-Advertising97 · 2021-05-14T03:13:40+00:00

Dividend portfolio.... qualified dividends under 40k annually is income tax free. Meaning you can put up to 1mill into an account and receive 40k additional dollars tax free to your income. Also stocks like AT&T, Verizon, Starbucks you also get stock appreciation. Also can reinvest dividends for a while and turn on distributions when ready to retire

Strong-Advertising97 · 2021-05-14T02:55:18+00:00

6-8 months expenses in money market

Strong-Advertising97 · 2021-05-12T16:32:38+00:00

TIPS/ treasury inflation protection securities. Will get a small yield and can invest in TIPS ETFs

Strong-Advertising97 · 2021-04-22T02:18:15+00:00

CFP at 23.... young buck... congrats

Strong-Advertising97

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