It is not uncommon to use products like annuities or insurance policies to solve specific issues. However, it’s also not uncommon for clients to be sold these products without any real solution in mind.
As an independent, fee-based firm, we do not have monthly sales goals to meet. This means we won’t sell you a high-commission product you don’t need. Instead, we prefer to charge for our advice, focusing on what’s best for you.
After more than two decades as a high school teacher, Ms. Anderson was a few years away from retirement with a full pension from the California State Retirement System (STRS). Like many teachers, she relied on the state pension as her primary savings source.
To cover potential retirement shortfalls from STRS or reduce income taxes, teachers are encouraged to participate in supplemental 403(b) retirement plans. The problem lies in how many 403(b) plans are supported by each district and how they are sold to the teachers.
When we first met Ms. Anderson for a complimentary review of her retirement plans, we found she had eight separate 403(b) accounts. Six of these accounts were sold to her by the same representative over a five-year period, showing that the representative was more focused on sales goals and high-commission products than on helping Ms. Anderson.
Here are some of the ways we guide clients in making critical decisions and taking control of your finances:
Complex financial transactions involve intricate processes that require careful planning and expertise to navigate effectively. These transactions often encompass multiple financial instruments, regulations, and strategic decisions to achieve the desired outcome.
If there is a will, there is a way underscores the power of determined planning and strategic decision-making in overcoming financial and legal challenges, ensuring goals are achieve.
