Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. The most important financial decision an individual investor can undertake is in selecting the right financial and investment advisor. Sadly, most persons who provide investment and financial advice work in firms where multiple conflicts of interest continue to exist. For these clients we provide both financial planning services and investment advisory services.
Financial planning services for our retirees are broad, and include (but are not limited to) IRA distribution planning, Roth IRA conversion planning, general tax planning, reviews of estate plans, and planning for children’s and grandchildren’s educational needs. Thereafter, during the first year, a series of video or telephone conferences are scheduled to implement the investment plan and to review financial planning issues. For example, a financial planning advice may be provided whether to invest available cash or pay down debt; this may create a conflict because it affects our compensation. In such situations, our fellow citizens place trust and confidence in their personal financial advisor.
Ron A. Rhoades, JD, CFP® serves as Program Director of the Financial Planning Program at Alfred State College. Professor Rhoades teaches the advanced courses in financial planning and investments, as well as courses in retirement planning, insurance, and employee benefits planning. AXA Financial adalah pilihan terbaik bagi Anda yang ingin mengembangkan pandangan profesionalitas dan ingin mempertajam daya saing. It is right and just in such circumstances that broad fiduciary duties be applied to these financial intermediaries.
If American consumers believed that they could trust their financial advisors, demand for the services of financial advisors would soar. This explosion of financial products has hampered the ability of plan sponsors and individual investors to sort through the many thousands of investment products to find those very few which best fit within the retirement plan or individual investor’s portfolios.
It must be recognized that efforts to enhance financial literacy, while always worthwhile and important, will never transform the ordinary American into a wholly knowledgeable consumer of financial products and services, just as we cannot expect the average American to perform brain surgery. Financial advisors also utilize clients’ behavioral biases to their own advantage, if not restricted by appropriate rules of conduct.