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Recent Posts:

November 6, 2008: New York investment advisors and financial planners ponder their future.

With the recent downturn in the markets and massive layoffs on Wall Street, many financial advisors for New York firms are wondering what the future holds. The ironic issue is that Americans need financial advice right now more than ever.

Although the near term may be disruptive, the long term outlook for the financial advice profession looks bright. The near term issues include tarnished reputations of Wall Street firms and volatile markets which have hit many client's portfolios. However, the volatile markets reinforce the need for financial advice. Since the first Baby Boomers are just beginning to retire, they are realizing they can't figure out their financial plan on their own. Many of these individuals have failed at do-it-yourself investing and planning and are now looking for a professional investment advisor. Even among individuals already working with an advisor, there isn't a lot of trust, so many are at least looking to find a financial advisor to offer a second opinion on their current situation. Either way, for financial advisors with a strong, focused business, it provides a good opportunity to meet with people who need their help.

May 10, 2008: Volatility hits investment advisors and financial planners in the New York area.

Although the recent stock market volatility never even entered a "bear market" phase, the mortgage mess has caused many Wall Street firms to downsize, even among the largest wealth management firms. Some financial advisors and wealth managers have been caught in the layoffs. Anecdotal evidence suggests that many of these investment advisors will move to independent investment advisory and independent financial planning firms. For some stockbrokers and investment representatives, they are moving up the food chain to higher value wealth management. For New York financial representatives, they are simply tired of working for a major brokerage firm and want to become an independent investment advisor or financial planner.

Likewise, clients often make changes during volatile times. Studies show that clients are more likely to move during market volatility and are more likely to move to an independent advisory firm. This makes it a great time for the best New York independent investment advisors and financial planners who often gain clients during down markets. The financial advisors who benefit the most are the ones with a targeted clients base and a clear explanation of their benefit to clients. Individuals looking for unique investment advisors can Search for New York Investment Advisors and Financial Planners here.

January 22, 2008: Retirement Savings and Income in New York

We are seeing the beginning of a large shift in financial planning in New York. The past 10 years have been a period of major ACCUMULATION of investment assets by baby boomers in New York, while the next 20-30 years will see a DE-CUMULATION of investment assets. In other words, New York baby boomers have been saving up for retirement. Once they retire, they will need to start shifting their nest eggs to generate income from their retirement investments.

How do you do that? Well, some people retiring today have pensions which will support them. However, most people who are soon to be entering retirement in New York will have to work with a financial planner to create their own "retirement paycheck". This often means a combination of Social Security, having a plan to sell and spend a portion of their investment accounts, and the purchase of annuities which can provide a guaranteed lifetime income.

Your current age, your spending, and your planned retirement age have a dramatic impact on the financial plan for supporting your retirement. A New York financial planner or investment advisor can work with you to analyze your current position and financial plan. After meeting with their advisor, many people realize they should change part of their plan, like working a little longer or spending less. Others will be happy to hear their advisor tell them their income should last. Younger savers can also benefit, by looking at the various savings "buckets" (401k, 403b, IRA, Roth IRA, taxable accounts, etc) you are using for retirement income.

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