The last few weeks seemed to fly by so fast. Like a lot of you, on weekends I’ve been up on the roof trying to manage the snow/ice pack and prevent ice damage or even worse a roof collapse. During the weekdays, my assistant Susan and I have been helping a steady stream of clients. From time to time we share with you some of the goings on here, both as a matter of interest and to let everyone know what we do in case there might be a friend or family member to refer for similar issues. Frankly, I’ve had a hard time extracting the “what’s going on” details from my partners and associates, but as I thought back over just what Susan and I worked on over the last week… we have plenty to share with you.
- Analyzed and advised a client regarding a Roth IRA conversion.
- Researched and advised a client age over 70 who inherited his spouse’s IRA and now has the opportunity to not take required minimum distributions until the age his deceased spouse would have been age 70.
- Advised a cadet at the United States Naval Academy and his parents about the correct use of personal exemptions for the taxes.
- I’ve been designing a financial advisor trainee program so that we can attract young people to the firm and train them over course of years to be advisors to deepen our bench
- We are conducting a cyber security audit for the protection of our clients information and to be ready for the Securities and Exchange Commission when they come asking what our policies and procedures are as this is a high priority for the SEC.
- After 12 years of serving as trustee on a client’s irrevocable life insurance trust, we are cashing in the policy distributing the proceeds to the beneficiaries and preparing the tax return for the gain realized.
- We are advising several clients who have cash to add to their accounts about dollar cost averaging programs and accelerating those programs as the market is now in “confirmed uptrend”.
- We’re helping an 84 year-old client finance the purchase of a new assisted living condominium.
- We’re helping a client “off the ledge” after his self-directed 401(k) was invested in cash for many years missing the recovery in the markets since 2009
- We advised an overseas client who wished to purchase a foreign security stock idea of his.
- We advised the client about consolidating her credit card debt.
- We analyzed and advised a client about the IRA contribution matching program offered by Fidelity.
- I’ve arranged dates for a job shadowing program for students at Suffolk University where I’m an alumni.
- We help a client transfer stock resulting from her ownership of an insurance policy into her account with us at SEI.
- We helped a $3 million irrevocable life insurance trust set up an account to invest.
- We met with a few clients to do a year-end reviews and update their personal financial plans.
- We worked with the trustee of the client’s charitable remainder trust to have their tax return prepared and calculate the will distribution from the trust
- Mentoring our youngest partner Omar Mian on the business so that someday he’ll step into my shoes so I can play more.
- Helping Omar on-board his new assistant Katie Lindsay so that she gets the training she need to grow into the advisor we hope she will be someday.
And that’s just Susan and I in one week, not counting the usual daily details of processing client requests for distributions etc and staying current with research and so on.
If there’s anything we can do to help you or if a friend or family member needs help in any of the many areas in which we have expertise please feel free to call on us.