Financial Advisor Tim Hayes an Independent Boston Consultant
Financial Advisor Tim Hayes
Put Your Money in the Hands That Know Best
Life isn’t all about money, but it is an important tool for building the life you want. Like with any tool, the best results are achieved when skilled, experienced hands are in control. I have studied the financial markets for over 30 years, and as the new financial ‘normal’ is continually redefined, I am always striving to learn more about it and adapt my knowledge to it.
The result: I can help you make smart investment decisions for every stage of your life, under all market conditions.
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- I have been a professional financial adviser for 30+ years. I specialize in building custom portfolios for people who are saving their money for retirement or are already retired.
- I can access thousands of mutual funds, ETFs, annuities, and life and disability plans. I have all the tools that individuals, companies, and nonprofits need for their wealth management and financial planning for retirement.
- Because I am an independent financial advisor, there are no requirements to fulfill before using a specific tool. Therefore, you benefit from advice and products that are tailored to your unique financial needs.
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Who Am I Affiliated With?
I am an Investment Adviser Representative at Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser (RIA) based in Fairfield, IA. I am also registered with Cambridge Investment Research, Inc., an independent broker-dealer with over 3,000 registered representatives nationwide.
How Much Do I Charge?
Most clients pay fee-only or an hourly rate. The size and complexity of the client’s wealth management and financial and retirement planning determine that fee.
Some clients pay a commission, mainly those with smaller accounts, i.e., Roth IRAs, some public-school teachers with 403b retirement accounts, or parents or grandparents who set up a 529 college savings plan.
Do We Need to Meet in Person?
The first introductory and fact-finding appointment can be in-person or by phone. The next meeting where I provide my recommendations should be in-person. (For the time being, telephone, Zoom, and email are replacing some in-person meetings.)
Subsequent meetings during which we monitor your progress and investments can be done in-person or by phone, email, Zoom, or Skype – or, more likely, a combination of these meeting types.
Can Financial Advisors be Independent?
A truly independent financial advisor is self-employed and has no financial or business incentives to sell a company’s financial products. Therefore, the advisor shuns all subtle attempts to influence their behavior, such as invitations from companies for free dinners or tickets to ball games.
To remain independent, the advisor must do much of their research, including finding objective tools and sources, staying up-to-date on new rules and regulations, and recognizing it is human nature to feel an obligation to reciprocate such gifts.
The financial advisor must decide if they will create their own registered investment advisory firm or partner with an established firm, recognizing the strengths and weaknesses in each path.
Independent Financial Professional
I Minimize Conflicts of Interest so That I Can Provide Objective Advice.
- I work with individuals to build or update their personalized investment portfolios based on their goals and risks and then review their portfolios at least once a year.
- I advise on any possible rollovers from employer retirement plans and help design strategies for income planning during retirement.
- I can also advise on your life and disability insurance needs.
- I implement, manage, and service the retirement plans of companies and not-for-profits per the rules and regulations of ERISA and the Department of Labor (DOL). I also can install and manage group life and disability plans.
- I advise executives and business owners on their nonqualified deferred compensation plans, stock options, and company stock (net unrealized appreciation, NUA).
- Most client investment accounts are held at Pershing LLC and Fidelity Investments, Pershing, which is a wholly owned subsidiary of the Bank of New York Mellon Corporation (BNY Mellon).
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My Professional Designations
Individuals who hold the AIF® designation have:
- Completed the AIF® Designation Training;
- Passed the AIF® designation exam;
- Met the designation’s prerequisites and qualification and conduct standards;
- Accrued a minimum of six hours of continuing professional education, with at least four hours coming from fi360-produced sources;
- Attested to a code of ethics.
Individuals who hold the CRPS® designation have:
- Completed a course of study encompassing design, installation, maintenance and administration of retirement plans;
- Passed an end-of-course examination that tests their ability to synthesize complex concepts and to apply theoretical principles to life situations;
- Pledged adherence to the CRPS® Standards of Professional Conduct, and are subject to a disciplinary process in that regard.
CRPS® designees renew their designation every two years by completing 16 hours of continuing education, reaffirming adherence to the Standards of Professional Conduct, and complying with self-disclosure requirements.
Individuals who hold the AWMA® designation have:
- Completed a course of study encompassing wealth strategies, equity-based compensation plans, tax-reduction alternatives, and asset-protection alternatives;
- Passed an end-of-course examination that tests their ability to synthesize complex concepts and apply theoretical concepts to real-life situations;
- Agreed to adhere to the AWMA® Standards of Professional Conduct, and are subject to a disciplinary process in that regard.
AWMA® designees renew their designation every two years by completing 16 hours of continuing education, reaffirming adherence to the Standards of Professional Conduct, and complying with self-disclosure requirements.
CFS designation is awarded upon passing an examination on mutual funds, ETS, REIT’s, closed-end funds, and similar investments. Advanced studies on topics include:
- Fund analysis and selection;
- Asset allocation;
- Portfolio construction;
- Sophisticated investment strategies for risk management, taxes, and estate planning.
San Diego, CA, November 13, 2020 – The Institute of Business & Finance (IBF) recently awarded Tim Hayes with the only nationally recognized tax designation, CTS™ (Certified Tax Specialist™). This graduate-level designation is conferred upon candidates who complete an 135+ hour educational program focusing on personal income taxes and methods to reduce tax liability. The combined top state and federal bracket can easily exceed 40%.
San Diego, CA, September 1, 2020 – The Institute of Business & Finance (IBF) recently awarded Tim Hayes with the estate planning designation, CES™ (Certified Estate and Trust Specialist™).
This graduate-level designation is conferred upon candidates who complete a 135+ hour educational program focusing on trusts, wills, probate, retirement benefits, caring for children, and what should be done after the death of a loved one. Over $50 trillion is expected to pass from one generation to another during the next half-century.
The Accredited Portfolio Management AdvisorSM, or APMA® program, is a designation program for financial professionals. The program educates advisors on the finer points of portfolio creation, augmentation, and maintenance. Students will gain hands-on practice in analyzing investment policy statements, building portfolios, and making asset allocation decisions.
San Diego, CA, May 12, 2020 – The Institute of Business & Finance (IBF) recently awarded Timothy Hayes with the only nationally recognized annuity designation, CAS® (Certified Annuity Specialist®).
This graduate-level designation is conferred upon candidates who complete a 135+ hour educational program focusing on fixed-rate and variable annuities. Several trillion dollars are invested in annuities; it is estimated that at least one-third of all annuity contracts are not titled correctly.
Financial Planning Services for Individuals
- We meet to talk about your goals so I can get a snapshot of your current investments. I ask each of my soon-to-be clients to take an online risk profile assessment so I can see whether your current investments match your goals and risk tolerance.
- If your objectives and risk tolerance are in sync with each other, we may fine-tune your current portfolio. If they are out of whack, I will design a new custom portfolio that better reflects your risks and goals. We commit to reviewing your portfolio at least once a year.
- We figure out whether you should keep your 401(k) or 403(b) with your previous employer or roll it into an IRA, where I will build a new portfolio for retirees or job changers.
- Plus, we review any pension options for which you may be eligible, review any Social Security or Medicare questions you may have, or examine any group life and disability policies you may want to convert.
- We consider the choices available to you in your 403b or 457 plan for educators and other public employees. I recommend one or two of them, and then I build and monitor your portfolio.
- When you need life or disability insurance, we determine together how much coverage you need. Then we decide on the type of insurance policy that suits you best: term, whole life, universal or variable life, short- or long-term disability.
Financial Planning Fact Finder
Wealth Management – I build portfolios for individuals, trusts, and retirement plans. The portfolios may hold stocks, bonds, cash, mutual funds, and exchange-traded funds (ETFs). The client’s goals, time horizon, and risk tolerance impact what the portfolio holds. Risk tolerance is how a client feels about a drop in their account. The time horizon is the length of time before the client needs the money.
- Stocks, bonds, mutual funds, annuities, ETFs
- FinaMetrica risk tolerance questionnaire
- Portfolio rebalance when needed
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Portfolio Management Bigger Accounts
The client needs a minimum of $100,000. It can include just about any account: IRAs, 403bs, joint accounts, personal brokerage accounts, etc.
- Your account size and the complexity of your wealth management will determine fees, but it is never greater than 1%.
- The accounts are primarily invested in mutual funds and exchange-traded funds (ETFs). All funds have passed my rigorous due diligence process.
- I design the portfolio to meet your goals and ensure it is consistent with how much risk you are comfortable with taking.
- After the account is set up, you receive monthly statements, and you can follow your account online with CirStatements.
- We periodically meet to check the portfolio, discuss performance and rebalancing, and confirm you are on track to achieve your goals.
- The custodian for the accounts will be Pershing, a Bank of New York Mellon.
Portfolio Management: If you don’t have $100,000 to invest
My fee-based accounts require a minimum of $100,000; if you have less than this amount to invest, I usually charge a commission or an hourly rate.
- However, I use a similar due diligence process for building your portfolio. I use mutual funds and exchange-traded funds (ETFs) that have passed my due diligence process screening for low fees, historically competitive performance, low fund turnover, and long manager tenure.
- I work with all types of account registrations: IRAs, Roth IRAs, 403(b)s, SEPs, SIMPLES, 529 Plans, etc. After the portfolio is set up, you will receive monthly or quarterly statements. You can follow your account online at CirStatements.
- The custodian for the accounts will be Pershing, a Bank of New York Mellon company, or the fund family directly.
- Periodically, we will meet to check if the portfolio is on track, monitor performance, and discuss rebalancing.
Investor Profile Questionnaire
Retirement Planning – Employees who leave their employer can keep their 401k or 403b there or move it to an IRA. If they decide to move it, I build their IRA portfolio. I also build portfolios for clients saving for retirement.
- IRAs, 403b, annuities
- 403b Financial Advisor
- Pension max for public employees
- IRA rollovers from an employer plan
How to Choose a Financial Advisor for Retirement
Retiring Checklist
- Review the fees in your 401k plan or 403b
- Review the fund lineup in your 401k plan or 403b
- Check if there are enough choices to provide retirement income security
- Calculate your retirement risk-tolerance score
- Compare your retirement risk score with your current 401k or 403b allocation
- Recommend whether you should leave your 401k or 403b in your plan or roll it to an IRA
- Design your retirement portfolio in your 401k, 403b, or IRA using your retirement risk tolerance and income goals
Do I Need to Roll Over My Retirement Plan for You to Provide Advice?
No. You don’t need to roll over your retirement account to get advice. I offer flexible payment options for clients. For example, I can have you pay a quarterly fee if it costs you more to roll it over.
One of the reasons the Department of Labor created the Fiduciary Rule is their concern that financial professionals and advisors are recommending clients roll their 401k and 403b when it would cost them less to keep their money in their previous employer’s plan.
My advice is ongoing as we meet and adjust your retirement accounts, getting you the income and security you need.
Please be sure to speak to your advisor to carefully consider the differences between a company retirement account and IRA investment. These factors include changes to the availability of funds, withdrawals, fund expenses, fees, and IRA-required minimum distributions.
Are You Ready to Retire?
Insurance – I can get clients the right type and amount of life insurance or disability insurance. I am licensed with many insurance companies, so I can find a good product.
- Needs analysis
- Whole life, term insurance, universal, and variable life
- Disability insurance
Independent Life Insurance Advisor In Massachusetts Tim Hayes
Corporations, Nonprofits, Partnerships, and Self-Employed
- I build a template for your company’s 401k or ERISA 403b plan that produces plan-specific investment recommendations and reports as well as fees and compliance reports, all of which are now required by the government.
- I provide investment advice to help participants plan and encourage them to take an online risk profile assessment we can use to help them rebalance their accounts or allocate their contributions.
- For companies without a retirement plan, I size up and implement the one (401k, Profit Sharing, 403b, SIMPLE, or SEP) that works best for your company.
Businesses and Nonprofits – I provide investment advice or education to the individuals in your retirement plan. I can also monitor investment options and provide fee
- Fee reporting
- Employee education and ERISA 404(c) compliance
- Fiduciary advice
Owners and Executives
- I work with you and your attorney to design a nonqualified deferred compensation plan.
- I discuss with your boards, partners, executives, or family members on whether your company should own life insurance on any key employees.
- Are you buying or selling a partnership or family business? I can help your operation continue beyond its purchase or sales phase by seeking out an insurance company and type of policy that best matches the goals of your buy/sell agreement.
Executives and Business Owners – I can use life insurance to facilitate ownership changes and protect a business from losing a key executive.
- Key employee insurance
- Deferred compensation
Client Testimonials
Barbara Davis
"I have been served for over 20 years and plan to continue working with Tim. Tim is an intelligent, well-educated, and kind man. Tim has always been available by visit or by phone. He explains what is going on financially and makes every effort to Explain and discuss our relationship. It is my pleasure to rate Tim as A+ in all our interactions. I am very pleased with the man, and how he serves his clients as to financial advising."
Tim Hayes has been my financial advisor for close to forty years. He is sincere and direct in his approach to supporting his clients.. I highly recommend Tim to anyone seeking a financial advisor who is skilled, client-centered, and practices with integrity. "
Julia Concannon
Phyllis Gleason
"I was fortunate to get a recommendation for Tim Hayes from a colleague many years ago, and I have benefitted greatly from our partnership. At our first meeting, I immediately felt that I was in good hands. Tim is a wonderful listener, and he asked great questions that allowed me to focus my long-term financial goals. He has always been very responsive to any questions I have had and keeps me informed about the impact the vagaries of the investment world have on my portfolio while, at the same time, giving me advise on our next steps. I would highly recommend Tim to anyone needing investment services. Both his knowledge and his thoroughness are refreshingly impressive."
"Tim Hayes has been my Financial Advisor for a number of years. He has always been patient with my questions and explains everything in understandable terms. It is a pleasure to have him as my Financial Advisor, and I look forward to many productive years ahead."
Penny Demers
Cynthia Hayes
"Tim has been my financial advisor for many years. Tim is ethical, honest, thorough, detailed, thoughtful, knowledgeable, very helpful, and, last but not least, kind. He stays abreast of changing policies, laws, etc., and communicates them to me as applicable. Tim helped me to plan successfully for my retirement, and I am forever thankful to him. I highly recommend Tim if you need a financial advisor with his attributes.." Additional disclosure Cindy is Tim's stepmom.
"Over the past 30 years I have had three different account mangers watching over my tax sheltered annuities. I can say without reservation that Tim has been the best communicator of them all. He made my transition to securing my required allotments annually very easy because he “answers his phone”. He has taken the worry out of its for me."
Dennis C. Bentley
Wanda Carrasquillo
"Having worked with Tim Hayes for 28 years, I can attest that he is an outstanding financial advisor who has provided me with great financial guidance and support throughout the years. He is always available to answer questions and concerns and has built a relationship based on trust and honesty. Tim is a reliable, committed and trustworthy financial advisor with vast knowledge and experience."
"Tim Hayes has been a great financial partner for our family! He has been timely and his follow through always reliable! He has given us solid advice, has helped us to make good choices, and has been a source of reassurance and calm when we have needed! We highly recommend Tim!"
The Brodsky Family
"I've had Tim as a financial advisor for many years. He's always provided effective advice and has made himself available whenever I've requested. I highly recommend Tim to anyone looking for a financial advisor you can trust."
Meriane Daphnis
Mary Walsh
"As a person whose only association with finance is balancing my checkbook once a month, I am incredibly fortunate to have Tim Hayes as my financial advisor. With the economy in the fluctuating state it has been in recently, if ever I have a question or am just feeling uneasy concerning my investments ,he responds very quickly and what I appreciate most about Tim is that he never ever talks down to me or makes me feel my question is unimportant I would whole heartedly recommend Tim Hayes."
"I have been very satisfied with Tim as a Financial Advisor. He is personable and pleasure to work with, is knowledgeable about investments, and his recommendations seem to be very much in my best interest. He’s always made himself available if I have questions. He also expedites any requests I have for withdrawal from my account."
Cindy Primett
Maria J
'My name is Maria J., I work as a teacher and Tim has been my financial advisor for roughly 18 years. He has been good with my money, giving me advise and explaining clearly what I should expect when I invest my money. He is to the point, always asking you how comfortable you feel investing your money; are you more of a risky investor or more traditional investor? He can guide you and he acts upon your level of comfort. Some years I made money, some years I didn't, but this is a long journey that will pay off at the end.'
Tim Hayes has served as my financial investment advisor for many years. He is experienced, knowledgeable, competent, flexible and proactive. Tim sends to me, via email and on a regular basis, secure and thoroughly organized “Client Reports” of my “Combined Account Portfolio”. If I have trouble understanding any part of my Portfolio or have questions regarding it, he is always available to explain what I don't understand and answer my questions. Tim is forthcoming with his emails advising me on any changes to my holdings that could be more beneficial to me, given the particular state of the financial market at the time. Because of his experience and knowledge, he can be and is proactive with his advice. He allows for a flexible schedule and has met with me in person during times when needed. Over the many years of working in my career and setting up savings funds for the future, saving funds for my grandchildren, retiring from my career and setting up appropriate savings vehicles, Tim has always been there to advise and help. I believe Tim is dedicated to doing what's best for his clients and their financial investment needs and goals."
Pat Barbour
These testimonials are based upon an individual client experience and may not represent the experience of other customers, and should not be considered a guarantee or indication of future performance of success.
