About Tim

Experienced Financial Advisor in Suit

Tim Hayes

Financial Advisor

Tim Hayes, you are the proprietor of your firm. What sparked your interest in financial advising, and what were you doing professionally speaking before forming this firm? Also, what is the history of this firm?

Out of college, I started in financial services with a small company (United Resources) that specialized in 403(b) plans. MetLife quickly bought them out. I worked at MetLife Resources, a division of MetLife specializing in retirement plans and managing client portfolios, for 20 years.

Twelve years ago, I decided I wanted to go independent. I am now affiliated with Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor (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.

Financial Advisor Tim Hayes

I hope clients come to me because I put their interests first. I have a lot of experience and have been through a bunch of different markets, and I am independent. I am not required to sell any companies’ products.

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.

What Are the Disadvantages of an Independent Financial Advisor?

One disadvantage of a sole-proprietor independent advisor is succession planning. That is what happens to the advisor's clients when an advisor retires or, God forbid, passes away. Instead, if the client were with a big firm such as Morgan Stanley or Merrill Lynch, they would most likely be reassigned to a new advisor, making continuity easier. However, the process becomes backward in that the company, not the client, chooses the advisor.

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Securities Licenses

Passing the exam qualifies candidates as both securities agents and investment advisor representatives.

Individuals who pass the Series 7 examination are eligible to trade all securities products: corporate securities, municipal fund securities, options, direct participation programs, investment company products, variable contracts, etc.

The exam measures the degree to which each candidate possesses the knowledge needed to offer the products of investment and insurance companies, including the sales of mutual funds and variable annuities.

The exam qualifies candidates as securities agents within a state. Nearly all states require people to pass the Series 63 for state registration.

I am also licensed to offer life, health, accident, disability and long-term care insurance plans, as well as fixed annuities.

Designations & Certificates

The NSSA® Certificate Program is a nationally recognized standard of competent and ethical Social Security planning, education and training.Professional advisors who earn the NSSA® Certificate benefit society by helping individuals and couples improve their financial security during retirement years through maximization of Social Security benefits.

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.

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Cambridge’s Philosphy

Cambridge Investment Firm Logo

Cambridge’s purpose is to make a difference in the lives of our financial professionals, their clients, and our associates. Our values are integrity, commitment, flexibility, and kindness, and these values have served us well for over 40 years.

Over 3,700 independent financial professionals choose Cambridge for financial solutions and services, and they serve hundreds of thousands of investing clients across the country through their independent businesses.

To receive the Five Star Wealth Manager award, individuals must satisfy a series of eligibility and evaluation criteria associated with wealth managers who provide services to clients. Recipients are identified through research conducted by industry peers and firms. Third party rankings and recognitions from rating services or publications are not indicative of past or future investment performance. For more information, go to www.fivestarprofessional.com.

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