For the time being a phone, Zoom, Skype, or email is replacing in-person meetings.
Financial Advisor Cohasset Tim Hayes AIF®, CRPS®, AWMA®, CFS™, APMA®, CAS®
I have been a professional financial advisor for thirty years. I specialize in building custom portfolios for people who are saving their money for retirement or are already retired.
A psychologist, Daniel Kahneman was awarded the 2002 Nobel Prize in Economics for pointing out what some of us intuitively knew already: people dislike losing money more than they like making money.
Dislike of financial loss is one reason why I give my new clients a risk tolerance questionnaire to complete. For I do not want to build them a portfolio that is 80% stocks, which might lose 30% in a bad year when the client’s risk score indicates they would sell everything if it dropped even 5%.
Disdain for loss can also hinder a client from wanting a portfolio at all, for fear it might not grow fast enough to reach their financial goals. As their financial advisor, I need to alert my clients to possible pratfalls and provide them with solutions: save more, take more risk, diversify more, or spend less, depending on each client’s individual situation.
Financial Advisor Cohasset Tim Hayes AIF®, CRPS®, AWMA®, CFS®, APMA®, CAS®
Fee-Only or Commission What is Best for You? Many financial advisors are registered as both representatives of a broker-dealer and as investment-advisor representatives of an investment advisor
Public school educators, including university professors and administrators, can save more pre-tax than any other public or private-sector employee.