Whether you are already retired, transitioning towards retirement, or saving for retirement, retirement advisor Tim Hayes can keep you on the right path.
Transitioning Towards Retirement
- Analyze your 401k or 403b plan
- Discuss your rollover options
- Measure your risk tolerance
- Investigate your pension options
- Options if you own employer stock
- Evaluate your Social Security and Medicare options
- Inspect of any group life insurance is eligible for conversion to an individual policy
Read more: Rollover checklist
Saving for Retirement at Work
- Individuals: I build and manage your IRAs including beneficiaries who inherit IRAs
- Public School Employees: I research your 403b choices we pick one then build your 403b account
- Small Business Owners: I design and manage your SEPs, Solo 401k, or SIMPLE.
Read more: 403b and 457 Retirement Catch-Up Option
Retirement Experience and knowledge you can trust
I build and manage the portfolios of individuals with IRAs, public school teachers with 403(b) accounts, and business owners, for whom I design and manage SIMPLE and SEP plans.
I was therefore thrilled when, in 2011, the U.S. Department of Labor changed their rules to allow financial advisors to give investment advice to 401(k) plans. Now, if an employer says this is okay, and financial advisors follow one of the two DOL-approved templates, than they can give proper counsel to the employees.
A highly controversial proposal from the DOL in May 2015 piggybacks on the 2011 update. It redefines further how financial advisors can provide counsel. If finalized, it will become the most drastic change to employer-sponsored retirement plans and IRAs in the last fifty years.
The 5th Circuit Court of Appeals ruled on March 15, 2018, that the Department of Labor overstepped its bounds in creating the so-called fiduciary rule, parts of which went into effect last year. In general, the rule required that advisors and brokers charge clients the same fee no matter what product they offer them. The so-called conflict of interest provision.
There is talk that the SEC and or FINRA, both of whom regulate advisors and brokers will pick up the ball from the DOL and implement their own retirement advice rule. Some think these organizations because they regulate brokers and advisors are better suited than the DOL who governs retirement plans to apply a new standard.
More About Tim
Expert and highly personalized financial planning, retirement planning, and independent investment solutions for individuals, couples, and businesses in Eastern Massachusetts, including Boston and surrounding cities. So when you need an independent financial advisor in Massachusetts - Salem or the North Shore, Hingham, or another town on the South Shore, Andover and the Merrimack Valley, MetroWest including Foxboro, or the Southcoast, Martha's Vineyard, Nantucket, and Newport, Rhode Island in my Dartmouth office.
There is no charge for the initial consultation, and it can be at your home, office, or favorite coffee shop.