Remember the days when you could retire and look forward to spending the remainder of your days in relative comfort?
You could rely on your pension, Soc ial Security, and the flow of dividends and interest from conservative, safe stocks and bonds.
Those were the good old days!
Times have definitely changed. Today, we have:
And Americans are living longer.
Instead of expecting retirement to last 12-15 years, the average retirement can last as long as 30 years with retirees far more active than a generation ago.
Is it any wonder that personal financial planning now requires more thought and more expert financial advice than ever before?
Because of the jump in life expectancy and the volatility of the market, preparing for their kids' college education, and saving for their own future, many pre-retirees ask, "At this rate, how will we make ends meet when we do retire?"
They are naturally concerned about their finances.
To complicate matters further, the Department of Labor's new fiduciary rule can make getting sound retirement advice harder and more expensive to get.
In order to comply with this new ruling, advisors and broker/dealers managing retirement assets must either move to a fee-based compensation model or sign a DOL "best-interest contract exemption," or BICE, with clients.
BICE stipulates that investment advisors can only earn "reasonable compensation" on non-fee-based products. If a client feels that their best interests have been violated, they can file a class action lawsuit.
At Barkey Financial, I've always kept my relationship with clients simple and straightforward. Building and preserving trust right from the start is priority #1 with me.
With this approach to managing your money, there are fewer inherent conflicts of interest, which allows me to provide you with more comprehensive service.
With commission-based agents and brokers, the ultimate decision on how to handle your money is tied to specific products and transactions. How does that translate to what the client truly needs?
Additionally, when you choose a fee-only financial advisor, there are no surrender charges, lockup periods, or financial hooks. You can terminate your service at any time.
Barkey Financial answers all of your big questions, choosing financial options that benefit you, not me.
We'll discuss your current investment portfolio, possible budgeting changes, and how to keep growing your money.
As a fee-only advisor, there is never a question about where my interests lie—I work on your behalf always.
The primary fee structure is based on managing all of a client's finances, with a percentage charged for the assets under management.
Barkey Financial does not render legal, tax, or accounting advice. At your request, Barkey Financial will provide professional references in these and associated areas.
Want to learn more about the benefits of working with a fee-only financial advisor? Would you like a review of your current portfolio? If so, Barkey Financial offers a free consultation. Call 540-849-6265.
Or fill out the form on the left, and we'll arrange a time!