Gene Offredi selected for the Lifetime Achievement Award by the International Association of Top Professionals (IAOTP)

Gene Offredi, Owner & Certified Financial Planner of Summit Investor Coach, LLC, was just recently selected for the prestigious Lifetime Achievement Award, by the International Association of Top Professionals (IAOTP), for his outstanding leadership and commitment to the Wealth Management Industry. While inclusion with the International Association of Top Professionals is an honor in itself, only a few members are chosen for this Lifetime Achievement distinction based on their years of experience in the field, professional accomplishments, academic achievements, leadership abilities, and contributions to their communities. These are truly incredibly talented professionals who have dedicated their life to their work and have had a lifetime […] Read more »

Family Businesses Often Overlook Risks To Family Members

Your family business may be well protected from risks but what about your family members? Could the family business do major damage to the family? Are there risks you can remove or protect against? A new family business study indicates that most family businesses lack a regular risk management process that covers the entire enterprise including risks to the family. A report in the May/June 2015 Family Business magazine on the Crystal & Company and Family Office Metrics study said the study found only 30% of the 159 online survey participants have an enterprise-wide risk management process. This concerns me because some business owners focus […] Read more »

Money Book Gives Insights to High Net Worth Individuals

When people recommend a financial planning book I often cringe. So many financial and investment books provide poor advice. But recently a client asked me to read Tony Robbins’ Money: Master The Game – 7 Simple Steps to Financial Freedom and I’ve found many solid, practical ideas in the book. Business owners and high net worth individuals may feel the same. Yes, the book’s long. I’m only on page 340 of its 627 pages. But here are some reasons why Money: Master The Game may be worth your time. First, I believe in taking financial and investment advice from high net worth individuals who have […] Read more »

Does Your Financial “Expert” Work For You Or For His Company?

Summit Investor Coach is a Fiduciary

Many Are Not Obligated To Serve Your Best Interests Assumptions can kill your financial plans. One of the worst assumptions is thinking your investment or financial consultant is legally obligated and motivated to serve your best interests. That may not be true. Many high net worth individuals and business owners believe their professional and credentialed financial expert is legally bound to and compensated for providing financial and investment advice that’s in the client’s best interest. That describes what a fiduciary does. A fiduciary, by law, must give advice that’s in the client’s best interests. Financial advisors aren’t acting in a fiduciary capacity if they accept […] Read more »

6 Small but Impactful Financial Steps for High Net Worth Individuals and Business Owners in 2015

For a moment, put aside the country’s economic prospects. Focus on your own personal financial outlook and that of your own business. We’re already more than a month into 2015. Are you seeing financial improvements? Do you have a solid investment and financial plan for the year? Personally, I think the country’s in an improving economy right now with lots of opportunity for smart business owners and high net worth individuals (HNWI). But financial conditions can change quickly. For you to reach your 2015 business and personal financial goals you need financial insight. Here are six ideas that may give you greater opportunities to grow […] Read more »

Double Your Money Carefully With Compound Interest

Here’s what some of my clients find is a very motivating fact about saving and investing. It’s called The Rule of 72. It’s a formula for estimating how long it will take for you to double your money. The Rule of 72 demonstrates the dramatic positive effect time and compound interest can have on your savings. Here’s how you use The Rule of 72. Divide 72 by the rate of return your money will earn. The answer tells you how many years it will take to double your money at a particular rate of return. For example, if you invest at 4 percent interest your […] Read more »

7 Deadly Investor Traps

7 Deadly Investor traps

Click to view this slideshow “7 Deadly Investor Traps” on Slide Share Was this helpful? Can I help you think through any other issues about your retirement? Please feel free to call me, Gene Offredi, CFP, RFC at 203.453.1017 or visit our website at Summit Investor Coach, LLC.   Read more »

When it comes to investing, the past is definitely not prologue!

One of the least important and least informative questions that prospective investors (or anyone else for that matter) can ask of me — or anyone engaged in this profession — is what was your past performance (choose any period: last year, last three years, last ten years, ad infinitum). I have written and spoken on many occasions, as have many others, that past performance is, perhaps, the least reliable predictor of an investor’s future performance. This isn’t just an opinion, it is not only required by the SEC to be placed into just about every investment offering document, and is supported by a copious amount […] Read more »

What to Expect from the New Health Insurance Marketplace

According to a recent Wall Street Journal poll, 76%  of uninsured Americans don’t understand the  Affordable Care  Act or how  it will  affect them.1 Nearly 48 million uninsured Americans may need to start preparing and budgeting for upcoming changes because all citizens and legal residents are required to have health coverage beginning in 2014 or pay a tax penalty.2  Open enrollment in the government’s new Health Insurance Marketplace is expected to begin on October 1, 2013, and run through March 2014.3 The marketplace should make it easier to compare coverage options based on cost, benefits, quality, and other features. The health insurance mandate was intended […] Read more »

Krawcheck, Blayney: Top Financial Mistakes Women Keep Making

Sallie Krawcheck and CFP Board’s Eleanor Blayney say women fail to take enough risk in their investments and careers Letting your husband or partner manage the money without your involvement. Very 1968… and not in the cool, mod way. Few of us think we’ll get divorced or that tragedy will strike, but look around. It does. You don’t want to be learning about your financial situation while you’re in shock. Using your husband’s financial advisor, even if you don’t really like him/know him/can’t stand him. (And he is usually a “him.”) Here’s a test: at your next joint meeting, how much does the advisor engage […] Read more »