Financial Advisers Don’t Care About Millennials, and Vice Versa
The investment industry has an age discrimination problem, and millennials and Generation X are bearing the brunt of it. Only 30 percent of financial advisers are actively looking for clients under age 40, according to a survey of 500 advisers by the research firm Corporate Insight. Advisers prefer older clients for a simple reason: Most advisers get paid based on a percentage of the assets they manage. And typical households in their...
Money Talk: Tips for Finding a Financial Adviser
Question: We recently inherited some money. We’ve never had much. We want to invest our inheritance for our kids’ college education. We asked around to find investment firms that people have had a good experience with. But how do we know they are honest and make sound investment decisions? How do we know if the rates they are charging are fair and reasonable? For example, one charges a percentage of the value of the account. How do I...
Helping a Couple Escape Their Financial Trap
The couple had made every mistake you could: retired too early, spent too much, took on too much house and too much debt. “This is killing me,” Sarah told the adviser, as she burst into tears. Doug and Sarah had left their well-paying jobs in their late 50s, with little idea how they would pay for a long retirement. With anguished faces, they came to Eve Kaplan, an advisor in Berkeley Heights, N.J., for a solution. As a financial...
People in Business: March 29, 2015
Guy Alderdice Jr., of Windsor, has joined the West Windsor office of The Vermont Agency, whose primary carrier is National Life Insurance Co. of Montpelier. Alderdice has 14 years of experience in the financial services industry and is a registered representative and investment adviser representative of Equity Services Inc. He graduated from Mount Mansfield Union High School in Jericho, Vt., and earned a bachelor’s degree in business...
