by Robert Cooper

Q.  Robert, I have been handling my own finances for years.  I do my own research, buy and sell stocks on my own, and I have been fairly successful.  I understand that Financial Advisors are probably necessary for the masses but not for me.  I do not feel comfortable attending workshops that I am invited to because I do not need help at this time, plus my wife would not find this interesting as she has no idea of how I handle our various portfolios and does not seem to care.  So why would I need your services? – Ken in Winston-Salem

A.  Ken, I am glad you are doing well on your own.  It takes a lot of research and study to be successful dealing with the stock market.  However, if you reread the statement you made before your question, you should see a glaring issue.  What would happen if you died suddenly?  Is your wife going to be able to continue with the research, buying, selling, etc?

Surviving spouses (normally widows) usually have to struggle with three things:

~ Income Planning

~ Portfolio Planning

~ Tax Planning

I will assume that you, like most independent investors, have a steady stream of money from one or more of your investment accounts going into your checking account monthly.  When you die whatever brokerage house you use (Schawb, Etrade, etc), is going to freeze your account.  Until this is lifted you need to have done something about Income Planning.

I will also assume that if you die your wife will not have a clue about your portfolio.  I would guess that you have between 5 to 15 accounts.  She will definitely need help with Portfolio Planning.

Even something else she will have to deal with is taxes.  She will have to increase quarterly tax estimates simply from changing her return from “married” to filing “single.”  Therein lies the Tax Planning.

The point I am trying to make is simply that having a relationship with a competent Financial Advisor is more than picking stocks; it is preparation for the future.

Please keep the questions coming at Robert@CooperCares.com.

For individual appointments call us at 336-993-2012.

Thanks, Robert

If you would like a complimentary one-on-one consultation please contact our office at 993-2012.

Any comments regarding safe and secure investments and guaranteed streams refaer only to fixed insurance products. They do not refer, in any way to securities or investment advisory products. Insurance and Annuity product guarantees are subject to the claims paying ability of the issuing company, and are not offered by Global Financial Private Capital.

Robert Cooper, CRPC, RFC
Registered Investment Advisor Representative

Providing Financial Planning Services in the Triad for over 20 years.

336-993-2012 • www.coopercares.com
935-E Mountain St., Kernersville, NC 27284

Investment Advisory Services offered through Brookstone Capital Management, LLC.