Retaining an independent financial professional is as important for planning as it is for asset management. Mader Shannon has no commitment to any product or service that will in any way conflict with the best interests of our clients.
Our services are designed to offer objective advice and set reasonable expectations. We take the time to educate clients on suitable financial solutions, carefully exploring risk and performance expectations.
We provide the following services for helping clients achieve their financial goals:
- Comprehensive Financial Planning
- Asset Management
- Complete Portfolio Analysis/Review
- Pension Plans
- Company 401k Plans
- 529 and Education IRAs
- Qualified Plan Rollovers
- Retirement Cash Flow Planning and Projections
Mader Shannon manages 529 College Savings plans on the TDAmeritrade platform. The plans are sponsored by the State of Nebraska and Union Bank & Trust Company serves as the Program Manager.
The benefits for our clients are as follows:
- Mader Shannon can continuously monitor the plans and make allocation changes periodically through primarily Vanguard funds (currently the IRS restricts changes to twice a year).
- Tax parity laws in some states (including Missouri and Kansas) make the state tax deductions available even though the plan is in Nebraska.
- Eligibility for tax-free withdrawals for qualified higher-education expenses applies to any nationally accredited school, not just those in Nebraska.
Contact Bret Guillaume at 816.751.0575 or firstname.lastname@example.org to open an account or transfer an existing 529 balance.For more information on College Savings Plans visit www.collegesavings.org.
Why an Independent Agent?
There are two types of licensed agents in the life and health insurance industry: a “captive agent” representing one company and an “independent agent” representing multiple companies. Independent agents are also commonly referred to as “brokers”. Captive agents are limited to the products offered by their company while independent agents can select from countless products to fit a clients needs. Obviously, an independent agent is most often going to offer more suitable solutions.
In addition to a professionals independent status, it is important the representative be licensed to offer advice on securities, tax planning, estate planning, to tailor the most suitable solutions. This becomes important for two reasons. Any good financial plan starts with a careful assessment of a person’s objectives, income, assets, and potential inheritance. Unfortunately most insurance agents are not licensed, trained, or qualified to do financial planning, instead they are trained to be transaction driven for commissions rather than driven by the customer's best interest. Sales activity, with little regard for suitability and actual customer objectives, is counter productive and gives the industry a bad name.
A true independent financial planner must be licensed and have advanced training in many disciplines. Unfortunately, most insurance agents/financial advisors are only licensed to sell insurance, annuities, and mutual funds. Such limitation would make comprehensive planning difficult and expensive compared to a more comprehensive approach by an independent financial planner who works in a fiduciary capacity, or solely in the clients best interest. Such a professional is focused on plan design, researching suitable solutions, and performance, versus being product and transaction driven.
Mader & Shannon Wealth Management has always worked as a fiduciary putting our client’s needs first at all times.
What is a Fiduciary Financial Advisor?
A fiduciary financial advisor is a trusted professional who is legally required to prioritize their clients' interests over their own. Acting as a fiduciary carries great significance in the financial services industry, as it involves total trust, good faith, and honesty. Mader Shannon upholds this standard as an SEC registered RIA (Registered Investment Advisor), ensuring that conflicts of interest are eliminated and advice is trustworthy.
Regulatory bodies demand a higher standard of care from fiduciary advisors, and all the principals at Mader Shannon hold designations that require them to adhere to or surpass the fiduciary standard of care. These designations, such as Certified Financial Planner (CFP®), Chartered Life Underwriter (CLU®), and Charter Financial Analyst (CFA®), further strengthen their commitment to the fiduciary approach.
Maintaining independence allows Mader Shannon to prioritize clients' interests without being influenced by a parent company, resulting in a stronger client-advisor relationship and a more fiduciary-centric service. As fiduciary financial advisors, they offer heightened transparency in their service delivery and compensation structure.
For more information on fiduciary standards and selecting a financial advisor, please refer to the provided articles.