It can be all too easy to get distracted by the ups and downs of today’s economy, but the right experience and guidance can help you develop a sound financial planning strategy and establish a confident future for yourself and your loved ones.
The best investment planning involves setting clear financial goals, understanding your personal risk tolerance and using a combination of asset allocations designed to meet your unique goals. This type of planning is available at Gregory Ricks & Associates, and its team of knowledgeable professionals is dedicated to helping individuals stay focused during market fluctuations and avoiding impulsive decisions driven by short-term emotions.
Ricks, founder, CEO and wealth advisor at Gregory Ricks & Associates, said each client at the firm has a team of advisors to help guide them. These advisors reach out to clients at least once a year, and sometimes more often, to check in on their financial situation, discuss their future strategy and discuss new investment opportunities that may be available.
“People who want to start investing shouldn’t worry about us judging their finances, being less organized than they would like or not having a particular budget in mind,” Ricks said. “We will help you through all of that. The important thing is to get started. It’s truly as simple as that.”
Ricks shared more details about services at Gregory Ricks & Associates and how adults should approach investing.
Which services at Gregory Ricks & Associates are most popular among clients?
The two areas we handle the most are investment management and income planning. People want to know how long their money will last and when they will be able to retire. They also want to make sure that the money they have invested is doing what they hoped it would do. There are so many ways to invest and so many rules that can come into play, which is why it’s a good idea to have an advisory team work with you.
At what age should people start to think seriously about investment and retirement?
Most of our clients are in their 50s and older. I think people should actually start earlier than that. The hardest money to accumulate is the first $100,000, and it’s great when people can start doing that when they are younger. Once that milestone is reached, the power of compounding can begin to play a larger role, potentially leading to account values doubling over time.
One of the best tools we have for people who are still working is an in-house 401(k) analyzer system, which we will be updating in the near future. This lets us guide anyone of any age who has a 401(k) so they can be informed going forward. We want to help them make good decisions and the right contributions now so they can be better prepared when they are closer to retirement.
Gregory Ricks
How does your firm help reassure and guide people during times of economic uncertainty?
Volatility creates a lot of noise and fear, but if you have funds that you can invest, it’s a great opportunity because history tells us that the markets should always bounce back. However, in our guidance discussions with clients, we do talk about how much to allocate based on when they need access to their money. If that time horizon is shorter, you shouldn’t have as much risk exposure.
I think the way our team handles volatility is one of the ways in which we strive to excel. Even with the changes we’ve seen in recent months, we’ve received very few calls from our clients. We’ve done a good job of helping them understand that it is a lot of noise and that we have their money properly diversified to set them up for long-term success.
What do you think sets Gregory Ricks & Associates apart from other firms?
Our advisors do not prospect or spend time finding clients. They only spend their time working with their clients and helping them maximize their financial situations. The marketing, prospecting and handling inbound calls is handled by a separate department. Ultimately, everything that we do is based on what is right for the client.
The five-step Financial Guided Planning System® Process at Gregory Ricks & Associates helps clients gain a holistic view of their complete financial situation and includes income planning, investment planning, tax-efficient planning, health care planning and estate planning. Visit gregoryricks.com to learn more or schedule a consultation.
DISCLOSURE: Insurance products are offered through the insurance business Gregory Ricks & Associates, Inc. Gregory Ricks & Associates, Inc. is also an Investment Advisory practice that offers products and services through AE Wealth Management, LLC (AEWM), a Registered Investment Adviser. AEWM does not offer insurance products. The insurance products offered by Gregory Ricks & Associates, Inc. are not subject to Investment Adviser requirements. This article is meant to be general and is not investment or financial advice or a recommendation of any kind. Please consult your financial advisor before making financial decisions. For more detailed information, contact Gregory Ricks & Associates, Inc. 3062144 -5/25