Bohemia, NY (PRWEB) October 03, 2013
Hobart Financial Group, a leading wealth management firm, discusses an article published by The Street detailing a new survey, which found that many financial advisors are “flying blind” when determining if clients are able to generate sustainable income for retirement.
According to The Street article published on September 27 titled “Are You ‘Flying Blind’ on Retirement Income Planning?” advisors have different ways of computing retirement income, but most don’t know if their clients will meet retirement income goals. A new survey conducted by Russell Investments found that 35 percent of advisors judge income potential “on asset balances remaining after projected distributions.” Only 15 percent of advisors admit to researching more detailed ways of projecting assets against liabilities, the article says.
With a great diversity in forecasting strategies for potential retirement income generation, it’s no surprise that over half of advisors “wish they had more planning and implementation tools for retirement income planning.” The article says the study reveals the need for a better evaluation of investments, savings, debt and spending needs.
Chris Hobart, CEO of wealth management firm, Hobart Financial Group, confirms that there is a lack of knowledge among advisors, which leads to poor investment and fund management decisions. “At Hobart Financial Group, we take wealth management and retirement planning seriously,” he says. “We look at all aspects of your financial history to accurately map out your financial future. That’s the most important thing—planning for your future.”
Hobart says the most accurate wealth management plans for retirement income also look at asset accumulation and protection. “Your investments are one of the main focuses when planning for retirement, so we make sure you're investing in products that return steady, spendable income,” he says. “However, we also account for unexpected debt and spending to help clients better project how much money they will be able to generate before and during retirement.”
Hobart Financial Group is an independent North Carolina financial advisory firm dedicated to personalizing service with uncompromising integrity. Its focus on comprehensive, tax-advantaged plans help to provide sound preservation of capital, growing income and increased returns with reduced risk. Chris Hobart, founder of Hobart Financial Group, understands that true wealth means being able to share your life with the people you love, free from financial anxiety. Hobart Financial helps Carolinas’ retirees preserve and protect their wealth with comprehensive financial retirement planning and wealth management.