Category: Finance

Importance and Functions of Private Client Teams

Worden Capital Management, LLC, is a New York-based full-service regional broker dealer. CEO Jamie Worden founded the company in 2009. In 2020, Worden Capital Management, LLC completed the integration of its Private Client Services Group to communicate and deal better with its clientele.

Investment companies and law firms employ private client teams for several reasons. The teams’ primary responsibility is to establish personal relationships with large clients to serve their specific needs. Generally, private client teams serve high-net-worth individuals, their offices, and their families, providing detailed insights on their ongoing financial situations.

Private client teams are also important in cases where the client has a number of complex holdings and businesses. A dedicated team ensures that they pay attention to the many nuances, challenges and changes that come with a sizable and diverse asset portfolio. In addition, private client teams have unique insights into the personal lives of clients as pertains to their financial and legal priorities; this requires a separate relationship of trust and confidentiality. Lastly, these teams collaborate with other departments in their companies to adequately take care of a client’s holdings by providing specific, need-based information when critical decisions have to be made.

FINRA Foundation Study Focuses on Those Victimized by Investment Fraud

A Garden City, New York financial planning firm, Worden Capital Management LLC (Worden Capital) provides its clients assistance with a menu of services that range from estate and retirement planning to wealth management and tax planning. A firm comprised of highly-competent advisors, Worden Capital Management LLC is also a FINRA (Financial Industry Regulatory Authority) member.

In March, an arm of FINRA, the FINRA Investor Education Foundation, reported in a study that it had isolated factors that contribute to repeated financial victimization due to investment schemes. Founded in 2003 by FINRA, the foundation was established to facilitate research and create innovative projects to provide the underserved investment tools through education.

Considered the first of its kind, the study used behavioral models to determine factors that contribute to repeated investment fraud victimization. The purpose was to look at the factors that facilitate fraud to better assist both families and individuals with interventions that can prevent them from falling victim. In collaboration with AARP, the four-phase study involved researching chronic victimization to devise evidenced-based solutions for addressing the problem.

The study also found that while fraud education is important, fraud could not happen without the cooperation of affected individuals, some who might not consider themselves victims. One suggestion was to partner with groups in the community (e.g., hair salons and churches) to connect with individuals who are repeat victims.

Worden Capital Integrates Private Clients Services into Its Platform

Based in Garden City, New York, Worden Capital Management LLC (Worden Capital) is a comprehensive financial services company that assists clients with growing, protecting, and conserving their wealth. As a financial services company, Worden Capital Management LLC services includes financial, retirement, and estate planning, and insurance, tax, and money management.

In January, the firm announced that it had integrated its new Private Clients Services group into its current offerings. A FINRA and SIPC member, Worden Capital has focused on creating a platform of highly skilled and knowledgeable professionals to assist clients via its Private Clients Services. Through this private wealth management service, Worden Capital assists clients with finding new alternatives to building wealth, in addition to creating a portfolio bespoke to the person’s or group’s financial path.

Headquartered in the Trump Building in New York City’s financial district, Private Clients Services is geared toward the investment community where clients who choose to work with the group can access the team’s insights and analysis. Worden Capital’s Peter Malone has been chosen to head this new offering, and comes to the position with extensive experience. According to CEO Jamie Worden, Mr. Malone has generated unmatched results during his time with the firm.

Taxable Versus Tax-Deferred Savings Accounts

A financial services firm based in Garden City, New York, Worden Capital Management, LLC helps investors build and manage wealth. For investors who want to maximize the return on their retirement savings, Worden Capital Management, LLC has a calculator on its website that offers insights on the effects of investing in a tax-deferred versus a taxable savings account.

Investors can accumulate retirement savings either in taxable or tax-deferred accounts. With a taxable account, investors contribute post-tax dollars into their accounts. This means that they pay tax first on their income before contributing to the savings account. However, they do not pay tax on the capital gains accumulated by their savings over time. Their savings grow tax-free, and they will not pay taxes later on their withdrawals. Examples of these accounts are Roth 401(k)s and Roth IRAs.

With tax-deferred savings, investors contribute pre-tax income. There is an immediate tax saving when they deduct their savings contributions from taxable income. This motivates them to contribute more toward long-term savings. The trade-off is that they will pay tax on withdrawals when they begin drawing from these savings in retirement. The rate charged will be that of the investor’s ordinary-income rate. Examples of these accounts are 401(k)s and traditional IRAs. To decide which account is best suited for you, consult a professional from Worden.

When Are Business Expenses Tax-Deductible?

Located in Garden City, New York, Worden Capital Management, LLC, offers a wide range of services, including portfolio management and insurance planning. On the website of Worden Capital Management, LLC, clients can find tax information and resources, including links to IRS guidelines on tax-deductible expenses.

According to IRS publication 535, business expenses must be both “ordinary and necessary” to be considered tax-deductible. “Ordinary” expenses regularly occur and are a norm in their industry. “Necessary” is often defined as helpful and appropriate for a business or line of work, but an expense does not need to be critical to operations to qualify as necessary.

Even if an expense is considered ordinary or necessary, a company still may face barriers to deducting the expense, or the company may have to deduct the expense in a certain tax year. To make sure your company maximizes its tax savings, consult an experienced financial advisor.

The Financial Investment Risk Continuum

Worden Capital Management, LLC provides a range of financial services for individuals and businesses. In addition to advisory services, Worden Capital Management, LLC publishes informative articles on its website that cover investing and financial literacy topics such as investment risks.

Investors are often advised to diversify their assets to minimize overall risk while remaining exposed to sizable returns. This is accomplished by selecting investment vehicles that vary in their risk and return potentials. The most secure and low-risk investments are known as cash alternatives, which include interest-accruing savings accounts and money market funds.

While the risk of losing principal is low, the investor can lose purchasing power due to low returns that do not exceed inflation. Riskier assets, such as stocks and mutual funds, offer higher returns that can grow wealth. The riskiest investments, which include investing in developing markets or commodities, can substantially increase the value of an investment portfolio, but the chance of losing the entire principal is also high. A financial professional can review an individual’s situation and advise how to best allocate their investments among asset classes.

Steps to Achieving Financial Goals

Established in 2009, Worden Capital Management LLC offers support structure, brokerage services, and other financial services. Worden Capital Management LLC, based in New York City, helps clients improve their long-term financial success and achieve their financial goals.

Here are some of the steps involved in reaching your financial goals:

– Be organized.

Being organized involves adequate financial management and time management. Learning about time management is an excellent way to start living a financially organized lifestyle.

– Determine the costs.

Making a plan can be difficult if you don’t know the price. Research your goals and find out how much it costs to achieve them.

– Save money.

Understand your present financial situation, track your expenses, and save accordingly.

– Invest smartly.

There is a limit to how far savings alone can go. However, when you invest your savings smartly, your financial goals become more achievable. Seeking the help of a financial advisor is a wise step.

Effective Risk Management Strategies

Offering personalized services, Worden Capital Management LLC helps clients achieve their individual financial goals. The business activities of Worden Capital Management LLC include risk management services.

Risk management helps reduce and curb the effects of risk or improve the opportunity potential. Here are a few strategies for managing business risks:

– Avoidance.

As a risk management strategy, avoidance eliminates the cause of risk. This approach may mean forgoing the task or performing it differently. Examples of this strategy include prolonging the project schedule or altering the project size.

– Transfer.

This strategy entails transferring risk to a secondary party, such as a seller or an insurer. The payment is quoted as a risk premium. Instead of eliminating the risk, the risk transfer lessens the project’s immediate impact. Insurance policies, guarantees, and performance bonds are examples of risk transference tools.

– Mitigation.

As a risk management strategy, mitigation helps decrease the chances or lessen the impact of an incident. This strategy stems from the belief that prompt action is more profitable in reducing the impact than rebuilding after an incident.

– Acceptance.

This strategy involves tolerating the risk in the absence of a reasonable approach to eradicate it. An active acceptance strategy encompasses the formulation of a contingency reserve to regain the lost resources, such as time and money. Passive acceptance entails the documentation of the risk and allowing the project members to handle the events.

Differences Between Insurance Brokers and Insurance Agents

Worden Capital Management LLC is a comprehensive financial service firm, established in 2008, that focuses on helping individuals and corporate entities manage wealth. Headquartered in New York, Worden Capital Management LLC offers a wide range of financial services, including retirement planning, asset management, estate management, and private client services. Worden Capital also offers insurance brokerage services.

While insurance brokers and insurance agents both act as intermediaries between the buyer and the insurance company, their roles are quite different. An insurance agent, also called a captive agent, represents an insurer, selling policies on behalf of that company. Usually, an insurance agent is contracted to one insurance company, though independent agents serve several companies simultaneously.

An insurance broker represents the buyer of the insurance. The broker’s role is to analyze and advise clients on possible risks they face and the insurance policies that cover those risks. The broker then purchases those policies for clients at their approval.

Design a site like this with WordPress.com
Get started