Worden Capital Management LLC

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.

Two Researchers from MSK Institute Receive Kravis WiSE Grants

A wealth management firm, Worden Capital Management LLC (Worden Capital) offers its clients a range of services related to tax and retirement planning, money management, insurance, and estate planning. In addition to providing clients financial planning services, the team at Worden Capital Management LLC is involved with organizations such as Memorial Sloan Kettering Cancer Center (MSK), the world’s largest cancer center that focuses on quality patient care, research, and education.

In March, MSK announced that two researchers who work for the research arm of the cancer center, the Sloan Kettering Institute (SKI), were awarded Kravis Women in Science Endeavor (WiSE) fellowship grants. MSK’s many missions include advancing opportunities for women in research and the sciences, and the Kravis WiSE grant will provide funding for these MSK researchers, while also providing mentorship opportunities.

The grant was established in 2020 to provide sustained funding for women who decide to pursue careers in biomedical research at MSK. The grant involves a stipend and other benefits, and is awarded to women graduate students chosen through a competitive process by the faculty.

This year’s recipients were SKI researchers Regina Bou Puerto and Mijin Kim, PhD. Ms. Puerto was selected for her research related to an immune molecule believed to be involved with protecting humans from viruses and cancer, and Dr. Kim developed innovative sensor technology that detects high-grade serous carcinoma. The two were honored at a virtual event held on March 17, during which they presented their research.

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.

Protecting Retirement Savings from Inflation

A dynamic wealth management firm that puts its clients first, values integrity, and takes a creative approach to investing, Worden Capital Management, LLC provides investors with tailored opportunities to build wealth long term. Some of its clients are people saving for retirement. Worden Capital Management, LLC offers them effective investment strategies that protect their purchasing power from inflation.

For people who are saving for retirement specifically, inflation reduces the buying power of their savings, meaning they have to spend more to maintain a similar lifestyle post-retirement. Consider this example. The average 10-year inflation rate from 2010 to 2019 was 1.9 percent. Assuming an investor aged 35 years and earning $50,000 a year wanted to have enough in retirement to replace at least 75 percent of their current income ($37,500). At an inflation rate of 2 percent over the next 50 years, the investor would need an annual income of $67,926 at age 65 to afford the same things he or she could afford today with 75 percent of his or her income. At age 85, the figure grows to $100,935. This example assumes inflation stays at 2 percent long term. If it goes up, the investor would need to spend more to maintain that lifestyle.

The pain of inflation bites harder for seniors because it hits certain economic segments more than others. One of these is healthcare. Thankfully, some investments can hedge an investor’s portfolio against inflation. Consult the professionals at Worden for more information.

Why You Need Professional Estate Management Services

Headquartered in Garden City, New York, Worden Capital Management, LLC is a comprehensive financial services firm that helps clients grow and preserve their wealth. To preserve wealth, Worden Capital Management, LLC offers a range of services that include estate management.

Estate management is an effective tool that you can use to control how your wealth will be distributed after death. You have already worked hard all your life and would want your assets distributed according to your wishes if anything happened to you. Effective estate management does this while minimizing the estate tax burden and safeguarding the privacy of your financial affairs.

A will is the most basic form of estate management. With a will, you can designate an executor to distribute your assets according to your wishes. If you have children, you can use the will to appoint a guardian for them, and if you leave them with some of your assets, you can appoint someone to manage this property until they come of age.

Effective estate management requires professional assistance. You may need additional estate management documents, such as a power of attorney, to give someone a decision-making authority in your final years if you become physically and mentally incapacitated. With professional assistance like that offered by Worden, you will be better placed to prepare and periodically review all estate management documentation.

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.

Private Client Services Cater to Needs of High-Net-Worth Individuals

Worden Capital Management, LLC, a full-service financial institution, is based in Garden City, New York. In 2020, Worden Capital Management, LLC announced the integration of its new Private Client Services (PCS) in Manhattan.

Located in the center of New York City’s financial district, PCS provides the local investment community with customized private client services driven by inside insights and experienced analysis. Led by Peter Malone, the PCS group is adding to the range of trusted services provided by Worden Capital Management, a member of FINRA.

Private client services often cater to high-net-worth individuals, such as celebrities and executives, who need help managing their financial affairs to free their time for other pursuits. The PCS group encompasses estate planning, tax planning, gift planning, investment management, and transactional planning to maximize cash flow. PCS advisors also assist clients with settlement negotiation during divorce proceedings or financial management of family businesses and small companies. For more information on available services, visit WordenCapital.com.

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.

MSK Announces Founding of Tow Center for Developmental Oncology

Serving the financial planning needs of a wide range of clients, Worden Capital Management, LLC, is a financial firm based in Garden City, New York. Worden Capital Management, LLC, supports many charitable causes, including the Memorial Sloan Kettering (MSK) Cancer Center.

With locations in New York City, New York State, and New Jersey, the MSK Cancer Center has been in operation for more than 135 years, making it the world’s oldest and largest private cancer center. In early 2021, MSK announced the founding of The Tow Center for Developmental Oncology (TCDO), which will unite researchers and physicians across the MSK network.

TCDO will study the mechanisms behind cancers that affect children and young adults. The goal of the collaborative research is to make ground-breaking advances in the understanding and treatment of pediatric and young adult cancers. Alex Kentsis, MD, PhD, a cancer biologist and pediatric oncologist, has been chosen to lead TCDO research efforts.

The MSK At-Home Integrative Medicine Membership Program

Headquartered in Garden City, New York, Worden Capital Management LLC is a financial firm that offers customized services to help clients grow, protect, and conserve their wealth. A member of FINRA, Worden Capital Management LLC supports organizations such as the Memorial Sloan Kettering Cancer Center (MSK).

MSK delivers world-class care to patients diagnosed with all types of cancer. The hospital has incorporated integrative medicine practices such as acupuncture, yoga, and massage therapy into its programs to boost patients’ overall well-being.

MSK also has an at-home integrative medicine membership program for patients recuperating at home. The at-home program uses video conferencing through Zoom. It features daily classes on integrative practices such as mindful meditation, cardio-strength fitness training, tai chi, yoga, and music and dance therapy. These activities have been shown to reduce pain and help patients with cancer deal with the effects of radiation therapy and chemotherapy, reduce depression and anxiety, minimize fatigue and neuropathy, and enhance muscle strength and endurance.

Cancer care specialists administer the group classes. Registered patients can attend as many classes as they like.