Featured Advisor
I began my career as a financial advisor with the AYCO Corporation. I then served eleven years with a Big four public accounting firm where I provided counseling services to corporate executives and other high net worth individuals. I founded Trinity Financial Advisors, LLC in late 1999. I am a registered CERTIFIED FINANCIAL PLANNER™ PROFESSIONAL and a NAPFA® Registered Financial Advisor. I am also a member of the AICPA, FPA and IMCA.
MY PRACTICE...
The financial planning strategies of corporate executives reflect widespread concerns about the political environment and prolonged economic downturn – not to mention taxes, according to Millionaire Corner research on high net worth investors from a variety of occupations.
Millionaire Corner defines high net worth investors as having $5 million to $25 million, not including their primary residence. Chief executive officers make up the largest share (18 percent) of high net worth investors, followed by entrepreneurs (15 percent), professionals (13 percent), educators (9 percent) and managers (8 percent).
Chief executive officers express the highest levels of concern over the economy and the political situation, compared to high net worth investors from other walks of life, according to a study conducted over the first quarter of this year. More than 90 percent of CEOs identify the political environment as a national concern, compared to 80 percent of high net worth investors as a whole. And, 83 percent say they are worried about the prolonged economic downturn, compared to 77 percent of high net worth investors as a whole. (The top personal financial concerns of high net worth investors involve the well-being of future generations and health care costs.)
The economy ranks as the most important issue in selecting a new president for 60 percent of CEOS surveyed by Millionaire Corner in June, and taxes emerged as the second most important issue and the biggest concern for 14 percent of CEOs. (Tax-advantaged investments feature prominently in the financial planning strategies of high net worth investors.)
These economic and political concerns appear to be shaping the financial planning strategies of chief executive officers, according to our research. Well over half (57 percent) feels it is more important to protect principal than grow investments in the current environment and less than half (49 percent) say they are willing to “take significant investment risk” in order to earn a high return on their investments.
What are some of the most important criteria currently influencing the financial planning strategies of CEOs? Chief executives officers are more likely than high net worth investors from other occupations to consider investment diversity (97 percent) and the tax implications of investments (90 percent). Risk is also one of the top three factors influencing CEOs’ financial planning strategies.
Given their economic concerns and shifting financial planning strategies, it’s no surprise that CEOs overwhelmingly prefer challenger Mitt Romney (69 percent) to incumbent Barack Obama (31 percent).
