Archives: Insight

What’s New at AEGIS Financial? | AEGIScoop

Growing in Oshkosh (Video)

Click on the Image Below to see an update on our Oshkosh Office Expansion!

Forbes Recognition!

We are excited to announce that AEGIS Financial has been named a Best-In-State Wealth Advisor by Forbes Magazine for 2021! This is a prestigious national award that requires profound qualitative and quantitative research, a series of in-depth interviews, and a ranking algorithm all conducted by SHOOK Research. Requirements include the quality of assets under management, portfolio performance, service models, Wealth Advisors that exhibit “best practices”, and community involvement. We are grateful for our clients and professional partners that continue to place their trust in us every day.

New Team Member!

Lily Prodoehl

Client Services Intern

In 2020, Lily joined AEGIS Financial as a student intern majoring in Accounting and Finance at University of Wisconsin Eau Claire. She supports the team as a Client Service Intern working on special projects, helping prepare and process paperwork for clients, and maintaining our client management system and branch files. She is also mentoring with our Wealth Managers, Relationship Managers and Client Service Associates.

In her spare time, she enjoys traveling, playing soccer, and spending time with her family and friends.

Ascend

In April 2021, AEGIS Financial established a separate advisory offering branded as Ascend powered by AEGIS Financial (or, Ascend). The business line is a consumer-friendly, technology-enabled, online-only experience. The Ascend platform provides investment management services through an electronic interface and leverages world-class simplified video conferencing and messaging services across most devices.

Ascend saw an issue in the wealth management industry. People were either turning to Robo advisors to handle their investments with no personal touch or they were turned away from some financial firms because they had not built enough wealth for a full comprehensive wealth management program. These people were left to manage their money on their own, even though they may not have had the expertise.  Ascend is designed to change that. Ascend allows investors to periodically participate in virtual meetings with selected team members when they have questions that impact their investments. Ascend clients are provided with a selection of model portfolios created and managed by our Investment Committee. Ascend can be a perfect solution for those investors who desire professional management of their investments without the full suite of advanced tax and financial planning services traditionally provided to our comprehensive wealth management clients.  If you know a friend or family member that would fit well in the Ascend program, please keep us in mind.

Recent Events

Advisory Council Meeting: July 29, 2021

On Thursday, July 29th we held our Advisory Council Meeting at our Appleton office. The members got a chance to tour our Appleton Office and discussed the following topics…find out everything that has been happening here at AEGIS Financial including our office expansion, new technology, security, video and more! After the meeting we enjoyed a Timber Rattlers Game where they took on the Cedar Rapids Kernels! If you’re interested to learn more feel free to give us a call or send us an email.

New Client & Referral Event: August 1, 2021

On Sunday August 1, we held our Annual New Client Celebration for the 66 new families we are excited to serve. This year we attended a Timber Rattlers Game and enjoyed a picnic lunch with our new clients and ambassadors. Thanks to our client ambassadors for putting your trust in us and introducing these families to us. If you know of a family member or friend who is looking for financial planning advice, we would love to schedule a free consultation with them.

We are Hiring!

Do you know of somebody who would like to join our growing team at AEGIS Financial? We are currently hiring Wealth Managers, Relationship Managers, and Client Service Associates to join us! Want to know more? Visit our team page to see the details of the opportunities we have available. Applicants can submit their cover letter with salary requirements and resume to careers@aegis4me.com.  

Social Media:

Go like us on our Facebook page “AEGIS Financial” and find out what’s happening around the office! We will be posting frequently with birthdays, and important events for our team members as well as sharing some helpful articles that could help you with your finances!

Video Updates!

Bill Bowman, CPA and Mark Oswald frequently share the Investment Committee’s insights on the market and economy. These videos are emailed to you and available on our YouTube Channel “AEGIS Financial.” Be sure to like and subscribe!

Under 30 | It’s Time for Your Life Insurance Checkup

September is National Life Insurance Awareness Month, so it’s a great time to review your coverage.1

If you don’t have any life insurance, you’re not alone. Life insurance is one of those “someday” things for many people – but the cheapest time to buy it is probably today.

There are two kinds of life insurance: term and permanent. Additionally, there are three kinds of permanent life insurance: whole, universal, and variable.

How do these forms of life insurance differ, and how do you find out which type of coverage is right for you? 

The way to find out is to look at where you are in life, so that you can assess your current insurance needs. Have you reviewed your insurance lately? Don’t think you need life insurance? If so, consider the following potential factors that may make it a good idea:

*You have a spouse or partner

*You have children

*You have an aging parent or disabled relative who depends on you for support

*Your household depends heavily on your income

*Your retirement savings or pension won’t be enough for your spouse or partner to live on should you pass away

*You own a business, either solely or with partners

*You have a substantial joint financial obligation, such as a personal loan for which another person could be legally responsible after your death

In any of these circumstances, you may require life insurance. If you have coverage, changes in your life may demand an update.   

The affordability of life insurance may surprise you. Many people think it is expensive, and so often, it is not. The non-profit insurance education group Life Happens recently conducted a study about this and found that people think life insurance costs three times as much as it actually does. The reality: a 20-year term life policy with $500,000 in death benefits can cost you less than $50 a month.2,3

Life insurance is intended to help your loved ones financially after you die. The proceeds from a life insurance policy may help your spouse, partner, or family members manage finances if they have to adjust to life without your income. The death benefit may also be used to meet funeral costs and other final expenses, which may run into the tens of thousands of dollars.

Are you still unsure about buying life insurance, or do you suspect that your current insurance coverage needs to be updated? Please contact one of our team members and we will be happy to assist you in any way we can.

This material was prepared by MarketingPro, Inc. for use by AEGIS Financial.

Citations

1. Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.
2. LifeHappens.org, 2021
3. ValuePenguin.com, 2021

Under 50 | An Estate Planning Checklist

What to check (and double check).

Create a will if you do not yet have one. A valid will may save your heirs from some expensive headaches linked to probate and ambiguity. A solid will drafted with the guidance of an estate planning attorney will likely cost you a bit more than a “will-in-a-box,” but may prove worth the expense.

Complement your will with related documents. Depending on your estate planning needs, this could include a trust (or multiple trusts), durable financial and medical powers of attorney, a living will, and other items.

Review your beneficiary designations. Who are the beneficiaries of your retirement plans and/or insurance policies? If you aren’t sure, it is probably a good idea to go back and check the documentation to verify (or change) who you have designated as beneficiary.

Create asset and debt lists. You should provide your heirs with an asset and debt “map” they can follow, so that they will be aware of the little details of your wealth.

Think about consolidating your “stray” retirement and/or bank accounts. This could make one of your lists a little shorter. Consolidation means fewer account statements, less paperwork for your heirs, and fewer administrative fees to bear.

Let your heirs know about the causes and charities that mean the most to you. Write down the associations you belong to and the organizations you support.

Select a reliable executor. That person should have copies of your will, power of attorney documents, health care proxy or living will, and any trusts you create. In fact, any of your loved ones referenced in these documents should also receive copies of them.

Talk to the professionals. Do-it-yourself estate planning is not recommended, especially if your estate is complex enough to trigger financial, legal, and/or emotional issues among your heirs upon your passing.

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Under 60 | The Top 10 Retirement Planning Excuses

The Top 10 Retirement Planning Excuses

#10: “I’m too busy”

Stop procrastinating. How does the saying go? The best time to plant a tree is 30 years ago. The second best time is … TODAY.

#9:     “It’s too soon”

It’s NEVER too soon. The sooner you start planning, the better chance you stand of having the kind of retirement you want.

#8:     “It’s too late”

Think again. Even if you’ve already retired, it’s important to consider how you’re receiving income and how long it will last.

#7:     “I don’t need to”

This one baffles me. If you’re simply giving monthly to a savings account and hoping for the best, you may be in for an unpleasant surprise someday.

#6:     “I don’t have enough money to get started”

Starting small is better than not starting at all, and if you plan well, you’ll eventually have more to work with.

#5:     “My finances are a mess”

Consider speaking with a Financial Professional who can look at your complete financial picture and help you to develop a plan to make your “mess” work for you.

#4:     “The Government will take care of me”

If you’re planning to retire on Social Security alone, I would advise you to create a back-up plan at the very least.  

#3:     “Between my savings and my 401(k), I’ll be fine”

Saving for retirement without an income distribution plan could be a mistake. Have you considered inflation? Taxes? If you live to 100, will the money last?

#2:     “I don’t want to think about it”

If you bite the bullet now and put a firm plan in motion, you may not have to think about it again for quite some time.

#1:     “I don’t know how”

If you knew everything there was to know about financial planning, you’d probably be a financial advisor yourself. If you’re putting off retirement planning because you don’t know how to begin, consider speaking to a professional who does.

This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information should not be construed as investment, tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

Under 70 | Conducting Your Mid-Year Financial Checkup

With June officially behind us, it’s time to face the facts: we’re headed toward the second half of 2021. While there’s still plenty of time to enjoy the rest of summer, we encourage you to slow down and check up on your financial well-being.

Review your budget: Your spending habits likely look different now than they did in 2020, but did you adjust your yearly budget accordingly? The second half of the year can be expensive, between the holiday season and back-to-school spending. Take some time now to prepare.

Check your credit score: If you plan on moving, purchasing a car, or taking out a personal loan this year, you’ll want your credit score in good shape. Your score could have been impacted by recently accrued debt, late payments, hard credit inquiries, identity theft, and more.

Prepare for advanced tax credits: If your family is eligible, you may begin receiving advanced child tax credits in July. Families who qualify are expected to receive six installments via direct deposit or mailed check. If you anticipate getting the credit, you may want to talk it over with your tax professional.

With 2021 looking different than last year, take some time to evaluate your financial standings as we prepare for the second half of the year. Remember, we’re always here if you need assistance reassessing or working towards your financial goals.

This material was prepared by MarketingPro, Inc. for use by «RepresentativeName».

70 + Older | The Need for Power of Attorney

POAs and other advanced directives are becoming more important.

The point of the POA. A power of attorney (POA) is a legal instrument that delegates an individual’s legal authority to another person. If an individual is incapacitated, the POA assigns a trusted party to make decisions on his or her behalf. 

There are nondurable, springing, and durable powers of attorney. A nondurable power of attorney often comes into play in real estate transactions, or when someone elects to delegate their financial affairs to an assignee during an extended absence. A springing power of attorney “springs” into effect when a specific event occurs (usually an illness or disability affecting an individual). A “durable” power of attorney allows an assignee, or agent, to act on behalf of a second party, or principal, even after the principal is not mentally competent or physically able to make decisions. Once a principal signs, or executes, a durable power of attorney, it may be used immediately, until it is either revoked by the principal or the principal dies.1 

Keep in mind this article is for informational purposes only. It’s not a replacement for real-life advice. Make sure to consult your legal professional so you can better understand what type of powers of attorney is a best fit for your situation.

What the POA allows in financial terms. Financially, a Power of Attorney is a tremendously useful instrument. An agent can pay bills, write checks, make investment decisions, buy or sell real estate or other hard assets, sign contracts, file taxes, and even arrange the distribution of retirement benefits.

Advanced healthcare directives: HCPOAs and Living Wills. Some illnesses can eventually rob people of the ability to articulate their wishes, and this is a major reason why people opt for a Health Care Power of Attorney (HCPOA) or a living will. There are differences between the two.

A Health Care Power of Attorney (also called a “healthcare proxy”) allows an agent to make medical decisions for a principal, should they become physically or mentally incapacitated. A living will gives an assignee similar powers of decision, but this advanced directive only applies when someone faces certain death. The assignee has the authority to carry out the wishes of the incapacitated party. 


Would you like to learn more? It may be time to meet with an attorney who specializes in these issues. You can find one with the help of an insurance or financial professional who has assisted families with legacy planning.  

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Citations
1. AgingCare.com, August 23, 2021

Aurora’s Retirement Plan Changed

If you are struggling to figure out how your Aurora retirement account changed or how to access the funds, please read on, the team at AEGIS Financial can provide help…

Background

As a result of Aurora Healthcare and Advocate Health Care’s merger, changes were made to the employee retirement plan. Participant contributions are now only allowed into the new Advocate Aurora Health 401(k) plan, and Aurora’s 403(b) was eliminated. At the time, Advocate Aurora employees needed to decide what to do with their 403(b) account.

Options

What happened to your 403(b) depends on your employment status at the time of the transition in September of 2020.

  • Former employees: If you were not employed by Aurora as of September of 2020, then the balance of your 403(b) was automatically rolled over to an Individual Retirement Account (IRA) with Millennium Trust.
  • Current employees: If you were employed at the time of the transition and were eligible for the Advocate Aurora 401(k) plan, and you did not make an election, then your 403(b) was automatically transferred to the new 401(k) plan.

What about my Pension? If you were employed by Aurora prior to 2012, you may have been eligible for the pension plan. The pension plan was unaffected by this transition. The Aurora pension was frozen in 2012. When you leave (or left) Aurora, you will likely receive a breakdown of eligible options for your pension, including the option to take a taxable lump sum distribution, roll a lump sum distribution to an IRA, or leave the funds in the pension to begin the pension payment at a later date.

Action Items: Next steps for you will vary by your individual situation, but likely will include the following:

  • Locate where your account was transferred to. 
  • Determine how it is invested. 
  • Determine the best course of action for where to take your account.

Fortunately, our team of Wealth Managers have experience helping both current and former Aurora employees. We will look at your options as a part of your overall financial plan and offer advice that is tailored for you individually. 

We pride ourselves in always giving advice which benefits you, the client, first and putting your interests before ours. If there is someone you care about who needs unbiased client-first advice, please feel free to refer them to the wealth managers at AEGIS Financial.

AEGIS Cares | Quarter 3 & Quarter 4 2021

AEGIS Cares Q3 Giving Plan

Did you know that there are many children right here in our community that do not have a bed to sleep in at night? Sleep in Heavenly Peace (SHP) is an organization that has been addressing this problem in our community and many others.

For our Quarter 3 Giving Plan we partnered with SHP and collected bedding and monetary donations as well as participated in helping build 40+ beds for the Fond Du Lac Community! The build took place on Saturday, October 23rd and a majority of our team worked hard and got dirty! See the pictures below!

AEGIS Cares Q4 Giving Plan

For our Quarter 4 Giving Plan we will be donating turkeys and hams to Father Carr’s of Oshkosh and St. Joe’s Food program of Menasha for Thanksgiving and Christmas. We will also be adopting a family from both Winnebago and Outagamie Counties for Christmas! The program consists of helping families in need receive a Christmas Dinner, gifts, and other necessities for the season. In the near future, we will be sending out a newsletter with more details on how you can help too. Stay tuned!

If there are any organizations or causes that you would like us to support, please call Courtney Krell at (920) 233-4650 or email her at courtney.krell@aegis4me.com

 

What’s New at AEGIS Financial

Please help us welcome our newest team members!

Amanda Ross – Senior Compliance Associate

Amanda Ross brings over 11 years of industry experience in assisting financial service companies in the development and ongoing support of their compliance teams. At AEGIS Financial, Amanda’s responsibilities include the day-to-day regulatory oversight of advisors, supervision of accounts and transactions, and compliance with the US Securities & Exchange Commission and related securities rules and regulations.

Amanda joins our team as a Senior Compliance Associate. She has an associate degree from the University of Wisconsin and holds a number of insurance and securities licenses. Prior to joining AEGIS Financial, she has served similar roles with Packerland Brokerage Services and SII Investments.

Amanda lives in Kimberly with her two children, Scarlett and Avery. She is an active member of her church and enjoys hiking, reading, attending the theater, and spending quality time with her children. In addition, Amanda spends any additional free time, if she can find it, on home improvement projects.

Elissa Reed – Relationship Manager

Elissa is responsible for participating in client meetings, transcribing notes for the meetings, processing all the necessary paperwork to maintain client accounts and providing exceptional customer service of all investment accounts.

Elissa joins our team as a Relationship Manager. Elissa graduated from UW-Green with a Bachelor of Arts degree in Communications and a minor in Human Development and proceeded to obtain her insurance license. After working in the insurance industry for a few years, she entered the financial industry at a different firm before coming to AEGIS.

Elissa resides in Kimberly with her husband Chuck and their 2 cats, Zeke and Exy and 2 dogs, Mack and Macie. In her spare time, she enjoys traveling, reading, cooking, baking, boating during the summer, and spending time with family and friends.

Exciting News for the Madell Family! We Bid You Farewell

Elissa will be taking over the responsibilities of Relationship Manager, Mariah Madell. We are delighted to share that Mariah will have the opportunity in early 2022 (February/March) to step away from the firm to follow her values of raising their newborn baby. Mariah cherishes every relationship she has built through her years of working at our firm.

We are thankful for the 5+ years of her dedication and hard work to the firm and wish her all the best in this next chapter with her family.

Ascend

The Ascend platform provides investment management services through an electronic interface and leverages world-class simplified video conferencing and messaging services across most devices.

Ascend saw an issue in the wealth management industry. People were either turning to Robo advisors to handle their investments with no personal touch or they were turned away from some financial firms because they had not built enough wealth for a full comprehensive wealth management program. These people were left to manage their money on their own, even though they may not have had the expertise. Ascend is designed to change that. Ascend can be a perfect solution for those investors who desire professional management of their investments without the full suite of advanced tax and financial planning services traditionally provided to our comprehensive wealth management clients. Our clients have loved recommending their children or grandchildren to our Ascend program to get them started with investing at a young age. Our clients also love the streamlined options for young busy professionals, without sacrificing performance or professional insight. If you know a friend or family member that would fit well in the Ascend program, please keep us in mind.

Recent Events

Quarter 3 Professional Development Day – October 21, 2021

On Thursday in the morning the team got together and discussed growth strategies, common processes to be more efficient, compliance topics, event ideas, and more. In the afternoon, we had a little fun team bonding and headed to Appleton Axe Throwing! There, we threw a lot of axes and showed our competitive side. We even had a tournament and Mike Villeneuve was our reigning champion! See the pictures below.

Veterans Day – November 11, 2021

On Thursday, November 11 we will be hosting our first annual Veterans Day Breakfast at the UWO Family Culver Center. This breakfast will be held from 8:00 AM – 10:00 AM and will include two speakers from the 9/11 Memorial and Education Center of Kewaskum. They will be speaking on the 20th anniversary of the attacks and much more! Have you RSVP’d yet? If you haven’t or if you have any questions, you can reach Courtney at 920-233-4650 or courtney.krell@aegis4me.com. We hope to see you there!

We are Hiring!

Do you know of somebody who would like to join our growing team at AEGIS Financial? We are currently hiring a Client Experience Concierge either part time or full time to join us! The Client Experience Concierge assists in reception tasks, taking phone calls, provides exceptional customer service, and helps with a range of projects and tasks in the office. Want to know more or apply? Click HERE.

Social Media:

Go like us on our Facebook page “AEGIS Financial” and find out what’s happening around the office! We will be posting frequently with birthdays, and important events for our team members as well as sharing some helpful articles that could help you with your finances!

Video Updates!

Bill Bowman, CPA and Mark Oswald frequently share the Investment Committee’s insights on the market and economy. These videos are emailed to you and available on our YouTube Channel “AEGIS Financial.” Be sure to like and subscribe!

A Plan for All Seasons | Fall 2021

Make the most of Medicare’s Open Enrollment Period

Medicare’s open enrollment season is upon us. That means from now until December 7th, you are able to make changes to your Medicare Advantage and prescription drug coverage. If you’re happy with your coverage, you don’t have to do anything. Even if you’re satisfied, open enrollment presents a great opportunity to make sure you’re getting the most out of Medicare.

Here are some tips to help you get started.

  • Ask yourself some important questions: Have your needs changed? Is your current coverage adequate? Will the cost of your current plan be going up? Are there comparable, lower-cost plans available?
  • Review the annual notice of change from your current plan provider. You should have received this in September.
  • Compare plans using medicare.gov’s Medicare Plan Finder.
  • Get one-on-one assistance from the State Health Insurance Assistance Program.
  • Call the Medicare Rights Center at 800.333.4114 for free counseling.

Medicare decisions can be complicated, but with the right tools and information they don’t have to be. Raymond James is partnered with HealthPlanOne to provide you with personalized service, unbiased advice and additional support from a dedicated licensed agent. There is no cost to use HealthPlanOne’s services, and those services don’t end after enrollment. Your licensed agent will continue to provide support throughout the lifetime of your enrollment for coverage questions, appeals and plan renewals.

To learn more about HealthPlanOne, call the dedicated Raymond James number at 844.269.2646 or go to https://www.hpone.com

If you have any questions about open enrollment, or if you’d like to discuss how healthcare costs factor into your overall financial plan, please contact your Wealth Manager or Relationship Manager.

AEGIS Financial and Raymond James are not affiliated with HealthPlanOne.

The Social Security Administration Announces 2022 COLA

5.9% is the biggest COLA increase in decades.

On October 13, 2021, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 5.9 percent cost-of-living adjustment (COLA) for 2022, the largest increase in four decades. This adjustment will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2022. Additionally, increased payments to more than 8 million Supplemental Security Income (SSI) beneficiaries will begin on December 31, 2021.1 

Biggest COLA Increase in Decades? While many predicted a bump of as much as 6.1% given recent movement in the Consumer Price Index (CPI), the announced 5.9% increase is still substantial. Some fear that rising consumer prices may dilute the impact of the increase with inflation currently running at more than 5 percent. While this remains to be seen, Social Security beneficiaries will no doubt welcome the largest adjustment in many years.1

How You Will Be Notified. According to the Social Security Administration, Social Security and SSI beneficiaries are usually notified about their new benefit amount by mail starting in early December. However, if you’ve set up your SSA online account, you will also be able to view your COLA notice online through your “My Social Security” account.1 

Next Steps? If this increase surprises or concerns you, it’s always a good idea to seek guidance from your Wealth Manager about changes to any of your sources of retirement income.

Want to Learn More? Go to https://www.ssa.gov/cola/

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Citations
1. SSA.gov, October 13, 2021