Anchor Capital Management, LLC
President & Managing Member
Anne Chernish is Managing Member of Anchor Capital Management, LLC, an SEC Registered Investment Advisor. Anchor Capital Management, LLC, is a small client-centric firm working closely with individuals, couples, families and multi-generation families, and small institutions to plan the accumulation and management of wealth to meet long term plans and objectives. Anne and the Anchor team works from their offices in Ithaca, New York, and serve clients throughout the United States. Anchor operates on a fee-only basis: financial planning services are offered for a quoted price and investment management services are recognized as a percent of assets under management. Anne herself has been serving Ithaca clients since 1989, and has more than 40 years' experience in the securities industry.
Anne's clients look to her for fiduciary advice regarding retirement, estate planning, charitable and comprehensive financial planning. She is a pioneer in wrapping financial planning services with portfolio management to create the wealth management service she currently provides. Anne specializes in serving as a fiduciary for individuals and high net worth individuals, primarily retirees, pre-retirees and people in transition. She has been quoted and referenced in The Journal of Financial Planning; Ithaca Journal; New York Post; Long Island Newsday; Reuters; and San Francisco Chronicle among others.
Anne is a graduate of Notre Dame de Namur University in Belmont, California. She is a Certified Financial Planner™ (CFP) and a qualified New York State Life Insurance Consultant. Anne is in good standing with the CFP Board and NAPFA. She served as the executive assistant to one of the pioneers in personal wealth management and financial planning and has been licensed as a broker-dealer principal by the Financial Industry Regulatory Authority (FINRA). As a holder of the CFP® designation, she actively participates in continuing education opportunities. Earlier in her career, Anne worked at major stock brokerage and financial planning firms.
BS, Business Administration, Notre Dame de Namur University
Assets Under Management:
As long as you keep the funds separate, a current or future spouse is not entitled to receive it. It is an inheritance; not property earned during the marriage.
Yes, plus you may have additional value from paid up additions which increase value over the face amount.
A spouse who inherits an IRA rolls it to their own IRA and it is treated as their own. When a non-spouse inherits an IRA, the rules change. They may take out a lump sum; over 5 years or in a stream of payments over their actuarial lifetime. The US Treasury supplies a formula and it is advised that a non-spouse beneficiary seek competent financial counsel to ensure all laws are complied with to avoid penalties. Tax laws may change, especially those regarding inherited non-spouse IRA's.
If your $1.4 million is already in an IRA or pension plan, you may roll it to a Traditional IRA. If not already in an IRA or pension plan, you are limited to a contribution of $5,500 plus $1,000 if you are over age 55 - the contribution rules for the IRA would apply. That answers the portion of your question that concerns ownership registration of your account.
If your $1.4 million is held in individual or joint name with your spouse, you may sell the stocks, pay capital gains tax on any gains, and move to bank accounts or I would suggest a CD or bond ladder of short to medium term. If you are eligible to roll to an IRA, the same investment options are available within the IRA.
Before you do any of this, I suggest you consult with a financial advisor about your comment "not risk it to losses." Inflation and loss of purchasing power become bigger risks if you move to 100% safe. I always advise, when in doubt, do half. Perhaps you could become comfortable with 50% in laddered fixed income choices combined with equity income. This would still be a conservative allocation and is more likely to keep you up with future inflation. I believe the latter is not only suitable, but also prudent.
If you don't know the answer to this, consult with a professional about the prudent use of margin.