Russell Wayne

CFP®
Personal Finance, Retirement, Investing
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Articles
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“With more than four decades of experience as a personal financial adviser, investment manager, and investment analyst, Russell Wayne is committed to helping his clients enjoy their lives while he takes charge of their financial concerns.”
Firm:

Sound Asset Management Inc.

Job Title:

Principal

Biography:

Russell Wayne is a Certified Financial Planner and President and Chief Investment Officer of Sound Asset Management, Inc., an independent financial advisor based in Weston, Connecticut primarily serving clients in the greater New York tristate region and throughout New England.

Russell began his career with Arnold Bernhard & Co., Inc., the parent company of Value Line, Inc. Positions he held while associated with Value Line included Managing Editor, The Value Line Investment Survey; Portfolio Adviser, The Value Line Mutual Funds; Executive Editor, The Value Line OTC Special Situations Service; Business Manager, Value Line, Inc.; Portfolio Manager, Value Line Asset Management; and Director of Investment Software, Value Line Software.

From 1991 to 1995, Russell was Vice-President and Chief Investment Officer with Heine Management Group. He was also Vice-President and Secretary of the LMH Fund, Ltd. Clients for whom he has managed portfolios include Xerox, Texas Utilities, National Maritime Union, and United Cerebral Palsy Association.

Russell has been a featured guest on television, including CNN and the Bloomberg Network. He has been quoted in leading business periodicals, including The Wall Street Journal, Barron's, BusinessWeek, The Wall Street Transcript, The New York Times, and Investment News,MSNBC, and Yahoo! Finance.

Russell earned his B.A. and M.B.A. at Hofstra University. He earned his Certificate in Financial Planning from Florida State University and has pursued postgraduate studies at New York University School of Law. He is listed in Who's Who In The East, Who's Who In Finance and Industry, Who's Who In America, and Who's Who in the World. Russell has contributed to a number of published works. His latest book is Markets, Myths, and Memories, which was published in November, 2010. Russell is a proud member of the National Association of Personal Financial Advisors.

Education:

M.B.A. (Finance and Investments). B.A., N.Y.U. Law, Hofstra University
Certified Financial Planner, Florida State University

Assets Under Management:

$33 million

Fee Structure:

Asset-Based

CRD Number:

460451

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January 2017
    Financial Planning, Investing, Stocks
January 2017
    Financial Planning, Investing
April 2017
    Financial Planning, Investing, Stocks
April 2017
    Investing, Asset Allocation
3 weeks ago
    ETFs, Investing, Stocks

All Answers
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    Banking, IRAs, Senior Care
What would you recommend to do with multiple separate IRAs?
100% of people found this answer helpful

If these are traditional IRAs, they should be combined. Since your mother is 74, you need to be aware that Required Minimum Distributions begin at age 70 1/2. With six separate IRAs, I am wondering whether the RMDs have been made or overlooked. If the latter, there is a 50% penalty due to the IRS. I would check that first since it's quite serious.

Once the IRAs are consolidated, you will want to make a proper asset allocation, which will depend on other assets you mother has as well as other considerations such as need for current income. It sounds like you certainly do need an advisor for this situation. You should consider going to findanadvisor.napfa.org for a listing of those who could help in your area. That's the website for the National Association of Personal Financial Advisors, probably the best qualified people available.

November 2016
    Personal Finance
How are realized profits different from unrealized or so-called "paper" profits?
100% of people found this answer helpful
October 2016
    Bonds / Fixed Income
Why are bonds performing so poorly over the last two weeks?
100% of people found this answer helpful
November 2016
    IRAs, Retirement Plans
Besides mutual funds, what vehicle will help stabilize my funds?
100% of people found this answer helpful
November 2016
    Financial Planning, IRAs
Should I rollover my employee retirement plan?
100% of people found this answer helpful
November 2016