Raymond Russo

Personal Finance, Retirement, Investing
“Raymond Russo, Owner of Virtuoso Capital Management, provides financial planning strategies that use existing laws and product designs, and a deep understanding of client needs and objectives to orchestrate successful planning of personal & bus. economies”

Virtuoso Capital Management

Job Title:

Owner, CEO


Ray Russo has been a successful wealth advisor for 30 years. Ray is a licensed agent for securities, life, health, and disability. He is also a licensed Investment Advisor Representative and former Real Estate Broker. In his tenure as an advisor, he was responsible for training and development of over 3,500 agents, preparing them for a career in financial services. First and foremost, Ray feels most at home in his role as a consultant/trainer/teacher. He is the CEO of Virtuoso Capital Management, a Registered Investment Advisor (RIA).

Ray is a solutions oriented financial planner and Fox Business News Online contributor who is one of the few in the industry that has not only financial services experience, but business and real estate experience as well. Ray has been an entrepreneur since he was 22 which give him a unique perspective when dealing with clients, especially those that are self-employed. His primary purpose when working with individuals, couples or businesses, is to be certain they understand all that is involved in the planning process, and how to use their assets (both tangible and non-tangible) to support their ultimate goals.

At the end of the day, that results in plans that are more thoughtful, comprehensive and in true alignment with carefully thought out objectives. Generally, Ray is always attempting to look for inefficiencies in each unique situation, be they tax, expense, income, investment or insurance inefficiencies, always with an eye toward protecting assets from an increasingly intrusive government and litigious society.

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    Annuities, Asset Allocation, Bonds / Fixed Income
Should I replace my fixed income with an annuity in my portfolio?
100% of people found this answer helpful

Many questions, all good ones, so let's cover each one:

  1. My financial planner is suggesting I replace the fixed income portion of my portfolio (about 20%) with an annuity with a guaranteed rate of 5%. She says she is concerned about the future of the bond market and interest rates. She also says that I can lock in a 5% return as well as invest in more aggressive investments with my $180K. Several thoughts come to mind. First, if you can get a 5% guaranteed return for the life of the policy, that's great, I just don't think that is possible. These rates are generally declared each year and depend on a number of factors we don't need to get into here. You may want to consider Equity Indexed Annuities which have higher interest rate potential over time. Which way you go will depend more on what gives you most comfort. When interest rates go up, principal on bonds go down, which is why she is making the case for change. Rates are going up, albeit not rapidly. What you are moving from may also be part of the equation. If you are in short term bond investments now, there will almost certainly be no affect to your portfolio, since managers just hold the bonds to maturity, thereby sidestepping losses that would occur when selling an unmatured bond in the open market. The bigger concern I have has to do with the $180,000 into more aggressive investments. I am wrestling with this myself. I am concerned that we are in for a serious downturn over the next two years, even with Trump in office. Not just my opinion. Check out James Rickards new book called, The Road to Ruin. This is quite the eye opener from a very credible source. Tough to read, but worth it. It is best at this time, even if you go more aggressively, to have a strategy that takes advantage of these down turns and be ready to implement quickly if you see it happening, and certainly own some gold no matter what. Just be ready to move quickly, and in so doing, realize that if there is even a one day significant down turn, you will likely lose money. The answer to not losing money, is an Equity Indexed Annuity. The S and P has only returned about 2.75% since 2000. Annuities have fared far better as they guarantee against loss, so there are no losses to have to come back from. Some have been historically north of 7%. Past performance is no guarantee of future results, for any investment other than those that are specifically guaranteed.
  2. This investment will also be made with my IRA funds. Can you suggest what questions to ask? I am well aware of the high commissions and fees at the beginning of the annuity term. But I would like some independent verification if this new strategy is, in fact, viable. I am a 62 widowed woman, still working full time at a good job. If you are considering moving your IRA to an EIA, be sure and get one that allows for tertiary beneficiary designations. This is a big deal and forgotten by the majority of the industry. Not all fund or annuity custodians/products allow for this, so be sure you get it. It doesn't help you, but it will help your beneficiaries greatly. With respect to fees early on with an annuity, please allow me to clarify. There are no fees in any fixed annuity going in. Since there are no sales charges going in, if you hold onto the annuity through to the end of the CDSC (contingent deferred sales charge) period, you will never pay any fees. Commissions are paid by the insurance company and are actuarially calculated. The only exception to this are optional fees you may pay for riders that are available, yet some companies are now providing these riders at no cost. There is much more to this, but for the sake of brevity, just suggest you get complete explanations of available products that best suit you. The misnomer over annuity fees come from false and misleading ads from people like Ken Fisher who regularly advertise on FOX News. Interestingly, when the research is done on Mr. Fisher, you find the major thing he sells . . annuities. It is a bait and switch operation.
January 2017
    Financial Planning, Real Estate
What is the best way to buy a new property while converting a home to a rental?
100% of people found this answer helpful
March 2017
    Financial Planning, Social Security, Peri-Retirement
Should my husband draw Social Security now at age 66 1/2?
100% of people found this answer helpful
May 2017
    Social Security, Choosing an Advisor
Why would a fee-based investment advisor need my Social Security number?
100% of people found this answer helpful
May 2017
    Financial Planning, Investing
Is my 457 deferred compensation rollover invested appropriatly?
100% of people found this answer helpful
March 2017