Martin A. Smith

CRPC®, AIFA®, RPS®
Personal Finance, Retirement, Investing
93%
Helpful
29
Answers
4
Articles
29
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“With over 20 years of experience in the financial industry, Martin A. Smith is committed to providing retirement planning and portfolio management solutions to business owners and individuals.”
Firm:

Wealthcare Financial Group, Inc.

Job Title:

President, Retirement Planning Financial Advisor

Biography:

 Martin A. Smith founded Wealthcare Financial Group, Inc.™ as a retirement planning and investment management firm. He is committed to providing each client with values-based advice and custom-tailored service. Thus, the need for prudent advice and high quality service is also the basis for his business philosophy; “How much better it is to get wisdom than gold! And to get understanding is to be chosen rather than silver!” Proverbs 16:16

 As a MD Fee-Only Financial Advisor, Martin is able to serve the unique needs of high net worth individuals and family offices with more breadth and depth than what is traditionally offered by wealth managers through his firms proprietary Wealthcare Financial Plan. Martin has completed a M.A. in Commercial Real Estate Finance at Georgetown University. In addition, he has completed several financial planning designations: the Accredited Investment Fiduciary (AIF®) and Accredited Fiduciary Analyst (AIFA®) designations, as administered by Fiduciary360 and awarded by the Centre for Fiduciary Studies (CEFEX).

 In addition, Martin has earned the Retirement Planning Specialist (RPS®) certification, upon completion of the “AT RETIREMENT®” coursework; an educational program that was jointly sponsored by The Executive Education Department of The Wharton School of the University of Pennsylvania, and AXA Equitable, Inc. He has also earned the Chartered Retirement Planning Counselor (CRPC®) designation from the College for Financial Planning in Denver, CO.

 Martin makes regular media appearances, having been a guest on News Channel 8, NBC Universal Channel 4, WTOP Radio News & Business and CBS Radio. In addition, he has been invited to teach a series of financial management educational seminars for the NBA Development League. In an effort to bridge the financial literacy gap, as well as provide ongoing personal finance education, Martin writes for Answers About Wealth™, which serves as the blog for Wealthcare Financial Group, Inc.™

 Martin earned his Bachelor of Arts Degree in Legal Communications, from Howard University in 1992. He later joined A.G. Edwards & Sons as a Financial Advisor and was later promoted to the position of Assistant Branch Manager. Martin resides in Bowie, Maryland with his wife, Walida. Together, they have seven children.

Education:

BA, Legal Communications, Howard University
MPS, Commercial Real Estate Finance, Georgetown University

Assets Under Management:

$13 million

Fee Structure:

Annual percentage based on assets under management.

CRD Number:

2677840

Insurance License:

#Life and Health

Disclaimer:

Wealthcare Financial Group, Inc. is a Registered Investment Advisor. Answers about Wealth is a personal finance blog, written by Martin A. Smith. Wealthcare Financial Plans is a Trademark of Wealthcare Financial Group, Inc.

Videos
  • Martin A. Smith
  • Martin A Smith Shares 5 Tips for Overcoming Your Money Fears, on the News Talk Live
  • Martin A. Smith Discussing "Financially Cramming for College", on NewsTalk 8.
  • On News Talk Live Discussing "Major Retirement Planning Mistakes", on News Channel 8
All Articles
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May 2017
    Retirement, Retirement Living
April 2017
    Debt, Personal Finance
February 2017
    Income Tax, IRAs, Retirement Living, 401(k)
February 2017
    Long-Term Care Insurance, Retirement Living, Retirement Plans, Retirement Savings

All Answers
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    401(k), Annuities, Peri-Retirement
Should I transfer 401(k) funds into an annuity?
100% of people found this answer helpful

Thank you for submitting your question. I would be careful about transferring funds into an annuity. On the surface, nothing is inherently wrong with annuities. However, "purpose" is key! You want to understand what the benefits of owning an annuity are, as well as some of the pitfalls, such as those hefty surrender fees that would be assessed against your principal if you need to take a withdrawal that exceeds the usual annual 10% free withdrawal option.

Before suggesting that anyone transfers 401(K) assets into an annuity, any financial advisor worth his/her license and title should seek to learn the following about you:

  1. What are your income needs?
  2. What are your expenses?
  3. How soon will you need to start withdrawing income from the annuity?
  4. Does the funds that you are considering transferring to an annuity meet your future withdrawal needs, assuming that you receive a modest return, such as 5%?
  5. Do you need a "bonus" added to the initial premium that you are considering paying to set up the annuity (the "bonus" usually increases the "income base" of the annuity for withdrawal purposes)?
  6. Have you done adequate estate planning with the assistance of an attorney (before committing funds to an annuity, it would be best to complete your estate planning, e.g. Will, Living Trust, etc.)?
  7. When will your other $250K annuity be free of surrender charges penalties?

I always caution investors about buying an annuity because they have been the subject of many controversial financial product sales for many years. Again, you should consider what your needs are and ask yourself if an annuity is best suited to help you achieve whatever it is you are seeking to accomplish? You should also ask yourself if your goals can be achieved with a well managed investment portfolio?

I hope this helps. Please do your research, speak with a few different financial advisors, and try to gain as much objective advice as possible before making a final decision.

Take care and I wish you the best!

Martin

April 2017
    Retirement, 401(k), IRAs
What could I gain from rolling over a 401(k) into an IRA while already in retirement?
100% of people found this answer helpful
April 2017
    Personal Finance, Real Estate, Lifestage Based Planning
What are my financing options with a foreclosure history?
100% of people found this answer helpful
March 2017
    Stocks
What causes the volatility of a particular stock?
100% of people found this answer helpful
March 2017
    Personal Finance, IRAs
Is my advisor financially liable for distributing funds from the wrong account?
100% of people found this answer helpful
February 2017