Integrated Financial Solutions, PLLC
Founder | President
As President of Integrated Financial Solutions; Joe focuses on tailored solutions for Business Owners and Executives. Our investment philosophy is based on award-winning academic research and when coupled with comprehensive planning, we believe it provides an effective solution to assist our clients in having a successful wealth management experience. We believe in a structured tailored approach to investing which utilizes low-cost and tax-efficient investment solutions.
Committed to retirement planning, Joe also specializes in retirement plan design and implementation. He works closely with plan sponsors to assure the retirement plan design selected fits their business’s unique needs. Today’s plan sponsors and fiduciaries are faced with many challenges. Laws and regulation changes, lack of fee transparency, conflicts of interests; IFS tries to bring clarity and provides independent guidance resulting in an integrated approach. In 2016, Joe was honored to be one of Financial Times Top 401 Retirement Advisors in the country.
During his career, Joe has earned the Certified Fund Specialist (CFS) from The Institute of Business and Finance, Accredited Asset management Specialist, (AAMS®) from the College for Financial Planning, as well as Certified Plan Fiduciary Advisor (CPFA) from National Association of Plan Advisors. He is a member of Financial Planning Association (FPA), National Association of Plan Advisors (NAPA), Financial Services Institute, (FSI), and is also a perennial achiever of the distinguished industry award of Million Dollar Round Table (MDRT).
Joe enjoys spending his time with family, friends, and being outdoors with his 2 dogs Kaiser & Chase. A sports enthusiast and avid golfer, Joe also enjoys playing softball, attending football games (particularly the Minnesota Vikings). Joe followed the Arizona Cardinals to the 2008 Super Bowl in Tampa Bay, FL. He also attended the 2009 NFC Championship Game in New Orleans to watch the Minnesota Vikings.
Assets Under Management:
Investment advisory services offered through Integrated Financial Solutions, PLLC (IFS), a Registered Investment Advisor. Integrated Financial Solutions, PLLC will only provide investment advisory services in jurisdictions where it is registered as an investment adviser or exempt from registration. Insurance products and services are offered and sold through individually licensed and appointed insurance agents. IFS does not provide legal or tax advice.
Short answer, you can't.
The funds you mentioned are in your Trust which is a Non-Qualified Account. IRA's are Qualified Accounts. You can't mix the two.
The only way you could put those into an IRA is if you were eligible to make a contribution to an IRA and purchase those funds in that account.
Yes, income received from annuity payments will be taxable. The rate or amount that is taxable vs return of principal depends on the type of annuity and if that annuity is Qualified (like an IRA) or Non-Qualified.
Qualified Annuity income will be 100% taxed.
Non-Qualified willl depending on Principal and Growth of the annuity. This is also referred to as the Exclusion Ratio. That amount will be a portion of 1) Return of Principal (not taxed-excluded) and a portion of 2) Gains (taxed). The issuing company will let you know what amount is gain vs return of principal.
It really depends on a few factors.
- Are these retirement assets (IRA) or Individual Brokerage Account?
- What is your time horizon for this investment? Is this earmarked for something like a house or retirement?
- Do I you need income from this investment?
If these are retirement assets (IRA), at 48 you have almost 20 years before you’ll need to access these funds. In my opinion, it appears you may be investing outside of your risk tolerance. If you were a client of IFS, I would first review our strategy and see if anything has changed and let you know my thoughts on your strategy. Next, I may recommend changing your allocation or moving to a more Moderate or Conservative portfolio vs investing in an annuity.
A couple things about annuities.
- It looks like they’re recommending an Equity Indexed Annuity (EIA) since there is a 5% cap. EIA have principal protection (plus), lower fees than a traditional Variable Annuity (plus); but a cap on how much gain you can participate in (negative).
- Annuities are taxed differently than stocks. They are taxed as Ordinary Income (higher) vs Capital Gains.
- Your gain is taxed FIRST before any principal (assuming Non-Qualified)
- If you take any distribution before age 59 ½, you are penalized 10% as an early withdrawal penalty (plus tax rate).
Any questions, feel free to give us a call.
No, you don’t have to move or transfer your investments just because you moved states. Your investments are federally registered (most likely).
You may even be able to keep you current advisor as long as he’s registered in your new state. If not, you can always ask to be transferred to an advisor in your new state if you want to stay with your current Broker/Dealer.
As far as taxes, your income will just be filed with your new state.
Companies may have different stock symbols for various reasons. The most common reasons are:
1) Different Share Classes. Each Share Class requires its own ticker symbol. A company may have A Shares, B Shares, etc.
2) Preferred Stock. If a company issues Preferred Stock, each variance or series (Dividend/yield, maturity, callable options) will have a different ticker symbol.