Robert E. Maloney

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“Robert E. Maloney is the Managing Member of Squam Lakes Financial Advisors, LLC, which he founded in 1982. Led by the needs of his clients, Bob developed the firm’s expertise in comprehensive financial planning.”
Firm:

Squam Lakes Financial Advisors, LLC

Job Title:

Chief Listener

Biography:

Bob has long been a proponent of fee-only financial planning and was a founding member of the National Association of Personal Financial Advisors (NAPFA), the leading professional association of fee-only financial advisors. He served three years as president and director of the Northeast Mid-Atlantic Region of NAPFA and led a committee to develop NAPFA University for the continuing education of fee-only financial advisors and planners. In 2011, he received NAPFA’s Robert J. Underwood Distinguished Service Award and in 2013 he was honored and recognized as one of the 30 Most Influential for meritorious service to NAPFA and the Fee-Only financial planning community.

Bob’s client base included women, retiring and retired couples, owners of closely held businesses professors at Plymouth State University. They look to Bob and his team to help articulate personal goals and develop comprehensive planning strategies for achieving those goals.

In the 14 years prior to founding his own business, Bob administered estates, trusts, and developed new business for bank trust departments. He was awarded the Master of Science Degree in Financial Services (MSFS) from the American College in Bryn Mawr, Pennsylvania, and had his undergraduate studies at Siena College in Loudonville, NY. Bob holds the Accredited Estate Planner certification from the National Association of Estate Planing Councils, a leading organization of professional estate planners and affiliated estate planning councils focused on establishing and monitoring the highest professional and educational standards for the practice.

Bob has been recognized as one of the best financial advisors in the country by both Moneymagazine and Worth magazine. Medical Economics also recognized Bob as one of the best financial planners in the country for doctors.

Financial writers have often sought Bob’s expertise in areas of personal finance. He has been quoted in the Wall Street Journal, Investment Advisor, Medical Economics, Physicians Personal Advisory and Money Magazine. Bob was also featured in Financial Planner magazine for his work as a financial advisor to women.

Bob is immediate past president and a board member of the Squam Lakes Chamber of Commerce and president of the White Pond Watershed Association. He is an active member of the Town of Holderness, NH as a member of the Zoning Board of Adjustments and the Budget Committee and a long-time participant in the “Who Can Make the Best Apple Pie Contest” in Holderness, NH.

In 2012 Bob was named as a director of Speare Memorial Hospital in Plymouth, NH and serves on its Budget Committee and its Long Range Planning Committee.

He is a member of the New Hampshire Estate Planning Council; past Chairman, President, and Director of the Connecticut Estate and Tax Planning Council; and a former President and Director of the Southern Connecticut Chapter of the International Association of Financial Planners (IAFP).

Bob is an avid hiker and fresh-water fisherman, and lives with his wife Bonnie in Holderness, NH.

Education:

BS, Finance, Siena College
MSFS, Financial Services, Bryn Mawr College

Fee Structure:

Fee-Only--Retainer Fee and Fixed Plan Fee

CRD Number:

4556149

Insurance License:

#None

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January 2017
    Asset Allocation, Estate Planning
October 2016
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January 2018
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October 2016
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    Retirement, Annuities, IRAs, Taxes, End of Life
I received money from my sister's annuity after she passed and it went into an IRA of mine; how do I transfer half of this amount to a sibling?

No, actually not. If you make any form of distribution it would first of all have to be to yourself as the owner of the IRA.  Secondly, now that you have moved the funds into your IRA, it cannot be separated without taxation to the owner, and thats you. I see what you're trying to do in an attempt to treat the distribution equally between yourself and your sibling but it simply doesn't work without taxation.  My suggestion would be to determine how much tax would be applicable if in fact you made the withdrawal and if under the age of 59 1/2, add to that a 10% tax penalty that would be applicable. Then calculate the net after-tax effect and consider the possibility of making a gift to your sibling of other funds other than the IRA. I hope this helps and good luck.

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