Firm:
Intrepid Wealth Partners, LLC
Job Title:
Founder & CEO
Biography:
Hello, my friends call me Derek or DJ. Thank you for taking the time to learn more about our team and what we do. I am the Founder and CEO of Intrepid Wealth Partners, one of four companies I have been involved with.
I am married to my lovely wife Amanda. We have a 7year old son (going on 15!) Neary, and an old rescue dog, Murphy, who is a mix between a German Sheppard, Husky, and something else! We love to travel, meet new people, and try new and different types of food.
I am an American and Irish dual national, having been born in Dublin, Ireland. My son also enjoys the benefits of dual citizenship, however my wife was born and raised in Minnesota. Our travels throughout the world have taught us that most people are genuinely good and want what is best for themselves, their families, and others. We have had the privilege of meeting some great people along the way, who have helped expand our horizons, both professionally and personally.
As a Certified Financial Planner® Professional, I specialize working with Entrepreneurs, Founders, Business Owners, Startup Companies and their Families to realize their hopes, dreams & goals through the leverage of financial education and our financial planning process.
Please think of me and my team as your resource. Feel free to contact us with any questions you may have and don't forget to check out my blog, Smart & Simple Finance, to help you manage your money like you own it.
Cheers,
Education:
BA, Anthropology & Archaeology, University of Minnesota
Assets Under Management:
$50 million
Fee Structure:
Fee based, Financial Planning Fee, Commission
CRD Number:
5105881
Disclaimer:
*Derek Notman is registered as an Investment Adviser Representative, under Eagle Strategies LLC, a Registered Investment Adviser, offering advisory services in the states of WI, MN, OH, IA, MA, NY, NJ, NH, VT. As such, these services are strictly intended for individuals residing in WI, MN, OH, IA, MA, NY, NJ, NH, VT. **Derek Notman is also a Registered Representatives of and offers securities products & services collectively through NYLIFE Securities LLC, Member FINRA/SIPC, a licensed insurance agency. In this regard, this communication is strictly intended for individuals residing in the states of WI, MN OH, IA, IL, MA, NY, NJ, NH, VT. No offers may be made or accepted from any resident outside the specific states referenced. Derek Notman is an agent licensed to sell insurance through New York Life Insurance Company and may be licensed with various other independent unaffiliated insurance companies in the states of WI, MN, FL, IL, IN, MO, NV, OH, NY, NJ, MA, NH, VT, CA ( Derek's - CA Insurance Lic. 0K35010). No insurance business may be conducted outside the specific states referenced. Intrepid Wealth Partners, LLC is not owned or operated by NYLIFE Securities LLC or its affiliates. Neither Eagle Strategies, LLC, its affiliates nor Intrepid Wealth Partners or its employees provide tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional regarding your particular situation.
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Intrepid Insights Episode 1 with Matt Howard, CEO & Co-Founder of EatStreet
Hello,
Thank you for your question. Rollovers can definitely be a confusing topic to understand. Keep in mind that your Thrift Savings Plan is essentially a 401(k). Here is an excerpt from a recent article I wrote on rollover options:
"Here is a clear and simple explanation of what a 401(k) rollover is and what your options are when you leave or retire from your job. According to FINRA, people have 4 choices when they start a new job or retire:
- Leave the money in your former employer’s plan
- Roll over the money to your new employer’s plan, if the plan accepts transfers
- Roll over the money into an individual retirement account (IRA)
- Take the cash value of your account"
To read the full article please click here. Please let me know if you have any additional questions.
Best Regards,
Derek Notman
Hello,
Thank you for your question and the information you shared. Each persons (couples) financial situation is unique and should be planned for accordingly. I would suggest you start by thinking about what your hopes, dreams, and goals are. Once you have crystallized those, you could go through a comprehensive process with a CFP professional to prioritize your goals and put a plan in place to accomplish everything you desire.
It is important to find an adviser that you like, one that shares similar philosophies, one that you connect with on a fundamental level. Once you have this established, building trust and a financial plan is much simpler.
Best Regards,
Derek Notman
Hello,
This happens more often then you might think. Although the 401(k) is currently frozen, you could check with HR to review the Plan Document to see if you can do a rollover to an IRA now. The other option would be to wait until you leave the company and then consider a rollover to an IRA after separation from service is official.
Below is an excerpt from a recent article I wrote on 410(k) rollovers:
"Here is a clear and simple explanation of what a 401(k) rollover is and what your options are when you leave or retire from your job. According to FINRA, people have 4 choices when they start a new job or retire:
- Leave the money in your former employer’s plan
- Roll over the money to your new employer’s plan, if the plan accepts transfers
- Roll over the money into an individual retirement account (IRA)
- Take the cash value of your account"
To see the full article please click here.
If you have any other questions please consider me a resource.
Thank you,
Derek Notman
Hello,
Thank you for the question and sharing some of your financial situation. In general, term insurance is a great tool for a specific need, like covering debt, or to replace income from the loss of a wage earner. As life insurance can be used for a variety of things, like legacy planning or helping pay estate taxes, it would be a good idea to conduct a comprehensive financial review to see what makes the most sense for your particular situation.
Working a CFP professional would allow you to work with someone who looks at your situation in a holistic and comprehensive manner while crystallizing your goals and concerns.
Please consider me a resource if you have any additional questions.
Thank you,
Derek Notman
Hello,
Great question, and glad to see you are serious about starting to save at a young age!
In general, a Roth (401(k) or IRA) is a great tool to save some money. Your concern about not staying for 5 years is valid as many people in your age group tend to changes jobs quite regularly. Although you wouldn't be fully vested for 5 years, you still would be getting at least some "free money" by participating in the Roth 401(k). When you change jobs in the future you have the ability to then roll it over. Below is an excerpt from a recent article I wrote on what your options are for rollovers:
"Here is a clear and simple explanation of what a 401(k) rollover is and what your options are when you leave or retire from your job. According to FINRA, people have 4 choices when they start a new job or retire:
- Leave the money in your former employer’s plan
- Roll over the money to your new employer’s plan, if the plan accepts transfers
- Roll over the money into an individual retirement account (IRA)
- Take the cash value of your account"
To read the full article please click here.
Please consider me a resource if you have any additional questions.
Best Regards,
Derek Notman