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Chris Schiffer

CPA, CFP®, MBA, AIF
Personal Finance, Retirement, Investing
86%
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18
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2
Articles
4
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“Chris Schiffer is a trusted financial services executive with over 20 years of experience in wealth management working with both broker dealers and registered investment advisors. As his client's Fiduciary, Chris is dedicated to helping his clients realize their goals by providing deeper and broader financial planning and wealth management.”
Firm:

AEPG Wealth Strategies

Job Title:

Executive Vice President

Biography:

Chris is a seasoned executive in the financial services industry with over 25 years of accounting, business and financial industry expertise.

Chris fosters a responsive, innovative and collaborative team environment that results in a culture of achievement and service excellence. “As our clients’ fiduciary, we sit on the same side of the table, finding the best solutions and helping them achieve their financial goals,” says Chris.

Chris received a BS in Accounting from Fordham University. He also received an MBA in Finance and International Business from New York University's Stern School of Business.

Chris is a Certified Financial PlannerTM, Certified Public Accountant licensed in New York, and holds New Jersey Life and Health Insurance licenses. Chris passed Level I of the CFA exam in December 2011.

 

Education:

MBA, Finance and International Business, New York University
BS, Accounting, Fordham University

Assets Under Management:

$890 million

CRD Number:

2875225

Disclaimer:

http://www.aepg.com/important-disclosures

All Articles
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August 2016
    IRAs, Retirement Plans
August 2016
    401(k), IRAs, Retirement Savings

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    401(k), Stocks
When can I move my company stock shares out of my 401(k) to a taxable equity account?
50% of people found this answer helpful

Generally you can take distributions from a 401k penalty free at age 59 1/2. If you take distributons prior to that you are subject to a 10% penalty (with some exeptions).  Distributions are taxed at your oridinary income tax rate for the pre-tax contributions that you made.  However, for company stock special rules apply.  The difference in value between the average cost basis of shares and the current market value of the shares held in a tax-deferred account is called Net Unrealized Appreciation (NUA) is the.The NUA is only available when the stock is originally placed into a tax-deferred account, such as a 401K(k) or traditional IRA, and is only applicable to the stock of the company for which you are or were employed. When distributing stock out of a 401(k) to a taxable account, shares of the company stock will only be charged as income on the cost basis. You can find out the cost basis from your employer. Upon selling the company stock, the NUA will be subject to capital gains tax.  NUA distributions depends on what the plan document says, generally: You must have either separated from the company, reached the minimum age for distribution, suffered an injury resulting in total disability, or you must have died.  

Ask for a copy of the plan document to find out about the distribution requirements.

 

April 2019
    Banking, Retirement, Investing
Will closing a checking account impact my credit score?
100% of people found this answer helpful
April 2019
    Debt, Real Estate, Taxes
Can I sell a house while paying off the mortgage?
80% of people found this answer helpful
April 2019
    Social Security, Retirement Plans
Should I begin collecting Social Security at age 62 when I retire or at age 67, which is my full retirement age?
89% of people found this answer helpful
April 2019
    Estate Planning, Taxes, Tax Deductions / Credits
Should I make a charitable donation to lower my tax liability?
100% of people found this answer helpful
April 2019