Affinity Wealth Managment, LLC.
Michael Sicuranza, CFP®, AEP® is an award-winning wealth advisor who is currently President and Sr. Financial Advisor with Affinity Wealth Management, LLC.. He focuses on providing comprehensive wealth management solutions to medical professionals, small business owners, and affluent families in the Delaware Valley. Together with his partners, he helps clients address their five biggest concerns: preserving wealth, mitigating taxes, providing for heirs, protecting assets, and giving to charitable organizations.
Michael has dedicated his entire career to the financial planning profession. Starting fresh from college in 1995, he joined American Express Financial Advisors (now Ameriprise), then spent five years as a sole practitioner. Building on his success, he went onto co-found IM&P in 2002, where he worked for seven years. In 2009, he honed his practice philosophy and co-created a new business model: Milestone Wealth Advisors, Inc. from 2009 until 2017.
For the last decade, Medical Economics Magazine has recognized Michael as one of the top financial advisors for doctors in the country. He has won other awards (please see the awards section below).
Michael is an active member of the community. He has been published in national and regional business publications, and was selected as a 2011 fellow for Leadership Delaware; a competitive, prestigious leadership development program.
BS, Economics, University of Delaware
Assets Under Management:
©2017 Affinity Wealth Management, LLC. - All Rights Reserved Affinity Wealth Management, LLC. is a Registered Investment Advisor.
My first suggestion would be to turn off the television when it comes to investing. No one on TV knows where the bond, stock, or any other market is going. Talking heads tend to be talking "their book" meaning how they are positioned. Networks are in the business to increase advertising dollars and not give sound financial advice. My second suggestion is stick to whatever investment process your believe in no matter what the market cycle is. Most investors tend to make their biggest mistakes by being fearful when they should be greedy and greedy when they should be fearful. So if you are a buy and holder, buy and hold. If you are trend follower, follow the trends. If you don't have an investment process, my third suggestion is to hire a financial advisor that has an investment process that matches your goals and personal thoughts on investing.
Unless you like paying high fees and having a surrender charge on your money, then I would say no. Annuities are great for the sellers of them, but usually are not the best for the purchasers.
My first question would be, why go with an institution that does not have to put the best interest of their clients first at all times? Would you go to a doctor who didn't/wouldn't take a Hippocratic oath. Look for a Registered Investment Advisor in your area. They will act as a fiduciary and are obligated to act in your best interest and disclose any conflicts. Sales people at Chase or Wells Fargo are under no obligation.
- Surrender charges
- If after tax money, turning capital gains tax rates into income tax rates.
- Lack of disclosure of commissions paid out.
- Questionable sales techniques and misuse.
- Conflicts of interests for most of those who sell them.
Under the scenario you described in your question, yes that is correct. My suggestion would be not to trade options until you have a better understanding of the pros and cons and also how each type of option works. There are lots of different classes out there that are really good.