Brandon Opre, Financial Advisor and Founder of TrustTree Financial, is a boutique RIA firm in South Florida which services clients nationwide.
Brandon helps his clients plan and pave the way towards financial freedom. By breaking down a client's financial goals down into doable steps, Brandon can help take the uncertainty out of planning for their financial future. Brandon has 20 years of experience working as a financial advisor, working for other companies such as Ameriprise, Morgan Stanley and Charles Schwab.
Brandon is also very active in the community. He is the Founder & President of The Unforgettable Prom Foundation, Inc. a 501(c)3 charity which seeks to provide hope, strength, and inspiration to teenagers with cancer by providing the *ultimate* prom experience. Brandon was recognized in Fort Lauderdale Magazine, January 2013, as "The 40 Under 40" - movers and shakers under age 40 who are helping shape a better Fort Lauderdale.
Brandon has volunteered with several organizations including Take Stock in Children, Penn State Alumni of Fort Lauderdale, and the Broward Center for Performing Arts. In his spare time, Brandon enjoys time with his wife, two young daughters, and rescue dog Maxwell. He also has an active lifestyle including mountain biking, basketball, golfing and snowboarding.
BS, Finance and Economics, Penn State University
MBA, Business Administration and Management, Florida Atlantic University
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My follow-up to you would be: tell me more about your "advisers". Their role, their company, or their strategies could help explain their rationale. But my first instinct would be this (especially if they are compensated on commission): many companies reward/recognize advisers who had "the best month" in terms of sales and commissions. So it's possible that your advisers are looking at the calendar and thinking "I need to make some moves to increase my commissions". Wire houses specifically will have monthly sales meetings, where the top advisors are listed in a Top 10 format on the overhead projector and given small gifts for their "hard work".
If you are not referring to a wire house or commisionable agents, then they might be using a strategy that involves systematic trading. If you are leary, compare them to an adviser who is paid a flat rate (or is not incented to make trades). If it were me, I would press them further - ask them directly.
Thanks for the question!
As mentioned above, the legal definitions are pretty straight forward: the ex-date is two days prior to the record date. So if you WANT the dividend, you need to be an owner the day BEFORE the ex-date. Many people use the term "trading ex" which means the time has already passed to get the dividend - so if a stock is "trading ex", that means you can buy it but will not get that current period dividend. And the stock may be trading lower (hypothetically by the amount of the dividend) on the ex-date.
Hi, the short answer is yes...but the bigger question is WHY WOULD YOU WANT TO? It essentially will trigger an immediate tax event, which is really unavoidable when you take a withdrawal from an IRA, and will only make sense if you need to cash out and use the money. It's not really called a rollover though, it's an IRA distribution. In general, if you didn't need the money to live on or buy something immediate - I can think of very few reasons why you would want to execute such a transaction. Call me for specifics....
While I am not a tax advisor, in general you can move your IRA to an IRA at a new company with no tax consequence. You would only face potential tax consequences if you took physical possession of the funds.
It depends. I would say it comes down to working with a person, or firm, that you feel comfortable with and can trust. Fees are just one component, but there are many other factors to consider as well. The grass isn't always greener, so take your time and evaluate a few different options before making a move.