Comprehensive Wealth Management Group, LLC
Owner and Founder
Allan Katz strongly believes that his main focus is to help clients discover and work toward their financial goals. As a Certified Financial Planner (CFP®) and completely independent financial advisor, Allan takes a fiduciary perspective to all of his work with his clients.
Allan has been licensed for over 25 years and has owned his own practice, Comprehensive Wealth Management Group, LLC, for over 14 years and counting. Before beginning his own firm, Allan worked at as a Financial Advisor for the United Nations Federal Credit Union as an investment advisor. After a few disagreements with management regarding how to best help clients work toward their financial goals, Allan realized that it was time to go independent. To this day, Allan views this as one of the best decisions he has made in his career.
Allan’s specialties include college financial aid planning, retirement, estate planning, and Medicare planning. His firm is committed to utilizing all of their resources, education, and hard work to help clients work towards their goals. Each client and family is treated individually, as his firm believes that tailoring each plan is crucial to preserving wealth.
Upon receiving his Bachelor of Arts of Arts Degree in Economics from the State University of NY at Binghamton, Allan commenced his rewarding and challenging career in the Financial Services Industry. His career path has helped him to build a base of education, knowledge and experience that enables him to guide clients through the complex financial world and empower them to achieve their financial goals.
Allan is a dedicated Financial Planning Association (FPA) member and is keen on providing pro-bono planning and engaging in speaking opportunities on behalf of the FPA. He is also dedicated to giving back to his community and is currently a member of the Board of Managers of the Staten Island YMCA and President of the Board of Directors of the Staten Island Alzheimer’s and Dementia Foundation, just to name a few of his charitable endeavors.
Allan's office is located at 243 Main Street Staten Island, NY 10307.
BA, Economics, SUNY Binghamton
BA, Economics, NYU
Securities and Investment Advisory Services offered through Royal Alliance Associates, Inc., Member FINRA/SIPC. Financial Planning Offered through Comprehensive Wealth Management Group, LLC., a Registered Investment Advisor and Separate from Royal Alliance Associates, Inc.
I find that my best clients are those who take an interest in their investments and want to be part of the process. I am not sure why your advisor won't share this information with you. I always explain investment recommendations to my clients so they understand the process better. I don't expect them to gain the knowledge that I have, but the results are better when the client at least has a basic understanding as to why we are doing what we are.
Many banks will allow for a 15 or 20 year term. Shorter terms may mean a slightly lower interest rate. It would be worth it to do if you plan on staying a long time and if the cost of doing so isn't too high. Depending where you live there could be mortgage tax and there are always fees like application, title insurance, attorneys, etc. If you can get a large enough rate reduction it could be worth it to do. I would start by asking your bank if they are willing to modify or if they have a program to reduce the rate without the cost of a re-fi.
You may want to consider a ROTH IRA if you have income that you can put away until retirement. Although this will not be a tax deduction as you contribute, the growth will be tax deferred and as long as you hold it until age 59 1/2, distributions will be tax free. Also, meet with a financial planner to make sure you are investing as appropriately as possible for your situation.
THe first thing you need to do is determine what some of your financial goals are. Some are long term, some shorter. I would think some needs to go toward retirement, and some may need to go toward things like a first home, getting married, etc. Once you figure out what is important, you can begin to figure out what vehicles to use to best get you there.
ETF's would be considered a liquid asset in teh sense that they can be sold on the exchange at any time, for the most part. Like any stock some may be more liquid than others, so I would check on things like average daily volume. If there isn't much volume, a sell order could cause the ETF to drop in price as you try to sell it. Of course, even though it can be sold at any time, there is the possibility that when you need to sell that the value may be less than the amount you invested. THe possibility of loss would lead many to say a particular ETF is not that liquid. This would depend on volatility and market conditions.