Daren Dearden

Series 65
Personal Finance, Retirement, Small Business
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62
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“As a Financial Advisor, Daren Dearden has been able to practice his analytical and quantitative skills developed through his studies and work experience, as well as apply the teaching and people skills he learned from his time as an educator.”
Firm:

North Capital, Inc.

Job Title:

Director

Biography:

As a Director at North Capital, Daren's primary responsibilities have included developing the firm's international partnerships, and assisting with the launch of North Capital's own robo-advising platform, Evisor. Daren is also responsible for new-client outreach, as well as maintaining current client relationships, including their portfolio management and planning needs.

What Daren likes best about working in financial services is the combination of people and quantitative skills that is required. As a financial advisor, Daren gets to use his aptitude and interest in math, as well as apply his teaching background, and people skills on a daily basis. This fulfillment drives Daren when he is at work. In his current position, he is fortunate to be surrounded by such qualified individuals whom he learns from every day.

Prior to joining North Capital in 2014, Daren taught in Canyon's School District and at the University of Utah. Daren earned his BA in Spanish Education with a minor in Business Management, and subsequently his Master of Science in Finance, both from the University of Utah. He holds a Series 65 License.

Education:

MS, Finance, University of Utah
BA, Spanish Education, University of Utah

Assets Under Management:

$50 million

Fee Structure:

Fee Only

CRD Number:

6449890

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  • Introduction - Daren Dearden, North Capital
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September 2017

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    Retirement Plans
How does a defined benefit pension plan differ from a defined contribution plan?
67% of people found this answer helpful

Defined benefit pension plans are becoming far less common, due to the high cost to employers. Generally, when you retire, you start receiving your benefit. It is a set amount, and continues until you die. Some pensions offer a survivor clause, whereby you can take a reduced amount, in exchange for the payments continuing for a surviving spouse. The benefit amount is usually based on your average salary, years of service, etc. 

A definent contribution plan is like a 401(k). You, and in some cases your employer, contribute a certain amount each paycheck. At retirement, the amount you receive, and for how long, isn't certain as it is with a defined benefit plan. Rather, you will draw down on the sum of your account, for as long as it will last. Many people solicit the help of a financial advisor to determine how much they can afford to withdraw annually, so that the sum can sustain itself throughout the rest of their life.

In a defined benefit plan, the obliger (the employer) assumes all market risk - whether the value of the funds goes up or down, they are obligated to pay the same amount to the retired employee. In a defined contribution plan, the employee assumes all market risk - if the value of the account goes up or down, the amount they can afford to withdraw in retirement will fluctuate accordingly.

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What is the average cost of a one time retirement plan from a fee-only advisor?
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