Edward Nelson

ChFC®
Personal Finance, Retirement, Investing
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“Edward Nelson, Financial Planner at Clear Trace Financial, provides financial and business advice without any commissions to his clients, ensuring their results are unbiased.”
Firm:

Clear Trace, LLC

Job Title:

Founder

Biography:

Edward (Ed) Nelson graduated from Bellarmine University (Cum Laude) with a degree in Business and Fine Art. After several years in private industry and as a management consultant for PricewaterhouseCoopers, he pursued his Chartered Financial  Consultant education through The American College. His desire to help families that traditional advisors and large firms ignore lead him to found Clear Trace, LLC. The firm is a Registered Investment Advisor, providing services as a fiduciary.

Ed is a fee-only financial planner to individuals and small to medium sized businesses. His practice is built around a fiduciary standard--his client's interest comes before anything else. Ed's background in technology also ensures that his customers are utilizing technology to its fullest. Part of Ed's practice includes performing as a Personal Financial Counselor to U.S. military members and families through Zeiders Enterprises, Inc. He enjoys supporting U.S. troops in their service and sacrifices for our country.

Ed has his ChFC, CPIM and CDP Certifications. He resides in the Louisville, Kentucky area.

Education:

BSBA, Business, Bellarmine University

CRD Number:

4700569

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Most Helpful
    Investing, Choosing an Advisor
Can you explain why a live advisor is a better option for financial advice than a low-fee, low-minimum automated advisory service?
67% of people found this answer helpful

As "live" advisors, we are always trying to explain to consumers how the value we bring to the engagement is worthwhile. One of the first things I tell a prospect is that you cannot compare my fees with "advisor-like service" fees. They are not comparable. I also ask them whether they will determine value based upon some market return comparison. I explain that with the advent of cheap and free investment vehicles there is no reason to hire an advisor of ANY kind of you are only after some market comparison return---just buy the index and be happy.

So why hire a "live" advisor? Here are some of the things they bring that an "advisor-like services" cannot:

The question is, do you need professional help in order to design and stick to an effective financial plan? To some degree, this depends on your unique situation, but most will find that they are better off seeking the information, expertise, experience, and discipline provided by a financial advisor.

Making quality financial decisions requires an ample commitment to learn and research. While the Internet's easy access to information has helped to make it feasible for individuals to independently manage their finances, the magnitude of investment skills and information that you need can be overwhelming. The financial world is filled with foreign concepts, esoteric language, legal rules, and difficult methodologies. Whether you want to develop a portfolio, plan for retirement, pay for college, or reach any other major lifetime goal, there are professionals who have spent their careers serving people with the same concern, and it is a good idea to take advantage of their experience.

For the purpose of analogy, consider the manufacturing of televisions. Since they make so many televisions, Samsung has grown to be good at it. They can make a high-quality television for a just a few hundred dollars. Consider how much it would cost you to make your own television; you might be able to do it, but it would take a huge commitment of time and money to learn the science, purchase the materials, and execute the necessary procedures. And the finished product would likely be questionable in comparison. Financial decision-making is the same. You can make financial decisions by yourself or get advice from an experienced professional. The financial decisions of individuals are commonly costly. The appropriate financial professional will make help you make good decisions at a comparatively low cost.

What will I get from a financial advisor?

Professional financial help goes far beyond picking stocks. Hiring an advisor arms you with expertise and resources with which to approach planning your financial future. This coaching and support can help you to smoothly endure and make the most of the circumstances in your life -- career, marriage, children, assets, liabilities, etc.

This is the position that I consider myself in: the "coach" to walk you through life experiences, making sure that your emotions (or in this case, some computer algorithm) don't get in the way of the plans that you have for "life"


Specifically, financial professionals can help to:

Avoid costly mistakes, manage risk, save time, and improve your overall investment results.
Guide you through the maze of retirement options -- 401(k), 403(b), 457,IRA, Roth IRA, pensions, annuities, Keoghs, etc -- and can put you on course to have the type of retirement you've always dreamed of.
Decrease your estate tax liability, thereby aiding the financial stability of your loved ones.
Reach your education savings goals through 529 Plans, Coverdell savings accounts, and other techniques.
Determine the type and amount of insurance you need to protect yourself, your family, and your assets.
Minimize your taxes, file your tax returns, and plan to reduce future tax impact.
If you own a business, develop a strategy to manage your business finances, including cash management, financing, employee benefits, and corporate taxes.

Furthermore, a financial professional provides the emotional discipline required to make sure plans are acted upon. The professional’s guidance, reassurance, support and stability to help you stay on course and reach your long-term goals.

 

March 2018
    Asset Allocation, Bonds / Fixed Income, Choosing an Advisor
Should I try a do-it-yourself approach when beginning to invest 50% in stocks and 50% in bond mutual funds, or hire a financial advisor to select a basket of stock options and bond mutual funds? 
50% of people found this answer helpful
March 2018
    Retirement Savings, Real Estate, Taxes
What are the tax consequences of consolidating multiple savings accounts for a home purchase?
0% of people found this answer helpful
April 2017
    Financial Planning, IRAs
Should I rollover my employee retirement plan?
0% of people found this answer helpful
November 2016
    Retirement, Retirement Savings, Investing, 401(k), IRAs
If I am behind on my retirement savings and I am maximizing contributions to my 401(k) and Roth IRA accounts but still need to save more, what other retirement investments can I utilize?
March 2018