John Frye

CFA
Personal Finance, Retirement, Investing
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“With over 38 years of experience in the investment field, John Frye is Chief Investment Officer and a founder of Crane Asset Management LLC who oversees all aspects of Crane's investment and portfolio management process.”
Firm:

Crane Asset Management LLC

Job Title:

Chief Investment Officer

Biography:

Crane Asset Management LLC is a full-service investment counseling firm providing investment management services to private individuals, retirement plans, endowments, and charitable foundations. All accounts are managed on a discretionary basis. John Frye founded the firm in 2003, with a partner who remains Chief Operating Officer. They work with all of their clients to formulate a long-term investment strategy that will meet their investment objectives while addressing their risk profiles. Understanding their clients in this way enables them to develop unique plans based upon each of their clients’ needs to help them achieve their financial goals.

Before co-founding Crane Asset Management LLC, John served as Executive Vice President and Portfolio Manager at Renberg & Associates in Beverly Hills. He began his career with E. F. Hutton & Company in New York and subsequently worked with Alex. Brown & Sons in Baltimore. He received his Bachelor of Arts in Politics from Princeton University in 1977 and his M.B.A. from Columbia University Graduate School of Business. John holds the Chartered Financial Analyst® designation and is a member of the CFA Society of Los Angeles.

Education:

BA, Politics, Princeton University
MBA, Finance, Columbia Graduate School of Business

Assets Under Management:

$81 million

Fee Structure:

Asset-Based

CRD Number:

849182

Disclaimer:

Crane Asset Management is registered with the State of California. A copy of Crane's Form ADV filing (Parts 2A and 2B) can be accessed here. In addition, Crane's Form ADV (Part 1) can be downloaded from the SEC's website. (Type in Crane's name in the field provided and follow the instructions on the site to download the information required.)

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    Retirement, 401(k), Mutual Funds, Stocks
How can I maintain my current retirement income?
88% of people found this answer helpful

First of all, I must assume (since you don't mention it) that you have no meaningful savings put away outside of your retirement account.  If this is true, it looks as though you are able to cover expenses with pension income plus $18,000 per year (pretax) in withdrawals from the 401(k).  $18,000 is 4.4% of the value of your account, so the withdrawal rate is sustainable, more or less.

If you do have a savings account, take the $1,500 per month from it and not your 401(k) (which you should roll over to an IRA at some point).  401(k) withdrawals are taxable and withdrawals from savings are not.  Let the assets in the retirement account grow as long as possible, and take them only when you have to -- at age 70-1/2 and after.

But I have to mention that I think 60% bonds is too much.  You are subject to "the risk of safety" in that your retirement assets may feel safe, but are unlikely to grow much.  Even an extra 2% per year, over the next 20 years, can make a big difference in your lifestyle.  I know markets are at highs and that has everyone worried, but I think a 66-year-old who needs less than 5% of his assets in any given year can consider himself a long term investor.  I would hold 65-70% equities.  Also, consider preferred stocks as an alternative to bonds.  I can give you more information on this if you are interested.

Now, don't go changing all at once.  We are bound to get a selloff and when it comes you should consider it a buying opportunity.

December 2017
    Banking, Investing
What does it mean when you move your investments to cash?
86% of people found this answer helpful
September 2017
    Debt, Real Estate, Taxes
Should I sell my condo in order to pay off student loans?
86% of people found this answer helpful
June 2017
    Retirement, Investing, 401(k)
Should I wait until I am 70 years old to retire?
85% of people found this answer helpful
October 2017
    Personal Finance, Asset Allocation, Real Estate
Should I rent out inherited property?
85% of people found this answer helpful
August 2017