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Grayson Hofferber

Personal Finance, Retirement, Investing
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“Grayson Hofferber is the President of Millennial Wealth Management, an independent, fee-only financial planning firm dedicated to serving the next generation of investors.”
Firm:

Millennial Wealth Management

Job Title:

President

Biography:

Grayson Hofferber is the President and Founder of Millennial Wealth Management, a Fee-Only Registered Investment Adviser in the State of Colorado serving clients of the Millennial Generation in the Denver/ Boulder area as well as other states virtually.

Grayson has been featured in industry publications such as FA Magazine, Advisor News, and Investopedia as well as local publications of the Broomfield Enterprise and the Boulder Daily Camera.

As of 2019, Grayson has been in the financial services industry for 9 years, holding roles as a broker with a major retail brokerage firm, pension and retirement plan consultant, a private client banker working with households of $5 - 15M, and a financial planner before founding MWM.  The varying roles and knowledge gained in the industry have prepared him for the unique needs of serving clients’ total financial planning picture.

As a Millennial himself, Grayson understands that achieving financial independence is the new “retirement”.  Clients choose to work with MWM because they want a financial advisor that understands them both personally and financially and is going to be able to serve their needs for a long time, as the average age of a financial advisor is 51 and 38% of all advisors are planning to retire in 10 years (according to Cerulli Associates).

MWM believes that financial planning should be affordable and accessible and is unique in that comprehensive financial planning is delivered through a monthly subscription fee instead of large upfront planning fees.  MWM has no income or net worth minimum requirements, but most clients are high-income earning young professionals or entrepreneurs.  One of the benefits of the subscription model is having a financial advisor on retainer where clients are expected to reach out for any, and all questions regarding money.  Clients also get timely market information through the weekly market update videos, the blog, and an email newsletter.

Grayson enjoys helping clients see the power of saving through a developed financial plan and experiencing the big wins like when a client maxes out a retirement plan for the first time, becomes debt free, or reaches financial independence.

Grayson resides in Broomfield, CO with his wife and 3 children and is very active in the local community.  He currently serves as the Chairman of the Broomfield Chamber of Commerce and ran for Broomfield City Council in 2017.  He is the founding member of HYPE: Helping Young Professionals Evolve, a networking and personal development group for young professionals in the Broomfield area.  He enjoys sports and camping and when he is not working you can find him enjoying local craft beer at one of the many area breweries, hiking in the mountains, or just hanging out with the family at one of the many local parks.

Assets Under Management:

$1 million

Fee Structure:

Fee-Only

CRD Number:

5894660

Disclaimer:

The information on this site is provided “AS IS” and without warranties of any kind either express or implied. To the fullest extent permissible pursuant to applicable laws, Millennial Wealth Management, LLC referred to as "MWM" disclaims all warranties, express or implied, including, but not limited to, implied warranties of merchantability, non-infringement and suitability for a particular purpose. MWM does not warrant that the information will be free from error. None of the information provided on this website is intended as investment, tax, accounting or legal advice, as an offer or solicitation of an offer to buy or sell, or as an endorsement of any company, security, fund, or other securities or non-securities offering. The information should not be relied upon for purposes of transacting securities or other investments. Your use of the information is at your sole risk. Under no circumstances shall MWM be liable for any direct, indirect, special or consequential damages that result from the use of, or the inability to use, the materials in this site, even if MWM or a MWM authorized representative has been advised of the possibility of such damages. In no event shall Millennial Wealth Management, LLC have any liability to you for damages, losses and causes of action for accessing this site. Information on this website should not be considered a solicitation to buy, an offer to sell, or a recommendation of any security in any jurisdiction where such offer, solicitation, or recommendation would be unlawful or unauthorized. COPYRIGHT MILLENNIAL WEALTH MANAGEMENT, LLC. ALL RIGHTS RESERVED.

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    Financial Planning, IRAs
What should the time difference be between depositing funds in a non-deductible IRA and converting it to Roth IRA?
33% of people found this answer helpful

Great question!  There is no hard and fast rule on how to properly perform the backdoor Roth, but one of the best reads I have found on the topic can be found on the Nerd's Eye View blog at Kitces.com.   Here Michael Kitces outlines how to do a backdoor "safely."  Take a look at his process below:

HOW TO DO A BACKDOOR ROTH IRA CONTRIBUTION SAFELY

  1. Verify there are no other pre-tax IRAs
  2. If there are, roll over existing pre-tax IRAs to a 401(k) (if available) to avoid the IRA aggregation rule
  3. Contribute to non-deductible IRA (if eligible)
  4. Invest funds in the non-deductible IRA
  5. Keep invested for 1 year (or if you’re more aggressive follow the “one-statement” rule)
  6. Convert to Roth IRA
  7. Repeat steps 2-5 annually as desired
  8. Do not at any point along the way note that you are doing a “backdoor Roth contribution”!

Hope this helps!  If you have any further questions, consult a fee-only financial planner.

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