Meridian Financial Advisors, LLC
Georgia and Rich Bruggeman founded Meridian Financial Advisors, LLC in 1990 to provide truly fee-only advice and guidance without any conflicts of interest that accompany commission sales. Meridian Financial Advisors, LLC is a comprehensive financial planning and investment management firm. They have been providing financial planning services to individuals, families and small businesses since 1990 in a fiduciary capacity. While they advise their clients on insurance needs, taxes, retirement planning, estate planning, education funding and Long Term Care they specialize in portfolio management and securities analysis.
Georgia and her team give one on one attention to each of their clients and develop plans that consider their clients' specific time horizon, risk tolerance and stated goals. They take a comprehensive approach to their clients' finances because a decision in one area will affect the rest of the plan. As a financial planner, Georgia is often compared with the quarterback who not only is an integral part of the game but who depends on everyone else on the team working together.
In addition to holding the CFP® designation, Georgia is a registered investment advisor and earned her MBA in Finance from Babson College and has passed Levels I and II of the CFA program. Georgia is a member of the Financial Planning Association, CFA Institute and the National Association of Personal Financial Advisors (NAPFA).
Georgia and Rich live in Sherborn with their 2 sons, and also spend time in Cape Cod near their alternate N. Eastham office.
MBA, Babson College
BS, Business Administration, Skidmore College
Assets Under Management:
An experienced fee-only CFP who is knowledgeable about minimizing taxes and the best way to take distributions and Required Minimum Distributions, Long term Care, Estate Planning, Charitable giving and a host of other financial topics that will inevitably arise during your retirement would be the best person to help you transition to retirement.
Vanguard will help you with your investments but they will not be able to help you with Long Term Care or run scenarios on retirement cashflow or assist you with your estate plan. Vanguard is not free either. They charge 35 basis points.
You want to work with someone who will be able to help you no matter what comes up and who has your total financial picture in mind when making recommendations. Your investments are just one part of the puzzle. You also want to hire someone who is a fiduciary. This means someone who is obligated to put your interests first and disclose all conflicts of interest. Registered Investment advisors are fiduciaries for taxable and retirement assets.
Whether it is in an IRA or outside an IRA the earlier you start saving and investing the better. Trying to time the market doesnt work. The important thing is to get invested and stock with your plan. A good way to start would be a stock mutual fund that you can add to every month by setting up automatic deposits to the fund. We will have another downturn but dont sell your fund and dont stop contributing. This is how wealth is built.
Because you are 29 years old, you should invest the Roth contribution lump sum. Even if we have a correction or even a recession, your time horizon is long enough that you will earn a good return. Dollar cost averaging allows you to take advantage of price pullbacks, but it doesn't work if the market is in a sustained uptrend. You end up paying higher and higher prices and would have been better off investing in a lump sum. But determining whether we will have a smooth or choppy market is unknowable, so the best course of action is simply to save and invest regularly and not try to time the market.
I am not sure if you are asking about the management fees or the amount of money to invest in a fund so I will answer both.
A common management fee for a mutual fund would be 1.25%.
A common minimum investment for an IRA in a mututal fund would be $500.
A common initial ivestment in a regular accoutn would be $1000.
If your financial situation is realtively simple and you are only looking for investing and rebalancing help then maybe a robo advisor would work for you.
But if you are looking for a more hands on relationship with someone who knows your financial situation in detail and can offer proactive advice on a variety of financial areas a robo can't do that for you.
A robo cannot advise you on the correct trust to use to maintain the tax deferred status of your 401k if you were to die and had small kids. A robo is not going to be able to run different scenarios and model if you can make a non deductible IRA contirbution and converting to a Roth or that irrevocable trust income has to be paid out to avoid trust tax rates. A robo will not be able to advise you on the best low cost 529 plan, determine how much life insraunce you need and what kind to get. If you have a question on a financial topic and want to run it by someone a robo cannot do this.
Online financial planning tools are full of faulty assumptions and can make people feel more comfortable that they should. You can google reviews of online financial planning tools. They are very basic and should not be sued for anythign more than simple calculations.