Patrick Traverse

Personal Finance, Investing, Lifestage Based Planning
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“Patrick Traverse is a financial planner and investment manager. He founded MoneyCoach to be the firm he wished he hired as an investor when he played professional hockey. Patrick was awarded one of the Top 100 Most Influential Advisor by Investopedia.”
Firm:

MoneyCoach

Job Title:

Owner

Biography:

Patrick Traverse, founder of MoneyCoach, decided to get into financial services after an 18-year professional hockey career. His journey to his new career started as a young investor during his early twenties as he became frustrated with the type of help he was getting from his advisors. He felt compelled to learn on his own about everything he needed to know to make proper financial decisions. His new passion for the intricacies of the markets and personal finance pushed him to choose financial planning as a second career.

Patrick and his team know that clients are busy with their life and sometimes feel they don’t have the time to get to learn everything they need to know. Patrick thinks it is important that he advises his clients on every facet of their financial life. He feels that every piece plays hand in hand with each other and if an area of their finances is neglected, it could mean that their whole life plan could come down crashing.

After more than 4 years in the business, Patrick founded MoneyCoach in 2016. He uses his experience as a top-level athlete to help his clients become financially successful. He feels that the most important missing component that most investors do not have is accountability. By being their financial coach, Patrick guides his clients to control their money. Not that money is everything, but so much of our lives depends on how we manage money!

Education:

Organizational Leadership, Quinnipiac University

Assets Under Management:

$10 million

Fee Structure:

Fee-Only

CRD Number:

6089405

Disclaimer:

MoneyCoach LLC and/or Patrick Traverse offer Investment advisory and financial planning services through Belpointe Asset Management, LLC, 125 Greenwich Avenue, Greenwich, CT 06830 (“Belpointe), an investment adviser registered with the Securities and Exchange Commission (“SEC”). Registration with the SEC should not be construed to imply that the SEC has approved or endorsed qualifications or the services Belpointe Asset Management offers, or that or its personnel possess a particular level of skill, expertise or training. Insurance products are offered through Belpointe Insurance, LLC and Belpointe Specialty Insurance, LLC. MoneyCoach LLC is not affiliated with Belpointe Asset Management, LLC. Additional information about Belpointe Asset Management is available on the SEC’s website at www.adviserinfo.sec.gov.

Videos
  • Patrick Traverse Investopedia Interview
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November 2017
    Personal Finance
November 2017
    Personal Finance, Financial Planning
September 2017
    Personal Finance
October 2017
    Investing, Financial Planning
November 2017
    Retirement Savings, Retirement Plans, Retirement, Taxes

All Answers
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    Annuities, Mutual Funds, Taxes
How do I transfer my variable annuity to a mutual fund without a big tax penalty?

It depends. What you want to avoid is a tax cost. Is this a Non-Qualified Annuity? If so, find out what your first investment was and what your account grew to. Those gains would be taxed as ordinary income plus a 10% penalty if you are under the age of 59.5. If your gains are substantial, you might want to research annuity companies. Some of them have products that are stripped down to any unecessary expensive benefits you might need which reduce the cost substantially. 

If your annuity is within an IRA, then there are no cost to transferring to another custodian and buying mutual funds.

I hope this helps.

2 days ago
    College Tuition, Mutual Funds, Stocks
Are there funds (other than 529 Plans) for college education costs where I can deposit money regularly and purchase stocks without incurring fees?
2 days ago
    Debt, Financial Planning
Am I overspending?
86% of people found this answer helpful
5 days ago
    Disability Insurance, Women & Money
How can I save money while on disability?
33% of people found this answer helpful
5 days ago
    Debt, 401(k)
Can I withdraw $25,000 from my 401(k) without incurring a large amount of penalties?
67% of people found this answer helpful
6 days ago