Patrick Traverse

Personal Finance, Investing, Lifestage Based Planning
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Helpful
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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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    Debt, Investing
What should I do with the $10,000,000 I just acquired after selling my company?
100% of people found this answer helpful

Congratulations on your success! Here's a few things that I do if I were you:

  • Cash flow need:
    • I would work into getting a concrete value of the income you need to live the way you desire. Also, will you get back to work and start a new business eventually, or would like to live off what you earned.
  • Investment positionning:
    • Once you find your income need, build a bond portfolio ladder to give you enough income for the next year. If you need $100k of net income for example and the average rate on your bonds is 4%, you will need $2.5M of bonds. Adding Municipal bonds to the mix will help you control taxes since their payments are tax free... This would be an effective way to create your needed "paycheck".
      • Then build a mid-term portfolio of moderate risk investments. Every year, as you figure out your income need, you would sell out some of these investments to add more bonds to create more income. 
      • You would also have a long-term investment block that would invest mainly in equities. This block is to build assets for future income need.
      • The idea is to move money from your long-term block up to your bond portfolio as your need for income grows.
  • Estate Planning: Having a portfolio this large at your age is a blessing but also a responsibility. With estate planning instruments like trusts, you can start to plan how the money will be distributed in the future. How your family can segragate assets for tax efficiency...

I just wanted to give you a snapshot of the things that you need to organize. You will definitely need the help of many different types of advisors to ensure that you build your finances according to your wishes.

I hope this helped.

4 days ago
    Debt, Financial Planning
Am I overspending?
89% of people found this answer helpful
2 weeks ago
    Mutual Funds
Can I use my mutual funds as a savings account?
86% of people found this answer helpful
October 2017
    Investing, Asset Allocation, Stocks
What does the P/E ratio tell you about the value of a security?
86% of people found this answer helpful
August 2017
    401(k), IRAs
Should I stop contributing to my 401(k) and build up my cash?
86% of people found this answer helpful
October 2017