Jack K. Riashi, Jr.

CFP®
Personal Finance, Retirement, Investing
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“Jack Riashi, Jr., a Fee-Only Investment Advisor with Bloom Asset Management, Inc., has been advising individuals and families for more than 20 years in areas such as financial planning and investment management, among others.”
Firm:

Bloom Asset Management, Inc.

Job Title:

Financial Advisor

Biography:

Jack K. Riashi, Jr., CFP® has been with Bloom Asset Management since 2002 and has been an active member of the firm’s Investment Committee since inception, which is responsible for setting investment strategies and selecting approved securities for client portfolios. He provides a wide range of financial expertise including personalized investment management, asset allocation, and comprehensive retirement planning.  Jack has been featured as a financial expert for the Detroit News' Money Makeover series and has been a frequent guest on WXYZ-TV Channel 7 Action News providing financial advice and market observations.  He has also contributed numerous articles for the firm’s website, MoneyTalk and MoneyWatch newsletters. Jack has also been selected as an HOUR Detroit Five Star Wealth Manager each year since 2011, an honor he works hard to achieve.    

Jack has been serving clients in the financial service industry since 1987, holds the designation of Certified Financial Planner (CFP®) and is an active member of the Financial Planning Association. He is a graduate of Wayne State University with a bachelor's degree in finance and has been a featured speaker at many Bloom Asset Management seminars. 

As a CERTIFIED FINANCIAL PLANNER™ practitioner, Jack has met rigorous education and ethical requirements and has gained extensive knowledge in the areas of financial planning, risk management, investments, income tax planning, and retirement and estate planning.

In his free time, he enjoys spending time with friends and family and is an avid golfer and cyclist.  Jack is also very actively involved in his Church and has contributed his expertise in financial planning and goal setting to the Church’s Finance Committee over the years.  

Education:

BS, Finance, Wayne State University

Assets Under Management:

$1.1 billion

Fee Structure:

Asset-Based
Fixed

CRD Number:

1670490

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August 2017
    Investing, ETFs, Mutual Funds

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    Asset Allocation, Bonds / Fixed Income, IRAs
What is the best account to hold short-term bond funds?
100% of people found this answer helpful

In my practice, I generally position most bond funds in tax-deferred accounts like regular IRAs since the money grows tax-deferred.  However, if you plan to use the short-term bond fund as a source of emergency money, then you could also add it to your brokerage account where you can access those assets anytime you desire.  The last account I would use for any bond fund, not just a short-term bond fund, is a Roth IRA.  A Roth IRA is one of the very best retirement accounts available and because assets in those accounts grow tax-free, you generally want to use growth-oriented investments in those accounts such as equities.  

I also think equity funds like an index fund and/or even actively managed stock funds are better positioned in brokerage accounts because capital gain rates are generally lower than ordinary income rates.  This may not apply to all taxpayers, but it may for most.  Positioning bond funds in brokerage accounts subjects you to interest income, which is taxed at your highest ordinary tax rate.  However, if you wanted to invest in a bond fund in a taxable brokerage account, then you may want to consider using a tax-free bond fund.  There are many short-term tax-free bond funds available to purchase.  This could be a solution depending on your tax bracket.  

In summary, I like growth-oriented investments in Roth IRAs and brokerage accounts, and bond funds in IRA or tax-deferred accounts.  However, the positioning of asset classes will depend on how much you have each of those accounts.  If all you own is a brokerage account, then you will need to own bond funds to make sure you have adequate diversification.  You could use taxable and/or tax-free bond funds. 

I hope the above helped.  Good luck to you!

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