David Miller is Managing Director at MBL Advisors, a boutique advisory firm specializing in executive and corporate retirement benefits, wealth and investment management, and private client insurance solutions. David brings a diversified and in-depth level of expertise and experience to his clients. His decade plus of experience in wealth and investment management has created the foundation to be their most Trusted Advisor. He specializes in working with high net worth individuals, corporate executives, retirees, entrepreneurs and professional athletes. He is focused on developing customized investment strategies designed to meet the overall financial independence goals and investment objectives of his clients. He brings a customized, analytical, and proven process of success to his clients to help them navigate the financial landscape.
He started his career as an analyst with an investment management firm in Washington D.C., while there he was tasked with research and analysis of portfolio holdings. In 2005, he joined Northwestern Mutual and a d/b/a of the firm, Powell Financial. He helped take Powell Financial, Inc. private in 2007, forming their own Registered Investment Advisor, and specializing as a full service wealth management firm. He spent the last 9 years there as a partner and the dynamic center of the firm helping oversee the firm's investment and planning process. Considered a rising star in the industry, David has been recognized as a 2014 winner of Registered Rep Magazine’s “Advisors with Heart” award, the Charlotte Business Journal’s 40 under 40 award in 2015 as well as the first recipient of the Presidential Merit Award from Pfeiffer University.
David earned a B.A. degree from Pfeiffer University; attending on a 4 year soccer scholarship. He later earned his MBA from East Carolina's College of Business. He holds his Series 65, Life and Health, and Long Term Care Insurance Licenses.
In the community, David is actively involved with his Alma mater, he is a member of Pfeiffer University's Alumni Board, and the Falcon Club Board of Directors. He serves as a mentor to MBA students at the East Carolina's College of Business and enjoys the interaction with next generation talent. He is also very involved with The Kuykenstrong Foundation, where he is a Director and the Treasurer. Kuykenstrong is a registered non-profit in Virginia working with The Lombardi Cancer Center at Georgetown University to help children with cancer.
MBA, Finance, East Carolina's College of Business
Assets Under Management:
Don't invest an emergency fund, keep it liquid. There are some liquid strategies to get at least SOME return, although its not much in today's environment. There are some high interest checking/savings accounts from like Ally bank and others that are around 1%, so that is fantastic. There are also some 1 year no penalty cd's that you can put some money into where you can get out of the CD with no penalties but get some return while you don't need it. 1% would be a good return for an emergency fund in this environment.
Honestly very few. Especially in today's new public markets where companies can get liquidity in the private markets before ever going public they are going public much later and are more mature businesses when they become publically traded. The penny stocks out there are not like the penny stocks of yesteryear. They are companies that no other options but to try and get liquidity to continue to operate. Remember, institutions are not allowed to invest in penny stocks so it is hard for them to go up much. Way more will go under than will even double. Be careful...go to Vegas and bet on black, its way more fun.
DO NOT BUY AN ANNUITY!! First step is to determine your mom's monthly income need. This will help drive the allocation and income to be generated from the investment portfolio to supplement SS. Renting creates flexibility, so I would probably err on teh side of renting assuming she can find something she likes. Keep the money in her name, as the rules around gifting are relatively strict. Make sure she has her estate planning in order, and the assets are titled with a "TOD" registration so they avoid probate.
I would probably allocate her around 50/50 stocks to bonds but wouldn't be able to give that recommendation until proper income need planning was done.
Given your unemployment, I would keep the vast majority in cash until you get another job. Once you do, then I think you can explore investing some of it, but until then it doesn't make sense to put any of it at risk as you aren't sure how long you will be unemployed for.
Your debt is necessarily bad debt. I like the liquidity you have outside of the house so I wouldn't. While you certainly guarentee a return of 5.25% to pay down the mortgage, once you do so its very hard to get the money out of the house. I would hold off paying down the debt and look to make sure your money is effecicenty invested.