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Michael Reid, CFA®

Financial Planning | Retirement Income | Investment Counsel

Exchange Capital Management Inc
CCO

Ann Arbor

MI

Contact Me

Overview

Services

Advisor Services

  • Financial Planning
    • -Comprehensive Financial Planning
    • -Retirement Planning
    • -College Planning
    • -Charitable Planning
  • Portfolio Management
    • -Individuals and/or Small Businesses
    • -Businesses or Institutional Clients

Funds

Funds Used With Clients

There are no funds listed for this advisor at this time.

Firm Client types

There is no client type data to display at this time.

Qualifications

Experience

No timeline events available.
Employer Years Dates
Exchange Capital Management, Inc. 30 years, 3 months Dec 1989 - Present

Designations & Memberships

  • Chartered Financial Analyst Institute
    Membership
    Chartered Financial Analyst Institute
  • Financial Planning Association
    Membership
    Financial Planning Association
    The Financial Planning Association (FPA®) is the largest membership organization for personal financial planning experts in the U.S. and includes professionals from all backgrounds and business models. We help connect thousands of consumers to competent and ethical planners who uphold the FPA Standard of Care.

Articles and Answers

Insights by Michael Reid

Ghosts In the Machine
Published 2015-10-28 09:27:24
The Price of Advice
Published 2015-07-31 08:36:25
Getting Started : Advice for College Grads
Published 2015-05-13 10:45:24
ROCKING RETIREMENT INTO YOUR 90’S
Published 2015-05-01 09:45:49
Take the Money & Run
Published 2015-03-02 06:50:16
Wolves in Bondland
Published 2015-02-05 07:53:25
Scene of the Crime
Published 2015-02-04 10:23:41
    *Articles are published by advisors without compensation.

    Answers

    Ask a financial questionAsk a question
    I have 100% of my retirement money in a target date fund. Do you consider that diversified enough or not?
    An old item and the original poster has likely moved on, but it's a question we hear again and again...not only as it relates to 401(k) retirement savings plans, but with regard to 529 college savings plans as well.The short answer is no, I would not consider you sufficiently diversified. Let me ex...  (more)
    Answered May 2015
    How do I find out what my lazy boy pension is and when can I take it out?
    Jim,If you ask, the La-Z-Boy Human Resource department will be able to generate pension benefit estimates for any scenario of interest to you. This might include benefit estimates assuming immediate retirement, retirement at age 65, or retirement at some later date. Additionally, you typically wil...  (more)
    Answered Mar 2015
    Want to take a loan against my 401k?
    Linda,The advice from Mr. Krance to make this your last resort is spot on. While using the loan feature of your 401(k) can occasionally (stress on "occasionally") be part of a sound planning strategy, more often than not it simply offers a temporary deferral to a structural imbalance. Before procee...  (more)
    Answered Jun 2015
    How do I go about requesting my retirement benefits?
    Paula,By retirement benefits, let's assume the broadest definition and include employer sponsored healthcare, retirement income, social security, and medicare. You've undoubtedly worked hard over your career and you'll want to make certain you collect all the benefits to which you are entitled.The...  (more)
    Answered Mar 2015
    I'm 74 years old...can I still convert a regular IRA to a Roth IRA?
    William,If you have a sizable estate and anticipate a significant portion of your IRA will ultimately be left to non-spousal beneficiaries, in some circumstances a Roth conversion may be an effective estate planning tool despite the triggering of a near term taxable event. As with any advanced esta...  (more)
    Answered Mar 2015
    How can I see if my 401k benefits. I worked at kellogg's 1992 to 2007.
    Arndra,You should contact Kellogg's Human Resource department as soon as possible to inquire about your 401(k) plan benefits. Make sure you have your Social Security number handy to help locate records. If you have a copy of a current or one of your old statements, that is also going to be a huge h...  (more)
    Answered Apr 2015
    How do I find out if my 401k / Profit sharing Plan is still active with a previous or former employer.
    Ann,You should contact your previous employer's human resource department as soon as possible to inquire about your 401(k) plan benefits. Make sure you have your Social Security number handy to help locate records. If you worked for a large company and either can't find a contact number or keep ge...  (more)
    Answered Apr 2015
    Am I paying my 401k financial advisor too much?
    Sheila,Great question! Rather than focus exclusively on the financial advisor's fee structure (I'll come to that later), let's start by exploring the total cost of plan sponsorship. Combining your advisory fees, plan administration fees, mutual fund management fees, sales commissions, 12b-1 fees, i...  (more)
    Answered Apr 2015
      *Answers are submitted by advisors without compensation.

      Licenses & Conducts

      SEC
      U.S. Securities and Exchange Commission
      • license status
        Registered
      • disclosures
        None
      • as of date
        Mar 22, 2019
      FINRA
      FINRA
      • license status
        Not registered
      • disclosures
        None
      • as of date
        N/A
      Review the status and details of the disclosures noted above using the SEC's Investment Advisor Public Disclosure website:

      Assets

      Advisor

      Last updated on March 23, 2019
        • $330.0M
          Total Assets Under Management
        • $0
          Total Assets Under Advisement
        • 217
          number of clients
        • $1.5M
          Estimated Average Account Balance Per Client

      Exchange Capital Management Inc

      Last updated on Feb. 5, 2020
        • $509.6M
          Total Assets Under Management
        • N/A
          Total Assets Under Advisement
        • 948
          Accounts
        • $537.6K
          Estimated Average Account Balance

      Fees

      Fee Only Advisor
      $
      This advisor has certified that they are compensated soley by their clients, and do not accept commisions or compensation of any kind based on the products they recommend.

      Types of Compensation Arrangements