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Tom Cooney, CPA/PFS, CFP®

Guiding Clients to their Financial Goals

Cooney Financial Advisors Inc



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Advisor Services

  • Financial Planning
    • -Retirement Planning
    • -Tax Planning
  • Pension Consulting
    • -401k
  • Portfolio Management
    • -Individuals and/or Small Businesses


Funds Used With Clients

Firm Client types



No timeline events available.
Employer Years Dates
Rosenberg, Smith, Cooney & Migliore Pc 16 years Jan 2000 - Jan 2016
Cooney Financial Advisors, Inc 32 years, 6 months Oct 1987 - Present

Designations & Memberships

  • American Institute of Certified Public Accountants
    American Institute of Certified Public Accountants
    The American Institute of Certified Public Accountants (AICPA) is the world's largest association representing the accounting profession, with nearly 370,000 members in 128 countries. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting; membership is also available to accounting students and CPA candidates. The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, non-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination.
  • Financial Planning Association
    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.
  • Certified Financial Planner
    Certified Financial Planner
    A standard certification for advisors, designees are exposed to nearly 100 topics on integrated financial planning. Major topics include, but not limited to: insurance, employee benefits, securities, state and federal tax, estate tax and planning, asset protection, etc.

Articles and Answers

Insights by Thomas Cooney

4 Simple Ways to Make the Most of your 401K
Published 2015-08-11 14:29:38
Qualified Distributions from a Roth 401k
Published 2013-09-27 12:56:44
Rolling Over Your 401k to a Roth IRA
Published 2013-06-24 13:06:31
Naming a Beneficiary
Published 2013-06-12 14:10:34
The Roth 401K Option
Published 2013-05-23 15:56:44
401K Loans: Beware the Trap
Published 2013-05-23 09:24:17
    *Articles are published by advisors without compensation.


    Ask a financial questionAsk a question
    Can you explain the difference between a Roth 401k and a Roth IRA and what someone should consider when deciding between the two as a primary retirement tool?
    Jenna, There is a lot of good information here. I would only add that if your income is below the Roth IRA threshold of $178,000 for marrieds and $127,000 for singles you can contribute to both the 401k Roth and the Roth IRA. Aside from the differing limits and contribution amounts they both provide...  (more)
    Answered May 2013
    My wife and I have relatively polarized earnings, should we be paying a lot more in taxes since we were just married?
    DavidFirst, congratulations on your wedding!Second, you are not alone. The first year that newly marrieds file a joint tax return can be a shock. You have experienced what is commonly referred to as the "marriage penalty", which hits two working couples when they file jointly. While the tax brac...  (more)
    Answered Jul 2013
    Hardship withdraw from a 401k?
    Frank, I agree that you should remove the penalty from your return by amending it using form 1040X. Keep in mind that the IRS reviews amended returns. So, I recommend that you attach your supporting documentation to the 1040X to avoid delays in processing. Best of Luck!...  (more)
    Answered Jun 2013
    If I want to withdraw money from my 401K from the account where I no longer work, must I rollover the 401K into an IRA?
    Peter,Since you no longer work for the company, you have the option to withdraw your money, in which case the plan would have to withhold 20% for taxes, or you can do a direct transfer from the plan to an IRA with no tax withheld. You could then withdraw whatever funds you needed from the IRA. Si...  (more)
    Answered Aug 2013
    IRS Age 55 Retirement Tax Exception?
    Hi Aaron,The plan should have used code 2 in box 7 of your 1099R, which tells the IRS that there is an exception to the 10% penalty. If they put a code 1 in that box you need to use the form 5329, as they suggested, to avoid the penalty. In Part 1 of the form on line 2 put in code 12 and the doll...  (more)
    Answered Aug 2016
    How do i find out how much retirement i have even if i no longer work at m-tek?how do i go by getting it .
    Calecia,Get in touch with the HR department. They will be able to guide you to the person that can give you that information.While you are talking to them make sure that they have your current address, telephone number and email. If you are entitled to benefits you should have been receiving regul...  (more)
    Answered Apr 2015
    How can we get more detailed benchmarks?
    Vivian, An independent company that scores (benchmarks) pension plan investments is fi360. If you are looking for benchmarking of pension fees you can get a report on the specific pension plan from Fiduciary Benchmarks....  (more)
    Answered Sep 2014
      *Answers are submitted by advisors without compensation.

      Licenses & Conducts

      U.S. Securities and Exchange Commission
      • license status
      • disclosures
      • as of date
        Mar 28, 2018
      • license status
        Not registered
      • disclosures
      • as of date
      Review the status and details of the disclosures noted above using the SEC's Investment Advisor Public Disclosure website:


      Cooney Financial Advisors Inc

      Last updated on March 12, 2020
        • $34.8M
          Total Assets Under Management
        • N/A
          Total Assets Under Advisement
        • 55
        • $632.2K
          Estimated Average Account Balance


      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