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Overview

Services

Advisor Services

  • Financial Planning
    • -Estate Planning
    • -Retirement Planning
    • -College Planning
  • Insurance
    • -Life Insurance
    • -Health Insurance
    • -Annuities
  • Portfolio Management
    • -Individuals and/or Small Businesses
    • -Businesses or Institutional Clients
    • -Other Portfolio Management
  • Accounting & Tax
    • -Tax Advice
    • -Other Tax

Funds

Funds Used With Clients

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

Firm Client types

Qualifications

Experience

No timeline events available.
Employer Years Dates
Liberty Partners Financial Services, LLC 6 months, 2 weeks Jun 2017 - Present
Eddie Patel, Inc. 9 years, 4 months Aug 2008 - Present
Eddie Patel, Inc 9 years, 4 months Aug 2008 - Present
Zen Wealth Management Group Inc. 9 years, 11 months Jan 2008 - Present
Action Insurance Strategies, Inc. 5 years, 7 months Sep 2007 - Apr 2013
Brown & Element 1 year, 1 month Dec 2006 - Jan 2008

Designations & Memberships

  • 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.
  • Certified Financial Planner
    Designation
    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 Eddie Patel

    *Articles are published by advisors without compensation.

    Answers

    Ask a financial questionAsk a question
    At what age should my kids start building their credit?
    You are on to the right track. I was able to secure a junior credit card at just age 17 with my father as a cosigner. My credit quickly escalated over the following 2 years to the point where I was receiving multiple credit offers. Get them a card in their name, with you as a cosigner, and monitor t...  (more)
    Answered Jan 2012
    No cost mortgage?
    No-cost mortgages don’t eliminate closing costs, they are simply wrapped into the loan balance and are then paid over time. I see a lot of people who get sales calls from mortgage brokers talking about these "no closing cost" mortgages but the devil is in the details.On the matter of which is best ...  (more)
    Answered Jan 2012
    Is it possible to get some tax deductions if you are single and on a non-immigrant visa?
    Let me preface by saying I am not 100 percent certain about my response here, but my general response would be that the rule of thumb is, if you live and earn wages in the us, you pay federal income taxes in the US, without regard to your immigrant status. If we assume that statement to be true, it ...  (more)
    Answered Feb 2012
    Is the pension plan the same as the 401k plan?
    A pension plan is not the same thing as a 401(k), although both may have existed at your company. You will need to contact the HR department to get the scoop on this....  (more)
    Answered Apr 2012
    Should I sell company stock to pay down personal debt?
    Hi Alena,I'd be curious to know what type of debt it is. Not all debt is created equal.Eddie Patel...  (more)
    Answered Feb 2012
    I once was an employee for a company Bright Scope represents, and I was wondering how do I go about retrieving my money from my 401k.?
    Just contact your ex-employer and ask for the "401K Distribution Paperwork." You will be presented with a number of options on the forms. Depending on the option you select, there will be different ramifications from a tax perspective that you will want to consult with a financial planner or tax adv...  (more)
    Answered Aug 2012
    How to budget/spend less?
    Try mint.com. It's really user friendly, looks slick, it's online, it will remind you of bill due dates and credit finance charge increases, etc. they are owned by Intuit, makers of quicken personal finance software.Www.eddiepatel.com...  (more)
    Answered Jan 2012
    Can I max out my 401k and max out My Roth ira?
    In short, yes. You can contribute to a ROTH IRA without regard to your participation in a 401(k). The only thing that matters with your ROTH, is your adjusted gross income from your tax return. I believe the contribution eligibility for single people begins phaseout at $110,000....  (more)
    Answered Apr 2012
    Do failed business attempts impact personal credit scores?
    Provided that the liabilities that were bankrupted on, were guaranteed by the business, then yes, your personal credit will remain unchanged. However, I think its rare actually for an upstart business to be a sole creditor on more normal early credit situations, so I wouldn't be confident that your...  (more)
    Answered Mar 2012
    Waitress/taxes coming up?
    While Turbo Tax may be more cost effective, I think using a professional would be much a wiser idea. The questions that Turbo Tax may ask you may be two-sided and/or ambiguous in the response required. You only save 50 to 100 bucks by using the program and you spend your valuable time on something y...  (more)
    Answered Mar 2012
    How can I negotiate discounted payoff for my student loans?
    Breanna -- although I have little experience in this matter, I would say the best first step is to contact the loan servicer directly and simply ask. I am not sure if they will agree to a discounted payoff, but if there is a precedent for such a thing, they will be the only ones with that informatio...  (more)
    Answered Jan 2012
    I turned 55 Feb,2,2011, sent my forms late for my pension, has been months and have recieved nothing.?
    Get on the phone with the pension administrator and find out if they received your documents. If you have a financial advisor, its probably something they will do for you (via 3way conference) if you think you will struggle with any terminology....  (more)
    Answered Jan 2012
    Are Dividend Reinvestment Plans good investment tools?
    I don't think a DRIP is inherently any more risky, than the actual item you are reinvesting into. All you are doing is taking dividends earned on your investment, and buying more of the investment. Therefore, your overall risk is limited to the risk of the investment itself. ...  (more)
    Answered Jul 2012
    Do I need to file an amended tax return?
    I would definitely amend it. You can use a fillable form 1040X from the IRS website and mail it in. I have done it several times for several people and its very simple to execute. The IRS even provides you with an explanation section on the form.Eddie Patel...  (more)
    Answered Feb 2012
    Is it ok to ask my financial adviser what funds they invest their personal assets in?
    While I think its a great advisor soundbite to say, "A cook should eat his own cooking," I think that statement in and of itself is flawed. A cook in a restaurant may make a great steak, but rather prefer eating fish, when its his turn to eat.Likewise, while I dont think the advisor should be uncom...  (more)
    Answered Feb 2012
    How should I choose a CPA to work with for 2011 taxes?
    Hi David,In theory a CPA would have more specific tax knowledge than a "tax preparer" but I find the value of the CPA title to be vastly over-rated at times. While I think the CPA, based on all the work he/she does for the marks has shown an ability to navigate a tough educational platform, your se...  (more)
    Answered Jan 2012
    How can I effectively use deductions to lower my tax refund?
    I am assuming you meant "increase your tax refund" ... In general most Americans file for and receive what's called a standard deduction, this year I think 5800. However, the easiest way to increase your tax refund is to contribute to a traditional IRA. Outside of that most of the other "deductions...  (more)
    Answered Feb 2012
    Nondeductible IRA contributions conversion to Roth?
    It is possible and I have written a guide on this subject. The advantage of doing it is withdrawing the money tax free when eligible....  (more)
    Answered Feb 2012
    Tax tips for individual investor?
    Just be sure to reconcile your gains and losses on the sale of stock on your Schedule D. Pay special attention to the timing of the sales. If you held an investment for less than 1 year, you will pay ordinary income tax, more than 1 year, you will pay long term cap gains. ...  (more)
    Answered Feb 2012
    Who do i get ahold of to inquire about my 401-k?
    The best place to start is the HR Department. Was there an "HR" Department at D&L Industrial? ...  (more)
    Answered Jan 2012
      *Answers are submitted by advisors without compensation.

      Licenses & Conducts

      SEC
      U.S. Securities and Exchange Commission
      • license status
        Registered
      • disclosures
        None
      • as of date
        Jun 14, 2017
      FINRA
      FINRA
      • license status
        Not registered
      • disclosures
        None
      • as of date
        Nov 21, 2011
      Review the status and details of the disclosures noted above using the SEC's Investment Advisor Public Disclosure website:

      Assets

      Advisor

      Last updated on June 15, 2017
        • $2.0M
          Total Assets Under Management
        • $0
          Total Assets Under Advisement
        • 80
          number of clients
        • $25.0K
          Estimated Average Account Balance Per Client

      Eddie Patel, Inc

      Last updated on March 31, 2017
        • $5.6M
          Total Assets Under Management
        • N/A
          Total Assets Under Advisement
        • 252
          Accounts
        • $22.3K
          Estimated Average Account Balance

      Fees

      Types of Compensation Arrangements