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Employer Years Dates
Cetera Advisors LLC 6 years, 10 months Jan 2013 - Present
Multi-Financial Securities Corporation 8 years, 11 months Jan 2004 - Dec 2012

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    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 Daniel Chen

ROTH IRA versus the Traditional IRA
Published 2012-06-25 12:16:40
Do You Need a Portfolio Strategiest??
Published 2012-06-25 12:10:15
    *Articles are published by advisors without compensation.

    Answers

    Ask a financial questionAsk a question
    Best course for inheritance money?
    John, In my opinion, the best course of action to take in allocating this inheritence is to clearly identify your near and longer term goals. Assess the type of risk you want to take in achieving those goals and then allocate a portion to various assets to invest. Real estate as well as equities an...  (more)
    Answered Aug 2012
    What do the credit ratings on bonds mean?
    Joss,Credit ratings on bonds reflect the ability of the issuer to pay on the principle and interest promised. Triple A reflect the highest probability that the issuer can fullfill the promise made and as a result are the safest to invest in. That being said, the bond markets in today's world are th...  (more)
    Answered Jun 2012
    On average, how much of my stock portfolio should be in international stocks?
    Ryan,I agree with Barry for the most part. However, given the extreme volitility in today's markets, you may want to consider some type of tactical strategy that will overweight and underweight this asset class given changing global conditions while maintaining your risk profile.Good Luck,Dan Che...  (more)
    Answered Apr 2012
    What are some indicators that I may need to revisit the construction of my portfolio?
    Marvin,Portfolio construction is a very complicated bussiness. What to buy, what to sell, when to buy and when to sell. Our mandates to own assets are very deciplined. Create your own mandates and guidelines and adhere to a strict decipline of managing that decipline. If that becomes too difficult,...  (more)
    Answered Oct 2012
    If futures and options are such risky investments, in what situations does it make sense to invest in them?
    Gabrielle,Futures and options are risky as an outright investment, however if used as a risk management tool versus other assets calsses then it becomes very valuable. The way it is mostly used today is in various investment strategies to help mitigate the outright risk in other asset classes.Hope...  (more)
    Answered Jun 2012
    Why would an investment firm recommend as many as 12 different mutual funds for IRA diversity? Seems like a lot to look at and manage.
    kurt,I fully agree with Jon and George . There are alot of variables to consider when building a portfolio for a client. Be honest with your advisor and ask him directly to explain his process and reasoning to you.Remember, sometimes it's the way someone answers you as opposed to the answer given ...  (more)
    Answered Jan 2013
    What are your thoughts on having a college savings account in my kids' names instead of in mine?
    Amos,The system sees it this way.-The child is your dependent and therefore you are responsible for the childs financial obligations.- Whatever funds are in the students name will be consider available to support the cost incurred and then they look at your financial ability to pay for the cost o...  (more)
    Answered Apr 2012
    How do I determine what my advisors fees are?
    Remy,There are two sets of fees. Advisor fees and investment fees. Advisor fees are pretty easy to understand. Simply ask your advisor, what are the fees you charge me for services provided?? He should give you full and detailed disclosure. The answer should not be confusing. If it is, then it's no...  (more)
    Answered May 2012
    Is the pension plan the same as the 401k plan?
    Eddie is right. i had a recent case where the client did not know if she had a pension. She did. It was $160k earning a fixed rate of 4%. Contact HR or the benefits department.Good Luck,Dan...  (more)
    Answered May 2012
    My Employer sponsored Paychex 401k is rated poor or below average in all categories. I want to invest $400 per month that would be safe enough to actually draw on or in someway have access to in about 6 - 10 years. Any suggestions?
    Robin,There are two things to consider here.1] If you are trying to replace your tax deductible contributions [like your 401k], then consider a IRA or ROTH, but ask yourself these questions:a] Do I want a tax deductable or taxable account?b] Do I qualify under IRS guidelines to have a 401k and a...  (more)
    Answered Oct 2012
    I have been employed at wal-mart for 30 years and have around 500k in retirement and wish to retire at 62. Can I pull out my retirement and reinvest at 59 1/2 to to bring in additional income before age 62 without leaving the company.?
    Hi Gary,Check with your administrator for the plan. There might be a clause that allows for in service withdrawals. you have to examine the guidelines for that to see if it accomodates what you want to do.I agree with Helen, you should work with a fee based advisor to get an overview of your parti...  (more)
    Answered Aug 2012
    I worked for ssc service solutions 8 years ago and im trying to locate my esop plan . my adress has changed and i dont receive statements. how do i locate my plan.?
    Tucker,Contact the benefits department at SSC Service Solutions and ask them for records reflecting the detailes of your ESOP Plan.Good LuckDan ...  (more)
    Answered Dec 2012
    My husband and are ready to retire. I have a 401K with my prior employer. I am about to roll this 401k over to an IRA. We own our home in full. We also just found a retirement home of our dreams and wish to find the most effective way to purchase?
    Marie,I hear your concern. What you need is a detailed financial plan. Contact a planner to start the process of getting good quality advice. This is a critcal stage in your life. Do not settle for short answers on the internet.Good luckDan...  (more)
    Answered Oct 2012
    What happens to leftover money in a 529 plan?
    Norma,Here are some options:-Assign another "beneficiary" to the balance of the account. Examp; another child, first cousin of your child, any other immediate member of your family[Husban/Wife]. Maintain the assets in the account and assign to a future granchild. If you liquidate the account you w...  (more)
    Answered Mar 2012
    I'm in my mid-twenties and am looking for advice on how to allocate my assets properly. What's the best type of financial adviser to look for in this process.?
    Ryan,Look to work with an advisor that is fee based. An advisor that will provide advice to you on a particular subject matter for an hourly fee. You will get the advice you need given your current total situation.Best of Luck.Dan...  (more)
    Answered Jun 2012
    How do I transfer my funds?
    Diane,There are a couple of ways to transfer funds. In the absence of more information, here is a couple of suggestions.1] Get the papaerwork needed from your new employer and submit them to your new employers plan administrator to roll your old 401k to the new one.2] Decide on where you want to ...  (more)
    Answered Dec 2012
    What should I expect from a financial planner?
    Derek,This may be a long answer, but I think you will get the point:Helping Clients control their emotionsPerforming due diligence on a wide variety of productsAssisting clients with a financial plan that can change with a car accident, a death, a birth, a marriage, a divorce, or myriad other th...  (more)
    Answered Jun 2012
    I usually receive a statement once a year detailing my balance. When or how can I contact someone to check my balance?
    Susane,This sounds like a pension or a 401k you left behind. Call the human resource department or the benefits department at Columbia Pictures and they will get you in touch with the administrator for the plan. The administrator of the plan holds all the records and should provide som insight.Goo...  (more)
    Answered May 2012
    How do I enroll in the 401k plan?
    Darrell,Contact your benefits department and ask them for the guidelines for enrolling in the company 401k. Some plans require new employees to fullfill a waiting period.Good Luck!Dan Chen...  (more)
    Answered May 2012
    How do I with draw from the plan at age 70?
    Harlan,There are different types of plans. It depends on which type you have. Fixed pension plans and 401k plan have different ways to distribute money. Speak to the plan administrator, human resouces or a financial planner to help you decide.Good LuckDan...  (more)
    Answered Aug 2012
    I'm trying to decide where to invest next. I'm maxing out my employer matched 401k, maxing out a traditional IRA, and will soon have an emergency fund in a savings account that I'll continue to add to every paycheck. Where to next?
    J,Congrats. Looks like you are well on track. I work with quite a few clients like this. What I suggest is the following. Work with your CPA and your financial advisor to review other tax defferred plans under the IRS guidelines. to see what works best given your individual scenario. You might want...  (more)
    Answered Jul 2012
    What is your best solution for conservative client that needs inflation protection for the next 50 years- currently married age 55 and live to over 100+ expected? What solutions are there to protect cash flow to meet inflation demands in the future?
    Scott,There are strategies that are very specific to staying up with inflation. There are also a number of products that during the distribution phase there is a CPI component that will add value to keeping up with inflation. Condider a Absolute return strategy for protecting principle as a primary...  (more)
    Answered Jul 2012
    Should I play it safe now that I'm retired?
    Hi lionel,The answers you have revived so far are all correct. However, if you need to know what will work for your particular situation, get a complete Financial Plan done for yourself and then update it at least every two years.A completed comphtrhensive plan will give you the best probability o...  (more)
    Answered Mar 2012
    Should I hold onto stocks or sell immediately?
    Hi Xia,Stock options are new found money. If there is a profit, even better. Cash out the stock and diversify the proceeds as is appropriate given your risk level and goals for these funds.Good luck,Dan...  (more)
    Answered Mar 2012
    I will be retiring in one year at age 63. I have a good retirement package from my employer and have managed my 401K plan fairly well to current balance of $1.1M. 90% of my 401K is invested in a stable income fund at 3.55%, 10% is in company stock which has been flat for the past couple of years.
    Let's be clear on the question; What should I do to protect my investments after I retire?Being that I do not know your particular situation, I am going to give you a couple of bullet points to follow as a start.1] First, I recommend that individuals who are preparing to retire start to look at th...  (more)
    Answered Jun 2012
    How do I find out if my company sponsored 401-K through principal financial has fees?
    Moira,Great question. These are normaly difficult to see. You can contact your company contact that works with the admisistrator of the plan and ask for a copy of thier list of fees for the administration of the plan and the average Mutual Fund fees.Good luckDan...  (more)
    Answered May 2012
    I requested to withdraw my total funds from my account,when can I state the manner in which I want to receive my funds? lump sum or payment plan.?
    David,When you request a withdrawal from your 401k plan the withdrawal form should give you the option to choose how you want. You should consider some guidelines before you decide. Such as , are you seperated from service, are you of retirement age and do they have in service withdrawals. Work wit...  (more)
    Answered Sep 2012
    Am I eligible for retirement from Brown & Root?
    Noah,Contact the human resource department and give them your history of employment with B&R.They will research the plan documents for all employees at that time and tell you if you were qualified for a retirement pension of some sort.Good LuckDan...  (more)
    Answered Mar 2012
    I am witout a 401K at the moment. I will bne ab le to join my companies plan sonn. I need to find to roll over to a 401 plan I am acummulationg saving and it is just sitting in a savings account. I am a small invtesor compaired to most and I seem to a cold shoulder from invetmant firms.?
    Charles,I fully agree with Steve. Work with a Fee based advisor that will charge you an hourly rate for advice. The advisor that provides this type of service will take the appropriate time and analysis to fully understand your particular situation and provide meaningful feedback. If you work with...  (more)
    Answered Aug 2012
    Mother, recently deceased. What happens to her retirement benefits?
    Deborah,sorry to hear of your loss. There are a few steps to process in order to receive the benefits and assets of an deceased individual. Alot of it depends on who the executor of the estate is, who the beneficiaries are and what type of assets they are, ie; pension benefits, fixed benefits, 401k...  (more)
    Answered Oct 2013
    What target date funds would you recommend for someone who is in their 30s but is still focused on a low-risk portfolio?
    Parker,Target funds usually get more conservative as you get closer to the target date. If you are looking to be more conservative then consider a "allocation fund" that is conservative, balanced, or growth oriented. Also you may want to meet with an fee base adviser that can evaluate your individu...  (more)
    Answered Jul 2012
    I have a universal life policy for $150,000. I am 55, female, married. I want to purchase long term care insurance. How could I use my policy to purchase long term care insurance and is that a good idea? My husband does not need the life insurance money.
    Mark and Michael have made some very good points on this issue. These areas of financial planning can get complicated. Consider the purchase of a LTC policy that would offset the risk if needed, and if you never need it, the premium can be paid back to you in the form of a death benefit or return of...  (more)
    Answered May 2013
    Hi Ryan this is Randi-kay Bridgefarmer from KVH in Goldendale I'd like to cash out my retirement from the hospital. What do I need to do if anything? Thank you, Randi-kay?
    Hi Randi-kay,It depends on what type of retirement plan you have at the hospital. I processed a case recently for a Sr VP at Meridian Health Care Systems in NJ. This women had three plans she was participating in.1] 403b2] A Fixed annuity3] A fixed pensionDepending on which type of plan you hav...  (more)
    Answered Jul 2012
    My dad just retired at age 70 and wants to know if he should leave his 401k with his company or move it. Where would be the best place to move it?
    Donald,Your wise to get some feedback on a very important and critical question. There is no simple answer. My suggestion is to contact a fee based planner to have an open discussion on your dad's current situation and his desires for a comfortable retirement. Based on the results of that discussio...  (more)
    Answered Jan 2013
    $30,000 After tax contributions in my 401K. $282000 Total what is the best way to manage this preparing for retirement?
    There is alot of information that needs to be clarified through a discovery process before I or anyone can make a recommendation as to what to do. Keeping it in the same registration will allow you to maximize your tax deferred status. There is a stage called pre retirement, which is about five year...  (more)
    Answered Oct 2013
    Is it better to keep my extra "emergency" money in a savings account or a money market mutual fund?
    Mable,It is much better to keep your emergency funds in the savings account. It is easier to transfer the funds when needed and it will be FDIC insured by your bank. You may get a little better rate in a mutual fund MM but rates are so low, it probably is not worth the difference.Good Luck...  (more)
    Answered Jun 2012
    Life Insurance as an Investment?
    David,I very much agree with Russ. Life insurance and investments should be two seperate strategies for seperate objectives. Insurance in general compensates the agent with commissions and could cause a potential conflict of interest, on the other hand, there are insurance based products that are a...  (more)
    Answered Aug 2012
    I have an account with B Braun Medical. I wanted to know if I can control how the money is invested?
    I agree with George. Reference your statement and contact the custodian to clarify what type of an account this is. Then ask the custodian or the HR department if you have the option of reallocating your holdings.Good Luck,Dan...  (more)
    Answered May 2012
    My 401K was transferred from Newbury Corp to this company. Why don't I get statements any more and how can I see how much money mu 401k has in it?
    Evelyn, There could be a number of reasons why. However, in the absence of more information I would consider the following; The 401k may not yet have transferred[I had a case like that recently]/ You may only get quarterly statements from MU/. Try contacting your personnell benefits department and ...  (more)
    Answered Nov 2012
    How do i withdraw my 401K plan if i havent already?
    Teena,There are there are different ways to withdraw a 401k funds depending on the reason for the withdrawal. Is it a loan withdrawal, a outright withdrawal, a seperation of service withdrawal??In the absence of more details for your withdrawal, I would consider speaking to an advisor to help you ...  (more)
    Answered Nov 2012
    Does a 401K loan make sense if we have more money than is anticipated to be needed in it?
    First, I agree with alot of the other comments. However, you are borrowing from yourself and will also pay yourself back with interest, so it all ends up in the same pocket. Review a couple of issues and this will help you make a more informed decision. 1] Get a complete financial plan completed to...  (more)
    Answered Mar 2013
    What would my monthly income would be at the age of 60?
    Anthony,Depends on the following;1] your pension/Social Security payout/2] your accumulated assets at that time3] How long you expect to live.4] Do you have a desire to leave assets to your hiers.You really need to consult with a "Financial Advisor " to get a good idea.Good LuckDan...  (more)
    Answered May 2012
    I plan on retireing at age 66. I have about 700K in my 401k. Tax wise, what is it better to take money from my 401k now or wait and take the manditory withdrawals.?
    keith, Weather you take distributions from your account now or wait for the RMD timeline has no bearing on the taxes you will pay. What has a bearing on how much tax you will pay will be directly related to how much you withdraw. There are strategies in which you can reallocate these funds so that ...  (more)
    Answered Aug 2012
    What is the time limit to pay out 401k on a plant closure?
    Patrick,Good question. I am currently closing a nationwide 401k plan now. When the plant closes, you will have 3-4 months to transfer your 401k account out. If you don't, you will be charged a fee to keep the account there or depending on the administrator, have the account transferred out. Call th...  (more)
    Answered May 2012
    I'm 58 yrs old, currently with JNJ. I do have a pretty good 401 k plan. Can you recomm a financial plan.in my area.
    Greg, Working with an adviser that will provide the highest probability of success in achieving one’s goals with ease of accessibility should provide comfort. Hopefully you will find both.With today’s advancement in technology providing conferencing capabilities and ease of communication our firm ...  (more)
    Answered Aug 2013
    What type of advisor would you recommend that has older clients and has experience in eldercare and financial planning. We are not eligible for Long Term Care Insurance and want to maximize income so we do not run out of money before death.?
    Gloria,Helen and Steve are on mark. You will be better off in working with a team of advisors that specialize in different aspects of this type of situation. Talk to a couple of different advisors to get a feel of how each would approach your situation.Good Luck,Dan...  (more)
    Answered Jul 2012
    I have $30K in a 403b at an old employer. Insurance salesman is suggesting rolling that into a variable annuity. Thanks?
    Hi,First, It does'nt sound like you are convinced that the annuity is the way to go. So that said, do'nt make any rash decisions until you have done all your homework. I would take a step back and assess your current situation in life and do some financial planning for your future. An annuity may o...  (more)
    Answered Sep 2013
    Taxing on deferred annuity payments?
    Liam,Previous comments are on mark. Withdrawing an annuity prior to 59.5 yrs old will trigger an IRS penalty of 10% plus whatever tax bracket you are in. And, depending on how the annuity is structure for distribution either all the distribution will be subject to taxes and penalties or just the ga...  (more)
    Answered May 2012
    I am researching my Pension of 11 years, would like to update to other accounts!!!?
    Please provide more detailes as what advice you need. ...  (more)
    Answered Oct 2012
    I have a 401k with a big companies but iam not seeing the matching parts why not?
    Roger, It depends on which statement you are looking at. Some co.'s only make the contribution monthly.Good LuckDan...  (more)
    Answered Nov 2012
    I'm a retirement specialist and new to BrightScope. How can I prospect 401k plans in my area? Example New York City areas?
    John,Contact your plan /401k provider[Fidelity, Nationwide ...]. They have a list of plans in your area that need an advisor or that you can prospect.DC ...  (more)
    Answered Mar 2012
    I have about 245,000 in my 401k....am I on target for my retirement ? I'l be 53 next week.....?
    Brian,Your question needs more detailes before a quality answer can be presented. That being said, you should consider some of the following in order to formulate an answer.1] When will you retire?2] How much income will you need in retirement and for how long?3] What type of goals will you have...  (more)
    Answered Jun 2012
    DIVORCE SETTLEMENT?
    Kim,These QUADRO settlements are fairly easy to transfer. . Get a copy of the 401k statement. Ask the plan administrator what they need in order to transfer the account to your name. Complete the paperwork and then submit to the custodian for transfer. Working with a Financial Adviser may make this...  (more)
    Answered May 2012
    Which companies offer money market accounts -- i.e., FDIC insured -- to 401(k) plans?
    There are no 401k plans that offer FDIC money market options. Your best choice for this is a plan that offers money market options that are backed by the plan providers... Fidelity, Nationwide ect...Good LuckDan...  (more)
    Answered Nov 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
        Nov 17, 2018
      FINRA
      FINRA
      • license status
        Registered
      • disclosures
        None
      • as of date
        Nov 17, 2018
      Review the status and details of the disclosures noted above using the SEC's Investment Advisor Public Disclosure website:

      Assets

      Advisor

      Last updated on Nov. 18, 2018
        • $120.0M
          Total Assets Under Management
        • $0
          Total Assets Under Advisement
        • 120
          number of clients
        • $1.0M
          Estimated Average Account Balance Per Client

      Cetera Advisors LLC

      Last updated on Oct. 4, 2019
        • $12.2B
          Total Assets Under Management
        • N/A
          Total Assets Under Advisement
        • 59K
          Accounts
        • $209.3K
          Estimated Average Account Balance

      Fees

      Types of Compensation Arrangements