Activation
Plan Guidance
Onboarding
Client Experience
We offer services in these three areas:
Grow
Prepare for retirement by putting your hard-earned assets to work.
How?
Retirement Income Strategies
Wealth Management
Annuities
Investments
IRA/401(k) Rollovers
Social Security Strategies
Preserve
Protect the assets that can help you live the retirement you’ve always imagined.
How?
Risk Number Alignment
Asset Protection Strategies
Life Insurance
Tax-Efficient Strategies
Long-Term Care Strategies
Give
Provide for the people and causes you care about the most.
How?
IRA Legacy Planning
Charitable Giving
Qualified Charitable Distributions
We can also refer you to professionals who can assist with the following services:
Trusts
Probate
Estate Planning
Tax Planning
Richmond Brothers Philosophy
What are Richmond Brothers' core beliefs when it comes to managing retirement portfolios for our family of clients?
Having helped our family of clients for 30 years, we know that planning for retirement has changed…a lot. With the dot com bubble in the early 2000’s, and then the banking meltdown in 2008, we’ve seen some major shifts in the economic landscape.
A trend we’ve taken notice of here at Richmond Brothers are the more frequent occurrences of bear markets than we’ve seen in the last few decades. A bear market is when the market drops 20%. We came close in 2018 when the market dipped to 19.8% according to The Washington Post. And we experienced a bear market in 2020 and 2022 as reported by AP News and CNBC.
To put that in perspective, before 2020 we experienced a bear market in 2007, 2000, and 1987 according to Yardeni Research, Inc. It’s now more important than ever to make sure you have the right protection strategies in place when it comes to your retirement. Without it, you could risk running out of money before your retirement years are done. That’s why we stress the importance of creating predictable and reliable income strategies, rather than hoping the markets will always cooperate.
In our current economic times, depending on appreciation is too risky considering the ups and downs of the market. Your retirement needs to last 20, 30, or even 40 years. And without the right plan in place, it’s possible to run out of income too soon. A good plan takes into account changes in the market, your acceptable level of risk, and the need for creating secure, reliable income for life.
So where do we go from here?
At Richmond Brothers, we believe in doing right by our clients. Whether you are currently planning for retirement or already in that wonderful phase of your life, we keep your risk tolerance at the heart of the plan we co-create. Our goal is not necessarily to beat the broad market at all times but instead to provide a blend of strategies for our client family members. In the long-run, we aim to help protect your assets, create income streams from safer sources, and have opportunities for growth. In good economic times, while our "safer" or "more defensive" assets could weigh us down, they're also a vital source of comfort when the market and the economy are cooling off, or even in trouble.
Managing your financial picture is considerably different in retirement; no longer are you earning a paycheck – you have transitioned to drawing a paycheck from what you’ve worked so hard to build up during your working years. Preserving your savings is critical to limiting your downside risk; here at Richmond Brothers we determine your actual risk tolerance first (in correlation with your goals) before customizing a unique plan detailing where to allocate your assets and help protect your hard-earned dollars.
It may be tempting to rely on appreciation to provide monthly income during your retirement; however, a bad sequence of market returns in the early years of your retirement can easily blow an otherwise nicely laid out retirement plan.
We aspire to generate all your monthly income from safer sources. Whether markets are up or down, this strategy may help limit risk exposure. Where your assets are held is of utmost importance and must be continuously monitored. We help you create the most efficient and effective income plan by integrating all the sources available to you, from your retirement accounts like IRAs and 401ks, to Social Security, pensions, rental income, and annuities, just to name a few.
Additionally, the risk of any given investment and your personal risk tolerance may change over time due to the environment. We continually monitor and revise your plan as necessary, working closely with you as your goals may shift over time.
As a supplement to your safer income plan, we believe in using a growth strategy (or “bucket”) to help offset inflation over a period of time. In the early 2000s, interest rates were low and inflation was minimal, but times have certainly changed. In 2022, inflation reached its peak and continues to be volatile. We continue to watch what’s happening week-to-week and month-to-month, but we are most interested in trends and the bigger picture. Our goal is to help ensure your savings will keep up for your needs throughout your lifetime, no matter where the inflation rate lies.
Let’s Get Started
Fill out the form below to schedule your one-on-one meeting with Richmond Brothers. During this meeting, we’ll aim to get to know who you are and what you want out of retirement.
