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While the show typically focuses on financial education, this installment is dedicated to discussing Uncommon Cents Investing’s services and what they do for their clients.
The core of their business is investment management, which they handle proactively, reviewing client accounts frequently. However, a significant focus is placed on offering services that go beyond just investment management. They emphasize that a local financial advisor can provide value that you often cannot get from a 1-800 number, sometimes even at a lower or comparable cost.
The episode details a wide range of comprehensive financial planning and consulting services, including assisting clients with:
•Navigating finances related to aging parents.
•Understanding Wisconsin pension eligibility.
•Determining the optimal time to take Social Security using specialized software.
•Handling issues with long-term care contracts, such as premium increases.
•Managing Required Minimum Distributions (RMDs) for those age 73 and older.
•Facilitating Qualified Charitable Distributions (QCDs) from IRAs.
•Assisting with IRA contributions and Backdoor IRAs.
•Planning for non-spouse inherited IRAs subject to the 10-year rule.
•Engaging in tax planning conversations, including income planning and Roth conversions.
•Providing quick verification of assets when time-sensitive needs arise, even on weekends.
•Offering guidance during the transition into retirement.
•Providing support and direction for finances after the death of a spouse.
•Helping clients make decisions regarding Medicare options.
They highlight their proactive approach through services like annual reviews, educational events, newsletters, and videos. The firm values building relationships with clients, understanding their backgrounds and emotional perspectives, which influences investment decisions and helps prevent mistakes during market volatility.
Uncommon Cents Investing emphasizes being available when clients need them and contrasts their personalized approach with the difficulty of getting specific help from large 1-800 firms.
Regarding their investment approach, they perform in-house research on individual stocks, which they state contributes to their ability to be competitive on fees by avoiding third-party costs. They also discuss their philosophy on insurance products, noting they generally prefer alternatives and would refer clients to trusted specialists if an insurance product is truly necessary. They mention using AI for internal efficiencies, but not for core financial planning or portfolio management. The firm confirms they are fiduciaries.