2017 CRN Golf Tournament
Baer Wealth Management participated in the 2017 Children’s Restoration Network (CRN) Golf Tournament on May 15th at the Laurel Springs Golf Club in Suwanee, Georgia . Our team (Tim O’Brien, Chris LaHay, Mark Beal, and Brett O’Brien) won 3rd place. The tournament raised funding for CRN’s HeadSmart Campaign which consists of multiple programs that provide academic and financial tools for homeless children in Atlanta. We are proud to support an organization like CRN that has been dedicated to serving our community for over 23 years! To learn more about CRN, visit its website: www.ChildRN.org.
Our Personal Wealth Advisor, Mark Beal, is Now a CERTIFIED FINANCIAL PLANNER™
Mark Beal Awarded CFP® Certification
MARIETTA, GA (March 24, 2017) – Mark Beal, CFP®, Personal Wealth Advisor at Baer Wealth Management in Marietta, GA has been authorized by the Certified Financial Planner Board of Standards (CFP Board) to use the CERTIFIED FINANCIAL PLANNER™ and CFP® certification marks in accordance with CFP Board certification and renewal requirements. Mr. Beal has worked at Baer Wealth Management since 2015 and is responsible for matching investment and financial planning strategies to clients’ goals while helping professionals, families and business owners realize financial independence.
The CFP® marks identify those individuals who have met the rigorous experience and ethical requirements of the CFP Board, have successfully completed financial planning coursework and have passed the CFP® Certification Examination covering the following areas: the financial planning process, risk management, investments, tax planning and management, retirement and employee benefits, and estate planning. CFP® professionals also agree to meet ongoing continuing education requirements and to uphold CFP Board’s Code of Ethics and Professional Responsibility, Rules of Conduct and Financial Planning Practice Standards.
CFP Board is a nonprofit certification organization with a mission to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning. CFP Board owns the certification marks CFP®, Certified Financial Planner™ and federally registered CFP (with plaque design) and CFP (with flame design) in the U.S., which it awards to individuals who successfully complete initial and ongoing certification requirements. CFP Board currently authorizes more than 76,000 individuals to use these marks in the United States. For more about CFP Board, visit www.CFP.net.
With Years of Experience, Baer Wealth is Often Featured in Media Outlets
Published Articles Written About Us:
MARIETTA daily journal - 20,000 is just a number, say money experts
marietta daily journal - Cobb County's Business People Comment On Interest Rate
marietta daily journal - Cobb Financial Advisor, Economist React to Stock Market's Fluctuation
Published Articles Written By Us:
CHRISTIAN Science MonitoR -A Modest Janitor built N $8 mILLION FORTUNE. so CAN yOU bY kENNY bAER, cfp®
Investment Advisor | The Future of Advice
By Kenny Baer, CFP®., Bill Baer
Dynasty Investing: Saban, Parcells, Lombardi
By Kenny Baer, CFP®.
An Entrepreneur's Last Chance
An individual who had become dissatisfied with his previous advisory relationship with a large, well-known wirehouse was introduced to us by his banker. He is an entrepreneur who has had many roller coaster rides during the course of his working life. He has owned several businesses during his career and two are still operating and profitable. In the past 18 months, he has entered into a new venture that is producing excess cash flow in the amount of $100k per month. His question to us was “What do I do with the extra money?” The right question and what ultimately mattered to him was "How do I protect myself so that I no longer have to have the wild successes and failures of the past?" Being over 60, he knew that this was his last chance at lasting success and financial independence.
The natural instinct was to show an investment portfolio that would generate x return and leave him with y dollars after ____ number of years. But as I mentioned above, the real issue was digging deeper to solve and avoid any problems that he had experienced in the past.
We first coordinated a meeting with an estate attorney who has done great work in transferring the assets of one of his companies to family members; the family members who run the day to day operations. This has freed-up cash flow from the business and will also provide a stream of income for a specified number of years for our client on a tax-favorable basis.
The second item is locking up the key executive of the business who is driving a large amount of excess cash flow through a fair incentive program. This individual is instrumental in running the day to day operations and generating revenue. A very important item to consider is to make sure that legally this employee is loyal to the employer through a strong incentive plan.
The bottom line: By listening and digging deeper, we were able to solve problems that our client faced now and avoid problems that he has faced in the past, the transfer of one of his businesses and structuring a proper incentive plan for a key executive. By taking the extra steps, we are able to be more than an investment manager to this client - we are his valued advisor.
Alzheimer Communication Between Siblings
The story begins with a mother diagnosed with Alzheimer's and the deep sense of loss that accompanies such tradegic discoveries. Her assets totaled $10 million, including the value of the family business, four homes, life insurance coverage, financial partnerships, and other assets. With her fortunate circumstances, she was generous to her children, based on her loving belief that "What's mine is (or will be) yours." Everybody was sure her finances were more than ample to secure her and her family's future.
We launched into a deep analysis of the matriarch's finances. We also listened carefully to the family's values and intentions, matching them to what we were discovering about her wealth. After all, behind the emotional ideal of generosity must stand a strong dose of practicality. We were respectful of the fact that, in family relationships, being practical can sometimes require discussing tough issues and understanding that everyone's security needs to be part of the mix. We uncovered that Mom had more debt than she or the family realized and expenses on her four homes were draining her cash flow. As a result, her frequent large gifting to her children was actually too generous to be supportable over the long run. It was a shock to the family that Mom would run out of money for herself at age 75.
Decisive steps had to be taken. As is often our model, our first step was to begin hosting a series of family meetings so the siblings could talk as a group and share hard decisions on behalf of their mother and themselves. Our job was to listen sensitively yet facilitate some very tough conversations about priorities. The outcome was a living testament to their values of responsibility and mutual support. With their blessing, we restructured the mother's life insurance for double the coverage without any premium increase. We also restructured a $5 million line of bank credit at the peak of the financial crisis, which gave the children more flexibility in expanding the family business to grow everyone's assets. A protocol was created for selling two of the four houses and gifting the third to the children through a common but intricate estate planning procedure. One of the family's limited partnerships was sold, freeing up cash. And with our help, the siblings set rules for themselves about how to access their mother's funds when there was a specific need. Even better, they decided to set up a family foundation for charitable giving to others who were less fortunate than themselves.
The bottom line: The tangible problem behind the appearance of "plenty" was a drastic need for cash flow planning for Mom while still helping her grown children. The delicate issue was the need for the family to work together, make difficult decisions, and set a new path with balanced priorities. We did this by talking, listening, and helping – with the family's values always at the forefront.
The managed assets of this client’s portfolio have returned a compounded rate of 6.8% since January of 2009; she is invested in our conservative growth portfolio.