Financial Advisor News

Piedmont, CA

Financial Advisor News

logo-map-icon

Piedmont, CA

by: ALISON VAN DYKE

FIRST AND MAIN FINANCIAL

(510) 601-1935

Oakland, CA | East Bay; Financial Advice on 401(k)Plans

What’s the Role of a Financial Advisor?

I’m Erik Wolfers. I’m the managing member of First & Main Financial. We’ve been helping individuals with their finances since 2001. Today I’m going to talk a little bit about 401K plans. In the nearly two decades that I’ve been advising individuals, I’ve looked at hundreds of 401K plans. Most 401K plans, or many 401k plans have actively managed mutual funds inside of them and the advisor on these plans then has the job of working with plan sponsors to make sure that the funds are still good and relevant from one year to the next. Sometimes a fun underperforms but then it turns around, so that’s a challenge to try to guess if a underperforming fund is going to continue to do so or is going to turn around and perform as it has in the past; if it has a long track record.

There are many 401K plans that have passive investment vehicles or index funds. With an index fund you should expect a certain return over a long period of time, and then what does the advisor do on these plans?

The way we do 401k plans, as the advisor, we spend our time consulting with the participants with the plan. The 401k industry provides a lot of self-help, but in my experience, some time and individual attention with the participant of the plan can potentially have an enormous impact on the outcome of their wealth over time, over several decades.

Sometimes, people have limited experience with investing. They don’t know how much to save, they don’t know what the proper asset allocation is and they don’t necessarily trust the online tools—and they shouldn’t necessarily either because the advice is generally generic.

So, that’s the way we do 401k plans is to actually advise the participants of the plan and it has a big positive impact, generally, for the people that seek our advice in the plans. It’s a better way of doing things.

If you are looking for some financial guidance; whether for a one time financial plan or continuing advice on your investments, we invite you to meet with a First & Main Financial planner for a free consultation. We would be more than happy to sit down with you, assess your situation and review our services to help navigate your financial future.

Recent

“Best Financial Advisor in Piedmont, CA”

Top Rated Local Financial Advisor / Planner

East Bay Area: Piedmont, Oakland, Berkeley, Alameda, Orinda, CA

Ad Ad

Recent

“Best Financial Advisor in Piedmont, CA”

Top Rated Local Financial Advisor / Planner

East Bay Area: Piedmont, Oakland, Berkeley, Alameda, Orinda, CA

ABOUT CITYSCOOP

logo-map-iconLOCAL NEWS
LOCAL EXPERTS

LOCAL NEWS - LOCAL EXPERTS
logo-map-icon

CityScoop is a network of business owners from across the U.S. and we publish articles about our clients and the projects we are working on in our businesses.  Take a look at some of our recent projects and videos and get a glimpse of how we help our customers.

EXCLUSIVE | We accept only one local expert business per category in each city.

CS CERTIFIED | All our writers must pass a basic background check and be able to demonstrate extensive knowledge in their field.

Are you a business owner?  Join us.

Click here for more info.

About Cityscoop
Profile Avatar Logo

BIO: At First & Main Financial, Alison Van Dyke helps clients with their financial lives. She has worked in Corporate Finance for Bank of America and Chase Manhattan Bank. Alison is pursuing the CFP® certification; she received her MBA at Georgetown and her B.A. in Political Science from UCLA.

235 Wildwood Avenue,
Piedmont, CA 94610, USA

(Get Directions)

Get Directions

235 Wildwood Avenue,
Piedmont, CA 94610, USA

Please wait...

BIO: At First & Main Financial, Alison Van Dyke helps clients with their financial lives. She has worked in Corporate Finance for Bank of America and Chase Manhattan Bank. Alison is pursuing the CFP® certification; she received her MBA at Georgetown and her B.A. in Political Science from UCLA.