Retirement Planners of America, formerly known as Money Matters with Ken Moraif, is a large financial advisor firm located in the Dallas suburb of Plano, Texas with more than $4 billion in assets under management (AUM). The firm helps with a wide range of financial services, from investment management and advising to long- and short-term financial planning.
Since 1996, firm founder Ken Moraif has hosted a radio show called "Money Matters with Ken Moraif" that helps both retirees and soon-to-be retirees with various aspects of financial planning. He's also a certified financial planner (CFP) and was listed as one of Barron's top 100 independent financial advisors in the U.S. from 2012 to 2016.
Retirement Planners of America is a fee-based financial advisor firm. This means that while it still generates renevue from charging clients fees, some of its advisors also earn a commission from the sale of insurance products. This is markedly different from a fee-only firm, which only receives client-based fees.
Retirement Planners of America Background
Retirement Planners of America was founded in 2011 by Ken Moraif. At this time, the name of the firm was Money Matters with Ken Moraif, but it switched to its current name in 2019. The firm is employee-owned, with founder Ken Moraif and senior advisors Elias Dragon, Douglas Bartol and Charles Dyer, Jr. acting as principal owners.
The firm employs 35 advisors that hold designations including CFP, chartered financial consultant (ChFC), chartered retirement planning counselor (CRPC) and more. General investment management and financial planning are the hallmark offerings of the firm.
What Types of Clients Does Retirement Planners of America Accept?
Retirement Planners of America works almost exclusively with individual clients, the vast majority of whom fall below the high net worth mark. The firm also manages the assets of a select few pension and profit-sharing plans.
Retirement Planners of America Minimum Account Size
Retirement Planners of America does not have a minimum account size for any of their accounts. That being said, the firm's advisors may turn you away if your account balance is deemed to be too small to manage effectively.
Services Offered by Retirement Planners of America
Retirement Planners of America offers portfolio management as well as several financial planning services, including retirement planning, estate planning, tax planning and long-term care planning. If clients so choose, it does offer discretionary investment services via a wrap-fee program. The firm also runs financial planning seminars.
Retirement Planners of America Investment Philosophy
Retirement Planners of America looks to develop relationships with all its clients in order to help them meet their individual investment goals. The firm manages portfolios on a discretionary basis, but clients have significant input and can, to a certain extent, direct portfolio allocation as they see fit.
Advisors look to cut down risk and volatility by rebalancing portfolios at least once a quarter. A range of asset classes are recommended, but the firm tends to focus on mutual funds, variable annuities and other asset classes that are geared towards retirement. These mutual funds often invest in various stocks and bonds, but the firm may choose those that invest in other securities as well.
Fees Under Retirement Planners of America
Retirement Planners of America has a simple fee schedule, charging a flat 1.25% annual fee based on clients' total AUM. This fee may be negotiated lower under certain circumstances. Annual fees are payable on a quarterly basis, in arrears. The firm does not charge performance based fees.
What to Watch Out For
Retirement Planners of America is a fee-based firm, and its financial advisors are licensed insurance agents. As a result, these advisors can earn a commission for the sale of insurance products to clients. While this creates the potential for a conflict of interest, the firm is bound by fiduciary duty, which legally obliges advisors to act in your best interest at all times.
Opening an Account With Retirement Planners of America
If you're interested in opening an account with Retirement Planners of America, you can go to its website and submit a form on the "I Want to Meet With an Advisor" page. You can also call them at (469) 246-3600 if you prefer to work over the phone. Your physical proximity to a Retirement Planners of America office location will not impact your ability to open an account.
Where Is Retirement Planners of America Located?
Retirement Planners of America is heaquartered in Plano, Texas, just north of Dallas, at 2820 Dallas Parkway. They have five other offices in Texas, four in southern California, three in Arizona and one in Oklahoma City.
Tips for Financial Planning
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- When putting together a retirement income plan, don't forget to take into account Social Security payments. While it probably won't be enough to cover all of your expenses, it can supplement your savings. Figure out how much you have coming your way using our Social Security calculator.