Altruist Financial Advisors

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Mon - Fri:	9:00 am - 5:00 pm

Places Near Holland with Investment Advisory Service

Saugatuck (4 miles)
Douglas (6 miles)
Macatawa (9 miles)
Fennville (13 miles)
Hamilton (15 miles)

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TollFree: (877) 276-9429

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Altruist Financial Advisors LLC

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http://www.altruistfa.com

http://www.altruistfa.com/contactinfo.htm

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Investment Advisory Service, Annuities & Retirement Insurance Plans, Financial Planners, Financial Planning Consultants, Financial Services, Insurance, Investment Management, Investments, Mutual Funds, Retirement Planning Services, Stock & Bond Brokers

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Phone: (269) 857-2743

Address: 3754 65th St, Holland, MI 49423

Website: http://www.altruistfa.com

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Altruist Financial Advisors

Tax Planning
Charitable Giving
Estate planning is extremely important for wealthy individuals who wish to maximize the amount of assets passed on to heirs. In general, it is important that estate planning be done by an expert — usually a lawyer who specializes in this area. The below articles discuss investment aspects of estate planning. Also, see Charitable Giving.
Tax Services
Andrew L. Berkin and Jia Ye, "Tax Management, Loss Harvesting, and HIFO Accounting," Financial Analysts Journal, July/August 2003 pp. 91-102. " Our findings show that no matter what market environment occurs in the future, managing a portfolio in a tax-efficient manner gives substantially better after-tax performance than a simple index fund [i.e., a buy and hold routine], both before and after liquidation of the portfolio. "
Roth IRA
Leonard E. Burman, William G. Gale, and David Weiner, " The Taxation of Retirement Saving: Choosing Between Front-Loaded and Back-Loaded Options," Brookings Institution, May 2001. This paper also appeared in National Tax Journal, Vol 54 No. 3 2001, pp. 689-702. " Despite the fact that effective tax rates on [traditional] IRAs were generally negative, many investors would have benefited from contributing to a Roth instead of a traditional IRA over the 1982-95 time period because of the larger effective sheltering provided by a Roth IRA. "
Tax Deductions
There are several tax-advantaged means of saving for college. For most people, 529 savings plans are the best choice. If your state offers tax-deductions for contributions to your state's plan, you should consider (the direct purchased version of) that plan (i.e., don't buy it through a financial adviser). Otherwise, you should consider one of the low-cost alternatives (e.g., Utah ’s, Ohio ’s, or Vanguard ’s plan). For information on all 529 plans, see SavingforCollege.com. Note that, if you choose another state's plan, it may be necessary to transfer it back to your state's plan immediately before college in order to avoid taxation of withdrawals by your state.
Income Tax
U.S. REITs generally should not be held in taxable accounts. However, this issue is a bit more complex for foreign holdings. If held in a taxable account, you can recover the foreign tax withholding via the foreign tax credit. But that would also subject the fund's dividends to relatively high income tax rates. You can defer the income tax by putting it in a retirement account, but then you permanently lose the foreign taxes. It isn't clear to us the best way to use these (i.e., in a taxable account or in a retirement account).
Tax Deferral
Avoid Variable Annuities. All except the lowest cost Variable Annuities are appropriate investment products for almost nobody. Their high fees usually dramatically exceed whatever benefit of tax-deferral they might promise. The extent of the fees is scandalous: it is not unusual for annual fees to be two to three percentage points higher than necessary. If you realize the extent of the high annual fees and desire to roll it over to a lower fee Variable Annuity, you often are charged outrageous "surrender fees" of as high as 10 percent or more.
Capital Gains Taxes
SPDR S&P International Small Cap ETF (GWX). E/R: 0.40%. This ETF invests in companies with market capitalizations below $2 billion domiciled in developed countries outside the U.S. We ranked this fund above DFISX primarily because we expect it to be more tax-efficient (i.e., as an ETF, we expect it to be perfectly capital-gains tax-efficient). We ranked this fund above DLS primarily because it is more diversified (i.e., it includes non-dividend paying stocks).

Investment Management
The cost of a financial plan and subsequent investment management can vary considerably, so it is important to compare. Here’s an example of what you can expect from Altruist and what you might see from a typical competitor for a financial plan and assets under management of $6,000,000.
Mutual Funds
We are often asked which mutual funds we recommend in various asset classes. After applying our stringent selection criteria, it often comes down to Vanguard and DFA mutual funds.
Bonds
Wealth Management
Roberta Gamba, "Executive Compensation: An Analytical Approach to Diversification of Concentrated Positions," Journal of Wealth Management, Fall 2002, pp. 23-29. This article discusses a computer program which assesses the benefits of diversification against the tax cost and opportunity cost of doing so.
Money Market Funds
Dale L. Domian and William Reichenstein, "Performance and Persistence in Money Market Fund Returns," Financial Services Review, 1997 Vol 6, pp. 169-183. This paper confirms strong persistence in money market mutual funds due principally to the almost perfect negative correlation of expenses and performance. The paper strongly supports the prudence of a strategy of selecting money market funds by cost (i.e., choosing no-load funds with the lowest expense ratios).

Accounting Services
Payroll Services

Financial Planning
Is intended to focus exclusively on investments. This is unlike the comprehensive "holistic" approach used in our financial planning services. The ALTRUIST
Retirement Planning
This section addresses issues related to use of Defined Benefit Pension Plans. Also, see Retirement Investing, Defined Contribution Pension Plan Design, and Pension Fund Management.
Annuities
Vanguard Variable Annuity Real Estate Index Subaccount. E/R: 0.26%. This variable annuity subaccount tracks the MSCI US Investable Market Real Estate 25/50 Index—an index of equity REITs and other real-estate related investments. REITs are, by their very nature, quite tax-inefficient. You should generally avoid having them in taxable accounts in the first place. But if you must, it MAY be a good idea to do it inside a non-qualified Variable Annuity (which means it wouldn't really be in a taxable account after all). For the most part, this recommendation only applies if you already own a variable annuity — in general, we don't suggest going out and buying a variable annuity just to invest in this subaccount. A variable annuity is a VERY long-term investment with relatively little flexibility. For more info on variable annuities, see the papers and articles here. Most Variable Annuities are VERY bad deals.
Long Term Care
"Do You Need Long-Term Care Insurance?," Consumer Reports, November 2003, pp. 20-24. See this summary rating. Good objective advice on this issue.
Asset Management
Investing Plan, Altruist will assist you in developing a completely custom asset allocation, including tax-sensitive asset location and specific investment recommendations.
Living Trusts
Jay S. Goldenberg, " The Living Trust for Estate and Financial Planning," Journal of Financial Planning, Summer 1980, pp. 217-227. Also here. A good primer on Revocable Living Trusts and trusts in general.
Charitable Remainder Trusts
Lawrence C. Phillips and Thomas R. Robinson, "Charitable Remainder Trust: A Powerful Financial Planning Tool," Journal of Financial Planning, August 1997, pp. 70-76. A good primer on Charitable Remainder Trusts.
College Funding
Andy Terry and William C. Goolsby, " Section 529 Plans as Retirement Accounts," Financial Services Review, 12 (2003), pp. 309-318. An extremely interesting paper which concludes that 529 college savings plans might be a better vehicle to save for retirement than either an ordinary taxable account or Variable Annuities. This also suggests that, if the beneficiary doesn't use the entire account for qualified education expenses, the remaining expenses MAY make a reasonable retirement savings vehicle.
Mortgage Refinancing
Mortgage refinancing is largely an investing issue. Homeowners are always wondering whether they should refinance, whether they should take additional cash out of their homes, what term of mortgage should they get, what points should they pay, etc.
Asset Protection
Mark C. Neath, " Section 529 Prepaid Tuition Plans: A Low Risk Investment with Surprising Applications," Journal of Financial Planning, April 2002, pp. 92-98. " In short, Section 529 plans promise to become an important tool for financial planners, not only for college savings, but for a wide range of asset protection, estate planning and other financial planning goals. "

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