Focus Wealth Management provides financial advice to high net-worth individuals and pension plans. It currently manages assets in excess of seven million dollars. Newburgh is the home of the company. The company offers more than just investment management services.
The company was founded in 1994 by Philip J. DeAngelo and Rich Miller. According to the company's website the focus of the company is to identify the best investments for high net-worth clients. Proper asset allocation is key to long-term success, they believe.
The company's investment committee monitors client accounts, and analyzes fixed-income options and equity options. When choosing the best asset managers for clients, the company takes into account a variety of factors. In choosing ETFs, stability is a key factor. The company ensures that it is up-to-date on all developments in the securities and economic markets.
The company provides financial planning, investment management and wealth transfer services. The company's representatives also have insurance licenses. Some products may allow them to receive commissions. Focus Wealth Management cautions clients about potential conflicts of interests.
A wrap fee program is available that allows you to bundle advisory services. The wrap fee depends on the client’s assets. The amount charged is usually between $2 million-$5 million. Focus Wealth Management won't charge extra if the client doesn't meet the minimum.
The firm also has an online platform, which can be accessed through Charles Schwab. With the help of a virtual advisor, clients can access their accounts to review their investments and view their portfolios. Additionally, the firm provides financial planning services through its partner, Ameriprise Financial Services.
The firm's Managing Executive, Paul Ross, has over twenty years of experience. He also has more than fifty independent professional representatives. The group oversees over $1 billion of client assets.
The firm uses a combination of index funds, mutual funds, and exchange-traded funds (ETFs) to achieve its goal of investing for clients. Focus Wealth Management currently serves high-net worth individuals and their families. These clients can have many investments including equities as well as exchange-traded and fixed-income funds.
A Certified Public Accounting and a Certified Financial Planner are part of the company's advisory panel. River Capital Advisors founder is also a Certified Public Accountant. The stock selection for the company includes both long-term purchases and short sales. Options trading is also an option. Fundamental analysis is also important to the firm.
Although the representatives of the company are licensed agents in insurance, they are not permitted to sell products for which the company has received commissions. Instead, the representative must explain to the client any potential conflicts of interests. So the client can make informed decisions based on his/her comfort level.
The company offers holistic advice to its clients, regardless of what service or product they offer. The firm's ultimate goal, however, is to maximize clients' wealth.
FAQ
How can a beginner generate passive income?
Begin with the basics. Next, learn how you can create value for yourself and then look at ways to make money.
You might even already have some ideas. If you do, great! However, if not, think about what you can do to add value to the world and how you can put those thoughts into action.
Finding a job that matches your interests and skills is the best way to make money online.
You can create websites or apps that you love, and generate revenue while sleeping.
If you are more interested in writing, reviewing products might be a good option. Or if you're creative, you might consider designing logos or artwork for clients.
No matter what you choose to concentrate on, it is important that you pick something you love. You'll be more likely to stick with it over the long-term.
Once you have discovered a product or service that you are passionate about helping others purchase, you need to figure how to market it.
There are two main approaches to this. You could charge a flat rate (like a freelancer), or per project (like an agencies).
In either case, once you've set your rates, you'll need to promote them. It can be shared on social media or by emailing your contacts, posting flyers, and many other things.
These three tips will help you increase your chances for success when marketing your business.
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When marketing, be a professional. You never know who may be reading your content.
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Know what you are talking about. Before you start to talk about your topic, make sure that you have a thorough understanding of the subject. Fake experts are not appreciated.
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Avoid spamming - unless someone specifically requests information, don't email everyone in your contact list. For a recommendation, email it to the person who asked.
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Make sure to choose a quality email provider. Yahoo Mail, Gmail, and Yahoo Mail are both free.
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Monitor your results - track how many people open your messages, click links, and sign up for your mailing lists.
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Your ROI can be measured by measuring how many leads each campaign generates and which campaigns convert the most.
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Get feedback. Ask friends and relatives if they would be interested and receive honest feedback.
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Test different tactics - try multiple strategies to see which ones work better.
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Continue to learn - keep learning so that you remain relevant as a marketer.
What is personal finance?
Personal finance refers to managing your finances in order to achieve your personal and professional goals. It is about understanding your finances, knowing your budget, and balancing your desires against your needs.
By mastering these skills, you'll become financially independent, which means you don't depend on anyone else to provide for you. You won't have to worry about paying rent, utilities or other bills each month.
And learning how to manage your money doesn't just help you get ahead. It will make you happier. If you are happy with your finances, you will be less stressed and more likely to get promoted quickly.
What does personal finance matter to you? Everyone does! Personal finance is one of the most popular topics on the Internet today. Google Trends reports that the number of searches for "personal financial" has increased by 1,600% since 2004.
People use their smartphones today to manage their finances, compare prices and build wealth. You can read blogs such as this one, view videos on YouTube about personal finances, and listen to podcasts that discuss investing.
Bankrate.com says that Americans spend on the average of four hours per day watching TV and listening to music. They also spend time surfing the Web, reading books, or talking with their friends. That leaves only two hours a day to do everything else that matters.
When you master personal finance, you'll be able to take advantage of that time.
How to make passive income?
To earn consistent earnings from the same source, it is important to understand why people make purchases.
That means understanding their needs and wants. Learn how to connect with people to make them feel valued and be able to sell to them.
You must then figure out how you can convert leads into customers. To retain happy customers, you need to be able to provide excellent customer service.
Even though it may seem counterintuitive, every product or service has its buyer. If you know who this buyer is, your entire business can be built around him/her.
To become a millionaire takes hard work. To become a billionaire, it takes more effort. Why? It is because you have to first become a 1,000aire before you can become a millionaire.
Then you must become a millionaire. And finally, you have to become a billionaire. You can also become a billionaire.
So how does someone become a billionaire? Well, it starts with being a thousandaire. You only need to begin making money in order to reach this goal.
Before you can start making money, however, you must get started. Let's now talk about how you can get started.
What is the difference between passive and active income?
Passive income can be defined as a way to make passive income without any work. Active income requires work and effort.
You create value for another person and earn active income. It is when someone buys a product or service you have created. This could include selling products online or creating ebooks.
Passive income allows you to be more productive while making money. Most people aren’t keen to work for themselves. Instead, they decide to focus their energy and time on passive income.
The problem is that passive income doesn't last forever. You might run out of money if you don't generate passive income in the right time.
In addition to the danger of burnout, if you spend too many hours trying to generate passive income, It's better to get started now than later. You'll miss out on the best opportunities to maximize your earning potential if you wait to build passive income.
There are three types or passive income streams.
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These include starting a business, owning a franchise or becoming a freelancer. You could also rent the property, such as real-estate, to other people.
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Investments - these include stocks and bonds, mutual funds, and ETFs
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Real Estate - These include buying land, flipping houses and investing in real estate.
How much debt can you take on?
It is vital to realize that you can never have too much money. Spending more than you earn will eventually lead to cash shortages. Savings take time to grow. Spend less if you're running low on cash.
But how much should you live with? There's no right or wrong number, but it is recommended that you live within 10% of your income. That way, you won't go broke even after years of saving.
This means that if you make $10,000 yearly, you shouldn't spend more than $1,000 monthly. If you make $20,000, you should' t spend more than $2,000 per month. You shouldn't spend more that $5,000 per month if your monthly income is $50,000
The key here is to pay off debts as quickly as possible. This includes student loans, credit card debts, car payments, and credit card bill. After these debts are paid, you will have more money to save.
It's best to think about whether you are going to invest any of the surplus income. If you decide to put your money toward stocks or bonds, you could lose money if the stock market falls. If you save your money, interest will compound over time.
As an example, suppose you save $100 each week. Over five years, that would add up to $500. Over six years, that would amount to $1,000. In eight years, you'd have nearly $3,000 in the bank. In ten years you would have $13,000 in savings.
Your savings account will be nearly $40,000 by the end 15 years. That's pretty impressive. However, this amount would have earned you interest if it had been invested in stock market during the exact same period. You'd have more than $57,000 instead of $40,000
It's crucial to learn how you can manage your finances effectively. Otherwise, you might wind up with far more money than you planned.
How can rich people earn passive income?
There are two methods to make money online. One is to create great products/services that people love. This is called "earning” money.
The second is to find a method to give value to others while not spending too much time creating products. This is called "passive" income.
Let's suppose you have an app company. Your job involves developing apps. You decide to make them available for free, instead of selling them to users. That's a great business model because now you don't depend on paying users. Instead, your advertising revenue will be your main source.
You might charge your customers monthly fees to help you sustain yourself as you build your business.
This is the way that most internet entrepreneurs are able to make a living. Instead of making money, they are focused on providing value to others.
Statistics
- While 39% of Americans say they feel anxious when making financial decisions, according to the survey, 30% feel confident and 17% excited, suggesting it is possible to feel good when navigating your finances. (nerdwallet.com)
- 4 in 5 Americans (80%) say they put off financial decisions, and 35% of those delaying those decisions say it's because they feel overwhelmed at the thought of them. (nerdwallet.com)
- Etsy boasted about 96 million active buyers and grossed over $13.5 billion in merchandise sales in 2021, according to data from Statista. (nerdwallet.com)
- According to a June 2022 NerdWallet survey conducted online by The Harris Poll. (nerdwallet.com)
- Mortgage rates hit 7.08%, Freddie Mac says Most Popular (marketwatch.com)
External Links
How To
How to make money at home
There's always room to improve, no matter how much you make online. Even the most successful entrepreneurs aren't able to grow their business and increase profits.
The problem with starting a business is that it's easy for you to get stuck in a routine and not focus on your goals. You may spend more time on marketing rather than product development. You might even neglect customer service.
You should evaluate your progress regularly and assess whether you're making improvements or just maintaining the status quo. These are five easy ways to increase income.
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Increase your Productivity
Productivity isn’t about the output. To be productive, you must also be able accomplish your tasks. Find out what parts of your job take the most effort and are energy-consuming, and then delegate these tasks to another person.
If you are an eCommerce entrepreneur, virtual assistants could be hired to manage social media, email management and customer support.
A team member could be assigned to create blog posts, and another person to manage your lead generation campaigns. Delegating should be done with people who will help you accomplish your goals quicker and better.
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Focus on Sales instead of Marketing
Marketing doesn't mean spending a lot. Many of the most successful marketers aren’t employees. They're self-employed consultants who earn commissions based on the value of their services.
Instead of advertising product on print ads, TV and radio, try affiliate programs. You can promote products and services from other businesses. You don't have to buy the expensive inventory to generate sales.
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Hiring an Expert to Do What you Can't
If you lack expertise in certain areas, hire freelancers to fill the gaps. Hire a freelance designer to create graphics on your site if you aren’t an expert in graphic design.
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Get Paid Faster By Using Invoice Apps
Invoicing can be time-consuming when you're a contractor. It can be particularly tedious if you have multiple customers who want different things.
Apps such as Xero, FreshBooks, and FreshBooks let you invoice customers quickly and efficiently. You can easily enter all the client information and send them invoices through the app.
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Sell More Products With Affiliate Programs
Affiliate programs are great as they allow you to sell products and not have to hold stock. It's also easy to ship products. Simply create a hyperlink between your website and that of the vendor. Once someone purchases from the vendor's site, they will pay you a commission. In addition to helping you make more money, affiliate programs can help you build a brand. If you can provide high-quality content and services, you will attract your audience.