MAKING CENTS: Why get your financial house in order?

Perhaps the most common reason for the gaping holes in one’s financial plan is the lack of focus on what you are trying to accomplish. Why get your financial house in order?

During the course of my week as a financial professional, we frequently see people with gaping holes in the financial plans. Some have no wills, some have poorly constructed portfolios and others are severely

underinsured. Rarely are they flying solo; often there is the typical collection of professionals such as lawyers, accountants, brokers and insurance agents who have advised on their particular subject matter. So why the gaps?

It may be as simple as the lack of communication from one professional to another. Every expert simply does his thing without knowing what the other experts are doing or thinking about recommending to the client. Even for simple situations, a little collaboration may go a long way toward improving the odds of achieving your financial dreams and goals.

Fear is another cause for gaps in financial plans. Some people are simply afraid to hear the cold hard truth. Whether it is an insurance person suggesting that you may be underinsured or the investment professional suggesting that you add regularly to your accounts, fear of making the wrong move often paralyzes progress. To mitigate your fears, learn more about your choices to make an informed decision and understand the consequences of making no decision.

Perhaps the most common reason for the gaping holes in one’s financial plan is the lack of focus on what you are trying to accomplish.

For example, if your goals include educating children or grandchildren in the event of your premature demise, you may want to listen more carefully to the insurance recommendation. Similarly, if you want your business to survive to the second generation, you may need to engage with your insurance agent, accountant and attorney.

Take a few moments, and list out your goals. Start with some looking you right in the face, such as college expenses, your replacement windows or home painting. Get a good handle on the quantitative financial issues that you need to solve with a timeline for when.

Beyond the quantitative goals, start to look at the qualitative side of your life with an open mind. Develop a realistic vision of how you want to spend your time, and what is most important to you. The hope for you is that each of these categories will spark emotions strong enough to get you moving in the right direction to eliminate the gaps in your financial plans.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. John Napolitano is a registered principal with and securities offered through LPL Financial. Member FINRA/SIPC. He can be reached at 781-849-9200.

What is the Napolitano Team? Also know as 'Nap Team'

Over the course of the next year, you will get to know the members of my client service team here in Braintree.  We are known as the “Nap Team”.

Most of our clients know that I’ve had a robust support structure here at U. S. Wealth Management over the years of doing business with us. But now is my opportunity to introduce the team members to all who read this letter so you can better understand us and see how we can help tailor strategies to manage your financial future.

I’ll start with the youngest and longest tenured member of the Nap Team, Alex Weiss.  Having just sat for his comprehensive CFP® (Certified Financial Planning Practitioner) exam less than two weeks ago,  After graduating from Bryant University in 2009, Alex was certain that a career in financial planning was for him.  His actuarial math studies at Bryant are quite helpful in the financial planning process as we endeavor to give our clients the highest probability of success with their financial plans.

Alex is a motivated and dedicated financial professional.

While at Bryant, Alex served as an intern for three years at a major Wall Street Firm and followed that up with full time work for the next 10 months.  At that point, he decided that the Wall Street firm cared more about sales than planning and service, and he sought out a firm whose culture is financial planning at its core.

Today Alex is responsible for working side by side with our clients throughout the planning process. He does this by monitoring and coordinating the resources necessary to achieve your goals. Alex also takes great pride in always making himself available for any questions you may have, at any time. 

The most recent team addition is that of Tom Fletcher, known as “Fletch” in the office.  Tom is a 25 year veteran of the financial service industry and spent the majority of that time with Fidelity as the lead trader for some of the largest mutual funds in the world.  Tom worked directly with the fund managers at Fidelity.  Tom’s day to day activities included meeting with fund managers and research associates regarding opportunities in the markets.  Tom, along with the fund manager had input on every buy and sell for the Magellan Fund, Fidelity Low Priced stock and the Fidelity Fund to name a few.

At U. S. Wealth, Tom is studying for his CFP® exam and has quickly become a valuable team member for our clients.  Tom is a member of the USWM investment committee and has a significant contribution towards helping our team serve as the financial head coach for our clients. He helps to coordinate all aspects of your financial situation to help consolidate the fractured advice you may receive from multiple sources.

If you haven’t met Tom, please feel welcome to reach out to see how he can help.

In addition to our client planning team, we are backed up by 15 subject matter experts from investments and insurance through accounting and operations to ensure our continuity and high level of client service. They are also available to you at any time.  If you go to our website, www.uswealthboston.com, you can meet them through their video introductions.

Over the next year, we plan to introduce more personal things about ourselves to allow you to get to know each of us a little better and to see how we spend our time away from work.  So on that note, be prepared for me to ask you how your garden is doing this summer.  Thanks to all the rain, mine is doing as good as ever. The golf game on the other hand… well, maybe next year I’ll play more.  If you want to see just how bad I can be at golf, let me know… we’d be honored for you to play a round and laugh with us at any time. 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. John Napolitano is a registered principal with and securities offered through LPL Financial. Member FINRA/SIPC. He can be reached at 781-849-9200.

MAKING CENTS: Myths about financial advice

When it comes to choosing a new financial advisor or evaluating your current advisor, there are some very basic elements that you need to consider. To get you in the right frame of mind, consider these myths and new realities.

Myth number one is about competence and success. Believe it or not, the most successful advisors are not always the most competent. Sometimes success for an advisor comes from their smooth talking ability and

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strong relationship building or sales skills. As a young planner full of energy and education, I was frequently surprised to see issues that we never addressed by the advisor and how the nature of the relationship seemed to always be about selling something or adding investments to their accounts.

Myth number two is that larger firms must be better than smaller firms. Nothing could be further from the truth. The reputation of the large Wall Street firms over the past few years looks tarnished to some, but a common issue is brokers who call themselves advisors offering little more than investment guidance. In fact, you may be surprised to learn that some of the largest firms in the USA don’t even let their broker/advisors give advice on a long list of matters that may be quite material to your overall wealth and financial well-being.

The last and perhaps most significant myth focuses on exactly what type of advice you are receiving. If you are working with someone who narrowly provides insurance or investment services only, understand that you may not be getting all the advice you need. Unfortunately, most individuals think that they are “all set” when it comes to the rest of their financial life only to find out what they didn’t know when something hits the fan.

Front and center in the world of financial advisors today is the issue of whether an advisor should act as a fiduciary. A fiduciary advisor would be one who agrees only to act in the best interests of the client. That would include full disclosure on any and all compensation and always putting your clients’ best interests first.

Currently, the rules require professionals registered as an investment advisor or those holding the CFP® designation to act as a fiduciary. Brokers and insurance agents, on the other hand are held to a much lesser standard, known as the suitability standard. A fiduciary standard for advisors is long overdue.

When working with an advisor, it is always best to know exactly what you are getting versus what you could be getting. The real awakening, however, is when you understand that the sum of the parts and holistic planning frequently adds context and clarity toward your end game of achieving your life dreams and financial goals.

John Napolitano is a registered principal with and securities offered through LPL Financial. Member FINRA/SIPC. He can be reached at 781-849-9200.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through U.S. Financial Advisors, a registered investment advisor and separate entity from LPL Financial. The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with resident of the following states: AL, AR, AZ, CA, CO, CT, DC, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MN, NC, ND, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WV. USFA, and U.S. Insurance Brokers, LLC are wholly-owned subsidiaries of U.S. Wealth Management. U.S. Wealth Management companies are not affiliated with LPL Financial.

The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. We make no representation as to the completeness or accuracy of information provided at these web sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.

MAKING CENTS: How to avoid a financial family feud

All too often families fight about money. Commonly these feuds begin over real estate, family businesses or care decisions for aging parents. No parent’s dream for the future of his or her family includes disownment or troubles among the siblings, yet parents are most often the ones to blame for the problems.

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Preventing future feuds can be accomplished through clear communication and creating a plan surrounding the financial assets. I’ve personally witnessed many parents avoid the significant decisions and communication required. They all seem to assume that the situation will work itself out. That does happen, but not without heartache and estrangement.

Real estate, whether it be rental property or that memorable vacation home, are constant problems. The two main issues here are maintenance and usage. On the maintenance front, there may be one or more child who is capable and interested in maintaining the home.

Typically there is a child who wants to sell the home, one who wants to keep the home but can’t afford to, and one who wants to keep it and can afford it. What parents need to do is place the property into an entity such as a trust and endow it with cash for future maintenance. The directives in this trust should be based on the parents’ vision for how they would like the situation to end after their demise.

Family businesses frequently have a similar fate as real estate, but with a different twist. The twist is nepotism versus ability. Most business consultants would agree that business owners have a fiduciary responsibility to their customers, employees and family to adequately plan for the succession of that business. If all children are active in the business, it may make sense for all to inherit or buy that business. But that doesn’t mean they are all equals in terms of abilities, titles and responsibilities in the operation; and that issue needs to be addressed well in advance of any succession strategy.

Caring for aging parents is another cause of family feuds. Whether it is over unequal time spent in delivering care or the division of assets post mortem, this, too, can be avoided.

Long-term care insurance is one solution, but not everyone can afford or qualify. The other is simple and direct communication. Too many parents have a secret plan where they expect care from their children.

John Napolitano is a registered principal with and securities offered through LPL Financial. Member FINRA/SIPC. He can be reached at 781-849-9200.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through U.S. Financial Advisors, a registered investment advisor and separate entity from LPL Financial. The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with resident of the following states: AL, AR, AZ, CA, CO, CT, DC, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MN, NC, ND, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WV. USFA, and U.S. Insurance Brokers, LLC are wholly-owned subsidiaries of U.S. Wealth Management. U.S. Wealth Management companies are not affiliated with LPL Financial.

The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. We make no representation as to the completeness or accuracy of information provided at these web sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.