Jeff Roediger -- Replacing Wall Street With Main Street
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Jeff Roediger -- Replacing Wall Street With Main Street
Adam Stalnaker & Joe Kovach - Financial Advisers Serving Public Educators and Professors
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Join Adam, Joe and I discuss why their planning firm -- Rockport Wealth Advisors -- has a division specifically designated to serving Public Professors, Educators, and Administrators. For additional Public Pension and Retirement Information including the Ten Questions Public Employees need to answer before retiring check out -- Public Pension Checklist
This conference will now be recorded.
Unknown Speaker :Hello, everyone and welcome back. Jeffrey Roediger. Here. Some of you have found us on my channel, Jeff Roediger. And friends. Our Podcast Network connects financial professionals to their target audience. And we have a great session and new podcast series set up
Unknown Speaker :for each of you, as educators, professors, administrators, in the public sector. And what we have found is that a lot of you have what we call a financial junk drawer, which means you have a couple pensions from previous employers. Maybe you have a couple, four, three B's out there, and you need help with clarity so that you can really start planning for retirement.
Unknown Speaker :And we're excited to have a firm that specializes in each of you. So the
Unknown Speaker :This session is going to be an overview
Unknown Speaker :of upcoming episodes that that specifically
Unknown Speaker :are dedicated each of you out there. So Adams dollmaker and Joe Kovach
Unknown Speaker :of rock Rockport Wealth Advisors have agreed to co host this series and welcome both of you. Thank you. I know you're busy. I appreciate your time. Thanks for Thanks, Jeff. Yeah, no problem. So let's tee this up as to what everybody should expect
Unknown Speaker :in the upcoming series. I think a good way to do that is Joe, if you can give a little background on your on your practice. Sure, sure. So our first call Rockport Wealth Advisors, and it was formed in May of 2012. And what we had found was we had privilege Previously, we spent a lot of time
Unknown Speaker :In the insurance industry as what they call captive insurance agents. And the problem we kept running into, was under that old system was that the insurance company controlled what we could and couldn't do. They were mandating that we had to use so much of their products and they weren't allowing us to kind of steer clients in the direction we needed to steer them, which for us was going to be financial planning. So you know, since we started rock four, we've been able to open the playing field up now we can use you know, if we need it, we can use any company's products we want. The most importantly for us is we can now do full what we call comprehensive financial planning. And they weren't allowing us to do that and that system so and the financial planning for us has really has become the baseline of what we do. So it's it's been a it's been a fantastic, you know, Coming up on eight years or extras past eight years now. And and
Unknown Speaker :We found that when we lead with the planning part of things, all the other pieces fall into place. So it's been it's been a fantastic, you know, we're looking forward to another 2030 years worth.
Unknown Speaker :Well, I think getting to understand your practice a little bit is unique. And I think for this target audience,
Unknown Speaker :if that's and, Adam, why did why'd your firm decide to create a division for professors, educators and administrators? So I grew up with with an educator, my mom was an educator, and actually my mother in law was an educator as well and kind of getting the background and as I got into this industry started talking to them a little bit more. Because when we were growing up, I didn't know anything about the finances of or saving or retirement planning that my parents were doing. So once I got into this industry 10 years ago, you started having those conversations and learning kind of some of the pitfalls
Unknown Speaker :There was a lot of stuff out there they could do. They just didn't know what they could do. So there was a lack of education, there was a lack of
Unknown Speaker :true financial planning, and it was more just a product sale.
Unknown Speaker :And then we had, we had some college professors referred into us. And we saw kind of all the disarray that was going on. Now, luckily, he was able to save enough for retirement. But he had no idea when he walked in the door to us, and sat down and put everything out. He was like, he had no clue. You know, where he was if he was going to have enough for retirement using who's going to be able to take all the pensions and 403 B's, put them together and come up with retirement that he was looking for. So, you know, we we saw that they spent so much time educating others that
Unknown Speaker :they just weren't getting the education for retirement themselves.
Unknown Speaker :Well, I think you're
Unknown Speaker :model as I know it is a great fit for
Unknown Speaker :that client. No doubt. Okay, so Joe What Can everybody expect we have upcoming session what what's the next session going to look like? Yeah, well the next session will will cover the top five oversights that educators tend to make in retirement planning and to put a little teeth on it the number one is not having a retirement plan. So we're going to find is everybody we've ever run a retirement plan for has found it to be an immensely helpful tool and and it just puts the whole you know, mind at ease a little bit more as to where they're at.
Unknown Speaker :Regardless of that process, so you know, there's there's other other other things that we see as well but that's just to kind of tease it and put a little one of them is out there. That's That's number one.
Unknown Speaker :Well, in everybody think thinks they have a retirement plan. They have retirement products.
Unknown Speaker :Right, Correct, correct. Yeah, this is the actual plan. This is how you're going to, you know, what, what do you need to live on? how you're going to get there? You know, what's the roadmap to get you, you know, maybe to retirement, say at age 6065. And then how to get from age 65 to 90 or whenever that is, and make sure you've got enough money in a blood type lifestyle you want to live? Yeah, I think you hit it right there, Joe is it's a personalized plan. So your neighbor, Joe Smith, might have different goals and different things that they want to accomplish. But, you know, this is geared towards exactly what you want to do in trying to figure out if what you want to do is, you know, reasonable or, if not, you know, what changes we got to make? Absolutely, absolutely.
Unknown Speaker :Okay, so those of
Unknown Speaker :those of us out here that would want to
Unknown Speaker :reach out pension questions, retirement questions, how would they get ahold
Unknown Speaker :You guys, how would they find you? So they can find us at Rockport wealth.com. There's a lot of good, I think information on there about the different types of programs that we do offer planning programs, investing programs, and just some good overall pieces of information that they can grab from it. And from there, they can, they can find us and they can email us phone number is 216-226-4560 if they just want to reach out and and call as well. Right, and guess what newsletters that we write on that site as well. So there's some good reading for everybody on there. Okay. And, you know, just for clarification, your firm you're located in the Cleveland area, but you're helping educators nationwide, is that correct? Correct. Yeah, we're, we're, we're licensed in what how many states now? Joe? 25.
Unknown Speaker :Yeah. Yeah. So we can we can work kind of wherever and some of the things that we've implemented in the last year or so.
Unknown Speaker :we've we've made it extremely easy to work remotely and work with anybody around the country. So
Unknown Speaker :we've been working with people, as far as you know, upstate Seattle, and in the state of Washington.
Unknown Speaker :And,
Unknown Speaker :you know, but on air everything down Arizona over to the east coast down to Florida, we kind of got the whole country covered here. Yeah, nice. Well, I do know that in our practice of working with educators,
Unknown Speaker :they have unique needs, especially at the higher level. So I will share with everybody this Ferb can help you. So feel free to reach out to them. And Thanks, you too. I look forward to building out this, this series of podcasts over the next three or four months with with the with the two of you. I'm excited about it. So I appreciate your time. Thanks. Yeah.
Unknown Speaker :Okay, so
Unknown Speaker :So everybody out there look for the next episode uploaded shortly as we start getting into the issues that we have seen and what their firm can help you with and some of the problems out there. So john is look for the next episode. And this concludes our, our session for today. Thank you, everybody. Transcribed by https://otter.ai