If there was a missing piece of information that was costing you money now or that would cause a significant problem or cost in your future, when would you want to find out about it?
That is the question Ken New, president and founder of Pinnacle Financial Wealth Management, asks his clients on a regular basis.
“We believe one of the best ways to make money is to avoid losing it in the first place,” he said, “so we focus on all the missing facts to keep your money from falling through the cracks.”
With offices in Merritt Island and Viera, Pinnacle Financial Wealth Management is committed to helping pre-retirees and retirees understand financial strategy. New, who started his career in financial management with John Hancock in 1997, went into private practice and incorporated Pinnacle Financial Network in the early 2000s. His goal: make a living.
“I was well sheltered by a huge corporation for two years, and now I was out on my
own, so I wanted to establish a solid business I could rely upon to help clients and support my family,” he said. “I had a wife and daughter, and I wanted to be a part of their lives, so by starting my own business, I could better control my schedule.
New was guided by the philosophy that the more you help people, the better your business does. In a “like-trust” industry like financial management, the only way to get and keep clients is to establish strong relationships, something New has always relished. In fact, it is an honor and privilege for New to guide clients on a trek to reaching their financial goals and making sound investment decisions that contribute towards their secure future.
“We educate clients to the fact that their money has a job to do,” he explained. “In our industry, it’s important people understand there’s a lot of noise out there, but at the core, you’re trying to earn income and have both short- and long-term growth management.”
Pinnacle Financial specializes in customizing asset management and investment strategies to help pre-retirees and retirees navigate the complicated and ever-changing world of investing. The Pinnacle team’s primary objective is to provide holistic financial strategies and educate clients about their own personal financial challenges and potential solutions regarding complex financial issues. The firm uses modern portfolio theory as the basis for their financial strategies, building a diversified portfolio for clients based on the current financial landscape.
“We provide perspective on something other than hoping the stock market goes up,” asserted New. “Income is a strategy, and you want it to be durable and flexible. We create strategies based on facts and the current climate, keeping in mind things are constantly changing. With larger companies, they always have a mixture of fixed instruments and equities no matter what the current climate is. This drags portfolios down, and advisers don’t recognize this.”
More than anything else, New loves what he does. Talking to people about the truth and giving them the tools they need to create the future they want for themselves is something he relishes. None of this, he says, has anything to do with picking the right stocks.
“People’s greatest concern is having enough money and making it last in retirement,” he explained.
“Right behind this is the belief they have to have money in the stock market. This simply isn’t true. You need to determine your income and grow it so you have enough money for the future.”
When New first got into the business and began to cut his teeth, and after a couple of stock market crashes and regulatory changes, he began to understand that people need help, but they don’t need to be sold something. And they need to be helped in a “like-trust” environment.
“That’s what this is all about; it’s important to have this,” he added. “I thoroughly enjoy my relationships with my clients and love talking about this stuff.”
As far as setting up shop on the Space Coast, New has no regrets. “There are a lot of smart people in this region, but my clients are a lot of fun,” he said. “I love the analytics and getting together with clients to discuss their needs, goals and desires. And actually having the knowledge and services to help them is a great feeling.”
With his own retirement looming in the future, New stresses he will never go away completely.
“I may semi-retire, travel more with my wife, and I may become more selective with my clients, but I’ll always be involved in this business. I love it too much not to be.”
By. Jack Roth