For each union member, a customized retirement planning preview and asset allocation analysis are prepared by the CFG advisor team. The retirement review looks at all sources of potential income and suggests how to reach retirement goals. The analysis shows the allocations the client holds compared with Coghlan’s or another advisor’s suggestions. Both planning tools are copyrighted.
Coghlan manages the investments for those clients who are retired and have taken their money out of a 401(k) or other retirement plan. Prior to the clients’ retirement, CFG helps the employee make investment decisions within the options offered by the plan, he says.
“A 401(k) plan is not really managed by anyone other than the employee, and he or she has to decide on the investments,” says Coghlan. “The employee often ends up with too much company stock.”
“Working with a union is a good opportunity for any advisor because it generates more referrals and gives the advisor more time to work with clients instead of trying to find new business. We are looking for more advisors to work with us in expanding our union representation,” Coghlan says.