Category: Finance

Documents to Bring When Meeting with a Registered Representative

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A business administration graduate from Troy University, Kathy Nishnic has worked as a registered representative with Cola Wealth Advisors since 1997. At the Lexington, South Carolina-based firm, Kathy Nishnic works with clients to achieve their personal financial goals.

Interested in meeting a registered representative from Centaurus? Go to the company’s website and fill out a Contact Us form. The firm will match you with a competent representative to help you plan your finances. Here’s what to bring in your first meeting with a registered representative:

1. Retirement planning documents.

If you already have a retirement plan, your representative can review it and guide you in making adjustments to suit your changing needs. Bring current statements on your retirement plans, including 401(k), 403(b), pensions, IRA, and ESOP.

2. Banking statements

These will give your representative an understanding of your current financial position, earnings, and expenditure. You can bring documentation on your checking, savings, money market, brokerage, and education savings accounts.

3. Debt statements

If you have debt, it will affect your financial planning. Disclose your debts to your representative. Bring documentation on auto loans, student loans, mortgages, credit card debt, and personal loans.

4. Investment documentation

If you already have investments, these can augment your new financial plan. Bring documents such as share certificates, mutual fund statements, and brokerage account statements.

Other financial documents you should bring on your first meeting with a registered representative are tax statements, estate planning documents, and insurance policy statements.

Securities and advisory services offered through Centaurus Financial, Inc., member FINRA and SIPC, a Registered Investment Advisor. Centaurus Financial, Inc. and Cola Wealth Advisors are not affiliated companies. Please visit Cola’s website for more information: https://www.colawealthadvisors.com/.

A Brief Introduction to Standard & Poor’s 500 Composite Index

A business administration graduate from Troy University, Kathy Nishnic is dedicated to assisting Americans with their retirement and income options, Kathy Nishnic reviews client accounts for income optimization through channels like investing in the stock market. She recently shared an article explaining the anatomy of an index, specifically the Standard & Poor’s 500 Composite Index.

The S&P 500 was created in 1957. It is monitored by the Standard & Poor’s Index Committee and comprises a grouping of large-cap stocks from various industries including technology, health care, energy, and consumer staples. It constitutes a whopping g 80 percent of the value of the US equity market with $9.9 trillion in assets benchmarked to it.

The constituent companies of the index are not static. New companies are added periodically while others are removed. To join the index, a company must be based in the United States, have a market cap of over $5.3 billion, be financially viable, and be a market leader. Companies that do not meet these criteria are removed. For example, a company that goes into bankruptcy is not financially viable, hence is removed from the index.

Turnover for the S&P 500 companies stood at 5.2 percent in 2017. Whenever changes to the index are made, mutual funds tracking it has to sell the stocks that were removed and purchase those that are added. Noteworthy, amounts in mutual funds fluctuate in value. Hence redeemed shares may have higher or lower values than their original cost.

Securities and advisory services offered through Centaurus Financial, Inc. Member FINRA and SIPC, a Registered Investment Advisor. Centaurus Financial, Inc. and Cola Wealth Advisors are not affiliated companies. Please visit Cola’s website for more information: https://www.colawealthadvisors.com/.

The Difference Between Deferred and Immediate Annuities

Kathy Nishnic helps clients achieve their financial goals, serving as a registered representative for Centaurus Financial, Inc., under Cola Wealth Advisors. Possessing more than two decades of experience, Kathy Nishnic has experience in everything from tax and estate planning to assisting clients with annuities.

When setting up an annuity, which is a type of insurance product, people must choose between two basic categories: immediate and deferred. Both categories include variable and fixed options, depending on how they are paid out, and both provide retirement income to owners. However, they function on different timelines.

As evidenced by the name, immediate annuities begin providing owners with payments within 12 months or sooner. In exchange for these immediate monthly payments, people provide the insurance company with a single, lump-sum payment. The amount of this lump-sum payment, along with various personal factors and the payout option, affect the amount of income annuity holders receive each month.

On the other hand, deferred annuities have an accumulation period between when distributions begin and when the annuity is set up. During this time, individuals make either a lump-sum payment or several premium payments to their annuity. There are no limits to the amount a person can contribute to a deferred annuity each year, and the money in the annuity is only taxed once it is withdrawn.

Maintei and Associates Provides Support to OBAP

 

A former procurement specialist for the United States Air Force, Kathy Nishnic has helped clients achieve their personal financial goals for over twenty years as a top-ranking broker. Kathy Nishnic serves as a registered representative at Mantei and Associates in South Carolina.

Mantei and Associates is a wealth management firm serving over 2,000 clients in the Lexington, South Carolina area. The company, which operates as a branch of Centaurus Financial Inc., was recently featured in a KTVN article for its support of the Organization of Black Aerospace Professionals (OBAP).

Mantei and Associates’ owner and operator, Rick Mantei, recently had an impromptu opportunity to share his experiences as a pilot with young adults who were learning about flight related career prospects from a member of OBAP. Since its founding in 1976, OBAP has advanced the involvement of minorities in the aviation and aerospace sphere through educational programs for youth. Currently, these programs include mentoring, scholarships, and training initiatives.

For additional information on OBAP, visit www.obap.org.