In Case You Missed It
Last month we welcomed Rick Calhoun to the Collins Investment Group family. Rick’s addition as Managing Director, President, is an event that signifies our team’s strength and commitment to our clients, their families and the relationships that we’ve built over time.
In his new role, Rick will continue to build upon the solid foundation that Collins Investment Group has created with our clients and their families. This vital step in the advancement of Collins Investment Group will allow our team to continue to provide you with the best, highest quality care and service that you deserve.
Rick is a proven leader in the financial services industry with over 20 years of experience on Wall Street. He began his career as a vice president at The Rubenstein Company, a national full-service commercial real estate company. He then became a financial advisor with Merrill Lynch before moving on to Legg Mason, where he served as a producing sales manager. After that, he worked for 10 years at Smith Barney, where he managed branches in New York, Pennsylvania and Florida.
In 2008, He joined Wells Fargo Advisors Financial Network (WFAFN) as a Regional Director of Branch Development. In 2013, Rick was promoted to Managing Director – Innovation & Growth where he represented business owners on Wells Fargo Advisors and Wells Fargo Corporate strategic initiatives, focused on opportunities to support business owners as they sought growth and enhanced practice equity, and drove innovative growth and practice-management strategies across Wells Fargo Advisors.
Rick has a bachelor’s degree from the ILR School at Cornell University and has earned several certifications from the University of Pennsylvania’s School of Social Policy & Practice. Rick and his wife, Jeanne, have three children — one daughter and two sons. In his free time, Rick enjoys golf, wine, cooking and coaching youth sports.
If you haven’t already had the opportunity to meet or speak with Rick, he would love the opportunity to do so.
Required Minimum Distribution
With 2017 already on its way out, we’d like to remind our clients that are 70 ½ years or older and those with beneficiary IRAs that it is necessary to take your Required Minimum Distribution (RMD) before December 31, 2017. If this is your first year that you are required to take your RMD, you may have the option to defer your distribution until the following year. Please consult your CPA to determine if that is an appropriate strategy for you.
Our team is proactively reaching out to our clients that have not yet fulfilled their RMDs to ensure that they are all completed by December 31st but if you have not yet been contacted and have a need or would prefer to have your distribution completed as soon as possible, please give us a call and we will process it right away.
Don’t Need the Extra Cash?
If your RMD is an “extra” cash distribution that you don’t necessarily need, you have several options for how to take your distribution. Many of our clients will choose to take the distributions into their taxable brokerage accounts to have the money reinvested. Some may even wish to send it to their favorite charity or Alma Mater. However you choose to take your distribution, we do recommend that you consult your accountant in regard to any potential tax withholdings, tax consequences or tax breaks surrounding your distribution.
Save the Date!
The holiday season will be here before you know it, and we know that your schedule can fill up quickly. With that in mind, we wanted to share that Collins Investment Group will be hosting our annual Holiday Open House and Toys for Tots toy drive in our office on Friday, December 8, 2017. We will provide more details as we near the date. If you have any questions, please do not hesitate to contact our office.