Personal Financial Planning

A: There is no universal "right age" to claim Social Security. The optimal timing depends on your health, anticipated longevity, tax bracket, and other income sources. We evaluate your Social Security claiming strategy within the context of your broader retirement roadmap, coordinating it alongside Medicare enrollment decisions, pension options, and portfolio withdrawals to maximize your lifetime, after-tax benefits. 

A: Taxes do not stop in retirement; how and when you pull money from pre-tax (401(k)/traditional IRA), tax-free (Roth), and taxable accounts directly affect how much you keep. We implement proactive, multi-year tax planning strategies—such as evaluating Roth conversions and managing income brackets over time. While we do not file tax returns directly, we actively coordinate with your CPA or tax professional to ensure your investment allocations and withdrawal sequencing remain as tax-efficient as possible.  

A: Managing multiple employer plans, IRAs, and brokerage accounts from past employers often creates unnecessary fragmentation and overlap. During our initial process, we review your existing plan balances, evaluate rollover options versus leaving funds in place, and consolidate accounts where appropriate. This brings organization to your balance sheet and aligns your total asset allocation with your long-term income goals. 

A: A fiduciary is someone that must act in your best interest. For investment advisors, the Securities and Exchange Commission (SEC) states:

“This means that you have a fundamental obligation to act in the best interests of your clients and to provide investment advice in your clients’ best interests. You owe your clients a duty of undivided loyalty and utmost good faith. You should not engage in any activity in conflict with the interest of any clients, and you should take steps reasonably necessary to fulfill your obligations.”

Most people assume that the financial professionals they work with are going to follow that definition and work solely in their best interests. Unfortunately, not all advisors have to follow the SEC’s definition and the SEC has not done a very good job of helping consumers differentiate between those who serve their clients as fiduciaries and those who don’t.

Within the investment industry, individuals are licensed either as investment adviser representatives or registered representatives.

• An investment adviser representative is affiliated with a registered investment advisor (RIA), and the company and individual must serve as a fiduciary to the clients they serve.
• Registered representatives work for a broker-dealer and may provide similar services as an RIA but they do not have to work in your best interests as a fiduciary. Instead, they represent the broker-dealer and are usually compensated through commissions for selling products to you.

To make matters even more confusing, many investment adviser representatives and registered representatives use similar titles such as “wealth manager” or “financial consultant.” And in some cases, professionals are registered as both, switching “hats” between serving as a fiduciary, or not, depending on the client they work with and the specific service they are providing.

If you are working with an advisor or evaluating hiring a new advisor, they should be able to clearly state that they will serve you as a fiduciary. Multnomah Group is registered with the SEC as a registered investment advisor and serves our clients as a fiduciary. We are not affiliated with any broker-dealer and have no ability to earn any commissions for selling products. We believe this model reduces conflicts of interest and frees our employees to provide the best possible advice to our clients.