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Randy Carver Ranked Among Barron’s 2020 Top 100 Independent Wealth Advisors in the Country

MENTOR, Ohio, Sep. 18, 2020 – Randy Carver, RJFS Registered Principal, and the President of Carver Financial Services, Inc. was once again included on the 2020 Barron’s list of the “Top 100 Independent Wealth Advisors” in the country. Randy has been included on this prestigious list of top wealth advisors every year since 2010.

Barron’s produced the listing of top advisors after weighing factors such as client assets under management, philanthropic work, compliance record and the overall quality of their practices. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports*. There are nearly 300,000 licensed financial advisors in the United States, so being named one of the top 100 independent advisors is a notable recognition.

Full story – https://www.barrons.com/report/top-financial-advisors/independent/2020

Carver Financial Services Inc. offers securities through Raymond James Financial Services, Inc. Member FINRA/SIPC. Investment Advisory Services offered through Raymond James Financial Services Advisors, Inc. Carver Financial Services Inc. is not a registered broker/dealer and is independent of Raymond James Financial Services. Barron’s “Top 100 Independent Wealth Advisors,” September 2020. Barron’s is a registered trademark of Dow Jones & Company, L.P. All rights reserved. The rankings are based on data provided by over 4,000 individual advisors and their firms and include qualitative and quantitative criteria. Data points that relate to quality of practice include professionals with a minimum of 7 years of financial services experience, acceptable compliance records (no criminal U4 issues), client retention reports, charitable and philanthropic work, quality of practice, designations held, offering services beyond investments offered including estates and trusts, and more Financial Advisors are quantitatively rated based on varying types of revenues produced and assets under management by the financial professional, with weightings associated for each. Investment performance is not an explicit component because not all advisors have audited results and because performance figures often are influenced more by clients’ risk tolerance than by an advisor’s investment picking abilities. The ranking may not be representative of any one client’s experience, is not an endorsement, and is not indicative of advisor’s future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. Barron’s is not affiliated with Raymond James. Please visit https://www.barrons.com/report/top-financial-advisors/independent/2020 for more info.

The Washington Update: 2020 with Jeff Bush

An Overview of the Political Environment, Prospective Legislation, and Strategies for Investment and Retirement Planning

Jeff Bush from The Washington Update provides an insider’s view of Washington and the coming election. Jeff discusses details of the coronavirus legislation, including how it affects individuals, small businesses, and industries, as well as the legislation’s effect on other important concerns, such as the U.S. fiscal situation, U.S.-China relations, and the national election. Jeff also shares his insights on the election, from the Democratic primaries and nomination through the election of the president, House, and Senate in November, providing a unique analysis of the factors likely to influence the election result, as well as the markets’ likely reaction.

Randy Carver Named to Forbes’ 2020 List of Top 250 Wealth Advisors in the U.S.

August 25, 2020 – FORBES published their 2020 list of Top 250 Wealth Advisors in the United States. This is the fifth year in a row that Randy Carver, President of Carver Financial Services Inc. and registered Principal with Raymond James Financial Services Inc., was included in this prestigious list. There were more than 32,325 nominations received from across the country, six were recognized in Ohio, with Randy Carver being ranked #104.

Full story – https://www.forbes.com/profile/randy-carver/#13c1301c739a

The Forbes ranking of America’s Top Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative and quantitative data, rating thousands of wealth advisors with a minimum of seven years of experience. Ranking algorithm is based on quality of practice, including: telephone and in-person interviews, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criteria because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC which does not receive compensation from the advisors or their firms in exchange for placement on the ranking. Research Summary (as of August 2020): 25,732 Advisor nominations were received, based on thresholds. 9,596 Advisors were invited to complete the online survey. 7,174 Advisors were interviewed by telephone. 1,503 Advisors were interviewed in-person at the Advisors’ location. Final list of the top 250 Advisors was then compiled based upon the quantitative criteria. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Data provided by SHOOKTM Research, LLC. Data as of 6/30/20. America’s Top Wealth Advisors (Forbes.com Aug. 2020).

Welcome to the “Normal Normal”

Do you remember when people put on dress clothes to travel and then smoked on planes? Do you remember when seatbelts started being required? Perhaps when email was created, or when eBay and Amazon became household names? When you got your first cell phone and then your first smartphone?

In 1968, wearing a seatbelt in a vehicle became a legal requirement in the United States. It wasn’t until 2000 that the United States banned smoking on all flights to, from or within the country. But before that, it was common for people to smoke on airplanes. We don’t know what new requirements the future will bring; only time will tell.

As Justin Trudeau said, “The pace of change has never been this fast, and it will never be this slow again.” Change is normal—not a “new normal,” as we keep hearing in the news, but just “normal normal.”

Change can be difficult, and the pace of change continues to accelerate as technology leads to more technology being developed. As we hear more about how the pandemic will change lives with more digital interaction, face coverings and other requirements, this is nothing new. Again, this is not a “new normal”; this is “normal normal.”

We Will Always Face Uncertainty

As we look forward to balance of 2020 and beyond, we will see businesses, communities, individuals and the country change and adapt. New ways of doing things can provide opportunities for those who evolve and challenge for those who don’t. Can you imagine not having a smartphone or at least a cell phone today? Sometimes the best, most profitable opportunities emerge from unexpected and even negative situations.

According to the Wharton School at the University of Pennsylvania, seeing the opportunity during times of crisis requires that we change our mental model. “Instead of viewing the present situation as a short-term necessary evil that we should try to leave behind as soon as possible and return to a comfortable pre-crisis past, we should ask how to use the current situation to speed up long-overdue changes.” Each of us can weather the storms around us more effectively if we adopt this mindset.

Uncertainty about what might happen next can lead to both personal anxiety and market volatility. Markets can handle bad news; however, uncertainty tends to result in increased volatility. Proper wealth management takes into account both what we know and what we don’t know. We need to hold some funds for near-term needs while investing to meet long-term goals. Personally, we need to know that the unexpected will happen. We have faced tremendous challenges before as a country, and we came through them all. We will prevail through the COVID-19 pandemic just as we have in the past.

Focus on the Long-Term, Avoid Making Decisions in Panic Mode

During uncertain times and times of unprecedented change, the danger, both from a mental-health standpoint and regarding investing, is making decisions in a panic mode due to a short-term situation, rather than looking at the long term. Selling when markets are down only locks in losses and exposes investors to other risks like inflation, transaction expense and income tax.

Given the negativity in the media, it’s no wonder we feel like things are constantly deteriorating. We continue to be bombarded with negative news about the pandemic, crime, race relations, politics, the economy and more. Those with vision and courage will not only feel better but can benefit from the opportunities that are hidden behind all the misinformation. Once again, this is not new. More than 200 years ago, Thomas Jefferson wrote, “Nothing can now be believed which is seen in a newspaper. Truth itself becomes suspicious by being put into that polluted vehicle.”

I expect a lot more volatility in the markets and portfolios, along with a seemingly unending stream of panic-inducing media coverage in the coming months. Don’t fall for it. Have a plan, and stick with your plan — for the sake of both your personal mental health and your wealth management.

Extinguish your cigarette, buckle up, get your face mask on, and look to the future with optimism, even when it feels uncomfortable. As always, we are here for you, and your vision is our priority. We have navigated many storms together, with our eyes on the long term, and we will continue to do so.

You can contact me personally at randy.carver@raymondjames.com or 440-974-0808. Learn more about our team and how we can help you at www.carverfinancialservices.com.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Randy Carver and not necessarily those of Raymond James. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Past performance does not guarantee future results.

10 Mistakes People Make When Hiring and Working With Financial Advisors

There are do-it-yourselfers among us who love the challenge of figuring things out for themselves. Whether it’s car repair, home renovations or home-schooling kids, many people prefer to bypass the experts.

Some things like medical care, wealth management, and complex legal matters are generally better suited for professionals, who focus all of their time and expertise on these matters. Even if you have the technical knowledge and time—which most of us don’t—an impartial trusted advisor can take the emotion out of critical decisions. With tax laws constantly changing and the array of financial products and services becoming more complex, we strongly recommend working with a team of competent, knowledgeable financial advisors. This can and should be a partnership with you involved as much as you want. The key is selecting the right partners.

Below are seven mistakes we see people make when hiring a financial advisor and three that we see people commit when working with a team or individual they have selected. By avoiding these mistakes, you can reduce your stress and have the best chance of optimizing the return on your hard-earned wealth.

Seven Mistakes People Make When Choosing a Financial Advisor

Here are seven mistakes to avoid when hiring a financial advisor.

1. Consulting with a “captive” advisor instead of an independent advisor

Financial advisors who work for a single or branded firm—sometimes called “captive” advisors—are required to sell the products those companies offer. Certainly companies with good reputations can sell you good financial products. But because their advisors are compensated for leading with those products—or selling those products exclusively—you are missing out on the ability to consider myriad options.  This is like the difference between phoning a specific airline, who will offer you their flights, versus a travel agent who can find you the best flight at the best cost for you. You will get more options if you work with an independent advisor who is free to sell products from many different companies. This can allow the advisor to find the best products for your unique situation.

2. Hiring an individual instead of a team

It is extremely important to work with an advisor you trust and feel comfortable with. After all, he or she is going to know everything about your financial situation. But if that advisor works alone, what happens when he or she retires? What happens if he or she passes away unexpectedly or leaves the business? All that work you’ve done together to build a financial plan based on your goals and dreams will evaporate. You’ll have to find someone else you trust and like, and you will both basically have to start over.

That’s why we recommend choosing an advisor who works as part of a team. In a team environment, advisors have backup. Plus, on a team, the advisors are likely to have varied expertise, knowledge and experience, making them a stronger and more valuable resource for you overall.

3. Choosing an advisor who focuses on just one area of planning

It makes sense that investment planners will be focused on getting the highest possible return on the investments in your portfolio. The key to true wealth management, however, is holistic planning. This involves looking at everything from your tax and legal planning to your insurance (risk management) and cash management. Planning will look at debt, long-term goals, short-term needs and a myriad of other factors. Your trusted advisor should act as a quarterback coordinating all of the professionals you work with.

Referring back to mistake #2, this is another reason it’s ideal to work with a team of advisors. Today, it’s simply not possible for one person to be an expert in insurance, college planning for your kids and grandkids, investments, annuities, retirement planning and all the other components of a sound financial plan.

4. Not understanding how an advisor is paid

Financial advisors are compensated in a number of ways. These can include commissions for selling a product, fee’s or a combination. The compensation is independent of investment expense. It’s important for you to understand both. The least expensive option is not always the best however, you should understand what your cost is and what you are getting for that.

While you are interviewing advisors, ask each one, “Do you earn a commission from the products I buy or investments I make?” If the advisor says yes, that means he or she could have a conflict of interest on what they offer. This doesn’t mean that commission based advisors will necessarily work against your best interests. It just means they might be more inclined to recommend products and services they will get a commission on that may or may not be the best option for your financial-planning needs.

In contrast, fee-only financial advisors must follow the fiduciary standard. When an advisor follows the fiduciary standard, it means he or she is required to make recommendations that are in your best interest, and they are compensated through fees rather than commissions. Those fees can be an hourly fee, flat retainer fees or asset under management (AUM) fees. In deciding to pay a fee rather than commissions, it is important to understand that the fee may be higher than a commission alternative during periods of lower trading. Advisory fees are in addition to the internal expenses charged by mutual funds and other investment company securities. To the extent that clients intend to hold these securities, the internal expenses should be included when evaluating the costs of a fee-based account. Clients should periodically re-evaluate whether the use of an asset-based fee continues to be appropriate in servicing their needs.

5. Failing to get referrals

There are a lot of financial advisors out there, so getting started with your search can seem overwhelming. It pays to ask people you know who their advisors are. Ask people whose opinions matter to you who they work with, but keep the other recommendations we’ve made in mind when considering those advisors. 

For example, if your brother-in-law refers a firm that only sells annuities that may not make sense for you if you need a financial-planning team whose advisors cover every aspect of financial planning. Ultimately this is will be your advisor, so you must be comfortable with them and what they offer. 

Also, consider more seriously those referrals who work with people in situations like yours. If you are only 10 years away from retirement, but someone recommends to you an advisor team who specializes in working with people who are just getting started in their careers, that probably isn’t a good match for you.

6. Choosing the first advisor you meet

Yes, it takes time and effort to interview more than one advisor or advisor team. But it’s worth it. Your future financial security is critical, and you don’t want to entrust it to just anyone! Make appointments with at least three advisors or firms. Ask them all the same questions, and take good notes. Then go home and compare their answers. Which one seems to be the best fit for you? 

Not only is this important as an information-gathering step; it also gives you an idea of how well you and an advisor get along. How comfortable would you feel about telling each advisor your most personal financial information? This is a critical step. Don’t skip it!

7. Making a decision without your significant other

If you are married, engaged or otherwise partnered, it’s important to include your partner in your decision to hire a financial-planning team. Getting on the same page financially is a critical step toward creating harmony in your relationship. You both need to interview advisors; don’t assume you know what your partner would want to do, and don’t let your partner assume he or she knows what you would want to do.

What if an advisor seems great on paper or on a website, but when you show up for an appointment, he or she speaks only to one of you and ignores the other partner? That is not going to bode well for a lifetime’s worth of discussions about your financial situation. Find a team of advisors whom you both like and whose approach and philosophies you both agree with.

Now that we’ve covered the mistakes people commonly make when searching for financial advisors, let’s look at three mistakes that many people make once they’ve chosen and have begun working with their advisors.

Three Mistakes to Avoid when Working with a Financial Advisor

Once you’ve made the important decision to work with a team of advisors, avoid these three common mistakes when working with your team.

1. Being unwilling to disclose your details

Imagine that you take your car to a mechanic, and when he asks what’s wrong, you tell him you’d rather not say. Or imagine that you go to your doctor and tell him or her you don’t feel well, but you won’t tell them why or what medications you are taking. They can’t help you, and may even hurt you, if you are not completely open about your situation. This is true for financial advisors, too.

Your team of financial advisors can help you only if you are willing to share with them details about your income, your assets, your goals and dreams, your retirement plans, etc. If you have investments with many different firms, you must disclose that. This doesn’t mean you have to move the investments; it just means that your advisor has a complete picture.

If your advisors make suggestions that you resist, ask yourself if it’s a reasonable suggestion. Maybe they are encouraging you to pay off your mortgage before you retire or perhaps, they are recommending you get a mortgage when you are retired. Maybe they are urging you to pay off your high-interest credit cards. The recommendations can be an uncomfortable reality to face. But one of the important ways financial advisors add value is to be your accountability partner.

Be open, honest and coachable! You are paying your advisor team to help you prepare for the future and protect what you treasure. Let them share their expertise with you and suggest what they think are the best options. Chances are, they know a lot more than you do. That’s what you’re paying them for.

2. Showing up unprepared

The more prepared you are for your first meeting, and all subsequent meetings, the more smoothly the process will go. Get all your paperwork together before your first meeting with your new advisor team. Think about the questions and concerns you have and be prepared to bring them up. 

3. Being unwilling to, or forgetting to, mention changes

Your financial advisor team needs to know when change happens for you or your family. Have you have gotten separated or divorced, had a baby, taken in your elderly parents, started a business, closed a business, bought a boat, etc.? True wealth management and financial planning is a dynamic process. The financial plan you and your team developed when you first met them was based on your financial situation at that time. As your needs and circumstances change your plan should be updated.

If you are planning to make a major purchase, or considering a big life change, you should discuss it with you advisor before implementing. Your trusted advisor can help you initiate the change in the way that is most optimal for you potentially reducing tax, saving expense or letting your assets continue to work. This is part of what you are paying them for so take advantage of the service and their advice.

Much like your relationship with your doctor, the more open and honest you are about your situation, concerns and goals the better your wealth advisor team can help you. Moreover, just like your doctor may refer you to a specialist, a great advisory team has access to a wide range of resources for you. Our team has partnered with Raymond James Financial Services giving us access to world class resources such as investment banking, trust company, legal review, and lending to name a few. At the same time, we are fully independent and can work with virtually any investment or product that makes sense for you.

We have helped thousands of people over the last 30 years and welcome the opportunity to speak to you about your personal goals and situation. There is neither a cost nor any obligation to contact our team and we work with people in all 50 states. We look forward to speaking with you. You may contact our office or me personally at randy.carver@raymondjames.com or (440) 974-0808.

The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Any opinions are those of Randy Carver and not necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice.

New Bipartisan Law Encourages Retirement Saving

True bipartisan support of just about anything in Washington has become as rare as sightings of the Loch Ness monster — and almost a tale from the past. Yet on December 17th, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act passed in the House with a 417–3 vote. Two days later, it also passed in the Senate with bipartisan support. Late in the evening on Friday, December 20th, President Trump signed the SECURE Act into law as part of the year-end appropriations package.

This is the first major retirement plan legislation since the Pension Protection Act of 2006, and it affects millions of Americans. The far-reaching bill includes significant provisions aimed at increasing access to tax-advantaged accounts and preventing older Americans from outliving their assets. Our country needed this legislation. According to GOBankingRates’ sixth annual savings survey, in 2019, 69 percent of respondents said they had less than $1,000 in a savings account.

Yet sadly, reporting of this historic bill and its bipartisan support was lost and underreported as the media chose to focus instead on partisan politics.

So what does it mean for you? The Secure ACT has 29 major provisions. Here are just a few key provisions that could have an immediate impact on you:

  1. Section 113 of the SECURE Act raises the required minimum distribution age (RMD) from 70½ to 72. This means that people can now wait to begin making their RMDs. The age 70½ was first applied in the retirement-plan context in the early 1960s and has never been adjusted to take into account increases in life expectancy.
  2. Section 106 of the new law removes the age limitation on IRA contributions. In the past, once you reached age 70½, you could no longer contribute to a traditional IRA, if working, although you could contribute to a Roth IRA. With the new law, there is no age limitation on contributing to a traditional IRA, as long as you have earned income.
  3. Section 401 of the bill reduces the “stretch IRA” provision for nonspouses. Previously, a nonspouse beneficiary could stretch payments from a retirement plan over his or her life. The SECURE Act requires a nonspouse beneficiary to draw inherited retirement plans like 401(k)s, traditional IRAs and Roth IRAs over a period no longer than 10 years.
  4. Some 401(k) plans will automatically enroll you and start deferring part of your salary unless you actively opt-out. Currently, the maximum percentage of employee compensation that may be deferred under a 401(k) plan that includes a “qualified automatic contribution arrangement” (QACA), unless the participant affirmatively elects otherwise, is 10 percent of eligible compensation. Section 101 of the SECURE Act raises this maximum to 15 percent.
  5. Currently, safe harbor 401(k) plans are required to provide an annual notice to participants apprising them of their rights and obligations under the plan, whether the employer safe harbor contribution is satisfied by a matching contribution or a nonelective (i.e., profit-sharing) contribution. Section 102 of the SECURE Act eliminates the requirement to provide such notices with respect to safe harbor 401(k) plans that satisfy the employer safe harbor contribution with nonelective contributions. The notice requirement remains in place with respect to plans that use matching contributions to meet the safe harbor requirements.
  6. Section 112 of the Act provides the ability to draw up to $5,000 from a retirement plan without penalty for the birth or adoption of a child.
  7. Section 204 creates new rules that expand lifetime income options within retirement plans, such as annuities.
  8. Section 302 allows 529 plan owners to withdraw up to $10,000 tax-free for payments toward qualified education loans. However, there is no double-dipping when it comes to federal education tax benefits. Any student loan interest paid for with tax-free 529 plan earnings is not eligible for the student loan interest deduction. Also, the $10,000 limit is a lifetime limit that applies to the 529 plan beneficiary and each of their siblings.

One important item to note is the potential impact on IRA’s with a trust named as beneficiary or a trusteed IRA. We believe it is always good practice for all beneficiary designations of retirement accounts to be periodically reviewed to see if they are still in line with your wishes.  The changes introduced by the SECURE Act make it important to review any situations where trusts are named as retirement account beneficiaries. This is something you should discuss with your estate planning attorney.

In general, trusts created to serve as the beneficiary of a retirement account are drafted in such a manner as to comply with the “see-through trust” rules which allow the trust to stretch distributions over the oldest applicable trust beneficiary. Both Conduit and Discretionary trusts could be treated unfavorably by the provisions in the SECURE Act. For instance, many Conduit Trusts are drafted in a manner that only allows for the required minimum distribution to be disbursed from an inherited IRA to the trust each year, with a corresponding requirement for that amount to be passed directly out to the trust beneficiaries. In light of the changes made by the SECURE Act, for those beneficiaries subject to the 10-Year Rule, there is only one year where there is an RMD… the 10th year! As a result of this change, Conduit Trusts drafted with this type of language may not allow distributions of the inherited account until the 10th year after death (because prior to that 10th year, any IRA distributions would be ‘voluntary’). And then, in the 10th year, the entire balance would have to come out in one year to the trust… and be passed entirely along to the trust beneficiaries (as a mandated RMD that under the Conduit provisions ‘must’ be passed through). The end result could be what would amount to a very high tax bill, as the entire value of the retirement account is lumped into a single tax year as a distribution to the beneficiary.

 Discretionary Trusts may not fare much better though, if at all. It is not yet clear whether the IRS will allow all See-Through Trusts to actually see through the trust to an Eligible Designated Beneficiary. The SECURE Act specifically provides that such trusts can (subject to certain rules) be treated as an Eligible Designated Beneficiary when the applicable trust beneficiary is a disabled or chronically ill person. The law is silent, however, as to how a trust benefiting other Eligible Designated Beneficiaries (i.e., a spouse, a minor child, or a beneficiary within 10 years of the deceased retirement owner’s age) should be treated. Thus, it remains ambiguous. Future IRS guidance will likely be needed to address this question.

Because each person’s planning needs and situation are unique, it’s important to work with your financial advisor to develop a plan that is best for you. The SECURE Act is intended to encourage Americans to save more for their own retirement. As we live longer and do more later in life, it is critical that we have the financial resources to maintain and even enhance our standard of living.

The passage of this bill serves as a reminder that bipartisan work is possible and is happening. Ultimately, the government and regulations will not make financial security a reality for us. We have to take some personal responsibility, and the end results are largely dependent on our own actions.

Please contact our team with questions or if we can help you figure out how to optimize your retirement savings and planning. It’s your vision, and we are here to help you achieve it. Please contact me, or our team, with questions or whenever we may be of service: 440-974-0808 or randy.carver@raymondjames.com.

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The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Any opinions are those of Randy Carver and not necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice.

Ultimate Vacation

It’s been said that retirement is the ultimate vacation. Many people spend more time researching and planning for their next vacation than they do for their retirement. There are a number of reasons for this, but one reason is that often, the process seems overwhelming. Here are five truths about retirement that can shed some light on why many people—and maybe you—put off retirement planning.

1. Retirement planning doesn’t have to be overwhelming or scary; treat it like you’re planning for a vacation, and you’ll be better off. Research shows that 39 percent of Americans spend more than five hours exploring vacation possibilities—while only 11 percent spend the same amount of time researching their 401(k) plans. In our new book, Ultimate Vacation, I walk you through retirement planning just as you would prepare for a trip: where are you now, where you want to go (and why), how you will get there, and what will you do once you’ve arrived.

2. It’s easy to think that retirement planning is all about the numbers. It’s not. If at any point you start to feel overwhelmed, remember, numbers are only one part of the picture. Understanding your numbers is just a way of helping you answer bigger, more important questions—namely, how to align your current reality to your hopes for the future. While most financial planning is investment-centric, our team focuses on each client’s individual, personal vision.

3. You’re likely putting off important decisions because of fear. Our team has heard it from more than a few clients: they put off insurance, long-term care, and estate planning because, as they say, “I worry that if I do it, I’m going to die.” It’s human to feel this way. But even if taking these steps won’t literally kill us, it will remind us of our own mortality, which is scary. The best way to live longer—and to enjoy the time you have—is to plan for the future.

4. Can the FIRE movement really help you retire by age 40? FIRE is an acronym that stands for “Financial Independence, Retire Early.” FIRE is a movement dedicated to a program of extreme savings and investment that allows proponents to retire far earlier than traditional budgets and retirement plans would allow. By dedicating up to 70 percent of their income to savings, followers of the FIRE movement may eventually be able to quit their jobs and live solely off small withdrawals from their portfolios.

But someone using this method would have to save up between 25 and 35 times his or her anticipated living expenses. On the low end, that’s more than $1.3 million, which is a pretty distant goal for most young people. To make the FIRE method work, you would need to maintain a high-paying job and live an austere lifestyle for years—or pray that you get an unexpected financial windfall. For most people, the math simply doesn’t make sense.

5. Budgeting is a lost art. In five easy steps, you can become an effective budgeter without an overwrought or complex process. A 2019 poll by Debt.com of more than 1,000 Americans revealed that precisely 67 percent of respondents had their family on a budget, down from 70 percent in 2018.

Many people either don’t think they need to, or they don’t think they can afford to. But it’s simple to find out how much you spend and where you can save a bit. In the book, I demolish your excuses and layout exactly what you need to do to make big changes in small steps. And no, it doesn’t include itemizing every penny you spend!

Ultimate Vacation: The Definitive Guide to Living Well Today and Retiring Well Tomorrow looks at this entire process and provides a road map you can use on your own or with your trusted advisor. Contact us for more information on how to obtain a copy.

When planned properly, retirement really is the ultimate vacation!

Please contact our team with any questions or if we can otherwise be of service. We are happy to discuss your personal vision and how you can live well today while being prepared for tomorrow. There is no cost or obligation. Contact me at randy.carver@raymondjames.com or (440) 974-0808.

Any opinions are those of Randy Carver, and not necessarily those of Raymond James. Investing involves risk, and you may incur a profit or loss regardless of strategy selected.  Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.

Here We Go Again – Income Tax, Politics, and History

“Income tax returns are the most imaginative fiction being written today.” ― Herman Wouk

The election season is in full swing, and once again, we are hearing politicians campaigning on the idea of raising taxes on the wealthiest Americans and businesses to pay for various programs. 

Intuitively, it makes sense that if you raise tax rates, tax revenue will go up. Moreover, it seems logical that if you raise tax rates on the wealthiest Americans, they will pay a larger share of the income tax.

But it doesn’t work that way. We have written about this for the last decade, and yet history continues to repeat itself with each election.

Tax policy proposed to help lower- and middle-income American’s often hurts them. This is not an economic debate; the facts stand for themselves. This is simply, and unfortunately, politics. Never before have we seen such extremes proposed as we are now, and thus the risk is higher than ever before, for those who are most vulnerable.

Taxing the rich more isn’t the answer

Bernie Sanders is proposing a 97 percent tax on the wealthiest Americans via his “Corporate Accountability and Democracy Plan.” Elizabeth Warren has proposed a 70 percent marginal tax rate, while Alexandria Ocasio-Cortez has also proposed a 70 percent income tax on the country’s highest-earning citizens, to pay for a new green energy plan.

The reality is that today, the wealthiest Americans are already paying the bulk of all income tax.

According to the Tax Foundation, in 2016, the top 50 percent of taxpayers paid 97 percent of all individual income taxes. The top 1 percent of taxpayers paid more income tax (37.3 percent) than the bottom 90 percent combined (30.5 percent).

Some politicians are ignoring history

Yet the debate continues on raising tax rates in the face of mounting government deficits. It makes sense that the government taxes people more and uses the money to reduce deficits. Yet history objectively shows us the impact of lowering tax rates versus raising them, so any debate about this is purely political. Some of today’s issues, such as health-care reform, Social Security and immigration, are often difficult to quantify objectively because we have not had experience with proposed changes. On the other hand, we do have objective experience with income tax cuts and their impact.

Tax cuts have historically shifted the tax burden from middle-income people to the wealthiest Americans while creating jobs and increasing government revenue. This seems counterintuitive, but the fact is true and undebatable. Critics, often with the best of intentions, have said that extending tax cuts and further reducing income taxes will benefit the rich over the poor and will lead to more deficit spending. This simply is not the case. The only reason any informed person would propose raising income tax rates is to gain votes — or to intentionally hurt lower- and middle-income Americans.

The public is told we cannot afford tax cuts due to government spending on entitlements, defense and all the other important things the government does. While cutting taxes in the face of mounting deficits may seem counterintuitive, critics are ignoring history.

Past income tax rate cuts have increased government revenues, boosted our economy, created jobs and shifted the tax burden away from low-income families to middle- and upper-income folks. There is no doubt that we will have to deal with excessive government spending to balance the federal budget. Independent of that, extending and expanding tax cuts, while closing loopholes, is a proven way to increase government revenue. This approach benefits all Americans by shifting the burden to those who can most afford it.

TEFRA from 1982 gives us a great history lesson

The Tax Equity and Fiscal Responsibility Act of 1982 (Pub. L. 97-248), also known as TEFRA, was enacted on Sept. 3, 1982. According to US Treasury statistics, TEFRA increased revenues by $130 billion in its first four years — after tax rates were cut dramatically. The top rate was slashed from 70 percent to 50 percent.

TEFRA was created in response to the recession at the time and faced fierce opposition from those who felt that taxes should be increased, not decreased, to offset government shortfalls. Sounds like a familiar debate, doesn’t it? TEFRA reduced the budget gap by generating revenue from closed tax loopholes and enforcement of tougher tax rules, as opposed to changing marginal income tax rates.

This legislation modified some aspects of the Economic Recovery Tax Act of 1981 (ERTA). Both of these pieces of tax legislation took place during the Reagan presidency.

TEFRA was considered the largest peacetime tax increase in American history as part of a budget deal to get the federal deficit under control. Reluctantly signing the bill into law, President Ronald Reagan stated that he was supporting “a limited loophole-closing tax increase to raise more than $98.3 billion over three years in return for…agreement to cut spending by $280 billion during the same period.” In the period between 1981 and 1986, it was believed that TEFRA would reclaim approximately $215 billion of the $750 billion given up by ERTA. According to the Bureau of Economic Analysis (BEA), the economy’s growth rates after TEFRA took effect were among the fastest in history.

Two years later, the 1984 Deficit Reduction Act increased tax collections by $72 billion in the four years after taxes were cut again. The bulk of these revenue increases came from the wealthiest Americans. This should not have been a surprise.

The broad-based income tax cuts that President Reagan implemented in the 1980s set off an entrepreneurial boom that propelled the growth of the economy for the next 20 years. Certainly, the Clinton presidency benefited from the tax cuts, and to Clinton’s credit, he even added his own cut by reducing the capital gains tax.

Reagan’s detractors point to his lack of sensitivity for social issues and the legacy of his deficit spending — yet his legacy is a positive one. In the seven years following the Reagan tax cuts, almost 20 million good-paying jobs were created, according to the U.S. Department of Labor.

Top earners already pay the lion’s share of taxes

A Joint Economic Committee for the US Congress report in 1996 revealed that the share of the income tax burden borne by the top 10 percent of taxpayers increased from 48 percent in 1981 to 57.2 percent in 1988. Meanwhile, the share of income taxes paid by the bottom 50 percent of taxpayers dropped from 7.5 percent in 1981 to 5.7 percent in 1988.

The middle class also benefited — those between the 50th percentile and the 95th percentile for income. Between 1981 and 1988, the income tax burden of the middle class declined from 57.5 percent in 1981 to 48.7 percent in 1988. The increase borne by the top 1 percent of income earners is entirely responsible for this 8.8 percentage point decline in the middle-class tax burden.

According to the IRS, in 1981, the top 1 percent of income earners paid 17.6 percent of all personal income taxes. By 1988, their share had jumped to 27.5 percent — after the top tax rate had been cut from 69.13 percent in 1981 to 28 percent in 1988.

According to the Bureau of Labor Statistics, inflation, measured by the consumer price index, increased by 49.5 percent between 1977 and 1981. Between 1982 and 1986, inflation was 19.1 percent — much lower than it was prior to the tax cuts.

Across-the-board tax cuts were implemented way back in the 1920s as the Mellon tax cuts and in the 1960s as the Kennedy tax cuts. In both cases, the reduction of high marginal tax rates actually increased tax payments by “the rich” and also increased their share of total individual income taxes paid.

We are here for you, as always

Those who would benefit the most from lower taxes could be hurt, with the best of intentions, by the current path we are going down. Clearly, there is an optimal point below which taxes should not be cut but increasing taxes today does not make sense from an economic or even social standpoint. Lower-income taxes stimulate growth, create good jobs, increase government revenues and shift the tax burden from low-income families to upper-income payers.

If all the intellectual energy that is being used to debate historically established facts were channeled into solving problems that Americans face, instead of promoting partisan rhetoric, all Americans would benefit. Then again, it’s much easier to offer something for free if you’re just hunting for votes. We believe most Americans are too smart to fall for the false narrative about dramatically raising income tax rates.

Regardless of what happens in Washington, our team will continue to take a very proactive approach to legally minimizing taxes for our clients. At the end of the day, it’s not what you make that’s important, but what you keep, net of fees, expense and taxes.

Our Personal Vision Planning Process® focuses on developing a plan to help you achieve your personal goals, regardless of changes to tax rules, the economy or markets. We are here for you. You can contact me personally at randy.carver@raymondjames.com or (440) 974-0808.

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The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Any opinions are those of Randy Carver and not necessarily those of RJFS or Raymond James. Expressions of opinion are as of this date and are subject to change without notice.

Read This Before You React to Those Shocking Headlines About the Stock Market Dip

On August 14, 2019, the headlines were dire:

  • “Dow Plummets 800 Points on Worsening Global Recession Fears” (Fox Business)
  • “Dow Plummets More Than 800 Points on Recession Red Flag” (New York Post)
  • “Dow Tanks 800 Points in Worst Day of 2019 After Bond Market Sends Recession Warning” (CNBC)

Those headlines are indeed alarming…but there was a complete disconnect between what had actually happened and what the headlines implied. The dip was normal. As the MarketWatch chart below shows, this market dip was nothing unusual—and less than what we see about every two months!

Market corrections 1928–2018:

  • 5 percent—About every 2 months
  • 10 percent—About every 8 months
  • 20 percent—About every 30 months

The News Media Aim to Sell Advertising, Not to Educate

People often forget that the business of the news media is not to inform and educate, but rather to sell advertising. Whether they lean the left, right or center, media outlets must attract viewers and readers so they can sell advertising and make a profit. To do so, the media use sensational and often frightening headlines. The use of “click bait” is a widespread phenomenon on the internet. Click bait is content whose main purpose is to attract attention and encourage visitors to click on a link to a particular web page.

With the Dow Jones Industrial Average (DJIA) at 25,000 on August 14th, the drop of 800 points was less than 3.3 percent—again, something we see every few months! Just a 5 percent dip, which has been the average every two months for the past 90 years, would have been 1,250 points, or 50 percent more!

As of September 20, 2019, the DJIA was at 26,900. A normal dip for that number, of 10 percent, would be 2,690 points. You will notice that the media generally ignore the percentage change and rarely give any context. We expect to see 1,000-point swings and more in the coming year. Does that really matter? Only if you panic.

The Benefit of Keeping Your Emotions in Check

Dalbar, Inc., is an independent company that evaluates, audits and rates business practices, customer performance and service. Each year since 1994, Dalbar has conducted its Quantitative Analysis of Investor Behavior (QAIB) study to analyze investor returns. The company has consistently found that the average investor earns much less than market indices would suggest.

Hypothetical Growth of $100,000 over 20 years

Average Mutual Fund Investor – $214,220 Vs. Average Mutual Fund $346,8301.

Source: Quantitative Analysis of Investor Behavior by Dalbar, Inc. (March 2019)

The average investor makes far less than the fund averages largely due to moving in and out of their investments at the wrong time. We are not suggesting someone blindly buy and hold, nor are we suggesting that you can time the markets. We recommend developing and monitoring an overall plan and making changes based on your needs or the overall allocation, rather than headlines or short-term fluctuations.

Panic and Poor Timing Can Cost You

People who panic during these normal dips and sell off their stocks pay a significant price for doing so. The average investor has given up almost half of his or her potential return over the past 20 years by engaging in self-destructive behaviors such as the following:

  • Trying to time the market
  • Chasing hot investments
  • Abandoning their investment plans
  • Reflexively avoiding out-of-favor areas

In March 2019, Dalbar found that the average investor was a net withdrawer of funds in 2018, but poor timing caused a loss of 9.42 percent on the year, compared to an S&P 500 index that retreated only 4.38 percent.

Stick to Your Plan

We have developed and refined a process that accounts for both short- and long-term volatility. The key is to stick with your plan. We expect increased volatility in the markets and even more dire comments and forecasts by the media as we approach the election next year. Those who have a comprehensive plan and stick with it should not be concerned about what lies ahead. Those who do not have a plan, or act emotionally, could pay a significant price for doing so.

Before you react to the headlines you read, take a deep breath, and remember that your well-developed financial plan is designed for performance over the long term.

We are here to help you. Our team has worked with clients for more than 30 years and has the experience, insight and expertise to guide you through what lies ahead. Please contact our team with questions or concerns, whether you are a client or ours or not. We are happy to provide a second opinion, without cost or obligation, even if you already have an established portfolio or plan. Carver Financial Services, Inc. 440-974-0808 or carverfinancialservices@raymondjames.com.

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1. Dalbar computed the Average Stock Fund Investor Return (above, “Driven by Emotions”) by using industry cash flow reports from the Investment Company Institute. The Average Stock Fund Return (above, “Emotions Held In Check”) figures represent the average return for all funds listed in Lipper’s U.S. Diversified Equity fund classification model. The average annual return for these two was 3.9% and 6.4% respectively.

This information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of the professionals at Carver Financial Services, Inc., and not necessarily those of Raymond James. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Investing involves risk, and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation. Examples provided are hypothetical for illustration purposes only. Actual investor results will vary. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional The fact that buy and hold has been a successful strategy in the past does not guarantee that it will continue to be successful in the future. The performance shown is not indicative of any particular investment. Past performance is not a guarantee of future results. Individuals cannot invest directly in any index. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. The Dow Jones Industrial Average (DJIA), commonly known as “The Dow” is an index representing 30 stock of companies maintained and reviewed by the editors of the Wall Street Journal.

Randy Carver and The Story of Carver Financial Services

When life knocks you down, you have two choices: stay down or get up.  —Tom Krause

I have been an entrepreneur ever since I was six years old.  

My first business involved me gathering dandelions, bunching them into bouquets and selling them door-to-door around the neighborhood. I was selling seed packets and wrapping paper at the age of eight. By ten I was making and selling jam.

Then, my world was turned upside-down at the age of twelve when I was diagnosed with non-Hodgkin’s lymphoma. For the next three years, doctors worked to remove the complete lobe of my left lung, parts of my right lung, my spleen and my thymus. Later, a surgery to remove another mass paralyzed my vocal cord, leaving me with the raspy voice, that I have today.

Those three years were among the toughest of my life. The constant chemotherapy, radiation therapy, and surgeries took an incredible toll on me, which was only made worse by the fact that I was being treated for the wrong disease. While I had been diagnosed with non-Hodgkin’s lymphoma, we discovered years later that I actually had malignant thymoma—an entirely different disease.

As a result of the treatment and illness, I missed a lot of school—most of sixth grade, all of seventh and eighth grade, and most of ninth grade.  Despite this, I was learning constantly. The Wall Street Journal became a daily companion, teaching me about financial markets and investing. I also enjoyed watching the hit TV show M*A*S*H.  Alan Alda, the best surgeon in the unit, had the ability to deal with the worst circumstances and still have fun. This example helped to shape my personal values. We can use our experiences to be the best at something, help others overcome adversity and still not take ourselves too seriously.     

Aside from my parents, the person I credit most with getting me through that period was my surgeon, Dr. Robert Filler. He was the only person who, every time he saw me, would look me in the eye and say, “No, you are not going to die.” I’m convinced that his persistent attitude and aggressive approach to helping fight my disease are what ultimately saved me.

Through these experiences, I realized that life is short and needs to be enjoyed. Most of all, I learned that with a positive attitude and persistence, anything is possible. This was something I wanted to help others see so they could achieve their dreams and enjoy their lives.    

It was this mindset that spurred me on through the most difficult times, encouraging me to keep growing as an entrepreneur. At the age of fifteen, I started a catering business in my mom’s kitchen and then founded and ran two successful home-renovation companies. It was with these companies that I realized how building something tangible could help others and how much I personally enjoyed seeing the results of this. Ultimately, this would become the vision for Carver Financial Services Inc.      

First College, Then a Career

After enrolling at Oberlin College in Ohio, I quickly found that all that time spent reading The Wall Street Journal had paid off. To help pay my way, I would borrow money from my professors, and invest it in futures. After a while, I had become so successful with these efforts that one of my professors suggested that I should start teaching others how to invest as well. I took his advice and taught a college credit course on investing. 

In 1987, I graduated with a bachelor’s degree in economics. Originally, I planned to head home and resume my home renovation businesses. I enjoyed interacting with people and loved seeing tangible results of our work as we improved people’s homes. Instead, I took a job with a regional brokerage firm and moved to Mentor, Ohio, where I immediately began knocking on thousands of doors to open a new office for them. I had acquired enough clients in just four months to open my own branch in the spring of 1987.

With a lot of hard work and dedication, my office became one of the company’s most successful within three years.

I suffered another catastrophic setback in March of 1989. I was flying a single-engine plane and was forced to crash-land. I suffered collapsed lungs, broken ribs, a cracked larynx, and a crushed nose. For almost a year, I couldn’t speak. I would write notes, which my assistant would then take and read to my clients. Again, this was a very challenging period, but the experience helped me improve my listening skills and showed me the importance of working with a team, rather than working alone.

Not yet thirty, the bouts with adversity strengthened my sense of life’s fragility and made me even more determined to help others enjoy their lives. When I started in the financial services business, I believed that we could help people achieve their dreams. 

Turning Industry Standards Upside-Down

After three years, I realized that working for a large investment firm would never come close to aligning with my aspiration of helping people build their financial future based on their hopes, dreams and personal vision. I was happy to be helping people, but at the same time, realized that there was a problem with an industry model focused simply on selling investments, not providing outstanding customized experiences. I envisioned a company focused on personal service, where the investments were merely tools to help people achieve their personal vision.

Of the many things years of entrepreneurship had taught me, one key idea was that no matter what business you’re in, the best way to differentiate yourself is through exceptional client service and making a true difference in their lives.

Unfortunately, that wasn’t what I saw most financial advisors, or firms, focusing on. To them, the financial services industry was all about selling investments and getting new clients—not providing lifelong support to the people who had invested with them. In my view, that model of financial services was broken. Financial planners should be helping people create experiences and fulfill their vision of a happy life, not pushing investments. 

I felt that the company I worked for was no different—a product-focused firm that required its advisors to only sell a limited number of offerings. I felt we should be allowed to offer our clients the best possible financial solution, regardless of what company it came from. But unfortunately, our hands were tied.  

Compounding this problem was the focus on getting new clients, rather than providing an amazing service experience for existing ones. To me, this approach was completely backward, and not only didn’t help people with what they really needed—it did not make good business sense either. I knew that working for a large investment firm would always prevent me from providing the kinds of service and experiences, that our clients deserved. So, I decided to set out on my own and build a new model focused on creating holistic experiences for our clients who we would work with for life.

 Because the type of firm that I envisioned didn’t exist, I created it. This was the beginning of Carver Financial Services Inc. in December of 1990.  

The Birth of a True Team

I established Carver Financial Services, Inc. with the vision statement of, “To make people’s lives better—our clients, our team and our community,” and partnered with Investment Management & Research, which is now Raymond James Financial Services, Inc. Our goal was to build a service company that used financial planning and wealth management to help people achieve their personal vision, while simplifying their lives. By partnering with a global firm, we could provide all of the services that any large investment firm could without the pressure to sell any specific product or service. 

While most financial advisors, and firms, focused only on their clients’ financial situations, we were passionate about helping people simplify their lives, seize opportunities to experience life’s greatest gifts, and continually enhance their lifestyles. The vision I had carried since childhood, to live life to the fullest AND to help others do the same, was implemented. 

Our approach proved to be a success. As our practice grew, I quickly realized I could not provide the service needed for all of our new clients by myself. It was time to grow our team.

Here again, we turned the existing model upside-down. Most financial services practices had one sales assistant for every three or four advisors, I wanted to do the opposite, hiring three or four highly skilled client concierges for every advisor. That way, our clients could get the attention they wanted, needed, and deserved from a team of concierges who could handle any and all administrative requests.

In growing our practice, it was important to have a firm that would be around for generations to come. Moreover, I envisioned a team of professionals who not only had outstanding credentials, but also the same values and vision that I did for our clients. To do that we built a team of experts who bring different skills and experience to the table to create a robust support system for an enduring practice. Furthermore, we needed to have younger members who would learn and provide intergenerational longevity to the team. While many financial services firms claim to take a team-based approach to financial planning, team members are usually incentivized based on what they do individually. Our team, on the other hand, works collaboratively and is compensated collectively.

Again, this unique approach paid off. Today we continue to add specific operational, administrative, and planning professionals to our team, and have continued to grow our advisory and support team as well.

Personal Vision Planning®

Over the years, we have developed and refined a process for leading clients to achieve their personal vision for the future, while enjoying the present. We call it Personal Vision Planning.

Personal Vision Planning is different from traditional financial planning or investment planning. We work with our clients to build a clear, personalized vision of what their retirement might look like, and then we plan out how they can get there. The planning is based on your Vision, not investments. Through this process, my team and I offer clients unbiased investment information and a wide range of financial products and services through Raymond James Financial Services, Inc. While we are an independent firm, we custody our assets with Raymond James and have access to all of the resources of a multi-billion dollar global firm whose offerings include, but are not limited to: investment banking, a trust company, an FDIC insured bank and hundreds of experts on a variety of topics of importance to our clients.

This focus on personal vision and quality of life, rather than on the money itself, is very important to me. As a survivor of cancer, a plane crash, and other extreme injuries, I’ve learned first-hand how precious each moment of each day truly is. Rather than simply helping people to grow wealth, Personal Vision Planning helps our clients to live their best lives possible.

Creating Unforgettable Client Services

All of us at Carver Financial Services are passionate about helping other’s enjoy life. In addition to the Personal Vision Planning, we create memorable life experiences for our clients by hosting unusual, once-in-a-lifetime trips and events. Overseas trips, educational and aspiration presentations by national speakers who are experts in various subjects and even a car show are just some of the experiences we offer each year.   

Always Evolving

Throughout this journey, nothing has made me prouder than to watch Carver Financial Services move from being “my firm” to “our firm.” United under the shared vision of making people’s lives better, we have continued to bring in new generations of team members so that the firm, just like our clients and their families, will be here to serve you and your family for generations to come. Understanding that unforeseen things happen we have both a detailed business continuity plan and business succession plan in place so that we will always be here to serve you and future generations, no matter what challenges we face. 

Who knows what the future holds? Life is full of twists and turns. Some of them are wonderful, and others are life-threatening and awful. When we conquer difficulties, we learn that we can be or do anything, despite our circumstances. My experiences have shaped my passion to enjoy life and to be intentional about every action I take.

Our entire team is committed to helping you simplify your life, while enhancing your lifestyle as you live your future intentionally, with both a plan and a purpose. We are focused on sharing that journey with you, every step of the way. Our practice will continue to evolve while maintaining our vision of making people’s lives better. The things we do and the way we spend our time are so important and we appreciate you taking time to read this!  Please let us know whenever we can be of service—have an amazing day!   

You can reach Randy at randy.carver@raymondjames.com or 440-974–0808.