Broker Check

Planning for Lifetime Income

A personal CFO with vision.

Few investors understand the challenge of achieving lifetime income. Too many think they can open any arbitrary 401(k) plan, apply for Social Security and then enjoy a steady retirement income stream.

Unfortunately, it’s not so simple these days. “Investors think they can do what their parents did, yet they’re outliving their parents by 10 to 20 years,” says Van Comin, financial advisor and co-founder of RedStone Advisors.

To avoid that common pitfall, RedStone Advisors builds customized lifetime-income plans that help put clients on the right path from the beginning. “ at’s the thrust of our  business,” Comin says.

Seeing the Destination

Financial advisor and RedStone co-founder James Moyes makes an analogy to a man walking down a street: “If he wants to get to the stop sign across the street, he can’t just start walking in any general direction and hope he gets there. He’s got to see that stop sign first and then recognize the path. It’s the same for lifetime-income planning.”

RedStone manages retirement plans for a wide variety of companies, but Moyes says its sweet spot is businesses with about 200 to 300 employees and $5 million to $10 million in assets. “What sets us apart is we’re able to spend quite a bit more time with our clients,” he says.

Through a detailed, collaborative process with clients, RedStone advisors develop clear financial paths. They then update plans as clients’ priorities—and income needs—change over time. “Everybody’s destination is different,” Moyes says. “You can put together something for a 30-year- old today, but it needs to be updated at least annually because the destination may be drastically different at age 65.”

RedStone encourages clients to stay focused on growth, even as they approach retirement. “People sometimes make the mistake of being too conservative,” Comin says. “ at might have been OK when people lived only 10 years into retirement, but today you need growth of assets, even while retired, to keep pace with inflation and to sustain income down the road.”

National Recognition

RedStone has received national recognition for planning and managing retirement plans for companies. The National Association of Plan Advisors (NAPA) has invited the firm to be a part of its Elite Advisors Group.

RedStone also was nominated for a leader-
ship award based on NAPA, while Wells Fargo Advisors Financial Network, which manages RedStone’s back o ce, recognized the firm as a “Premier Advisor.”

A fee-based rm, RedStone believes in “managed money” rather than index-related investing and seeks the best portfolio managers with track records better than popular indices.

“Our clients look to us as their household CFOs,” Moyes says.