Financial Advisors - Frequently Asked Questions

 

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Financial Advisors - Frequently Asked Questions

Please contact Dave Mayer, First Vice President and Program Manager, by phone at 1.800.808.5404 or 989.839.5390 or by email at David.Mayer@ChemicalFinancialAdvisors.com

Yes, a brokerage license is required to buy and sell stocks. An Investment Executive can set up a brokerage account for you and help you with your transaction very quickly. A brokerage account allows us to track your investments and report the required information to the Internal Revenue Service. Confirmation Statements and Monthly Statements are sent to you to document the investment activity in your account.

It is best to have securities remain with the Broker/Dealer (in our case PrimeVest Financial Services) for safe keeping. This is often referred to as ‘held in street name’. The detail reporting on your securities is sent to you monthly if there is account activity, or quarterly. If securities are issued in paper form, they should be kept in a safe deposit box because replacement of lost securities is expensive and time consuming.

Investing can be intimidating but it is the important first step to building a secure financial future. Our Investment Executives can help you identify your financial goals and a timeframe which will guide you on how much you need and the appropriate investments to use.  Make an appointment today with one of our Chemical Financial Advisors to start on your path to a secure financial future

Your Investment Executive can help you pick investments that will allow you to grow your assets while minimizing your taxes. Part of your investment planning will include managing taxes through tax deferred or tax free investments along with other strategies to minimize taxes. *

In order to live comfortably after retirement, you must determine how much you will need to support your lifestyle. The goal for most people is 80% of preretirement income to maintain their current lifestyle. Your Investment Executive can help you determine what will be required and help set up a plan to build your retirement funds. A good plan needs to be reviewed from time to time to make sure it keeps up with changes that have occurred.

The Required Minimum Distribution (RMD) is the amount the IRS requires you to withdraw from your Traditional , SEP or SIMPLE IRA each year starting when you turn 70 ½. The contributions made to a Traditional IRA are allowed to grow tax-deferred so you do not have to pay taxes on the income you have made until you withdraw the money. It is expected that you will withdraw regularly in retirement and pay taxes on the money you have accumulated. *

When you leave an employer for whatever reason, you generally can do a rollover with your 401k to a Traditional IRA. Very often this makes sense because you may not get adequate information on the plan after you leave the company because you are not invited to employee meetings to discuss the plan and any changes that might take place. The investments might not be the best ones or the best selection to meet your needs. Your Investment Executive can discuss the advantages that a rollover might have for you.

It is very important to review your life insurance needs periodically. Things change as we go through life and the life insurance plan needs to reflect these changes. Sitting down with an Investment Executive is the best way to make sure that your plan will take care of the people you love should something unexpected happen. The Investment Executive can review your needs and make sure your coverage is adequate and includes the right products.

*Consult your tax counsel for advice and information concerning your particular circumstances. Neither PrimeVest, nor any of its representatives may give tax advice.

Cetera Disclosure:   Securities and insurance products offered through Cetera Investment Services LLC, member FINRA/SIPC. Advisory services are offered through Cetera Investment Advisers LLC.

Investment Representatives are registered to conduct securities business and licensed to conduct insurance business in limited states. Response to, or contact with residents of other states will only be made upon compliance with applicable licensing and registration requirements. The information in this website is for U.S. residents only and does not constitute an offer to sell, or a solicitation of an offer to purchase brokerage services to persons outside of the United States. View Cetera Investment Services privacy policy and other important information.

Investments are: • Not FDIC insured • May lose value • Not financial institution guaranteed • Not a deposit • Not insured by any federal government agency.

Cetera Investment Services and Cetera Investment Advisers are under separate ownership from Chemical Bank and its related companies. Advisory services may only be offered by Investment Adviser Representatives.