Rick focuses on providing wealth management solutions to successful business owners, professionals, and corporate executives in the Atlanta metro area. Working closely with his clients, he helps them address their major concerns: building and preserving their wealth and independence, mitigating taxes, taking care of their heirs, ensuring that their assets are not unjustly taken, and charitable giving.
Rick joined Atlanta Financial as a principal in August 2012, through the merger of Atlanta Financial with Rick’s company, Cornerstone Wealth Management. He uses a process that is both consultative and collaborative to gain a detailed understanding of his clients’ deepest values and goals. He then employs customized recommendations designed to address each client’s unique needs and goals beyond simply investments.
Successful individuals and families work with Rick to:
- Develop and implement a comprehensive wealth management plan to help them reach their financial dreams
- Make smarter decisions in today’s uncertain political, economic, and social environment
- Obtain an independent second opinion from a top financial advisor in their community
Prior to joining Atlanta Financial, Rick provided his clients with wealth management advice for more than 20 years, most recently for almost 14 years through his own firm, Cornerstone Wealth Management. Rick began his career at Arthur Andersen and Co., focusing on taxation, and followed that by working with a leading Georgia accounting firm serving the types of clients that Rick continues to enjoy working with today.
Rick graduated in 1980 with honors from Furman University. He became a Certified Public Accountant (CPA) in 1982 and obtained the CERTIFIED FINANCIAL PLANNER™ professional certification in 1992. He also holds the Accredited Investment Fiduciary® (AIF®) designation.
Rick’s commitment to his clients and to continuous learning has earned him recognition and a loyal clientele. Rick is a seven-time recipient of the Five Star℠ Wealth Manager* award.
Rick and his wife, Linda, have been married for 26 years. They are longtime residents of Peachtree Corners and have two teenage daughters. When not working with his clients, Rick enjoys golf, running, and spending time with his family.
*Based on 10 objective eligibility and evaluation criteria, including a minimum of 5 years as an active credentialed financial professional, favorable regulatory and complaint history, accepts new clients, client retention rates, client assets administered, education, and professional designations. In 2018, 3,248 Atlanta wealth managers were considered for the award; 287 (9 percent of candidates) were named 2018 Five Star Wealth Managers. These awards are not indicative of the wealth manager’s future performance. Your experiences may vary. For more information, please visit. www.fivestarprofessional.com.
Want to see some amazing results in your life? It’s been said that a man with health has a thousand dreams, while a man with no health has but one. Don’t you owe it to yourself, your family, your career and your community to have not only a thousand dreams, but also the energy and engagement to make them happen?
When talking with my clients who own businesses, many of them have a goal to sell their business for full value so that they will be able to fund the retirement lifestyle they desire, take care of their family, and support the charitable intentions that are important to them. Unfortunately, many owners will probably not be able to sell their businesses when they are ready because they are not taking critical steps needed toward a transition or toward getting the full value of their enterprise, even though many of them have 80-90% of their financial assets/net worth based in the business itself. 1 The fact that most business owners are not taking the critical steps to prepare their businesses for sale is supported by a recent study conducted by the Exit Planning Institute that showed that only 20-30% of the businesses that go to the market actually end up selling.2 If you are a business owner and your plans include selling your business sometime in the future, what can you begin doing today to enhance your business’ value and make it more attractive to a future buyer?
In working with my retired or soon-to-be retired clients, perhaps the most frequent question I am asked is “What is the best way to withdraw from my investment and retirement accounts in retirement in order to provide me my desired retirement income?” I believe they ask me this question because many of them have investments in a mix of different accounts with varying tax characteristics such as taxable investment accounts, IRAs, 401k or retirement plan accounts, Roth IRAs, and possibly real estate investments such as rental property. In addition to that, they may also have retirement income coming in from multiple sources and at different times such as Social Security income, pension income, and deferred compensation. If you are interested in increasing what you can spend in retirement and reducing the impact taxes have on your retirement nest egg, it is important to have a multi-year retirement income plan that takes into account the impact taxes will have on both your retirement income sources, and the withdrawals you take from your different investment and retirement accounts.
For many people, a time will come when a parent, spouse, sibling or other beloved family member passes away and they will inherit IRA assets. Because the rules regarding inherited IRAs are not simple, mistakes are often made with inherited IRAs, whether they are inherited by spouses, children or others. In our experience in working with married couples, most of them name their spouse as the primary beneficiary of their IRA or other retirement accounts like their 401(k) or 403(b). Therefore, it is important for married couples to know how to apply the rules when a spouse inherits an IRA.
In working closely with two separate, long-term clients over the last three months, I saw first-hand how they and their families experienced the benefits of having their assets in a revocable living trust. Depending on your circumstances, a revocable living trust could be very beneficial to you and your family. For my older clients, it is something that I highly recommend they consider. Below I will highlight five key advantages of having a revocable living trust and how having one may be beneficial for you.
In a blog that I wrote a few months ago regarding asset protection, I mentioned that a generally efficient and expedient way for many people to protect their assets is by having an appropriate umbrella liability policy in place. However, this is a part of a comprehensive financial plan and strategy that is often either overlooked or not kept current by many people, so I wanted to follow up with some more detail on the importance of umbrella liability insurance policies. Why do you need an umbrella insurance policy? How would you answer the following questions?