New Year, New Financial Plan

With the new year comes reflection, resolutions and good intentions. Whether it is adopting a healthy lifestyle or organizing the garage, setting and meeting goals produces a sense of accomplishment. Putting one’s financial affairs in order is just as important, according to David Strunc, C.R.P.C., of Sunrise Wealth Advisors.

Today’s volatile and challenging economy is cause for investors to be particularly diligent in the management of their funds, especially if they are close to retirement.

Sunrise Wealth Advisors was co-founded by Strunc and Nicholas J. Russell, C.R.P.C., with the idea of breaking away from the big firms and wire-houses’ way of only selling their company’s products, by not selling any in-house products and providing advice that is completey independent and unbiased. Sunrise Wealth Advisors impartially shops annuity, insurance and investment companies to truly let clients know what options are available, as well as the pros and cons of each.

Though Sunrise Wealth Advisors maintains its independence, the firm is backed by Woodbury Financial Services, a company that serves as broker-dealer for independent financial services representatives across the nation, which has been in business since 1910 and received  the distinguished honor of broker of the year awards in 2006, 2009 and 2011 from Investment Advisor Magazine.

“The first time I meet with a client, I tell them to leave their checkbook at home and that I will not be asking for them to make any decisions at that time,” Strunc said. “Our philosophy is low-pressure sales. The first meeting is to get to know them, what their goals are, and to see if they feel comfortable with us. I’m interested in establishing a long-term relationship. Most of my clients have been with me for a long time. Our interaction is more than a business relationship; it becomes a friendship. When people look for an adviser, they want someone who will be there during all of the transitions in their lives.”

Sunrise Wealth Advisors can help with all aspects of financial planning, but their speciality is providing retirement income for clients.

“The worst thing someone can do during retirement is to have all of their assets in investments with yields so low that they do not produce enough income to maintian their standard of living,” Strunc said. “On the contrary, one typically should not have all of their assets in equities when they need to be drawing income, as a downtown in the markets could devastate their retirement nest egg. We work with our clients on providing a strategy that positions long-term assets to have a higher equity allocation while having enough money in other asset classes to provide shorter term liquidity and diversification benefits. We consider ourselves retirement income experts — planning for life after 65.”

Many people save money their entire lives through 401(k)s, retirement plans, individual retirement accounts and other funding vehicles. Upon retirement, they may ask themselves, “Now, what?”

Sunrise Wealth Advisors can help them maximize those funds and set up a stream of income that promotes a certain standard of living, while protecting their children’s inheritance.

“Each meeting is a follow-up on the previous one,” Strunc said.

In addition to making necessary adjustments to the financial plan based on current market conditions, Strunc helps clients establish mini goals and earmarks that they can work toward to achieve.

“I have found that this accountability helps clients stick to the plan,” he said.

Sunrise Wealth Advisors also monitors the economy, politically charged issues or other factors — both nationally and internationally — that could affect one’s financial stability or outlook.

“We stress to our clients that we are not going to be day-trading their accounts, especially those who are building a nest egg, because our goal is long-term stability,” Strunc said. “However, if we see certain factors that may indicate the market or economy is deteriorating or tax-law changes that are going to affect certain sectors, we contact our clients with recommendations. My job is to stay on top of things and proactively manage their portfolios.”

David Strunc is an investment advisor representative and offers securities and investment advisory services through Woodbury Financial Services Inc. Member FINRA, SIPC, and Registered Investment Adviser, P.O. Box 64284, St. Paul, MN  55164; 800-800-2638. Sunrise Wealth Advisors Inc. and Woodbury Financial Services Inc. are not affiliated entities.

Sunrise Wealth Advisors is located in Suite 101 at 6052 Turkey Lake Road in Orlando. For more information, call 407-237-0116 or visit www.sunrisewealthadvisors.com on the Web.