Five Star award winner Alisa Roth

Top Financial Concerns of Professional Women

TOPICS TO CONSIDER TODAY AS YOU PLAN FOR TOMORROW.
Women are frequently pulled in many different directions. Oftentimes, juggling the responsibilities of a career, family and household leaves very little time to attend to financial issues. However, a little planning today can save you, and your loved ones, from stress and uncertainty in the future.
Here are the top concerns faced by many professional women, along with some simple steps you can take today to prepare for tomorrow.

Education planning (saving for college)
If helping pay for your children’s college education is a goal, consider the various investment vehicles that may help you along the way. Regular contributions to a 529 plan can be a great start. The key? Save early and save often. Even small, regular contributions today can make a difference down the road.

Work-life balance
Women who feel pressure to be perfect in every aspect of their lives often find themselves falling short. It’s important to focus on what’s important and delegate responsibilities that do not bring fulfillment. If you’re able, hiring a house-cleaner can free up valuable free time to spend with your loved ones or pursuing a new challenge at work. Working with a wealth advisor is another way to delegate responsibilities and gain peace of mind that your financial life is well cared for.

Transition planning
One of the most difficult challenges faced by men and women alike is an unexpected life event, such as a divorce, unexpected career change or the death of a loved one. While it’s impossible to predict whether such an event will occur, it is possible to take precautions such as ensuring your account beneficiaries are up-to-date, establishing an emergency fund and ensuring you have adequate insurance coverage.

Essential documents
It’s important to know that your careful planning can easily be derailed if you don’t have the proper documentation in place. Be sure to establish the following documents and update them any time you have a change in your current situation or objectives: will, trust, healthcare directive, power of attorney, beneficiary designations, etc.

Health insurance
Another challenge to your financial planning can result from an unexpected health challenge faced by you or a loved one. Take care to select the best health insurance coverage for you and your family.

Retirement planning
How much will you need during retirement? How much should you be saving today to reach your goal? What types of retirement accounts are most appropriate for your specific situation? Are your investments in line with your objectives? These are important questions that an experienced wealth advisor can help you answer to ensure you’re on track to achieve your retirement goals.

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This award was issued on 01/01/2024 by Five Star Professional (FSP) for the time period 04/10/2023 through 10/31/2023. Fee paid for use of marketing materials. Self-completed questionnaire was used for rating. This rating is not related to the quality of the investment advice and based solely on the disclosed criteria. 1,897 Kansas City-area wealth managers were considered for the award; 136 (7% of candidates) were named 2024 Five Star Wealth Managers. The following prior year statistics use this format: YEAR: # Considered, # Winners, % of candidates, Issued Date, Research Period. 2023: 1,843, 138, 7%, 1/1/23, 4/18/22 - 10/21/22; 2022: 1,670, 128, 8%, 1/1/22, 4/20/21 - 10/15/21; 2021: 1,678, 118, 7%, 1/1/21, 4/20/20 - 10/23/20; 2020: 1,579, 115, 7%, 1/1/20, 4/1/19 - 11/13/19; 2019: 1,574, 134, 9%, 1/1/19, 5/11/18 - 11/27/18; 2018: 1,387, 119, 9%, 1/1/18, 5/17/17 - 11/30/17; 2017: 952, 212, 22%, 12/1/16, 3/26/16 - 11/28/16; 2016: 880, 216, 25%, 11/1/15, 5/20/15 - 10/15/15; 2015: 1,572, 201, 13%, 12/1/14, 5/20/14 - 10/15/14; 2014: 785, 176, 22%, 12/1/13, 5/20/13 - 10/15/13; 2013: 766, 203, 27%, 12/1/12, 5/20/12 - 10/15/12; 2012: 676, 200, 30%, 11/1/11, 5/20/11 - 10/15/11.

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Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. The award is based on 10 objective criteria. Eligibility criteria – required: 1. Credentialed as a registered investment adviser (RIA) or a registered investment adviser representative; 2. Actively licensed as a RIA or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by FSP, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or FSP’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through FSP’s consumer complaint process; feedback may not be representative of any one client’s experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria – considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. FSP does not evaluate quality of services provided to clients. The award is not indicative of the wealth manager’s future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their clients’ assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by FSP or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by FSP in the future. Visit www.fivestarprofessional.com.