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Financial planner helps people prepare for a worry-free retirement

By PAULETTE LeBLANC - | Jun 16, 2021

Chad Michaels with his wife Britney and sons Connor and Garrett. Photo submitted by Chad Michaels

pleblanc@breezenewspapers.com

Chad Michaels says his clients don’t have to glue themselves to the TV to watch the stock market, because they’ve entrusted him along with the team from Spyrnal with their financial stability to make sure their income doesn’t stop, enabling them to enjoy retirement however they see fit. Michaels is a certified financial planner, which, he said, is the equivalent of holding a masters degree in finance.

According to Michaels, being a CFP gives him a broad knowledge of his client’s financial picture, such as planning for education, investment or business structure.

“We do 401K plans and other plans for business owners, all the way to retirement, and at the end of your life we know what your legacy will look like,” said Michaels.

A CFP is one of the strongest designations, if not the strongest in giving you all aspects of financial planning, he said, adding only one in eight financial advisors is a certified financial planner on average. One has to have five years experience, he said, before they are allowed to sit for the test.

“They hold you to a higher ethics level — the fiduciary standard is a word that’s used very heavily in our industry,” said Michaels. “You can be a specialist in the field and not have a CFP, but to be honest it’s something I feel is extremely necessary to help clients.”

Michaels said to be a true fiduciary, he knew he would have to be independent, and couldn’t see himself working at a “big box store,” because of the rigid guidelines. He came out to the island and met George and Tim Spyrnal and began work at their office.

The Spyrnal group primarily works with retirees, he said, but they have many younger clients who are saving money, so they’ve put together investment plans to help them get to where they’re going, such as advice on how to save for a 401K. Retirement, he said, can be scary for someone who is accustomed to getting a paycheck for 40 years and it becomes a whole different mindset.

Spyrnal is active in 19 different states now, although it only markets in Florida.

“We’ve built a great team,” Michaels said. “We’ve done a lot of really good things for people out here in Pine Island. Predominantly, getting the CFP was really important to me from day one. We’ll sit down and speak to anyone to see if they’re a good fit. If I can help, I will, and if I can’t, I will tell you where you need to go to get that help.”