Randy Fairfax, CFP®

Randy has more than 30 years experience in the finance and business advisory fields. As a consultant, he has primarily worked with non-profit organizations, closely held businesses and high capacity families. He has extensive experience in charitable organizations and planning. He has helped families and non-profits leverage tactical analysis with organizational strategies to be more efficient and effective increasing their financial resources. Randy obtained his undergraduate degree in accounting and MBA in Finance from the University of Akron. He has also earned the Certified Financial Planner designation. He is a member of the National Committee on Planned Giving and the Financial Planning Association.

Recent Posts

Who will inherit your wealth? Your heirs or the IRS.

Consider these three facts:

  1. Americans held $7.9 Trillion in IRAs by the end of 2016. (2017 Investment Company Institute Fact Book)
  2. With more than 10,000 baby boomers retiring every day, we are on the cusp of an historic intergenerational wealth transfer that could total as much as $3.2 trillion. (RBC Wealth Management Survey.)
  3. As much as 30-80% of an estate could be made up of IRAs or other retirement plan assets according to most estimates.

And, let’s add a fourth fact that is worth considering: Only 3 in 10 of families have a wealth transfer strategy in place.

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Are your windows clean?

First law of window cleaning…the dirt is always on the other side.” Anonymous

With the arrival of spring, I find myself thinking of this quote. It’s too true for me. And in my profession, I regularly meet people who tell me they feel the same way about making financial decisions. Just when they decide to get into the market, it plummets. When they sit on the sidelines, the market roars back to life.

Many people feel they’re on the wrong side of the financial markets—the wrong side of the glass.

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Family Wealth Management – Have You Tried it All and It’s Not Working?


 

Sir Winston Churchill once said…

“Americans can be absolutely relied on to do the right thing… after they have tried everything else.”

In our current political environment unprecedented in its volatility, what will we, as a country, try next?

On a personal level, we can also get buried in information and noise. Too often “the right thing” is buried in a deluge of information that overwhelms and paralyzes us.

We don’t know what to do, and we even lose hope that we can do much of anything to positively impact our future. We hear so many ideas pitched to influence and persuade us, but, ultimately, who cares for our interests? Who’s willing to pledge themselves to serving our best interests? [Click to Continue Reading...]