As one of its varied efforts to build a strong Jewish community in Middlesex County, The ROC of NJ (Raritan Valley Orthodox Jewish Community Association) sponsored a financial retirement planning seminar at the Bridge Turkish and Mediterranean Grill on May 17. The event, which included a free dinner, was led by Bennett Degen and Alan Eisenstein, two observant Jewish community members (both live in West Orange) who are experienced financial planners affiliated with The Investment Center of New Jersey.
The Investment Center is an eight-time winner of Investment Advisor Magazine’s Broker-Dealer of the Year. By joining The Investment Center, a financial advisor has full access to a diverse team of highly accomplished experts in the financial services field, including finance, marketing, technology, and practice management.
As Degen and Eisenstein said at the dinner, community members should consider the following ideas when seeking to plan their retirement with a financial services advisor: First, does the advisor have a good grasp of the unique, recurring annual expenses that accompany an observant Jewish lifestyle? Second, does the advisor offer financial projects that assume some of the risks of financial investments? Degen and Eisenstein work with some products with ‘buffer services’ that shoulder anywhere from 5%-100% of the possible losses of an investment, with the level of protection tied to the likelihood of a greater return. Also, does the advisor offer financial products with ‘mailbox money’? Similar to a pension, these products can be tailored to offer different monthly payouts which are guaranteed to last the lifetime of the investor, while (in many cases) also offering a benefit to the survivors on the passing of the investor. Finally, does the advisor make money from the certain financial products they offer or does he/she receive a fixed commission? (This latter approach ensures that the advisors’ interests better align with those of the investor.) Degen and Eisenstein receive a fixed 1% commission on all the financial products they offer.
“I am happy that Bennett Degen asked if The ROC would co-host this event,” said Josh Pruzansky, founder, president and CEO of The ROC of NJ. “Anytime The ROC can facilitate the presentation of information that is helpful to the community, we see it as a win-win for all involved.”
For more information on the financial services they offer, you can contact Bennett Degen at [email protected] and Alan Eisenstein at [email protected]. Their office number is 973-996-4635.
By Harry Glazer
