Deals & People July 29, 2011

Founders Names New Financial Advisory Partner

Founders Financial Network, an independent, fee-only investment advisory firm and RIA, has selected Jovita Honor as its new partner.
Reported by

Honor joins the firm with more than fourteen years of experience providing personal financial advice and counseling to families and individuals in all areas of their financial lives, ranging from investment management and college planning, to retirement and estate planning. 

Prior to joining Founders, Honor was a founding principal at Prialta Advisors. She previously worked as a financial adviser with Wade Financial Advisory, providing comprehensive financial planning and wealth management for Silicon Valley individuals.  

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Honor graduated from the University of California, Berkeley, Walter Haas School of Business with a BS in Business Administration with emphasis in Finance and Real Estate. She is a Certified Financial Planner practitioner, an Enrolled Agent, and a member of the National Association of Personal Financial Advisers as a Registered Financial Adviser. Honor also holds the Certified Investment Management Analyst designation. 

“We are delighted to welcome Jovita,” said Robert Kresek, managing partner at Founders. “She is an exemplar of the independent high level financial guidance and client service that has continually defined Founders Financial Network and we are excited for her to add to the strength of our current leadership team.” 

Data & Research July 29, 2011

Employees Focusing More on Retirement Planning

A report from Financial Finesse argues that many employees are putting significantly more focus on retirement planning, having addressed their immediate financial concerns.
Reported by

The company said nearly 60% of questions received by its financial planners were on long-term planning issues in the second quarter versus 48% last year. Additionally, over 25% of employees’ questions were specifically about retirement planning, up from 20% in Q2 2010.  

However, as employees are shifting their focus to retirement planning, they are realizing just how far behind they are. Only 14% of employees said they felt confident they were on track to replace at least 80% of their income in retirement despite the fact that employee participation in company-sponsored retirement plans increased six percentage points to 91%, up from 85% this time last year.  

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Financial Finesse said it believes the decline in the percentage of employees reporting they are prepared for retirement is actually a positive sign that a nationwide retirement crisis can be avoided because employees are coming out of denial and taking the steps needed to fix the problem.  

The Trends in Employee Financial Issues Q2 2011 report also shows employees are sustaining, and in some cases building upon, improvements in their finances, a trend the company has seen since late 2009 when employees started to take more control of their finances in response to the recession.   

In the first two quarters of 2011: 

  • 71% of employees reported having a handle on their cash flow vs. 64% in 2010
  • 88% reported paying bills on time, up from 82% in 2010
  • 53% reported having an emergency fund in place vs. 48% in 2010
  • 57% reported regularly paying off credit card balances, up from 51% in 2010
The report is here.

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