ATLANTA, May 17, 2016 /PRNewswire/ --Triad Advisors, Inc. today announced that Keeney Financial Group (Keeney Financial) has transitioned to the Triad Advisors broker-dealer and hybrid RIA multi-custodial platform. Keeney brings $350 million in client assets, as of March 2016, which is approximately evenly split between fee-based advisory and brokerage accounts. Triad Advisors is a leading independent broker-dealer supporting independent hybrid financial advisory practices and registered investment advisory (RIA) firms, and is a wholly owned subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSE MKT: LTS).

Based in Columbia, MD, Keeney Financial Group provides financial planning and wealth management to its mass affluent, business owner and high-net-worth clients. With approximately $350M under management, Keeney Financial Group has earned the distinction of impeccable service through their high-touch, concierge approach to client services. Their personalized attention is augmented by state-of-the-art technologies allowing their financial advisors to provide deliverables and gain efficiencies in helping clients appreciate the difference between merely living and living well. Underscoring Keeney Financial Groups commitment to exemplary service is their personal stake in client satisfaction the firms compensation packages are tied to client service metrics.

A 2013 Pew study shows that the number of families with female breadwinners increased from 11 percent in 1960 to 40 percent in 2011. The study also notes that when a woman is the primary breadwinner, the household is likely to have a higher income. Women make up just over half of the total population in Monroe County and while the earnings gap between men and women has narrowed, differences still remain. For instance, women generally have longevity on their side, but they may also have fewer years in the workforce and less time to focus on financial planning. So, it is important for women to take extra care in planning for their long-term financial security.

In my upcoming seminar, "Strong Women, Powerful Financial Strategies," on May 19, we'll take a look at how the following five steps affect women in every stage of life.

Defining your goals and dreams: Many women avoid financial planning because they don't know where to begin. Getting started can actually be the most enjoyable part because it means dreaming big! Once your dreams are clear, you can begin setting goals to reach them.

Understanding your current financial situation: Analyzing your financial situation can help you understand where you stand today and how much further you need to go to reach your goals. By working with a financial professional and regularly reviewing indicators, like net worth and cash flow, women can manage their assets and liabilities more efficiently and with fewer surprises along the way.

Building and protecting your wealth: I urge women to continuously build up their savings at all stages of their careers. For some women this might mean setting aside smaller amounts earlier in life. For others it may mean making larger contributions during their peak earning years. Maintaining a commitment to consistently pay yourself as well as sticking to an investment strategy designed to match your unique needs can help contribute to greater successes in building wealth.

Additionally, protecting your wealth through insurance coverage can help you stay on track and provide some extra breathing room during times of uncertainty.

Planning for retirement: Longer life expectancies for women mean they're at a greater risk of outliving their income, so it is especially important to develop a retirement withdrawal strategy that will provide the income necessary to sustain a longer retirement period, minimize the effects of taxes, and keep their investment allocation diversified and in line with their individual situation.

Leaving a legacy: Whether you intend to leave your legacy to your children and grandchildren or to a charity, creating a plan for how your assets will be divided allows you to retain control of these important decisions and helps ensure your wishes are honored. A great way to accomplish this is through estate planning.

At Council Rock Wealth Advisory Group, a financial advisory practice of Ameriprise Financial Services, Inc., we are committed to providing personalized financial care for our clients. For more information, please join me for our complimentary seminar on May 19.

This Weeks Nextpert:

Mary Beth Fairchild, CFP®, CRPC®, APMA®, is a Financial Advisor with Council Rock Wealth Advisory Group, a financial advisory practice of Ameriprise Financial Services, Inc ., Ameriprise Financial Services, Inc. She has been in practice for 20 years. She is located at 2280 East Avenue, Rochester, NY and can be contacted at or at (585) 461-2280.

Interested in being a Nextpert? Email: This email address is being protected from spambots. You need JavaScript enabled to view it..

Even advisers with decades of experience buying and selling investments for clients may have no experience selling a financial advisory practice.

That can be an issue for these veteran advisers when they are ready to sell a business they built or perhaps transition to retirement by combining it with another firm. Some make rookie mistakes during...

Should advisers tell clients to follow the rule of thumb and reduce their expenses by 30% during retirement?

"The idea of having to reduce one's budget to fit into a pre-determined financial framework may create a sense of sacrifice that makes the prospects for the future look dim," says Claudia Mott, a CFP and the principal of Epona Financial Solutions in Basking Ridge, NJ

"On the other hand, when clients can be shown various what-if options that consider different expense and income scenarios, they are presented with choices," she says. "Being given the opportunity to see how changes can positively impact the outlook for the future may be viewed as less of a sacrifice and more of a win."

Kevin Meehan, a CFP and regional president of Wealth Enhancement Group in Itasca, Ill., advises clients to determine what is most important to them, which helps them avoid making overly emotional spending decisions.

Advisers shouldn't suggest that clients reduce their spending by a pre-determined amount during retirement, as circumstances can change, says Catherine Seeber, a CFP and a partner and senior adviser at Wescott Financial Advisory Group in Philadelphia.

"In retirement, you may give up the fancy clothes because you no longer go to the office but your medical expenses go up," she says. "If you hang your hat on a percent or a benchmark instead of doing long-term projections with realistic assumptions, you will always set yourself up for failure."

Sarah Wotherspoon, a CFP and a principal at Private Ocean, an independent wealth management firm in San Rafael, Calif., says that she has never told clients to reduce their expenses by 30%.

Still, she has to inform some clients that they don't have enough money saved to maintain their lifestyle during retirement. That can be tough if the client's significant other feels differently about their financial options.

"One partner might say, 'Yes, selling our home and moving would be no big deal,' but the other might have a significant emotional attachment to the home they've raised their children in and have lived in for decades," Wotherspoon says. "It's helpful to approach them about these decisions as early as possible, because it can take months, or even years, for them to decide."

But sometimes clients need to make decisions quickly, and Wotherspoon helps them through that process both by using their financial models to illustrate their options and helping them objectively weigh the pros and cons.

"With every financial decision, there is the economic element and the psychological element," she says. "We consistently find that including both in the decision-making process results in the 'right' decision."

This story is part of a 30-30 series on preparing for retirement.