Question 1

What is a fiduciary financial advisor?

Accepted Answer

A fiduciary financial advisor is legally required to act in your best interest at all times. Unlike brokers who operate under a suitability standard, a fiduciary must recommend the best available option for you — not the one that pays the highest commission. Doug Robb Jr. of ABC Wealth is a SEC-registered Investment Adviser (CRD# 2384553) held to the fiduciary standard.

Question 2

What is the minimum account size to work with Doug Robb at ABC Wealth?

Accepted Answer

ABC Wealth works with clients who have a minimum of $250,000 in investable assets, or a combined household income of $200,000 or more. Clients should be actively seeking a fiduciary financial advisor.

Question 3

How does an IRA rollover from an employer plan work?

Accepted Answer

An IRA rollover from an employer plan (such as a 401k or 403b) is the process of moving your retirement savings from your employer's plan to an Individual Retirement Account (IRA). A direct rollover avoids taxes and penalties. Doug Robb guides clients through the entire process, including plan distribution, custodian selection, and investment allocation.

Question 4

When should I start Social Security?

Accepted Answer

The optimal Social Security claiming age depends on your health, other income sources, spousal benefits, and tax situation. Claiming at 62 permanently reduces your benefit by up to 30%, while delaying to age 70 increases it by 8% per year after full retirement age. Doug Robb analyzes your complete financial picture to determine the claiming strategy that maximizes your lifetime income.

Question 5

What is a ROTH conversion and should I do one?

Accepted Answer

A ROTH conversion is the process of moving money from a traditional IRA (pre-tax) to a ROTH IRA (after-tax). You pay income taxes on the converted amount now, but future growth and qualified withdrawals are tax-free. ROTH conversions are most beneficial during low-income years between retirement and age 73 (when RMDs begin). Doug Robb builds multi-year ROTH conversion strategies to minimize your lifetime tax bill.

Question 6

Is Doug Robb licensed to provide financial advice in New York State?

Accepted Answer

Yes. Doug Robb Jr. (CRD# 2384553) is a SEC-registered Investment Adviser licensed to provide investment advisory services in both New Jersey and New York State. He serves clients throughout New York City, Manhattan, the Bronx, Westchester County, and the greater NY metro area. You can verify his registration at adviserinfo.sec.gov.

Question 7

Does ABC Wealth serve clients in New York City?

Accepted Answer

Yes. ABC Wealth serves clients throughout New York City, including Manhattan, the Bronx, Brooklyn, Queens, and Staten Island, as well as Westchester County and the greater NY metro area. Doug Robb is registered in both New Jersey and New York State and regularly works with NYC public sector workers — NYPD officers, FDNY firefighters, MTA transit workers, and NYC educators — on pension coordination, IRA rollovers, and retirement income planning.

Question 8

Can a New Jersey financial advisor manage my NYC pension rollover?

Accepted Answer

Yes. Doug Robb Jr. of ABC Wealth is registered in New York State and regularly serves NYC clients. He specializes in NYC pension systems including NYCERS, NYPD Pension Fund, FDNY Pension Fund, TRS, and MTA Defined Benefit Plan. He helps NYC workers identify which assets are rollover-eligible (typically 457(b) and 403(b) supplemental plans, not the defined benefit pension itself) and executes rollovers to IRAs without taxes or penalties.

Question 9

How does New York State tax retirement income?

Accepted Answer

New York State exempts most government pension income from state income tax, including NYSLRS, NYSTRS, NYCERS, NYPD, FDNY, TRS, and MTA pensions. Social Security benefits are also fully exempt from NYS income tax. Private pensions and IRA distributions are generally taxable, but a $20,000 annual exclusion applies for taxpayers age 59½ or older. NYC residents also pay an additional city income tax of up to 3.876%.

Fiduciary Financial Planning Services in New Jersey

What Financial Planning Services Does a Fiduciary Offer in New Jersey?

IRA Rollovers

Social Security Planning

ROTH Conversions

Retirement Income

Legacy Planning

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