Life in the Fast Lane
Whether he’s helping clients plan for retirement or feeding his appetite for auto racing, financial advisor Andrew S. Vitek keeps the pedal to the floor.
In addition to his work as a financial advisor with Janney Montgomery Scott, Andy Vitek has a soft spot for fast cars and his career has been built around that passion.
Just like safely navigating the roadways or racetrack, getting to a stress-free retirement requires an individual to pay attention to signs and anticipate issues that could divert someone from a chosen destination. Likewise, avoiding risks and distractions could prevent a smooth ride on an open highway from turning into an unwanted detour down a road riddled with potholes.
“The people who come to see me tend to be educated, motivated, successful people,” says Andy, First Vice President/Investments with Janney who has nearly 30 years of industry experience. “But they are often so focused on their careers that financial planning to them can seem daunting. Also, due to the amount of information available online, some investors have only a surface knowledge of how to plan for retirement, which can be dangerous. An in-depth knowledge of financial planning is required to navigate those open roads. That’s why it is so important to have a financial advisor that has the knowledge and experience required to develop an individualized plan that can optimize opportunity and mitigate risk.”
For many Americans, planning for retirement can become a mind-numbing exercise that can stoke anxiety and cause plenty of sleepless nights: How much money will I need to retire? What can I do now to ensure that I have enough money not only to live day to day through retirement but also have enough to take vacations, golf, or go on a cruise? Do I have the means today to save enough for retirement without it negatively impacting my life before retirement?
With the experience and impeccable reputation of Janney behind him, Andy strives to help clients answer those questions and address their concerns with clear explanations so clients can move forward with confidence. He does this in part by creating an in-depth profile for each client that outlines their current financial situation and their goals as they approach retirement.
“It’s important for clients to understand that this is a fluid process; it’s a continuous commitment to each client, he adds. “The plan is adjusted to align with the investor’s stage of life and situation. I have continuous conversations with clients about which options are most comfortable for them and associated with the least amount of risk to reach their goals. That could be for financial planning, estate planning, or insurance planning. I am committed to doing what’s best for every client.”
Beyond Investments
Doing “what’s best” for each client has served as the foundation of Janney Montgomery Scott, which has roots dating back to 1832. Janney has since grown to advise clients on over $100 billion, catering to 350,000 clients of varying types. As a full-service wealth management, financial services, and investment advisory firm headquartered in Philadelphia, Janney provides individuals, families, businesses, and institutions with tailored financial advice. Whether a client has questions about an investment strategy, comprehensive financial planning, or raising capital, the expert, caring professionals at Janney are committed to understanding and responding to their needs.
Andy, who has a Bachelor’s of Science in economics and a portfolio management certificate from Wharton School of Business, brings 28 years of financial planning experience and success to his clients. His experience benefits clients, who may not have saved enough for retirement and may feel terrified by the ticking clock. He shares Janney’s client-first focus, as evidenced by his personal philosophy: “Treat all clients with dignity and respect; invest their money to match their investment style; and help them reach their goals.”
Also, much like Janney, the majority of his clientele consists of individuals and families.
“It is important to me that my clients are supported in making informed decisions at every juncture,” he says. “I have cultivated such strong relationships with my clients that many of them seek my advice on decisions that are only loosely related to their financial circumstances. This speaks to the level of trust between us.”
The past year has brought a host of challenges. Even with social-distancing guidelines, Andy has maintained a close connection with clients through technology.
“While we used to meet clients face to face, we now do video chatting,” he says. “We’ve even made it fun. We’ve had a pizza-making webinar with one of the top chefs in Philadelphia as well as numerous educational webinars. It’s a way to pull people together, going beyond the investments to keep the relationships going.”
Both Hands on the Wheel
Andy’s fascination with cars and other vehicles began at an early age; in fact, he started driving long before his 16th birthday. Andy started racing motorcycles at age five, drag raced in high school, and began his road-racing career in the 1990s. He became licensed as a semi-professional in the early 2000s. Naturally, his two sons felt drawn to their father’s fast-paced hobby. Together, they created a popular YouTube channel that has featured rare and iconic automobiles such as an Aston Martin DB9, an Audi R8, a Corvette Stingray, and a Ferrari Testarossa.
Andy has found that many of his clients share his love of cars. In September, he hosted a car show at his Montgomery County home, an event he describes as “just another way to stay connected to the clients.” Approximately 30 people enjoyed an afternoon of food, camaraderie, and some truly elegant automobiles.
Of course, as much as attendees appreciated the opportunity to talk about their shared enthusiasm for motor vehicles, he realizes his clients are more interested in his ability to help them work toward their retirement goals with the least amount of risk.
“People need the best advice on how to prepare for retirement,” Vitek says. “They need to take advantage of knowledgeable professionals instead of doing it alone and being scared.”
In other words, he leads clients toward their destination by relying on his wealth of financial planning experience and—to borrow the vernacular of his other personal passion—by keeping both hands firmly on the wheel.
For more information about Andrew S. Vitek, call (215) 572-4123, email avitek@janney.com, or visit https://advisor.janney.com/andrewvitek.
Janney Montgomery Scott LLC | Member: FINRA, NYSE, SIPC
For more information about Janney, please see Janney’s Relationship Summary (Form CRS) on www.janney.com/crs, which details all material facts about the scope and terms of our relationship with you and any potential conflicts of interest.
Photograph by Drew Vitek
Published (and copyrighted) in Suburban Life magazine, March 2021.
