SL_RussellValante_JanneyMontgomeryScott_Profile_6_24 . qxp_Layout 1 7 / 2 / 24 9 : 40 AM Page 1 At Janney Montgomery Scott , Russ Valante helps clients prepare for the “ winter ” of life . by PHIL GIANFICARO | photography by KIM BILLINGSLEY “ It’s an eye - opening experience for of people seek professional financial help , clients to find that , based on their assets and according to Valante , who conducts retire - current spending habits , their portfolio will ment seminars in the greater Philadelphia show a shortfall when they hit 80 or 85 years area . old , ” he continues . “ Without any changes To illustrate the need for a financial plan , to their investments or lifestyle , they may Valante uses an analogy of an airplane filled have to consider reentering the work force withpassengers expecting to land in Venice , in their old age . ” Italy . “ If the pilot came on and told you he This is where Valante and Janney’s team ‘ thinks ’ Venice is east , you’d get off the air - of financial professionals do their best craft because you’d know the pilot was flying work — by developing a financial plan that without a map and without a plan , ” he says . here are those Cinderella stories in gives their clients ’ retirement goals the great - “ The same thing applies to retirement ; you which someone , through nothing more est chance for success . The team provides a need a flight plan . If you’re navigating Tthan blind luck , hits the jackpot : the man broad range of financial planning services through retirement without a flight plan , who loaded his portfolio with Google stock and develops customized strategies for each you’re going to end up in the wrong place . ” he purchased at the initial offering price of individual client’s situation . While the steps Valante delivers such a retirement plan . He $ 85 a share ; or the woman who bought an to get there vary , Valante’s goals of generating leadsa sophisticated practice , working primarily orchard full of cheap Apple stock the day it sufficient retirement income and putting his withsuccessful individuals and families includ - hit the market . But as Russell R . Valante clients on a path to financial freedom remain ing many professional service providers such points out , Cinderella stories are a rare oasis the same . as certified public accountants and attorneys . in the Sahara . For most people , the only place During a client’s initial visit , Valante as - With a focus on consultation , education and a they’ll find a Cinderella story is on a child’s sesses their goals and objectives , a strategy commitment to offering the highest quality of bookshelf . he identifies as effective profiling . The client serviceand advice based on trust , respect and , “ The more realistic scenario is that peo - is questioned about how they foresee their mostimportantly , integrity , he has helped many ple work hard for their money for 30 years or life in retirement , and what steps they have clients accumulate , preserve , grow and enjoy more , ” says Valante , executive vice president taken thus far to make sure their goals are their wealth . and registered financial advisor in the Blue feasible . During the second meeting a few Valante believes four things shape a per - Bell office of Janney Montgomery Scott LLC . weeks later , after Valante and his team have son’s life : family , health , faith and financial “ I work with these individuals every day . examined the provided documentation , the wherewithal . “ An individual’s financial where - They’ve endured the expenses of raising chil - client is presented with a personalized fi - withaldetermines to what extent you are able dren and paying for their education . Some - nancial plan based on their specific retire - to enjoy the years you worked all your life to how they have even managed to put aside ment goals . get to , ” he says . “ This is the time you worked some money for retirement along the way . “ What I find is most individuals have no and sacrificed for — the time to enjoy the won - But as they approach retirement , they be - physical financial plan , ” Valante says . “ What derful things available to retirees . ” Valante come concerned about whether they’re go - wedo at Janney , with the cooperation of the suggests clients in need of financial direction ing to have enough money to live on for the client , is complete a questionnaire about as it pertains to retirement come to him in next 30 years . ” their assets , liabilities , expenses and their re - search of the truth . “ I tell it like it is , ” he says . Valante , who has 20 years of experience quired financial needs during retirement . We “ I think when an individual is confused about serving clients in the financial services indus - try to understand their fears and challenges . what to do , they need to seek out a profes - try , says his typical client is 60 years or older . And while some financial companies charge sional who understands their situation . At “ Couples don’t come to me with a plan but clients $ 2,500 to $ 4,000 for a plan like this , Janney , that’s what we do . ” n with a hope , ” he says . “ They hope when they it’s a free service at Janney . You need not be retire , or now that they’re retired , their financial a client . ” Russell R . Valante portfolio will be able to sustain them and their According to the 2011 Consumer Finan - Janney Montgomery family for the rest of their lives . They tell me cial Literacy Survey by the National Founda - their greatest fear is outliving their income . They tion for Credit Counseling , 76 percent of Scott LLC fearrunning into another decade like the 2000s , Americans agree that they would benefit 1767 Sentry Parkway W . Suite 110 when there was volatility in the market , with from having basic financial education and Blue Bell , PA 19422 - 2217 major swings from day to day . They’re looking information . Yet most people try to navigate Phone : 215 - 619 - 3920 for someone who knows how to put them on themurky waters between employment and Member FINRA , NYSE , SIPC the right track to financial security . retirement alone . In fact , less than 20 percent SUBURBANLIFEMAGAZINE.COM VOLUME 15 ISSUE 10 62 |