Fred Cook MBA, Wealth Advisor and Partner w/CAVU Financial LLC, Interviewed on the Influential Entrepreneurs Podcast Discussing 401K Strategies

Published on October 5, 2023

Fred Cook discusses the complexities of 401k strategies.

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-fred-cook-partner-wealth-advisor-with-cavu-financial-discussing-401k-strategies/

Fred Cook delves into the challenges and complexities of managing a 401k plan. He highlights the fact that 401k strategies can be messy and difficult to follow. While some individuals choose to manage their own plans, Fred Cook emphasizes that this can be overwhelming for those without investment expertise. Even for those who possess the necessary knowledge and skills, Fred points out the time constraints and the need for constant portfolio evaluation and adjustment as plans and funds change.

Furthermore, Fred Cook discusses the difficulties that arise when leaving a 401k with a previous employer. By doing so, individuals have less control over their investment choices and are limited to the options provided by that specific plan. This lack of control and flexibility can hinder effective investment management.

The episode also highlights the risks associated with neglecting and losing track of a 401k account. Many people forget about their accounts, especially if they change jobs frequently. This neglect can result in higher fees and potential instability if the company undergoes bankruptcy or significant organizational changes.

In summary, understanding the problems and complexities of 401k plans is crucial before attempting to address them. Fred discusses several concerns and issues related to 401k plans that individuals should be aware of. One of the concerns mentioned is portfolio investment risk. Fred Cook emphasizes that the risks within any investment portfolio, as discussed in a previous podcast, are equally applicable to a 401k plan. This implies that individuals need to understand and preserve their 401k investments against potential risks.

Fred explained: “I would go back to our prior podcast where we discussed calculating the risk associated with an allocation and then making sure it aligns with your capacity for risk. Additionally, diversification is crucial for managing risk. This involves spreading your investments across a wide variety of asset classes to reduce exposure to any single type of asset.”

 

About Fred Cook

In the Financial Services Business for almost 40 years, Fred has spent his career in Banking, Insurance, Investments, Financial Planning, and Wealth Management. While most institutions look at these disciplines as competing, Fred has a deep understanding they all need to work together in his client’s financial lives.

To have the independence needed, and the resources clients demand, he has aligned himself with CAVU Financial. What brought him to the team is their mission. Managing Partner, Blake Rawson, states the mission consists of “partnering with clients to create and deliver the best, objective, independent recommendations for their financial success”. This allows Fred to focus his talents and experience on providing holistic advice, within a “concierge-sized” practice.

Throughout his career, Fred has developed a style that puts the client first. He listens to their concerns, goals, and hopes, as he attempts to understand where they are today and where they want to be tomorrow. This empathetic approach has allowed him to develop deep bonds with his clients and their families. Advice is then driven by a planning and service model that identifies issues, aligns recommendations, and delivers strategies tailored to each of his clients. Fred strives to be the first person clients call when life changes happen.

In addition to his experience, Fred has a Bachelor of Science in Business Administration, Finance, and an MBA, both from the University of Akron.

Over the years, Fred has taught University level courses at the University of Akron, was a speaker at many local organizations and radio on the topics of investments, the economy, and planning, and was the featured speaker at a large financial services firm on the topic of financial planning for individuals.

Because of his loyal clients, Fred’s practice has grown over the years due to their enthusiastic introductions to friends, family, and associates.

Fred is past Chair of The University of Akron, College of Business, Department of Finance, Advisory Board. He has also been involved with several charitable organizations such as the YMCA, Boy Scouts, Rotary, Hudson High School Music Association, and others.

A lifetime resident of Summit County, Ohio, Fred and his wife, Arlene, live in Hudson, Ohio with their daughter, Allison. He enjoys his family, reading, and traveling.

Learn More:
https://www.cavufinancial.com

 
Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Stratos Wealth Partners, Ltd., a registered investment advisor. Stratos Wealth Partners, LTD and CAVU Financial LLC are separate entities from LPL Financial. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking investment advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

 

 

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