Financial Matters with Richard Oring Trailer

Jag:

Welcome to the Financial Matters Podcast with Richard Oring. I am John Jag. Richard, I'm excited to start this show with you.

Richard:

Hey John, it's great to be here. Thank you.

Jag:

So tell me a little bit about your background, Richard, and what makes you and your practice unique?

Richard:

Well, I started in the investment business about 18 years ago, and I started working for an accounting firm. What that taught me was that investments and taxes go hand in hand. So when I manage clients' money and build portfolios for them, I'm always looking to reduce the tax liability caused by the investments. I like to utilize individual equities by utilizing separately managed accounts. Sometimes they're called SMAs. I also like to reduce the costs. So where I can't use an SMA, I like to use an exchange traded fund or a mutual fund.

Richard:

The second thing I like to do is reduce the risk in the portfolio. I try to reduce each asset class by what we call maximum drawdown. That's the most an investment has ever lost. So my goal is to reduce the downside so when the market drops, and let's say on that asset class loses 30%, I don't want to lose 30% because when the market comes back, I don't need to make up as much.

Richard:

I also want to do that while also taking consideration of the taxes in the portfolio. I also look at which accounts to take distributions from, from IRAs or non-qualified assets to see what makes sense the most for the client.

Jag:

Richard, what are some of the topics we're going to cover in this podcast?

Richard:

Want to be a little bit different than the most financial podcasts you see out there. I want to share different client experiences, of course not using their name. But different things come to my desk every day about client situations, their children, their families, loved ones. Doesn't matter if it's about investments. It could be about retirement planning, elder care planning. When something's unique, I want to share it on this podcast because if it's affecting my clients, it could be affecting others, too.

Jag:

You can follow along with the Financial Matters Podcast by subscribing for free in your favorite podcast app, including Apple Podcasts, Spotify, Google Podcasts, TuneIn, and Stitcher.

Jag:

Richard, if someone wants to get a hold of you and your firm, what are the best ways to reach you?

Richard:

My phone number is (609) 924-2049, and my direct extension is 126. You can always check us out at www.ncfg.com.

Jag:

Richard Oring's branch office is One Airport Place, Princeton, New Jersey 08540. The branch phone number is (609) 924-2049. Securities offered through Royal Alliance Associates, Inc., member FINRA, SIPC. Advisory services offered through New Century Financial Group, LLC, a registered investment advisor not affiliated with Royal Alliance Associates, Inc. New Century Financial Group, LLC and Royal Alliance Associates, Inc. does not offer tax advice or tax services. Please consult your tax specialist for individual advice. We make no specific comments or recommendations on any tax-related details.