In the News
Joe Franklin Ranked as One of Tennessee’s top Wealth Advisors
Chattanooga, TN - February 25th, 2019 - Joe D. Franklin, President of Franklin Wealth Management and CEO of Innovative Advisory Partners ranked as one of Tennessee's top Wealth Advisors in the Forbes annual Best-In-State Wealth Advisors list...
Bylines Authored by Joe Franklin:
Simple Steps to Prevent Future Family Inheritance Rifts
Forbes.com, July 17, 2015
Joe Franklin, president at Franklin Wealth Management, contributes a byline to Forbes and NextAvenue.org detailing how to sort out inheritance issues. “Unresolved inheritance issues can cause serious rifts between family members even with relatively simple estates,” he says.
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NextAvenue.org, July 17, 2015
Handling Family Finances When Dad is Losing His Grip
Money Magazine, March 3, 2015
Joe Franklin, president at Franklin Wealth Management, contributes a byline to Money Magazine about the steps to take when a person in charge of family finances has dementia or Alzheimer’s disease. Franklin suggests that the key to handling this situation is having a ready stable of professionals and getting the family involved.
Raising Financially Independent Kids in the Age of Entitlement
Money Magazine, December 31, 2014
Joe Franklin, president at Franklin Wealth Management, contributes a byline to Money Magazine about ensuring that adult children become financially independent. He outlines steps to take to make sure that loved ones are taken care of, protected adequately and become good stewards of what is left to them.
Avoid Pitfalls of a Retirement Paradise
Financial Planning Magazine, October 1, 2015
Donald Korn of Financial Planning includes Nick Hughes, wealth advisor at Franklin Wealth Management, in an article about helping clients avoid pitfalls of retirement relocation. “Housing affordability in the desired destination often can be the make-or-break factor for relocation. Will clients need to sell their current residence before moving or liquidate investments in order to purchase the new home? What will be the tax implications of both scenarios? These things should be discussed with a qualified tax or financial professional,” he says.
Opportunity during Mr. Market's Tantrums
ABC Chattanooga WTVC, August 24, 2015
Joe Franklin, president at Franklin Wealth Management, appears on WTVC-TV to speak on the market downturn’s impact on retirement accounts. “The steep drop is a boom to people on the sideline waiting for a chance to invest in the market. It's the smart investors who take advantage of Mr. Market's depressing moods and buy when he's selling at a really low price,” he says.
Finding Peace in a Turbulent Market
CBS Chattanooga WDEF, August 24, 2015
Joe Franklin, president at Franklin Wealth Management, appears on WDEF-TV to weigh in on what investors should do in light of the recent market downturn. "We want to take advantage of those times when Mr. Market is panicking ...and keep a level head. And for most people that's just sitting tight. If you've got a good diversified portfolio, sit tight and things will come back,” he says.
Beyond the Savings Bond: Better Ways to Gift Money to Children
Forbes.com, August 2, 2015
Vanessa McGrady of Forbes.com includes Joe Franklin, president at Franklin Wealth Management, in an article about alternative ways to gift money to children apart from the traditional savings bond. “If held for 19 years and 11 months, the $1,000 invested in these bonds will earn $61.50. But if held for over 20 years, they will earn an extra $1,000. The only time frame worth looking at is 20 years and not holding any longer," he says.
What Rising Rates Means for You
Forbes.com, July 16, 2015
Beth Braverman of Forbes.com includes Joe Franklin, president at Franklin Wealth Management, in an article about potential interest rate increases from the Fed. “If you’re an investor, longer term bonds are the ones that will be affected the most,” he says.
New Ways to Pay for Long Term Healthcare
MarketWatch.com, July 9, 2015
Elizabeth O’Brien of MarketWatch.com includes Nick Hughes, wealth advisor at Franklin Wealth Management, in an article highlighting new ways to pay for long-term insurance coverage. “On top of the “sticker shock” that clients face pricing traditional long-term care policies, they face the worry that those premiums could be raised,” Hughes says.
5 Reasons Small Businesses Fail in Their First Year
Chicago Tribune, June 4, 2015
Benjamin Pimentel includes Joe Franklin, president at Franklin Wealth Management, in an article highlighting top reasons why small businesses fail in their first year. “Business owners should learn to be frugal, working on a lean budget and continually watching costs, especially in the early going,” he says.
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Nerdwallet.com, June 4, 2015
How to Make the 4 Percent Withdrawal Rule Work for You
US News & World Report, May 5, 2015
Kira Brecht of US News & World Report includes Joe Franklin, president at Franklin Wealth Management, in an article about the four percent withdrawal strategy. “Just like an airplane pilot has a flight plan that he or she is to follow when starting out, retirees need a retirement cash-flow plan for their future when embarking on the next phase of their lives,” he offers.
Aging in Place: Are Home Renovations Worth the Costs?
ThinkAdvisor.com, May 4, 2015
David LaMartina of ThinkAdvisor.com quotes Joe Franklin, president at Franklin Wealth Management, in an article highlighting different strategies that retirees can consider when renovating or downsizing in retirement. “In our experience, it’s been a lot easier to downsize to a more elder-friendly home than to renovate an existing house,” he says.
When to Cut Off Adult Children who Aren't Financial Grown-Ups
CNBC.com, May 1, 2015
Ilana Polyak of CNBC.com quotes Joe Franklin, president at Franklin Wealth Management, in an article about how parents should avoid risking their own financial future when supporting dependent adult children. “If they’re typically financially responsible but have fallen on hard times, you are going to want to be there to help them, and that’s fine,” he says.
Are Longevity Annuities Ready for Prime Time?
Financial Planning Magazine, April 27, 2015
Donald Korn of Financial Planning Magazine quotes Joe Franklin, president at Franklin Wealth Management, in an article about what deferred income annuities can do for clients, and the challenges they carry. “Clients tend to be very conservative, and they like the idea of a guaranteed increase in the payout by waiting a certain number of years. We’ve had conversations with some of those clients about getting higher income later, if they wait longer,” he says.
The Best Way to Own Gold and Silver
Money Magazine, April 27, 2015
Sarah Max of Money Magazine includes Joe Franklin, president at Franklin Wealth Management, in an article highlighting the advantages and disadvantages of adding gold and silver to one’s investments. “We think gold and other precious metals can play a part in a well-diversified portfolio, but our preference is to own the stocks or the mutual funds that would give you that exposure,” he says.
The Costly Danger of Putting Extra Money in an IRA
Kiplinger.com, April 16, 2015
Rachel Sheedy of Kiplinger.com includes Joe Franklin, president at Franklin Wealth Management, in an article highlighting the dangers of putting extra money in your IRA. In regard to the six percent penalty rule, Franklin offers that if the investment declined, there’s a silver lining. “If the value goes down, there no tax penalty,” he says.
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Nasdaq.com, April 16, 2015
3 Signs it's Time to Fire Your Financial Advisor
FoxBusiness.com, March 17, 2015
Doug Salvemini of FoxBusiness.com includes Joe Franklin, president at Franklin Wealth Management, in an article highlighting three signs that it might be time to fire your financial advisor. “The number one reason that clients leave their financial advisors is because of lack of communication. There are some things we can control as financial advisors… we can definitely control how much we talk to our clients,” he says.
The Road to a Tax Free Retirement
Forbes.com, March 12, 2015
Ashlea Ebeling of Forbes.com features Joe Franklin, president at Franklin Wealth Management, in an article about the steps individuals can take to establish a nearly tax-free retirement. Joe offers SIMPLE IRAs and Roth IRAs as an option for people who would like to cut down tax costs.
5 Ways to Make Your Kids Grow Up
Bankrate.com, February 5, 2015
Jennie Phipps of Bankrate.com features Joe Franklin, president at Franklin Wealth Management, in a piece that offers tips for teaching children how to acquire financial knowledge and discipline. “The biggest thing that holds many people back from retirement is their children asking for money. We tell parents they have to learn to say ‘no’ and then cut their kids off,” he says.
10 Financial Steps That Will Set You Up for 2015
CNBC.com, January 9, 2015
Nancy Jackson of CNBC.com quotes Joe Franklin, president at Franklin Wealth Management, in an article that outlines 10 steps that will help individuals to better manage their finances in the New Year. Franklin discusses reviewing your current household budget, insurance policies, mortgage payments and important documents.
Early Detection of Alzheimers Would Allow for Better Financial Planning
InvestmentNews, November 18, 2014
Liz Skinner of InvesmentNews quotes Joe Franklin, president at Franklin Wealth Management, in an article about how the newly developed test to detect Alzheimer’s leads to benefits for financial planning. Franklin offers his insight on believing the test will help people become more prepared. “The main thing is what steps you put in place to turn decision-making over to someone else in the family when the person starts to show signs,” he says.
Financial Advisor Fixes a Botched IRA Conversion
The Wall Street Journal, November 12, 2014
Kelly Kearsley of The Wall Street Journal writes an article sharing Joe Franklin's experience fixing the damage of a client’s IRA conversion. Franklin highlights the importance for advisors to know their client’s complete financial picture before making recommendations. “If you’re a doctor and someone doesn’t want to share their entire medical history, then you shouldn’t prescribe anything. You can’t be giving advice to clients based on inadequate information,” he says.
S&P 500, Dow Halt Winning Streaks, Small Caps Advance
Bloomberg News, November 12, 2014
Oliver Renick of Bloomberg News quotes Joe Franklin, president of Franklin Wealth Management, in an article about the current actions of the market. While the S&P 500 Index halted a five-day rally, small-cap shares rose to the highest level since July, as gains among phone and consumer stocks offset losses in utilities and concern rises over growth slowing in Europe. “Europe is doing everything it can to rev up their economies but the problem with Europe is it’s so fractured that you can’t get them to work together,” he says.
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MSN Money, November 12, 2014
Helping a Client with Mental Illness
Wall Street Journal Video Network, November 11, 2014
Veronica Dagher of The Wall Street Journal sits down with Joe Franklin, president of Franklin Wealth Management, to discuss ways advisors can help a client with a mental illness. “The first step is to get the family and spouse involved if they are not already. However, for clients that are too difficult, it may be best to cut ties,” he explains.
As Pimco Outflows Soar, Advisors Ask: Should We Stay?
Financial Planning Magazine, November 6, 2014
Suleman Din of Financial Planning quotes Joe Franklin, president of Franklin Wealth Management, in an article about financial advisor’s actions following Bill Gross's departure from Pimco. Franklin weighs in explaining that his firm still has a few investments left in Pimco bond funds, but moved primarily all fixed-income investments to other fund families. "We immediately got out of the Pimco Total Return fund being run by Gross," he says.
6 Savvy Moves to Stretch Your Retirement
Kiplinger.com, October 30, 2014
Rachel Sheedy of Kiplinger.com quotes Joe Franklin, president of Franklin Wealth Management, in an article that highlights how to stretch your retirement savings. Franklin suggests to those who expect their tax rate to jump in future years to consider moving after-tax money into a Roth IRA or Roth 401(k). “Paying taxes now and letting the money grow tax-free tends to be more beneficial than the tax deduction of contributing pre-tax money,” he says.
Stocks Rise as Investors Focus on Fed
MarketWatch Radio, October 28, 2014
Joe Franklin, president of Franklin Wealth Management, appears on MarketWatch Radio to discuss the current direction of stocks with host Larry Kofsky. Franklin weighs in on expectations that could come out of the next Fed meeting. “We’ve been getting drunk on easy money from the Fed for several years now. With the easy money going away, we may suffer from a market hangover,” he offers.
Industry Insights with Franklin Wealth Management's Joe Franklin
WealthManagement.com, October 28, 2014
David Lenok of WealthManagement.com sits down with Joe Franklin, president of Franklin Wealth Management, in a video segment to discuss HNW investor personalities. Franklin explains different character traits – including the family steward, the mogul and the accumulator -- and how advisors can implement proper financial and estate plans for each group.
6 Ways to Flub a Small Business Plan
BankRate.com, October 27, 2014
Jennie Phipps quotes Joe Franklin regarding how owners of small businesses face some of the biggest retirement planning challenges. "You have to spell it all out ahead of time and make sure you're fair," he says.
A Realist's Guide to Downsizing Retirement Plans
MoneyRates.com, October 27, 2014
Dan Rafter of MoneyRates.com quotes Joe Franklin, president of Franklin Wealth Management, in an article about how to realistically save for retirement. Franklin explains that many do not think about increasing their savings until they are two or three years away from retiring, which makes many of their plans after retirement unreachable. "You either have to change what you want to do in retirement, work longer or be more aggressive with your investments going forward,” he says.
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TheStreet.com, October 27, 2014
Get the Most Out of Your Charitable Giving
FoxBusiness.com, October 24, 2014
Donna Fuscaldo of FoxBusiness.com includes Joe Franklin, president of Franklin Wealth Management, in an article about tax rules surrounding charitable donations. Franklin weighs in on the strategy of setting up a charitable trust to save on taxes. “Affluent investors who use this strategy can get a current income, gift, or estate tax deduction on the assets donated to the trust,” he says.
Be Ready for that Unexpected Early Retirement
USA Today, September 24, 2014
Rodney Brooks of USA Today includes Joe Franklin, president of Franklin Wealth Management, in an article about how to prepare for an unexpected early retirement. "Determine what age you are independent enough to say, 'I can keep working if I enjoy it or leave if I don't like it,’” he says.
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CNBC.com, September 24, 2014
How to Add Tax Diversifications to Your Retirement Investments
US News & World Report, September 15, 2014
Emily Brandon of US News & World Report quotes Joe Franklin, president of Franklin Wealth Management, in an article that explains how to control tax bills in retirement. Franklin weighs in on the order in which to prioritize retirement saving accounts, explaining that a company 401(k), Roth account, and tax deduction type accounts usually generate the highest returns.
Low Interest Yields Pinch Savers
Chattanooga Times Free Press, September 13, 2010
Dave Flessner quotes Joe Franklin regarding what savers and investors should do about low interest rates.