How to Work with Anew Advisors

First responders across the country have been greatly underserved when it comes to investment management and advice. As a result, it has been the job of leadership to provide the education and services that members need. Anew Advisors looks to partner with first responder leadership to provide new or improved benefits to their members.

But where do you start? The financial world is vast and navigating it can be difficult. We aim to turn that uncertainty into confidence and that starts with knowing what you’re up against. That’s why at Anew Advisors we hire retired first responders to guide you through the process.

Step 1: Leadership and their general fund – We believe that working with first responders needs to be a top-down process. As a leader, you need to make sure you thoroughly vet every partner you bring to your members. The best way to start is working with your executive leadership to set goals for your investments (typically excess member dues) and turn your union into a financial powerhouse.

Step 2: Individual 1 on 1 Meetings – Once vetted, member education is at the forefront for most leadership. Most members receive their financial education from their team around the lunch and dinner table. And while some of that advice may be good, it might not be the best way for members to receive their financial education. We create an individualized roadmap for each member’s investments, including strategic retirement income planning and budgeting. Often it is the first time that members see how their 457 works with their pension and how valuable their benefits really are.

Step 3: VEBA – One of the largest challenges faced by first responders is prefunding retiree healthcare to get from retirement to Medicare. It keeps members working longer, putting their financial and physical health at risk. A VEBA is employer-deposited funds into a tax-exempt account for current or future out-of-pocket health related expenses. The VEBA doesn’t replace your current group health insurance plan, it works with your plan to provide funding. We work with leadership to create VEBAs that best fit their members’ and their municipality’s goals and create win-win scenarios.

457 – As a key piece in retirement, it’s important that members understand their 457 options. Unfortunately, municipalities have been understaffed and unable to appropriately benchmark and educate members on current options. We work with leadership to provide an alternative to current high-cost, poor-performing, and confusing options to reduce stress and add clarity to investing. Similar to the goals of a VEBA, we want members to be able to retire happy, healthy, wealthy, and on their terms.

We know that every union has unique needs. The above steps are merely a guide on how MOST leadership and membership partner with Anew Advisors. Ultimately, we are here to help your union solve problems. If there is a way your leadership believes partnering with Anew will be beneficial for the union and its members, don’t hesitate to reach out.

Shawn C. Lauda, Director of Business Development – Law Enforcement

Michael Bongiorno, Director of Business Development – Fire Services