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Mark PorterCFA, CFP®

A CERTIFIED FINANCIAL PLANNER™ Professional with a focus on Financial Education

Canton, MA
Principal, Northeast Planning Associates
Fee Structure: Asset-based
Typical minimum client assets: $100,000

This describes how advisors are compensated for their work. Learn more in our Guide to Advisor Compensation
Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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7 out of 11 people Mark's answers helpful

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  • 3 out of 3 people found this answer helpful

    My husband and I have a brokerage account with Wells Fargo investing. We just get a dividend a year of almost 18,000 from a 620,000 investment acct. We have been withdrawing $2000 /month. Advisory fee is close to 3000 for 6 mos. Can we do better with this portfolio, is the fee ok or too high? Thank you

    Retirement Savings, Investing, Retirement

    Its tough to say in a vacuum whether $18k in dividends from $620k is good or bad.  Its important to

    more »

    Its tough to say in a vacuum whether $18k in dividends from $620k is good or bad.  Its important to understand your investment objective and Total Return (which includes capital appreciation).

    A $2,000 per month withdrawal represents about a 3.9% annual withdrawal rate.  Advisors often target keeping the rate of withdrawal no higher than 4% to 5%.

    Finally, the advisory fee appears to be about 1%, which in my opinion is average for standard advisory services. 


    Was this a helpful answer?

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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    • 512 views
  • 3 out of 5 people found this answer helpful

    What does it mean to have 1,000 dollars in basic life insurance?

    Insurance, Life Insurance

    It is a term policy, generally paid for on your behalf by your employer.  You can name a beneficiary

    more »

    It is a term policy, generally paid for on your behalf by your employer.  You can name a beneficiary for the policy, but more than likely, when you leave employement with the company, you will lose it.

    Was this a helpful answer?

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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    • 100 views
  • 1 out of 2 person found this answer helpful

    I have 401k plan. My employer contributes .25%up to 6% of contribution. Can I take this 401 K money to a bank IRA account?

    Investing, 401(k), Traditional IRA, Roth IRA

    You can request your 401(k)'s Summary Plan Description (SPD) for more information regarding the rules

    more »

    You can request your 401(k)'s Summary Plan Description (SPD) for more information regarding the rules of your plan.

    If your plan is small enough, or you know the decision makers, you may even consider asking them to add the 'inservice withdrawal' option if it is not currently available and you have determined taking a rollover is in your best interest

    Was this a helpful answer?

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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    • 90 views
  • 0 out of 0 people found this answer helpful

    i am planning to retire in 1-2 years. should i move my IRA from a place that charges 2.5% fee?

    Retirement Savings, Retirement

    While 2.5% sounds high to me (that is actually the max my broker dealer allows us to charge), you have

    more »

    While 2.5% sounds high to me (that is actually the max my broker dealer allows us to charge), you have to ask what you are getting for that 2.5%.  I would ask your advisor what you are getting for that fee and perhaps seek out a referral from a friend to speak with another advisor to find out what they would charge for a comparable service.

    Fees are not necessarily a bad thing, its important to focus on what you get as much as on what you pay.

    Was this a helpful answer?

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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    • 66 views
  • 0 out of 0 people found this answer helpful

    I am 39 years old with a substantial amount in cash savings (around ~$115K), about $65K invested in retirement (401K, 403b, Roth IRA), and I just bought a home. I also have student loans of ~$150k. My salary is about $130K. I am unsure where to place my cash - investments, pay student loans or contribute more to retirement?

    Paying for college, Retirement Savings, Personal Finance, Investing, Retirement

    While there are no hard and fast answers, you should start with some questions: 1) What is your ideal

    more »

    While there are no hard and fast answers, you should start with some questions:


    1) What is your ideal cash reserve?

    2) What rate are your student loans and are they fixed rate or variable?

    3) With the home purchased, do you have any other goals other than retirement?

    4) Are you already maxing your retirement plans?

    5) How is your employer match structured?

    Depending on your expenses, $65k may not be enough saved at 39 years old for retirement at this point, but you shouldn't just blindly save for retirement without considering the factors listed above (and probably more).


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    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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    • 219 views
  • 0 out of 0 people found this answer helpful

    I have a 401k plan with Wells Fargo that I thought will allow me to contribute 17500 with employer matching. So 17500 total. I have received a check every year for over contributions. Is this right? I thought you could contribute 17500 plus company matching.

    Investing, 401(k)

    While the Federal Limit for YOUR contributions is $17,500 (not including employer contributions), there

    more »

    While the Federal Limit for YOUR contributions is $17,500 (not including employer contributions), there are various IRS mandated requirements for 'Testing' 401(k)s.  Some of this has to do with the amount that 'highly compensated' employees contribute versus everyone else.

    If your 401(k) plan failed the test, that may explain why it was determined that you overcontributed.

    Was this a helpful answer?

    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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    • 355 views
  • 0 out of 1 people found this answer helpful

    I'm a recent college grad looking to put some money away. What are my best options? An online savings account will lose me money with inflation rates correct? Is a Money Market account the way to go? Not looking to fully "invest" yet.

    Investing

    I'd recommend that you don't over think it.  Cash reserves, whether they are checking, (online)

    more »

    I'd recommend that you don't over think it.  Cash reserves, whether they are checking, (online) savings, money market, are likely going to always lose money versus inflation but save you in the event they prevent you from putting something on a credit card.  

    While it's easy to say you could make some money shopping for the best money market account or laddering CDs but its a waste of your time.  Due to the shape of the yield curve, most banks (including prominent online banks) are actually paying more on their money market accounts than they currently do on their CDs.

    Further, if you make an extra 0.25% on $5,000 of savings, you're making an extra $12.50 per year.  If it took you much more than an hour to do the research, open the account and add it to your taxes, you made less than minimum wage.  

    I wish I could give you more constructive advice, but in my opinion a money market or savings account is the best place to start right now until you are ready to start investing for long term goals.  Other options might sound sexy but don't hold up.


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    Advisors offer free consultations to determine if you're a good fit for one another. Providing more information in the consultation request will help advisors have a better sense of what you're looking for. The advisor will contact you via email and set up a time to meet. Depending on the advisor, and your preferences, this could be an in-person or online meeting. You are under no obligation to engage them after meeting with them.
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    • 133 views

About

As a financial planner, Mark is dedicated to serving the investment and financial needs of his clients by offering an unbiased financial planning approach using a wide variety of products and services. His goal is to build long-lasting relationships formed around trust and honest communication.

Mark helps clients work toward their financial objectives by becoming their personal Chief Financial Officer and presenting clients with options and strategies toward helping accomplish what is important to them.

As an associate of Northeast Planning Associates, Inc. (NPA), Mark has experience in Retirement Planning, Wealth Management, Advanced Estate Planning, Tax Management, Education Planning, and Qualified Plans. Mark holds the Financial Industry Regulatory Authority (FINRA) Series 7 and 66 registrations through LPL Financial.

As a CFP® and CFA®, Mark holds two of the most prestigious designations in the world of financial planning and asset management, and is dedicated to being an ongoing student of the Financial Planning industry. He received a BA from the Massachusetts Institute of Technology - Sloan School of Management.

Mark serves as the Chairman of the Finance Committee in the town of Canton. He is also an Eagle Scout and Scoutmaster in his Boy Scout Troop.

Mark and his wife Anna live in Canton, Massachusetts. Mark enjoys hiking and is in pursuit of climbing New Hampshire’s forty-eight, 4,000 foot peaks.


Details

Contact Info
View contact info »
Email
mark.porter@lpl.com
Phone
781-562-1800
Web
I am available for web conferencing
Address
633 Chapman St
CantonMA 02021
Address
144 South Main St
CadizOH 43907
Firm Website
Focus Areas
Personal Finance, Retirement, Investing
Client Specializations
Engineers/scientists, Young couples, Young professionals
Education
BS, Finance, Massachusetts Institute of Technology
Registrations
Individual CRD #4943237
Regulatory Records
Please visit FINRA's website to review Mark's records
While designations are not everything when selecting a financial advisor, they often indicate a certain level of knowledge related to a specific field and/or commitment to certain ethical and professional standards. Please see our detailed Guide to Financial Advisor Designations for more information.
Designations
CFA, CFP®

*Financial Advisor Disclaimer:

Financial planning offered through Northeast Planning Associates, Inc. (NPA), a Registered Investment Adviser.  Securities and advisory services offered through LPL Financial, a Registered Investment Adviser and member FINRA/SIPC.  NPA and LPL Financial are not affiliated. www.finra.org www.spic.org

Mark Porter may only discuss and/or transaction business with residents of the following states: MA, NH, RI, OH, CA, IL, PA, GA

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