Pilot-Focused Advisor RAA to Give Free 401(k) Management Advice to Furloughed Pilots

Published: 07-16-2020
Read about RAA's plan to give free 401(k) management services to pilots.

Press Release

RAA, one of the largest pilot-focused advisory firms in the country, has announced that it will begin offering free 401(k) management advice to involuntarily furloughed pilots. The Dallas-based firm, which is comprised of both active and former pilots, and which currently serves over 3,200 families, has been helping pilots and their loved ones manage their investments and financial planning needs for more than 30 years.

“Many of us here at RAA are pilots or retired pilots, so I’d say we are exceptionally knowledgeable and well positioned to guide members of our community through this challenging time,” said RAA’s President, Jeffrey Baumert. We’ve been here during previous financial crises and some of us have even been furloughed ourselves, so we know exactly how scary it can be to manage through this process alone. Our team felt it was important that RAA step in and help our sisters and brothers who have been affected.”

The free 401(k) management offer includes such things as building a custom financial plan to prepare for our new reality, evaluating potential insurance needs as company benefits may no longer be available, developing an investor risk profile, analyzing current investment allocations and, when appropriate, guidance on rebalancing assets to align 401(k) allocations with personal investment preferences, retirement goals, and time horizons.

“Due to the recent erratic market, many pilots have portfolios that are no longer aligned with their intended retirement goals and risk tolerances,” said Baumert. “When market volatility like we’ve seen occurs, it’s not uncommon for an investment allocation within a portfolio to become over-weighted in one area, placing the pilot’s future unintentionally at risk for larger-than-necessary losses from a correction.”

RAA has seen requests for guidance from pilots dramatically spike over the last 90 days. “For everyone, but especially for pilots,” said Baumert. “This crisis is far worse than 2001 and 2008 because our industry has been as affected, more so, than any other in the country. Pilots are anxious and our team has been working hard to ensure that each pilot gets their questions addressed and that they feel confident in their plans, especially with the uncertainty of the next few years.”

More details about the complimentary 401(k) management program can be found at raa.com/free401k.

About RAA

RAA is one of the nation’s largest independent registered investment advisors, specializing in unique needs and goals of the airline community. With approximately $2.8 billion in assets under management for over 3,200 families, RAA provides personal solutions for 401(k) professional investment management, retirement and income planning, investment management, estate planning, survivor assistance, and tax consulting and return preparation. The firm’s extensive experience with pilots and their families allows RAA to provide guidance for clients’ evolving needs throughout their careers and in retirement. Learn more about RAA at www.raa.com.

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