Wealth Protection

Getting Out in Front of Change

A one-stop, proactive mission

Small businesses are the lifeblood of the United States economy, according to the U.S. Small Business Administration. An SBA report in 2019 showed that such businesses create more than two-thirds of new jobs and account for 44 percent of America’s overall economic activity.

With an eye on providing financial services to such business owners, as well as individuals, Alabama-based Baker Camp Arnold Capital Management LLC takes a hands-on approach.

“Our goal is to always be proactive,” Joshua Baker, principal owner/managing director of Baker Camp Arnold Capital Management, told Advisors Magazine in a recent interview. “For example, we’re going to see some tax reform — whether Republicans or Democrats take office,” he continued.

“We’re going to see some tax changes and we’re going to see some businesses still trying to come out of this (pandemic), whether it’s some SBA or bank help. Our mission is to be proactive, hone in on such changes and try to help a lot of these small businesses because that’s the backbone of America.”

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Baker notes that his firm, which services clients accross the country, can and does personal financial planning, but the primary goal is to make an impact in the small business world.

“Just to deliver them some ideas because every small business owner out there probably feels that they can outwork it and they’ll be okay,” Baker said, “But our goal is to build a plan for them so they don’t have to outwork every single day, just hoping that they make it.”

Founded in May of 2017, the firm handles everything — from insurance planning to investment planning, home and auto and commercial insurance planning, group medical needs and more.

“From a financial services standpoint, when you look at property/casualty/life/disability insurance, investment planning, 401(k) plans for business owners, supplemental group insurance — we can offer it all under this umbrella with this company,” Baker said. “So, it allows us to just really have a different piece of the market, instead of a client having to go to two or three different companies to get that type of comprehensive planning.”

The firm has no minimum investment level because its large platform can accommodate a broad spectrum of potential clients and Baker does not want to turn anyone away.

Baker Camp Arnold Capital Management aims to build sound financial plans that don’t necessarily just deal with today or getting to the retirement finish line. “We want to leave lasting impressions and legacies for future generations that are not even here yet,” Baker said.

Much of the work, using retirement planning as an example, is squarely planted in data, analytics and mathematics.

emoneysoft“For retirement planning, we utilize eMoney software and we do not charge planning fees, which is a huge value add,” Baker explained. “We’ll look at existing assets, existing planning, savings, and budget. We then take what they have, stress test through Monte Carlo simulations and if we need to make some changes, we’ll make changes.”

The firm relies on Senior Partner Tyler Camp, CFP®, who runs the asset allocation models. He creates all the financial plans, tailored with appropriate types of investment solutions.

“I go in and then build more of the advanced planning solutions with insurance — just to make sure that things are not all taxed in retirement,” Baker said. “If we can take taxes out, whether it’s using insurance or a Roth, we will.”

With people living longer nowadays, all plans are built to age 100, and at least two models of diversification are run: one focuses on how to get investment growth and more money for active retirement, and another focuses on capital preservation in passive retirement.

“I think everyone is on the same page, right now; taxes are going to rise,” Baker said. “So, if we can go ahead and do some of that planning now, then that’s going to mitigate and allow more income in retirement. You got to have a blend of a lot of diversified solutions to do that. One portfolio cannot fix it all.”

While each client case is different, the firm’s approach is consistent.

“We’ll look at all the different financial iterations we can have and then from there, that’s when we figure out where the missing links are,” Baker said, “or if we need to shift from the right pocket to the left pocket, whether we pre-tax or post-tax on savings – we can make those solutions. And then hopefully, extend income for clients another five or ten years in retirement.”

Client education, which Baker views as critical, is well-timed and ongoing.

“We take clients from the very beginning through the planning process and to the end in real time,” he said. “We don’t ask a bunch of questions and then come back and create these real nice charts. When we’re running our plans with our clients and prospective clients, the first time they see a chart is the first time we see a chart.”

The educate-as-we-go focus allows Baker Camp Arnold Capital Management to show clients what’s going on behind the numbers.

“And by the time they leave here, they have a very clear and intricate understanding of what they have,” Baker said. “And therefore, you know, they’re a lot happier. And they’ll refer more clients to us. We really don’t have an attrition issue at all. They’re happy here.”

For more information on Baker Camp Arnold Capital Management, visit: bakercamparnold.com

Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, LLC. Member SIPC (www.SIPC.org). Supervisory Office: 1050 Crown Pointe Parkway, Suite 1800, Atlanta, GA 30338. 770-551-3400. Baker Camp Arnold Capital Management is not a subsidiary of MML Investors Services, LLC, or its affiliated companies. CRN202301-275450.

 

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