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Mullooly Asset Management

Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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NYSDCP: Look Out For Changes Ahead With Schwab

March 26, 2011 by Thomas Mullooly

New York State Deferred Compensation Program:
There are some changes coming in the next few weeks you should be aware of:

 

1.  Mullooly Asset has been granted institutional access now at Schwab.
What does this mean?

Mullooly Asset has gathered substantial assets at Charles Schwab in and out of the NYSDCP. When we make changes in your New York State Deferred compensation plan account, we currently need to log in to (and then log out of) each individual account.  This can be a lengthy process and slows down getting you in to (or out of) particular investments.  Now Mullooly Asset will be able to make changes instantly.

2.  Investment management fees will be deducted directly from your account at Charles Schwab.
What does this mean?

Primarily, it means no more writing checks every quarter to Mullooly Asset Management.   No more Paypal.   No more “pink” letters in the mail.   No more “house-keeping” phone calls from Tom.   All good.

3.  Statements and confirmations will be delivered electronically.
What does this mean?

When we make changes in your account at Schwab, you get transaction confirmations by mail.  You also get statements every month in the mailbox.   Guess what? Whatever you get, we get.   We get a copy of every single piece of mail.   Our shredder has been running around the clock, every day.   But no more.   You will be adored by tree-huggers everywhere.   Next Christmas, WE will get a card from our letter carrier, thanking us.

4.  One negative: we need updated paperwork from you.
What does this mean?

Look for a letter from us in the mail (soon) outlining these changes.

 

Questions?
Call the office at 732-223-9000.

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Filed Under: NYSDCP

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

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2052 NJ-35, Suite #203
Wall Township, NJ 07719
Phone: (732) 223-9000
Fax: (732) 223-9600
Email: support@mullooly.net

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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