Our History | Compass Point

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As the baby boomers enter retirement at a rate of 10,000 per day, it’s clear Social Security will not be enough to support them. This becomes troubling when you consider that 76% of baby boomers are not confident that they’ve saved enough for retirement. This lack of confidence is justified as people live longer and longer, with 1 in 4 of today’s 65-year-olds living past 90.

 

Compass Point Retirement Planning understands the concerns of current and soon to be retirees and have helped clients secure their financial future for nearly 30 years. The Wakefield, MA firm is led by founders, owners, and advisors Tom Nee and Mike Labrie.  They mainly focus on clients nearing retirement who want to know the answer to two important questions: 1) How do I invest my money in the best possible way, and 2) What is safe to withdraw from my savings when I retire? Although Compass Point helps clients accumulate wealth before retirement, their unique expertise appears when a client transitions into retirement and begins drawing from their hard-earned nest egg.

 

For years, advisors have utilized a withdrawal strategy referred to as the 4% Rule. Mike Labrie discovered that while the 4% Rule worked in some cases, it failed in two major ways. For some, it created an income shortfall, resulting in a retiree running out of money. For others, it created a lifestyle shortfall, where a retiree withdraws too little and does not live their best possible life, even though they have the money to do so. To address this, Compass Point developed the TRU Method®. The TRU Method® seeks to overcome the retirement income gaps resulting from the 4% Rule. Every client receives unique care and attention to create a customized plan designed with the aim of lasting through their retirement and improving their lifestyle.

 

Beyond their innovative approach to withdrawal, Compass Point takes pride in their experienced support team. Advisors often think they need to do everything themselves. This leads them to either take on too many clients with not enough help, or limit the number of clients they can help because of the size of their firm. Mike and Tom learned that an advisor’s greatest strength lies in their ability to trust their team of support staff. Because Compass Point wants to provide an exceptional client experience, they have a higher staff to client ratio than normal. This means clients are contacted regularly to address any recent issues, set up appointments, and confirm the firm is meeting and exceeding the expected level of service.

 

Our Purpose and Vision – RIA Excellence

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Mike and Tom believe that by partnering with f3Logic advisors will have the confidence to make the change from captivity to true and customized independence. For advisors that are already independent, f3Logic will help them transition to a platform to better serve their clients’ needs. They expect f3Logic will be a model company in the RIA aggregator space. They plan on growing Compass Point with both individual client acquisition and by bringing on new advisors through f3Logic’s “tuck-in” model. The ultimate goal is to take the firm to $2B in AUM. Mike and Tom are confident that by helping clients achieve the financial future they truly desire and leading a firm where advisors can achieve their career goals, they will make this goal a reality before they retire.

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All information above has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. Compass Point Retirement Planning is a Registered Investment Adviser.