Solutions for Your Financial Future
The people of New Mexico know Nusenda Credit Union serves members across the state. As a credit union, it is committed to providing higher savings rates and lower fees on banking products and services, investing in innovative financial solutions, and making a direct impact on the communities they serve.
But New Mexicans also need to know that through its contract with CUSO Financial Services L.P. (CFS*), Nusenda provides services that go beyond the day-to-day needs of their members. CFS* is a full service broker/dealer and SEC Registered Investment Adviser offering customized investment and insurance solutions to credit unions. This relationship allows Nusenda members access to help in planning for their futures, and determining investment strategies based on their needs and desires.
John Habing, Program Manager and Andrew Miller, RICP® are the CFS* Investment Services Registered Representatives at the credit union. They advise members on investments in stocks, bonds, annuities, mutual funds, and exchange traded funds as a means of working towards their goals.
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With decades of industry experience between them, Habing and Miller want to help educate members into and through retirement while empowering them to make decisions that will help them reach their financial goals.
Before Habing and Miller advise, however, they listen to the needs of members. “It’s an ongoing process,” says Miller. “We look at your full financial picture in a confidential setting, we get to know you, gather information; we ask questions and evaluate the information; we make recommendations, execute on those recommendations, and then continue to revisit the progress on an ongoing basis.”
Habing adds, “We have been with Nusenda for many years, and we have a number of long-time clients. We have been through exciting times with them, as well as harder times in life, like the death of a family member. We have conversations with members; we ask ‘What does this event mean to you financially?’ ‘Where are you in life?’”
Habing and Miller are quick to note that the majority of conversations they have center around assessing the incomes and assets of working people and determining when they might be able to retire.
The Potential Value of Advisory Accounts
Some investors prefer a transaction commission-based account while others prefer an advisory account where they pay a set management fee. Assets managed in advisory fee-based accounts are subject to fiduciary standards, which means their investment recommendations are based on a comprehensive portfolio fit. These accounts are also subject to an asset-based fee, which includes the cost of operational transactions and portfolio management expenses, but may not be suitable for all investors.
Historically, investment services at Nusenda are based more on a transaction-based model versus an advisory fee-based model. Whether a member chooses an advisory or transaction account at Nusenda, they receive unbiased investment advice from CUSO Financial Services Registered Representatives, and access to a broad range of investment products, the same way that they would with a large national firm. With this sort of relationship, Habing and Miller work with members to take a holistic approach to their financial planning and achieving life goals.
Andrew Miller shares why he does this work. “In this world, people need help investing. It can be daunting sometimes and I see my role as an educator, to teach people, and get them where they want to go—and help them meet their financial goals. Working with advisory accounts allows me to get to know members over the long term.”
John Habing shares in this sentiment. “I work in this business because I really get to help people. When a major life event happens, I get to be there for them and help them with the decisions they need to make for their future. I enjoy meeting people and talking with them about investments. I have been doing this for over two decades and I am still working with people who I met 20, almost 25 years ago. It’s different than other industries, and I enjoy fostering long-term relationships.”
A Customized Investment Approach
Rather than placing members in one-size-fits-all portfolios, the CFS* Investment Services Registered Representatives at Nusenda offer customized investment recommendations for each member.
Before members receive advice about investment options that match their goals, they meet with the team to learn about various financial vehicles (stocks, bonds, mutual funds, index funds, annuities, etc.), how to evaluate different investment products and services, and how to identify a good investment opportunity.
By educating members, the CFS* Registered Representatives at Nusenda empower them to take an active role in the investment process if they so choose.
Based in Albuquerque, Habing and Miller serve Nusenda members throughout the state.
Investment Services at Nusenda offers its members complimentary visits at its more than 20 branch locations throughout the state. Most of all, they offer a willingness to listen to what members want and need, and an openness to help on a transactional level or through an advisory account.
CUSO Financial Services, L.P.
Located at Nusenda Credit Union
4100 Pan American Freeway NE
Albuquerque, NM 87107
505.872.5434 | 800.347.2838
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer member FINRA/SIPC and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk, including possible loss of principal. Investment Representatives are registered through CFS. Nusenda Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
This content was provided by Financial Service Directory. Kiplinger is not affiliated with and does not endorse the company or products mentioned above.
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