Jay Mulligan is a CFP®. Jay has practiced his craft for 25 years. Jay brings a wealth of Financial Planning knowledge to our clients at Payant Wealth Management Group.
Jay is directly involved in all aspects of our client’s Financial Planning including:
- Financial Cash Flow Planning & Modeling
- Investment Research Selection and Management
- Income Tax Modeling and Planning
- Risk Management – Insurance Planning including Life Insurance. Also coordinating with Payant Insurance Services, Inc. dealing with our specialist in Medicare and RTI Insurance dealing with Personal & Business lines of insurance.
- Assists clients to create sound Legacy & Estate Plans for their family members and other loved ones.
Jay holds 6, 7, 22, 24, & 63 securities registrations. He is also Life, Health and Variable Insurance licensed.
Jay’s primary focus is working face to face with you, our clients providing outstanding personal care and service.
As a Certified Financial Planner™ Practitioner, Jay brings one of the professions most important designations (skill sets) to our clients.
While Jay has achieved great financial skill,
Jay also holds a Bachelor’s degree in Communication. He is a great communicator and enjoyable to work with.
What it takes to become a CFP
CFP® professionals complete a multi-year, multi-step process to obtain the skills and real-life experience they need to serve your best interests.
The course of study develops expertise in 70 specific topics over eight major areas of personal financial planning:
- Professional Conduct and Regulation
- CFP Board's Code of Ethics and Standards of Conduct
- CFP Board’s Procedural Rules
- Function, purpose, and general structure of financial institutions
- Financial services regulations and requirements
- Consumer protection laws
- Fiduciary standard and application
- General Principles of Financial Planning
- Financial planning process
- Financial statements
- Cash flow management
- Financing strategies and debt management
- Economic concepts
- Time value of money concepts and calculations
- Education needs analysis
- Education savings vehicles
- Education funding
- Gift / income tax strategies
- Risk Management and Insurance Planning
- Principles of risk and insurance
- Analysis and evaluation of risk exposures
- Health insurance and health care cost management (individual and group)
- Disability income insurance (individual and group)
- Long-term care insurance and long-term case planning (individual and group)
- Qualified and Non-Qualified Annuities
- Life insurance (individual and group)
- Business owner insurance solutions
- Insurance needs analysis
- Insurance policy and company selection
- Investment Planning
- Characteristics, uses and taxation of investment vehicles
- Types of investment risk
- Market cycles
- Quantitative investment concepts and measures of investment returns
- Asset allocation and portfolio diversification
- Bond and stock valuation concepts
- Portfolio development and analysis
- Investment strategies
- Alternative investments and liquidity risk
- Tax Planning
- Fundamental and current tax law
- Income tax fundamentals and calculations
- Characteristics and income taxation of business entities
- Income taxation of trusts and estates
- Tax reduction/management techniques
- Tax consequences of property transactions
- Tax implications of special circumstances
- Charitable/philanthropic contributions and deductions
- Retirement Savings and Income Planning
- Retirement needs analysis
- Social Security and Medicare planning
- Eldercare and special needs planning
- Types of retirement plans
- Qualified plan rules and options
- Non-qualified plan rules and options
- Key factors affecting plan selection for businesses
- Distribution rules and taxation
- Retirement income and distribution strategies
- Business succession planning
- Estate Planning
- Property titling and beneficiary designations
- Strategies to transfer property
- Estate and incapacity planning documents
- Gift, estate, and GST tax compliance and calculation
- Sources for estate liquidity
- Types, features, and taxation of trusts
- Marital deduction
- Intra-family and other business transfer techniques
- Postmortem estate planning techniques
- Planning for divorce, unmarried couples and other special circumstances
- Planning for special needs and circumstances
- Psychology of Financial Planning
- Client and planner attitudes, values, biases
- Behavioral finance
- Sources of money conflict
- Principles of counseling
- General principles of effective communication
- Crisis events with severe consequences
- Additional requirements:
- A Bachelor's Degree for an accredited college or university
- 6,000 hours of professional experience related to the financial planning process.
- Comprehensive multi-day exam with an average pass rate of less than half.
- Ethics requirements include:
- Acting as a fiduciary — in the best interests of the client at all times when providing financial advice.
- Pass a detailed background check.
- Commit to some of the highest ethical and conduct standards in the industry.