FINANCIAL FOCUS: “We work with clients to help them make sound financial decisions. We are advocates for them, and we have long-term relationships. Underlying everything is our desire to help people meet their financial goals.” Shown, from left, are financial advisors Michael G. Petrone, CFP, JD; Thomas M. Petrone, CLU; and Andrew Petrone of Petrone Associates Financial Advisors, the longtime family business founded by President Thomas M. Petrone.

By Jean Stratton

For 53 years, Petrone Associates Financial Advisors has been helping clients navigate their finances and guiding them to a successful outcome and future.

Such important work has become even more necessary today as people are dealing with challenges on many levels. Recovering from the aftermath of a worldwide pandemic, coping with inflation, uncertainty over taxes, worries over technology, and climate change are all foremost.

On a more personal level, it can include anxiety over the next paycheck, protecting income, funding college costs, long-term health care planning, or anticipating retirement needs.

Whatever one’s financial status, these are all concerns that require careful attention.

Safety Net

All the more reason to obtain the peace of mind that financial planning can bring. Creating a plan and establishing a safety net can go a long way toward relieving anxiety and worry over the future.

This is the goal of Petrone Associates Financial Advisors. As the firm states in a recent newsletter: “Financial planning can help you set and maximize your chances of reaching your financial goals, plan for retirement, protect against risk, choose investments that align with your time horizon and risk tolerance, save money on taxes, save for college, address legacy and estate planning issues, organize your finances, and manage your cash flow. Financial planning can provide a road map to reach your goals and provide financial security.”

Established in 1950 by Thomas M. Petrone, CLU, the company has a long history of helping clients. Located at 2 Research Way (just off College Road), it is a family business, with financial advisors Michael G. Petrone, CFP, JD and Andrew E. Petrone joining their father in the firm.

Addressing the diverse individual needs of each client and the challenges each confronts is always important, as Andrew Petrone points out. “Every client is unique and different and has a different situation.

Whatever the client’s financial circumstances and goals are, careful planning is crucial.”

In addition, Michael Petrone reports that they are advocates for their clients’ long-term future. “Our clients trust us to look at the big picture for them. We really care about helping them achieve their goals, and we work diligently with them. We are very transparent about our compensation, so everything is very clear at the outset.”

Establishing a suitable plan for each client includes several steps, explain the brothers. “A financial plan starts with a review of the client’s current financial position and an assessment of progress toward meeting the client’s financial goals and priorities. A plan typically includes cash flow planning, retirement planning, investment planning, risk management/insurance, and tax strategies.”

Depth and Dimension

Both brothers have impressive backgrounds which add depth and dimension to their financial expertise.

Michael practiced law in the Princeton area for 10 years before turning his attention to the family business. In addition, he served as law clerk to the Honorable Thomas F. Shebell Jr., presiding judge, Appellate Division, New Jersey Superior Supreme Court in 1994-95.

Now, as a Certified Financial Planner practitioner, he counsels clients in many areas, with a focus on retirement planning, investments, and insurance. Health care is another area of interest, and he is the author of several articles in Mercer Magazine.

“Retirement planning is a big issue for many clients,” he notes. “Many of them are in their forties and fifties, and they are focusing on this. The sooner you start to prepare, the better.”

Andrew Petrone has also had an extensive career, including in economic development and politics. Prior to his role at Petrone Associates, he had served as project manager for the New Brunswick Development Corporation and as an officer of the New Jersey Committee for Economic Growth. In addition, he spent time in the New Jersey political world, including assisting and advising candidates in campaigns for the state legislature.

As a financial advisor, he focuses on investment advisory services, retirement planning, and risk management. He also has extensive experience in estate planning for high-net-worth clients. In addition, he has led numerous seminars for CPAs in the areas of qualified retirement plans, and risk management strategies.

All Ages

Diversification in portfolios is a very important priority, note both Michael and Andrew. “High volatility in the stock market causes anxiety. There is less risk if people have a diversified portfolio. It is also important that the portfolio matches up with a client’s personal risk tolerance. That can be different for an older person looking toward retirement than for a younger person with years of active employment ahead. Also, clients with a high net worth can generally afford more risk, while others may want a more conservative portfolio.”

The company has clients of all ages and backgrounds, including those of high net worth and those just launching their career. Their clients include physicians, attorneys, bankers, professional people, teachers, and business owners, among others.

Not only are many clients focused on planning for retirement, but also on early retirement, adds Michael. “This is a major issue today. Another thing, when to start receiving Social Security is a big planning factor now. It’s very important in many clients’ overall plan.”

A team approach is a primary focus at Petrone Associates, with the brothers working together with clients. It is another way they are set apart from other financial organizations, they believe. “Over the years, we have found that a team approach can be an effective method to help clients who have a wide variety of needs. Our collaboration can help them navigate a complex financial-services world.”

“We enjoy the problem-solving, putting the puzzle together,” continues Michael. “It is challenging to figure out and see what will work best for each client.

“It is a continuing learning process,” points out Andrew. “We educate ourselves on a regular basis. There are always new technologies, new rules, new companies. It is always changing, and we are always learning.”

Community Service

In addition to Petrone Associates’ financial expertise, the company has consistently assumed a major role in community service by contributing to various charities and supporting many organizations.

“We are part of the community. We grew up here; it has been our home,” explains Michael, who served as a board member of Princeton Little League for eight years, and as chairman of the Princeton Recreation Board in 2011-12.

“Andy is responsible for the firm’s philanthropic efforts, including support for the Children’s Home Society of New Jersey, Mercer Street Friends Food Bank, and Elijah’s Promise Soup Kitchen.”

Many clients are knowledgeable about their finances, point ou t the brothers, but they still all need help with a variety of financial plans and challenges. “We look forward to continuing to give good advice to our clients and help them to become even more successful. We are proud to be part of Petrone Associates, our family business, and helping our clients reach their financial goals.” The company is open Monday through Friday by appointment 9 a.m. to 5 p.m. For more information, call (609) 452-9292. Visit the website at petroneassociates.com.

Securities products services and advisory services offered through Park Avenue Securities LLC (PAS), a registered broker/dealer and investment advisor. Financial Representatives, the Guardian Life Insurance Company of America, New York, NY (Guardian). PAS is a wholly-owned subsidiary of Guardian. Petrone Associates, Inc. is not an affiliate or subsidiary of PAS or Guardian.