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  • Welcome to Mainstay Capital Management

    Welcome to Mainstay Capital Management

    We are an independent, fee-only, Registered Investment Advisor. As a fiduciary to our clients,
    we offer truly objective investment advice with only your best interests in mind.

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  • When Your Investments Demand  Professional Management

    When Your Investments Demand Professional Management

    Mainstay Capital Management can bring you the peace of mind that comes with knowing you have planned prudently for your future.

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  • Mainstay Compass™

    Mainstay Compass™

    Together, we can create a plan to get you on the right path towards and through retirement.

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  • Investment Management Solutions

    Investment Management Solutions

    Our team will manage your investment portfolio consistent with your personal retirement plan.

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  • Individual 401(k), 457, and 403(b)  Account Management

    Individual 401(k), 457, and 403(b) Account Management

    We specialize in the management of individual 401(k), 457, and 403(b) accounts for employees and retirees.

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  • Client Service Built on Trust

    Client Service Built on Trust

    With our staff of Certified Financial PlannersTM and Chartered Retirement Planning CounselorsSM,
    we can offer advice and comprehensive solutions for all of your financial planning needs.

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The Fidelity Freedom Funds are designed for those participants who wish to base their asset allocation decision on a specific target year. The account is typically aligned with the Freedom Fund that most closely matches your projected retirement date.

Six of these funds are included in the Int'l UAW plan, with 10-year incremental targets from 2010 to 2050, along with a fund targeted as Income Fund. The way the Freedom Funds are designed, the further away the target date, the more aggressive the asset allocation, conversely, the closer the date, the greater the emphasis on preservation of capital in the asset allocation.

Freedom Funds hold some appeal in that they are simple to explain and administer. While this approach is unique, we believe the asset allocation decisions provided by these funds are crude at best. Freedom Funds attempt to make decisions about asset allocation based solely on a target date. An investor’s tolerance for risk and financial goals are other key factors that should largely play a role in determining the investment strategy and asset allocation. Additionally, they leave no room for the fund manager to tactically adjust the allocation strategy based on specific opportunities within the financial markets or in response to prevailing market conditions.

The returns realized in these commingled vehicles are diluted by a rigid adherence to mechanical allocation parameters. These parameters may prove to be shortsighted and inappropriate for everyone participating in the pool. The real world changes every day, yet proponents of Freedom Funds, or similar funds, expect someone to stick to a single game plan for as much as 40 years, whether interest rates are rising or falling, or whether the economy is in expansion or recession. While Freedom Funds offer a simple one-stop-solution, we continue to advise participants to avoid these funds and retain the flexibility to proactively adjust their portfolios as needed.

Please reference The Problem With Target-Date Funds

Many retirement savings plans, including the Int’l UAW, have moved to using institutional funds in place of retail mutual funds. In doing so the plan architects are moving to investment options with lower internal operating expenses. The institutional funds do not have the marketing costs associated with retail mutual funds that are ultimately passed along to the shareholders in the form of fund management expenses. The problem with institutional funds, however, is the lack of publicly available information about the funds that is so readily available for retail mutual funds through the fund family’s website or other data retrieval services. This is one of the drawbacks to institutional funds as investment options in the Int’l UAW plan. Because of the lack of publicly available information, the institutional funds within the plan are not detailed in our Fund Tables.

  • Americas Top Wealth Advisors 2020
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    • Americas Top Wealth Advisors 2020
    • Financial Advisor
    • 2018 Top 100 Barron's
    • Financial Times
    • Financial Planning

      Recent Media Appearances

      Bloomberg

      David Kudla, Mainstay Capital Management founder and chief executive officer, discusses Fed policy and how tariffs could change market outlook.

      FOX Business

      Mainstay Capital Management CEO David Kudla joined Maria Bartiromo on Fox Business TV to discuss the economy and where stocks are headed next.

      CNBC

      CNBC’s Steve Liesman interviews Federal Reserve President Charles Evans live from the ENGAGE Undergraduate Investment Conference.