Richard McWhorter | Source | Private Wealth Advisor and Managing Partner at SRM Private Wealth

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Richard McWhorter

Private Wealth Advisor and Managing Partner at SRM Private Wealth
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Richard McWhorter is a current Private Wealth Advisor and Managing Partner of SRM Private Wealth. He was previously a managing director at Merrill Lynch until May 2024. His team serves high-net worth and ultra-high-net worth individuals, including executives in the sports industries. SRM Private Wealth was the 11th team to join Summit this year. McWhorter managed $1.9 billion in client assets and is joined by his partner Sandra Parracino and client associate Kyle Szesnat.

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  • No. 1 Investment Goal for Every Decade of Your Life

    Investment goals rarely remain stagnant. Just as other priorities and aspirations evolve as we age, our investment goals change, too. Your needs and wants in your twenties will look different from those in your fifties, so your investment goals must align with the current decade of your life. Read More: How To Get a 10% Return on Investment (ROI): 10 Proven Ways Find Out: 4 Low-Risk Ways To Build Your Savings in 2025 Of course, everyone's life moves at different rates, so don't fret too much if your investment goals don't align with ours. The important thing is that your investment plans grow with you. Let's look at our list of the No. 1 investment goals for each decade of your life. 20s: Start Investing For many people, your twenties mark the end of traditional schooling and the beginning of your career. Since this decade is likely the start of...

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  • More Americans Made ‘Hardship Withdrawals’ From Retirement Funds in 2024, Study Finds

    The study also found that the average account balance had increased to $134,000 at the end of 2023 compared with $106,000 in 2019.

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  • Tariffs hit auto repair costs hard, add uncertainty, say experts

    The Trump administration’s sweeping tariffs on imported goods is perhaps impacting the automotive and insurance industries like no other.

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  • Trade War and Market Volatility Shake Investor Confidence
    Richard notes that the trade war and market volatility create uncertainty, stalling investment decisions. He says, "The 90-day reprieve merely postpones the potential outcomes," affecting retirement confidence. Opinions vary, with some clients optimistic about future policies, while others criticize the trade war. Richard advises patience, as "only time will tell" the administration's success.
  • Investment Goals for Every Decade: Expert Insights from SRM Private Wealth
    Richard advises, in your 20s, focus on "high-growth investments." In your 30s, "increase savings for retirement, college, and major expenses." By your 50s, "refocus on retirement, reduce risk, and consider estate planning." Adjust strategies as life stages evolve to ensure financial security.
  • Wealth Advisor Urges Critical Thinking to Protect Wealth from Market Instability
    Richard emphasizes understanding both the upside and downside of investments. He advises wealthy clients to employ critical thinking, avoiding emotional decisions and FOMO. "My job is to take the emotion out of the equation," he states, highlighting the importance of informed decision-making in financial planning.
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