Michael R. Andersen is the founder and president of Andersen Wealth Management. He holds a Bachelor of Arts in political science and a master's degree in business administration, both from Salisbury University. In addition, he is a Registered Investment Adviser Representative and a licensed fiduciary.
"There are a lot of people out there doing financial work," Michael says. "But only a small percentage are fiduciaries. I think being held to the fiduciary standard is a must these days because we are required by law to put our clients first. Too many financial people are merely salesmen, and I believe that clients need an advisor who must be on their side."
In his practice, Michael strongly believes in regular financial education. As he explains it, "we tend to make the wisest decisions when we're well informed. And when it comes to financial decisions, the impact of a wrong choice could affect your lifestyle for many years. This is especially true for folks who are approaching or even in retirement. So part of my job is to help bring my clients to a level of education and understanding so they have all critical facts before making financial decisions."
Prior to forming his own firm, Michael worked with one of the country's premier risk management firms, and he carried that knowledge over to Andersen Wealth Management. While Michael is not against taking on various risks, he believes risks should be carefully controlled and kept to a minimum. Plenty of other advisors embrace risk; Michael simply believes in Warren Buffet's No. 1 rule of investing, "don't lose money," and he strives to protect his clients' life savings first and foremost.
Michael is routinely ranked as one of the country's top financial advisors, and he regularly wins awards for his innovative ideas, commitment to financial education and balanced approach that he takes with client investment recommendations.
Michael was born and raised in Rockville, MD but moved to the Eastern Shore in the late 1990s. He and his family split their time between coastal Delaware and Southwestern Florida. Outside of work he enjoys warm weather, political discussions, and having fun with his family.
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Questions? Michael Andersen is an Investment Adviser Representative and a fiduciary. Call (410) 690-4894 or click here to schedule a no-obligation initial consultation.
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According to Nationwide Retirement Institute, nearly half of retirees wish they had been better prepared for the taxes they would pay in their retirement years. In fact, a full 25 percent reported paying thousands more than expected. These surprise expenses can be frustrating at best and downright painful at worst, and they’re getting more and more common as retirees rely on tax-deferred options like 401(k) accounts.