Flight Line Financial, LLC is a Registered Investment Advisor firm located in Princeton, New Jersey specializing in 401(k) financial planning, advice and asset allocation strategies specifically for airline pilots. The firm divides its expertise in 2 distinct and separate services for pilots depending on age and proximity to retirement:
1. Younger pilots, less than age 59 ½: For a low flat annual fee of $500.00, which is not deducted from your 401(k) tax deferred account – therefore allowing tax free and management fee growth and compounding of assets, Flight Line Financial will provide asset allocation strategies to your account implementing four core principles. These principles are diversification, allocation, dollar cost averaging and rebalancing. Mixing passively managed index funds along with actively managed funds provides a mix to maximize potential for growth, minimizing expenses while mitigating risk across various sectors. Allocation strategies take into account risk tolerance and time horizons while considering global and domestic concerns in the marketplace. Other topics discussed are 529’s, outside IRA’s, spousal IRA’s, 415(c) limits, RHA, B plan, Roth vs. non Roth, etc.
2. Older pilots, over age 59 ½: Pilots over this age can conduct an in-service distribution, or rollover, from their existing 401(k) to an already established IRA. Flight Line Financial maintains a referral relationship with one of the oldest and most respected wealth management firms on Wall Street. We have referred pilots that have met this in-service distribution threshold to a team at Morgan Stanley Wealth Management in New York City to accomplish this vital post – retirement financial planning. The purpose of an in-service distribution is to create a financial retirement glide path by establishing a post-retirement plan up to 5 ½ years prior to retiring. Once the pilot actually retires, additional assets are then incorporated into the already existing plan. Additional wealth management services include annuity planning, trust and estate planning, long term care, social security, IRA’s, tax planning, required minimum distributions, asset distribution planning, etc. Holistic planning incorporating investable assets, social security strategies, pensions – such as military, lump sums if applicable, etc., is vitally important in replacing earned income with investment income in a retirement that can last 25 years or longer.
Glenn Nevola, Flight Line Financial’s founder, is a current United Airlines B737 captain based in Newark, NJ. His flying career began at People Express Airlines in 1986, which was then merged with Continental Airlines in 1987. He flew for Continental until their merger with United in 2010. In addition, he is a financial advisor and holds series 7 and series 66 licenses. He is also licensed as an insurance producer in New Jersey along with annuity certification. He was a recent financial advisor on a team at Morgan Stanley in New York City managing $1.5B in assets and charged with developing, implementing, monitoring and adjusting allocation strategies for existing clients based on risk modeling and time horizon. He has intimate knowledge of pilot retirement accounts and platforms, such as Schwab, Fidelity, T. Rowe Price, etc., and all facets of frozen A plans including lump sums and annuities, B plans, RHA, PBGC limitations and retirement incentives provided by companies. Additionally, he operated the finance arm of a real estate company he owned for 12 years conducting over 300 closing during that timeframe.
We look forward working with you towards securing your financial future.