April 17, 2014

Wealth Management

Investing advice: How are you advising clients to invest in 2013?

Florida wealth managers give advice in this special report.

Joe Keating
Chief Investment Officer
CenterState Bank, Winter Haven

“You want solid dividend payers.” ~ Joe Keating

Joe Keating likes dividend stocks. “They are defensive in nature,” he says. He points out Coca-Cola as an example. “Even if the stock price goes down, that dividend payment supports the price.” And even more, he says, a drop in price presents an opportunity to buy more Coca-Cola stock. “It’s a beautiful way to build wealth over time.”

Dividend stocks do not rise as much when the market goes up, but they tend not to fall as much when the market falls, which is why Keating believes they’re a good way to grow income over time. “Our holdings grew 6% last year.”
However, he warns, very high yields usually signal something bad. “You want solid dividend payers,” he says.

Some of Keating’s favorites are Clorox, 3M, AT&T, Consolidated Edison and Walgreens.
Keating says there is no right or wrong for how much of a portfolio to allocate to dividend stocks. He has a 70-year-old client who has 85% of her investments in dividend stocks. “It’s her choice. It’s all a matter of what someone can be comfortable with at night. “

Next page: Eli Butnaru, CEO Mora Wealth Management of Miami

Tags: Banking & Finance, Wealth Management

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