Mark joined WHAM in January of 1998 when his weekly call in financial show "Money and More" first aired. The show ran for eleven years and became one of the stations highest rated programs. Recently Mark has returned to provide daily commentary and analysis on the WHAM afternoon news. His segment can be heard at 4:26pm Monday through Friday, with an extended appearance with Randy Gorbman on Thursdays.
Mark started his financial services career in 1986 with IDS/American Express. He is a Certified Fund Specialist and Certified Long Term Care Specialist with a Bachelor's Degree in Economics and Management from SUNY Geneseo. He has designed, authored, and presented retirement and long term care workshops for clients, corporations, and non-profit organizations such as Xerox, Kodak, Agway, and the United Way.
In 2007, Registered Rep magazine listed Mark among the Top 100 Independent Advisors in the country. He lives in Geneseo with his wife Susan and has four children. Mark is an avid fisherman and enjoys spending time at his family cottage in the Thousand Islands. Mark also collects Civil War and Underground Railroad memorabilia for a museum he keeps in the basement of the historic Henrietta office.
As professionals skilled in retirement planning, the partners of The Horizon Group have helped hundreds of people in the Rochester area since our founding in 1993. We specialize in helping clients invest and protect their retirement assets with a straightforward and down-to-earth approach through open and honest communication.
We are proud of being able to help clients make difficult decisions necessary for a successful retirement. We are dedicated to the highest level of professionalism and ethical standards in our practice, and we honor the individual circumstances facing each client.
When faced with providing income and security for a lifetime, retirees are comforted by our "Bucket Approach" and half-century of combined experience. Our formalized review process and frequent communication through newsletters, e-mail, and seminars provide our clients with peace of mind and keeps them focused on what is truly important.
Working with The Horizon Group affords our clients a level of service and unbiased advice that can be delivered only by a small independent practice. At the same time, our client accounts are offered the same FINRA and SIPC protections through our broker-dealer, Cadaret, Grant & Co., Inc., as they would be at a large brokerage house.
We take the time to understand all the questions and concerns our clients have about the future. Aiding them in dealing with these concerns often means going above and beyond the duties of the average financial planner, something we are always willing to do. Helping a child, buying a second home, or dealing with long term care are all issues we assist clients with regularly. At The Horizon Group, we know it's about the quality of your life, not just your portfolio.
The views expressed in Mark's commentaries are to be considered for informational and entertainment purposes only. Before making decisions based on any content in Mark's commentaries you should always consult your financial or tax professional.
The views expressed herein do not necessarily reflect those of this station or of Clear Channel Communications, Inc.
Mark Congdon is a registered representative of Cadaret, Grant & Co., Inc., Member FINRA/SIPC.
Warren Sapp, the popular former defensive tackle for the Tampa Bay Buccaneers and Oakland Raiders is the most recent sports stars to go bankrupt. According to his chapter 7 filing in Fort Lauderdale Florida he owes roughly $6.7 million to creditors- plus back child support and alimony -against assets of $6.45 million. That’s despite a successful 13 year NFL career. How is this possible?
One reason so many athletes go broke is because they put too much money in private equity investments. Michael Vick, star quarterback of the Philadelphia Eagles, filed for Chapter 11 bankruptcy after several bad business deals- he lost $40,000 he invested in a janitorial company with a friend, $150,000 on an airport medical service, $827,000 on two wine bars and a package store, $1.4 million on a car rental business, and $200,000 on a horse farm. Making it even worse was that several of these investments were made based on bad advice from so-called financial advisors.
Professional athletes have no problem finding bad financial advice. The NFL PA estimates that between 1999 and 2002 78 players lost a total of $42 million in acts of fraud perpetrated by financial advisors. For example, Sports Illustrated describes a former high round NFL pick whose advisor couldn't reveal how much she was charging to manage his municipal bonds "because of the patriot act." This advisor was taking $146,000 in commissions every year. In response to this type of fraud, the NFL PA started its Financial Advisors Program in 2002. This program sets restrictions based on experience and background checks to ensure that only well-intentioned and experienced financial advisors are allowed to deal with players.
Extravagant spending frequently plays a role in breaking pro athletes. Former MLB slugger Jack Clark filed for bankruptcy in July 1992 while still playing, listing debts of $6.7 million and ownership of 18 cars – 17 of which still had outstanding payments. The amount of money lost by some players is more than many of us will make in a lifetime. But there are lessons to be learned from their mistakes. Do your own research on all financial advice you get, even from professional advisors. Make sure you fully understand what’s being proposed and that it makes sense. And forget the hot stock tip and can’t miss business deals. There are no shortcuts. If something sounds too good to be true, you can bet it is.