What is a fiduciary financial advisor, and why does it matter?

A fiduciary is legally obligated to act in your best interest when giving investment advice. This standard matters because it means an advisor's recommendations must be based on what's best for you, not on what pays the advisor the most. Cox Global Associates and Cody Cox can act as a fiduciary advisor when providing advisory services or as a registered representative when performing nondiscretionary brokerage services. Learn more about our team here: https://www.coxglobalassociates.com/team

How much money do I need to work with a financial advisor?

Requirements vary by firm. Many advisors, including Cox Global Associates, generally work with individuals who have $50,000 or more in investable assets, though the right fit depends more on your goals and stage of life than a specific dollar amount. Cox Global Associates does not have an account minimum requirement; there are solutions available for those just beginning.

How do financial advisors charge for their services?

Advisors may charge a percentage of assets managed, a flat or hourly fee, a retainer, or commissions on products sold. Investors should ask any advisor directly how they're compensated and think about if that compensation may cause the advisor to not act in the client's best interest. When providing fiduciary advisory services, Cox Global Associates charges a percentage of assets managed, but when acting as a registered representative performing nondiscretionary brokerage services, Cox Global Associates may collect a commission. Learn more about what we do and the accounts we manage here: https://www.coxglobalassociates.com/our-services

What's the difference between a financial advisor and a financial planner?

“Financial advisor” is a broad term for professionals who help with investments and financial decisions. “Financial planner” often refers to someone who builds a comprehensive plan to show how someone might achieve goals related to retirement, taxes, education funding, or estate gifting. A financial advisor can also provide basic planning, and a financial planner may offer investment services.

What credentials should I look for in a financial advisor?

Common credentials, like CFP®, CFA®, or ChFC®, require coursework, exams, and ethics standards. A CFP® indicates specialized planning training, CFA® is for investment or security analysis training, and a ChFC® for generalized financial consulting. Credentials are one factor to weigh alongside experience, services offered, and fees.

Why do families choose Cox Global Associates?

Cox Global Associates has served families and business owners for decades, helping multiple generations navigate retirement, inheritance, investment management, and business retirement plans. Our goal is to provide long-term guidance that adapts as life changes.

How much do I need to save to retire comfortably?

The amount you need depends on your lifestyle, expected expenses, health, and other income sources such as Social Security, rental property, or a work pension. A financial advisor can help you build projections based on your specific circumstances and create an investment strategy to grow your assets. You can find some basic calculators here to get started: https://www.coxglobalassociates.com/resource-center/calculators

When should I start taking Social Security?

The right age to claim depends on factors like your health, other income sources, and overall financial goals, and your decision will have a large impact on your lifetime benefit. This decision is worth reviewing with a financial advisor before you file. Learn more about maximizing your Social Security benefits here: https://www.coxglobalassociates.com/resource-center/retirement/maximizing-your-social-security-benefits

How can I reduce taxes in retirement?

Tax outcomes in retirement depend on your total income, account types, withdrawal order, and current tax law. A financial advisor can help you evaluate strategies specific to your situation; for tax or legal guidance we recommend consulting a qualified tax professional or attorney.

What happens to my 401(k) or IRA when I retire?

You generally have several options, including leaving funds where they are, rolling them into an IRA, or taking the money out as a distribution. Each option carries different rules and tax implications, which are worth reviewing with an advisor before you decide. A financial advisor can help you decide if combining multiple accounts you own is possible and a good idea when you retire. Cox Global Associates will help their clients through the rollover or transfer process should that be the best option.

What is the difference between a Roth IRA and a traditional IRA?

Traditional IRA contributions may be tax-deductible, and withdrawals are taxed as income in retirement, while Roth IRA contributions are made after tax, but qualified withdrawals are generally tax-free. The better option often depends on whether you expect to be in a higher or lower tax bracket in retirement. Cox Global Associates can help you compare both account types and decide how to divide contributions based on your income and long-term goals.

How much can I contribute to an IRA?

For 2026, the IRA contribution limit is $7,500 across all traditional and Roth IRAs combined, with an additional $1,100 catch-up contribution allowed for those age 50 and older, for a total of $8,600. Unlike workplace retirement accounts, IRAs do not offer a “super catch-up” contribution for those age 60-63. Roth IRA contributions are also subject to income limits that can reduce or eliminate how much you're allowed to contribute. Cox Global Associates helps clients track annual limits and coordinate contributions across accounts to help avoid excess contribution penalties.

What are required minimum distributions (RMDs)?

Required minimum distributions are the minimum amounts you must withdraw each year from many (not all) types of tax-deferred retirement accounts, generally starting at age 73 for those born in 1951-1959 (or 75 for those born in 1960 or later). Missing an RMD can result in a significant IRS penalty, so accurate timing and calculation matter. Cox Global Associates calculates and coordinates RMDs for clients each year to help them meet deadlines while managing the tax impact.

How do I create a retirement income plan that lasts?

A retirement income plan typically combines your savings, Social Security, and other income sources with a withdrawal strategy designed to last through retirement. Because timelines and expenses differ for everyone, this is best built with personalized guidance. Cox Global Associates can create a retirement plan that will help you achieve your specific goals. 

Can I move my accounts from another financial institution?

Yes. In many cases, accounts can be transferred without liquidating investments. A financial advisor can help evaluate available transfer options and explain any fees or restrictions. Cox Global Associates has years of experience helping clients transfer assets and consolidate accounts originating from many different places.

What money topics do I need to talk about with my partner before I get married?

Couples generally benefit from discussing income, debt, spending habits, and whether to combine or keep accounts separate before marriage. It's also a good time to review beneficiary designations, insurance coverage, and any estate documents that may need updating. Cox Global Associates can help you have this conversation as a neutral party and align your combined financial picture with shared goals.

What should I talk to my financial advisor about if I get divorced?

Divorce often involves dividing retirement accounts, which may require a qualified domestic relations order (QDRO) for workplace plans, along with updating beneficiary designations, insurance, and estate documents. Your advisor can also help you rebuild a budget and investment strategy that reflects your new financial situation. For the legal aspects of divorce, we recommend working with a qualified attorney.

Should I make changes to my investments when I have children?

Having a child is a good time to revisit beneficiary designations, life insurance coverage, and your will or guardianship documents. Your investment strategy and timeline may also need to be reviewed as your goals and expenses change. Cox Global Associates can help you prioritize these updates and plan for future costs like education.

What is the best way to save for my child's education?

Common education savings options include 529 plans, Trump Accounts (a tax-advantaged account type for children under 18 that launched in 2026 — learn more at trumpaccounts.gov), Coverdell accounts, and custodial accounts, each with different tax treatment, contribution rules, and flexibility. The right choice depends on your timeline, state of residence, and other savings goals. Cox Global Associates can help you compare options and build a savings plan. Here are some things that would be considered qualified education expenses that you can cover with various education accounts: https://www.coxglobalassociates.com/resource-center/money/what-can-you-buy-with-529-distributions

How can my children begin investing?

Options for children generally include custodial accounts (UTMA/UGMA) opened by a parent or guardian, and, for teens with earned income, a custodial Roth IRA. Each option has different rules around contributions, taxes, and control of the account once a child reaches adulthood. Cox Global Associates would be honored to help your children choose the right account based on your child's age and goals.

What's the difference between a 401(k) and a SIMPLE IRA for a small business?

A 401(k) allows higher contribution limits and more plan design flexibility (for example, it can offer loans, flexible matching options, and profit sharing) while a SIMPLE IRA is for companies with less than 100 employees, offers a maximum 3% match, and is typically less costly to administer. The right option depends on your business size, budget, and goals. Cox Global Associates specializes in retirement plans for small businesses and can help you design the right plan for your company.

How do I set up a retirement plan for my employees?

Setting up a plan involves choosing a plan type, provider, and administrator, then establishing contribution and eligibility rules. Companies or plan sponsors become fiduciaries to the retirement plan, meaning they must act in the best interest of its participants. A financial advisor experienced with company retirement plans can help you choose the right firm for each service needed to run the plan. Plans should be reviewed at least annually for costs, investment options, plan service providers, and appropriateness for all participants. This visual can help you get a better idea of your options as an employer: https://www.coxglobalassociates.com/resource-center/retirement/exploring-retirement-plans-for-small-businesses

What do I need to do when I inherit an IRA or 401(k)?

Steps typically include notifying the account custodian or financial advisor, providing a death certificate, and choosing a distribution option based on your relationship to the original owner and current IRS rules. Requirements vary, so it's important to confirm your specific options before taking action. Cox Global Associates is a multi-generational advisory firm that helps their clients incorporate newly inherited assets into client portfolios but also assists client beneficiaries when the time comes.

What is a Letter Testamentary, and when do I need one?

A Letter Testamentary is a court document naming an executor and authorizing them to act on behalf of an estate. It's typically required to access or transfer non-retirement assets held solely in a deceased person's name.

How do I know if I should inherit funds from my parent or family member?

Whether you're entitled to inherited funds depends on how the account or asset was titled — for example, whether you're named as a beneficiary on a retirement account or included in a will. An estate attorney or executor of a will can confirm your status, and a financial advisor can help you think through your options, including the choice to accept or disclaim an inheritance.

What is a beneficiary designation, and why should I review it?

Beneficiary designations determine who receives certain assets at death and generally override instructions in a will. Reviewing them periodically can help ensure they still reflect your wishes after major life events such as marriage, divorce, or the birth of a child. It's common for retirement accounts to have a beneficiary designation on file from when the account was opened, but it can be updated at any time. A beneficiary can also be assigned to non-retirement accounts by adding Transfer on Death instructions to the account. Here's some additional information on when you should update your Estate Strategy: https://www.coxglobalassociates.com/resource-center/estate/how-often-should-you-update-your-estate-strategy

Do I need a will?

A will directs how your assets are distributed after death, it can name guardians for minor children, and it helps simplify the probate process for your family. Without one, state law determines who inherits your assets, which may not reflect your wishes. Cox Global Associates works alongside clients' attorneys to help ensure account titling and beneficiary designations align with their overall estate plan. Here is a video we made to help you decide when it's right to create a will: https://www.coxglobalassociates.com/resource-center/estate/when-do-you-need-a-will