Gardens Wealth Management, a team under Wells Fargo Advisors based in Palm Beach Gardens, FL, is led by senior members Michael J. Cowan, Russell Mahan, David Schnall, Adam Moldof, and Scott Wilson. With custodied assets totaling $3.1 billion, the team focuses primarily on retirees or those nearing retirement. Michael Cowan, the son of Cuban immigrants, initially considered becoming a priest before being persuaded to pursue a career in stock brokerage. He founded Gardens Wealth Management in 2009, and later partnered with Russell Mahan, who originally planned to become a lawyer but found his calling in retirement planning at Wells Fargo.
The team emphasizes communication and collaboration, hosting numerous events from December to April that are open to the community. Topics covered range from the power of rising dividends to end-of-life planning discussions. Gardens Wealth Management follows an investment philosophy that prioritizes known factors over unknown risks, with a focus on cash flow and rising dividends. By investing in stable, dividend-growing companies, the team aims to provide clients with confidence and security in their financial future. They also favor short-duration fixed income investments to minimize risk.
Looking ahead to 2025, Michael Cowan predicts more modest returns in the stock market compared to the past decade. He emphasizes the importance of collecting enough dividends and income to sustain retirees through market fluctuations. In a time of persistent inflation, Cowan believes that having a solid income plan in place is crucial for retirees to maintain their standard of living. He advises clients to work with a team that can monitor their cash flow and consistently adapt their financial strategies to meet changing needs.
Overall, Gardens Wealth Management provides a conservative approach to investing, with a focus on income generation and risk management. Despite uncertainties in the market, the team remains steadfast in their commitment to helping retirees achieve financial stability and peace of mind. By educating clients and prioritizing communication, Gardens Wealth Management aims to empower individuals to navigate the complexities of retirement planning and make informed decisions about their financial future. With a team of over 50 employees and offices across multiple states, Gardens Wealth Management continues to expand its reach and impact in the world of wealth management.
