Oaktree Financial Advisors, Inc.

This week marks an important and meaningful milestone in my career. After six successful years as an advisor at another firm, my daughter, Ellie Baker, CFP®, has joined Oaktree Financial Advisors.

I am exceptionally proud of the professional Ellie has become and the reputation she has built through her dedication, integrity, and commitment to clients. It is an honor to welcome her to our team, and I look forward to the valuable perspective and expertise she will bring.

Chris Baker, CFP®

Our clients' trust means the world to us, and we take it seriously. It's our privilege to take care of our clients!

Grateful for our clients' trust.

I'm honored to be recognized on the Forbes 2025 Best-in-State Wealth Advisors list. This achievement reflects the incredible support of the Oaktree team — thank you for everything you do. Most importantly, I'm deeply grateful to my clients for their continued trust. I remain dedicated to helping them navigate their financial journeys with clarity, confidence, and care. Chris Baker

Uncertain times in the market call for deep expertise. These Commonwealth advisors have made the cut, appearing on the Forbes America’s Top Wealth Advisors and Best-In-State Wealth Advisors list for their ability to manage through volatility and help clients achieve financial well-being. It’s a pleasure to celebrate the talent and tenacity of the Commonwealth community—and it’s always a proud moment to see our advisors shine. 👏 *2025 Forbes Best-In-State Wealth Advisors, created by SHOOK Research. Presented in April 2025 based on data gathered from June 2023 to June 2024. Not indicative of advisor’s future performance. Your experience may vary. For more information, visit https://bit.ly/4jJRCAR. #commonwealth #wealthmanagement #financialadvisor MOR Wealth Management Cary Stamp & Company LPSC Financial Oak Leaf Wealth Management Bartholomew & Company The Blanchette Financial Group, Inc. Back Cove Financial Infinitas, LLC Premier Private Wealth McCarthy & Cox Retirement & Estate Specialists LLC Midwest Financial Group, Inc. Dignum Financial Partners Pegasus Capital Management LifeTime Asset Management Gottfried & Somberg Wealth Management, LLC Summit Wealth Group Hosler Wealth Management Cypress Wealth Management How To Retire with Sarah Kaplan King Financial Network Strategic Retirement Plans Global Wealth Advisors Riverstone Wealth Partners OakWood Financial Services Chicago Oakbrook Financial Group CalmWater Financial Group Pickler Wealth Advisors Pradel Financial Group Tupler Financial Pratt Wealth Management The Nvest Group United Iowa Financial Armstrong Fleming & Moore, Inc. Schmocker Financial Services Odyssey Group Wealth Advisors Thorley Wealth Management, Inc. Pathfinder Wealth Consulting Blueprint Wealth Advisors, LLC Williams Asset Management

2024 Tax filing season is in full swing! Here is our updated Tax Facts with tons of great 2023 and 2024 information.

https://static.fmgsuite.com/media/documents/3c085066-b9eb-4671-93dd-ffc40e77f758.pdf

Are you taking full advantage of your workplace benefits? Are health savings accounts (HSAs), 401(k)s, disability insurance, and flexible spending accounts (FSAs) offered by your workplace?

Here's a quick breakdown:

HSA: Triple tax-advantaged account for qualified medical expenses. Your contributions are pre-tax and grow tax-deferred, and withdrawals for qualified expenses are tax-free. If you spend your HSA funds on non-qualified expenses before age 65, you may be required to pay ordinary income tax and a 20% penalty. After age 65, you may be required to pay ordinary income taxes on HSA funds used for non-qualified expenses. HSA contributions are exempt from federal income tax; however, they are not exempt from state taxes in certain states.

401(k): Retirement savings plan with pre-tax contributions and potential employer matching. We can help individuals determine a contribution amount that fits their situation. Once you turn 73, you must take the required minimum distributions from your 401(k). Withdrawals are taxed as ordinary income and may be subject to a 10% federal income tax penalty if taken before age 59½.

Disability Insurance: Income replacement if unable to work due to illness or injury—a safety net designed to help you and your family. Disability obligations are dependent on the issuing company’s ability to make claim payments.

FSA: A way to use pre-tax dollars for eligible healthcare and dependent care expenses. Unlike an HSA account, you may have to spend your FSA funds before year-end, adhering to the “use it or lose it” rule. There are some exceptions.

Don't miss out on these valuable resources! Understanding and maximizing your benefits can help your financial situation.

Need help navigating your workplace benefits? Let's connect. We might be able to offer some insights and help create a personalized strategy aligned with your financial goals. 🤝

The alarming rise in elder financial exploitation (EFE) is reaching new heights, with adults aged 60 and over reporting more than $1.6 billion in losses per year due to scams, according to the Federal Trade Commission.

What's even more concerning is the increasing sophistication of scams fueled by artificial intelligence (AI). 🤖

Scammers are now using AI-generated voices and deep fake videos to impersonate loved ones, government officials, and even celebrities, making distinguishing reality from fiction more challenging than ever.

The Financial Crimes Enforcement Network (“FinCEN”) released its Financial Trend Analysis in April 2024. It focused on patterns and trends identified in Bank Secrecy Act (“BSA”) data linked to Elder Financial Exploitation (“EFE”).

Key findings include:

▪️ Banks filed 72% of all EFE-related filings.
▪️ 80% of EFE-related filings involve transferring money to a stranger for a promised benefit that the older adult does not receive.
▪️ 20% of EFE-related BSA filings involve theft, where a trusted person steals from an older adult. Unfortunately, 40% of elder theft reports named the elder adult’s children as the perpetrators.
▪️ Perpetrators mostly rely on approaches that minimize direct contact with bank employees, including previously compromised usernames and passwords, guessing passwords, or phishing emails that elicit replies containing sensitive information.

We all have a role in helping protect our seniors from financial exploitation.

Be sure to take proactive steps to help educate and protect your loved ones.

Ed Snyder's comments were included in a recent Financial Planning article about serving a specific niche of clients.

With the Summer Olympics in full swing, it's hard not to be inspired by the athletes' dedication and preparation. 🏊‍♂️🏆

Just like swimming legend Mark Spitz, who famously said, "If you fail to prepare, you're prepared to fail," success in any field–including finances—requires preparation!

Don't be a spectator in your financial future. Now is the time to strategize and equip yourself with the knowledge and tools you need to pursue your goals.

A little preparation today can help you tomorrow!