Patrick C. Dougherty, CFP®

Patrick Dougherty, a CERTIFIED FINANCIAL PLANNER professional, serves as an Osaic Institutions Financial Advisor located at South Shore Bank. With more than 27 years of experience in the personal finance and investment management fields, he has a special knack for translating complex financial issues into understandable concepts. Working with both individuals and business owners, his goal is to create an action plan that pursues the clients' individual objectives.

Patrick's experience in the financial services space includes multiple roles held with large firms such as Fidelity Investments and Merrill Lynch, but also with a small startup. This collective exposure to all facets of the industry, from different vantage points, shaped Patrick's love for helping people plan for financial success. Planning is at the heart of everything Patrick does. The process is educational, collaborative, and continuous; your planning needs change as you age, so your plan needs to adjust and change over time too.

Through Osaic Institutions, Inc., Patrick holds FINRA registrations 7 and 66. Patrick received his Bachelor of Science in Business Administration from Saint Michael's College, where he played varsity hockey. 

Outside of the office, Patrick is committed to his physical health by exercising regularly, playing hockey, and serving as a hockey referee for youth and high school teams. He coached his daughters' soccer and lacrosse teams during their years as youth athletes. He formerly served on the Board of Directors of the Cystic Fibrosis Lifestyle Foundation, an organization that assists in providing avenues toward healthy and active lifestyles through recreation for those with Cystic Fibrosis.
 

Get to know Patrick through a short Q&A.

When should you meet with a Financial Advisor?

Patrick:

There is no better time than now, however certain life events may prompt the need for financial advice such as marriage, divorce, welcoming a new child, inherited money, retirement, college planning, concerns about investing, financial planning or simply someone is looking for a second opinion.

What should I expect at our first meeting?

Patrick:

It starts with a conversation. In the beginning of every new relationship, I'm listening to my clients 90% of the time and talking about 10%. I want to learn about my clients' goals (e.g., paying for college, retiring at a certain age, buying a vacation home) and concerns (e.g., stock market risk, outliving their money, not being able to afford their child's college). Once I have a better understanding of what's important to them, we work together to optimize the best financial plan for their future.

What are misconceptions about working with a financial advisor?

Patrick:

Some people may think you need a certain level of wealth or that we only deal with stocks. In reality, we work with clients across a broad range of asset levels (e.g., clients starting with several thousand dollars or those with tens of millions of dollars) and investment strategies.

What do you enjoy most about your job?

Patrick:

I love helping our clients develop a plan. Once they start to see the big picture, they get excited and more engaged in the planning process, and I absolutely love seeing that transformation.

How do you apply your wealth management experience to your own life?

Patrick:

The strategies I use for my family's financial success are similar to those I recommend for clients. I take advantage of tax-free investment options with my Roth IRA and Roth 401(k) as well as 529 college savings plans for my children. I've purchased enough life insurance to protect the most important things for my family, i.e., our house, future college tuitions and future lost income and retirement savings. I have a will, a durable power of attorney and a health care proxy. Additionally, I use a budget religiously to prevent overspending, which helps me to save for goals outside of my retirement accounts.