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Fred Hackney expands firm — to New Jersey

BRENT WORONOFF

CONTRIBUTING WRITER

Hackney and Associates has been helping Palm Coast residents navigate their retirement since the mid ’90s. Now at an age when many people are contemplating their own retirement, Fred Hackney is expanding his business.

Hackney is opening a second office in Newark, New Jersey, on July 15.

“I’m 66 years old and most guys are thinking about retiring, but I’m too busy and I enjoy what I’m doing, and I’ve got too many people that depend on me,” he said.

Hackney, who moved to Palm Coast in 1994, had been a stockbroker for 20 years with several Wall Street firms before deciding in 1997 to move all of his clients out of the stock market because he didn’t want them losing money.

His hunch proved prescient as his clients were able to avoid the volatility of the market starting with the tech bubble bursting in 2000, followed by 9/11 and then the 2008 financial crisis.

In 2010, Hackney got involved with the Portuguese community in Palm Coast through Ivone and Fernando Carneiro, who own Palm Coast Signs. Hackney joined the Portuguese American Cultural Center of Palm Coast and became a sponsor for many of its events. Through his contacts in Palm Coast, he was able to expand his business.

“(There are) so many people that are from New Jersey who live in Florida, and they have relatives up there,” Hackney said “I got involved with the four labor unions up there to help their members when they retire and make sure their money is protected and their estates are protected when they pass away and make sure their children and spouses don’t have a loss of assets or income.”

Hackney had planned to open his New Jersey office last year before the pandemic hit. One year later, he’s ready to open his office doors at 401 Chestnut St. in Newark.

“I hired a full staff that speaks English, Spanish and Portuguese,” he said. “And I’ve got a lot of business coming up there because they need somebody to help them. Most of my business concentrates on the retiring and retired union members in the Newark area where about 40% of their population is of Portuguese descent. I mostly do the 401(k) rollovers when they retire so they don’t lose any money. I also (work with) attorneys up there that can do all their estate planning work. And then I have disability attorneys to help them get their disability benefits.”

Hackney is planning on spending one week a month in New Jersey to oversee the operations there. But he won’t be ignoring his Palm Coast office. Next year he is planning on building a new office in The Hammock.

“I don’t want to spread myself too thin, because everyone now is in home consultation, but I’m getting too busy for that, and it puts me on the road a lot,” he said. “So I’m going to build a new office in The Hammock on AIA.”

Hackney is opening a second office in Newark, New Jersey, on July 15.

BRIEFS

New homes planned for 8-acre Hammock Dunes parcel

Up to 33 new homes may be constructed on a 7.96-acre parcel at the corner of Hammock Dunes Parkway and Camino Del Mar Parkway.

The homes would be part of the Renaissance at Hammock Dunes Planned Unit Development, and the Flagler County Commission at its July 12 meeting voted 4-0 to approve the developer’s proposed site development plan.

Courtesy photo The homes would be part of the Renaissance at Hammock Dunes Planned Unit Development.

Renner cautions against seeking legislative remedies to Surfside collapse

As the investigation continues into the deadly condominium collapse in Surfside, a top Republican Florida House leader said Monday, July 12, that lawmakers don’t need to make immediate changes to state building codes.

Rep. Paul Renner, a Palm Coast Republican set to take over as House speaker following the 2022 elections, pointed to the inability of the Champlain Towers South condo association to quickly address safety and structural repairs needed for the once 12-story building.

“It will be something I assure you that we’re going to look at and address and determine whether the solutions are legislative or whether they’re an issue of basically a breach of fiduciary duty on the part of the (condo association) board members,” Renner said during a video conference with reporters Monday. “In the case that occurred in Surfside, where there was known these issues that were looming, and the decision — it appears from initial reports — not to move forward with an assessment to fix it. Obviously, every board member of every entity has a fiduciary duty. And so we’ll take a look at that.”

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