Your Chevron Benefits & Career: Financial Planning for Employees and Executives

By  Brian Thorp

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Do you work at Chevron? Get the resources you need and expert insights from financial professionals who specialize in helping Chevron employees make the most of their compensation package and benefits.

Whether you’re a new Chevron employee or you’ve moved up the ranks into a management or executive leadership role over a multi-year career, it’s important to make smart money moves with your income and employee benefits. For example:

✅ Do you know the right moves to make to get the greatest value from the Chevron benefits available to you?

✅If you’re thinking about leaving Chevron for another job or planning to retire from the company in a few years, are you taking the right steps today to ensure you will receive all of the compensation and benefits that you’ve earned?

Get the Most Value from Your Chevron Benefits and Compensation Package

Throughout the year, Chevron provides its employees and executives with updates about their benefits ranging from health insurance and health savings plans to retirement plans like a 401(k), deferred compensation plans, and stock options. While the company offers many useful resources and access to knowledgeable staff who can assist with questions, you’ll also find financial professionals not affiliated with Chevron who specialize in helping Chevron employees make the most of their income and benefits.

Whether you work in the Chevron headquarters in San Ramon, California, its growing campus in Houston, Texas, another office location around the country, or remotely from home, you may have questions about your compensation package and benefits better suited for a financial professional who can offer unbiased advice and guidance.

For example, sensitive topics like discussing the steps you should take before quitting your job at Chevron to work elsewhere, protecting yourself in advance of a corporate layoff, or deciding when you should plan to retire are all conversations that may be more comfortable with a trusted financial advisor.

Should you hire a Chevron specialist financial advisor or an advisor close to home?

You’ll likely find dozens of nearby financial advisors well-suited to help you reach your money goals with a personalized plan. But it may be more difficult to find a financial advisor who specializes in serving Chevron employees.

Fortunately, many financial advisors offer virtual services so you can meet online no matter where you (or they) live.

This means you can choose to hire a specialist financial advisor who lives hundreds of miles away if you decide their knowledge and experience working with Chevron employees is a better fit to help with your unique needs.

💡 In the Q&A below, you’ll gain insights from financial advisors who work with Chevron employees to help them make smart decisions to get the most value from their compensation and benefits, reduce their money stress, and prepare for a comfortable retirement.

🙋‍♀️ Do you have questions not yet answered? Use the form below to submit questions anonymously and watch this article for updates with answers to your questions. You can also reach out to the financial advisors below to set up an introductory call or contact them with your questions by email.

💸 Smart Money Insights for Chevron Employees & Executives

This page is organized into sections to help you quickly find the information you need and get answers to your questions:

  1. Q&A: Financial Planning Tips for Chevron Employees & Executives
  2. Get Answers to Your Questions About Your Chevron Benefits and Career
  3. Quick Facts & Resources for Chevron Employees
  4. Browse Related Articles

Q&A: Financial Planning Tips for Chevron Employees & Executives

Three Questions with Rob Lloyd, CFA

Rob Lloyd is a financial advisor based in The Woodlands, Texas, who specializes in offering financial planning services to Chevron employees. Rob helps his clients get the most value from their Chevron benefits and compensation package so they can enjoy life and feel confident about their financial future.

Q: As a financial advisor with experience helping Chevron employees save for their retirement, how do you help them make the most of their employee benefits?

Rob: We start by listening to you describe your current situation. You have had a unique career path and worked hard for your benefits package at Chevron. Our familiarity with the tax code, investment environment, and your situation allow us to suggest steps that will maximize your benefits as you approach a transition or retirement. 

For example, did you know that if you contribute after-tax dollars to your 401k plan, those investments can be separated into a Roth IRA when you roll your Chevron 401k into an outside IRA? Roth IRA investment gains are exempt from Federal taxation under the current law making them one of the most tax-efficient types of investment account.

Strategies to maximize your employee benefits differ from person to person. While the 401k and health plan may be well understood, there are nuances to using these tools.

Q: When you first speak with a Chevron employee, what questions do you like to ask to better understand their unique circumstances and determine how you can best help them achieve their goals?

Rob: The questions we ask at our first meeting are no different what you would hear at a barbeque: What is your role at Chevron? Where are you from initially? What are your hobbies? Tell me about your family.

If you are interested in what a financial planner does, we are happy to explain how we help people: by collecting information on your situation, we forecast your spending and portfolio returns over long periods of time. This analysis uses state-of-the-art techniques and best-practice portfolio construction.

We can build you a basic financial plan without collecting sensitive information like birthdays and account numbers. Of course, we need some general information such as your age, marital status, income levels, spending levels, 401k balances, and anticipated retirement dates. Pulling this information into one report starts a very interesting discussion about when you can retire from Chevron and how much you can spend.

Get to Know Rob Lloyd, Financial Advisor for Chevron Employees:

View Rob’s profile page on Wealthtender or visit his website to learn more.

Q: For Chevron employees who have managed their finances on their own to this point, what would you suggest they consider to help them decide if they should begin working with a financial advisor at this stage in their lives?

Rob: Financial advisers seem completely unnecessary. After all, with index funds, discount brokers, and free internet news sites, investing and making money should be easy. For those who are financial professionals, this may be true, but even for the pros, investing is never easy.

Most of us use doctors when we are sick, auto mechanics when we have car trouble, lawyers when we have legal problems, or accountants when we have complex tax questions. Even though we recognize these professionals as subject experts, the financial professional is the one expert many try to live without. This can lead to expensive mistakes caused by lost opportunities or outright losses from bad investments.

In contrast, the wealthy almost always have an adviser, or in some cases, two advisers with different firms. For these investors, it is not a question of getting the lowest possible fee but finding a trustworthy person and firm that meets their needs. The adviser is paid to guide the wealthy investor through the myriad choices into something suitable for their unique family situation. A good adviser helps the investor avoid big mistakes by utilizing best practices in planning and portfolio management.

Q: What questions do you recommend Chevron employees ask financial advisors they’re considering hiring to help them decide if they’re a good fit?

Rob: I recommend Chevron employees ask these questions, grouped by category:

1. Experience – what is the age and work experience of the adviser?

·        How many total years has the adviser worked in the industry?

·        How many investment cycles has the adviser managed through?

·        Can the adviser relate to the needs of you, the client?

 2. Expertise – Does this investment professional have the right skill set?

·        Superior understanding of the characteristics, behavior, and risk of different investments.

·        Extensive understanding of retirement planning, the investment process, asset allocation, investment selection, and the practical steps of managing a portfolio.

·        Sensitivity to the financial, regulatory, tax, and legal implications of investment decisions.

 3. Credentials – what education and certifications does the adviser have that confirm an individual’s knowledge and expertise?

·        Education – college and graduate degrees with concentrations in finance, accounting, or economics. Top schools are a plus.

·        Professional designations such as the Chartered Financial Analyst (CFA), Certified Financial Planner (CFP) or Certified Investment Management Analyst (CIMA).

4. Financial planning and the investment process

·        Is a retirement plan prepared as part of the investment process?

·        Does the adviser provide estate and tax education with regard to accounts and general issues?

·        Are the advisory and investment fees fully disclosed?

·        Is the adviser a fiduciary?

5. Service level – how much contact should you expect with this adviser?

·        Number of meetings per year: annual, quarterly, monthly.

·        Responsiveness and ability to meet special requests.

·        Assistance with managing concentrated equity holdings.

Are you a financial advisor who specializes in working with employees at Chevron or another large company?

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Quick Facts & Resources for Chevron Employees

Chevron Quick Facts & ResourcesDetails / Useful Links
Chevron Corporate Headquarters Address6001 Bollinger Canyon Road San Ramon, CA 94583 (📍 Google Maps)
Overview of Chevron BenefitsVisit careers.chevron.com/benefits
How much do Chevron employees make?View Chevron Salary Research on Glassdoor
Where can I learn more about careers at Chevron?Visit Careers.Chevron.com
How many people work for Chevron?Chevron has over 42,000 employees worldwide (Source: Fortune)
What is the ticker symbol for Chevron stock?The Chevron ticker symbol is CVX.

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About the Author
Brian Thorp, Founder and CEO of Wealthtender profile picture

Brian Thorp

Founder and CEO, Wealthtender

Brian and his wife live in Texas, enjoying the diversity of Houston and the vibrancy of Austin.

With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress.

Connect with Brian on LinkedIn

Disclaimer: In order to make Wealthtender free for our readers, we earn money from advertisers including financial professionals and firms that pay to be featured on our platform. This creates a natural conflict of interest when we favor promotion of our clients over other professionals and firms not featured on Wealthtender. Learn how we operate with integrity to earn your trust.

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