“Naples, Florida, seems to be the retired CEO capital of the world,” says Steve Merkel, a financial planner with Ciccarelli Advisory Services, which is based there.

Retired CEOs, like many high-net-worth retirees and corporate executives, often have portfolios heavily skewed toward a single company’s common stock, restricted stock, stock options, and so on. Such a concentrated portfolio leaves investors vulnerable to a mishap at one company that drives down the share price.

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