News

14
Sep

Reg BI: What Is It, and Why Should You Care?

On June 30, 2020, Regulation Best Interest, or Reg BI for short, officially went into effect. But what is Reg BI, exactly? Where did it come from, and how does it impact you, the investor? Here’s what to know about the new rule under the Securities and Exchange Commission (SEC).

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7
Sep

The CARES Act and RMD: Relief for Investors

The CARES Act (The Coronavirus Aid, Relief, and Economic Security Act) contains the legislation for Required Minimum Distributions (RMD) for those over age 70 ½ and have already started RMD. Under the CARES Act, no RMD is required for individuals or beneficiaries of inherited retirement accounts in 2020 due to COVID-19. How will this help investors?

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27
Sep

The Legitimate Value of Financial Advice

The financial advice industry has changed for advisors with a fiduciary financial planning emphasis in their practice.  These advisors have chosen process over product for the benefit of their clients. Additionally, new regulations, technology-enabled efficiencies, and fee compressions will continue to influence the advice industry. They could ultimately lead to higher client satisfaction and asset growth through relationship management.  No longer is relationship management considered merely customer service; it has evolved into a crucial element of each client’s experience.

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27
Sep

Tax Planning and Your Investments

‘Tax planning’ is left to federally-authorized tax practitioners. They prepare tax returns and defend clients pursuing relief from federal agencies for their own tax payments. They also dispute tax payment errors. Financial advisors don’t provide tax advice. They provide information on the tax consequences of specific investments they sell or recommend to clients. This type of advice is within the scope of financial planning. Some financial advisors are CPAs (Certified Public Accountants) or have the CFP (Certified Financial Planner) designation and can prepare tax returns for their clients.

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27
Sep

Ensuring a Worry-Free Rollover of Your Retirement Savings Assets

The average American worker stays at a job only 4.2 years. Many had funded retirement accounts they’ve left with the employer’s plan custodian when they moved to a new job. Leaving retirement savings at multiple employers can create higher investment costs to keep the account in former employer plans or create an inconvenience to maintain and rebalance. 

This drawback may lead investors to consider rolling over their retirement savings plans or other investments to another advisor to manage or to a new fund custodian. Many times your new advisor will assist you with the transfer paperwork, but what can you do before completing the Transfer Initiation Form (TIF) to understand the process and help ensure a ‘worry-free rollover’?

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27
Sep

Do You Know Life Insurance Isn’t Just for Death Protection?

When most people think about life insurance, what usually comes to mind is settling final expenses and providing financial support for your loved ones or death protection.  That is what life insurance is commonly used for, but there are other benefits of life insurance other than for death protection:

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27
Sep

Is A Fixed Income Annuity Right for You?

In today’s low-interest-rate environment, there are fewer fixed income alternatives for retirees seeking income. With rates on traditional staples such as CDs and money market accounts at or near all-time lows. Fixed-income annuities are an alternative to consider for retirees seeking income and safety. The issuing insurance companies back the claims-paying ability of all annuities. Once thought of as only a standalone retirement income solution, a fixed-income annuity is now commonly recognized as one of many components of a retirement portfolio.  

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27
Sep

Financial Interdependence: A New Way of Defining Adulthood?

Early adulthood is assumed to be a time of becoming financially independent. But an October 2018 study conducted by Agewave reveals that many adults ages 18-34 are not economically independent despite their adulthood. Many still rely on the financial support of their parents or extended family. The study reveals complex reasons leading to financial interdependence; something not experienced by earlier generations:

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27
Sep

Media Hype Exposure: Limit During a Recessionary Period

Keeping yourself removed from recent media reports on, stock market performance, political issues, and other ‘news-worthy’ stories might be best. Media hype exposure can negatively impact the American public and their investment decisions. During the last recession, the media’s reporting caused widespread panic as millions of Americans. Many chose to liquidate their accounts out of fear of ‘losing their money.’

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27
Sep

Wealth Preservation in America: Portfolios Including Alternative Investments

Many Americans re-examined how and why they were investing and their wealth preservation strategy after the financial crisis. Investors who had all of their wealth tied to the stock market fared worse than those who had alternative investments not tied to the stock market. This was unfortunate for investors who needed to liquidate their investments during a low-valuation period. However, there were investors, the High Net worth (HNW) investors, which fared better than the others.

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