- What Is Private Banking?
Not everyone has the necessary wealth to access private banking. But for those who do, it augments and streamlines services for clients, offers exclusive perks and refers them to financial professionals who can address specific needs. Private banking is more… read more…
- Money Stress Is Linked to Poor Financial Wellness, Advisors Can Help
New research from T. Rowe Price shows that your level of financial stress can connect with your financial wellness. In fact, retirement plan participants who report stress related to debt are saving less for retirement than those who are not stressed. Let’s take a look at how money stress can be a sign of poor… read more…
- Fidelity Launches 2 New Ways to Invest in Alternative Assets, But There’s a Catch
Investors looking to diversify their portfolios with alternative investments have two new options courtesy of Fidelity. The financial services giant is expanding its lineup of alternative investment products with the launch of two liquid alternative mutual funds that will invest in both traditional and non-traditional asset classes. The funds, known as “liquid alts,” will rely… read more…
- Ask An Advisor: When Should I Take My First RMD?
Can I avoid getting hit with double taxes on my first two required minimum distributions (RMDs)? I’ll turn 73 in January 2024. Do I have until April 1 2024 to take my first RMD? Or do I have until April 2025? I don’t want to take my first set of RMDs in April and take… read more…
- What Is Transitory Inflation?
Transitory inflation is a term that gained wide circulation in 2021 as the initial impact of the COVID pandemic subsided and prices for many goods and services began rising steeply after several years of very low levels of inflation. Federal… read more…
- 6 Types of Savings Accounts: Which Is Best for You?
A savings account can be a good place to earn interest on your money while keeping it in an easy-to-access account. However, not every savings account is the same. Let’s compare different features from the most common types of savings accounts. A financial advisor could help you create a financial plan for your savings needs and… read more…
- What Happens to Interest Rates During a Recession?
A shrinking economy can affect you financially on a number of levels. One big question you might have is what happens to interest rates during a recession? Ordinarily, interest rates dip in the early stages of a recession in order… read more…
- Robo-Advisors vs. Financial Advisors
The world of investing is vast and complex. But technology has advanced to the point of automating many facets of your financial life. Robo-advisors can now take your financial preferences and put your money in the market according to investment… read more…
- Got a Succession Plan? Advisor M&A Deals Hit New Record
Despite market volatility and geopolitical instability in the first half of 2022, wealth management firms closed a record number of merger and acquisition (M&A) deals, according to a report from Echelon Partners. Registered investment advisor (RIA) deals have ticked upward… read more…
- All About the Stepped-Up Basis Loophole
Stepped-up basis is a tax provision that allows heirs to reduce their capital gains taxes. When someone inherits property and investments, the IRS resets the market value of these assets to their value on the date of the original owner’s… read more…
- What Is Asset-Based Long-Term Care?
Asset-based long-term care (LTC) is a financial strategy that combines traditional long-term care insurance with asset-based products like life insurance or annuities. These plans allow individuals to leverage their savings to fund potential long-term care needs while maintaining flexibility in how funds are used. Asset-based LTC solutions often provide a death benefit if care isn’t… read more…
- How Much Money Do You Lose by Going With Cash Instead of Bonds?
Investors holding cash and waiting for interest rates to rise before buying bonds may be making a significant mistake. With the Federal Reserve poised to keep interest rates near zero for at least another year, investors should consider purchasing short-term… read more…
- Will These FINRA Oversight Changes Protect Investors From Brokers?
The Government Accountability Office (GAO) has called on the Securities and Exchange Commission (SEC) to make oversight changes to the Financial Industry Regulatory Authority (FINRA), which writes and enforces rules that govern the ethics of registered brokers and firms. The GAO wants the SEC to develop FINRA and Securities Industry Oversight (FSIO) performance measures to… read more…
- Do Financial Advisors Do Taxes?
Taxes can be among the most complex, confusing financial issues you face. From counting deductions to claiming tax credits, it’s easy to get lost in the forms to fill out, dense terminology and documentation needed. Fortunately, many financial advisors work specifically in taxes to help clients with these issues and more. They can answer your… read more…
- How to Invest $5 Million for Income
Investing a substantial sum like $5 million can be both exhilarating and daunting, especially when the primary goal is generating a steady income. Whether you’re planning for retirement, seeking financial independence or simply looking to diversify your portfolio, understanding how to strategically allocate this wealth is crucial. The key to success lies in balancing risk… read more…
- Ask An Advisor: What Should I Do With My Old Retirement Account?
I’m 60 years old and have a vested retirement account from a company for which I no longer work. Should I leave it there, or take it and invest it somewhere? I’m confused as to what to do with it. -Rose I’m so glad you submitted this question. It’s one that millions of savers are likely… read more…
- How Long Do Recessions Last?
An economic recession sends ripple effects across the economy. Although everyone feels the effects, most can only wait for sunnier economic times to appear. Knowing how long a recession can last can help you weather the storm. A financial advisor can guide… read more…
- Financial Planner Fees: What You’ll Pay
While many financial advisors focus on investments, some can also help you with holistic financial planning including planning for retirement, saving for a child’s college tuition, planning your estate and more. How much a financial planner charges will depend on… read more…
- Ask an Advisor: How Can I Maximize Growth and Minimize Taxes in Retirement?
Are there investment strategies that take into consideration growth and taxation post-retirement? – Julie One of the keys to maximizing growth and minimizing taxes in retirement is to pair the least tax-advantaged securities with the most tax-advantaged accounts. The point is to neutralize the immediate tax impact on your portfolio while still allowing for capital… read more…
- Does Your Financial Advisor Understand Crypto?
At the time of writing the cryptocurrency market was worth about $934 billion. This is down from a market cap of more than $3 trillion in late 2021. Despite the losses, that still makes cryptocurrency a very large market. The… read more…
- You’re More Likely to Have Guaranteed Retirement Income If You Do This
A new study by the financial services company Allianz says that a higher percentage of Americans working with financial advisors buy products that provide guaranteed sources of retirement income. That’s compared to folks who’ve never used a financial professional. The study also revealed that a higher percentage of individuals who work with financial advisors are… read more…
- ACCA vs. CPA Designations for Accountants
Accountants can pursue several different certificates and credentials to enhance their standing and display their knowledge. These programs may establish that you specialize in certain fields, such as tax preparation, or they may demonstrate overall mastery of your profession. Arguably the two most prestigious credentials that an accountant can pursue are the CPA (Certified Public… read more…
- Ask An Advisor: Can I Harness the Bear Market to Cut My RMDs and Tax Bill?
I am currently in a 12% tax bracket and attempting to convert as much money as I can to a Roth individual retirement account (IRA) without going into the next bracket. I am trying to do this to reduce my required minimum distributions (RMDs) when I reach 72. In doing so, I am also paying… read more…
- CFP vs. CMA: Designations for Financial Advisors
You can identify the specialization of a financial advisor through the certifications that they hold. When looking for a financial professional, understanding the key differences between a CFP and a CMA can help you figure out which is best suited… read more…
- CPWA vs. CFP: Designations for Financial Advisors
When working with a financial advisor, their certification can help you quickly determine what kind of advisor they are. Although there is usually some overlap between what a CPWA and a CFP can do, understanding the key differences between both… read more…