- CIMA vs. CFP Designations for Financial Advisors
Financial advisors can hold a range of certifications and licenses. Two such designations are CIMA (certified investment management analyst) and CFP (certified financial planner). The CIMA is intended for those who help people manage their investments, while the CFP is a much broader certification covering all aspects of personal finance. However, a CFP may also specialize… read more…
- I Have $30,000 to Invest. Will a Financial Advisor Work With Me?
I am a retired veteran with no retirement accounts and I want to start investing with $30,000. I’d like some investing advice, but I’m finding advisors have minimum investment requirements, and I’m hesitant to work with a robo-advisor. Can you… read more…
- RICP vs. CFP®: Comparing Designations for Financial Advisors
The retirement income certified professional (RICP) and Certified Financial Planner™ (CFP®) are two certifications for financial advisors. There are several ways in which they differ, in terms of training and professional focus. Being aware of those differences can help you determine which may better serve your specific needs. Try speaking with a financial advisor today… read more…
- AIF vs. CFP Designations for Financial Advisors
Financial planning can be complex, but the benefits of a well-thought-out plan are invaluable. Fortunately, the financial industry offers a wide array of professionals and certifications to help individuals and businesses define and achieve their goals. Among the most recognized credentials in financial planning are the Certified Financial Planner™ (CFP®) and the Accredited Investment Fiduciary… read more…
- How to Become a Financial Advisor in California
Being a financial advisor can be a career that helps people achieve their financial goals. And you’ll learn facts that will improve your own finances, too. To become a financial advisor, every state may have its own slightly different requirements to sell securities or recommend investments. Financial advisors in California must satisfy education, examination, experience… read more…
- Recession vs. Depression: Key Differences
When an economic storm rolls in, you might wonder if the economy has hit a recession or depression. Although both indicate difficult economic downturns, the causes and effects of each vary. Let’s take a closer look at the key differences between a recession and depression. If you need help navigating through economic downturns, a financial advisor… read more…
- How Much Does a CFP Make?
Earnings estimates for financial advisors holding the Certified Financial Planner (CFP) designation produce figures from less than $50,000 a year to nearly $325,000. The range reflects the impact of experience, geography, industry and other factors on CFP earning ability. It also depends to a considerable degree on the source of the estimate. The most reliable… read more…
- How to Become a Financial Advisor Without a Degree
Becoming a financial advisor without a degree is possible, as the field offers multiple pathways that don’t always require formal education. While many financial advisors hold degrees in fields like finance or economics, it’s not a strict requirement. Some advisors succeed by earning certifications, gaining relevant work experience, and building skills in client relations and… read more…
- How to Become a Financial Advisor in Texas
Becoming a financial advisor can be a lucrative career where you help people reach their financial goals. In order to become a financial advisor, there are specific steps that you must take in order to begin this career. Each state… read more…
- How to Prepare for a Financial Emergency
Americans are notoriously unprepared for a financial emergency, with fewer than half – according to some studies – able to afford an unexpected $1,000 expense. That’s an improvement from previous years, when most Americans didn’t have the savings to cover $400. But this still leaves most households vulnerable to a financial emergency. The good news is… read more…
- Differences Between Cost of Living and Inflation
Inflation measures how prices change for goods and services. When inflation is positive, or greater than 0.0, it means that prices have gone up for the same products or services. Cost of living measures what you pay to maintain an overall lifestyle. Inflation can cause your cost of living to increase through increased costs of… read more…
- How to Get Emergency Cash Without Wrecking Your Financial Plan
Financial emergencies can catch you off guard. You can’t budget for an unexpected legal crisis, a loved one suddenly needing costly medical treatment or getting blind-sided with a layoff. Handled incorrectly, raising emergency cash to respond to something unplanned but… read more…
- How to Become a Financial Advisor in Florida
If you’re looking for a career path that allows you to help people grow their wealth and navigate difficult life decisions, becoming a financial advisor could be a fit for you. Additionally, working as a financial advisor could be well within reach if you want a career change. Financial advisors in Florida must satisfy examination… read more…
- Questions to Ask Your Financial Advisor During an Annual Review
Regularly meeting with a financial advisor can help you maximize your money and keep on top of your long-term financial goals. Financial advisors can help you save more, reduce your debt and invest more wisely. Experts recommend speaking with your advisor… read more…
- Should I Use a Financial Advisor or Do It Myself?
Some financial situations can be handled on your own, while others are best navigated in consultation with an advisor. Ultimately, the decision to work with a financial advisor or go it alone depends on a litany of factors, including your… read more…
- Ask an Advisor: I’m Way Behind on Retirement Savings. What Do I Do?
I turn 58 this year and am at a loss for what to do or how to plan for my retirement. I only have a small amount of money invested through previous employers, and I’m not sure how to save now that I am self-employed. I am really concerned about my retirement but don’t know… read more…
- Here’s Why Retirees Are Sticking With Workplace Retirement Plans
Retirees are staying in defined-contribution (DC) plans long after retirement, according to T. Rowe Price. DC plans are typically tax-advantaged accounts, such as 401(k)s and 403(b)s, offered by employers. Advisors should understand why employees stay invested in these accounts years… read more…
- 10 Asset Protection Strategies
Asset protection strategies can protect investors, professionals, business owners and those with significant assets from loss due to lawsuits, creditor claims and other risks. This often involves moving assets from the owner’s personal control into various legal entities in order… read more…
- What Is Guaranteed Asset Protection (GAP)?
Guaranteed asset protection (GAP) is a type of insurance or, sometimes, a non-insurance agreement that will cover the difference between a vehicle’s actual market value and the amount owed on the loan in the event the vehicle is stolen or totaled in a crash. GAP is relatively inexpensive and can protect people who finance or… read more…
- Advice-Only Financial Advisor: Services and Fees
Financial advisors are people and services that help you create a plan for meeting your financial goals and manage it along the way. With the help of a financial advisor, you could reduce your debt, save more and invest in ways that might not have been possible if you did it on your own. However,… read more…
- Short-Term Financial Goals
Financial planning advice typically focuses on long-term goals like saving for your children’s education, building a retirement fund and estate planning. But depending on your financial situation, you may need to set short-term goals to reach those financial plan milestones.… read more…
- Is This Financial Certification Still Valuable?
The chartered financial analyst (CFA) is a certification for financial professionals demonstrating expertise in topics such as equity investments, financial statements and wealth planning. A famously hard-to-achieve credential, it carries clout in the financial services industry. But recently, fewer applicants are sitting for the CFA Level 1 exam. This may lead some professionals and investors… read more…
- How Increased Government Spending Affects Inflation
An increase in government spending is one of the factors that economists say can drive inflation. Other factors include interest rates, monetary policy, supply chain disruptions and fluctuations in demand for goods and services. Inflation can be an important consideration for investing, saving and borrowing. Let’s examine how increased government spending can affect inflation. Consulting… read more…
- How to Protect Your Assets From a Divorce
Combining finances after marriage can simplify things like paying bills and saving. But sharing commingled assets can lead to complications if you later end up divorcing. Establishing a prenuptial agreement can help you to head off tricky financial arguments if… read more…
- How Does Raising Interest Rates Help Curb Inflation?
The Federal Reserve has raised interest rates in 2022 after more than two years of keeping rates steady, at a very low level. The Fed increased the interest rate by 0.5% in March 2022 and by another 0.5% in May 2022 to cool the economy and bring inflation under control. This raises the question: How… read more…