- Fiduciary vs. Financial Advisor
When you’re looking for someone to guide you through the world of personal finance, there’s a lot of jargon you have to work through. Financial advisors and fiduciaries are just two of the titles you’re likely to come across, but… read more…
- J.P. Morgan Recommends This Guaranteed Funding Strategy to Cover Expenses
J.P. Morgan Asset Management wants you to rethink how you will pay for retirement. The multinational investment bank says retirement investors should secure enough guaranteed income from pensions, annuities and Social Security to pay for basic living expenses. These include housing, food, healthcare, property taxes, cellphone and internet service, as well as any other stable… read more…
- Should You Work With a Tax Advisor?
Most Americans have very simple tax needs. Their employer handles biweekly withholding, then every April they file for a refund or payment based on their appropriate standard deduction. However, depending on how you manage your investment portfolio, things can get a little more complex than that. If you have significant investments or other forms of income,… read more…
- Understanding Financial Risk Management
Financial risk, which is the probability of financial loss, can arise in numerous business and investment scenarios. For instance, a business can’t launch a product or service without taking on risk. However, risk also opens up opportunities in other areas of a given space. In portfolio management, there’s usually a direct correlation between risk and rewards.… read more…
- The Secret to More Peace of Mind With Your Investments
When it comes to working with an advisor to help manage your finances, there are lots of options at your disposal. Robo-advisors, for instance, are a very popular option when it comes to getting financial advice. They are often cheaper than human advisors. However, despite the benefits of using a robo-advisor, a new Vanguard study… read more…
- If Your Portfolio is Struggling, This Might Be the Culprit
Between inflation, rising interest rates and the war in Ukraine, 2022 has not been kind to investors. If you’re looking to make changes to your portfolio as volatility continues to plague markets, an international investment firm says small-cap stocks, especially those with high valuations and little or no profits, may be dragging down your overall… read more…
- This Bill Could Give You a $60,000 Tax Deduction
Americans who rely on the state and local tax (SALT) deduction at tax time may be in luck. A Democratic proposal aims to restore the SALT deduction for taxpayers who make less than $400,000 a year and increase the deduction cap for Americans who make up to $1 million. The Supporting Americans with Lower Taxes… read more…
- Want to Achieve Financial Wellness? Millennials and Gen Z-ers Should Avoid These Mistakes
While markets have boomed over the past 10 years, a recent study by PricewaterhouseCoopers shows that Millennials and Gen Z-ers have been experiencing considerable financial strain. This includes significant decreases in household income as well as difficulties paying for household expenses. As a result, people are turning to less-than-ideal methods of making ends meet, such… read more…
- Is My Financial Advisor a Fiduciary?
Before committing to a financial advisor, it helps to know whether that professional is a fiduciary. Fiduciaries must act in a client’s best interest at all times, while brokers follow a separate standard under Regulation Best Interest, which applies only when making specific recommendations. While the titles may sound interchangeable, they reflect different legal standards… read more…
- The Minimum Investment for a Financial Advisor
For some, working with a financial advisor may connote having pockets deep enough to meet with an expert in a mahogany-paneled office. But you don’t always need to be wealthy to benefit from financial advising. There are many types of… read more…
- Do I Need a Financial Planner?
A financial planner can be a powerful force for good, helping you set and reach financial goals. But do you really need a financial planner? Many people forgo the option of working with a financial planner in favor of doing research on their own, setting their own goals and managing their own finances. That means… read more…
- Is a CFP® a Fiduciary?
The financial advisory industry comprises a multitude of professionals, services and products. But when it comes to financial planning, advisors who hold the Certified Financial Planner (CFP) designation are the gold standard. These financial advisors must go through a rigorous… read more…
- CPA vs. Financial Advisor: Which Do You Need?
A certified public accountant (CPA) can help you minimize taxes, while a financial advisor can help you invest and grow your wealth. A CPA is one type of finance professional who focuses on tax issues and proper accounting procedures. There are other professional designations for financial advisors depending on their specialty. Some advisors are generalists… read more…
- How to Find a Certified Financial Planner (CFP)
With so many online resources to choose from, finding a financial advisor has become easier. However, there’s a lot to sift through when it comes to picking one. Every financial advisor tends to have different types of certifications, such as certified… read more…
- The 6 Best Personal Finance Courses of 2022
Financial literacy consists of having the knowledge and skills to effectively manage your personal finances. It’s a basic requirement for success in today’s world, and yet one of the least-addressed by most people’s formal education. SmartAsset has looked at the available personal finance courses for 2022 and identified some of the best in terms of… read more…
- Should You Work With a Real Estate Advisor?
Real estate advisors provide research, analysis, planning, strategy and management input when evaluating, acquiring, selling, developing, improving and financing the real estate portion of an investment portfolio. Because real estate investing can be so high-stakes, the services of one of… read more…
- Estate Planning Financial Advisor
An estate plan is a set of documents describing the way you want your assets to be distributed when you die or become incapacitated. Along with retirement planning, managing risk and investments, an estate plan is a basic part of a full financial plan. Financial advisors help clients prepare estate plans by working with them… read more…
- Average Net Worth By Age
Net worth is a financial metric that can help you keep your individual picture of your finances in perspective. The average net worth by age, in this case, refers to the net worth of the households in the U.S. divided… read more…
- 3 Reasons DIY Investors Should Consider Working With a Financial Advisor
The COVID-19 pandemic gave rise to a new wave of investors — who suddenly have more time and money on their hands, thanks to lockdowns and stimulus checks. The DIY investors have taken advantage of low trading fees and account minimums on relatively new platforms like Robinhood. In fact, a recent survey of 2,000 American… read more…
- How Much Do Flat-Fee Financial Advisors Cost?
Financial advisors charge fees for their services. Depending on how the advisor gets paid, you may pay fees directly to them or indirectly through the investments they offer. Flat-fee financial advisors earn a flat fee for services instead of getting a commission or a percent of assets under management (AUM). Let’s break down how much it… read more…
- This Simple Step Makes It Way More Likely You’ll Meet Your Retirement Goals
Saving for retirement isn’t easy. How much cash will you need in your coffers once you exit the workforce? How much from each paycheck should you put toward retirement, and how aggressive should your asset allocation be? Trying to make all those often overwhelming decisions as you fly by the seat of your pants can… read more…
- How Fee-Only Wealth Management Works
Financial advisors who are wealth management experts can earn fees in different ways. Fee-only wealth management firms charge clients a flat fee for services with no commissions. Clients pay for financial planning and investment management services. These firms have a pricing structure based on both advisory fees and commission on products, and they may be… read more…
- If You’re Using This Common Investing Tactic, You’re Almost Certain to Fail
After a particularly strong 2021, the three major stock market indexes have gotten off to a rocky start in 2022. While the S&P 500 and Dow Jones Industrial Average are down 5.92% and 3.43% this year, respectively, the Nasdaq Composite Index has dropped more than 10% in 2022. The recent volatility may have some investors… read more…
- Are Insurance Agents Fiduciaries? Federal Lawsuit Aims to Vacate This Controversial Rule
A federal lawsuit seeks to vacate a U.S. Department of Labor rule under which insurance agents who help clients roll over retirement assets are considered fiduciaries. The Federation of Americans for Consumer Choice, an insurance trade organization, filed a 21-page complaint on Wednesday alongside several Texas-based financial advisors who direct clients regarding the purchase of… read more…
- Ask an Advisor: Do I Really Need a Trust?
I retired a few years ago and have a will and power of attorney, a reasonably good-sized net worth, mutual funds, annuities, cash, a home with no mortgage and a long-term health policy. I’ve read about trusts, but I’m still not clear on the pluses and minuses of setting one up. Why is that better… read more…