- 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…
- CRPC vs. CFP: Designations for Financial Advisors
Chartered Retirement Planning Counselor (CRPC) and Certified Financial Planner (CFP) are two common professional designations that many financial hold. The requirements for the CFP are more difficult to complete. A CFP will generally understand a broad range of financial matters,… read more…
- CPFA vs. CFP: Designations for Financial Advisors
Certified Plan Fiduciary Advisor (CPFA) and Certified Financial Planner (CFP) are two common types of credentials that financial advisors earn. Of the two, CFP requires significantly more education and experience. CPFAs primarily advise employer-sponsored retirement plans. CFPs have a more… read more…
- CFP vs. Series 7: Differences and When You Need Each
The CFP® and Series 7 are two designations you might see in the finance industry that are held by financial advisors. However, the CFP and Series 7 are used for different purposes. A series 7 allows you to sell investment products and securities, while a CFP establishes expertise in financial planning. I fyou need help… read more…
- How to Donate Cryptocurrencies
Today, not only do people worldwide put billions into cryptocurrencies, they can donate to charity using Bitcoin, Ethereum and more. Before doing the same it’s important to learn how crypto donations provide cash value to charities in need and allow donors to deduct cryptocurrency donations from their taxes. If you’re serious about donating crypto, you… read more…
- AAMS vs. CFP Designations for Financial Advisors
With all of the financial advisor certifications, it’s hard to know which ones may fit your needs. For example, you might be seeking a financial advisor with more experience building a financial plan. In this case, working with a CFP might be… read more…
- These States Are Most Popular for Financial Advisors
Financial advisors are moving their talent south. A new report by the Investment Adviser Association (IAA) and National Regulatory Services (NRS) shows that financial advisors have moved away from traditional financial centers like New York to Southern states such as Florida and Texas. In fact, between 2019 and 2021, the number of advisors in Florida… read more…