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 and ultimately lead to...
Why are more people feeling financial stress despite the strong economy we’ve experienced since the recession? Many Americans are losing sleep over money, according to a January 2019 survey by Bankrate. The media may report a ‘strong U.S. economy,’ but many people experience stress outside of what’s happening in the broader economy....
As the economy shows signs of modest improvement, indications of downward shifting in U.S. production from the residual effects of the trade war are starting to surface, according to the May 2019 Federal Reserve’s Beige Book Report. The Beige Book Report compiles from information gathered by the twelve Federal Reserve...
Market risk is something all investors worry about, but those close to retirement have limited time to recover from the loss. If you’re within ten years of retirement, your investments are at a critical stage to continue to gain value and avoid loss. Without thinking through the dynamics of...
Couple’s spend many hours planning and a significant amount of money on their wedding, but personal finances and protecting assets deserve just as much attention and planning. When both parties are in agreement on discussing their finances, reviewing credit reports, and asset and liability information, long term asset appreciation...
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...
In our working years, we work and save toward retiring someday, creating our retirement story. Our story may include daily golfing, living somewhere different, or participating in activities we enjoy each day that help to fill our minds with a picture of our retirement. But the plan of relocation...
‘Tax advice’ is left to federally authorized tax practitioners who prepare tax returns and defend clients pursuing relief from federal agencies for their own tax payments or to dispute tax payment errors. Financial advisors don’t provide tax advice, but provide information on the tax consequences of specific investments they...
Every financial client has their own story about what has happened in their life and what they hope to accomplish in the future. Life events can alter even the most carefully thought out plan. Some events clients experience are divorce, loss of a job, health issues, death of a...
Losing a spouse, whether through death or divorce, can be devastating emotionally and financially. The loss can take months or even years to recover since there is no way to prepare for death or divorce even when spouses have discussed contingencies with each other or with their advisor. When...