Fiduciary

I love that Bob Veres thinks that labeling someone as a broker or advisor would help bring clarity. It shows his optimism.

Congress cannot protect you from the financial sharks who contribute to their campaigns, but they may protect the sharks.

The fight is on! Everyone wants to be known as a fiduciary, but not everyone deserves the title.

One goes to bed, while the other sits down to manage the family finances.

An article title caught my eye recently: “Survey: Most Americans want financial advice from humans.”

We believe that NAPFA advisors are a well sought minority of financial advisors.

Do you want to trust your advisor is acting in your best interests or do you want them to have the legal obligation and be free of commission-based conflicts of interest?

You can get copies of Form ADV by accessing the Investment Adviser Public Disclosure (IAPD) website.

How your advisor is compensated matters. Make sure you can follow the money and know how they are getting paid.

Here are our answers and comments to the SEC’s eight suggested questions.

This is why we call ourselves comprehensive wealth managers.

Low risk firms should be visited less frequently by the SEC.

Adherence to the fiduciary standard is all about process.

Planning on future cash needs allows you to use specific accounts for tax planning purposes.

Comprehensive wealth management is a bottomless task.

Without a doubt, the best single annuity option for any client – that is, the option that creates the higher monthly cash payment – is to delay Social Security.

Having a plan not to run out of money is priceless.

A dollar saved on your taxes is better than a dollar earned which causes you to pay more tax.

Just how much value does a smart advisor bring with asset allocation and rebalancing wisdom?

Planners can add the equivalent of a 1.82% annual arithmetic return to clients through five components.

You deserve a fee-only fiduciary standard of care.

You’re looking for an enduring relationship based on mutual respect and trust, so plan on investing at least as much effort as you’d put into choosing an automobile, especially a used one.

For families with complexity to their finances, hiring a tax professional actually saves them money. Wealth managers bring benefit to such families in the same way.

This kitten is willing to ask for help. Be more like this kitten.

Inverview with George Marotta on NAPFA and being a fee-only fiduciary

Many people prefer having a local fee-only commission-free financial planner they can easily visit on a regular basis. Others prefer to handle everything through phone and email.

Advisors who offer comprehensive wealth management are like financial concierges. Their only goal is to meet your needs. If you ask for fresh strawberries, they try to find them for you.

I often get asked, “Are investment management fees tax deductible?” The answer is not a simple “yes” or “no.” Like many tax questions, the answer is “It depends.”

“Unfortunately, some are also misleading the public by saying that a fiduciary standard would prevent the delivery of financial services to middle-American Main Street investors.”

Investment fees are generally about 1% of assets under management and drop as assets rise. The critical question to ask is “Where do financial advisors add value that might exceed the 1% fee they charge?”

The rules which would begin to be applied to the watchdogs would not be for the sake of protecting the roost no matter how much the foxes suggest they do.

“You’ll want to interview several potential candidates, and make sure you find the right person for the job. Use these questions to hire the right financial advisor.”

Fi360 promotes a culture of fiduciary responsibility and improves the decision making processes of investment fiduciaries and other financial service providers.

Fee-only financial planners are registered investment advisors with a fiduciary responsibility to act in their clients’ best interest. They do not accept any fees or compensation based on product sales.

Experts Explain: Finding a Financial Advisor. How to find the right person to help manage your money.

Wisdom is the ability to exercise good judgement in the fact of imperfect knowledge. Sometimes that means reframing the question.

“Today, if you make enough money for [Goldman Sachs] (and are not currently an ax murderer) you will be promoted into a position of influence.”

Given all the greed and deceit in the world of financial services you shouldn’t have to trust your financial advisor. Here is a list of eight safeguards that should be in place to help safeguard your money.

Comprehensive wealth management is based on the idea that small changes in our finances can have large effects over long periods of time. These changes can make the difference in achieving our life goals.

“Many investors think active managers can shift out of stocks in time to stem losses in bear markets. Not true.”

Learn about the index preferred by the person who invented index funds with the Vanguard S&P 500. And no, it isn’t the S&P 500.

Working with a fee-only planner can help you make better financial decisions and balance current needs with future goals. The result can be financial peace of mind.

Someone asked me what disclosures I would require for financial advisors. I’ve written these principles in a yes-or-no format and reworded the questions. “Yes” is the best answer and “no” means you should seek more information or not consider that advisor at all. Although answering affirmatively to all 10 questions would be my first screen in selecting a financial advisor, it still does not guarantee the person has the competence necessary to offer comprehensive wealth management.

Most investors are not aware of a critical division of professionals in the world of financial services. This distinction lies between fee-only fiduciaries who are free to act in your best interests and commission-based agents and brokers who are required to act in the best interest of the companies that employ them.

A humorous Google search for Charlottesville financial planning.

You have a critical part to play in financial planning. Certain responsibilities cannot be delegated to others.

Crazy volatile markets push people toward irrational investment schemes. Know how to avoid them in order to safeguard your money.

One important safeguard is to insist on investing only in liquid assets. Investors undervalue liquidity 99.9% of the time. You need to be in the other 0.1%.

Fee-Only financial advisors will be in cities across the country to conduct free advice events.

You owe it to yourself and your family to make certain you keep your financial New Year’s resolutions this year.