Advisors

Ariel Skelley | DigitalVision | Getty Images Nearly anyone can hang out a shingle and just call themselves a financial advisor. To be sure, the terminology in the financial services industry can be very confusing to investors. There are advisors, brokers, broker-dealers, certified financial planners, chartered financial analysts and certified investment management analysts, investment advisors,

Tom Merton | OJO Images | Getty Images With the election less than a week away, the phones are ringing off the hook for estate planning attorneys and accountants. That’s because wealthy families fear that an overhaul of the estate and gift tax exemption — the amount of assets they can transfer without a 40%

Former Vice President and presidential nominee Joe Biden gives remarks at UA Plumbers Local 27 Erie Training Center in Erie, PA on October 10, 2020. Demetrius Freeman | The Washington Post | Getty Images A “blue wave” of Democrat victories in elections next month could upend the normal incentives for tax planning this year. Typically,

Your bank account balance doesn’t have to stop you from being able to hire a financial planner. towfiqu ahamed | iStock | Getty Images There’s a big misconception that financial planning is only for the wealthy. The truth, however, is that financial planning is a path for anyone to actually gain wealth. The objective of

The Internal Revenue Service (IRS) headquarters in Washington, D.C. Janhvi Bhojwani | CNBC We still have two months left in 2020, but the IRS has already released a breakdown of next year’s marginal income tax rates. Each year, the taxman updates its individual income tax brackets to reflect inflation. There are seven brackets: 10%, 12%,

SDI Productions | E+ | Getty Images Set aside your panic over post-election tax policy and focus on something you can control: your 2020 tax bill. It’s no secret that Democratic presidential candidate Joe Biden has an extensive list of tax proposals, including higher taxes on households with more than $400,000 in income and lowering

Choreograph | iStock | Getty Images For the nation’s older cohort, the stakes can’t be higher when it comes to choosing health-care coverage. That’s partly because under Medicare — you’re eligible at age 65 — changing plans can be challenging in some circumstances and costly if you get your choices wrong. So whether you’re giving

FG Trade | E+ | Getty Images This fall, older savers who are feeling generous may want to consider using their individual retirement account to help fund their favorite charities. There’s an incentive for being altruistic: It could help retirees manage their Medicare premiums in 2022. People who are aged 70½ and over can make

President Donald Trump and Democratic presidential candidate Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22. Jim Watson and Brendan Smialowski | AFP | Getty Images President Donald Trump isn’t the only one who’s “prepaid” his taxes. Millions of other Americans have, as well. At least that’s the

Luis Alvarez | DigitalVision | Getty Images Generating income through safe investments like U.S. Treasurys was once was an easy move. Now, not so much. With yields on those government-issued bonds near zero, investors may need to add some risk to the income side of their portfolio. “Twenty years ago, generating income was a one-trick

Getty Images Under almost any circumstance, tapping your retirement plan savings for cash is a bad idea. Tax professionals and financial advisors will almost universally tell you to use all other sources of liquidity before you hit your tax-advantaged retirement accounts. “Certain IRAs and qualified plans are protected from creditors,” said Ryan Losi, a CPA

Daniel Balakov | E+ | Getty Images With billions of dollars flowing into sustainable investing strategies, it’s safe to say it’s no longer a fad. Investors are pouring cash into funds that use environmental, social and governance criteria to screen the companies they invest in. Even passive investors are jumping in: There were 534 sustainable

Getty Images It’s no secret that many people worry whether Social Security will be there for them when they retire. And recent headlines could be stoking those fears. Last week, the Social Security Administration announced the annual cost-of-living adjustment will be 1.3% in 2021. The change will amount to just $20 more per month for

Paul Bradbury | OJO Images | Getty Images As more Americans push for diversity, equality and inclusion in the world around them, financial advisors are finding ways to adapt. The Black Lives Matter movement and nationwide protests have changed the dynamic, yet many financial firms are still dominated by White males. In 2019, 77.7% of

Getty Images, Drazen_ This year may be like no other, but if you’re an employee who receives equity compensation, you can’t ignore the importance of year-end financial planning to get the most out of that benefit. The end of the year is a great time to review what you’ve received or vested during the year.

Mike Kemp | Blend Images | Getty Images Matt Becker opened his financial advisory practice, Mom and Dad Money, not long after he and his wife, Casey, had their first son, Aiden, and struggled with all the financial decisions new parents need to make. “I looked around and I didn’t see a lot of advisors

Westend61 | Westend61 | Getty Images It’s now easier for older savers to continue socking money away for retirement. Just be aware that unintended consequences may follow — and they could cost you. That’s due to the Secure Act, legislation that was signed into law late last year and took effect in 2020. The measure

Virojt Changyencham | Moment | Getty Images As of mid-September, there were 26.5 million Americans on some form of unemployment assistance.  Many families and individuals have been forced to deal with unexpected health costs and uncertain education and day care situations in their communities. Many Americans are facing a grave threat of financial insecurity, having

FatCamera | E+ | Getty Images You may have recently received a new disclosure form, as mandated by federal securities regulators, from your financial advisor. Or, maybe not. And from where some experts stand, that may not be a bad thing. While a broad swath of the nation’s broker-dealers and registered investment advisors — known

Advisors are bullish on Joe Biden, but bracing for a rocky election cycle, according to a CNBC FA 100 survey. More than a third, or 37%, of top-rated financial advisory firms said they believe the Democratic nominee will be elected as the next U.S. president, compared to 20% predicting President Donald Trump will come out

fizkes | iStock | Getty Images As disruptive as the coronavirus pandemic has been for the U.S. economy and financial markets, the country’s top financial advisors have managed to find ways to adapt to the changing circumstances of a new normal. The community shutdowns across much of the country have profoundly changed how advisors operate and

Getty Images It’s no secret that 2020 has been an unpredictable year. And that uncertainty can cloud the decisions we make, especially when it comes to money. Consequently, investors and their financial advisors need to be on their guard for clouded decision making that could lead to regrets later. “It’s possible that the times have

Audience members listen as Democratic presidential nominee and former vice president Joe Biden participates in a CNN town hall event on Sept. 17, 2020 in Moosic, Pennsylvania. Drew Angerer | Getty Images Expanding the child tax credit Currently, families with qualifying children under age 17 may be eligible to claim a child tax credit of

Cavan Images | Cavan | Getty Images Things may go green in four states this fall, as voters will decide on legalizing and taxing marijuana. Arizona, Montana, New Jersey and South Dakota all have measures up for a vote to legalize and levy recreational marijuana. Thus far, 11 states have legalized recreational pot: Alaska, California,

Martin Seay of FPA Source: Financial Planning Association Martin Seay’s term as president of the Financial Planning Association has, to say the least, been an eventful one so far. Not only has the coronavirus pandemic changed just about everything in the advisory industry, but the Black Lives Matter movement and the nationwide protests that have

David Rea, president of No. 1-rated financial advisor firm Salem Investment Counselors, said that, despite the pandemic, the firm’s “ability to manage stocks and bonds and to communicate with our clients is unchanged.” Salem Investment Counselors Stock prices are “OK” — neither cheap nor pricy — given prevailing interest rates and other factors like federal stimulus money

Finding the right financial advisor to help with your financial needs and goals can be complicated. There are so many things to consider. Many advisors use a big assets-under-management figure as a selling-point when marketing themselves to investors. However, AUM isn’t the whole story when a potential client is determining which firm is right for

sturti | E+ | Getty Images Alfred Abraham has had colon cancer, prostate cancer, open heart surgery and his left eye removed. Yet at 100, he’s still alive and well. Every day, he and his partner Brian eat fruit and salad and go for walks. He and his family were planning a big party to

A student leaves the Thurgood Marshal Elementary school after all Seattle Public Schools were abruptly closed due to coronavirus fears on March 11, 2020 in Seattle, Washington. Schools will be closed for a minimum of two weeks. The system is the largest public school district in Washington State. John Moore/Getty Images Distance learning got off

Jamie Grill | Getty Images I was raised one and two sentences at a time, my father’s clichés serving up life lessons at the kitchen table, after baseball practice or on the way home from school. He didn’t have the patience for long-winded lectures and couldn’t find his voice after biting his tongue at work