Archive - May 2009

1
What You Need To Do to Feel Financially Secure
2
Should You Use Income Replacement Funds?
3
State Farm Rejects CFP® Consumer Safeguards for It’s Agents
4
Does your Company Have a Match?
5
Working the Numbers in Divorce

What You Need To Do to Feel Financially Secure

I have noticed a trend over the last year with people I have spoken to about their financial situation.  The common theme I keep hearing is safety and security.  Because of this trend, our firm has decided to promote this theme throughout all of the literature we give to prospective and current clients.  It is the theme of financial security!

Re-Evaluate

I think people have been very humbled over the last year.  A paradigm shift has and is occurring and people want to know that everything is going to be okay.  The financial philosophies they used to old true have …

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Should You Use Income Replacement Funds?

Recently the mutual fund industry has introduced a new type of financial product targeted at Baby Boomers: income replacement funds. Fidelity has initiated several of these funds and Vanguard’s versions of the same idea, known as “managed payout” funds, were rolled out earlier this month. Other companies will doubtless follow their lead; Schwab and John Hancock are reportedly working on similar products. Like any investment product, these funds will be useful for some people. Consumers should be certain that they understand these funds in order to avoid any unpleasant surprises.

Mutual funds have become familiar investment tools for most …

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State Farm Rejects CFP® Consumer Safeguards for It’s Agents

004 - StateFarmAmericans don’t learn about finances in school but rather from the school of “hard knocks” (experience). When it comes to finances, many turn for help. The problem is virtually anyone can be called a financial advisor, including stockbrokers and insurance salesman.

Recently, the CFP Board, put stricter standards in place by requiring Certified Financial Planning practitioner to “always place the client’s interests ahead of their own”.

The new standard also requires CFP’s to disclose potential conflicts of interest and how they are paid (including commissions and cash bonuses) so that the clients can make more informed decisions. This is seen …

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Does your Company Have a Match?

Everyone needs to save for the day they hope not to work any more to make ends meet.  If you are comfortable with your job security and have good savings you could get to in a pinch, investing through your company’s retirement plan is worth considering.  Staying on a consistent investment plan through a down stock market can pay off quite nicely when markets recover.  If your company offers to match part of what you contribute to the plan, that’s even better!

So check your employer benefits and see what’s available to you.  Some companies don’t allow employees to contribute …

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Working the Numbers in Divorce

The financial settlement is the major component of many divorces.  Making sure that a professional who is an expert in finances is also an expert in divorce is key.  A financial professional working on a divorce needs to be familiar with the legal landscape in divorce, tax issues that specifically relate to divorce, and the long term impact of the financial settlement in a divorce.

Three different professions tend to gravitate toward this work.

Investment professionals sometimes do this work as a loss leader to get investment clients after the divorce.  Be aware of this, both because of the potential …

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