Submitted by Eve Kaplan on Tue, 11/19/2013 - 3:00pm
The state of Americans’ retirement preparation is shocking. Why is this, and what can people do about it?
PBS ran its Frontlinedocumentary "The Retirement Gamble” in late October, just in time for Halloween. It's hard to watch this program without a sense of horror at the way our retirement plan system is rigged to rip off Americans struggling to save for their later years after working.
Submitted by Sterling Raskie on Mon, 11/11/2013 - 12:00pm
The capital letters after your advisor’s name denote more than alphabet soup. Here’s a breakdown of what the letters mean and how your advisor can – and cannot – help you.
As you seek advice regarding savings and investments, you come across professionals with capitalized designations after their names. Sometimes two letters, sometimes three, sometimes a string linked by commas and trademark symbols like railcars hooked together on a train.
Submitted by Rick Kahler on Wed, 10/30/2013 - 3:00pm
For advisors, professional credentials mean something. But our clients should know that one of the most prized, Certified Financial Planner, or CFP, is endangered because of new wrongheaded rules.
This matters to you, in shopping for an advisor or working with one. You need to know what you are getting. Integrity. Trustworthiness. A commitment to clients' best interests. These are all essential qualities for any advisor you entrust with your financial affairs.
Submitted by Larry Light on Sat, 10/12/2013 - 9:00am
People generally don’t understand that there are two different types of advisors. Broker-dealers are sales reps: They charge commissions for the stocks, bonds and funds they sell you. The second type, registered investment advisors, or RIAs, don’t get compensated for selling things. Investors pay RIAs a flat fee, or by the hour or as a share of assets.
Submitted by Rick Kahler on Fri, 10/11/2013 - 3:00pm
One of the major costs of operating a financial planning firm is regulatory compliance. This is meant to keep clients safe. But sometimes advisors must curtail our services to clients as a result.
“I’m the auditor, and I’m here to help you.”
Now there’s a phrase to send cold chills down anyone’s spine. It doesn’t matter whether you’re a taxpayer, a company with government contracts, or a financial planning firm. Having an auditor show up feels a lot like being one of the Three Little Pigs and seeing the Big Bad Wolf on your doorstep.
Submitted by Sophia Bera on Thu, 10/03/2013 - 3:00pm
If your financial planner cops a cocky attitude and parades a know-it-all ego, you should look for a new planner. Here are five planner comments you should beware of.
“I’m the expert so just trust me.” We in the financial industry suffer a lot of bad press. Financial planners already scrape the bottom in polls of professionals the public trusts. Yet many planners think that because you chose them you should blindly trust them. They must earn your trust.
Submitted by Mary Beth Storjohann on Tue, 10/01/2013 - 12:00pm
Many people hesitate to seek out financial planners advice for fear of judgment. Why’d you blow that paycheck? Why’d you invest in that? You’ve saved what for retirement? Others wait to seek guidance until that golden day when they’re financially set. Others think financial planners are just for the wealthy. All are wrong and here’s why.
Submitted by Maureen Crimmins on Wed, 09/25/2013 - 3:00pm
You’ve met your financial planner to discuss your goals, written up your financial plan and signed on all the dotted lines to transfer your accounts. Congratulations, you have a financial planner. From new babies to a new inheritance, you now have many reasons to contact that professional. Here’s how to stay in contact.
(This is the last of four articles on what you can expect in the process of financial planning.)