The Different Types of Advisors

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Investing Trends to Dislike

Submitted by Jim Ludwick on Tuesday, October 21, 2014 - 12:00pm

I’m uncomfortable about a number of issues now affecting financial consumers. Here are a few that possibly concern your very own investments – and future.

Target date funds (TDFs) insufficiently researched. A target date mutual fund contains a mixture of stocks, bonds and cash equivalents, rebalanced to reduce the number of risky assets as you age toward retirement.

An Advisor for Everyone

Submitted by David Geracioti on Sunday, October 5, 2014 - 3:00pm

There are many different financial advisors catering to different kinds of investors, including those with few assets, which may surprise some people.

At a panel of advisors, they discussed the different compensation models to choose from – some charge one-time fees for a financial plan (that often appeals to the self-directed-investing-leaning individual); others charge fees based on assets, typically 1% yearly; and some charge commissions for individual transactions.

The Advisor Team Approach

Submitted by Jeff Stimpson on Saturday, October 4, 2014 - 3:00pm

The do-it-all professional who plans your financial future appears as quaint – and rare – these days as the old country doctor who cured all ills. Today’s good advisors can help you sort out your myriad money details by tapping a network of experts in law, estate planning, taxes, insurance and other fields.

Getting Free Advisor Help

Submitted by Cherice Chen on Thursday, October 2, 2014 - 3:00pm

Financial advisors are not just for the wealthy. If anything, the financially insecure need advisors more. If you can’t afford one, the good news is, free advisory services exist to help you stand on your feet.

“We do tons of planning for people with very limited assets,” said Anthony Canale, president of the Financial Planning Association, New York Chapter, during a panel discussion.

The Rich and Their Advisors

Submitted by Cherice Chen on Tuesday, September 30, 2014 - 3:00pm

Rich people have different problems. For the more affluent, the financial planning process is more complicated. That’s why this clientele often turns to a team of professionals.

But there typically is one central advisors to play quarterback, coordinating the efforts of such experts as accountants, real estate attorneys, estate planning attorneys, said Stephen Stabile, senior vice president and wealth management advisor at Merrill Lynch, in an advisor panel.

The Future of Financial Advice

Submitted by Jeff Stimpson on Monday, September 29, 2014 - 3:00pm

Financial planning looms in everyone’s life, including yours. Not all money advisors are created equal, though. Does yours do the best job for you – and how can you contribute to making your own plan?

“Is your advisor asking you, the investor, the right questions? Is the investor asking the right questions of the advisor?” said Jeffrey Vivacqua, senior vice president of business strategy at the Fairfield, Iowa-based broker-dealer Cambridge Investment Research, speaking at a recent advisory panel.

Planning Beyond Investing

Submitted by Jeff Stimpson on Wednesday, September 24, 2014 - 3:00pm

Financial advisors can reach far beyond a portfolio and investments. Most people have no idea that advisors can assist with matters as diverse as estate plans and insurance, to ensuring you invest with your head and not always your heart.

“Emotions will overcome economic considerations every time,” said Tim Maurer, wealth advisor with Buckingham Asset Management and director of personal finance for the BAM ALLIANCE, speaking on a recent advisory panel.

Why You Need a Financial Coach

Submitted by Cherice Chen on Monday, September 22, 2014 - 3:00pm

Advisors are coaches who see your financial blind side. Even the best, market-savvy players can benefit from having an advisor.

“You don’t know what you don’t know,” said Larry Light, editor-in-chief of personal finance site AdviceIQ, during a panel discussion for National Financial Advisor Week. He gave an example of how his advisor, Jim Ludwick of Main Street Financial Planning, got him into a free health-care program that he otherwise would probably never know he is eligible for.

Gurus - Are They Really?

Submitted by Rick Kahler on Wednesday, August 27, 2014 - 3:00pm

When a financial advisor or an author of financial books becomes well-known, investors may assume they can trust that person’s advice. This isn’t necessarily the case.

Fame and quality don’t always go together. Recently, I was selected by an Internet community site called moneytips.com as one of their top 50 “social influencers.” This is a list of professionals in the areas of wealth and personal finance who use social media and other Internet tools effectively.

More Than an Advisor

Submitted by Rick Kahler on Wednesday, October 8, 2014 - 12:00pm

Great advisors not only help you with complex financial decisions, but they are your friends who support you for decades. My former business partner and mentor, George Chell, is a shining example.

I was in a cab, returning to our ship after a day of touring Belfast, Ireland, when I received a text from my father: “George passed away this morning.” He was 92.

I last saw George this past October, when he drove to my office, and we went to lunch. We ended our lunch the way we always did for the past 33 years, playing Liar’s Poker to see who would pay the tab.

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