Here we talk about the requirements to call yourself a fiduciary and the different types of fiduciary financial advisors, including: Fee-only fiduciaries. Certified financial planner fiduciaries. Registered investment advisor fiduciaries. Retirement advisor fiduciaries. Voluntary fiduciaries.
……..It also means heightened enforcement around conflicts of interest through the SEC’s Regulation Best Interest rule that went into effect last year to restrict unsavory practices by brokers and making sure they put clients’ interests ahead of their own when making recommendations. That is a good development for individual investors and will accelerate the trend toward fee-only or fee-based financial advice……..
……Carefully consider what you’re entering into and take the time to determine whether the arrangement makes sense from a relational perspective and in terms of wealth planning…….
Although “fee-based” and “fee-only” financial planners sound similar, they both have different fee structures and different obligations to investors. Here’s what you need to know about fee-based vs. fee-only financial planners.
CFA Society of Orlando: Investors First Podcast 40: Tamar Frankel: State of the Union with the Godmother of Fiduciary hosted by Colby Donovan and Chris Cannon, CFA
Is a contribution to an individual retirement account (IRA) tax-deductible? For many of us, the short answer is: You bet! That’s what IRAs are for. However, there are rules and limits.
Common tax-minimizing strategies are difficult or impossible to implement on the trading platforms that have boomed in popularity in the past year.
President Joe Biden is proposing higher taxes on the top 1% to help pay for the $1.8 trillion American Families Plan. But the “marriage penalty” may hit couples earning more than $500,000. Financial experts say tax planning strategies may lessen the sting.
