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FirsTrustAugust 27, 2019

How Dealing with a Fee-Only Advisor is Good for the Client (As Seen in Economic Times)

Remember that a person selling a product can never be a true advisor, as their interest lies in selling their product and meeting their targets. So, who should someone seeking advice turn to? The best bet for the investor would be a fee-only advisor, who only offers advice, just like a doctor/lawyer and does not sell products or get any remuneration from it. In such a case, the advisor would work in their best interest, offers the most appropriate solution and charges a fee for it.

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FirsTrustAugust 27, 2019

Five Ways to Avoid Financial Adviser Fraud by John Wasik

………"Investors must insist their advisors put in writing they will do certain things that the best advisors today already do," said Knut Rostad, executive director of the Institute. "The Investor Bill of Rights will help them."

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FirsTrustAugust 27, 2019

4 financial gifts for graduates by Brittany Jones-Cooper

…Money is a popular graduation gift – and with good reason. College grads in particular will likely be leaving school with overwhelming amounts of student debt and not much knowledge of how to pay it off. Sure, you can simply hand them a wad of cash; that's probably what students would prefer. But if you want to be more thoughtful about your gift, here are some other ways to give.

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FirsTrustAugust 27, 2019

How to pick a fee-only financial planner when family's finances suddenly increase? by Liz Weston

"…. A true fee-only financial planner accepts compensation only from clients. You'll want one who has an appropriate credential such as Certified Financial Planner (CFP). The planner should be willing to be a fiduciary and put that in writing. "Fiduciary" means the planner promises to put your interests first……."

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FirsTrustAugust 27, 2019

Yikes! Clients still don’t trust their advisors, CFA Institute finds (as seen in financialplanning.com)

….In an industry where members often talk of acting as a fiduciary in the best interest of their clients, most investors still believe that their advisors fail to fully disclose conflicts of interest and the fees they charge, a new survey by the CFA Institute finds.

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FirsTrustAugust 27, 2019

Why 60/40 Portfolios Are Downright Dangerous Today (as seen in Financial Advisor Magazine)

During the short nine days of trading from late January to February 8, the S&P 500 fell like a skydiver leaping out of a plane: fast and down. In a classic flight-to-quality response, investors pulled their parachutes, socking billions into the largest ETFs tracking the widely-watched Bloomberg Barclays U.S. Aggregate Bond Index (the “Barclays Aggregate”). This time, though, it didn’t work.

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FirsTrustAugust 27, 2019

RMD Strategies for Your Retirement Accounts by Bob Carlson in Forbes

…..It's almost April 1. That means it's required minimum distribution (RMD) time for senior Americans. Those who turned 70 1/2 last year face the deadline for taking RMDs from their qualified retirement plans. Their older cohorts should be considering their RMD strategies for the year…

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FirsTrustAugust 27, 2019

IRS Warns About Tax Scams During Tax Season

On February 1, 2018, the Internal Revenue Service issued a warning to taxpayers to watch out for fake emails or websites impersonating the IRS and trying to steal your personal information as well as aggressive phone scammers demanding immediate payment.