In most cases, “independent” is better. Times have changed – and so have financial advisors. Today, people don’t want financial advice from a salesman. Instead, they want a relationship with a financial professional who is candid, trustworthy and thoroughly educated, and who provides personalized financial consulting for each client. That search often leads them to […]
Why People Want Independent Financial Advice Read More
SUMMER SPENDING SPREE LIFTS RETAIL SALES They increased 0.6% in August, easing some anxieties about a possible slowdown in personal spending. Core retail sales (which exclude auto, gas, food, and home improvement purchases and more closely match the consumer spending aspect of GDP) improved 0.4% last month, and were up 4.1% year-over-year. The Commerce Department
Growth Report for Monday, September 15, 2014 Read More
They are no longer exempt from creditors & bankruptcy proceedings. A SCOTUS ruling raises eyebrows. On June 12, 2014, the Supreme Court ruled 9-0 that assets held within inherited IRAs by non-spousal beneficiaries do not legally constitute “retirement funds.” Therefore, those assets are not protected from creditors under federal bankruptcy statutes.1,2 This opinion may have
Less Protection for Inherited IRAs Read More
WALL STREET TAKES JOBS DATA IN STRIDE In August, a notable hiring streak ended: for the first time since January, the economy failed to create 200,000 new jobs during a month. Investors were disappointed by the news from the Labor Department, but it came with a silver lining: the moderation in job gains may give
Growth Report for Monday, September 8, 2014 Read More
What do you do when an account owner passes away? If your loved ones have invested, saved or insured themselves to any degree, you may be named as a beneficiary to one or more of their accounts, policies or assets in the event of their deaths. While we all hope “that day” never comes, we
What Beneficiaries Need To Know Read More
WHY DID CONSUMER SPENDING DECLINE IN JULY? Last month’s 0.1% dip surprised analysts. In inflation-adjusted terms, the Commerce Department measured the pullback at 0.2%. Household confidence, though, continues to increase. The University of Michigan’s consumer sentiment index finished August at 82.5, up from 81.8 at the end of July and refuting the Wall Street Journal
Growth Report for Monday, September 1, 2014 Read More
Your outlook may influence your financial outcome. What kind of retirement do you think you’ll have? An outstanding one? A depressing one? What if it all starts with your outlook? Qualitatively speaking, what if the success or failure of your retirement begins with your perception of retirement? A whole field of study has emerged on
The Retirement Mindgame Read More
A GAIN IN EXISTING HOME SALES In its July report, the National Association of Realtors recorded a 2.4% monthly increase in existing home sales. The good news from July took the annualized sales pace up to 5.15 million. According to the Census Bureau, July also saw a 15.7% leap in housing starts and an 8.1%
Growth Report for Monday, August 25, 2014 Read More
Have you kept up with them? Have they raised new questions for you? On July 1, 2012, the Department of Labor implemented some rules changes for ERISA-covered defined benefit and defined contribution pension plans. These changes were made to improve transparency.1 Covered service providers (CSPs) must fully describe services & fees. Financial advisors, financial consultants
Rules Changes for Retirement Plan Fiduciaries Read More
RETAIL SALES COOL OFF IN JULY They were flat according to the Commerce Department, with core retail sales (excluding food, car, gasoline and home improvement purchases) up just 0.1%. Economists polled by Reuters believed overall retail sales would advance 0.2% last month. Is this a signal that Q3 growth won’t come near Q2 growth? It
Growth Report for Monday, August 18, 2014 Read More
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