Comprehensive Financial Planning

Brokers, broker-dealers, financial planners, investment managers: With so many financial professionals and terminologies, it’s easy to feel lost when deciding who to trust with your financial future. Among the sea of financial terms, Registered Investment Advisors (RIAs) and Financial Advisors frequently surface, but their distinctions aren’t always clear. Here, we take a closer look at these important professions, providing clear insights into what sets them apart and how each can play a pivotal role in helping you navigate your financial waters. Understanding Registered Investment Advisors (RIA) RIAs are professionals or firms that are in the business of providing investment Read More

Achieving financial security can often feel like embarking on a challenging expedition, with rocky terrain, unexpected turns, and distant horizons to reach. But with a comprehensive financial plan as your guide, even the most daunting financial landscapes can be traversed with confidence.Key Components of Your RoadmapThe components of a comprehensive financial plan function as a roadmap, each offering unique insights and strategies to guide you towards your desired destination: long-term financial well-being. From pinpointing your starting location to anticipating the challenges ahead, these components ensure a well-prepared and informed journey.Starting Point: Budget & Cash FlowA foundational step in any financial Read More

Every family has dreams — from owning a home to planning for retirement to ensuring quality education for the kids. The question is, how do you turn these dreams into reality? How do you navigate the complexities of family finances? Discover how finding a financial advisor is the answer to reaching your financial goals. What Is a Family Financial Advisor? A family financial advisor is a financial planner specializing in offering financial advice tailored to families’ unique needs and dynamics. Following core financial planning principles, they help family members optimize their finances to achieve short- and long-term financial security. Read More

Do you have a 10-year financial plan? If not, working towards your goals can feel like scaling a mountain without any tools. But with the right strategies, you can chart a clear path and achieve your long-term milestones. What is a 10-year financial plan? A 10-year financial plan is your blueprint to reach your goals over the next decade. It considers your savings, investments, expenditures, and other financial endeavors, providing a structured approach to achieving various long-term financial objectives. These plans take a slightly different approach than a one- or five-year plan, focusing on growth potential, long-term financial stability, Read More

When you’re enjoying your golden years, the last thing you want is unexpected financial surprises, like Medicare’s Income-Related Monthly Adjustment Amount (IRMAA). Luckily, you can keep these charges from impacting your nest egg with some strategic asset management. What Is the IRMAA? The IRMAA is an additional charge added to Medicare Part B and Part D premiums for individuals and couples at higher income levels. In other words, if your modified adjusted gross income (MAGI) exceeds a certain threshold, you’ll be required to pay a higher premium for your Medicare Part B (medical services) and Part D (prescription drugs). How Read More

When working with a financial planner, you want to know that your finances are in the very best hands. To give you the reassurance you need, we look at some of the regulations that competent and trustworthy planners adhere to. Who Sets and Oversees Financial Planner Regulations? The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) are the key players in the regulatory landscape. Both entities work to ensure financial planners and other financial professionals adhere to established standards. The Certified Financial Planner Board of Standards (CFP Board) also sets specific criteria for financial professionals Read More

In an age when new financial trends, apps, or innovations pop up every day, sometimes the best thing we can do is step back and review the fundamentals. In this blog, we look at the financial planning basics that prove essential to financial health, time and time again. Key Planning Components Goal Setting Why it’s important: Financial planning without direction is like setting sail without a destination. Clear, precise goals give you a sense of purpose, help prioritize your actions, and offer motivation if financial waters get rough. How to do it: Decide on your short-term (within a year), Read More

Managing wealth can be as tricky as the path taken to accumulate it. If you’re a high-net-worth individual, you know the stakes are particularly high. With as many challenges as there are opportunities, what is the best way to safeguard your assets, achieve your financial goals, and secure your legacy? This guide dives into the world of high-net-worth management, uncovering strategies to protect and grow your wealth. What Is a High-Net-Worth Individual? You’re generally considered a high-net-worth individual if you have $1 million in liquid assets (also known as investable assets). This wealth not only brings exclusive opportunities but Read More

Money, as they say, makes the world go ‘round. Yet, for many of us, our relationship with money remains enigmatic and filled with unanswered questions. Are we saving enough? Is our current job serving our financial and personal aspirations? Are we truly on the path to financial freedom? Asking the right questions can shine a light on our financial realities, providing a clearer roadmap to achieving our dreams and goals. In this guide, we delve into some pivotal financial advice questions that offer a holistic view of your financial journey. Looking at Your Financial Strategy How much money should Read More

Navigating the road to financial security can feel like a labyrinth of complex investment decisions, especially if you’re approaching retirement. It is fraught with questions about risk, returns, taxes, and timing, and the path you take can significantly impact your future. To help demystify the process, we review the top 10 investment questions investors need to ask before and after making an investment. Before Investing, Ask Yourself . . . #1 What are my financial and retirement goals? Before anything else, identify your objectives. What are you hoping to achieve by investing? In retirement, what kind of life do Read More