Sentences with phrase «client of any financial advisor»

An interesting article was published on WealthManagement.com claiming that clients of financial advisors who are also investing through self - directed accounts are «cheating» on their advisors.

So before becoming a client of any financial advisor, take the time to find out which type of license they hold and which investments they're allowed to sell.

Not exact matches

George Reilly, an advisor and owner at Safe Harbor Financial Advisors based outside of Washington, D.C., developed a series of tests that he runs for his clients a few years prior to their retirement.

«At first, we thought AMT repeal would be great for our clients,» said Leon LaBrecque, JD, CFP, managing partner and CEO of LJPR Financial Advisors.

Financial advisor Tom Balcom, founder of 1650 Wealth Management in Fort Lauderdale, Florida, said he has seen clients who take on their adult child's bills when the children lose their job.

A survey of 10,000 households that use financial advisors found that more than half of advisor clients (51 percent) thought the advice they received was either free or they didn't know how much they paid for it.

One common piece of advice to potential financial advisor clients is that they ask their potential money manager about their «investment philosophy.»

Acorns is part of a trendy and growing industry of so - called robo - advisors, online - only financial advisors that steer clients» money into low - cost investments.

«I had some clients whose retirements were saved because of [variable annuity] contracts they purchased before the financial crisis,» said Marc Ruiz, a financial advisor with Oak Partners and a registered rep with SII Investments.

Indeed, the sale of high - commission annuities has been flagged as one of the more egregious ways that financial advisors fail to act in their clients» best interests.

While he has steered very few of his clients toward annuities recently, because of low interest rates and higher prices since the financial crisis, he thinks advisors who ignore all annuity offerings are failing their clients.

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Keller of the Certified Financial Planner Board of Standards expects the department will relax some of the disclosure requirements and modify the rules about communications between advisors and prospective clients and likely give firms more time to comply with the rule.

Financial advisor Carolyn McClanahan, director of financial planning at Life Planning Partners in Jacksonville, Florida, said the clients who say they don't want to retire often don't want to rein in their Financial advisor Carolyn McClanahan, director of financial planning at Life Planning Partners in Jacksonville, Florida, said the clients who say they don't want to retire often don't want to rein in their financial planning at Life Planning Partners in Jacksonville, Florida, said the clients who say they don't want to retire often don't want to rein in their spending.

Adolfo Rodriguez, managing partner of the A / R Financial Group, has been focusing more and more on Social Security maximization over the past six years, conducting seminars for the public and for other advisors, as a service to their own clients.

As financial advisors, we pride ourselves on being the voice of fiscal reason for our clients.

Ileana Musa focuses on working with Bank of America's international financial advisors with goal - based wealth management experience for high - net worth clients.

The potential tax benefits of these deals has led some financial advisors to pursue these investments on behalf of clients.

The Department of Labor passed a new rule earlier this year requiring that financial advisors who work with clients on retirement plans abide by a fiduciary standard.

When certified financial planner Sean Burgess began offering investment management services to his clients six months ago, he turned to an asset manager that some of his peers consider direct competition: a robo - advisor.

As counterintuitive as it may seem, advisors are in the best position to spot and report bad actors and instances of financial abuse among their elderly clients.

As financial advisors, it's our job to make sure our clients understand the type of returns to expect, depending on the level of risk they accept when they invest.

These financial advisors have a fiduciary responsibility to their customers to ensure they provide the best financial advice possible and act in the best interest of their clients.

While the robo - advisor retains full responsibility for managing the investments and matching the client to the appropriate portfolio, the financial planner might fill the role of trusted human advisor who can prepare an in - depth financial plan but also counsel clients about all aspects of their finances.

The absence of any outside compensation frees up the financial advisor to truly be a fiduciary, dispensing the trust financial advice with only the client's best interest in mind.

This week, the DOL delayed the effective date of its Fiduciary Rule — which would define all retirement plan financial advisors as ERISA fiduciaries, effectively banning conflicted 401 (k) investment advice that puts advisor profit ahead of client interests — by 60 days from April 10, 2017 to June 9, 2017.

None of our clients use a stock broker and insurance agent — which means they aren't affected by the rule at all unless their plan's financial advisor gives rollover recommendations in addition to investment advice.

«Academic research has clearly established that conflicts of interest affect financial advisors» behavior and that advisors often act opportunistically to the detriment of their clients,» the memo says.

Traditional wealth management companies such as Goldman, Bank Of America Merrill, and Citibank with physical offices around the world charge around 1 - 2 % of assets under management for financial advisors to actively manage their client's moneOf America Merrill, and Citibank with physical offices around the world charge around 1 - 2 % of assets under management for financial advisors to actively manage their client's moneof assets under management for financial advisors to actively manage their client's money.

Three out of five financial advisors say more than half of clients are more concerned about retirement security than last year.

The network is the leading organization of fee - only financial advisors offering affordable and accessible advice to Gen X and Gen Y clients.

Also facing a questionable future is the Labor Department's Fiduciary Rule, which regulates how financial advisors service their clients, specifically by eliminating conflicts of interest.

In this role, he is charged with increasing TDAI's participation and voice in the financial services industry, and identifying key issues of importance to TDAI and their advisor clients.

Winterberg says advisors have to offer an equivalent robo - advisor service but also make clear that they do much more than just «turnkey asset management and stock selection... This week of all weeks they should be saying that to clients, how they create financial plans and go beyond just investments but talk about cash flow, taxes, estate plans and college planning.

Financial Advisor Fraud: Every year, investors become the victims of stockbrokers, financial advisors, financial consultants or other registered representatives who overpromise returns, misdescribe the risks of an investment, recommend inappropriate investments, or even perpetrate fraud when dealing with theirFinancial Advisor Fraud: Every year, investors become the victims of stockbrokers, financial advisors, financial consultants or other registered representatives who overpromise returns, misdescribe the risks of an investment, recommend inappropriate investments, or even perpetrate fraud when dealing with theirfinancial advisors, financial consultants or other registered representatives who overpromise returns, misdescribe the risks of an investment, recommend inappropriate investments, or even perpetrate fraud when dealing with theirfinancial consultants or other registered representatives who overpromise returns, misdescribe the risks of an investment, recommend inappropriate investments, or even perpetrate fraud when dealing with their clients.

Investors should also recognize that if they do suspect their advisor is in violation of the rules, the onus is on them (the client) to sue the advisor — the Department of Labor does not actively police financial advisors at the individual level.

The Affordable Retirement Advice for Savers Act rolls back the Obama administration's fiduciary rule and amends federal law to require financial advisors to act in the best interests of their clients.

He enjoys serving as a financial advisor to a broad range of clients and utilizing SBA lending programs that best meet their corporate profile and financial goals.

Due in part to a growing lack of faith in traditional financial advising brought about by this trend, more and more investors are switching to low - cost passive online advisors (often called robo - advisors) who exclusively or almost exclusively invest clients» capital into index - tracking funds, the thought being that if they can not beat the market they may as well join it.

For example, suppose that Jim, a financial advisor, charges 1 % of a portfolio's value for his services and that during a 12 - month period Jim managed to produce an alpha of 0.75 for the portfolio of one of his clients, Frank.

Advisors can no longer simply present a product to a client without the proper assessment of their financial goals and analysis of various products that would best address those goals.

In an email sent out at the end of January to Raymond James employees, Reilly called a recent leaked White House memorandum supporting the DOL as «an example of biased and distorted research (that) impugns the integrity of the work our advisors do every day to help clients achieve their financial goals.»

Raymond James Financial CEO Paul Reilly is among the industry executives against the proposal, calling it in a recent email to employees «an example of biased and distorted research (that) impugns the integrity of the work our advisors do every day to help clients achieve their financial goalFinancial CEO Paul Reilly is among the industry executives against the proposal, calling it in a recent email to employees «an example of biased and distorted research (that) impugns the integrity of the work our advisors do every day to help clients achieve their financial goalfinancial goals.»

Said Perez on Friday: «Lawyers and doctors have an obligation to look out for the best interest of their patients and clients, and all's we're saying is, in the financial context, that advisor ought to do the same — and they can do it.

More than 50 percent of financial advisors expect to go deeper in their social media relationship with their clients.

Highlights Jack Petersen T» 93, founder and managing partner of Summit Trail Advisors, in an article about how financial advisors should approach clients with expertise in thAdvisors, in an article about how financial advisors should approach clients with expertise in thadvisors should approach clients with expertise in the field.

With the implementation date of the Department of Labor's fiduciary rule looming large in April, all attention has been focused on how financial advisors and their Financial Institutions are making adjustments to manage their compensation conflicts of interest, to avoid breaching the fiduciary's fundamental duty of loyalty to act in the client's best ifinancial advisors and their Financial Institutions are making adjustments to manage their compensation conflicts of interest, to avoid breaching the fiduciary's fundamental duty of loyalty to act in the client's best iFinancial Institutions are making adjustments to manage their compensation conflicts of interest, to avoid breaching the fiduciary's fundamental duty of loyalty to act in the client's best interests.

It's one of the single most feared (or even loathed) provisions of the Department of Labor's fiduciary rule for a large financial institution, because it dramatically raises the stakes of a potential systemic failure to fulfill the firm's fiduciary duty to clients, outside the relative safety of one - advisor - at - a-time arbitration (especially industry - friendly FINRA arbitration).

Ropes Wealth Advisors seeks to enhance the wealth and legacy of individuals, families and the institutions it serves, offering investment management and financial planning services that are customized and unbiased and seamlessly integrated with a client's overall wealth management goals and strategies.

The rule requires financial professions of all types, including brokers, financial advisors or wealth managers, to act as a fiduciary, meaning they must act in the best interest of their clients.