- Financial Planning vs. Estate Planning
Both financial planning and estate planning can help you reach long-term financial goals. But while they are very different in which aspects of your finances they can focus on, both financial approaches could also complement each other to offer you a healthy balance between growth and protection. To execute either, it’s important to understand how… read more…
- What Are Exempt Reporting Advisers (ERAs)?
Exempt reporting advisers (ERAs) are specialized financial advisors who offer their services primarily to certain private investment and venture capital funds. These advisors are not required to register with the U.S. Securities and Exchange Commission (SEC) but still must report certain information. This unique role sets ERAs apart from other investment advisors, making them a… read more…
- How to Find a Financial Advisor for the Ultra High Net Worth
When managing substantial wealth, there are unique challenges and complexities that require specialized attention and expertise. As an ultra-high-net-worth individual, you face distinct financial needs, opportunities and goals. This careful balance demands tailored strategies from expert financial professionals to ensure optimal growth and protection while aligning with your long-term goals. A financial advisor can help… read more…
- ‘Advisor’ vs. ‘Adviser’: What’s the Difference?
The terms “advisor” and “adviser” are often used interchangeably, leading to confusion about whether there’s a meaningful difference between the two. At first glance, these words appear to be simple variations in spelling, but their usage and implications can vary depending on context. From legal and professional designations to stylistic preferences in writing, understanding the… read more…
- AUA vs. AUM: How Do They Differ?
Assets under management (AUM) refer to assets on an advisor’s platform that they can directly manage and execute trades for, either on a discretionary or non-discretionary basis. In contrast, assets under advisement (AUA) are assets the advisor provides guidance on but cannot trade due to logistical limitations, such as 401(k) accounts. Here’s an overview of… read more…
- Can Financial Advisors Accept Gifts From Clients?
The financial advisory industry has rigorous rules that apply specifically to the acceptance of gifts from clients. These regulations help uphold a transparent and ethical financial advisor-client relationship, which can minimize potential conflicts of interest. Financial advisors who dismiss these rules may face repercussions, including fines and license suspensions or revocations. Here’s what you need… read more…
- Finding a Financial Advisor as an American Expat Overseas
Living abroad introduces new layers of complexity to personal finance, especially when managing investments, taxes and retirement across borders. An expat financial advisor can help address issues that are unique to Americans living overseas, such as FATCA compliance, foreign income reporting and where to bank. An advisor may also offer insight into cross-border estate planning… read more…
- Are You Happy With Your Financial Advisor? If Not, Here Are Some Tips for Switching
If you’re looking to build wealth, get ready for retirement or anything in between, you may find it helpful to work with a financial advisor. Not only can these experts guide your investments and saving during your working years, their advice can be vital to managing the complicated questions of taxes and withdrawals after you… read more…
- How to Find a Financial Advisor on a Low Income Budget
Developing money management skills can help you get better at saving and investing, both of which are important for building wealth. A financial advisor can lend their expertise to help you achieve your financial goals. If you have a low income or limited budget, you may assume that hiring an advisor is off the table.… read more…
- How Many Financial Advisors Do Wealthy Investors Meet Before Hiring One? You May Be Surprised
You’d think before they hand a large sum of money over to a financial advisor, wealthy investors would check out and interview a number of candidates to handle their life savings. However, a new study shows you’d be wrong. Consider working with a financial advisor for expert advice on managing assets and creating or updating a… read more…
- Is a Virtual Financial Advisor Right for You?
Virtual financial advisors that are based online are emerging as an attractive option for those seeking more affordable, yet tailored financial advice. It’s important to recognize the potential benefits virtual financial advisors offer, grasp the process of working in tandem with one and learn how to select the right advisor for your specific needs. If… read more…
- How to Find Financial Advisors for Tech Professionals
Every industry has its own financial needs. This is true whether you work in the service industry making most of your money off tips or as a surgeon making a lot of money without a W-2. It’s also true for tech… read more…
- Can a Financial Advisor Help Make a Budget?
A financial advisor can assist with almost any aspect of a person’s financial life, including budgeting. Financial advisors provide an array of services, ranging from investment management to estate planning. Many people who work as financial advisors focus on specific… read more…
- Do Financial Advisors Need a License?
License requirements to work as a financial advisor vary widely. Generally, depending on your practice, you will most likely need to take either the Series 6 or Series 7 exams as well as the Series 63, Series 65 or Series 66… read more…
- Financial Analyst vs. Financial Advisor
Financial analysts and financial advisors are both professionals who help people and organizations achieve their financial goals. The roles are similar and overlapping in some areas but also have specific differences. Financial analysts focus on using data and research to… read more…
- Financial Advisor vs. Insurance Agent: When Do You Need One?
A financial advisor can help you create a strategic plan for managing your money. Part of that plan might include buying insurance, something that an insurance agent can also help with. When working with a financial advisor vs. insurance agent,… read more…
- What Is the Consumer Financial Protection Bureau (CFPB)?
The federal government passes financial regulations to protect consumers from unfair practices. The Consumer Financial Protection Bureau (CFPB) exists to make sure that banks, lenders and other financial institutions follow those regulations. You might not give much thought to the… read more…
- How to Find a Socially Responsible Financial Advisor
Making social change is an admirable goal. And you can do so even if you can’t make a million-dollar donation to your favorite charity. If you’re looking for investment advice while you save for retirement, a socially responsible financial advisor… read more…
- How to Find a Financial Advisor for Entrepreneurs
Running a business or being self-employed can present some unique financial challenges. At some point, you might begin to wonder if it makes sense to hire a financial advisor. An advisor can help you create a game plan for managing… read more…
- What Is a Multi-Family Office?
A family office is a financial advisor firm that provides comprehensive wealth management services to a single individual or family. A multi-family office simply expands on the same concept. Instead of working with just one family or individual, a multi-family… read more…
- When Should You Hire a Financial Advisor?
Whether you’re a new parent or expecting to retire shortly, your financial situation requires attention, knowledge and care. While Googling answers or asking a friend for help can answer basic questions, a financial advisor can provide holistic services that protect… read more…
- Can a Financial Advisor Help With Your Student Loans?
When you’re struggling with debt, a financial advisor can often help. Debt often looks far more overwhelming than it has to be. For example, you may have options you don’t realize, or might be too overwhelmed to make a good… read more…
- Divorce Financial Advisor: When to Hire One
Getting divorced can take a toll mentally and emotionally, but it can also upset your financial plans. Hiring a divorce financial advisor is something you might consider if you’re concerned about reaching an equitable agreement with your soon-to-be former spouse.… read more…
- 5 Questions to Ask a Financial Advisor in a First Meeting
Getting your finances in order can be challenging, so people often turn to financial advisors. But selecting a financial advisor whose training, experience and personality fit your preferences can be a difficult task. Here are five questions you should ask in… read more…
- How to Check a Financial Advisor’s Credentials
Looking for qualified financial advisors is easier in today’s world than it has been in the past. Of course, you still have to vet candidates to make sure that you are getting the right guidance for your financial needs. Many… read more…