Posts by Susannah Snider, CFP®
Financial Advisor
Ask an Advisor: Should a Financial Advisor Ask for My Risk Tolerance or Use Their Own ‘Proven’ Investment Strategy?
Should a financial advisor ask me for my risk tolerance, then invest accordingly? Or do they use their own proven strategy? -Chris This question sets up a false dichotomy. These risk-related investing considerations are not mutually exclusive. Many financial advisors… read more…
Data Studies
Financial Advisors Reveal How Investors Should Prepare for Potential U.S. Debt Default – 2023 Survey
If Congress doesn’t opt to raise or extend the nation’s debt limit, the United States may run out of the money needed to pay its bills. With this deadline approaching as early as June 1, SmartAsset asked financial advisors what they think will happen if the U.S. defaults and what they recommend clients do to prepare For… read more…
Financial Advisor
Ask an Advisor: ‘Am I Too Late?’ I’m 68, Have No Investments and Only Have $60K Saved
At 68, I do not have any investments of any kind. My $80,000 condo is paid off, and I have $60,000 saved. Am I too late? -Bernhard It’s never too late to start investing and managing your money. But I… read more…
Financial Advisor
Ask an Advisor: I Want to Roll Over My Money to a Roth IRA. How Do I Avoid Paying Taxes?
If I have a tax-deferred 401(k). Can I convert it to a Roth IRA without paying the deferred taxes when I roll it over? -Tommy Generally, the answer here is no. There’s typically no method to totally dodge taxes on… read more…
Financial Advisor
Ask an Advisor: I Don’t Need Them ‘Dumped Into My Checking Account.’ What Can I Do With RMDs?
I am approaching the time when I’ll take required minimum distributions (RMDs) from my individual retirement account (IRA). I am in a quandary about what I can do with this anticipated largesse of cash. I do not necessarily need the… read more…
Financial Advisor
Ask an Advisor: ‘I’m Depending on That Money.’ How Can I Plan to Retire When Republicans Are Threatening to Cut Social Security?
How can I plan to retire fully when the Republicans are threatening to cut Social Security? I’m almost 73, still working part-time and I’ve paid into Social Security my entire life. I’m depending on that money! -Karen Social Security benefits… read more…
Data Studies
These Charts Show Why You Shouldn’t Retire in a Down Market – 2023 Study
When it comes to retirement, timing is everything. And for retirees, good timing doesn’t just have to do with threading the needle on Social Security start dates or savvily initiating required minimum distributions (RMDs). It also has to do with… read more…
Advisor Resources
Brokers, Take Notice: Industry Watchdogs Eye Reg BI Compliance
Financial professionals recently received a reminder that industry overseers are closely monitoring how firms are implementing standards and practices under Regulation Best Interest (Reg BI). In mid-January, the Financial Industry Regulatory Authority (FINRA) issued an annual report that, among other… read more…
Data Studies
More Than 60% of Advisors Regularly Attend Conferences. Here Are the Most Popular Events for 2023
In 2023, financial advisors are dusting off their blazers, slapping on fresh name tags and marching back to conferences and professional events. The return to air-conditioned conference rooms and fluorescent-lit exhibitor halls comes three years after the COVID-19 pandemic disrupted professional conferences and events across industries. This year, however, advisors plan to attend old standbys… read more…
Advisor Resources
Ask an Advisor: I Have a ‘Solid Understanding’ of Investment Strategies. So Why Should I Pay 1% to a Financial Advisor?
Is it worth paying a financial advisor to manage retirement funds if you are confident in your own financial investment strategies? I feel like I have a solid understanding of long-term investment strategies. And as such, I feel the roughly… read more…
Advisor Resources
CFP Board Publishes New Crypto Guidance for Advisors
When providing financial advice on cryptocurrencies, certified financial planner (CFP) professionals have fresh guidance from the CFP Board. The governing organization published a notice recently in response to questions about applying the CFP Board’s “Code of Ethics and Standards of Conduct”… read more…
Data Studies
This Chart Illustrates How One Strategy Can Shave More than $1,000 Off Filers’ Tax Bills
One way for taxpayers to save money on their tax bill is via a strategy called “bunching deductions.” This technique, in which taxpayers accelerate or defer income in order to exceed the standard deduction in a given tax year, took… read more…
Advisor Resources
Webinar: 10 Things Advisors Should Discuss With Clients Before the Year Ends
Before 2022 comes to a close, advisors should kick off discussions with clients on a range of subjects, including retirement, investing, insurance and taxes. For many of these topics, there are year-end deadlines or contribution cut-offs that are important to… read more…
Data Studies
This Chart Shows Why It’s Not Too Late to Increase Retirement Savings, Even in Your 50s
Allocating a higher percentage of your salary toward retirement is an effective pathway to grow your savings – and improve your shot at financing your post-work life. But is that true for investors in their 50s? Can folks in middle… read more…
Advisor Resources
Millennials, Gen Zers Are Gaining Wealth, But Advisors Aren’t Meeting Them Where They Are
Young Americans are poised to inherit and grow significant wealth. But when it comes to meeting them where they are – notably, on various digital feeds where they tend to take in financial advice via video – financial advisors aren’t… read more…
Data Studies
Financial Advisors’ Top 3 Tax Moves to Make at Year-End – 2022 Study
As the year winds down, tax planning takes center stage. The last months before Dec. 31 are prime time for taxpayers to execute various financial moves before certain tax deadlines arrive. So which tax strategies are advisors discussing with clients?… read more…
Financial Advisor
5 Things Advisors Should Know Before the Nov. 4 Marketing Rule Compliance Date
Advisors, check your calendars. The mandatory compliance date for the Securities and Exchange Commission’s investment advisor marketing rule is Nov. 4. That’s right around the corner. And for many investment professionals, that deadline matters. In fact, nearly 69% of investment… read more…
Data Studies
This Chart Shows How Slashing $500 From Your Budget Impacts Retirement
Equity markets have stumbled in 2022, officially entering bear market territory, and leaving soon-to-be retirees wondering whether they’ll be able to finance their golden years. For these folks, there are a number of ways to approach this new investment reality.… read more…
Financial Advisor
Why Wealthy Clients May Be Leaving Robo-Advisors for Human Advisors
U.S. investors are turning away from robo-advisors, according to a recent report. After several successive years of increasing participation in digital platforms, U.S. usage declined substantially in 2022, according to Parameter Insights, a company providing data-driven research for wealth management… read more…
Financial Advisor
What Advisors Can Learn From the Tom Brady-Gisele Bündchen Divorce
For financial advisors, rumors of Tom Brady’s and Gisele Bündchen’s divorce can serve as a reminder of the challenges high-net-worth couples face when separating their financial lives. Conversations about asset division may be easiest broached when clients are still married… read more…
Financial Advisor
Investing Pros Point to These Barriers When Implementing ESG Policies
Investments that weigh environmental, social and governance (ESG) factors have a material impact on the investment policies of a group of recently surveyed asset owners. But hurdles remain on the road toward implementing ESG policies, respondents say in the multipart… read more…
Data Studies
Should I Delay Retirement? What the Numbers Say – 2022 Study
Delaying retirement is one impactful way to extend the life of your retirement savings. Waiting several years – or decades – to leave the workforce can grow your investment accounts, increase Social Security benefits and reduce the number of years… read more…
Financial Advisor
12 Topics Advisors Should Discuss With Clients During Market Volatility
Periods of market volatility can be distressing to clients. Savvy financial advisors know, however, that unsettling market conditions present an opportunity to touch base with clients and demonstrate value. Here are 12 topics Vanguard says advisors can discuss with clients… read more…
Financial Advisor
Ask an Advisor: I’m Losing Money on Investments. How Can My Advisor Let This Happen?
I’m constantly losing money on stock and cryptocurrency investments. And I paid for the advice that has given me the information that I’ve used to do this. For example, I was told to buy a specific stock and lost money… read more…
Financial Advisor
Bain & Co. Identifies What Young, Affluent Clients Want From Advisors
As young investors grow their wealth, financial services firms gain a once-in-a-generation opportunity to score new business, according to a brief from management consulting firm Bain & Company. Wealth management is an important path through which to connect to this… read more…