- The Career Path to Becoming a Financial Advisor
Financial advisors are among the most important workers in the financial services industry. They help both individuals and institutions manage their money and set themselves up for a secure financial future. Not just anyone can become a financial advisor, though. It takes a lot of work to prove that you know your stuff when it… read more…
- What Employees Should Know About Severance Packages
The most important component of a severance package is, of course, the severance pay. It, in turn, is typically one or two weeks of pay per year of service, though it’s much more than that for executives. Most of us… read more…
- What Is a Broker-Dealer, and What Do They Do?
A broker-dealer is the regulatory term for what most of us just call a brokerage. Technically, the person who takes our calls (to buy or sell) is a registered representative of a broker-dealer, though you probably just refer to the… read more…
- The Best Cities to Sell a House – 2019 Edition
Selling a house is a major decision that demands careful consideration. After all, securing more money from selling your home gives you more capital to invest with your financial advisor. Your location, for one, plays a major factor. Houses in some places will sell immediately, while others stay on the market for months. Home values… read more…
- Financial Advisor Fees: Fee-Only vs. Fee-Based
Those seeking a financial advisor will encounter two types of fee structures: fee-only and fee-based. The difference between the two might not be immediately apparent. Still, as you research advisors to help you plan your financial future, you should understand… read more…
- What Is a Prenup, and How Do You Make One?
Prenuptial agreements, commonly known as prenups, are agreements that couples sign before marriage. They specify how assets will be divided in the event of a divorce. Prenups have become more common and less taboo in current times. However, misconceptions about… read more…
- What Is Financial Planning? Definition, Meaning and Purpose
Financial planning is the process of taking a comprehensive look at your financial situation and building a specific financial plan to reach your goals. As a result, financial planning often delves into multiple areas of finance, including investing, taxes, savings,… read more…
- What Is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy, also known as a wage earner’s plan, is a court-approved process that lets you create a repayment plan to cover most or all of your debt over the course of three to five years. Through this process,… read more…
- What Is a Fee-Based Financial Advisor?
When you work with a financial advisor, you’ll generally pay them via an advisory fee. This is often based on a percentage of your assets under management (AUM). Other common fee types are flat fees and hourly fees. Fee-only advisors… read more…
- What Is the Series 7 License? Definition, Cost and Requirements
The Series 7 license allows professionals to sell securities in the U.S. To obtain it, they must pass a rigorous exam covering various financial topics. The Financial Industry Regulatory Authority (FINRA) administers this test, and most employers in the financial… read more…
- Social Security Disability: A Guide to SSI and SSDI
Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) are programs offered by the federal government that are designed to provide monthly payments for disabled Americans. The approval processes for each are fairly complex, though, and you must meet certain standards to qualify. Therefore, it’s extremely important to plan ahead and know the eligibility… read more…
- Empower vs. Betterment
Betterment and Empower stand as two of the biggest robo-advisors available today. Both combine technology and human acumen to manage clients’ finances. The two firms offer services like automated investment portfolios, tax-minimization strategies and financial planning tools. But the breadth… read more…
- Pension vs. 401(k): Comparing Retirement Plans
Pensions once held the distinction of the most popular employer-sponsored retirement plan in the country. However, due to the much higher cost on employers, pensions have become significantly less popular, especially for non-government employees. In their place, more employers are offering… read more…
- How to Set Up a Blind Trust
A blind trust is a legal arrangement in which assets are managed by a trustee without the owner’s input or knowledge. This type of trust can be helpful for individuals who want to avoid conflicts of interest, such as politicians or executives, by separating themselves from the direct oversight of their investments. In a blind… read more…
- 7 Situations When You Need a Financial Advisor Most
Do you know enough about financial management to take care of all of your investing on your own? Or do you need help from a seasoned expert? That question comes up for millions of Americans each year. If any of these describe you, you could benefit from professional financial advice: 1. You’re retiring soon – Maximizing retirement income… read more…
- What Type of Financial Advisor Do I Need?
Managing your finances and investments can be difficult to do on your own. This is particularly true when it comes to complex matters like estate planning and building a retirement plan. Financial advisors can then step in as financial experts who can… read more…
- Where Residents May Be Getting Priced Out of Affordable Homes
Affordable housing markets are something of a rarity among big cities these days. This is especially true when you look at the cities with the strongest economies, like New York or San Francisco. Even many once-affordable markets are trending toward scenarios where residents are housing cost-burdened. This is a significant shift that spurs people to… read more…
- What Is a Chartered Life Underwriter (CLU)?
A Chartered Life Underwriter (CLU) is a professional designation that represents the highest level of expertise in life insurance and estate planning. This prestigious credential, awarded by The American College of Financial Services, signifies that an individual has completed rigorous coursework and demonstrated comprehensive knowledge in areas such as life insurance, business planning, estate planning,… read more…
- The Richest Counties in America
You may think you have a good sense of where in the country residents are making the most money. But the counties whose well-heeled, deep-pocketed denizens are pulling in the most coin may not include the fanciest zip codes you’re imagining. That’s because there’s more to income than just wages. In fact, a Federal Reserve… read more…
- How Retirement Savings Behavior Is Changing by Income, Age and Race
Back in 1989, the average American could expect to live until 75. Roughly 27 years later, the average life expectancy in the U.S. has crept up to nearly 79 years. But while the increased life expectancy is certainly good news, it is also a double-edged sword for Americans when it comes to financial planning. Given… read more…
- Social Security Form SSA-827
Applying for disability benefits from the Social Security Administration (SSA) is a multi-step process. One of the most crucial steps is when the SSA and a partner agency called Disability Determination Services (DDS) attempt to verify your qualifications for disability… read more…
- What Are 12b-1 Fees?
12b-1 fees are annual distribution fees related to mutual funds. They are operational expenses, and they’re usually a part of a fund’s expense ratio. These fees are separate from the normal management fee and are typically for marketing expenses. In… read more…
- Wealth Manager vs. Financial Advisor
When it comes to your finances, planning for the future may be difficult to do on your own, which is available through professionals like financial advisors and wealth managers. Both can offer similar services but a wealth manager typically only… read more…
- How to Create an Advance Directive in Ohio
When it comes to estate planning and making plans for the medical unknown, an advance directive can be extremely important. If you live in Ohio and you’re considering drafting up an advance directive for yourself, this guide will walk you through… read more…
- Asset Management vs. Hedge Funds
There are many ways to become a successful investor, and asset management and hedge funds are two prominent options. There are undoubtedly some similarities between these investment styles. However, each service has its own nuances that can make it more… read more…