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Business owners should start exit and estate planning years before a potential sale. Waiting until the deal is on the table can cost you millions in taxes.
With a $10M gift to create and run a school of financial planning, Ric Edelman aims to solve the retirement readiness crisis and wealth management's talent shortage.
You can help protect your retirement by focusing on the one factor you can control — the unexpected costs of investing. Here's what to consider.
Advisors suggest multiple ways that clients can maximize the triple tax advantages of health savings accounts (HSAs) while avoiding penalties.
While most DIY investors focus on short-term portfolio performance, CFAs and CFPs specialize in long-term strategies that support your full financial picture.
One of your most important financial decisions is who you trust for advice. Your best bet is a fee-only professional legally committed to your best interests.
We owe it to our loved ones to consider what will happen when we pass away. Taking care of our own paperwork now will spare them time, stress and money later.
If wealth management clients have children who are recent college graduates, pointing them in the right direction on their first 401(k)s helps build strong connections with two generations.
Turns out, an adviser's long tenure is not a reliable indicator of their true expertise, especially in crucial areas like retirement income and tax planning.
You may think you'll pay less in taxes once you retire, but taxable withdrawals and Social Security can keep your tax bill as high as it was during your career.
Just because a financial pro is a celebrated "top producer" doesn't mean they're not simply a skilled salesperson whose compensation is tied to selling products.
I still talk to my accountant about everything. The difference now is that those conversations happen alongside all my other wealth planners. The post Why Accountants Should Not Be Your Go-To for Fina...
Allowing clients to surrender or lapse life insurance policies before gauging value on the secondary market amounts to a fiduciary fail, argues Cole Hallman of Citizens Life Group.
The first meeting with a new adviser can be intimidating, but you can reduce your worry and ensure you're hiring the right person by following a few rules.
Before you search for a financial professional, ask yourself what kind of financial advice you need. You'll then know where to look — and what fees to expect.
Many women forgo financial planning because it's just another thing to add to their lengthy to-do list. Here's why you should bump it to the top of your list.
I'm 61 she's 62 1/2. We have a Fidelity advisor and the scenarios all run well. Do we also need a CFP to essentially check his work? Hope she can retire fully at 63 and I'll stay on the job to 65. Any...
A new study from the Center for Retirement Research suggests there is a large gap in economic outlook between financial advisors and mass affluent investors.
With about 41 million American workers lacking access to a retirement plan through their jobs, experts say advisors could play a pivotal role.
Want to enjoy life after work without having to worry about market downturns or inflation? Creating a guaranteed retirement "paycheck" is the answer.
It's never too late to save for retirement, and there are plenty of ways to build up your nest egg, depending on the level of risk you're comfortable with.
Author, podcaster and financial advisor Tyson Ray explains the importance of knowing your financial advisor’s succession plan and what happens to you when they retire. “If something happens to you, wh...
Millennials don't have the same approach to wealth as older generations. How can ultra-high-net-worth families and their advisers keep a legacy on track?
Multiple accounts, inherited assets and life transitions can make finances harder to manage when you retire. Simplifying what you have is a smart move.
Too rich for basic financial advice but not rich enough for private client services? What's the best way to plug the "middle wealthy" retirement planning gap?
This is my first post in this group, so if this is out of place or out of line, I'm happy to remove it. I never had a plan for retirement, just, sock money away in a Vanguard account and hope for the ...
You'll most likely need long-term care as you age. Not planning for it puts your assets and your family's peace of mind at risk. Here's how to tackle the beast.
Instead of seeing retirement planning as a game of optimizing returns, try to view it as building a plan that keeps your family steady when life punches first.
With 166 exits under his belt, David Karp of Cresset works closely with entrepreneurs and ultrawealthy families, emphasizing discipline, customization and long-term wealth stewardship.
Holly Kroft focuses on ultra-wealthy families, emphasizing asset allocation, trust and long-term discipline.
Kathleen Grasmeder of Morgan Stanley emphasizes planning, education and team culture, but relies on equities to stay ahead of inflation.
Robert Skinner II emphasizes high-conviction investing, tax efficiency and disciplined decision-making during volatile markets.
Your adviser probably uses technology that lets them manage your portfolio at the touch of a button, so why haven't they updated how they charge for their work?
Good communication between clients and their advisers starts with one simple question: Do you want hard truths and real analysis, or just a sounding board?
What you pay for financial advice is secondary to the true value you receive, which is why the structure of your financial professional's compensation matters.
Women should personalize their Social Security claiming strategy and run the numbers after considering life expectancy, tax situation and existing assets.
Women are the main providers of care — and will make up most of those needing it in future. Your 50s is when to start asking how you'll cover your own needs.
Asking "Are you a fiduciary?" won't tell you everything about a financial professional. Here's a question that will clarify where you stand, 100% of the time.
We all know it's important for advisors to look out for the best interest of their clients. In this episode we discuss important red flags to watch out for when considering a client/advisor relationsh...
Looking for a trustworthy financial professional? That term can cover brokers, insurance agents and advisers who don't all have the same standards.
Research shows that many investors fear policy changes could hurt their retirements, but these concerns often go unspoken with financial advisors, creating a planning gap.
Friday the 13th is considered an unlucky day — this year has three. We asked advisors to share their scariest stories of client mistakes.
Whether you're hiring your first financial adviser or searching for a new one, looking for these key attributes can help you find the right fit.
Clients may ask if a flat fee is better than a percentage of assets under management, but the real question is whether fees reflect the value of your services.
Good family meetings bring clarity to estate plans and strengthen bonds. Poor ones turn into ugly battles. This simple tool will help you avoid the drama.
How does fee-only financial advice differ from fee-based or commission-based advice? Knowing the difference is a critical step toward receiving unbiased help.
Hiding assets or debt from a financial adviser damages the relationship as well as your finances. If you're not being fully transparent, it's time to ask why.
Talking to heirs about transferring wealth can be overwhelming, but avoiding it now can lead to conflict later. Here's how to start sharing your plans.
A resilient retirement plan is a flexible framework that addresses income, health care, taxes and investments. And that means you should review it regularly.
All that cash you have in tax-deferred accounts could launch you into a higher tax bracket when you start withdrawals. It's time to protect your income.