News & Updates
What Does Peanut Butter, Jelly, and a 32% Lifetime Social Security Bonus Have in Common?
Good to Know Age 66 Monthly Retirement Check1 $24,000 annual benefit Age 70 Monthly Retirement Check1 $31,680 Annual Benefit Which benefit would you choose? Getting more sounds great but there are two challenges that must be conquered: Challenges #1: Bridging the income gap We called this “making the peanut butter and the jelly come out…
Read MoreCFP® Certificants in the News: What Do the New Standards of Conduct Mean When Disclosing Conflicts of Interest?
CFP® Certificants in the News True or False? A CFP® certificant is allowed to have a material conflict of interest with a client when providing financial advice. Answer. The statement is conditionally true. A certificant can have a conflict of interest with a client as long as the conflict is fully disclosed, the client agrees…
Read MoreIRS GIVES WIN TO INVESTMENT ADVISORY FEES IN A NONQUALIFIED ANNUITY
Good to Know We will take a very short break from our Social Security blog series with late-breaking news – potentially good news for advisors who charge only investment advisory fees. First, we’ll frame the issue then present the potentially good news. But before we frame the issue, let’s unpack the word “nonqualified” as it…
Read MoreThe Fiduciary Duty of Loyalty in CFP Board’s New Code of Ethics and Standards of Conduct
CFP® Certificant in the News Here’s the big news for CFP® certificants: Effective October 1, 2019, a fiduciary duty is owed to clients in more circumstances than under the previous CFP Board requirements. Fiduciary duty is the very foundation upon which a great deal of the new Code and Standards rests. A CFP® certificant is…
Read MoreWhen Should You Claim Social Security Retirement Benefits?
Good to Know When will our universe stop expanding? What age should you claim Social Security Retirement benefits? For too many of us, these two questions are equally confounding. The author cannot help you with astronomical riddles but can illuminate some of the key factors that should inform your claiming age decision. This is the…
Read MoreCFP® Certificants in the News: Dangerous Misconceptions About A CFP® Certificant’s Duty to Disclose Material Conflicts of Interest
CFP® Certificant in the News In our last blog, we illuminated CFP Board’s expectation that a certificant either avoid OR disclose and manage material conflicts of interest. That’s a simple instruction, right? Maybe or maybe not. It’s easy to confuse “material conflict of interest” as only sales-related compensation such as upfront commissions, deferred sales charges,…
Read MoreGood to Know: 50,000 Reasons to Care About the Restricted Claim Strategy for Social Security Spousal Benefits
Good to Know This blog builds upon the foundation we established for Spousal Social Security Retirement benefits in our last blog. To summarize our last blog, the spouse of a covered worker who claims retirement benefits at his or her full retirement age is entitled to a retirement benefit of the greater of their own…
Read MoreCFP® Certificants in the News: Rick’s Story
CFP® Certificant in the News People Helping People It was the way I was raised – you help people out who need help. That is why I got into this business as a financial planner. It is meaningful to me to help people make changes in their lives.” –Rick Fingerman, CFP® When a cancer diagnosis…
Read MoreChallenging Three Mistaken Beliefs About Spousal Retirement Benefits from Social Security
Good to Know The earth is flat. At least that’s what the mistaken belief was during the middle ages. If you told someone that the earth is flat today, you could get a laugh (or a raised eyebrow doubting your sanity). Yet, some of those who would laugh at the prospect of a flat earth…
Read MoreGood to Know: Who Needs Long-Term Care Insurance?
What are the odds you’ll need long-term care? Long-term care is a distinct possibility for millions of Americans. Today’s baby-boomers and their parents are living longer, but longer life expectancies are often accompanied by a need for extended long-term care. According to the American Society on Aging, 70% of Americans 65 and older will need…
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