This risk threatens retirees’ nest eggs. Here’s how advisors are protecting them

The big threat to retirees' hard-earned savings isn't market volatility. It's fraudsters making off with their data and their cash.
by Daniel at http://www.ifacareers.today

How advisors figure out which ESG funds are a good fit for socially conscious clients and their portfolios

Investing sustainably is a personal experience, and there are multiple strategies under the umbrella. Here's how advisors help clients find the right fits.
by Daniel at http://www.ifacareers.today

Here’s what’s ahead for President-elect Biden’s tax plan

Whether President-elect Joe Biden's tax plan moves forward will depend on the outcome of two Senate runoff races. Here's what could happen.
by Daniel at http://www.ifacareers.today

Op-ed: The pandemic forced advisors to adapt and find new ways to engage with clients

The pandemic changed how advisors and their clients do business — to online. Advisors must dedicate time and resources to effectively make this strategy shift.
by Daniel at http://www.ifacareers.today

What to tell your adult kids when planning your estate

Estate planning is a delicate subject, regardless of whether you decide to share just the basics or more detailed information about your plan.
by Daniel at http://www.ifacareers.today

You’re running out of time to use these tax-advantaged funds

The IRS rolled out special rules for flexible spending accounts earlier this year. What you need to know.
by Daniel at http://www.ifacareers.today

Sustainable investing is surging. How to decide if it's right for you

The first half of 2020 reportedly saw a record $20.9 billion flow into sustainable funds. It has grown into a complex landscape with sometimes confusing and overlapping terminology. Here's a look at the sector and whether it might work for you.
by Daniel at http://www.ifacareers.today

Working remotely from paradise? What it means for your taxes

Working remotely from a beach in the Caribbean sounds heavenly, but make sure you understand what this means for your taxes before you go.
by Daniel at http://www.ifacareers.today

5 opportunities to save on taxes – no matter who wins the election

Set aside your Election Day anxiety and focus on what you can still control: your 2020 tax bill.
by Daniel at http://www.ifacareers.today

Op-ed: Here are some action steps for small businesses that survived the Covid pandemic

The Covid-19 pandemic disrupted tax and retirement planning for small-business owners, especially those focused on saving their businesses from the fallout earlier this year. With some hard work, however, there is still time to get back on track by Dec. 31.
by Daniel at http://www.ifacareers.today

Meet the financial advisor ranked No. 1 two years in a row by CNBC

For two years in a row, Salem Investment Counselors has come in No. 1 on CNBC's list of the top 100 financial advisors. CNBC spoke with the firm's president.
by Daniel at http://www.ifacareers.today

4 ways wealthy families are trying to head off heftier estate taxes under a Biden administration

The last thing you should do is give away millions of dollars a week before the election. However, that doesn't mean you should just sit and wait. Here are four steps wealthy families are taking to prepare for a possible Biden administration.
by Daniel at http://www.ifacareers.today

Op-ed: Investors need to know exactly what being a ‘fiduciary’ advisor means

The most important factor when choosing a financial advisor is that they be a fiduciary. A fiduciary has a legal duty to act in a client's best interest. It's also important to know that many advisors are not fiduciaries.
by Daniel at http://www.ifacareers.today

Op-ed: This legislation will create a retirement recovery plan for millions of Americans

New comprehensive, bipartisan legislation to improve employer-provided retirement plans for workers by enhancing access and features is on the table. It's the best way to help Americans impacted by the Covid pandemic, says Insured Retirement Institute president and CEO Wayne Chopus.
by Daniel at http://www.ifacareers.today

This myth debunked: You don’t have to be wealthy to hire a financial advisor

More advisors are getting creative with their fees so they can offer their services to people who otherwise couldn't afford it.
by Daniel at http://www.ifacareers.today

Here are the new income tax brackets for 2021

The IRS has released its inflation adjustments for the standard deduction next year, as well as the marginal income tax brackets. Here's where you stand.
by Daniel at http://www.ifacareers.today

These 3 tax moves will help you save, regardless of who wins the election

The election may be on everyone's minds, but don't let the politics take your focus off of key moves that can trim your 2020 tax bill. Here are three steps you can take now.
by Daniel at http://www.ifacareers.today

Higher taxes could be around the corner. How the wealthy might prepare

It's still uncertain how the presidential election will shake out. However, if Democrats sweep Congress and the White House, an overhaul of taxes on the wealthy could be around the corner.
by Daniel at http://www.ifacareers.today

Op-ed: Lack of pre-existing condition protection could financially cripple many Americans

If you have workplace health insurance, you might not think the political debate around protections for those with pre-existing medical conditions applies to you. But as we've seen amid the Covid pandemic, jobs are never guaranteed. Physician and financial advisor Carolyn McClanahan breaks down why this type of coverage is key.
by Daniel at http://www.ifacareers.today

Trump says he 'prepaid' his taxes. So do millions of other Americans. Here's what that may mean

During the final debate on Thursday, President Donald Trump said that he prepaid millions of dollars in taxes. Experts think he meant quarterly estimated payments. Here's what you should know about them.
by Daniel at http://www.ifacareers.today

Feeling altruistic? This tax strategy can keep Medicare premiums in check

There's no denying the feel-good effect of donating to charity. But some giving strategies are more tax-savvy than others. This tactic allows you to give without blowing up your Medicare premiums.
by Daniel at http://www.ifacareers.today

Here are tips from financial advisors for getting your Medicare coverage right

Under Medicare, which you are eligible for at age 65, it can be challenging in some circumstances to change plans and costly if you get your choices wrong.
by Daniel at http://www.ifacareers.today

How to snare more income from your investments in a time of low Treasury yields

With yields near zero on the historical benchmark for safe income — U.S. Treasurys — investors may need to add some risk to the income portion of their portfolio.
by Daniel at http://www.ifacareers.today

Pulled money from a 401(k) plan for an emergency? What it means for your taxes

The CARES Act gave savers friendlier terms in the event they tap a last-resort pot of cash: a withdrawal of up to $100,000 from a retirement account. Be aware that you still have to prepare for a tax bill.
by Daniel at http://www.ifacareers.today

Here's how to handle an unexpected windfall of money

Depending on the assets you're inheriting, you may need to take steps to ensure you avoid unexpected taxes or expenses.
by Daniel at http://www.ifacareers.today

Will my Social Security be enough? How financial advisors can prepare clients for what's coming in retirement

Headlines about Social Security may prompt fears that it won't be there for retirees when they need it. Here's how advisors can demystify the latest news, and help clients come up with retirement income plans they can count on.
by Daniel at http://www.ifacareers.today

How to invest ahead of the 2020 election, according to top advisors

Infrastructure, renewable energy and technology stocks will be among the big winners with a potential Biden win. On the flipside, defense and financial stocks with benefit under a Trump administration, experts say.
by Daniel at http://www.ifacareers.today

Thinking about tapping your 401(k) due to Covid? Here's what you need to know

The CARES Act made it much easier for Americans to draw down their retirement accounts through coronavirus-related distributions or loans. Here's what to know before taking money out of a 401(k), according to participants at the 2020 CNBC Financial Advisor Summit.
by Daniel at http://www.ifacareers.today

Don’t call it a fad. Ethical investing is here to stay

With billions of dollars pouring into ESG investments — a strategy that weighs a company's environmental, social and governance factors — it's unlikely this trend will be going away any time soon, according to speaker's at the Oct. 20 CNBC Financial Advisor Summit.
by Daniel at http://www.ifacareers.today

Mario Gabelli sees 'extraordinarily good' U.S. economic growth in 2021

Investor Mario Gabelli struck a positive note on Tuesday on the U.S. economy even as coronavirus cases in the country are on the rise.
by Daniel at http://www.ifacareers.today

Why embracing diversity, equity and inclusion matters to financial advisor firms

As more Americans push for diversity, equality and inclusion in the world around them, financial advisors are finding ways to adapt.
by Daniel at http://www.ifacareers.today

SEC Chairman Clayton says mom and pop investors should shy away from these investments

Flavor-of-the-month types of investments make SEC chairman Jay Clayton nervous, he said at a CNBC event Tuesday.
by Daniel at http://www.ifacareers.today

Op-ed: Here are year-end planning tips for employees getting equity compensation

If you're an employee who receives equity compensation, you can't ignore the importance of year-end financial planning to get the most out of that benefit.
by Daniel at http://www.ifacareers.today

Here’s some advice financial advisors offer to new parents

A middle-class couple can expect to spend more than $230,000 to raise a child, and that doesn't even include college costs. More advisors are helping their clients successfully navigate how to cover their children's expenses without compromising their own financial security.
by Daniel at http://www.ifacareers.today

How workplace benefits might reflect the new reality of Covid-19

The coronavirus pandemic has forced employers to take a hard look at the workplace benefits they're offering. Here's how that benefit menu might change to adapt to today's new reality.
by Daniel at http://www.ifacareers.today

2020 may tempt people to throw out their long-term plans. Here's how advisors can keep them on track

Planning for long-term goals can feel harder this year. There's a real reason for that, due to how prolonged stress from the coronavirus pandemic can impair decision making. Now more than ever, financial advisors can help clients make progress through step-by-step plans.
by Daniel at http://www.ifacareers.today

These 4 states are voting to legalize and tax marijuana sales

This fall, four states are asking voters to decide on the legalization and taxation of recreational pot. Here's what you should know about excise taxes and how helpful they are in improving states' bottom lines.
by Daniel at http://www.ifacareers.today

Stock market is ‘OK,’ right now, says top advisor on CNBC's FA 100 list

Stocks prices are neither cheap nor pricy given prevailing interest rates and other factors like federal stimulus money, according to the president of Salem Investment Counselors, the top financial advisory firm on CNBC's FA100 list.
by Daniel at http://www.ifacareers.today

FA 100: CNBC ranks the top-rated financial advisory firms of 2020

Finding the right financial advisor to help with your financial needs and goals can be complicated. The CNBC FA 100 celebrates those advisory firms that top the list when it comes to offering comprehensive planning and financial services to help clients navigate their complex financial lives.
by Daniel at http://www.ifacareers.today

Financial advisor industry, overwhelmingly white and male, seeks to overcome lack of diversity

The financial advisory industry is overwhelming white and male. CNBC spoke with Financial Planning Association President Martin Seay about encouraging more diversity in the field as the country grapples with the implications of racial and gender barriers to success.
by Daniel at http://www.ifacareers.today

Advisors use technology to handle challenge in helping clients adjust to the new environment

Advisory firms have had to find ways to be able to adapt through the use of virtual technologies to keep their meetings going with clients. That newfound comfort will probably change advisory practices well into the future.
by Daniel at http://www.ifacareers.today

Advisors adapt to 'new normal' as pandemic has changed how firms connect with clients

As disruptive and unsettling as the coronavirus pandemic has been for the U.S. economy, financial markets and virtually every American family, the country's top financial advisors have managed to smoothly adapt to these circumstances.
by Daniel at http://www.ifacareers.today

Financial advisors predict a Biden win and more market volatility ahead: CNBC FA 100 survey

In a poll of top-rated advisory firms, there is a near-even split on the election outcome and the market's reaction. However, most see volatility as opportunity.
by Daniel at http://www.ifacareers.today

What to watch out for when making purchases with retail credit cards

Your favorite store's credit card may sound like a great deal. But read the fine print, as you may find high interest rates and deferred interest charges. In contrast, general credit cards may offer better rates.
by Daniel at http://www.ifacareers.today

With so many people living longer, advisors help to make sure the fear of outliving money doesn’t become a reality

Financial advisors are adjusting t their practices to the fact that their clients could be around for a long time. That includes finding ways to stretch out their savings and to protect their money from risks associated with old age.
by Daniel at http://www.ifacareers.today

Will schools reopen in the fall? Here's what's at stake for children and their parents

As schools prepare for the upcoming year, many have already committed to a "hybrid" model to education in and outside the classroom.
by Daniel at http://www.ifacareers.today

Op-ed: How the widening wealth gap became color-blind

Financial advisor Ivory Johnson, founder of Delancey Wealth Management and a member of the CNBC FA Council, writes this was all bound to happen sooner or later, and that any good thief will steal from anyone he can get his hands on, if he can get away with it time and time again.
by Daniel at http://www.ifacareers.today

Wealth management firms among those that have taken PPP loans during coronavirus pandemic

For many businesses, the government's PPP loans offered terms that were too good to pass up. That includes many wealth management firms across the country, according to government data. But whether those firms should have taken those loans is the subject of controversy.
by Daniel at http://www.ifacareers.today

Advisors need to listen more to keep clients on board, study says

Financial advisors expect their managed assets to grow by 7.2% over one year and by annualized growth of 17.2% over the next three years, driven mostly by new and existing clients, according to a recent survey.
by Daniel at http://www.ifacareers.today

Op-ed: Financial professionals need to keep investors safe in these unprecedented times

The unprecedented economic crisis caused by the Covid-19 pandemic demands that finance professionals recognize the leadership role they need to play in guiding investors through ongoing volatility to calmer shores, says Steve Horan of the CFA Institute.
by Daniel at http://www.ifacareers.today

Op-ed: There is no such thing as truly risk-free — even going to cash

While holding or moving to cash might feel good mentally and help avoid short-term stock market volatility, it is unlikely to be wise over the long-term. Cash doesn't earn any return and does not grow in value, so inflation erodes its purchasing power over time.
by Daniel at http://www.ifacareers.today

Op-Ed: The CARES Act makes it easier to tap your 401(k). Here's exactly what you need to know before you do

The CARES Act has made it easier for workers suffering due to the Covid-19 pandemic to tap their 401(k) plans and IRAs. Here's what to know before making a withdrawal from your retirement savings account.
by Daniel at http://www.ifacareers.today

Not just financial health: Advisors guide clients through coronavirus crisis

Record levels of unemployment. Terrifying market volatility. A pandemic that's infected more than 1.8 million Americans. Three financial advisors describe how they prepared themselves and their clients for the Covid-19 crisis
by Daniel at http://www.ifacareers.today

Here are some money moves you should make now that we're officially in a recession

It's official: The U.S. economy has come to an end of a historic expansion that lasted for almost 11 years. With the future unclear, financial experts say you can improve your personal financial outlook by taking these steps.
by Daniel at http://www.ifacareers.today

How coronavirus put these financial advisors' practices to the test

Entrepreneurs are in unprecedented times, contending with a pandemic that's taken a massive toll on human life and the global economy. Financial advisors are among the business owners trying to survive amid a disaster.
by Daniel at http://www.ifacareers.today

A new rule could make it harder to figure out if your financial advisor is on your side

This month, financial advisors will be required to comply with regulation Best Interest, a rule that requires them to put clients' interests first and disclose any conflicts. Some say this doesn't go far enough.
by Daniel at http://www.ifacareers.today

The pandemic has transformed the client-advisor experience

Martin Seay, president of the Financial Planning Association, thinks the changes financial advisors and his organization have made as a result of Covid-19 could stick long-term.
by Daniel at http://www.ifacareers.today

Here are key ways the coronavirus crisis differs from the Great Recession

Today's market havoc may feel like a trip down memory lane, but there are stark contrasts between the Covid-19 downturn and the Great Recession. Here are three ways the crises differ from each other.
by Daniel at http://www.ifacareers.today

Financial advisors face new challenges in the way they manage workflow, communicate with co-workers and clients

Market havoc isn't the only worry on financial advisors' minds. The coronavirus pandemic has forced many of them to shift their client relationships online and get their employees ready to work from home. Here's how they did it.
by Daniel at http://www.ifacareers.today

So your financial advisor took a PPP loan. Here's what that means for you

Many independent financial advisory shops are also small businesses with a payroll. That means they're eligible to apply for the Paycheck Protection Program. Here's what you should know.
by Daniel at http://www.ifacareers.today

Op-Ed: It's not time to panic, it's time to plan your finances during coronavirus pandemic

Proactive planning can aid you in achieving short- and long-term financial needs and goals, especially in times of hardship like the current coronavirus pandemic.
by Daniel at http://www.ifacareers.today

Op-Ed: Here's a game plan to help create retirement security for millions of Americans

As Congress considers ideas in the coming weeks seeking to help America recover from the Covid-19 pandemic, the Insured Retirement Institute has proposed a five-point plan to help American retirement savers enhance their ability to save for retirement today and ways to strengthen their financial security for tomorrow.
by Daniel at http://www.ifacareers.today

These financial advisors applied for the PPP loan. They share some lessons learned

Three financial advisors share how they have helped clients apply for emergency funding through the Paycheck Protection Program, and sought aid for their practices.
by Daniel at http://www.ifacareers.today

Op-Ed: Advisors need to help clients get back to basics during this volatility

While financial advisors must continue being proactive in helping clients maintain financial well-being during the coronavirus pandemic and downturn, the most effective advisors are managing their clients' emotional well-being, as well.
by Daniel at http://www.ifacareers.today

Op-Ed: Coronavirus market swings can lead to an 'amygdala hijack'

The barrage of bad economic news surrounding the coronavirus pandemic can trigger an emotional response, or "amygdala hijack," in investors' brains that can cloud judgment. Here's how to combat the panic and ensure sound financial decision-making.
by Daniel at http://www.ifacareers.today

Here's what advisors are doing to help clients — and themselves — amid coronavirus volatility

As markets careeen amid coronavirus-fueled economic volatility, financial advisors are at the eye of the storm. We asked five members of the CNBC Financial Advisor Council what they're telling clients, whether they're helping them reallocate and how the downturn is impacting their own fortunes.
by Daniel at http://www.ifacareers.today

Advisors urge investors to avoid these mistakes with their 401(k) during coronavirus crisis

There are some key things that retirement savers should steer clear of doing with their 401(k), despite uncertainty over exactly when the stock market will recoup its losses and head higher.
by Daniel at http://www.ifacareers.today

Eight out of 10 financial advisors see markets diving lower, survey finds

Eighty-one percent of financial advisors say markets haven't hit bottom yet amid the coronavirus pandemic, according to a survey by Ned Davis Research. Two members of CNBC's Financial Advisor Council say whatever the future holds, they're telling clients to stay the course.
by Daniel at http://www.ifacareers.today