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Together, these proposed changes (which are currently open for public comment) suggest CFP Board is seeking to ensure that those with the marks not only have sufficient education and experience upon receiving them, but also maintain and sharpen their skills over the course of their careers.
At the same time, CFP Board has noted that advisors pursue the certification voluntarily and that its standards, which cover the entire financial planning process (unlike SEC and FINRA regulations that largely focus on investment management), help to raise standards for the industry as a whole at a time when advisors increasingly offer comprehensive (..)
In the mid-20th century, the first phone call for a person who needed guidance on saving or planning for retirement was likely to be to a stockbroker or a mutual fund or insurance salesperson. So, in the late 1960s, a movement began to organize and promote best practices that would establish financial planning as a true profession.
To meet this challenge, CFP Board’s Center For Financial Planning has engaged in fundraising for several years to fuel campaigns that have focused on building the advisor workforce of the future.
Also in industry news this week: While the SEC has had the power to restrict mandatory arbitration clauses in RIA client agreements for more than a decade, an advisory committee meeting this week suggests support for such a measure isn't unanimous CFP Board saw a record number of exam-takers during 2024, reflecting recognition of the professional and (..)
Which means that while many fee-only RIAs use the reduced conflicts that come with the fee-only model (as opposed to firms that receive compensation from commissions and other sources) as a key marketing talking point, the fact remains that being truly 'conflict free' is nearly impossible and such claims (which are hard to substantiate) appear to be (..)
House of Representatives committee this week approved legislation that would expand the pool of individuals who would qualify as accredited investors able to access certain private offerings Proposed bipartisan legislation would allow individuals to use funds in 529 plans for expenses associated with acquiring or maintaining postsecondary credentials, (..)
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Massachusetts Secretary of the Commonwealth has launched an investigation into how investment firms are using artificial intelligence-enabled technologies, echoing concerns expressed by the SEC that these tools could be used (..)
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a recent survey found that clients across several countries who work with a CFP professional have better outcomes on a range of measures compared to those working with other advisors or no advisor at all, suggesting that the (..)
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that while both the total number of RIAs and advisor headcount have seen significant gains in recent years, client assets remain concentrated among the largest firms, according to data from Cerulli Associates, with the 7% of RIAs (..)
Also in industry news this week: Top Democratic Senators are urging the Treasury Department to crack down on a range of estate planning strategies for high-net-worth individuals, including GRATs and IDGTs Amid fallout from recent bank failures, both Republicans and Democrats are considering whether current FDIC insurance limits should be increased (..)
Among others, one notable item that could be reviewed is the current certification requirement that a candidate must have attained at least a bachelor’s degree, which some observers have suggested limits the pool of potential CFP professionals at a time of high demand for advisor talent.
Start planning early. It takes strategic foresight, hard numbers, and smart decisions that begin well before your final day at work. Yet far too many professionals delay the planning process. Even if you don’t plan to retire unusually early, starting your retirement planning now can dramatically improve your options later.
In this episode, we talk in-depth about how Jon evolved his "high tech and high touch" mindset to serving clients by regularly iterating upon and updating his advisor tech stack while also elevating his long-time client service administrator into a more holistic client concierge (because the future isn't about tech or human service, it's tech and human (..)
On a smaller scale, meanwhile, several firms have implemented residency programs designed to offer meaningful work experience to young planners fresh out of school who are able to take on entry-level work, meet their experience requirements for their CFP certification, and then leave after 2 or 3 years.
Also in industry news this week: Backers announced the new Texas Stock Exchange, which seeks to provide companies with a lower-cost alternative to the NYSE and Nasdaq, which, if successful, could create a more competitive landscape and potentially better execution and reduced trading costs for financial advisors and their clients The American College (..)
Many investors have recently found solace in growing their cash reserves, whether in their checking accounts, savings accounts, or certificates of deposit (CDs). Emotional Drivers and the Stories We Tell Ourselves The urge to build a large cash cushion isn’t just about numbers; it’s deeply emotional. When is enough, enough?
Earlier this year, we introduced our own Investment Adviser Representative (IAR) CE programs that allow those in the growing number of states that have adopted the NASAA Model Rule to meet their 12 hours/year CE requirement.
Category: Client Relations Financial planning is difficult for anyone, and even more so for someone who is a special needs person or has such a family member. Other than the benefits provided by the federal government, there are various plans and relief programs in place that are provincial or territorial based.
You plan on staying at the company until your shares are fully vested; . You plan on leaving the company before the stock is fully vested; You don’t have enough liquid assets or it would strain your finances to pay the taxes upfront; You think the stock value will go down or stay the same; or. Candidate for CFP® Certification.
Financial bloggers often portray the traditional IRA vs. the 401(k) plan as a debate, as if one plan is better than the other. In truth, they’re very different plans, and they fill very different needs. If you can, you should plan to have both. This is especially true if your 401(k) plan is fairly restrictive.
Keep the following documents for seven or more years: Income tax returns (federal and state) W-2s and 1099s Medical bills Contracts Receipts for tax-deductible items Mileage records Canceled checks Real estate tax forms Credit cards statements that contain purchases used as tax deductions Retirement plan contributions. for insurance purposes.
They’re well-versed in recommending vital products like life insurance and are wizards at tax planning. Building Relationships: Beyond the numbers and charts, their profession’s heart is the bond they share with their clients. Embark on this journey with dedication, and the world of financial planning awaits you!
Taking the time to develop a plan will help you and your partner get on the same page and strengthen your bond so you can enjoy your growing family. I hope this helps you think through the financial demands of having a larger household and the impact on your spending plan, so you understand what you need to do financially to stay on track!
Broadening the reach of your financial planning services is good for the health of your business, helps your advisors become more successful, and increases the likelihood that they continue to build their careers with your firm. What are Home Offices Doing Today to Support Financial Planning at the Firm Level?
529 Plan When it comes to saving for future education expenses, this is probably the most advertised or talked about account for children given the ballooning cost of college tuition the past two decades. 529 plans can be used for tuition expenses for K-12 in addition to college expenses, but the withdrawal limit is $10,000 per year there.
Best 1,000-dollar investment instruments High-yield savings accounts or certificates of deposit (CDs) : High-yield savings accounts and CDs are excellent entry points for those who prioritize safety and stability. Tip #4: Keep your emotions in check More than the numbers, building wealth is about having the right mindset.
The number varies, but $1,000-$2,000 in cash is about the ballpark for covering travel costs, gas, food, etc. No one wants to think about their home being destroyed or their birth certificates being washed away in a flood. Birth certificates. Estate planning documents. Note: Keep that cash somewhere safe! But it happens.
More than numbers — it’s about achieving peace of mind. Where CFP® Really Comes In This is where the Certified Financial Planner (CFP®) certification makes a real difference. It’s not just a certification. What are your non-negotiables? Stewardship Phase = Now we shift from growing money to protecting it.
The post Including Pets in Your Estate Plan for Peace of Mind appeared first on Yardley Wealth Management, LLC. Including Pets in Your Estate Plan for Peace of Mind As a pet owner, you’ve likely considered your furry friend’s well-being in many aspects of your life. People now treat pets like family.
Certificates of Deposits (CDs) If you have already funded your emergency savings and want to sock away excess funds, then consider Certificate of Deposits (aka CDs). March inflation data is expected to be released on April 12 and that is the last number needed to determine the inflation adjustment for the I Bonds ahead.
Fortunately for executive and insiders, Rule 10b5-1 trading plans can allow flexibility to sell stock without regard to limitations imposed by company insider trading policies while complying with SEC regulations. Such plans also provide an affirmative defense to allegations of insider trading. Enter the 10b5-1 plan.
The financial planning and insurance industry offers a dynamic career path with immense growth potential. In this blog, we will explore the benefits of pursuing short-term courses in the insurance planning industry and how they can help you unlock your dream job with guaranteed placements.
In order for an investment to be a highly liquid investment, it must meet a number of factors: The asset must be in an established liquid market. The asset must maintain a large number of readily-available, interested buyers. No-penalty certificates of deposit. For example, banks may restrict your number of monthly withdrawals.
But what often goes unnoticed is the cost of carrying debt: You pay extra in interest charges You feel constant financial pressure Your credit score takes a hit, reducing your chances of getting better loan terms in the future That’s why a structured plan to repay debt isn’t just good, it’s essential. What is the Snowball Method?
The company, which has a current book value of Rs 58,000 crore, plans to invest Rs 3 lakh crore in renewable energy by 2030. Its trade name is Dailyraven Technologies Private Limited, and its SEBI-registered research analyst registration number is INH000015729. lakh crore over the next two to three years.
This blog is designed to illuminate the path to becoming a CFP® professional, focusing on the critical steps involved in the admission process, exploring the myriad of career prospects, delving into the eligibility criteria, and the future of the CFP® certification.
Whether you haven’t gone yet or never plan on going, there are plenty of ways to make a living without having a college degree. Requirements: Strong communication skills Some employers may require sales associate certifications 4. Requirements: Physical fitness skills Relevant certifications 6.
Instead, they start piling up right when you plan to conceive. While the figure is stressful, financial planning for a baby can help you transition into parenthood smoothly. Here are some tips that can help you in planning for a baby financially: 1. This can shield you from having to take out loans or depleted savings.
Taking on more responsibilities, traveling more or obtaining a degree or certificate can all warrant higher pay. Too many people go into that interview waiting for their potential employer to give them a number. Share your plans and goals for the future in your role. Asking for a raise can be a bit trickier.
EIN/Tax ID: Enter the company’s EIN or other applicable tax identification number. Certification statement: Carefully read the certification statement and check the box to confirm your agreement. Head to the BOI reporting page on the FinCEN website FinCEN offers online filing through a secure web form.
1) Certificates of Deposit (CDs). For those of you who like to see the numbers, here’s an example of compound interest at work: Suppose you invest $1,000 in a five-year certificate of deposit, paying 5% and compounded annually. Interest Rate Actual Number of Years to Double Your Investment Rule of 72 Calculation 1% 69.66
And how does it compare to the 401k and other retirement plans that exist? A Simple IRA, or Savings Incentive Match Plan for Employees, is a type of employer-sponsored retirement savings plan that is designed to be easy to set up and maintain for small business owners. What is a Simple IRA? Benefits of the Simple IRA vs 401k.
As a result, they were left holding valuable stock certificates that came with a sizable tax bill they couldnt pay. In these cases, the taxes owed would be triggered earlier than expected, which could disrupt the employees financial planning. Broad-based equity plan: At least 80% of U.S.-based
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