5 Posts in this category
Posted By: CFP&WM On: Jul 8th, 2009 In: General info Investing My soap box

If you Invest There is One Thing You Gotta Know

If you don’t know anything else about investing, the one thing that is paramount to know is the different legal safeguards and standards of care depending upon from whom you receive your financial advice.

You have three options for receiving investment advice:

1) Registered Investment Advisor (RIA). According to state and federal law anyone providing financial advice for a fee …

Posted By: CFP&WM On: Jun 24th, 2009 In: Beware - Horror stories General info Investing My soap box

Reasons to Avoid Financial Advice At a Bank

In the good old days a bank was a bank. It was where you deposited your paycheck, had a savings account and got a car loan. Laws were changed (due to heavy lobbying by the banks) to allow them to sell investment and insurance.

Most banks now have a subsidiary company/partner that is a Broker Dealer (BD) and the financial …

Posted By: CFP&WM On: Jun 22nd, 2009 In: Financial planning Investing My soap box Retirement planning

Do Not Stop Funding Your 401(k)!

Regardless of what’s going on in the economy and the stock market, do not stop funding your 401(k) accounts!

Most workers with 401(k) plans have viewed their retirement savings as having trickled away with the current stock market plunge.  In addition, 25% of US employers have or are planning to eliminate 401(k) matching contributions as a way to make it …

Posted By: CFP&WM On: May 28th, 2009 In: Investing Money Matters

State Farm Rejects CFP Consumer Safeguards for their Agents

Americans don’t learn about finances in school but rather from the school of “hard knocks” (experience). When it comes to finances, many turn for help. The problem is virtually anyone can be called a financial advisor, including stockbrokers and insurance salesman.

Recently, the CFP Board, put stricter standards in place by requiring Certified Financial Planning practitioner to “always place the …

Posted By: CFP&WM On: May 28th, 2009 In: Financial planning General info Investing My soap box

Bank of America is at it again!

A client recently called me and was shocked that the annual interest rate on the money market sweep account at Bank of America Investment Services is currently at 0% interest. Most other money markets are currently paying less than 1% interest.

Banks, and credit unions and mutual fund companies offer money market accounts.  These accounts consist of very short-term debt …