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If your tax refund this year was disappointing, you may be able to do something about it: Contribute more to a retirement fund. And few of us do these days: Only about 1 in 10 taxpayers is expected to itemize now that Congress has nearly doubled the standard deduction, tax experts say. In addition to increasing standard deductions, the tax law enacted in December 2017…

April 18– Apr. 18– BEVERLY– An investment adviser who recently moved his offices to Beverly has been hit with a complaint by state regulators, charging he hid his own interest and failed to disclose other relevant information to investors in proposed cannabis startups. Frederick “Rick” McDonald Jr. of Manchester, the chief executive of US Advisory Group Inc., was…
Making a special effort to listen can improve the relationship for both advisor and client.

When we begin new projects and work with new experts, we can easily make the mistake of assuming how things will work. We assume that a new partner will tell us everything we need to know up front, but that’s usually not how the dynamic will play out. What can we learn as advisors?

If you are planning to retire sometime in the next several years, then you should stress test your plans— living arrangements, retirement portfolio and income and anticipated leisure pursuits— because retirement is like your first days in kindergarten, full of surprises. In our 40 s and 50 s, as the pressures of college tuition, aging parents perhaps approaching…
A college student finds a creative outdoor campus spot to do classwork.

Nearly 10 percent of those polled carry more than $50,000 in student loan debt, and 37% more than $15,000. That is not surprising when you consider the total amount of student loan debt in America is in excess of $1.5 trillion and impacts 45 million people. The downside is 36% say they cannot save for retirement.

A former East Millinocket woman, who became the largest single lottery winner in U.S. history in 2013, is suing her son for allegedly mismanaging her $278 million Powerball jackpot. An attorney for 90- year-old Gloria C. Mackenzie, who now lives in Florida, said in a 40- page lawsuit that her son and caretaker, Scott Mackenzie, and his investment…

April 12– Apr. 12– Three businessmen who built a real-estate empire on the backs of investors from South Florida to Southern California were arrested Thursday on charges of orchestrating a $1.3 billion Ponzi scheme that swindled thousands, authorities said. Retired doctors, teachers and at least one high-profile investor– ABC News anchor George…
Should Americans be worrying about debt and taxes?

More than half of Americans say they’ d earn a“ C” or lower when it comes to financial literacy, according to a new survey conducted by Harris Poll on behalf of Prudential Financial, Inc.. “Our industry needs to drive home the importance of financial education, and lead the way in providing it, to help clear a path toward financial wellness,” said Caroline Feeney, head of…

April 10– Local mutual fund giant Vanguard will launch an extremely low-cost commodities mutual fund, but the minimum investment is $50,000. Vanguard’ s new mutual fund– filed with the SEC under the name Vanguard Commodity Strategy Fund– is expected to charge 0.20 percent annually, a bargain-basement price compared with PIMCO’ s Commodity Real Return Strategy…

As more people are living into their 80 s and 90 s, more than one out of every two Americans has their sights set on even greater longevity. According to a survey 1 released today by AIG Life& Retirement, a surprising 53 percent say their goal is to live to 100 years. “Living longer should be a cause for celebration, but for many, longevity can bring anxiety and financial…

Janney Montgomery Scott LLC, a leading full-service wealth management, capital markets, and asset management firm, added 14 Financial Advisors to its Private Client Group in the first quarter of 2019. “Janney had another successful quarter recruiting leading Financial Advisors with experience and expertise in all aspects of wealth management,” said Jerry…
Many seniors are worried about running out of money in retirement. Annuities are one option to prevent that from happening.

Just one-third (31 percent) of middle-income baby boomers feel well prepared for retirement. That makes this year’s National Retirement Planning Week, which began April 8, the perfect time for agents everywhere to reassess their approach to retirement planning with their clients.

–As April 15 th approaches, and the reality of the most dramatic tax reform package in nearly three decades becomes clear, the Registered Investment Advisors and fee-based advisors who say that the majority of their clients will benefit from tax reform have declined 10 percentage points— to 69 percent in 2019 from 79 percent in 2018. But as our latest Advisor…

–As it continues to expand the reach of its Advice-Centric Experience ®, Cetera ® has entered into a definitive agreement to purchase select assets of Foresters Financial’s U.S. broker dealer and advisory business. The business will operate as a distinct division of Cetera, with a separate and distinct management team led by Sean Casey, reporting to LeAnn…
Mobile technology can help agents track info and be better protected.

Nearly all U.S. financial advisors are using social media for business and/or personal use at this point, with 83% using it for business purposes. Additionally, the advisor community self-reports a high level of proficiency when it comes to their social media capabilities, with 61% now describing their skill level as “expert.”

Moreover, three out of four advisors said fear is the primary current motivator for their clients, a 74% increase since October 2018. “While market volatility and politics can be distractions, leading advisors find time to help clients understand their personal tax situations and implement smart tax-management solutions for their portfolios,” said John…
A sound financial plan can leave retirees with the money to live out their bucket list.

We spend a lot of time daydreaming about and planning how to achieve our goals. Charting a new career, creating a bucket list, helping a loved one reach success and other goals all have financial implications that deserve consideration. This is where a financial plan comes in.

Are you ready to retire? According to a recent Gallup poll, nearly half of all non-retired Americans are concerned they will not be financially comfortable when they retire. Understanding where you are, where you need to be and how to bridge the gap is critical for living the retirement you envision.

While the Department of Labor fiduciary rule is gone, tossed out by a federal appeals court one year ago, the compliance spotlight it shone on commission annuity sales remains. If the industry doesn’t figure out how to effectively provide distribution of annuities via advisory channels, “sales are just going to fall off a cliff,” one executive says.

April 05– Apr. 5– A former Springfield financial adviser who was found guilty of stealing more than $150,000 from a 99- year-old Jerome woman was sentenced to 7 1/ 2 years in prison Thursday in Sangamon County Circuit Court by Associate Judge Rudolph Braud. Vaughn Henry, 67, who founded Henry and Associates in 1977, faced up to 15 years in prison on counts of theft…

–For most families, caring for mom or dad as they age is not a family effort. According to new data from Northwestern Mutual’s latest C.A.R.E. “Families are fundamentally changing in ways that impact how they’re able to care for aging parents,” says Dave Simbro, senior vice president, risk products, Northwestern Mutual.

COLORADO SPRINGS, Colo. and PROVIDENCE, R.I., April 3, 2019/ PRNewswire/– A new national survey by Junior Achievement USA and Citizens Bank shows that more than 30 percent of teens do not believe they will be financially independent of their parents by the age of 30.. The survey of 1,000 US teens ages 13-18, who are not currently enrolled in college was conducted by…

To help clients navigate the sometimes-confusing required minimum distribution process while also enhancing their financial legacy, Allianz Life Insurance Company of North America today announced the launch of its Legacy by Design℠ fixed index annuity solution. Legacy by Design is a combination of two FIAs that work together to systematically and…

The head of the International Monetary Fund says the global economy is at a “delicate moment” with a hoped-for rebound in growth later this year being threatened by a variety of factors from such as rising trade tensions. IMF Managing Director Christine Lagarde says the IMF does not have a recession in its updated forecast to be released next week as long as policy missteps are avoided.

To help Americans improve their financial lives, members of the American Institute of CPAs’ National CPA Financial Literacy Commission share the following tips. Credit Card Debt Rising Stat: As of December 2018, total U.S. consumer credit card debt is $870 billion, the highest total ever, according to the Federal Reserve Bank of New York. Tip: Use Credit Cards…

What would happen if you lived eight 12 years longer than you had planned when you retired 20 30 years ago? Will your ” nest egg” be enough to main your currently lifestyle. Sadly, seniors are lapsing their life insurance at an alarming rate-approximately $112 billion annually.
In honor of Women's History Month, here's a short list of the pioneering women of the financial services industry.

March is Women’s History Month. As such, it’s the perfect time to celebrate the historic women who paved the way for all of the women currently working in the financial services industry by acknowledging the triumphs and obstacles they faced and sharing their stories.

Principal Financial Group issued the following news release, dated March 26:. Principal Financial Group (R) launched the Principal Guaranteed Option, a new addition to its suite of fixed income investment options focused on capital preservation and return. “Whether navigating volatile markets or needing more predictability and stability in a portion of a…

March 28– Mar. 28– Clients of a well-known Charlotte financial adviser are accusing him of selling unregistered financial instruments issued by a Florida firm charged with fraud. But he said Heafner also has money “tied up” with the Florida firm, 1 Global Capital. Bridgmon said Heafner was also an investor in the securities the Florida firm was issuing.

Today we will do something similar and talk about several important parts of Medicare and Social Security. We discuss Social Security several times a year because it is such an important part of retirement planning. When we were estimating their SS income, over a normal life expectancy for each of them, they will collect between $925,000 and $1,050,000 in…
Tax bills might take more time to calculate this year due to the Tax Cuts & Jobs Act.

The lower tax rates set by the Tax Cuts & Jobs Act means income taxes are “on sale,” says Deborah A. Miner, a tax expert and executive with Western & Southern Financial Group Distributors. Clients and advisors who take proactive advantage could see their retirement nest eggs expand significantly.

New York State Comptroller Thomas P. DiNapoli issued the following news release:. Securities industry profits in 2018 were 11 percent higher than the previous year, but the average bonus paid to industry employees in New York City declined by almost 17 percent to $153,700, according to an estimate released today by New York State Comptroller Thomas P. DiNapoli.