Rick's Weekly

Serving As Personal Representative? Make Sure You Know The Role

Being a personal representative is an honor, yes, but as discussed, with that honor comes great responsibility, often at a time when one would rather be grieving, or spending time with family, rather than dealing with banks and lawyers and everything else that comes with estate management. If you are asked to be someone’s personal representative, make sure you are prepared, and your loved ones are prepared for the role you will need to step into during an already difficult time. [...]

Is Your Investment Portfolio On Thin Ice?

Imagine yourself in the middle of a cold, frosty ice-covered lake. Not solid ice... I’m talking about thin ice that is beginning to crack. What is your best move? Even if you haven’t found yourself on thin ice (literally) we’ve all seen the videos of cold-water rescuers sliding along the ice on their stomachs, distributing their weight over a wide area. [...]

Financial Fitness For 2017 And Beyond

Those questions, although simple, are critical to doctors. They use those questions to establish a baseline for how they will conduct the rest of the appointment and their advice and recommendations moving forward. An appointment with your financial planner works the same way. There are specific things about your life, your spending habits, and your future plans that are critical to the plan that your advisor will lay out for you. [...]

The Financial Year In Review

First, let’s review the new Department of Labor rule that will bring significant changes to the financial industry. That “headline-making” rule imposes a fiduciary standard on all advisors who are getting paid to provide investment guidance on any kind of retirement account (401(k), IRA, Roth IRA, Simple IRA, SEP IRA, et cetera). Previously, that fiduciary standard was imposed only on financial advisors who deal with employer-sponsored plans covered under the federal statute, ERISA, or who are licensed as Investment Advisor Representatives. Once the new rule becomes effective and is implemented, which is expected to be sometime in the first half of 2017, all advisors must act in the best interests of their clients if they are offering investment advice on any kind of retirement account. [...]

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