Financial Planning

How to avoid 6 habits that could wreck your finances

Bad spending habits — everyone has at least one of them. Maybe for you it’s adding “just one more thing” to your shopping cart, or repeatedly getting …

Money

Daughter of Detroit business owner scammed out of inheritance by Shelby Township financial advisor

<b>DETROIT</b> - Fired financial advisor Ernie Romer III remains in the Macomb County Jail, facing two felony counts of embezzlement.<p><b>READ: Shelby Township</b> …

How To Set Up Your Emergency Fund

Your emergency fund can help you cover the cost of life’s unpleasant surprises like medical bills, car repairs or even job loss. Without one, these unfortunate situations could be even worse, as you could face some tough decisions when things don’t go according to plan.<p>Do you turn to credit card …

Personal Finance

Blockchain: Unchained

<i>Attracted by the promise of lower costs and stronger security for a range of transactions, financial institutions are testing Blockchain’s potential.</i><p>Distributed ledger technology is still very young—it needs time to mature. Blockchain began life as this technological prodigy. People expected great …

FinTech

Setting Advisory Fee Minimums: Best Practices For Advisors

Executive Summary<p>Setting proper client minimums is an important practice management issue that every advisor needs to consider. For many advisors, …

Finance

Help Simplify Your Financial Life Through Consolidation

<i>Suffering from “account sprawl” because your various accounts are housed at many different financial institutions? It may be more of a problem than you realize.</i><p>Managing numerous financial streams and expenses can be complex and can hinder the ability to effectively track cash flow.<p>Many of us have …

Personal Finance

The secret to being a great saver

<i>"What's the difference between 'paying yourself first' and saving money?" -- Ayesha</i><p>Paying yourself first is a way to save money. In fact, it's <i>the best</i> way to save money.<p>The trick is that rather than setting extra money aside, you're saving for yourself and your future goals right away, <i>before</i> …

Money

3 Questions That Can Provide A Spark For Your Financial Plan

I’m a financial planner, and I have a confession to make. During the early stages of my career, I didn’t really have my own personal financial plan. Sure, I may have had some good intentions and most of the meaningful aspects of a financial plan were in place such as a budget, insurance, and …

Money

When it comes to divorce, not all assets are equal

It might be the only thing the two sides in a divorce can easily agree on: it's no fun.<p>On top of the emotional toll, financial missteps during the …

Retirement

Strategically Outsourcing Your Middle Office

Outsourcing non-core company functions, like an advisory firm’s middle-office, can be a very strategic and competitive decision.<p>The benefits of …

Business

Getting your kid to bank summer earnings

NEW YORK (Reuters) - Linda Rogers' father set her up for retirement when she was just a teenager.<p>Her summer pay from waitressing was hers to keep, as long as she deposited the first $500 into a Roth IRA at the local credit union.<p>"It was non-negotiable," said Rogers, now 35 and a certified financial …

Business

Wealth Management for Underserved Client Groups

From a focus on delivering holistic solutions to smaller families to helping women in transition<p>Faith Xenos<p>• Founding partner of Singer Xenos Schechter Sosler Wealth Management, Coral Gables, Fla. • Education: University of Miami • Professional Designation: Certified Financial Planner<p>Background: …

Coral Gables

94% of Americans failed this financial quiz—here are the 4 hardest questions

The majority of Americans feel good about their financial health. A recent survey by financial services company Financial Engines found that over 47 …

Retirement

A financial planner gives advice to a 24-year-old with $80,000 in student loans

<i>Dear Carrie,</i><p><i>I'm 24 and came out of school with $80,000 in college loans. I've been luckier than most of my friends and have a full-time job, but I'm wondering whether I should pay off my loans before I start saving for retirement. What do you think?—A Reader</i><p>Dear Reader,<p>This is a great question and …

Money

Robo Advisors: A Personal Look At 3 Plans

A one-year check on Betterment.<p>Limited performance data is encouraging.<p>Disadvantages of Robo Advisors.<p>Dual Momentum as an alternative.<p>Who will manage …

Finance

These 10 questions will help you find out your “money hygiene” score

The Equifax data breach taught us that “identity hygiene” is more important than ever. But what about your overall “money hygiene,” or how well set …

Personal Finance

Helping Adult Kids Without Creating Dependence | Investopedia

I was one of those moms who insisted her kids do chores. Not just five minutes worth, but a number of regular daily chores. We did this to develop of …

Personal Finance

Giving up a pension for a lump sum | Biz Brain

Debating between a monthly payout and a lump sum that could be invested.

Retirement

Why Money Matters in a Marriage | Investopedia

"For better or worse, richer or poorer, till death do us part." For those of us who have had the privilege of reciting this to our spouse did we …

Marriage

At 35, a young dad strives to save $4,000 a month

Adam Ligman has it all: a nice home, great job and a super-cute wife and kids.<p>“I’m fortunate because we’re able to get what we need,” says Ligman, 35, an area sales manager at Intuitive Surgical, a maker of robotic surgical systems, in Pittsburgh. “Sometimes, the extras have to wait, but savings …

News (U.S.)

Get the biggest bang for your investment adviser bucks

<b>Q: I hate paying fees when I don’t have to. Currently, I’m paying my investment adviser a “wrap fee” of 1% on my $500,000. This means each year I’m paying him $5,000. I’m struggling to justify the fee, especially since my portfolio is matching market returns and not beating market returns. As far</b> …

Money

Ellevest raises $34.6m to end the gender money gap

Ellevest is a fintech that is on a mission to end the gender gap in investing and personal finance.<p>Ellevest, the fast-growing New York fintech led by …

Startups

How Will Historians Describe Today's Economy? Financial Advisors' Daily Digest

BeatlesRockerTom on the conclusion of his 10-part series on America’s changing economics.<p>Jeff Miller: Will a more aggressive Fed finally trigger the …

Business

How much money do I need before I start investing?

Would you lose sleep over the amount you plan to invest if it got wiped out in a market crash?<p>If your answer's 'yes, it would devastate me …

Money

Your Financial Adviser Charges What? Understand the Value of Advice

Here's a breakdown of how compensation for financial advice works, and what kinds of services you can expect to receive for the price you pay.<p>If you …

Retirement

Why You Need a Personal Financial Plan to Build a Great Business

A personal plan can do more than just keep your own money in order.<p>I believe all Americans need a financial plan. I've built a business on this passionate conviction, so clearly, I'm biased here.<p>But it's particularly true for small business owners -- whether you're an entrepreneur with the next $20 …

Small Business

Differentiating The Next Gen Of Financial Planning Software

Executive Summary<p>Financial planning software has changed substantially over the years, from its roots in demonstrating why a client might “need” …

Money

Four Core Strategies For Cultivating Affluent Investors

From robo-advisors to fee compression, financial advisors are increasingly feeling the pressure. At the same time, the high-net-worth market is proving to be optimal for a number of reasons including:<p>• The number of affluent is increasing at a greater pace. Also, the amount of wealth they control …

Entrepreneurship

Robo-advisor is not a bot

About This Course<p>New technologies have the potential to grow the economy and make society more equal. On the other hand, inequality in an access to …

Robo-advisors

3 Apps That Will Help You Grow Your Savings Effortlessly -- The Motley Fool

Ready to start saving more with minimal effort? These free apps are here to help.<p>Want to save more money? There's an app for that.<p>There are dozens of …

Investing