We typically put a high amount of trust in our doctors for our personal healthcare needs. An M.D. is a certified medical doctor, who has gone through years of intense study in his/her field, adheres to a code of ethics and owes a fiduciary duty to patients. Yet, when it comes to personal finance and people’s life savings, consumers are often either tricked or remiss when it comes to hiring an adviser that adheres to a similar standard of care.
Technology is always evolving, and keeping up with security advice can be confusing. The guidance on securing your digital world can appear complex and overwhelming. While the details of how to stay secure may change over time, there are fundamental things you can always do to protect yourself.
With an increasingly digitalized world comes an unfortunate increase in scams and cyber theft. We have recently become aware of several cyber security issues facing our clients that we would like to bring to your attention. Below are several common cyber and technology scams we urge you and your families of which to be mindful.
At the risk of stating the obvious, it has been a wild couple weeks for the stock market. Since August 17th, U.S. Large Cap stocks have declined by nine percent, wiping out all year-to-date gains. Foreign equities, especially those of emerging markets, have been hit even harder.
Investment Planning and Execution: How Stable Is the Strategy? Bottom line, how is your adviser managing your money?
In the previous two pieces in our series, “Doing Due Diligence on Your Financial Advisor,” we offered some ideas on how to check out an adviser’s background, and why we would suggest that the first hurdle to overcome when selecting an adviser is to ensure his or her advice is of the highest, fiduciary standard.
In the medical profession, physicians practice according to a familiar standard: “First do no harm.” There should be a similar level of commitment for anyone who wants to advise you about your financial well-being, right? Unfortunately, wrong. Financial advice is subject to a double legal standard: “fiduciary” versus “suitable”advice.
It’s time to address a challenging subject: In selecting or retaining a financial advisor, how do you know if you’re making a wise choice?