A Holistic Approach to Wealth Management
Wealth management is not a new term. Most people have heard about this concept but are unclear what exactly it encompasses. So we ask, “What separates a wealth manager from an investment advisor?” If you’re unsure how to answer this then you are certainly not alone. In fact, a recent study by leading consulting firm, CEG Worldwide, concluded that out of almost 2,100 so-called wealth management firms across the country only 7% were truly engaging in actual wealth management. The rest were...
Read MoreWhat’s an RIA? Why Should You Care?
A Registered Investment Advisor (RIA) is a professional advisory firm that offers personalized financial advice to its clients, many of whom are affluent. Why might an independent RIA be a good choice for an investor?Many independent RIAs work with complex portfolios and address unique needs that require a highly customized level of investment management strategy and consultation. Many independent RIAs are owned by the individual advisors who run them. RIA firms have a fiduciary duty to act in...
Read MoreA Once in a Lifetime Opportunity: Taking Advantage of Increased Gifting Exemptions
Only one year remains for the greatest gift giving opportunity since the gift and estate tax laws were enacted. Have you made plans yet to take advantage of it? As most of you know, in December 2010 Congress shocked almost everyone by increasing the exemption from federal gift taxes from $1 million to $5 million. This law is scheduled to expire on January 1, 2013 when the gift tax exemption is supposed to return to $1 million. Assuming that we return to gift and estate tax rates of 50%, and a...
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