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MYTH: Trump’s Social Security Tax Holiday Will Help Employers and Their Employees

Well, this is a solid myth, that’s for sure.  Smart and ethical CPAs are recommending that their clients not just walk, but sprint away from the Memorandum Deferring Payroll Tax Obligation.  Let me preface this by declaring that I’m not an attorney and that all of this is my opinion.  But I can read and …Read More


Follow Your Gut

I want to profusely thank Brian Love for his excellent Behavioral Finance article in the latest issue of Financial Advisor IQ (The Incredible “Shrinking” Advisor).  Love’s article reiterates why the most important aspect of our profession is not securities analysis or projecting rates of return.  So I title this post with the myth that you should …Read More


All Financial Advisers Are Screened by State and Federal Regulators

I hope it isn’t getting too redundant for me to remind you gentle readers that the headings of these posts are MYTHs.  This one is no exception.  Sort of. Depending on who they work for and the kind of work they do, financial advisers are indeed somewhat screened by regulators.  After all, there are education, …Read More


ADVISERS DON’T MAKE ANY DIFFERENCE

Well, according to a recent survey by John Hancock Retirement Plan Services (as reported by the American Retirement Association) there is “an impressive retirement preparations gap among those who use the services of a financial advisor”(sic) and those who do not. Here are some stats: Regarding 401(k)s, those with advisers were more than twice as …Read More


ADVISERS DON’T MAKE ANY DIFFERENCE

Well, according to a recent survey by John Hancock Retirement Plan Services (as reported by the American Retirement Association) there is “an impressive retirement preparations gap among those who use the services of a financial advisor”(sic) and those who do not. Here are some stats: Regarding 401(k)s, those with advisers were more than twice as …Read More


THE DEVIL IS IN THE DETAILS

This blog heading is colloquially true, especially when it comes to Investment Adviser contracts.  A recent review of compliance violations found- first of all- that 22% of advisers didn’t have contracts with their clients.  A contract isn’t required unless a fee of some kind is collected from or owed by a client.  So if you …Read More