AdviceIQ Articles

  • Advisors and Compliance Costs

    One of the major costs of operating a financial planning firm is regulatory compliance. This is meant to keep clients safe. But sometimes advisors must curtail our services to clients as a result.

    “I’m the auditor, and I’m here to help you.”

    Now there’s a phrase to send cold chills down anyone’s spine. It doesn’t matter whether you’re a taxpayer, a company with government contracts, or a financial planning firm. Having an auditor show up feels a lot like being one of the Three Little Pigs and seeing the Big Bad Wolf on your doorstep.

  • Do the Math for Your Budget

    What’s the best method to sort out the twin barrage of messages chiding you to save more and urging you to spend more? Doing the math over the long term is a good start.

    How often do you see articles containing money-saving tips? Make dinner more often and eat out less, rent movies rather than go out to them, bring lunch to work rather than visit a restaurant, take advantage of coupons and brew your coffee rather than hitting Starbucks?

  • Mortgage Rate Outlook: Up

    The Federal Reserve’s efforts to ease interest rates also pump up housing, because more people can afford mortgages, are a great plan – but what happens when the Fed stops? Mortgage rates head up.

  • Reverse Mortgages: Trickier

    Would-be homeowners long turned to the Federal Housing Administration for affordable mortgages. That’s also true for older folks and reverse mortgages, which they use to supplement their income by tapping the equity value of their homes. But the agency is tightening the terms on these loans.

    Expanded loan volume paired with what some suggest is a decrease in loan quality have led to increased defaults and depleted FHA reserve funds.

  • Empty Nesters: Downsize?

    The day has finally come. Your children graduated from college and started their first jobs. But more importantly, they no longer live with you or depend on you financially. So how do you downsize your home, now that you need less of it?

    Downsizing your current home lets you cut down on house maintenance and property taxes. However, while part of it seems quite liberating, it can also be a bit scary leaving the house you lived in for the last few decades.

    Here are a few things to consider as you contemplate this next chapter of your life:

  • Riding Out Market Shocks

    Everybody’s got an opinion about investing. Here’s what a former exec of one of the world’s biggest mutual fund companies says about Wall Street shocks, dice-rolling fund managers and tricks of timing the market.

  • Business Succession: A How-To

    Most business owners agree they must plan to pass on their business. Most business owners also admit they have no such plan. How to make sure you do have such a plan?

    According to Manufacturing & Technology eJournal, “An estimated $6 trillion of personal wealth will be transferred over the next 10 years consisting primarily of privatively held or family owned businesses. Once the founder is gone too often the family business gets squandered away.”

  • Challenging Your Business Plan

    The first step to starting a business is to make a good plan. The second step is to get other people to challenge it. Only then can you know its shortcomings, and make corrections.

    Recently at my firm, we cleaned out an old storage room. That brought up forgotten memories and emotions. Our team found pictures from the very beginning of my career in the financial services industry.

  • Fear: Biggest Threat to a Plan

    The only thing your goals, life and financial plan have to fear is fear itself. Here’s how to keep your perspective.

    Steve Jobs, founder and brains behind Apple (AAPL) endured a long battle with pancreatic cancer. The following is a Steve Jobs quote toward the end:

  • How to Use Obamacare

    The news coverage about Obamacare focuses on the political fight surrounding it. But for you, the most important thing is to understand it and see how, or if, the new health-care law applies to your life.

    The opening date was Oct. 1. Competition is lined up for bronze, silver, gold and even platinum. These competitors aren't athletes, but insurance providers. The field they are entering is the new health insurance exchanges that Obamacare mandates.


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