As financial advisors juggle an onslaught of challenges from fee compression to the urgent need for viable succession plans in a fast-aging industry, few think to apply remedies they urge on clients every day, practice management consultant and ex-FA Hoon Kang writes for Advisor Perspectives But they should, Kang urges. After all, they’re out there helping clients “transcend” wealth and invest in “lives fully led.” So why shouldn’t they take time to consider exactly what — beyond just money — they want from life and work But when Kang asks advisors such questions in his capacity as a succession planner, most have no clue what to say. “If I had to guess,” he writes, “they’ve never…
The Biggest Money Mistakes Rich People Make
Wealthy people have a reputation for being good with money. However, even rich people can make poor decisions with regard to their finances. “I've documented some horrific money blunders some smart, wealthy individuals always seem to repeat,” said Tom Corley, who spent five years studying the money habits of the rich for his books, “Rich Habits” and “Change Your Habits, Change Your Life.” “You would think they’d know better, but they don’t.” Whether you're currently a member of the 1 percent or simply aspire to join this fortunate group, it's important to learn the best ways to manage your money. If you want to keep more of your pennies, avoid these financial foul-ups even rich people make.
Geopolitical black swans are the stock market’s biggest risk
President Trump’s unpredictability and eagerness to upset the apple cart, especially internationally, raise the chance of a crisis-induced market swoon, says Howard Gold.
Why choose a CPA for all your tax needs?
Everyone knows about CPAs, right? Although you may often hear friends talk about meeting with their CPAs at tax time or when they need critical advice, in fact many people are not...