Tag: Financial Planning

Cybersecurity – Protecting Your Information

Posted on by bbatchelor

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Summary

Last year it is estimated that there were over 14 million victims of identity theft and fraud. Here is a list of 10 rules that can improve the safety of your information.

  1. Create a secret email address for financial accounts.
  2. Create strong passwords.
  3. Enable 2-Step verification on your email and financial accounts.
  4. Use Wi-Fi with extreme caution.
  5. Secure your home Wi-Fi network.
  6. Set up instant text or email alerts.
  7. Freeze your credit and protect your children.
  8. Update your software.
  9. Back up files to avoid ransomware.
  10. Take time to examine email messages and inspect links.

Goals-Based Planning – Is it a free pass for your advisor?

Posted on by bbatchelor

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Summary

  • In theory, goals-based planning for clients makes a lot of sense. Make long-term goal achievement a priority relative to account performance.
  • Our concern is that the original intent of goals-based planning has morphed into a potentially self-serving interpretation for some financial representatives.
  • We believe the financial advice industry still needs to make significant strides towards better transparency for client account performance against a suitable benchmark.
  • Many things can be gleaned when performance is examined relative to a benchmark such as fees, suitability of investments and alignment of stated goals relative to portfolio structure.
  • Good or bad, your advisor “owns” the performance of your investment portfolio.  Ask questions and demand thoughtful answers.  Don’t give them a free pass.