When it comes to getting advice with your money, are you suspicious of financial advisors? How can you find one that you trust? We received another question from our Ask a Planner campaign on Facebook last week asking “Is Edward Jones looking out for the best interest of clients? Is it best to rather use a fee based CFP®?” Continue reading “Should You Use a Commission Based Advisor?”
I often like to question much of the conventional wisdom of the financial services industry so I was intrigued when I saw this article titled “The four most useless things financial advisors tell you” by Howard Gold. Instead, I found myself questioning most of the conclusions in the article itself as pretty useless (with one exception). Let’s take a look at each of these “four most useless things:”
Continue reading “The Three Most Useless Things a Financial Columnist Tells You”
There’s been a lot of buzz recently on the idea of investors using robo-advisors to manage their investment portfolios rather than human advisors. If you are not familiar with the term, a “robo-advisor” is an online financial advisory service that uses a basic investment philosophy to create software programs that can manage a person’s investment portfolio automatically. The argument for using this type of approach rather than a human advisor goes something like this: if an investment portfolio using fundamental investment strategies can be implemented automatically with a computer, then why pay for human involvement? Continue reading “Is Robo Advising Right For Me?”
The week of October 7-13 marks the 12th annual Financial Planning Week that was designed by the Financial Planning Association to create awareness of the importance of having a personal financial plan. In the spirit of promoting a profession that we love, the Resident Financial Planners at Financial Finesse will be writing about our experiences providing workplace financial education. Continue reading “The Life and Times of a Financial Educator”
While I don’t generally watch tv or even own one, I have to admit that I’m a huge fan of one particular show: The Apprentice, which is currently on the verge of the finale of its All-Star Celebrity Season. While the show has its share of mindless reality tv entertainment, there are lessons that can be derived from it, not just for the business world that the show is based on (albeit loosely) but for our own personal financial lives as well. Here are some financial lessons from this season’s celebrity firings: Continue reading “10 Financial Lessons From the Celebrity Apprentice”
As a sports fan, I see a lot of sports–related items in the news, on Facebook, on my Twitter feed…all over the place. Not too long ago, ESPN aired a special called “Broke” about athletes that earned tens of millions of dollars during their careers who are now completely broke. A lot of people have expressed a bit of shock and disbelief that someone who earns $10,000,000 or more in a short career can have nothing left just a few short years after their playing days are over. Continue reading “Why It’s No Shocker When Athletes Go Broke”
Crime. Drama. Tension. Suspense. All of these things sell a lot of books, draw a lot of TV viewers and sell a whole lot of movie tickets. And the whole industry makes a lot of money. Continue reading “Crime Pays! (Well…At Least Writing About It)”
Much to the chagrin of dentists everywhere, Tootsie Roll has been a staple of the candy business for a very long time. This article talks about the Tootsie Roll Company being a very secretive organization. (And we thought it was just the CIA that operates in relative secrecy)! Tootsie Roll doesn’t give tours, they don’t give interviews to analysts and they don’t operate with much transparency. It’s as if they have some magical mystery formulas that they don’t want the rest of us to know. Continue reading “The “Secret Sauce” Behind Successful Investing”
When it comes to investment planning, sometimes it pays to get a little help (or at least a second opinion). But what are the best options for providing guidance to employees and how does online advice fit into the mix? Retirement plan participants have a variety of options available when seeking help regarding their investment selections. Professionally managed accounts, target-date mutual funds, online advice, and the use of financial advisors outside the retirement plan are some of the most common sources of investment guidance employees typically utilize. While these tools are proven to be effective, there is still a need to increase usage rates in order to improve the confidence employees feel relating to the way their investments are allocated. Continue reading “Do Employees Need (or Even Want) Help with Asset Allocation Decisions?”
I’m not a big fan of reality TV shows, but I have to admit that I enjoy watching The Apprentice. What I think I enjoy most about the show is the no-nonsense way Donald Trump approaches the decision of who to fire. He doesn’t look at how hard they try, how smart they are, how they dress, or what school they went to. In the end, it simply boils down to getting the job done. Continue reading “You’re Fired: The (Financial Advisor) Apprentice”
