Congressional inaction has caused the future of the estate tax to remain in a state of great uncertainty.
This short video explains some background on how we got here and some planning implications that might affect you.
Recently, there has been some internet buzz about the possibility of ETFs "collapsing" based on borrowing and short-selling activity.
This conjecture stems from a lack of understanding of the ETF "creation and redemption" mechanism as well as a misguided notion that multiple investors might be able to redeem the same shares.
For a full treatment of this subject, read the Vanguard article, Can an ETF collapse?.
New Social Security Figures -- October 15, 2010 The Social Security Administration recently announced changes for 2011, including: Copyright 2010 Forefield Inc.
John Gay, CFP® was recently named by his colleagues to the D Magazine List of the Best Financial Planners in Dallas-Fort Worth (DFW). John has appeared on the list previously in the Dec. 2006 and Jan. 2009 issues of D Magazine.
Frisco, TX: September 20, 2010 — John Gay, CFP®, a Certified Financial Planner(tm) practitioner in the Dallas suburb of Frisco was named by his peers in the October 2010 issue of D Magazine as one of the Best Financial Planners in Dallas-Fort Worth.
D Magazine surveyed over 1,000 Certified Financial Planner(tm) professionals in the DFW metroplex and asked them “to which financial planner would you send your close family members?” The resulting list includes 76 planners. Previous years lists included 68 planners in 2009, 69 planners in 2008, 87 planners in 2004 and 106 planners in 2002.
John Gay, CFP®, CLU, CEBS, has been advising individuals and families on financial matters for over fifteen. John is a member of NAPFA, the largest association of professionals dedicated to fee-only financial planning. John has contributed to articles in the Wall Street Journal, Newsweek, Investment News, Kiplinger Personal Finance, and other local and national publications.
John serves as the Director of the Dallas-Fort Worth (DFW) branch of Kingdom Advisors, a national association of Christian financial advisors. He has completed in-depth training on all facets of Biblical financial principles under the teaching of Ron Blue, President of CFPN, and notable Christian financial planner and author (and contemporary of the late Larry Burkett, founder of Crown Financial Ministries).
John Gay’s firm, Frisco Financial Planning LLC, offers its financial planning services on a “flat-fee, pay as you go basis” and does not impose any minimum income or net worth requirements on its clients. The firm is compensated solely by its clients and receives no payment from third parties or through commissions from the sale of financial products. As a Registered Investment Adviser governed by the Investment Advisers Act of 1940, the firm has a legal fiduciary duty to serve the best interests of its clients.
Frisco, Texas is one of the fastest-growing cities in the country and is located twenty minutes north of Dallas near Plano, McKinney, and Allen.
About D Magazine: D Magazine is a long-time fixture in Dallas with over 250,000 monthly readers. D is one of the best-selling magazines per capita in the United States on local newsstands. Known for its devotion to editorial quality, D Magazinehas been named the “Best City Magazine” in the nation three times in the past five years by the City and Regional Magazine Association. Recently, D Magazine won five of the Press Club of Dallas 2005 Katie Awards, including the awards for “Best Magazine” and the “Visual Communications Award for Magazine Design” for the March 2005 issue.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.
According to a recent survey,
Many investors are confused about which financial professionals are now held to a fiduciary standard, the survey also found. Three out of five investors surveyed mistakenly believe that insurance agents have a fiduciary duty and two out of three believe that stock brokers are held to that standard, the poll found. In addition, 75% of respondents indicated they believe the fiduciary standard applies to financial planners, and 77% indicated they believe it applies to investment advisers.
Yet,
Of survey respondents, 91% indicated they believe that a stock broker and an investment adviser who provide the same kind of investment-advisory services should have to follow the same investor-protection rules.
Almost all respondents--97%--indicated that a professional who provides investment advice "should put your interests ahead of theirs and should have to tell you up-front about any fees or commissions they earn and any conflicts of interest that potentially could influence that advice."
In addition, 96% of respondents agreed that the fiduciary requirement should extend to insurance agents who sell investment products.
Despite this (because of this?), the brokerage and insurance industry lobbyists are fighting the "fiduciary standard" harder than ever. So, don't fight city hall. Leave. Refuse to work with any financial firm or individual that isn't required by law to put your interests first. It's a short list. I am accepting new clients.
