Month: October 2019

Managing Your Response to Behavioral Biases

Written by Jeff Diamond on October 15, 2019.

In the investment business terrain, there truly is no such phenomenon as a “sure thing,” and this is the reason our goals-based planning method takes into account the natural unpredictability of the market. In order to arrive at a safe middle ground, our strategy endeavors to invest assets in a way that even the worst of market situations have a less than total effect on any one portfolio. While there is no guarantee, prudent and science-based investing can help our clients weather the storm during market declines and benefit from the growth during periods of market upticks.

Human nature being what it is, however, we anticipate the anxiety that can lead clients to respond hastily during market corrections. Unfortunately, these premature panic responses can jeopardize a long term strategy, and significantly hurt a portfolio.

Behavioral biases can negatively affect our financial decisions, but there are ways to harness the power of optimism and manage your responses in a positive, confident manner, despite the inevitable pressures you may face financially over the course of your life.

The following is a demonstration of how a pragmatic approach to managing your behavioral biases can function to prevent your negative auto-responses during times when your confidence in your finances is strained.

Was It Worth It? Advisors Reflect on Joys and Pains of Moving

Written by Zachary Morris, CFP® on October 14, 2019.

by: John Kimelman

Reading the trade press and the almost daily deluge of advisors jumping from firm to firm, you might think switching firms is a quick and easy task.

But regardless of whether you’re going independent, joining another wirehouse or shifting to a regional firm, moving presents enormous risks to advisors who want to preserve their book of business and transition assets while also avoiding legal trouble from their former firm or ending up at the wrong place.

Three advisors who moved since last summer and agreed to speak to AdvisorHub about their move generally report that the process has gone smoothly thanks to careful planning, patience in dealing with unexpected surprises and a loyal client base who was willing to follow.

Paces Ferry Featured In: How to Manage Your Money After Kids, According to 15 Financial Advisors

Written by admin on October 9, 2019.

by: Matt Berical

Everything changes when you become a parent — especially your finances. You want to make sure to start off on the right financial footing. But, financially speaking, where do you begin? What’s the best financial advice new parents need to know?

Are You Getting the Most Out of Your 401(k)?

Written by Zachary Morris, CFP® on October 2, 2019.

If your employer offers a 401(k) plan, you likely know two things about it: 1) you can automate investment of a portion of each paycheck to make saving easy, and 2) whether or not your employer offers matching contributions (i.e. free money).

Outside of this basic information, 401(k) plans can be a bit confusing for the average investor. The financial jargon alone can be enough to deter you from investigating the best way to protect and grow your money over the long-term. This is one of the main reasons so many people leave their retirement accounts on auto pilot, failing to learn ways to enhance their earnings. If you’d like to avoid this fate, information is key.