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Tag: advisors

It’s key to get ahead of the 2018 tax season: Advisors

It’s key to get ahead of the 2018 tax season: Advisors

Finance
The new federal tax-reform law made some substantial changes to the U.S. tax code and obviously has a major impact on American taxpayers' financial plans.We spoke with several members of the CNBC Digital Financial Advisor Council and had them weigh in on strategies they are recommending to their clients based on the new tax law.The new law will affect millions of taxpayers in 2018, when most of the provisions kick in. That's why understanding how it will impact you is so important, these advisors said. Planning now can help you sidestep some pitfalls while maximizing your returns next year, they explained."It's an individual thing on how it impacts people," said Ron Carson, founder and CEO of Carson Wealth Management Group. Since the tax law changes will have an impact next year, Carson sa...
Market shocks should be a wake-up call for investors: Advisors

Market shocks should be a wake-up call for investors: Advisors

Finance
A period of very calm and quiet trading has lulled investors into a sense of complacency that, by some measures, has not been seen in years, according to some financial advisors.The recent sharp movements in markets have been a wake-up call for complacent investors, experts say. From February 2016-January 2018, volatility in the stock market was non-existent. Then, volatility came roaring back in February, as investors aggressively sold stocks after an incredible run. And now, some investors are concerned that the recent sell-off on Wall Street might get much worse and eventually that could trigger a recession.While many financial experts believe the current sell-off in the global markets is a "minor correction," some pundits see the increased possibility of another recession in the United...
Advisors not up to speed on blockchain technology will get left behind: Experts

Advisors not up to speed on blockchain technology will get left behind: Experts

Finance
If you're a financial advisor, chances are you're not using blockchain technology and not even sure how to define it.But you could be missing one of the biggest developments poised to disrupt the entire financial services industry, according to some financial experts.Blockchain technology was developed to serve as the backbone for the bitcoin cryptocurrency.But the blockchain is rapidly gaining popularity as people realize its value as a mechanism for executing transactions without the oversight of a third party or central bank, said Magdalena Ramada, senior economist at Willis Towers Watson, in a presentation at the Technology Tools for Today Advisor Conference in Fort Lauderdale, Florida.The blockchain is defined as a digital distributed ledger, or registry of information, according to R...
Advisors are offering ‘fatally flawed’ advice to clients, advisor says

Advisors are offering ‘fatally flawed’ advice to clients, advisor says

Finance
If you're a financial advisor who is still giving clients advice based on today's life expectancy and goals, chances are you need to go back to the drawing board."Most of the advice you are offering is fatally flawed, and I would even argue criminally negligent," Ric Edelman, founder and executive chairman of Edelman Financial Services, told attendees at the Technology Tools for Today Advisor Conference in Fort Lauderdale, Florida, on Wednesday."If you continue to give the advice to your clients that you are currently giving them, you will soon be out of business," Edelman said.Rapid technology advances coupled with changing life plans will fundamentally alter the way we live. And most of the financial plans that advisors come up with for clients are stuck on outdated expectations, said Ed...
Trump reportedly 'hell-bent' on imposing steel tariff despite objections from most advisors

Trump reportedly 'hell-bent' on imposing steel tariff despite objections from most advisors

Finance
President Donald Trump's White House is "hell-bent" on imposing tariffs on steel and other imports, Axios reported FridayThe plan — which was pushed by Commerce Secretary Wilbur Ross and was supported by National Trade Council Peter Navarro and policy adviser Stephen Miller — would potentially impose tariffs in the 20 percent range, according to the report.During a "tense" meeting Monday, the president made clear he favors tariffs, yet the plan was met with heavy opposition by most officials in the room, with one telling Axios about 22 were against it and only three in favor, including Trump.The White House did not immediately respond to CNBC's request for comment, but White House Principal Deputy Press Secretary Sarah Huckabee Sanders said Trump hadn't made a final decision on steel tarif