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How these financial advisors are using social media to grow their business

How these financial advisors are using social media to grow their business

Finance
Petri Oeschger | Moment | Getty ImagesOne of the best ways financial advisors can bolster their credibility and reach potential clients is available for free.It's called social media.However, merely joining Twitter and Facebook won't cut it, according to Dasarte Yarnway, founder of Berknell Financial Group in San Francisco.He shared his views about building a brand on social media at the Wealth/Stack conference in Scottsdale, Arizona. Yarnway also hosts "The Young Money Podcast.""Outside of opening the account, you need to join the conversation," he said. "Engagement is key; finding your voice is the second thing."Used correctly, social media can provide financial advisors with an outlet to showcase their expertise, network with their peers and meet potential clients."We really look at soc...
Here’s how many people tapped their retirement plan to buy a house

Here’s how many people tapped their retirement plan to buy a house

Finance
Tony Anderson | DigitalVision | Getty ImagesSome people will do just about anything to buy their first home.Just under 10% of homeowners surveyed by Bankrate.com, a personal finance website, said they took out money from their retirement savings to help cover the down payment and closing costs on their first dwelling.The site polled a total of 2,582 adults from July 31 through Aug. 2.Nearly half saved money specifically toward their home purchase, while another 20% said they received a financial gift from family and friends.The median sales price for a home is $ 320,300, according to the Federal Reserve Bank of St. Louis, which can make the recommended down payment of 20% — what you'll need to avoid the additional cost of private mortgage insurance — a heavy lift for new buyers.Millennials
Stocks look to reclaim their all-time highs in the week ahead

Stocks look to reclaim their all-time highs in the week ahead

Finance
Stocks will look to build on their strong recent momentum and reclaim their record highs next week amid a slew of economic data while trade war fears decrease.The S&P 500 is about 1.6% from an intraday record reached on July 26 after notching back-to-back weekly gains. The broad index is up 1.8% this past week after surging 2.8% in the last week of August.Wall Street's move toward all-time highs comes as recent U.S. economic data suggests a recession may not be in the cards, and the Federal Reserve is expected to cut interest rates later this month. Easing fears around the U.S.-China trade war are also lifting investor sentiment. If the data remains solid, Fed rate cut expectations stay high and U.S.-China trade tensions lower, the market could climb back to all-time highs."You cannot ...
Four ways for college students to control their health-care costs

Four ways for college students to control their health-care costs

Finance
PeopleImages | DigitalVision | Getty ImagesStudents and their families are grappling with the cost of higher education, but here's one expense that might be a surprise: health care.The default option for many college students — especially if they're under age 26 — might be to remain on Mom and Dad's insurance, yet that may come with additional costs.For starters, will a parent's plan adequately cover a college student if he or she attends school out of state and has only out-of-network providers available? "If it's all out of network, it might be worth looking at other alternatives," said Scott Frank, a certified financial planner and founder of Stone Steps Financial in Encinitas, California.Before making changes to your medical coverage, assess your available options based on the monthly