401k Fiduciary Responsibility

October 7th, 2020

Any Individual or entity with discretionary authority over a 401(k) plan’s administration or investments is considered a “fiduciary” to that plan. 401(k) plan fiduciaries ordinarily include the employer, trustees, and investment advisers. Attorneys, accountants, recordkeepers, brokers and insurance agents are generally not fiduciaries. The key to determining whether an individual or an entity is a […]

3 Red Flags Your 401k Provider Hides From You

September 22nd, 2020

Overpaying for a 401(k) could lead to serious consequences like being sued or postponing retirement. Business owners do this all the time. They’ll hire a 401(k) provider without fully understanding their fees. Even when they know that paying excessive 401(k) fees could get them sued or force plan participants – including themselves – to work […]

Employer Fiduciary Responsibilities

September 16th, 2020

Whether large or small, employers that provide a retirement plan all face one common risk: Fiduciary Responsibility. Employers that provide a retirement plan have a fiduciary responsibility to keep the plan in compliance with the Employee Retirement Income Security Act (ERISA). Due to the complex  regulatory rules, plan sponsors can often find it difficult to […]

Shore Financial Planning’s Investment Philosophy

September 15th, 2020

PASSIVE INVESTING = Academically Oriented  Investment Philosophy which is grounded in Modern Portfolio Theory.  This philosophy emphasizes broad diversification of risk which leads to increased return. ASSET ALLOCATION to help ensure Long-Term Investment Success. We develop an appropriate asset allocation strategy that is customized to meet the goals and time horizon for each client. Research […]

3 Questions You Should Ask

August 31st, 2020

Are your recommendations truly in my best interest? Imagine going to your doctor with a concern about your heart. Before running any tests, the doctor tries to sell you a pacemaker. The doctor then explains that you need to act today before prices go up. Later you learned that the doctor was paid extra to […]

3 Reasons the Certified Financial Fiduciary = CFF is a JOKE

August 18th, 2020

As a licensed Certified Financial Planner, I’m always refining my skillset so I can bring as much value to my clients as possible. Being able to assess the holistic financial well-being of a client, as well as identify favorable tax opportunities is crucial to their financial success. Because CFP’s are held to such high standards, […]

Three Ways the Financial Media Deceives You

August 5th, 2020

Watching financial news on CNBC or Fox Business can whip anyone into a frenzy. The loudmouthed hosts, alarming headlines, and fear over missing out on a “hot stock” can make even the most disciplined investor anxious. However, it’s crucial to know that these outlets are primarily motivated by selling advertisements and luring in consumers. They […]

What Is a Credit Score

July 28th, 2020

Having a good credit score is imperative for your financial health. It allows you access to many savings and benefits along with loans and credit cards that can come with valuable perks. We’ll cover the three fundamentals of credit scores: What a credit score is and how is it calculated How to improve and maintain […]

Best Way to Protect Your Identity

July 21st, 2020

How to protect yourself from would-be identity thieves Credit freezes are better than credit monitoring, or anything else Freeze Your Credit ASAP Freezing your credit with all three major credit bureaus is the single most important thing you can do to protect yourself against identity theft and stop criminals from opening lines of credit in […]

10 Biggest Mistakes To Avoid When Hiring a Financial Advisor

July 13th, 2020

Knowing when to hire a financial advisor If you want to build wealth and optimize your financial life, hiring a financial advisor can be a smart move. Unfortunately, not all financial advisors are equal – not by a long shot. And if you hire someone who isn’t qualified, you could wind up worse off than […]