February 27, 2019. By Courtney Summa: With tax season upon us and accountants quickly filling their schedules, we wanted to provide an update regarding the delivery of your tax documents and the recent request for trusted contact designations: Tax Document Delivery Status: With some deadlines mere months away, we understand the importance of delivering the tax documents related to your Centerpoint accounts and portfolios in a timely manner. … [Read more...]
Exchange Traded Funds or Mutual Funds?
August 23, 2018. By J.D. Wolfsberg: No one can accuse the financial world of being predictable. As the landscape continuously changes, so do the investment vehicles and products offered. Many investors feel they are better off purchasing a fund or ‘basket’ of securities rather than purchasing individual stocks, effectively competing against those with expansive expertise in the markets. There are certainly benefits to owning these baskets of … [Read more...]
Repost: Is it Time to Schedule Your RMD
Original Post: August 23, 2016. By Lori Patterson: Lori originally posted this article in 2016 but yet again here we find ourselves in the tail-end of summer 2018 in need of a good reminder about Required Minimum Distributions. Read more for what you need to know about RMDs: It is hard to believe another summer will soon be behind us and the fall season is a mere weeks away. As it adds color to our landscape, the autumn also adds … [Read more...]
Yields on Money Market Funds are Moving Up-Finally
July 17, 2018. By John Wolfsberg: It wasn’t too long ago that yields on most money market funds were essentially zero. In fact, had most mutual funds levied their full management fee on these types of funds the yield would have been negative! When the financial crisis hit in 2008 the Federal Reserve responded by drastically reducing interest rates and embarking on an extensive bond buying program. Their goal was to drive interest rates so … [Read more...]
The Importance of a Power of Attorney
April 13, 2018. By Matt Okaty: A Power of Attorney (POA) is an important planning item that will generally be included in any comprehensive estate plan. While a Last Will and Testament directs how your assets will be distributed after you die and assigns an executor or personal representative to carry out your wishes, a POA gives an agent of your choosing the authority to oversee your financial affairs while you are alive, typically if you … [Read more...]
Understanding Target Date Funds
March 6, 2018. By Mark Barry: A target-date fund (also known as a life cycle fund) is a mutual fund in the hybrid category that automatically resets the asset mix of stocks, bonds and other investments according to a specific time frame. Typically, this time frame is years until retirement. For example, a 2030 Fund would be intended for investors who expect to retire in the year 2030. The underlying holdings are typically comprised of a number … [Read more...]
Choosing the Right 529 Plan for Education Savings
March 1, 2018. By Olga Okaty: With higher education costs continuing to rise dramatically and over forty-five plan options to choose from, it is essential for families to be thoughtful and strategic in selecting the 529 plan that best aligns with their particular circumstances and needs. There are multiple factors to consider during the 529 plan due diligence process, including tax incentives, investment options, asset allocation trajectory, … [Read more...]
Client Notice: Tax Document Delivery Update
January 29, 2018. By Courtney Summa: As tax season is now upon us and with some deadlines mere months away, we understand the importance of delivering the tax documents related to your Centerpoint accounts and portfolios in a timely manner. Additionally, we are happy to coordinate delivery directly to your CPA as we have done in the past to streamline your tax planning efforts. Kindly note that in the coming days and weeks Fidelity will be … [Read more...]
Guest Blog: Trust & Estates Alert- Tax Cuts and Jobs Act
January 9, 2018. By Ashley Agnew: As part of our services, we often quarterback the coordination of tax and estate planning professionals on behalf of our client's needs. This includes but is not limited to: retitling of accounts, annual gifting execution and administration, will and power of attorney creation, notary services, trust administration, and form distributions. In speaking with such professionals regarding the recent Tax Cuts and … [Read more...]
Inheriting Individual Retirement Accounts
January 3, 2018. By Lori Patterson: IRA (Individual Retirement Account) owners have the option of listing one or more beneficiaries and the percentage of the assets they will leave to each heir. Depending on the relationship of the owner and the beneficiary of the assets, the heir will have different options available for receiving this type of inheritance. As such, the beneficiary may receive assets in the form of an inherited IRA and … [Read more...]