August 22, 2019. By Olga Okaty: Every day roughly 10,000 people retire in the United States, and this number is steadily increasing year after year. Average census projections predict that by 2030 this number will increase to around 12,000 people daily, as the boomer generation reaches retirement. According to U.S. News, a Gallop poll determined that the average American worker expects to retire around age 66, but actually retires in some … [Read more...]
Behind the Scenes: Client Service and Reporting
July 25, 2019. By Courtney Summa: When someone asks me what my role entails at Centerpoint Advisors, my general response is that I work primarily on the reporting side of investment management, even though my responsibilities include much more than report preparation. As Customer Service and Reporting Associate, I also lead the maintenance of our reporting software, the organization and distribution of tax documents, and work directly with our … [Read more...]
Client Notice: Tax Documents and Trusted Contacts
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...]