Fairman Group’s Next Nest: Volume 3

The Next Nest series features a fictitious family—the Carlsons. In the last issue, James, age 60, an executive with a publicly-held company headquartered in the Philadelphia suburbs and Jeanne, age 58, owner of a small public relations firm, received news that their first grandchild was on the way and sought ways to financially help their children and future grandchild. Now they find themselves in the dead of winter, wondering when they will be financially secure enough to spend their winters someplace warm. Have they saved enough money for James to consider stepping down from his high-paying, high-stress position?

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Fairman Group Explains What Each Financial Title Actually Means

It might make sense to seek advice from a financial professional, so you start your research. Unfortunately, this results in a myriad of confusing titles: Financial Consultant, Financial Advisor, Advanced Retirement Specialist, Wealth Manager, Retirement Counselor, Financial Planner and other variations on the theme. It all seems like a name game.

Since investments are an integral part to your overall plan, a good approach may be to sort prospective advisors by the legal standard of care to which they are held. Those who are acting as a broker or sales agent are held to a “product suitability” standard. This group typically consists of stock brokers and life insurance agents, whose primary function is that of a salesperson; investment advice is merely incidental to their role.

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The Asset Allocation Balancing Act by Fairman Group

You see and hear it everywhere: Individual stock or fund performance is the most important element of investing. To Fairman Group, this approach is counterproductive to long-term financial success because study after study has concluded that the critical factor is the ‘mix’ of stocks, bonds, and other assets owned. This mix, called asset allocation, is vital to the success or failure of your investment plan.

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Fairman Group’s Investment Fundamentals for 2019

Here in the U.S., we celebrate the New Year with the Times Square Ball Drop. In Japan, ‘Bonenki’ (forget-the-year parties) are held to bid farewell to the problems and concerns of the past. In the Netherlands, the Dutch burn their Christmas trees in large bonfires—to purge the old and welcome the new.

It seems that investors also have an annual New Year’s tradition—that of cleansing and purging their portfolios. They eagerly await publication of various mutual fund ranking reports. Armed with this data, they rush to analyze their portfolios and prepare a list of ‘must have’ funds selected based on last year’s performance. As a result, their current investment holdings are divided into two camps: “Winners” and “Dogs”. 

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Fairman Group Suggests Top Questions to Ask a Tax Advisor

The 2018 tax season will be here soon. Have you experienced a life event such as retirement, a divorce, a move, a job change, or a transfer of wealth in the past year? In these situations, seeking the professional advice of a qualified tax advisor may be a given. When interviewing a qualified tax advisor, Fairman Group Family Office suggests that you ask the following 5 questions to gain valuable insight into the quality of relationship you can anticipate and how it will impact your overall financial health.

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Fairman Group Provides Important Year-End Tax Income Planning Updates

As the leaves continue to fall and your thoughts turn to family and the holidays, consider what you can do—this year—to lower your tax bill. To help you get ready for tax season, Fairman Group Family Office has prepared some important information regarding: Standard vs. Itemized Deduction Changes, Qualified Business Income (QBI) Deduction, Section 179 Tax Deduction for Businesses, Elimination of Entertainment Expense Deductions, Tried and True Ways to Manage Taxable Income.

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Fairman Group Family Office Informs Readers About Donor Advised Funds

Before the new Tax Bill, Fairman Group’s advisors and tax professionals would often get questions about charitable trusts and foundations for those looking to donate substantial assets to charities or looking to create a family legacy. However, now that the new Tax Bill has raised the bar for itemized deductions to $24K for married couples filing jointly, many more individuals should now learn about and consider Donor Advised Funds.

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Fairman Group Publishes Top 5 Questions to Ask Your Financial Advisor Regarding Portfolio Risk

If you are preparing for a meeting with your financial advisor—whether as part of an ongoing relationship or exploring a potential new advisor—there are some questions you should ask in order to more deeply understand your risks. Use Fairman Group Family Office’s 5 questions as a backdrop for a meaningful discussion about your financial health and future, so that you can become a truly informed consumer.

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Fairman Group’s Next Nest: Volume 1

Are you an Empty Nester planning your Next Nest? If you are ready to retire, entering a second career, caring for aging parents, or have adult children, you won’t want to miss Fairman Group Family Office’s fictional series about the financial challenges, opportunities and gotcha’s regarding second homes, out-of-state residency, remodeling and moving to the city.

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