There is an abundance of turmoil and unpredictability in the markets these days. Most investors are confused by the different types of advice on how to invest and diversify their portfolios.
Women are taking more control and initiative when it comes to financial planning. There are ways women can take control andWhen working with financial advisors, it is essential to know the difference between an independent investment advisor that is a fiduciary and a typical financial advisor. An independent investment advisor is not selling you products to invest in. As you are paying for financial advice, this often leads to the best financial advice you can get for your portfolio.
A common and basic error that is repeated over and over again is the improper titling of accounts. For instance, clients may have an estate plan that outlines joint vs. separate property, but if the account titling does not reflect that, the estate plan could be compromised. Common mistakes also include wrong names listed as beneficiaries on IRAs and other retirement accounts, or in some cases, no beneficiary.