William F. Davis, CFP® An investor’s chances of doing well in the financial markets are significantly improved if they keep advisory fees to a minimum. Over a long period, high management fees and related expenses can have a significant drag on wealth creation. Let’s examine the magnitude to which the cost of a financial advisor (even if they charge … Read more
It does not sound like much, but these two words, fiduciary versus suitability, are critical to determining the type of care and investment advice you receive from your financial professional. Fiduciary standard vs. suitability standard of care What is the difference between fiduciary and suitability? In a nutshell, fiduciary advisors have to put the client’s … Read more
There is talk of the fees associated with investing in mutual funds, but much less clarity on the question of how high is too high a mutual fund fee. In this blog we’re going to discuss what mutual fund fees are composed of, what the average mutual fund fees are, and what is too high. What is … Read more
What financial advisor should charge as fees is a topic of much debate. Unfortunately, there is little centralized reporting of data on what average financial advisor fees are. Here is our take, based upon industry data and our anecdotal experiences as financial advisors. Does the cost of financial advice matter? Yes, absolutely. What it costs to work … Read more
Whenever we hear the topic of form K-1 discussed, it’s always explained using highly technical language that is almost impossible for the average investor to decipher. We’re taking a much better approach. Here’s our clearly explained guide to the K-1 tax form, including an explanation of what the different parts of the K-1 mean, as well … Read more
While there is much written about what they do, there is very little offered up to answer the question of what do financial advisors cost. In this article we will discuss: Finding a good, cost-effective financial advisor How do financial advisors earn money? Wealth managers are paid through advisory fees, which can be charged a few … Read more
Most investors don’t want to know much about Form 1099 other than when and how they get it. In this blog we’ll answer the question of when you can get your 1099, how you can do so, and how your 1099 plays into your overall tax return. 1099 fax form delays can be a pain … Read more
The question of if financial advisors are fiduciaries can be confusing. In this article, we will clearly discuss the different types of financial advisors, define what a fiduciary is, and clarify which advisors within the industry fit into this category. What is a financial advisor? A financial advisor is a professional who renders guidance which may include, … Read more
Low-cost ETFs are a popular choice for many investors. In this article, you’ll learn the benefits of investing in low-fee Exchanged Traded Funds, what makes a good one, and how to tell if an ETF is low-cost or not. What is an ETF? To offer a simple definition, an ETF, or Exchange Traded Fund, is a … Read more
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