CFP Board News

As many long time readers know, I have been a consistent cheerleader for the CFP® certification that I hold from the Certified Financial Planner Board of Standards, Inc. That’s why I am delighted to announce that I am assuming a new role, “Senior CFP Board Ambassador.” Just like I do in this column, I will provide consumers with timely personal financial advice, explain how current economic and financial news impacts their lives and underscore the importance of having a financial plan.

Trump’s Next Shake Up: The Fed

Get ready for the Trump administration’s next shakeup…the Federal Reserve. As Fed Chair Janet Yellen heads into her semi-annual testimony before Congress this week, she knows the score--this is probably the penultimate appearance at what is likely to be a historically short term for a Fed Chair. Yellen’s term as Chair expires in February 2018 and during the campaign, candidate Trump said that he would “most likely” replace her, because “She is not a Republican."

BlogMark TalercioFebruary 11, 2017Central Bank, Daniel Tarullo, Fed, Fed Chair, Federal Reserve, Janet Yellen, Trump

Fiduciary Fallout: Ten Questions to Ask a Financial Pro

Now that the Trump Administration has declared its intention to delay and potentially roll-back the Department of Labor’s fiduciary rule, which would force financial professionals and their firms’ overseeing the nearly $3 trillion in retirement savings, to work in their clients’ best interest, it may be a good time to review your relationship with your current advisor, stock broker or insurance salesperson. Here is an updated list of my “Ten Questions to Ask a Financial Pro”:

DOL Fiduciary on Life Support

The Department of Labor's fiduciary rule faces two hurdles: a lawsuit and now, the Trump Administration's efforts to delay or perhaps kill it off. On Friday, President Trump signed an order directing the Treasury secretary to review the 2010 Dodd-Frank financial regulatory law. You remember Dodd-Frank, the big legislation meant to reign in the excesses of Wall Street after the financial crisis, right?

BlogMark TalercioFebruary 4, 2017DOL, DOL Fiduciary, Employment, Fiduciary, Fiduciary vs suitability, Jobs, Labor Market, Unemployment

Fiduciary Under Fire

Shame Definition, according to Merriam-Webster:

a : a painful emotion caused by consciousness of guilt, shortcoming, or impropriety b : the susceptibility to such emotion <have you no shame?>
2: a condition of humiliating disgrace or disrepute : ignominy <the shame of being arrested>
3a : something that brings censure or reproach; also : something to be regretted : pity <it's a shame you can't go>b : a cause of feeling shame

Will Trump Bump Hold?

20,000 may just be a number, but it's a big, round one. It took 42 days for the Dow Jones Industrial Average to move from 19,000 to 20,000, the second fastest thousand-point rise in the history of the index. (The quickest occurred in 1999, when it took just 24 trading days for the Dow to rise from 10,000 to 11,000.) The most recent leg up in the market has been referred to as “Trump Bump,” because the index has jumped by about 9 percent increase since Election Day.

Tax Prep 2017

Tax preparation season opened on January 23 and once again, due to a Washington DC holiday, the tax -filing deadline is April 18th, rather than April 15th, so procrastinators will have an extra three days to dawdle. For early bird filers, there is also good news: under provisions of the 2015 Protecting Americans from Tax Hikes (PATH) Act, employers are now required to file their copies of Form W-2 and certain 1099-MISC for independent contractors to the Social Security Administration, by January 31.

BlogMark TalercioJanuary 27, 2017eFile, Free File, IRS Scams, tax fraud, Tax Prep, tax scams, Taxes

The Obama Economic Legacy

As President Obama leaves office, it’s time to reflect on how the economy fared during his tenure. Because of the size and complexity of the U.S. economy, I have generally believed that presidents take too much credit or blame for what occurs on their watch. In many cases, bad luck or good fortune can play a larger role in a particular president’s economic performance than actual policy.

2016 Job Market Roundup

How was the job market in 2016? With the final employment numbers of 2016 now in, it’s time to award medals to various components of the labor market.

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