The upcoming election is prompting some people to reconsider their investment strategy. In fact, 45% of consumers with $100,000 or more investable assets expect to make changes to their portfolio due to the upcoming 2020 presidential election.1 But if history is any guide, patience may be the answer. For the past 12 presidential elections, the… Read More

Once you’ve decided to have a comprehensive financial plan created, it’s a good idea to narrow down your choices to two or three providers. Then you should arrange to have an initial meeting with each finalist to determine whether there’s a good fit between you and the advisor. In fact, many financial planning firms want… Read More

The amount of money you have set aside for retirement can make you feel either secure and happy, or nervous and fearful — or more likely, a shifting mix of these and other emotions. For some people, their emotional relationship with their money is so powerful and complex that they’re unsure what their best path… Read More

When it comes to how you behave around money, and specifically your financial behaviors around investing money, instinct is not always a good guide — in fact, it often drives one to take exactly the wrong action. Working with a financial advisor is a great way to counteract this tendency, because they can help you… Read More

Every financial planning client is unique, with their own financial needs, resources, and concerns. That being said, there are fundamental strategies for smart financial planning and, conversely, common mistakes to avoid. In this chapter, we’ll share some thoughts about some of the most common financial mistakes people make. 1. Lack of asset diversification Many people… Read More

Making your financial advisor selection is similar in many ways to the way you select any service professional: you want someone who is capable, dependable, and honest. Those traits are all at the core of choosing a financial advisor, as well as some additional considerations. To decide whether someone is worth your trust, your instinct… Read More

Auto dealers today are using their reinsurance companies to accomplish goals that earlier, less flexible reinsurance models couldn’t help with. Traditionally, dealers only expected reinsurance premiums to cover the costs of warranty claims and cancellations. However, reinsurance administrators now offer reinsurance programs with greater flexibility — not only in terms of what types of financial… Read More

One of the most overlooked — and least understood — aspects of auto dealer reinsurance is the investment policy statement (IPS). It may seem like dry, legalistic fine print, but it’s actually the one document that will most affect how well your reinsurance company meets your needs. And just as it’s important to understand any… Read More

Creating your own reinsurance company involves several players, including your agent, reinsurance program administrator, and financial advisor. The stakes are high and the reinsurance process is somewhat complicated, so it pays to be aware of the common mistakes other dealers make  — and avoid repeating them. Not understanding your investment policy statement (IPS) One of… Read More

In the past, if your vehicle manufacturer ran what is known as a retro account (which some people confuse with actual reinsurance), they paid you a certain amount for each warranty you sold. You received that money as ordinary income, either at the dealership or personal level, and it was taxed accordingly. Essentially, all you… Read More