Today, it's easier than ever to go online and get all kinds of information about the latest mutual funds or other investment opportunities. Plenty of people use self-serve retail brokerages and apps to manage a portfolio by themselves. But while there are benefits sometimes to going it alone, there are certain situations where having a dedicated financial advisor you can sit down with in person might be a good idea. Here's why you might want to form such a relationship with someone today.
- In handling wealth management issues, it's common for clients to ask professionals how much effort they should put into either preserving or growing their wealth. To a certain extent, growth is a preservation method in wealth management planning. However, it's wise to seek an appropriate balance between the two and to recalibrate your approach as circumstances change. Let's look at how a wealth management advisor helps a client accomplish this.
- Do you take advantage of the gift tax exclusions on your taxes? If you're not already aware of these IRS provisions, the chances are that you're not using them to their full effect. Doing so, though, benefits you in a variety of ways. Here's what you need to know. What Are the Gift Tax Exclusions? You may not realize that large gifts to individuals are subject to the federal gift tax, paid by the donor.