Insights

You Can’t Donate a 529 Plan – But You Have Alternatives

Financial Planning

Years ago, you wisely set aside money in a 529 plan to help cover a child’s future education expenses. But what happens if your child decides not to pursue higher education...

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Fiduciary Financial Advisors: Your Guide to Smart Investing

Financial Planning

Are you looking for a financial advisor who is legally obligated to prioritize your best interests? It doesn’t sound logical that all financial advisors wouldn’t prioritize your best interests first, but...

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Navigating New Jersey’s New Retirement Plan Mandate: What You Need to Know

Business Owners

As of June 30, 2024, New Jersey introduced the RetireReady NJ program, a state-mandated retirement plan aimed at providing more than 1.7 million workers with access to a retirement savings option....

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Navigating the Post-Fed Rate Cut Environment: What’s Next for Cash, Bonds, Equities?

Financial Planning

With the Federal Reserve’s recent 50-basis-point rate cut in September followed by a 25-basis-point rate cut in November, many investors are wondering how it will impact cash, bonds, and equities.

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Haunted by Debt? Overcoming Financial Obstacles to Secure Your Retirement

Financial Planning

Managing debt is not just about paying off what you owe; it’s about creating a sustainable financial future. This involves understanding the types of debt you carry, the interest rates, and...

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The Possibility of an Economic Soft Landing: Could This Time Be Different?

Market Commentary

The U.S. Federal Reserve cut interest rates at their September meeting by 50 basis points to keep the economy growing and stabilize a weakening job market.

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Small Cap Stocks: It’s Their Time to Shine

Investment Management

You might not recognize the names of these companies or hear them talked about on the financial news networks, but small capitalization stocks (“small caps”) are an important part of an...

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Retirement Strategies High Earners Can’t Afford to Ignore

Retirement Planning

For high earners such as doctors, lawyers, and small-business owners, the immediate focus often revolves around managing an expanding career, overseeing business operations, or providing top-notch patient or client care. However,...

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Building Generational Wealth: Setting Up the Next Generation

Estate Planning

Generational wealth can create myriad opportunities for your descendants, enhancing their educational prospects, improving their earning potential, and increasing their chances for financial stability. The value of generational wealth can extend...

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Barron’s 2024 Survey Ranks HBKS Wealth Advisors Among Elite U.S. RIAs

News & Awards

Again this year, HBKS Wealth Advisors (HBKS) has been recognized as among the nation’s most prominent registered investment advisories (RIAs) by multiple industry surveys. Most recently, Barron’s, one of the most respected...

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Make A Will: Ensure Your Assets Are Distributed As You Wish

Retirement Planning

According to Caring.com, in 2024 only 32 percent of Americans have a will. That’s surprising and alarming because a will is how you can be sure your assets will be distributed...

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Retirement Planning for Divorced Couples

Retirement Planning

Fifty percent of marriages end in divorce. When it comes to second and third marriages, the divorce rate is much higher. How an ex-spouse’s pension will be distributed can have substantial...

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Protecting Your Information with a Credit Freeze

Cybersecurity

In today's digital age, protecting your personal information has never been more critical. How do you reduce your risk in situations where your personal information has been compromised due to a...

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Presidential Candidate Kamala Harris Estate Proposals

Estate Planning

Recently, Presidential Candidate Kamala Harris proposed a plan to lower housing costs that would be funded primarily with significant changes to the estate tax law and increase the corporate tax rate...

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HBKS Wealth Advisors Honors Professionals With 2024 Promotions

News & Awards

HBKS CEO Christopher M. Allegretti and COO Scott Cross are pleased to announce the following HBKS professionals have earned promotions.

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Federal Reserve building

Is the Fed Too Late, or Still on Target?

Market Commentary

July started with a return of market volatility, although markets finished the month on the upside.

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Balancing Retirement Spending: Enjoy Now or Save for Later

Retirement Planning

The debate between spending in retirement and saving for retirement is a critical one.

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529 Plan Leftovers: A New Option

Financial Planning

The U.S. Government has developed a qualified savings plan model that allows parents to stash away money and let it grow tax-free for their children’s educations.

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Financial Advisor Magazine Ranks HBKS Wealth Advisors Among the Leading U.S. Registered Investment Advisories

News & Awards

Again this year, HBKS Wealth Advisors (HBKS) is being recognized as a one of the nation’s most prominent registered investment advisories (RIAs). The recently released study by Financial Advisor magazine ranks...

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Building Generational Wealth: Getting Started

Estate Planning

Many of my clients are not benefactors of generational wealth; however, they want to make good financial decisions in order to build their own wealth, which could then allow them to...

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Match Your “Wealth Span” to Your “Health Span”

Retirement Planning

One of the ways we look at our job at HBKS Wealth Advisors is to prepare our clients for three potential life situations: dying too early, becoming disabled, and living longer...

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HBKS Wealth Advisors Again Among Nation’s Largest CPA Financial Planners

News & Awards

HBKS Wealth Advisors (HBKS) remains one of the nation’s largest CPA financial planners according to Accounting Today magazine’s ranking of CPA firms by assets under management (AUM).

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Economic Growth Continues, But Recent Economic Data Releases Show a U.S. Economy That is Slowing

Market Commentary

Growth in the U.S. economy strengthened during the second quarter of 2024, and it looks set to continue into the third quarter despite many economists predicting a recession by now. Indeed,...

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7 Financial Planning Essentials You Shouldn’t Ignore

Financial Planning

Financial planning often revolves around immediate priorities like budgeting, saving, and investing, but a comprehensive approach encompasses so much more.

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Empowering Strategies for Effective Retirement Planning for Women

Retirement Planning

While retirement planning is crucial for everyone, women often grapple with financial nuances that call for a customized approach

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Same Sex Family

Financial Planning Insights for Same-Sex Couples

Financial Planning

In 2015 the U.S. Supreme Court ruling on marriage equality provided considerable financial clarity and security to LGBTQ+ couples. Brittany Taylor discusses some financial considerations to make.

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Startup Retirement Plan Tax Credits: A Substantial Benefit You Might Not Know About

Retirement Planning

Do you know that the federal government will pay an employer to open a retirement plan for their employees? If you don’t, you’re far from alone. Responding to a recent survey...

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Building a Foundation for Financial Literacy

Financial Planning

The importance of financial literacy cannot be overstated in today’s ever-changing financial landscape. Financial literacy is more than a buzzword; it’s the foundation for creating a life of freedom and choice—untangled...

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It’s an Election Year. Do the Markets Care?

Financial Planning

It’s an election year and investors are nervous, fearing the impact on their portfolios of the next elected president. Many consider this election one of most important in history, and given...

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The Markets, The Fed, and When Bad News Is Good News

Market Commentary

The financial markets pulled back in April on stronger than expected inflation data.

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President Biden’s Tax Proposal: Unveiling the Details

Financial Planning

As we approach another national election, evaluating the candidates involves examining their proposals, among the most popular being those that impact taxes.

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Leftover 529 Funds: A Retirement Savings Option

Retirement Planning

As the year 2022 was drawing to a close, the U.S. Congress passed the SECURE 2.0 Act, an update to the Setting Every Community Up for Retirement Enhancement (SECURE) Act of...

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The U.S. Economy is Strengthening, but it is too Early for the U.S. Federal Reserve to Declare Victory

Market Commentary

The economic shutdown during the pandemic and subsequent stimulus by the Federal Government caused many supply shocks and other disruptions to economic activity.

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Navigating Financial Planning Pitfalls

Financial Planning

While everyone aims for financial security, the detailed planning needed to make it a reality often goes unnoticed.

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State Sponsored Long-Term Care Plans and Taxes: New York’s Proposal

Retirement Planning

In the realm of fiscal uncertainties, one glaring example stands out: the precarious state of Social Security. As workers diligently contribute to this safety net, the harsh reality revealed in the...

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Financial Markets and Investor Expectations

Financial Planning

This year started with another leg up in an ongoing stock market rally, led primarily by large-cap U.S. tech stocks, including Nvidia, Meta, Netflix, Amazon, and Microsoft. The increases build on...

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SEO Scam Alert: What Every Client Needs to Know

Cybersecurity

In today’s digital world, staying alert to online threats is more crucial than ever. Just like how technology is advancing, the tricks of online scammers are getting more cunning, too. Picture...

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Comprehensive Wealth Management: It’s More Than Stock and Bonds

Financial Planning

Comprehensive wealth management is not the same as investment management. It’s a great deal broader and goes a lot deeper than your portfolio. In fact, your portfolio should be the result—and...

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Balancing the Scales: The ‘Magnificent Seven’ and Strategic Portfolio Diversification

Financial Planning

The year 2023 saw a rise in seven stocks that far outpaced the performance of other U.S. equities. When you see that only seven stocks were responsible for 76 percent of...

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Building Tomorrow’s Wealth Today: A Guide to the 401Kids Savings Act

Financial Planning

The importance of financial literacy and early savings cannot be overstated, especially for our children.

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Disability Insurance: Why as a Resident You Should Consider It Now

Financial Planning

The outset of a career as a medical professional is incredibly demanding, financially as well as professionally. Residents spend 60 to 70 hours a week honing their skills, and at an...

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10 Essential Financial Considerations for Retirees

Financial Planning

The occasion of a new year can inspire us to renew our commitment to ensuring all areas of our lives are in order. Of course, I’m focused on my clients’...

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Tax Havens & Trust Laws: The Times May Be A-Changin’

Financial Planning

Tax-haven states have been around since the dawn of America, and for decades, Delaware has been reputed as the tax haven for the ultra-wealthy and corporate entities. But there is new...

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Beyond the Horizon: A Strategic Outlook for 2024

Market Commentary

Highlights from the January 25,2024 webinar featuring Brian Sommers, CFA, HBKS Principal and Chief Investment Officer.

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Financial Considerations at the Beginning of a New Year

Retirement Planning

The occasion of a new year can inspire us to renew our commitment to ensuring all areas of our lives are in order.

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Everything Went Right for the Economy in 2023, But Signs Still Point to a Recession in 2024

Market Commentary

s 2023 ended, the U.S. economy's performance was even more robust than what was projected by the most optimistic economists. Amazingly, the economy remained resilient, even after the U.S. Federal Reserve...

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Elderly Couple Holding Hands and Walking on the Beach

Required Minimum Distributions: When Your Retirement Savings Start Paying Off

Retirement Planning

Whether you're about to begin enjoying the benefits of your years of saving for retirement or just starting to contribute to a retirement plan, you'll want to know a few things...

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You’re the Beneficiary of a Financial Windfall! What Do You Do Now?

Financial Planning

A relative of a friend of mine had a run-in with serious wealth. His favorite numbers finally hit in his state lottery. He hired a limousine to show up in style...

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Financial Resolutions for the New Year: 10 Tips to Start the Year off on the Right Foot

Financial Planning

The beginning of a new year can bring excitement and a renewed sense of purpose. Resolutions are often made as many of us reflect on the past and contemplate positive changes...

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Retired couple walking on beach

IRMAA Rates Rising in 2024 with Medicare Premiums

Retirement Planning

In an attempt to keep Social Security funded, the IRS is implementing a provision called IRMAA or Income Related Monthly Adjustment. Essentially the intent is to generate funds from wealthier taxpayers,...

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HikingCouple

Planning for Retirement: What Income Replacement Rate Will I Need?

Retirement Planning

The transition from retirement saver to retirement spender can be overwhelming. A life spent earning income, deferring taxes and accumulating invested assets quickly changes to life on a fixed income —...

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2023 Year-End Tax Planning Update

Perspectives

We are coming to the end of another year filled with rising interest rates and continued market volatility, with little action from Congress to fix or extend tax provisions that could...

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Private Markets: Why Isn’t Everyone Invested?

Financial Planning

Private equity, illiquidity, hedge fund, venture capital: terms that to some translate as risky, to others are incomprehensible, and to others the sound of opportunities worth salivating over.

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Is Gen X Ready for Retirement?

Estate Planning

Born between 1965 through 1980, Generation X, often overshadowed by the larger cohorts of Baby Boomers and Millennials, finds itself at the precipice of retirement.

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Understanding the Rising Costs of Homeowners Insurance in Florida

Insurance

Homeowners in Florida have been facing a significant financial burden as the cost of homeowners insurance continues to skyrocket.

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Protect Yourself from Phishing Scams: How to Spot and Avoid Fraudsters Impersonating Financial Institutions

Cybersecurity

Phishing scams are a prevalent and persistent threat in today's digital world. According to the Anti-Phishing Working Group (APWG), 2022 was a record year for phishing with more than 4.7 million...

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The U.S. Economy Has Enjoyed a Soft Landing So Far, but a Recession is Still Probable in 2024

Market Commentary

For much of this year, the U.S. Federal Reserve’s rate hikes have caused economic growth to slow just enough for inflation to fall substantially from its peak while the employment situation...

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Exploring Florida 529 Plans

Financial Planning

A child’s education can be costly. Preparing and saving early is advisable for most people.

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Barron’s 2023 Survey Ranks HBKS Wealth Advisors Among Elite U.S. RIAs

News & Awards

HBKS Wealth Advisors (HBKS) remains one of the nation’s largest CPA financial planners according to Accounting Today magazine’s ranking of CPA firms by assets under management (AUM).

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New York State Provides Pregnancy Disability Benefits

Financial Planning

Many employers offer paid leave to women during the final weeks of their pregnancy and for a period after the birth of their child. But many others offer only unpaid leave.

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Consider Qualified Charitable Distributions for Your Charitable Giving

Retirement Planning

As someone who is passionate about giving back to the community, I am always looking for ways to maximize the impact of charitable donations.

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HBKS Wealth Advisors Promotes Professionals to Senior Financial Advisor and Portfolio Manager

News & Awards

Chris P. Allegretti and Denise Williams promoted to Senior Financial Advisor, Ethan Berkebile to Portfolio Manager.

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HBKS Among Largest in Financial Advisor Magazine’s Annual RIA Rankings

News & Awards

HBKS has placed among the top 20 percent of registered investment advisories in the U.S. in size by Financial Advisor Magazine.

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Don’t Wait Another Day: Estate Planning Tips for Middle-Aged Investors

Estate Planning

When it comes to estate planning, most middle-aged investors, which we’ll define as people between the ages of 35 and 54, tend to procrastinate.

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Will a Recession in the United States be Avoided?

Market Commentary

Earlier this year, I wrote that we expected the Federal Reserve’s rate hikes to bring about a recession around the fourth quarter of 2023.

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The Future of Finance Is Female: Why Wealthy Women Are Leading the Charge

Financial Planning

What would happen if you were mentally or physically unable to take care of yourself or your day-to-day affairs? You might not be able to make sound decisions about your health...

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Securing Your Retirement: The Power of Guaranteed Income

Retirement Planning

At a time when traditional pension plans are becoming obsolete, and with the future of Social Security persistently in question, millions of Americans are asking, “How will I secure my income...

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Leaving to Start Your Own Business? Don’t Leave Your Retirement Plan Behind.

Retirement Planning

So you’ve decided to start your own business. You’ve named your LLC and picked out office space, and the big day is approaching.

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Accounting Today Ranks HBKS Among Nation’s Largest CPA Financial Planners

News & Awards

HBKS Wealth Advisors (HBKS) remains one of the nation’s largest CPA financial planners according to Accounting Today magazine’s ranking of CPA firms by assets under management (AUM).

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Saving for Future College Costs

Financial Planning

tudent loan availability has changed over the last 20 years. Options for future generations are more limited. As well, costs continue to increase, an average of 3.11 percent annually from 2010...

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New Parents Face New Financial Challenges

Financial Planning

Becoming a parent is one of life’s greatest joys. It can also bring the most significant changes to your priorities, goals, and daily schedule that you will ever experience.

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For Gen Zers, an Unfriendly Financial Climate

Financial Planning

As a Gen Zer, you’re waking up these mornings to an unfriendly financial climate. As you are graduating from school and taking on life, you’re dealing for the first time with...

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Recency Bias in Investing: Something to Avoid

Financial Planning

Traditional economic theory held to the concept that investors act rationally, that we make rational choices in our effort to maximize profitability and achieve our investment goals.

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HBKS Economic and Market Overview

Market Commentary

Highlights from the May 4, 2023, webinar featuring Brian Sommers, CFA, HBKS Principal and Chief Investment Officer.

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The Cost of Cashing Out: Understanding the Consequences of 401k Early Withdrawals

Financial Planning

Just as a person charged with a crime is presumed innocent until proven guilty, a person over the age of 18 is presumed competent unless proven otherwise.

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Understanding the Impact of the SECURE Act on IRA and Retirement Plan Inheritance Rules

Retirement Planning

The SECURE Act of 2019 changes the way retirement plans can be passed along to an heir. Before the Act, beneficiaries of traditional Individual Retirement Accounts (IRAs) could stretch out required...

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Assigning Responsibility: Power of Attorney or Guardianship?

Estate Planning

Just as a person charged with a crime is presumed innocent until proven guilty, a person over the age of 18 is presumed competent unless proven otherwise.

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A Recession Again Appears Imminent in 2023

Market Commentary

The first quarter of 2023 was marked by so many changes in the outlook for the economy that it reminds me of last year’s most awarded movie.

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Planning for Incapacity

Planning for Incapacity

Financial Planning

Unless you're prepared, incapacity could devastate your family, exhaust your savings, and undermine your financial, tax, and estate planning strategies. Planning ahead can ensure that your health-care wishes will be carried...

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Aging Solo: Take These Steps to Ensure Your Wishes Are Met

Retirement Planning

Another generation is approaching retirement, and many of them are retiring never having been married or widowed without children.

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Sustainable Investing: Carbon Credits or Carbon Offsets?

Investment Management

In the current environment of sustainable investing, we encounter two nearly interchangeable terms: carbon offsets and carbon credits.

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Rebalancing Your Portfolio Is Key to Successful Financial Planning

Investment Management

Rebalancing is necessary because portfolios will naturally deviate from their intended allocations over time. You can become unintentionally more aggressive or more conservative as capital markets and economic climates shift.

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Taking a Bucket Approach to Asset Allocation in Retirement

Financial Planning

Managing investments in retirement is challenging enough, but steering them through volatile and uncertain times, in particular in a post-COVID world, can be harrowing.

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Silicon Valley Bank headquarters

Addressing the Silicon Valley Bank Collapse

Market Commentary

On March 8th Silicon Valley Bank (SVB), the 16th-largest bank in America, announced that it was seeking to raise $2.5 billion to provide capital after its clients had been withdrawing their...

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Be Like Water.

Market Commentary

An ode to Bruce Lee and investors in a post-Covid, hawkish Fed, rising geopolitical tension era

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Have You Conducted Your Annual Financial Health Check-Up?

Financial Planning

Your annual physical is an important appointment, a preventive care visit focused on detecting conditions that could compromise your health before they take hold.

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Roth IRAs: The Five-Year Rule

Retirement Planning

An individual retirement account (IRA) is one of the most popular ways to save for retirement, and about as easy to understand and set up. But there are also a host...

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Social Security Card

Is Your Social Security Payment Accurate?

Retirement Planning

Even Social Security can make a mistake. While errors are rare, it is important to check the mathematics and confirm the amounts on your social security checks are accurate.

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Providing for Children with Special Needs

Financial Planning

There are state and federal benefits available to help parents and their child with special needs while the child is young.

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The Secure Act 2.0: Improving Retirement Savings Options

Retirement Planning

As 2022 drew to a close, while elections and inflation were getting most of the attention, President Biden signed a consolidation of two pieces of legislation.

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Common Factors Affecting Retirement Income

Retirement Planning

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend. If you don't...

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Use A Personal Financial Notebook To Keep Family Records Organized and Accessible.

Financial Planning

Imagine having to leave your home quickly because of a fire or a natural disaster. Besides the kids, what would you grab?

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The Economy and Markets in 2023: The Consensus is Usually Wrong, Could it Be Right This Year?

Market Commentary

In trying to discern what will happen in the economy and stock market in 2023, it is easy to simply fall in line with consensus thinking.

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Interest Rates and Inflation: It’s All About the Fed in 2023

Market Commentary

At the beginning of 2022 a bullish outlook on corporate profits created expectations for a higher market, though not likely a better performance than the previous two years.

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Investing and Golf: The Two Have Much In Common

Financial Planning

If you’re a golfer, you know there are certain techniques you need to master to “go low,” from driving the ball, to hitting fairway woods and irons, to putting.

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Gen Z’s Experiences Will Shape Their Financial Lives

Financial Planning

Gen Z is the first generation to come of age in the 21st century, and they've already experienced more than their fair share of challenges.

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Accurate Budgets and Projections Are Key to Successfully Selling Your Business

Business Owners

There’s no shortage of privately owned businesses for sale, which means potential buyers have lots of options.

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10 Years and Counting: Points to Consider as You Approach Retirement

Retirement Planning

If you're a decade or so away from retirement, you've probably spent at least some time thinking about this major life change

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CCRCs and Roth Conversions Go Hand-in-Hand

Financial Planning

Transitioning to retirement is exciting, but it also comes with its own challenges. After a lifetime of saving in retirement accounts, decades of deferred taxes start coming due as you pull...

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Tax Loss Harvesting: Sell at a Loss to Offset Your Gains

Financial Planning

Throughout the year, the markets ebb and flow, rise and fall. Recent years, especially 2022, have been particularly volatile.

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Navigating New Jersey’s New Retirement Plan Mandate: What You Need to Know

Business Owners

As of June 30, 2024, New Jersey introduced the RetireReady NJ program, a state-mandated retirement plan aimed at providing more than 1.7 million workers with access to a retirement savings option....

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2023 Year-End Tax Planning Update

Perspectives

We are coming to the end of another year filled with rising interest rates and continued market volatility, with little action from Congress to fix or extend tax provisions that could...

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Accurate Budgets and Projections Are Key to Successfully Selling Your Business

Business Owners

There’s no shortage of privately owned businesses for sale, which means potential buyers have lots of options.

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Business Owners Looking to Sell Have Options

Business Owners

Are you looking to move on from your business? Whether you want to exit gradually or immediately, you have options if your way out is to sell, including selling a minority...

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Looking to Sell Your Business? Start with the Fundamentals

Business Owners

No matter the business, no matter the industry, all business owners have one consideration in common: an exit plan. Other than turning the business over to a next generation family member,...

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Employee Stock Ownership Plan: What Business Owners Need to Understand – Part 2

Business Owners

On February 24, HBKS Wealth Advisors presented a webinar offering insights on the advantages to employers and employees of an employee stock ownership plan (ESOP). The panel of experts discussed the...

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Employee Stock Ownership Plan: Understanding the Business Succession and Financial Planning Benefits

Business Owners

On February 24, HBKS Wealth Advisors presented a webinar offering insights on the advantages to employers and employees of an employee stock ownership plan (ESOP). The panel of experts discussed the...

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tax papers and calendar showing the end of the year

2020 Year-End Tax Planning Update

Perspectives

Our colleagues at HBK CPAs & Consultants, want to ensure that our clients and colleagues are aware of the many changes that have occurred over the past year, and how these...

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Advantages and Disadvantages of Self-Employment

Business Owners

You've grown tired of commuting to a job where you sit in a cubicle and do someone else's bidding. You've got a better idea, you can build a better mousetrap, you...

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Small Business Closed

SBA Loans for Businesses Suffering Due to COVID-19

Business Owners

The U.S. Small Business Administration (SBA) recently announced availability of low-interest disaster recovery loans for small businesses affected by the coronavirus.

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Small Business Owner Couple

Selling Your Business? Consider a Two-Step Sale

Business Owners

Selling your business might be the most significant and impactful financial transaction of your life. You owe it to yourself to understand and consider all your options.

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2019 Year-End Tax Planning Update

Business Owners

With 2019 coming to a close, individuals and businesses may still benefit from several tax savings strategies. Our colleagues at HBK CPAs & Consultants share the many opportunities still available and...

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On Being Successful

Business Owners

An interview with Christopher N. Sorce, CFP&, Principal and Senior Financial Advisor, as we near the 20th anniversary of HBKS& Wealth Advisors.

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Leaving Your Business on Your Terms

Business Owners

There are many ways you as an owner can exit your business. It is important to understand your options and how to prepare yourself and your business for this inevitable event....

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Business Succession Planning – Buy-Sell Agreements

Business Owners

A buy-sell agreement is a legally binding contract in which the owners of a business set forth the terms and conditions of a future sale or buy back of a departing...

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Small Business Owner

Don’t Bank Your Retirement on Your Business

Business Owners

Investing in your own business makes sense; many businesses achieve significant growth each year. However, when you consider that many small businesses fold every year, it becomes clear that banking your...

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Small business owner putting out Open sign

Benefit Plans for Small Businesses

Business Owners

If you own a small business, you may be finding it increasingly necessary to implement a benefit program to attract and retain employees. For small businesses, benefit plans generally consist of...

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Protecting Your Information with a Credit Freeze

Cybersecurity

In today's digital age, protecting your personal information has never been more critical. How do you reduce your risk in situations where your personal information has been compromised due to a...

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SEO Scam Alert: What Every Client Needs to Know

Cybersecurity

In today’s digital world, staying alert to online threats is more crucial than ever. Just like how technology is advancing, the tricks of online scammers are getting more cunning, too. Picture...

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Protect Yourself from Phishing Scams: How to Spot and Avoid Fraudsters Impersonating Financial Institutions

Cybersecurity

Phishing scams are a prevalent and persistent threat in today's digital world. According to the Anti-Phishing Working Group (APWG), 2022 was a record year for phishing with more than 4.7 million...

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Unemployment Application

Was a Fraudulent Unemployment Claim Filed in Your Name? Report it.

Cybersecurity

As COVID-19 raged in 2020 and unemployment soared to record highs, the federal government increased unemployment benefits through the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. While the additional benefits...

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Cyber attacker

Scammers Pretending to be IRS, Banks, Charities

Cybersecurity

We are in the midst of a national emergency. The government is offering benefits to victims; your new way of business is requiring new, unfamiliar technology; and uncertainty is driving you...

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Thief and Social Security Card

Spoofers, Phishers Prey on Florida Senior Citizens

Cybersecurity

Scammers can be awfully clever — and especially convincing when they claim to be from the federal government. The latest "spoofing" scam has the caller posing as an official with the...

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Phishing

Phishing Scams are Everywhere: Be Prepared

Cybersecurity

Cyber security threats are everywhere in today’s high tech world, and simply having an email account puts you at risk from the largest and fastest growing threat known as phishing.

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Woman logging on to a secure website

A Proactive Approach to Cyber Security

Cybersecurity

Implementing strong cyber security polices, protecting yourself from unauthorized access to your personal and business data, is one of the most important precautions you can take in today’s digital world. Internet...

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Guy hiding money, crossing his fingers

A Sophisticated Con Almost Nails My Dad

Cybersecurity

My father is a retired military officer with three post-graduate degrees. After 35 years of service, he continued to serve his community by testifying as an expert in toxic contamination lawsuits....

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Person Hiding Under an Umbrella

Identity Protection Solutions

Cybersecurity

The Equifax data breaches have focused our nation’s attention on identity theft protection. Not that it hasn’t been in the news for more than a decade now, but such a large-scale...

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Building Generational Wealth: Setting Up the Next Generation

Estate Planning

Generational wealth can create myriad opportunities for your descendants, enhancing their educational prospects, improving their earning potential, and increasing their chances for financial stability. The value of generational wealth can extend...

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Presidential Candidate Kamala Harris Estate Proposals

Estate Planning

Recently, Presidential Candidate Kamala Harris proposed a plan to lower housing costs that would be funded primarily with significant changes to the estate tax law and increase the corporate tax rate...

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Building Generational Wealth: Getting Started

Estate Planning

Many of my clients are not benefactors of generational wealth; however, they want to make good financial decisions in order to build their own wealth, which could then allow them to...

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Is Gen X Ready for Retirement?

Estate Planning

Born between 1965 through 1980, Generation X, often overshadowed by the larger cohorts of Baby Boomers and Millennials, finds itself at the precipice of retirement.

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Don’t Wait Another Day: Estate Planning Tips for Middle-Aged Investors

Estate Planning

When it comes to estate planning, most middle-aged investors, which we’ll define as people between the ages of 35 and 54, tend to procrastinate.

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Assigning Responsibility: Power of Attorney or Guardianship?

Estate Planning

Just as a person charged with a crime is presumed innocent until proven guilty, a person over the age of 18 is presumed competent unless proven otherwise.

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Asset Protection in Estate Planning

Estate Planning

You're beginning to accumulate substantial wealth, but you worry about protecting it from future potential creditors.

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Bond Yields Are Up. Should You Buy Bonds Now?

Estate Planning

As inflation rages and the Federal Reserve steps up interest rates, many of our investment clients are inquiring about increasing their bond positions.

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Intra-family Loans: Gift Money Now, Save on Estate Taxes Later

Estate Planning

Another busy home-buying year is upon us. Much like last year, supply is low. But so are interest rates, and many of us are more than willing to sell our houses,...

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Parents With Adult Children Sitting On Steps in Front Of House

Consider Investing Your Excess Retirement Funds Like Your Heirs Would

Estate Planning

A financial plan has a beginning, but no end. As a retiree your plan is designed to accommodate your needs and goals through your retirement. But it should also consider the...

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Inheriting Wealth

Estate Planning

You should carefully evaluate your new financial position after receiving a large inheritance. Consider the tax and investment consequences of your inheritance, among other issues. HBKS Wealth Advisor Anthony Scrocco reviews...

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A Will: Everyone Should Have One

Financial Planning

Not having a will can leave your family in dire straits. Do you have one? Is it up to date? Can you provide a copy we can put on file to...

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Managing Your Real Estate Portfolio with Tax Efficiency

Estate Planning

Tom Taranto and Ben DiGirolamo discuss the advantages of managing your real estate portfolio with tax-efficiency.

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Estate Planning and 529 Plans

Estate Planning

When you contribute to a 529 plan, you'll not only help your child, grandchild, or other loved one pay for school, but you'll also remove money from your taxable estate. This...

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Gift and Estate Tax Planning: Stay Current and Avoid the Consequences

Estate Planning

Over the past 12 to 18 months, our gift and estate planning has been based on the current federal gift and estate tax exemption of $11.7 million per individual or $23.4...

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The Biden Tax Plan: Estate Planning Considerations

Estate Planning

Over the past month the Biden administration has begun outlining its tax plan, which will undoubtedly prove one of the most noteworthy policy initiatives of the president’s first term. The plan...

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Selling Your Business? It Can Get Complicated.

Estate Planning

Grantor retained annuity trusts, or GRATs, are financial tools that wealthy people use in estate planning to pass assets to their children while avoiding estate and gift taxes. A GRAT is...

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Elderly Mother with caretaker Daughter

How We Are Protecting Our Aging Clients

Estate Planning

One of the challenges of living longer is combating the financial risks resulting from diminished mental capacity and elder financial abuse. Protecting our clients from these risks is one of the...

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Essential Documents to Review During Volatile Times

Estate Planning

“Risk happens fast” is an oft-quoted phrase in the world of investing and financial markets. It never happened faster than this past February and March when the U.S. stock market lost...

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Grandparents Sitting At Table With Grandchildren Playing Games Together

When Life Changes, Change Your Beneficiary Designations

Estate Planning

We are not immortal, and eventually we will pass on, as will our assets. Who will be on the receiving end? Failing to update your beneficiaries after divorce, a death, a...

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GRATS: Passing Along Assets Free of Estate and Gift Taxes

Estate Planning

Grantor retained annuity trusts, or GRATs, are financial tools that wealthy people use in estate planning to pass assets to their children while avoiding estate and gift taxes. A GRAT is...

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Remarrying? Better Do Some Estate Planning

Estate Planning

More than half of people over 55 who lose a spouse to death or divorce are remarrying. But a word of warning — actually two words: estate planning. Whether you have...

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SECURE Act: Plan Now to Protect Your Beneficiaries

Estate Planning

Congress has passed and the president signed into law a bill that will change not only how you save for retirement, but how you'll retrieve your savings. Among its provisions, the...

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Family Matters

Estate Planning

No one wants to think about, much less talk about, parents being unable to care for themselves or dying. But avoiding the conversation can leave a family in chaos in a...

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Business Succession Planning – Buy-Sell Agreements

Business Owners

A buy-sell agreement is a legally binding contract in which the owners of a business set forth the terms and conditions of a future sale or buy back of a departing...

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Woman holding hand of ill relative

Revocable Living Trust

Estate Planning

A revocable living trust can be a useful and practical estate planning tool for certain individuals but not for everyone. This type of trust is as a way to maintain management of...

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Estate and Protection Planning

Estate and Protection Planning: Don’t Fall Victim to These Common Pitfalls

Estate Planning

It's ironic that one of the most impactful — and costly — components of a well-executed financial plan pertains to benefits the owner will likely not live to enjoy. However, anyone...

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Estate planning documents

Inheriting Retirement Accounts: The Other IRAs

Estate Planning

Dealing with the passing of a family member or close friend is never easy. The emotions we feel and the ways we cope with loss can vary dramatically depending on our...

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Victorian House

Estate Planning: Covering Your Bases, Part 3

Estate Planning

As critical as estate planning is, assuring your estate will be distributed as you wish is far from difficult or complicated. For most of us, estate planning boils down to executing...

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Side of a house and the roof

Estate Planning: Covering Your Bases, Part 2

Estate Planning

As critical as estate planning is, assuring your estate will be distributed as you wish is far from difficult or complicated. For most of us, estate planning boils down to executing...

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Housing Plan

Estate Planning: Covering Your Bases, Part 1

Estate Planning

As critical as estate planning is, assuring your estate will be distributed as you wish is far from difficult or complicated. For most of us, estate planning boils down to executing...

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Couple reviewing bills and payments

Gifting and the Family Dynamic

Estate Planning

It is a good problem. You've done well enough in your business to amass a significant amount of wealth. Now you must decide how it will be distributed when you are...

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You Can’t Donate a 529 Plan – But You Have Alternatives

Financial Planning

Years ago, you wisely set aside money in a 529 plan to help cover a child’s future education expenses. But what happens if your child decides not to pursue higher education...

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Fiduciary Financial Advisors: Your Guide to Smart Investing

Financial Planning

Are you looking for a financial advisor who is legally obligated to prioritize your best interests? It doesn’t sound logical that all financial advisors wouldn’t prioritize your best interests first, but...

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Navigating the Post-Fed Rate Cut Environment: What’s Next for Cash, Bonds, Equities?

Financial Planning

With the Federal Reserve’s recent 50-basis-point rate cut in September followed by a 25-basis-point rate cut in November, many investors are wondering how it will impact cash, bonds, and equities.

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Haunted by Debt? Overcoming Financial Obstacles to Secure Your Retirement

Financial Planning

Managing debt is not just about paying off what you owe; it’s about creating a sustainable financial future. This involves understanding the types of debt you carry, the interest rates, and...

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529 Plan Leftovers: A New Option

Financial Planning

The U.S. Government has developed a qualified savings plan model that allows parents to stash away money and let it grow tax-free for their children’s educations.

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Building Generational Wealth: Getting Started

Estate Planning

Many of my clients are not benefactors of generational wealth; however, they want to make good financial decisions in order to build their own wealth, which could then allow them to...

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7 Financial Planning Essentials You Shouldn’t Ignore

Financial Planning

Financial planning often revolves around immediate priorities like budgeting, saving, and investing, but a comprehensive approach encompasses so much more.

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Same Sex Family

Financial Planning Insights for Same-Sex Couples

Financial Planning

In 2015 the U.S. Supreme Court ruling on marriage equality provided considerable financial clarity and security to LGBTQ+ couples. Brittany Taylor discusses some financial considerations to make.

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Building a Foundation for Financial Literacy

Financial Planning

The importance of financial literacy cannot be overstated in today’s ever-changing financial landscape. Financial literacy is more than a buzzword; it’s the foundation for creating a life of freedom and choice—untangled...

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It’s an Election Year. Do the Markets Care?

Financial Planning

It’s an election year and investors are nervous, fearing the impact on their portfolios of the next elected president. Many consider this election one of most important in history, and given...

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President Biden’s Tax Proposal: Unveiling the Details

Financial Planning

As we approach another national election, evaluating the candidates involves examining their proposals, among the most popular being those that impact taxes.

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Navigating Financial Planning Pitfalls

Financial Planning

While everyone aims for financial security, the detailed planning needed to make it a reality often goes unnoticed.

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Financial Markets and Investor Expectations

Financial Planning

This year started with another leg up in an ongoing stock market rally, led primarily by large-cap U.S. tech stocks, including Nvidia, Meta, Netflix, Amazon, and Microsoft. The increases build on...

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Comprehensive Wealth Management: It’s More Than Stock and Bonds

Financial Planning

Comprehensive wealth management is not the same as investment management. It’s a great deal broader and goes a lot deeper than your portfolio. In fact, your portfolio should be the result—and...

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Balancing the Scales: The ‘Magnificent Seven’ and Strategic Portfolio Diversification

Financial Planning

The year 2023 saw a rise in seven stocks that far outpaced the performance of other U.S. equities. When you see that only seven stocks were responsible for 76 percent of...

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Building Tomorrow’s Wealth Today: A Guide to the 401Kids Savings Act

Financial Planning

The importance of financial literacy and early savings cannot be overstated, especially for our children.

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Disability Insurance: Why as a Resident You Should Consider It Now

Financial Planning

The outset of a career as a medical professional is incredibly demanding, financially as well as professionally. Residents spend 60 to 70 hours a week honing their skills, and at an...

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10 Essential Financial Considerations for Retirees

Financial Planning

The occasion of a new year can inspire us to renew our commitment to ensuring all areas of our lives are in order. Of course, I’m focused on my clients’...

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Tax Havens & Trust Laws: The Times May Be A-Changin’

Financial Planning

Tax-haven states have been around since the dawn of America, and for decades, Delaware has been reputed as the tax haven for the ultra-wealthy and corporate entities. But there is new...

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You’re the Beneficiary of a Financial Windfall! What Do You Do Now?

Financial Planning

A relative of a friend of mine had a run-in with serious wealth. His favorite numbers finally hit in his state lottery. He hired a limousine to show up in style...

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Financial Resolutions for the New Year: 10 Tips to Start the Year off on the Right Foot

Financial Planning

The beginning of a new year can bring excitement and a renewed sense of purpose. Resolutions are often made as many of us reflect on the past and contemplate positive changes...

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Private Markets: Why Isn’t Everyone Invested?

Financial Planning

Private equity, illiquidity, hedge fund, venture capital: terms that to some translate as risky, to others are incomprehensible, and to others the sound of opportunities worth salivating over.

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Is Gen X Ready for Retirement?

Estate Planning

Born between 1965 through 1980, Generation X, often overshadowed by the larger cohorts of Baby Boomers and Millennials, finds itself at the precipice of retirement.

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Exploring Florida 529 Plans

Financial Planning

A child’s education can be costly. Preparing and saving early is advisable for most people.

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New York State Provides Pregnancy Disability Benefits

Financial Planning

Many employers offer paid leave to women during the final weeks of their pregnancy and for a period after the birth of their child. But many others offer only unpaid leave.

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The Future of Finance Is Female: Why Wealthy Women Are Leading the Charge

Financial Planning

What would happen if you were mentally or physically unable to take care of yourself or your day-to-day affairs? You might not be able to make sound decisions about your health...

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Saving for Future College Costs

Financial Planning

tudent loan availability has changed over the last 20 years. Options for future generations are more limited. As well, costs continue to increase, an average of 3.11 percent annually from 2010...

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New Parents Face New Financial Challenges

Financial Planning

Becoming a parent is one of life’s greatest joys. It can also bring the most significant changes to your priorities, goals, and daily schedule that you will ever experience.

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For Gen Zers, an Unfriendly Financial Climate

Financial Planning

As a Gen Zer, you’re waking up these mornings to an unfriendly financial climate. As you are graduating from school and taking on life, you’re dealing for the first time with...

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Recency Bias in Investing: Something to Avoid

Financial Planning

Traditional economic theory held to the concept that investors act rationally, that we make rational choices in our effort to maximize profitability and achieve our investment goals.

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The Cost of Cashing Out: Understanding the Consequences of 401k Early Withdrawals

Financial Planning

Just as a person charged with a crime is presumed innocent until proven guilty, a person over the age of 18 is presumed competent unless proven otherwise.

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Assigning Responsibility: Power of Attorney or Guardianship?

Estate Planning

Just as a person charged with a crime is presumed innocent until proven guilty, a person over the age of 18 is presumed competent unless proven otherwise.

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Planning for Incapacity

Planning for Incapacity

Financial Planning

Unless you're prepared, incapacity could devastate your family, exhaust your savings, and undermine your financial, tax, and estate planning strategies. Planning ahead can ensure that your health-care wishes will be carried...

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Taking a Bucket Approach to Asset Allocation in Retirement

Financial Planning

Managing investments in retirement is challenging enough, but steering them through volatile and uncertain times, in particular in a post-COVID world, can be harrowing.

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Have You Conducted Your Annual Financial Health Check-Up?

Financial Planning

Your annual physical is an important appointment, a preventive care visit focused on detecting conditions that could compromise your health before they take hold.

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Providing for Children with Special Needs

Financial Planning

There are state and federal benefits available to help parents and their child with special needs while the child is young.

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Use A Personal Financial Notebook To Keep Family Records Organized and Accessible.

Financial Planning

Imagine having to leave your home quickly because of a fire or a natural disaster. Besides the kids, what would you grab?

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Investing and Golf: The Two Have Much In Common

Financial Planning

If you’re a golfer, you know there are certain techniques you need to master to “go low,” from driving the ball, to hitting fairway woods and irons, to putting.

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Gen Z’s Experiences Will Shape Their Financial Lives

Financial Planning

Gen Z is the first generation to come of age in the 21st century, and they've already experienced more than their fair share of challenges.

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CCRCs and Roth Conversions Go Hand-in-Hand

Financial Planning

Transitioning to retirement is exciting, but it also comes with its own challenges. After a lifetime of saving in retirement accounts, decades of deferred taxes start coming due as you pull...

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Tax Loss Harvesting: Sell at a Loss to Offset Your Gains

Financial Planning

Throughout the year, the markets ebb and flow, rise and fall. Recent years, especially 2022, have been particularly volatile.

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Data’s Out! Inflation Remains High. What Can You Do?

Financial Planning

Yes, the latest monthly report shows that inflation remains high. But as with anything, the devil is in the details.

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Inflation Is Good for Retirees. Come Again?

Financial Planning

Not a day goes by that we don’t hear something about inflation. From a five-dollar gallon of gas to a five-dollar gallon of milk, inflation is impacting virtually everything we buy....

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Understanding Recessions and Regaining Financial Balance

Financial Planning

As HBKS Chief Investment Officer Brian Sommers wrote in his recent commentary, the combination of trending economic data and the Federal Reserve’s determination to continue raising key interest rates is edging...

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Inflation, Interest Rate Hikes Creating New Market Considerations

Financial Planning

After years of markets rising on historically low interest rates, low inflation, and an extremely accommodative Federal Reserve (Fed), we are now seeing how assets prices can be negatively impacted by...

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It’s That Time of the Year Again: RMD Decision Time

Financial Planning

The IRS wants the tax dollars they so graciously allowed you to defer over the years by investing in IRAs, 401ks and other “qualified” retirement plans. To collect those taxes, they...

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Student Debt Relief: Rhyme and Reason

Financial Planning

Americans have long been obsessed with getting a college education. Only in recent years has data emerged indicating that for some it might not be the best pathway, at least to...

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Protect Your Business With Keyman Life and Disability Insurance

Financial Planning

Keyman, or keyperson, life and disability insurance policies are bought by companies to protect their income and survivability by covering individuals who are responsible for a substantial portion of their revenue.

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Financial Planning Takes the Guesswork Out of Portfolio Performance

Financial Planning

Investors are finding themselves challenged to exercise the most rare of investment strategies these days, patience. It’s understandable that when markets decline people are concerned. Should they get out and wait...

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Pre-Retirement Perspectives on Social Security: What You Need to Know and Do Before You Apply

Financial Planning

An HBKS June 23 webinar hosted by Steven M. Rinn, CFP, Principal, Senior Financial Advisor, HBKS, with guest speaker Social Security Consultant John Johnston.

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Key Considerations For Taking Withdrawals From Your Investments

Financial Planning

After a cold, rainy, and sometimes even snowy April, spring has finally arrived here in Pittsburgh. And, as I’ve noticed in recent client meetings, people of all ages are excited to...

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Is Your Tax Bill Larger Than You Expected?

Financial Planning

I have yet to meet anyone who enjoys writing a check to the IRS, or for that matter, any tax authority. But many people filing their 2021 tax returns found themselves...

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Financial Planning at Divorce: Finding the Way to Sustained, Equitable Lifestyles

Financial Planning

Families work together and with their financial advisor to build savings for the retirement years they plan to spend together. But when there is a divorce, particularly if it is later...

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Develop Healthy Financial Habits: Here’s How.

Financial Planning

Too many of us find ourselves with too little savings. And it can be difficult to build a financial stockpile, to set aside money regularly, especially when inflation makes just keeping...

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Buy Bonds? I Bonds, That Is

Financial Planning

With inflation soaring and interest rates rising, many investors are wondering if it’s time to buy U.S. savings bonds, and more specifically, I bonds. As with most things, the short answer...

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Bond Yields Are Up. Should You Buy Bonds Now?

Estate Planning

As inflation rages and the Federal Reserve steps up interest rates, many of our investment clients are inquiring about increasing their bond positions.

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Seniors reviewing documents

Four Estate Planning Documents Everyone Should Have

Financial Planning

Estate planning is the process of managing and preserving your assets while you’re alive and conserving and controlling their distribution after your death. There are four key estate-planning documents that almost...

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“This Time Is Different”: Strategies for Dealing with Market Volatility

Financial Planning

“No matter how calm you are, no matter how long-term an investor you are, no matter what your horizons, when the market is jumping around, you feel uncertainty in your gut...

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Finding Balance: Planning Retirement Spending

Financial Planning

You hear and read a lot about planning for retirement. Saving enough money to maintain your lifestyle in retirement, or to adopt another more preferred lifestyle, is essential. But just like...

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Rising Rates! Sell Everything! … Or Take a Deep Breath

Financial Planning

Many of us haven’t seen rising interest rates and inflation for a long time; some of us, never. The combination injects fear into the market—and a lot of volatility. It also...

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Employee Stock Awards, Restricted Shares, and Divorce

Financial Planning

In such a competitive environment for employees as currently exists, some employers are offering stock ownership as a way to attract or retrain key employees. As a sign-on bonus, or a...

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Buy-Sell Agreements to Protect Businesses with Multiple Owners

Financial Planning

When a business owner unexpectedly passes away, selling the business or their interest in the business can become complex. Selling a business interest is not like selling most types of property;...

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Credit Card Interest: Know How It Works

Financial Planning

Before you applied for a credit card you probably checked the interest rate. But do you know how the credit card company figures that rate—and others—into your monthly statements? Of course,...

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Legacy carried into the future

Philanthropy: Changing Tax Laws Call for New Strategies

Financial Planning

People look at philanthropy in different ways. Some people have very little interest in giving. Others are deeply devoted and have built foundations and structured their philanthropy such that their giving...

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Child Tax Credit: Know the Current Rules and What You Qualify For

Financial Planning

Among all the social programs being debated in Washington these days, the Child Tax Credit has been getting more than its share of attention.

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A Few Tips for Women Returning to the Workforce After a Divorce

Financial Planning

Planning a family’s financial future during a divorce should consider a variety of factors, including ages, incomes, assets, and expenses. As a Certified Divorce Financial Analyst, I help people resolve the...

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529 Plans: Save for College and K-12 Schooling

Financial Planning

Among the ways to save for a college or graduate school education, 529 plans get top ratings. While the contributions to the plans are not tax-deductible for federal income tax purposes—many...

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529 Plans vs. Other College Savings Options

Financial Planning

529 plans can be a great way to save for college, but they're not the only way. When you're investing for a major goal like education, it makes sense to be...

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Robo or Financial Advisor: Where Will You Get Your Advice?

Financial Planning

Technology continues to play an increasingly larger role in our lives, making things faster, more convenient, easier. It takes but a mere click of a button to order any number of...

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Using Life Insurance for Charitable Giving

Financial Planning

Life insurance can be an excellent tool for charitable giving. Not only does life insurance allow you to make a substantial gift to charity at relatively little cost to you, but...

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End-of-Year Tax Planning? Involve Your Advisors

Financial Planning

There are benefits to be gained by meeting before the end of the year with your financial advisor and the CPA who will oversee the completion and filing of your tax...

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Retiring Student Debt: Employers Helping Employees

Financial Planning

As most experienced financial planners will advise, it is usually in your best interest to reduce or eliminate debt in order to create personal wealth. The principle rings particularly true if...

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Mother and little daughter at home

The Child Tax Credit: Be Aware of How Program Changes Will Affect You

Financial Planning

The American Rescue Plan included meaningful changes to the Child Tax Credit. Specifically, the credit was increased from $2,000 to $3,000 per child over the age of six and $2,000 to...

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Using Life Insurance Riders to Pay for Long-Term Care

Financial Planning

If you're thinking about buying a stand-alone long-term care insurance (LTCI) policy, you might have another option. An increasing number of states are permitting the sale of long-term care hybrid products...

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Parents With Adult Children Sitting On Steps in Front Of House

Consider Investing Your Excess Retirement Funds Like Your Heirs Would

Estate Planning

A financial plan has a beginning, but no end. As a retiree your plan is designed to accommodate your needs and goals through your retirement. But it should also consider the...

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Target Date Funds

Target Date Funds: Antidote to Our Instincts?

Financial Planning

As the financial industry has evolved, it has yet to find a way to help the individual investor be more successful without the support of professional guidance. One could argue that,...

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Empower Your Company Through Employee Financial Wellness

Financial Planning

Just what you need, right? One more time-consuming task to be taken care of between now and the end of the year. But taking a little time out from the holiday...

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Your Financial Plan: Getting Started

Financial Planning

Different people invest for different reasons. So it makes sense that your reasons for investing should be understood by whoever is going to manage your investments—and well before they start investing...

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Traders Beware

Financial Planning

Markets have been bullish, but as I am reminded often by my wife, I am more “seasoned” now, and with seasoning comes perspective. I am also reminded of one of Mark...

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Washington State Long-Term Care Payroll Tax Debuts January 2022

Financial Planning

The State of Washington’s Long-Term Care Trust Act, which was passed in 2019 and goes into effect January 1, 2022, makes Washington the first state to enact publicly funded long-term care...

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Get the House You Want: Putting Together a Strong Offer

Financial Planning

Leasing a vehicle might seem simple—and cut and dried. You pay a set amount at signing and set monthly payments over the term of the lease. No haggling like when you...

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Inheriting Wealth

Estate Planning

You should carefully evaluate your new financial position after receiving a large inheritance. Consider the tax and investment consequences of your inheritance, among other issues. HBKS Wealth Advisor Anthony Scrocco reviews...

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The SLAT: Protect Your Assets Against Estate Tax Law Changes

Financial Planning

With the majority of the U.S. population seemingly in agreement with the idea of increasing taxes on the wealthy, Congress could pass legislation this year or in 2022 that includes a...

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A Will: Everyone Should Have One

Financial Planning

Not having a will can leave your family in dire straits. Do you have one? Is it up to date? Can you provide a copy we can put on file to...

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Financial Planning: Helping You See the Big Picture

Financial Planning

Do you picture yourself owning a new home, starting a business, or retiring comfortably? These are a few of the financial goals that may be important to you, and each comes...

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New Car Lot

Leasing a Car? Know What You Can and Can’t Negotiate.

Financial Planning

Leasing a vehicle might seem simple—and cut and dried. You pay a set amount at signing and set monthly payments over the term of the lease. No haggling like when you...

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Note to Parents: Advance Child Tax Credit Payments Begin July 15

Financial Planning

The IRS offers certain tax breaks to families with children, even if those tax savings pale in the face of the usual expenses related to having children. But there is some...

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Equities and Inflation: Looking Ahead

Financial Planning

Because it is designed to provide a guaranteed stream of income to the employee in retirement, a Defined Benefit Pension Plan has been viewed as the most coveted retirement plan an...

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Getting a Divorce? Avoid Making These Five Most Common and Costly Mistakes

Financial Planning

Planning a family’s financial future during a divorce should consider a variety of factors, including ages, incomes, assets, and expenses. As a Certified Divorce Financial Analyst, I help people resolve the...

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Special Considerations for Second/Vacation Homes

Financial Planning

Before you decide to purchase a vacation home you should consider a number of issues. These include the costs associated with owning a second/vacation home, the attributes of the home, its...

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529 Plans: The Ins and Outs of Contributions and Withdrawals

Financial Planning

529 plans can be powerful college savings tools, but you need to understand how your plan works before you can take full advantage of it. Among other things, this means becoming...

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Form CRS: Helping You Understand the Financial Professional Relationship

Financial Planning

Have you received what's known as "Form CRS" from your broker-dealer and/or registered investment advisor? If not, then sometime in July 2020, you likely will. A new requirement by the Securities...

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Estate Planning and 529 Plans

Estate Planning

When you contribute to a 529 plan, you'll not only help your child, grandchild, or other loved one pay for school, but you'll also remove money from your taxable estate. This...

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Gift and Estate Tax Planning: Stay Current and Avoid the Consequences

Estate Planning

Over the past 12 to 18 months, our gift and estate planning has been based on the current federal gift and estate tax exemption of $11.7 million per individual or $23.4...

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Markets Are Unpredictable. Financial Plans Aren’t.

Financial Planning

Your financial plan is your roadmap to your financial goals. But it’s more than that. In times of extreme volatility, or a major correction, your financial plan is your piece of...

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Behavioral Finance: Investors React Emotionally, Irrationally

Financial Planning

In his 2011 best-seller Thinking, Fast and Slow, Daniel Kahneman, winner of a Nobel Memorial Prize in Economic Sciences, crystallized those theories, countering traditional economic theory by demonstrating that humans are...

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Transfer (More Than Just) Wealth to Your Children

Financial Planning

There are many important lessons to teach children including how to manage money, which we believe is one of parents’ most important responsibilities. However, a survey by TrueCredit.com found that only...

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Financial Solutions for a Restructured Family

Financial Planning

In March 2021 HBKS posted a webinar addressing the financial aspects of divorce and combining the expertise of Donna Kline, a financial advisor, and Liberty Weyandt, an attorney.

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Having a Baby? A Few Tips on Being Financially Prepared

Financial Planning

There are many costs associated with bringing a new life into the world, some that you might not expect. Taking a few sensible measures to handle the expenses efficiently will not...

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Special Needs Children and Divorce: What You Need to Know

Financial Planning

When there are special needs children involved in a divorce, planning is even more critical. Unlike “typical” children, challenged kids might be unable to support themselves as adults.

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Understanding the Rising Costs of Homeowners Insurance in Florida

Insurance

Homeowners in Florida have been facing a significant financial burden as the cost of homeowners insurance continues to skyrocket.

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New York State Provides Pregnancy Disability Benefits

Financial Planning

Many employers offer paid leave to women during the final weeks of their pregnancy and for a period after the birth of their child. But many others offer only unpaid leave.

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Social Security for 2023: A Real Increase

Insurance

If you do not have access to employer-sponsored healthcare coverage, and do not yet qualify for Medicare, your most affordable healthcare option is likely to be through the federal or state...

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Ladies: Don’t Be Uninsured or Underinsured

Insurance

According to the 2021 Insurance Barometer Study by Life Happens, a nonprofit that encourages life insurance ownership, and LIMRA, a financial services trade association, just 47 percent of women own life...

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Increases to Medicare Premiums, Deductibles and Monthly Adjustment Amounts

Insurance

The Centers for Medicare & Medicaid Services (CMS) released the 2022 premiums, deductibles and coinsurance amounts for the Medicare Part A and Part B programs.

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Clothing Store Business Owner

Buying Health Insurance on the Marketplace? Talk to Your Financial Advisor

Insurance

If you do not have access to employer-sponsored healthcare coverage, and do not yet qualify for Medicare, your most affordable healthcare option is likely to be through the federal or state...

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Out of the Office

Disability Income Insurance for Business Owners

Insurance

A disability can create substantial economic hardship for individuals and their families. As a business owner, both your personal finances and your business could be at risk. If you were to...

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Senior woman talking with caregiver at long-term care facility

Is Long-Term Care Insurance a Necessity or Luxury?

Insurance

While long-term care insurance can lighten your cash outlay should you need extended care, not everyone can afford the expense. As financial planners, we help clients understand what insurances make sense,...

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Disabled Person in Wheelchair

Disability Insurance: Things to Consider Before You Buy

Insurance

No one wants to think about needing disability insurance. But consider that, according to the Social Security Administration, the probability a person born in 2000 will become disabled before age 60...

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Three generation family walking outdoors in park

Life Insurance 101: The Basics

Insurance

Many financial experts consider life insurance to be the cornerstone of sound financial planning. We at HBKS consider it a part of risk management, one of the pillars of financial planning.

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Businesswoman using motorized wheelchair

Who Needs Disability Insurance? You Do.

Insurance

Do you have a plan for supporting yourself and your family, paying your bills, or saving for the future if you can’t go to work and earn your income? Most people...

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caregiver walking with elderly woman outdoor

Long Term Care Insurance: Should I Pay the Increased Premium or Reduce My Benefits?

Insurance

Early misjudgments on actuarial tables means increased premiums for long-term care insurance holders. Should you pay these premiums or reduce benefits?

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Health Insurance and COBRA: Sometimes You Can Take It with You

Insurance

If you're like most Americans, you count on your employer for health insurance coverage. But what would happen to your health insurance if you suddenly stopped working or no longer qualified...

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Seeking Financial Advice? Avoid Conflicts of Interest

Financial Planning

Several well-known insurance companies have begun tapping into the financial advisor space through their respective Insurer and Broker-Dealers (IBDs). At the same time, the Certified Financial Planner (CFP®) Board’s new code...

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Paper family cut in half with stethoscope and heart

Health Insurance and Divorce: How Will One Affect the Other?

Insurance

During marriage, it's common for one spouse to maintain health coverage for the entire family through his or her group health insurance plan at work. After a divorce, coverage for the...

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Multi Generational Family walking together in the fall

Life Insurance and Life: How Your Needs Change

Insurance

Your need for life insurance change as your life changes. When you're young, you typically have less need for life insurance, but that changes as you work and marry, your family...

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Modern Retirement: Potential Areas of Trouble

Insurance

Given the unique characteristics of every family, conducting a detailed retirement feasibility study is imperative as anyone nears retirement. While a detailed examination of personal financial circumstances is crucial, the...

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Senior couple with man in wheelchair

Let’s Talk About the Future

Insurance

Thanks to medical science, what we’ve learned about taking care of ourselves, and perhaps old-fashioned evolution, people are living longer. It has spawned an entirely new concern for us humans: how...

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Do you need travel insurance

Do You Need Travel Insurance?

Insurance

Soon you'll be on your way, taking that trip you've looked forward to for ages--but suppose something happens. If you get sick, lose your suitcase, or have to cut your trip...

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Couple Reviewing Finances with their Advisor

Should You Keep Paying Your Life Insurance Premiums?

Insurance

Buying a life insurance policy is often a one-and-done transaction. That is, unlike the counsel of your financial advisor who works with you on an ongoing basis, buying life insurance from...

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Life Insurance

Cash Value Life Insurance

Insurance

Cash value, or permanent, life insurance is life insurance that is designed to be kept until your death — whenever that may be. What are the benefits of this type of...

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Estate and Protection Planning

Estate and Protection Planning: Don’t Fall Victim to These Common Pitfalls

Estate Planning

It's ironic that one of the most impactful — and costly — components of a well-executed financial plan pertains to benefits the owner will likely not live to enjoy. However, anyone...

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Protect loved ones with disability insurance

Guard What You Have and Those You Love: Disability Insurance

Insurance

Business owners and their employees meticulously plan for retirement because they consider it an achievement, but some fail to plan for death or disability. Although it can be uncomfortable to think...

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Small business owner putting out Open sign

Benefit Plans for Small Businesses

Business Owners

If you own a small business, you may be finding it increasingly necessary to implement a benefit program to attract and retain employees. For small businesses, benefit plans generally consist of...

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Elderly Couple Sitting on a Bench

Long Term Care Insurance

Insurance

Long-term care is a pressing concern for many families. And perplexing. It’s hard to know what to do about it or even find out what your options are. Even when you...

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Woman standing by the ocean

Long-Term Care Insurance: When and What is Right?

Insurance

As a product, long-term care insurance has suffered growing pains. When it was first developed — with no experience on which to base premium rates — insurers’ actuaries had little to...

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Elderly man worried about whether he has good insurance coverage

Insurance Company Insolvency: Are You Protected?

Insurance

In March 2016, a large national insurance company, Genworth Financial, announced it would stop accepting applications for traditional life insurance and some annuity products. While Genworth's management assures holders of their...

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Businessmen walking in the rain

Insurance Series: Insurance as a Part of Your Financial Plan

Insurance

When it comes to achieving your financial objectives, both growing your wealth and protecting it, you benefit from counsel that understands your entire financial condition - your needs, the needs of...

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Small Cap Stocks: It’s Their Time to Shine

Investment Management

You might not recognize the names of these companies or hear them talked about on the financial news networks, but small capitalization stocks (“small caps”) are an important part of an...

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Sustainable Investing: Carbon Credits or Carbon Offsets?

Investment Management

In the current environment of sustainable investing, we encounter two nearly interchangeable terms: carbon offsets and carbon credits.

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Rebalancing Your Portfolio Is Key to Successful Financial Planning

Investment Management

Rebalancing is necessary because portfolios will naturally deviate from their intended allocations over time. You can become unintentionally more aggressive or more conservative as capital markets and economic climates shift.

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China Is Losing Its Place As World’s Leading Manufacturer

Investment Management

Dong Xiaoping, the de facto leader of the People’s Republic of China from 1978 to the early 1990s, introduced a “free market” concept to China with his December 1978 Open Door...

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Inflation, Interest Rate Hikes Creating New Market Considerations

Financial Planning

After years of markets rising on historically low interest rates, low inflation, and an extremely accommodative Federal Reserve (Fed), we are now seeing how assets prices can be negatively impacted by...

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No-Load, No-Commission Annuities Attract Savers With Flexibility, Low Fees

Investment Management

In decades past, it was common for an American worker to be employed by the same company throughout his or her entire work life.

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Why Haven’t Bonds Lived Up to Their Traditional Role?

Investment Management

Investors have been accustomed to their core fixed income allocation serving as a counterweight to a weak stock market.

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The Shape of Economic Recovery

Investment Management

On June 8, 2020, the National Bureau of Economic Research (NBER), which has official responsibility for determining U.S. business cycles, announced that February 2020 marked the end of an expansion that...

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The Lasting Impact of Investing Principles from the 1940s

Investment Management

British-born American Economist Benjamin Graham’s The Intelligent Investor was published in 1949 and remains among the most respected books ever written on investing. Warren Buffet, who first read the book at...

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Income-Based Student Loan Repayment: What Are Your Options?

Investment Management

Student loans and the ways we go about repaying them remain in the news because, in one way or another, they affect so many of us. Whether in debt to their...

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Investing for a Minor: Consider Your Options

Investment Management

Financial planning for clients who have amassed wealth often includes addressing their desire to make a financial impact on their minor children’s or grandchildren’s futures.

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A Look at How Markets Move During Midterm Election Years

Investment Management

With 2022 being a midterm election year, it is interesting to look back over the years at how the equity markets have fared as both parties vie for additional seats in...

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Why Markets Move: The Impact of Emotion on your Investment Decisions

Investment Management

With all the media attention given to the markets on a daily basis, we can lose sight of what we are actually experiencing when investing in various assets.

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The Fed Pivots to Fight Inflation

Investment Management

On December 15, 2021, the Federal Open Market Committee (FOMC) of the Federal Reserve System made a significant shift in monetary policy in response to rising inflation.

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Exchange an Idle Non-Qualified Annuity for Tax-Free Long Term Care Coverage

Investment Management

The rising costs associated long-term care (LTC) insurance tend to be a stumbling block for those considering purchasing coverage. But if you own a non-qualified annuity, there could be a way...

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Investing in 2022: Inflationary Pressures and a Mix of Headwinds and Tailwinds

Investment Management

We have learned from experience how our stock market-related investments act as long-term hedges against inflation. As the economic recovery from the COVID shutdowns continues to move forward, we’re seeing how...

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Tax Havens & Trust Laws: The Times May Be A-Changin’

Investment Management

Tax-haven states have been around since the dawning of America, and for decades, Delaware has been reputed as the tax haven for the ultra-wealthy and corporate entities. But there is new...

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Options, Short Selling, GameStop, and the Squeeze

Investment Management

The COVID lockdown era will be remembered for many things, not least for the explosion of interest in the stock market across all reaches of society.

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Target Date Funds

Target Date Funds: Antidote to Our Instincts?

Financial Planning

As the financial industry has evolved, it has yet to find a way to help the individual investor be more successful without the support of professional guidance. One could argue that,...

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Rising Interest Rates and the Bond Markets

Investment Management

As capital markets continue their strong recovery from their pandemic-influenced lows in March 2020, all eyes are on the Fed with regard to increasing the federal funds rate. HBKS Wealth Advisor,...

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Going Solo: A Non-Traditional Retirement Savings Plan

Investment Management

Many small business owners are unfamiliar with what their retirement plan options may be. And even those who are contributing may not realize that there is another choice available: the ‘Solo...

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The VIX: Wall Street’s Fear Index and Valuable Investment Tool

Investment Management

Everyone knows that financial markets are unpredictable. Still, there are tools investors use to make general observations about how stock values will move. One of the most useful is the VIX,...

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Bitcoin: A Wildly Speculative Play

Investment Management

If you watch business television channel CNBC, you’ve undoubtedly seen the insert tracking the rises and falls of the wildly speculative bitcoin currency play. Cryptocurrency technology is interesting, but until bitcoin...

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My Favorite Stock Market Chart (or, How I Learned to Stop Worrying and Embrace Market Volatility)

Investment Management

HBKS Wealth Advisor Chris Zehner relies on this S&P chart to help remind him that volatility in stocks is common and should be expected to a degree every year.

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What the Markets Are Saying About the 2020 Elections

Investment Management

Prior to the 2020 national elections, many people were concerned about how the victory by one presidential candidate or the other might affect the markets. That’s not unusual. Concerns always seem...

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Election Day 2020

Elections and the Markets: Comparing 2020 with 2000

Investment Management

The year 2020 has been quite a bumpy ride, and after a very contentious election season, it doesn’t look like the ride will smooth out anytime soon. The ongoing pandemic, protests...

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Stock market data growth chart graph investment finance analysis fintech financial district

Diversify Your Portfolio with an Emerging Market Fund

Investment Management

While there are reasons to be cautious, emerging markets can generate greater than average returns, enough that I usually recommend that an investment portfolio should include some exposure to that asset...

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Federal Reserve’s Unprecedented Move Stabilized the Markets

Investment Management

The Fed has three main tools it uses to achieve its goals: adjusting the discount rates it charges on loans to banks and increasing or lowering bank reserve requirements are two....

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What Drove April’s Unprecedented Negative Oil Price?

Investment Management

On April 20, the market price of West Texas Intermediate Crude (WTI) dropped to negative 40 dollars a barrel. More than remarkable, the fact that "sellers" of oil had to pay...

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Balance Portfolio Risk with a Fixed Index Annuity

Investment Management

An erratic stock market has caused many investors to question their risk tolerance as they look for ways to protect their portfolios. The challenge many of us face is balancing risk...

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Man meeting with this financial advisor

Investing: It’s About More than Returns

Investment Management

While the private client industry has evolved significantly over the last two decades, traditional commission selling still exists, buying and selling investments for clients and charging a commission for each transaction....

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Balancing Act - Walking over a gorge on a tightrope

Risk Tolerance: How Much Investment Risk Can You Take?

Investment Management

Investing is not supposed to give you ulcers. It should be your way of building wealth in order to help achieve your financial objectives. Still, it’s natural to get nervous about...

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Glass Globe with Diversification Charts

The Benefits of a Globally Diversified Portfolio Approach

Investment Management

HBKS believes that a globally diversified portfolio that utilizes alternatives provides for the highest probability of success in meeting our clients' investment goals.

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Advisors Reviewing Graphs and Charts for Financial Planning

Behavioral Insights

Investment Management

Research — and there’s plenty of it — suggests a gap between what investors want from a financial advisor and what a financial advisor should provide. Both sides want the same...

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Hedge Fund Definition

Hedge Funds

Investment Management

In terms of most investments, hedge funds are a relatively new idea. Still they've been around for almost 70 years and have proven a viable option for investors looking to diversify...

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Bull and Bear figures in shadow

Three Ways to Build Wealth in a Down Market

Financial Planning

Over the past few months, every time I turn on the TV it seems the stock market is in the red for the day. A lot has been written about how...

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Group of people trying to cross a busy street

The Beat Goes On

Investment Management

Global stock markets continued their upward trend in the third quarter of 2017 thanks to a near-perfect environment for risk assets. Stocks in foreign developed and emerging markets also outperformed domestic...

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Business people shaking hands

The Power of Independence

Investment Management

In September 2016 Wells Fargo, one of the nation's largest banks, was fined $185 million by the Consumer Financial Protection Bureau for covertly opening millions of unauthorized deposit and credit card...

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Businessman thinking about the future

Active Funds or Passive Funds?

Investment Management

When investing, investors can choose either passively managed funds or actively managed funds. Passively managed funds invest in a portfolio that simply mirrors a market index. In contrast, actively managed funds...

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Adding water to a coffee pot

Slow and Steady Wins the Race

Investment Management

At the time of this writing the DOW has officially surpassed the 20,000 mark. Should we sit back and enjoy this historical landmark or is it a cause for anxiety? Should...

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bear and bull on the stock market

Financial Planning vs. Investment Management

Financial Planning

As election night 2016 came to its surprising end, investors were understandably confused. Some panicked using the earliest foreign exchanges to open to dump stocks. Prognosticators had predicted a precipitous fall...

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The Possibility of an Economic Soft Landing: Could This Time Be Different?

Market Commentary

The U.S. Federal Reserve cut interest rates at their September meeting by 50 basis points to keep the economy growing and stabilize a weakening job market.

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Federal Reserve building

Is the Fed Too Late, or Still on Target?

Market Commentary

July started with a return of market volatility, although markets finished the month on the upside.

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Economic Growth Continues, But Recent Economic Data Releases Show a U.S. Economy That is Slowing

Market Commentary

Growth in the U.S. economy strengthened during the second quarter of 2024, and it looks set to continue into the third quarter despite many economists predicting a recession by now. Indeed,...

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The Markets, The Fed, and When Bad News Is Good News

Market Commentary

The financial markets pulled back in April on stronger than expected inflation data.

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The U.S. Economy is Strengthening, but it is too Early for the U.S. Federal Reserve to Declare Victory

Market Commentary

The economic shutdown during the pandemic and subsequent stimulus by the Federal Government caused many supply shocks and other disruptions to economic activity.

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Beyond the Horizon: A Strategic Outlook for 2024

Market Commentary

Highlights from the January 25,2024 webinar featuring Brian Sommers, CFA, HBKS Principal and Chief Investment Officer.

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Everything Went Right for the Economy in 2023, But Signs Still Point to a Recession in 2024

Market Commentary

s 2023 ended, the U.S. economy's performance was even more robust than what was projected by the most optimistic economists. Amazingly, the economy remained resilient, even after the U.S. Federal Reserve...

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The U.S. Economy Has Enjoyed a Soft Landing So Far, but a Recession is Still Probable in 2024

Market Commentary

For much of this year, the U.S. Federal Reserve’s rate hikes have caused economic growth to slow just enough for inflation to fall substantially from its peak while the employment situation...

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Will a Recession in the United States be Avoided?

Market Commentary

Earlier this year, I wrote that we expected the Federal Reserve’s rate hikes to bring about a recession around the fourth quarter of 2023.

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HBKS Economic and Market Overview

Market Commentary

Highlights from the May 4, 2023, webinar featuring Brian Sommers, CFA, HBKS Principal and Chief Investment Officer.

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A Recession Again Appears Imminent in 2023

Market Commentary

The first quarter of 2023 was marked by so many changes in the outlook for the economy that it reminds me of last year’s most awarded movie.

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Silicon Valley Bank headquarters

Addressing the Silicon Valley Bank Collapse

Market Commentary

On March 8th Silicon Valley Bank (SVB), the 16th-largest bank in America, announced that it was seeking to raise $2.5 billion to provide capital after its clients had been withdrawing their...

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Be Like Water.

Market Commentary

An ode to Bruce Lee and investors in a post-Covid, hawkish Fed, rising geopolitical tension era

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The Economy and Markets in 2023: The Consensus is Usually Wrong, Could it Be Right This Year?

Market Commentary

In trying to discern what will happen in the economy and stock market in 2023, it is easy to simply fall in line with consensus thinking.

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Interest Rates and Inflation: It’s All About the Fed in 2023

Market Commentary

At the beginning of 2022 a bullish outlook on corporate profits created expectations for a higher market, though not likely a better performance than the previous two years.

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The Fed Will Likely Cause a Recession As It Fights Inflation

Market Commentary

On September 21, Federal Reserve Chairman Jerome Powell announced a Fed Funds rate hike of another 75 basis points to a 3.00 to 3.25 percent range and signaled the Fed would...

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3rd Quarter 2022 Economic Commentary

Market Commentary

The U.S. economy probably posted little to no growth in the second quarter, with most estimates landing between a slight contraction to very small growth. This follows a first quarter in...

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HBKS 2022 Economic and Investment Outlook

Market Commentary

Highlights of the May 5, 2022 webinar, a Q&A featuring HBK Principal and Chief Investment Officer Brian Sommers.

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The Federal Reserve May Not Need to Raise Rates as Aggressively as Feared to Bring Down Inflation

Market Commentary

During the first quarter of 2022 the world was forced to endure multiple shocks which caused the outlook for global economic growth this year to deteriorate.

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Map of Russian Federation on digital pixelated display

The Investment Implications from Russia’s Invasion of Ukraine Should Be Short-Lived

Market Commentary

After a lot of speculation that accompanied Russia’s build-up of military forces outside Ukraine, Vladimir Putin has initiated a full-scale invasion of Ukraine despite diplomatic efforts and threats of sanctions from...

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increases in 2022

The Stock Market Could Resume Climbing Higher as The Economic Recovery Continues

Market Commentary

After relative calm in the stock market last year, volatility has returned in 2022. At the close of business on January 27th, the S&P 500 Index was down 9.7 percent from...

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Economic Growth Expected to Moderate This Year

Market Commentary

Last year, many looked forward to a return to some semblance of normalcy after more than a year of challenging modifications in their daily lives due to the pandemic. Unfortunately, just...

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It Remains Unclear if Economic Growth Will Remain Above Trend or Trail Off

Market Commentary

The global economy has already made enormous progress as more countries reopen but regaining the growth lost during the Pandemic still has a long way to go.

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Commentary on the U.S. Economy, Q3: The Global Economy Has Already Made Enormous Progress as More Countries Reopen

Market Commentary

The global economy has already made enormous progress as more countries reopen but regaining the growth lost during the Pandemic still has a long way to go.

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Active Fund or Passive Funds?

Market Commentary

When investing, investors can choose either passively managed funds or actively managed funds. Passively managed funds invest in a portfolio that simply mirrors a market index. In contrast, actively managed funds...

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HBKS 2021 Economic and Investment Outlook

Market Commentary

HBKS Chief Investment Officer Brian Sommers, CFA, was interviewed by HBKS Principal and Senior Financial Advisor Matthew Costigan, CFP, CPA/PFS on the economic outlook for 2021.

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Economic Recovery and Growth in the Second Quarter

Market Commentary

Most recent economic data shows that economic growth is recovering from the pandemic-induced lockdowns faster than many economists expected. The ISM manufacturing index in March rose to its highest level in...

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Will 2021 Bring A Return to “Normal”?

Market Commentary

Last year will be remembered as one of the most traumatic years in history. It was a year of many changes, and while some things may return to the way they...

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Financial charts

Stocks’ Rally from the Depths of the Sell-Off Has Been Led by a Small Handful of Stocks

Market Commentary

During the third quarter the S&P 500 Index rallied sharply, reaching new highs before giving back some of the gains in September. This year stocks have rebounded from the depths of...

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Low angle view of people lined up to vote

Elections and the Stock Market: Should You Get Out Now?

Market Commentary

With a presidential election quickly approaching, one of the most discussed concerns of investors is how the election will affect their portfolios. Historically, predicting how market returns will be impacted by...

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Bull and bear figures with laptop

Economic Activity Rebounding, But Questions Linger

Market Commentary

In early April, it seemed likely that the shutdowns caused by the COVID-19 pandemic would lead to a severe but short U.S. recession. More than three months later we are in...

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Roller Coaster at Sunset

It’s Been a Wild Ride

Market Commentary

Entering 2020, the economy was on solid footing. We were adding to a record 10-year economic growth cycle. Corporate profits and the markets continued to rise. But by March conditions had...

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Finding Fair Value

Market Commentary

In the current bear market, as in all bear markets, finding fair value is extremely difficult. The uncertainty over profits and a lack of corporate guidance lowers demand for stocks and...

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Watch: The Impact of COVID-19 on Global Economics and Markets

Market Commentary

A special webinar hosted by Brian Sommers, Chief Investment Officer at HBKS about the effects of COVID-19 on the markets.

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Rock Climbing

Continued Volatility, Market Bottoms and Climbing The Wall of Worry

Market Commentary

As an investor, understanding the psychology of the markets will be important as we continue through the volatility, look for a market bottom and ultimately climb out of the crisis.

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Compass

Maintaining Our Disciplined Investment Process

Market Commentary

The HBKS investment philosophy prepares our clients' portfolios so they don’t have to be reactive to the current market conditions. Our clients’ portfolios are diversified across asset classes, maintain a global...

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What’s Going on in the Bond Market?

Market Commentary

As business activity has slowed dramatically due to the COVID-19 pandemic, businesses have found it difficult to get the funding they need for their daily operations because banks stopped extending the...

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WWII US Soldiers

What Would Our Greatest Generation Do?

Market Commentary

While we can’t predict when or where the capital markets will find their bottom, history tells us that we will look back on this time as a great buying opportunity for...

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The Market’s Epidemic

Market Commentary

No one expected an epidemic to trigger the next bear market—or cause an economic slowdown. But it is important to recognize that we have been here before. While the cause is...

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Market Volatility

Market Volatility Continues

Market Commentary

Over the last couple of weeks, volatility in global stock markets has spiked higher, with extreme up or down movements occurring on almost a daily basis. These swings in market prices...

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Our Perspective on the Coronavirus Epidemic

Market Commentary

Global equities fell more than 4 percent over a three day period in late February 2020 before stabilizing. The selling was driven by concerns about the spread of the Coronavirus outside...

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Outlook for 2020: Global Economic Growth Expected to Strengthen

Market Commentary

2020 started with uncertainty in the markets and many may be tempted to make reactive changes to their portfolios. In this quarter's market commentary Chief Investment Officer, Brian Sommers, CFA,...

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Recessions are a Normal Part of the Business Cycle

Market Commentary

After 10 years of substantial expansion, the global economy began to stall in the middle of 2018. Now more than a year later, global growth continues at a slower pace.

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Balancing Rocks

Fears of an Impending Recession Are Overblown

Market Commentary

Global stock markets surged higher in June, pushing the All-Country World Index (ACWI) up 16.2 percent for the first half of 2019. This performance occurred as global economic growth continued to...

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Financial Graph

Outlook for Economic Growth Brightens

Market Commentary

For most of the first quarter of 2019, many economists were pessimistic about the prospects for global economic growth the rest of the year. Concern was mounting that global growth would...

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Stock Chart

Thoughts on the Vanguard Market Call

Market Commentary

Global investment powerhouse Vanguard sharply cut the expected returns for U.S. stocks in the next decade. If the forecast proves to be accurate, the implications could be significant for retirement-plan sponsors,...

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Digital Pathways

Welcome to the Fourth Industrial Revolution

Market Commentary

To say we are living through a period of unprecedented change in innovation and technology is an understatement. The rapid convergence and development of technological advancement is being driven by three...

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Timer sitting on laptop computer

Don’t Try to Time the Market

Financial Planning

I noticed a recent headline in Financial Advisor Magazine that reminded me of a basic investing truth that I have observed throughout my 30-year career: It's virtually impossible to time the...

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Timing the market

Time In vs. Timing

Market Commentary

When the market goes up, we want in; when it goes down, we want out. It's called behavioral bias, or in the case of the markets, behavioral finance. More specifically, it...

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TurningOverto

HBKS 2019 Market and Economic Outlook

Market Commentary

Stock Market Volatility Likely to Continue in 2019, but a Recession is Unlikely

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Stock market volatility with ticker

Investors Should Remain Focused on Their Long-Term Investment Plan During Stock Market Turmoil

Market Commentary

The correction in global stock markets that began this past September accelerated this week, putting most major stock indices into negative territory for the year. In the United States, the S&P...

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Stock Market Trends

Market Capitulation and Chasing Returns: Where Investors Go Wrong

Market Commentary

As financial advisors, we are frequently asked to justify one investment over another that is earning a higher return at that particular time. There are a lot of answers to such...

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a vote pin and an American flag

Economic Fundamentals Drive Markets More Than Mid-Term Elections

Market Commentary

Equity markets faltered substantially in October as investors wrestled with many concerns. In addition to an ongoing trade war with China and the U.S. Federal Reserve's rate hikes, investors wondered how...

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The Recent Volatility in Stock Markets Could Indicate That Stock Market Leadership is Shifting

Market Commentary

After reaching new highs in September of this year, stock markets in the United States and abroad have been falling. Stock prices deteriorated more rapidly on Wednesday and Thursday before stabilizing...

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Keeping Up with the Indices

Market Commentary

How do you judge the performance of your investments? Many investors like to compare the movement in their portfolios with the S&P 500 or the Dow. Some people feel like they...

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Bull and Bear

Commentary on the U.S. Economy, Q2: Resist the Urge to React to Hypothetical Rhetoric

Market Commentary

Global stock markets remained volatile in the second quarter despite solid corporate profits, as investors began to focus on slower growth in many parts of the world.

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Trade Tensions Spook Investors

Market Commentary

Stock markets tumbled late last week, with most market observers attributing it to President Trump’s announcements of a number of tariffs on goods imported into the United States. News headlines quoted...

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Investor Anxiety Returns to Roil Stock Markets

Market Commentary

On Monday the MSCI All Country World Index (ACWI), a measure of global stock markets, was down 3 percent, after dropping 3.4 percent last week. Last night and early Tuesday morning...

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Market Risks are Growing

Market Commentary

Global stock markets turned in another solid performance in 2017, driven by continued improvement in economic growth. In the United States, the S&P 500 Index was up 21.8 percent, including dividends....

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Global Stock Markets Continue to Climb in Second Quarter 2017

Market Commentary

During the past nine years many central banks around the world have been supplying monetary stimulus in order to lift global economic growth. These expansionary policies have enabled...

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HBKS Wealth Advisors Named a Top RIA by Financial Advisor Magazine

Market Commentary

HBKS® Wealth Advisors’ ranked 100 in the $1 billion and over asset category.

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Uncertain Political Environment Weighing on Global Stocks

Market Commentary

Stocks continued to surge for most of the first quarter of 2017 before treading water in March. While there is no shortage of political uncertainty around the world, during the first...

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Barron’s 2024 Survey Ranks HBKS Wealth Advisors Among Elite U.S. RIAs

News & Awards

Again this year, HBKS Wealth Advisors (HBKS) has been recognized as among the nation’s most prominent registered investment advisories (RIAs) by multiple industry surveys. Most recently, Barron’s, one of the most respected...

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HBKS Wealth Advisors Honors Professionals With 2024 Promotions

News & Awards

HBKS CEO Christopher M. Allegretti and COO Scott Cross are pleased to announce the following HBKS professionals have earned promotions.

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Financial Advisor Magazine Ranks HBKS Wealth Advisors Among the Leading U.S. Registered Investment Advisories

News & Awards

Again this year, HBKS Wealth Advisors (HBKS) is being recognized as a one of the nation’s most prominent registered investment advisories (RIAs). The recently released study by Financial Advisor magazine ranks...

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HBKS Wealth Advisors Again Among Nation’s Largest CPA Financial Planners

News & Awards

HBKS Wealth Advisors (HBKS) remains one of the nation’s largest CPA financial planners according to Accounting Today magazine’s ranking of CPA firms by assets under management (AUM).

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Barron’s 2023 Survey Ranks HBKS Wealth Advisors Among Elite U.S. RIAs

News & Awards

HBKS Wealth Advisors (HBKS) remains one of the nation’s largest CPA financial planners according to Accounting Today magazine’s ranking of CPA firms by assets under management (AUM).

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HBKS Wealth Advisors Promotes Professionals to Senior Financial Advisor and Portfolio Manager

News & Awards

Chris P. Allegretti and Denise Williams promoted to Senior Financial Advisor, Ethan Berkebile to Portfolio Manager.

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HBKS Among Largest in Financial Advisor Magazine’s Annual RIA Rankings

News & Awards

HBKS has placed among the top 20 percent of registered investment advisories in the U.S. in size by Financial Advisor Magazine.

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Accounting Today Ranks HBKS Among Nation’s Largest CPA Financial Planners

News & Awards

HBKS Wealth Advisors (HBKS) remains one of the nation’s largest CPA financial planners according to Accounting Today magazine’s ranking of CPA firms by assets under management (AUM).

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Barron’s Annual Survey Ranks HBKS Wealth Advisors Among Elite U.S. RIAs

News & Awards

Again this year, HBKS Wealth Advisors (HBKS) has been recognized as among the nation’s most prominent registered investment advisories (RIAs) by multiple industry surveys. Most recently, Barron’s, one of the most...

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HBKS Wealth Advisors Promotes Four Professionals to Senior Financial Advisor Status

News & Awards

HBK Managing Partner and CEO Christopher M. Allegretii has announced 2022 HBKS promotions of Will Chase, Donna Kline, Anthony Scrocco, and Zachary Allegretti to Senior Financial Advisor.

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HBKS Again Among Top Advisory Firms in National Rankings

News & Awards

Again this year, HBKS Wealth Advisors (HBKS) is being recognized as a one of the nation’s most prominent registered investment advisories (RIAs). Recently released rankings by Financial Advisor Magazine and Accounting...

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Elite Life Management to Merge with HBKS Wealth Advisors

News & Awards

HBKS Wealth Advisors (HBKS) announced it is expanding its presence in Southwest Florida through a merger with Sarasota-based Elite Life Management (Elite).

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HBKS Named to CNBC FA 100 List

News & Awards

HBKS Wealth Advisors has again been named as a top firm in the CNBC FA 100 list. HBKS ranked 73rd in the CNBC FA 100, which was unveiled on October 6....

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Financial Advisor Magazine, Accounting Today, Barron’s Surveys Rank HBKS Among Top U.S. Wealth Advisories

News & Awards

Three of the world’s most important financial publications have released their annual wealth advisory rankings and HBKS Wealth Advisors (HBKS) is among the highly ranked and moving higher.

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Barron’s Recognizes HBKS Wealth Advisors as Top 100 RIA Firm

News & Awards

HBKS Wealth Advisors ranks 67th in Barron’s September 14 edition which released its 2020 study of the Top 100 U.S. registered investment advisories. The weekly magazine, which covers financial news and...

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HBKS Names Kerri Goldsmith and Genevieve George Senior Financial Advisors

News & Awards

Kerri Goldsmith, CFP®, CRPS®, AIF®, and Genevieve George, CPA, CFP®, CFE, have been promoted to HBKS Senior Financial Advisors.

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Chris Hines Named Principal at HBKS Wealth Advisors in Philadelphia

News & Awards

HBKS Wealth CEO and Managing Principal Christopher M. Allegretti, CPA, today announced the promotion of Chris Hines of the Philadelphia office of HBKS Wealth Advisors to Principal.

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HBKS® Wealth Advisors Ranked Among Largest by Accounting Today

News & Awards

August 10, 2020 — In its recently released 2020 Top Firms by AUM survey, Accounting Today magazine ranks HBKS ninth in assets under management (AUM) among CPA...

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HBKS Among the Elite in Financial Advisor Magazine’s Annual RIA Rankings

News & Awards

August 7 – HBKS has placed among the top 20 percent of registered investment advisories with over $1 Billion in assets in the U.S. by Financial Advisor Magazine in the August...

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HBKS Among Elite FT300 Firms for 7th Consecutive Year

News & Awards

August 3 – For the seventh consecutive year, HBKS® Wealth Advisors (HBKS) has been named to the Financial Times’ FT 300 Top Registered Investment Advisers. The survey, also in its seventh...

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HBKS Principal Dean Piccirillo Earns Master of Science in Financial Services from The American College of Financial Services

News & Awards

HBKS Wealth Advisors congratulates R. Dean Piccirillo, CFP, CRPS, AIFA, on earning his Master of Science in Financial Services (MSFS) from the Richard D. Irwin Graduate School at The American College...

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The Families First Coronavirus Response Act: What You Need To Know

News & Awards

On March 18, 2020, the President signed into law the Emergency Families First Coronavirus Response Act (“Bill”), which provides relief related to the coronavirus to employers with fewer than 500. Here...

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Breaking News: April 15 Tax Deadline Has Been Extended

News & Awards

Federal tax filing deadline has been extended to July 15th. Most states are expected to follow.

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HBKS Again Among Elite FT300 Firms

News & Awards

July 2, 2019 – For the sixth consecutive year, HBKS® Wealth Advisors (HBKS) has been named to the Financial Times’ “FT 300 Top Registered Investment Advisers.” The competition, which is also...

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HBKS® Wealth Advisors Ranked Among Largest by Accounting Today

News & Awards

June 6, 2019 — Erie, Pennsylvania. In its recently released 2019 survey, the May 2019 edition of Accounting Today magazine ranks HBKS® 9th in amount of assets under management (AUM) among...

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2018 Year-End Tax Update

News & Awards

The Tax Cuts and Jobs Act of 2018 substantially and significantly changes how you will plan for and pay your taxes this year. To help you get ready to file your...

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Happy Holidays from HBKS Wealth Advisors

News & Awards

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Taylor, Mallette and Taranto Earn Principal Status

News & Awards

HBKS® Wealth Advisors (HBKS®) announced today that Brittany Taylor, Brian Mallette and Tom Taranto have been named Principals in their respective offices. The announcement was made by CEO and Managing Principal...

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HBKS® Wealth Advisors Among Top 100 in Assets Under Management

News & Awards

July 18, 2018 – HBKS® Wealth Advisors (HBKS®) is one of the nation’s top 100 registered investment advisors (RIAs) as measured by assets under management. With more than $3.5 billion under...

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HBKS is a Financial Times Top Registered Investment Adviser

News & Awards

June 28, 2018 – HBKS® Wealth Advisors (HBKS) is pleased to announce it has been named to the 2018 edition of the Financial Times 300 Top Registered Investment Advisers. The list...

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HBKS Wealth Advisors Ranked Among Largest by Accounting Today

News & Awards

June 10, 2018 — In its recently released 2018 survey, the June 10,2018 edition of Accounting Today magazine ranks HBKS® 11th in amount of assets under management (AUM) among CPA firm's...

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HBKS Wealth Advisors acquires stake in K·Coe Wealth Management LLC.

News & Awards

April 26, 2018 — HBKS® Wealth Advisors(HBKS) acquires a minority stake in K·Coe Isom LLP’s subsidiary K·Coe Wealth Management LLC. “Our firms have a great deal in common, from our regard for...

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Locust Capital Management Merges with HBKS Wealth Advisors

News & Awards

Philadelphia - October 9, 2017 — HBKS® Wealth Advisors(HBKS) announced today it has completed a merger agreement with Locust Capital Management. Under the agreement, the Philadelphia-based wealth management firm will operate...

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HBKS Wealth Advisors Named a Top 300 RIA by Financial Times

News & Awards

Financial Times included HBKS® Wealth Advisors in its fourth annual listing of an “elite group” of advisors.

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Financial Times Ranks HBKS Among Top U.S. RIAs

News & Awards

June 22, 2017 — For the fourth consecutive year, HBKS® Wealth Advisors(HBKS) has been named to the Financial Times 300 Top Registered Investment Advisors (RIA).

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HBKS Wealth Advisors Ranked Among Largest by Accounting Today

News & Awards

August 18, 2017 — Erie, Penn.... In its recently released 2017 survey, the June 1,2017 edition of Accounting Today magazine ranks HBKS 15th in amount of assets under management (AUM) among...

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HBKS Wealth Advisors’ Managing Principal/Chief Executive Officer Christopher M. Allegretti & Chief Operations Officer Scott Cross were recently interviewed by Charles Schwab

News & Awards

HBKS® Wealth Advisors’ Managing Principal/Chief Executive Officer Christopher M. Allegretti and Chief Operations Officer Scott Cross were recently interviewed by Charles Schwab as contributors to their white paper entitled Forward Momentum:...

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HBKS Wealth Advisors Named a 100 Fastest Growing RIA Firm Over Ten Years by Forbes Magazine

News & Awards

Forbes magazine showcases the wealth management firms by growth in assets over the past ten years with a majority of the firms accruing more than $1 billion in assets.

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HBKS Wealth Advisors Announces Promotion of Firm Leaders

News & Awards

Erie, PA - HBKS® Wealth Advisors announced today the promotions of two of its key leaders. Senior Financial Advisors Steven Rinn, CFP, of the firm’s Erie, Penn., office, and David Darwish,...

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HBKS Wealth Advisors voted Southwest Florida’s “best” financial advisory firm in a readers’ choice poll conducted by Gulfshore Business magazine

News & Awards

Fort Myers, Fla. - HBKS® Wealth Advisors was voted Southwest Florida’s “best” financial advisory firm in a readers’ choice poll conducted by Gulfshore Business magazine. The firm was honored for its...

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HBKS Wealth Advisors Ranked Among Largest by Accounting Today

News & Awards

July 12, 2016 - In its recently released 2016 survey, the June 2016 edition of Accounting Today magazine ranks HBKS® Wealth Advisors 14th in amount of assets under management (AUM) among...

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HBKS Wealth Advisors Named a Top RIA by Financial Advisor Magazine

News & Awards

HBKS® Wealth Advisors ranked 102 in the $1 billion and over asset category.

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Financial Times Ranks HBKS Among Top U.S. RIAs.

News & Awards

HBKS® Wealth Advisors was pleased to be included in Financial Times 2016 Top 300 Registered Investment Advisers for the third consecutive year.

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HBKS Wealth Advisors Named a Top 300 RIA by Financial Times

News & Awards

Financial Times included HBKS® Wealth Advisors in its third annual listing of an “elite group” of advisors.

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HBKS Wealth Advisors Completes Merger Agreement with Comprehensive Wealth Solutions

News & Awards

Fredonia, New York - HBKS® Wealth Advisors announced today it has completed a merger agreement with Comprehensive Wealth Solutions (CWS). Under the agreement, the Fredonia, New York-based wealth management firm began...

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HBKS Wealth Advisors Announces the Signing of a Definitive Merger Agreement with Global Wealth Consultants

News & Awards

Naples, Florida - HBKS® Wealth Advisors announced today the signing of a definitive merger agreement under which Global Wealth Consultants (GWC) of Naples, Fla., will join its multidisciplinary financial services firm.

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HBKS Wealth Advisors Principal and Senior Financial Advisor Stephen Schramm featured in Treasure Coast Newspaper

News & Awards

HBKS® Wealth Advisors takes a holistic view of working with each individual client. This distinguishes the firm, which has offices in Stuart and other Florida locations as well as in Ohio...

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HBKS Wealth Advisors Principal and Senior Financial Advisor Dean Piccirillo featured on GoErie.com

News & Awards

Erie native Piccirillo finds success in Florida.

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HBKS’s Director of Asset Management, Brian Sommers, CFA, quoted in The Wall Street Journal

News & Awards

Brian Sommers, CFA - Director of Asset Management for HBKS® Wealth Advisors was quoted in The Wall Street Journal about the rise and fall of liquid-alternative funds.

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HBKS Wealth Advisors Announces “People of the Year” Finalist

News & Awards

HBKS® Wealth Advisors is proud to announce that Dean Piccirillo, CFP®, CRPS®, AIFA® has been named one of three finalists for Southwest Florida’s News-Press “People of the Year” award. The program...

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2023 Year-End Tax Planning Update

Perspectives

We are coming to the end of another year filled with rising interest rates and continued market volatility, with little action from Congress to fix or extend tax provisions that could...

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Markets and Recessions: The Facts Might Surprise You

Perspectives

Recessions are a natural part of the business cycle started by imbalances in the economy during market corrections. As well, periods of declining GDP often signal an impending recession. Both scenarios...

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Oil Production, Consumption, and Reserves: A March 31, 2022 Perspective

Perspectives

Russia’s invasion of Ukraine has caused significant stress on a variety of fronts and our hearts go out to the Ukrainian people. The crisis conditions extend to global oil prices with...

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Considering a New Employment Opportunity

Perspectives

In the past, workers stayed with the same company for years and years, working their way up in the company. However, times have changed. Businesses facing hard economic times restructure, forcing...

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Brittany Taylor Reflects on 20 Years in Financial Services

Perspectives

It is hard to believe that almost 20 years ago I started at, what was then HBK Sorce Financial, as an intern working in the basement of an 1800’s-era home. As...

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2020 Year-End Tax Planning Update

Perspectives

Our colleagues at HBK CPAs & Consultants, want to ensure that our clients and colleagues are aware of the many changes that have occurred over the past year, and how these...

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A Conversation on the Economy

Perspectives

Principal and Chief Investment Officer Brian Sommers, CFA and Chief Economist from First Trust Advisors, Brian Wesbury have a conversation on the economy.

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Recent Market Slides Create Opportunities for Long-Term Investors

Perspectives

The global response to the COVID-19 pandemic has caused an unprecedented shock to most economies in the world. Social distancing and business shutdowns, while necessary to curb the growth of new...

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A COVID-19 Roundtable Discussion: Advisors Address Client Concerns

Perspectives

An interview with HBKS Advisors Christopher N. Sorce, CFP, Principal and Senior Financial Advisor; Ryan Furtwangler, CFP, Principal and Senior Financial Advisor; and Gus Repetto, MST, CFP, Principal and Senior Financial...

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Watch: Helping Businesses Respond to COVID 19

Perspectives

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hands in - all together

A COVID-19 Roundtable Discussion: CPAs & Financial Advisors Working Together to Address Client Concerns

Perspectives

An interview with HBKS Advisor Matthew Costigan, CFP, CPA/PFS, Principal and Senior Financial Advisor, Pittsburgh; and HBK CPAs & Consultant’s Jeremy Hartzell, JD, MBA, Principal-in-Charge, Pittsburgh.

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Watch: Paycheck Protection Program, Loan Forgiveness, and SBA EIDL Changes: What You Need to Know

Perspectives

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Bear Market Recoveries: Stay Invested

Perspectives

The effects of the COVID-19 crisis have been abrupt and wide ranging. As of March 23, the S&P 500 had declined nearly 30 percent from its highs just a few weeks...

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By The Numbers: A Statistical Look at Market Timing

Perspectives

Statistics tell us a lot about whether or not we should try to time the markets, in particular in periods of high volatility, like those we're seeing in conjunction with the...

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The Next Right Thing

Perspectives

We have seen market downturns several times in history and what we have learned is the "next right thing" has been to stay calm. Now is not the time to make...

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Small Community Supports Small Business Disrupted by COVID-19

Perspectives

The Fredonia, New York community has come together to support their neighbors and local small business owners.

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Redefining Success in Turbulent Times

Perspectives

The current circumstances, variously labeled as a health pandemic, financial pandemic, health crisis, etc., have become a call for us to reevaluate how we support ourselves, get in service, and to...

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COVID-19 Is Not Our Only Sinister Foe

Perspectives

In trying to stop the spread of the COVID-19 virus, we are waging a war with an invisible and unrelenting enemy: a microscopic pathogen. But that is not the only invisible...

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Planning for What’s to Come

Perspectives

In just a couple of months since the first reported case of COVID-19 in the U.S. life has changed dramatically for most of us. No one planned or prepared for a...

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Important Updates About Firm Operations During the COVID-19 Pandemic

Perspectives

Our CEO, Chris Allegretti, shares the latest information about how HBKS is responding to the Coronavirus.

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HBKS Wealth Advisors COVID-19 Preparedness Update

Perspectives

Our CEO, Chris Allegretti, shares important information about how HBKS is responding to the Coronavirus.

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2019 Year-End Tax Planning Update

Business Owners

With 2019 coming to a close, individuals and businesses may still benefit from several tax savings strategies. Our colleagues at HBK CPAs & Consultants share the many opportunities still available and...

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Navigating New Jersey’s New Retirement Plan Mandate: What You Need to Know

Business Owners

As of June 30, 2024, New Jersey introduced the RetireReady NJ program, a state-mandated retirement plan aimed at providing more than 1.7 million workers with access to a retirement savings option....

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Retirement Strategies High Earners Can’t Afford to Ignore

Retirement Planning

For high earners such as doctors, lawyers, and small-business owners, the immediate focus often revolves around managing an expanding career, overseeing business operations, or providing top-notch patient or client care. However,...

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Make A Will: Ensure Your Assets Are Distributed As You Wish

Retirement Planning

According to Caring.com, in 2024 only 32 percent of Americans have a will. That’s surprising and alarming because a will is how you can be sure your assets will be distributed...

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Retirement Planning for Divorced Couples

Retirement Planning

Fifty percent of marriages end in divorce. When it comes to second and third marriages, the divorce rate is much higher. How an ex-spouse’s pension will be distributed can have substantial...

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Balancing Retirement Spending: Enjoy Now or Save for Later

Retirement Planning

The debate between spending in retirement and saving for retirement is a critical one.

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Match Your “Wealth Span” to Your “Health Span”

Retirement Planning

One of the ways we look at our job at HBKS Wealth Advisors is to prepare our clients for three potential life situations: dying too early, becoming disabled, and living longer...

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Empowering Strategies for Effective Retirement Planning for Women

Retirement Planning

While retirement planning is crucial for everyone, women often grapple with financial nuances that call for a customized approach

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Startup Retirement Plan Tax Credits: A Substantial Benefit You Might Not Know About

Retirement Planning

Do you know that the federal government will pay an employer to open a retirement plan for their employees? If you don’t, you’re far from alone. Responding to a recent survey...

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Leftover 529 Funds: A Retirement Savings Option

Retirement Planning

As the year 2022 was drawing to a close, the U.S. Congress passed the SECURE 2.0 Act, an update to the Setting Every Community Up for Retirement Enhancement (SECURE) Act of...

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State Sponsored Long-Term Care Plans and Taxes: New York’s Proposal

Retirement Planning

In the realm of fiscal uncertainties, one glaring example stands out: the precarious state of Social Security. As workers diligently contribute to this safety net, the harsh reality revealed in the...

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Building Tomorrow’s Wealth Today: A Guide to the 401Kids Savings Act

Financial Planning

The importance of financial literacy and early savings cannot be overstated, especially for our children.

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Disability Insurance: Why as a Resident You Should Consider It Now

Financial Planning

The outset of a career as a medical professional is incredibly demanding, financially as well as professionally. Residents spend 60 to 70 hours a week honing their skills, and at an...

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10 Essential Financial Considerations for Retirees

Financial Planning

The occasion of a new year can inspire us to renew our commitment to ensuring all areas of our lives are in order. Of course, I’m focused on my clients’...

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Financial Considerations at the Beginning of a New Year

Retirement Planning

The occasion of a new year can inspire us to renew our commitment to ensuring all areas of our lives are in order.

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Required Minimum Distributions: When Your Retirement Savings Start Paying Off

Retirement Planning

Whether you're about to begin enjoying the benefits of your years of saving for retirement or just starting to contribute to a retirement plan, you'll want to know a few things...

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IRMAA Rates Rising in 2024 with Medicare Premiums

Retirement Planning

In an attempt to keep Social Security funded, the IRS is implementing a provision called IRMAA or Income Related Monthly Adjustment. Essentially the intent is to generate funds from wealthier taxpayers,...

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Planning for Retirement: What Income Replacement Rate Will I Need?

Retirement Planning

The transition from retirement saver to retirement spender can be overwhelming. A life spent earning income, deferring taxes and accumulating invested assets quickly changes to life on a fixed income —...

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Consider Qualified Charitable Distributions for Your Charitable Giving

Retirement Planning

As someone who is passionate about giving back to the community, I am always looking for ways to maximize the impact of charitable donations.

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Securing Your Retirement: The Power of Guaranteed Income

Retirement Planning

At a time when traditional pension plans are becoming obsolete, and with the future of Social Security persistently in question, millions of Americans are asking, “How will I secure my income...

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Leaving to Start Your Own Business? Don’t Leave Your Retirement Plan Behind.

Retirement Planning

So you’ve decided to start your own business. You’ve named your LLC and picked out office space, and the big day is approaching.

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Understanding the Impact of the SECURE Act on IRA and Retirement Plan Inheritance Rules

Retirement Planning

The SECURE Act of 2019 changes the way retirement plans can be passed along to an heir. Before the Act, beneficiaries of traditional Individual Retirement Accounts (IRAs) could stretch out required...

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Aging Solo: Take These Steps to Ensure Your Wishes Are Met

Retirement Planning

Another generation is approaching retirement, and many of them are retiring never having been married or widowed without children.

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Roth IRAs: The Five-Year Rule

Retirement Planning

An individual retirement account (IRA) is one of the most popular ways to save for retirement, and about as easy to understand and set up. But there are also a host...

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Is Your Social Security Payment Accurate?

Retirement Planning

Even Social Security can make a mistake. While errors are rare, it is important to check the mathematics and confirm the amounts on your social security checks are accurate.

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The Secure Act 2.0: Improving Retirement Savings Options

Retirement Planning

As 2022 drew to a close, while elections and inflation were getting most of the attention, President Biden signed a consolidation of two pieces of legislation.

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Common Factors Affecting Retirement Income

Retirement Planning

When it comes to planning for your retirement income, it's easy to overlook some of the common factors that can affect how much you'll have available to spend. If you don't...

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10 Years and Counting: Points to Consider as You Approach Retirement

Retirement Planning

If you're a decade or so away from retirement, you've probably spent at least some time thinking about this major life change

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CCRCs and Roth Conversions Go Hand-in-Hand

Financial Planning

Transitioning to retirement is exciting, but it also comes with its own challenges. After a lifetime of saving in retirement accounts, decades of deferred taxes start coming due as you pull...

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The Individual 401(k)

Retirement Planning

If you are self-employed or own a small business, you have probably considered establishing a retirement plan. If you have done your homework, you likely know about simplified employee pensions...

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Working For Yourself? Take Advantage of a Retirement Savings Plan for the Self-Employed.

Retirement Planning

Our country’s workforce is evolving. Many of us are not only working from home, but working for ourselves. Others, while still holding down a job, have developed a second income stream...

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Discussing End-of-Life Issues: A Family Imperative

Retirement Planning

Getting a family together to discuss issues related to aging parents can be challenging. Sometimes geography is a hurdle. Grown children are scattered around the country, even around the world.

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“After-Tax Fund” Conversions: Act Fast Before the Opportunity Vanishes

Retirement Planning

So-called “qualified” retirement plans, like 401(k)s, allow you to defer money into a pretax account, a traditional IRA, or a tax-free Roth IRA account.

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IRS Announces Increased 401(k) Contribution Limits for 2022

Retirement Planning

Good news for anyone looking to save more for retirement – the IRS announced recently that investors can put an extra $1,000 in their 401(k)s in 2022.

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Look to Dividend-Paying Stocks for Income in Retirement

Retirement Planning

Retiring boomers are looking for ways to generate income without eroding their assets. One approach is to invest in dividend-paying and rising dividend-paying stocks and funds.

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Consider Investing Your Excess Retirement Funds Like Your Heirs Would

Estate Planning

A financial plan has a beginning, but no end. As a retiree your plan is designed to accommodate your needs and goals through your retirement. But it should also consider the...

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Retirement: Proceed with Caution Before Relying on General Rules

Retirement Planning

When investing for retirement, you are likely to hear a lot of well-meaning guidance from family, friends, and others offering advice — even the media. As you weigh the potential...

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Use Your Stimulus Check to Open a Roth IRA

Retirement Planning

Beyond opening the accounts, the stimulus checks introduced these young adults to systematic investing. They will add to their Roth IRAs via regular automatic after-tax draws from their checking or savings...

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Pension Maximization: A Pension Payout Option Strategy

Retirement Planning

Because it is designed to provide a guaranteed stream of income to the employee in retirement, a Defined Benefit Pension Plan has been viewed as the most coveted retirement plan an...

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Young Professionals Meeting

IRA Contribution Deadline Extended

Retirement Planning

The IRS is giving us all more time to gather the funds to make our 2020 IRA contributions. The usual deadline of April 15 has been extended, just as the deadline...

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Senior woman talking with caregiver at long-term care facility

Is Long-Term Care Insurance a Necessity or Luxury?

Insurance

While long-term care insurance can lighten your cash outlay should you need extended care, not everyone can afford the expense. As financial planners, we help clients understand what insurances make sense,...

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Top 10 Opportunities for Retirement Plan Sponsors in 2021

Retirement Planning

Dean Piccirillo, director of the HBKS Wealth Advisors Retirement Plan Unit, offerd strategies employers can use to improve employee participation in their sponsored retirement plans, enhance plan investment performance, reduce plan...

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Converting a Traditional IRA to a Roth IRA at a Young Age: What Should Jack Do?

Retirement Planning

I have many clients in their twenties and thirties who had prior jobs where they accumulated sizeable amounts of money in their Traditional IRAs. These clients now have high paying jobs...

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Don’t Roll Over on Your Rollover

Retirement Planning

If you have a retirement account or two that you never transferred or “rolled over” into a current employer’s plan or personal IRA, you are not alone.

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Tax-Free Retirement Strategies for High Earners

Retirement Planning

There are only so many pre-tax avenues to retirement income. High earners who want to put more dollars aside must find alternatives beyond such traditional means as 401ks and IRAs.

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Making Sense of Roth IRAs: The Yes, No, Maybe Retirement Account

Retirement Planning

Roth IRAs can be a beneficial retirement planning option, but not understanding them could lead to mistakes and potentially costly penalties.

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Young Professional Couple Walking

Invest for Your Future: What Is an IRA?

Financial Planning

IRA (short for Individual Retirement Account) is an account that allows you to put money aside in a way that saves you dollars at tax time. Contributions to and withdrawals from...

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Can I convert my traditional IRA to a Roth IRA?

Financial Planning

Anyone can convert a traditional IRA to a Roth IRA in 2020. There are no income limits or restrictions based on your tax filing status. You generally have to include the...

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Choosing a Beneficiary for Your IRA or 401(k)

Financial Planning

Selecting beneficiaries for retirement benefits is different from choosing beneficiaries for other assets such as life insurance. With retirement benefits, you need to know the impact of income tax and estate...

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Business People Having a Meeting in The Board Room

Retirement Planning: It’s Not SIMPLE

Retirement Planning

The late '90s was a stressful time in the retirement plan world. How could this huge boomer population prepare for retirement a decade away when less than half were covered by...

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Want to Retire Comfortably? Get Rid of Your Debt.

Retirement Planning

There are many concerns that need to be addressed when someone is considering retirement, and debt is at the top of the list.

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Senior Couple on beach riding bikes

To Skip or Not to Skip Your 2020 RMDs

Retirement Planning

The last few months have inundated us with programs and legislation designed to help us regain our financial stability. One of the attempts to help, the CARES Act, similar to what...

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Evaluating an Early Retirement Offer

Retirement Planning

In today's corporate environment, cost cutting, restructuring, and downsizing are the norm, and many employers are offering their employees early retirement packages. But how do you know if the seemingly attractive...

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Watch: CARES Act Retirement Plan Provisions and Relief

Retirement Planning

What does the federal government's COVID-19 Response legislation mean to retirement plans? The recently passed Coronavirus Aid, Relief, and Economic Security Act or the CARES Act, contains relief and assistance for qualified...

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FAQs for Plan Sponsors Suffering from Coronavirus Related Business Disruptions

Retirement Planning

The Retirement Plan Services group answers your most pressing questions in this FAQ.

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Retirement Plan Provisions of the CARES Act

Retirement Planning

The CARES Act signed into law by the president March 27, 2020 provides several enhancements that give taxpayers and retirement plan participants the ability to access their plan assets for coronavirus-related...

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Reducing or Eliminating Safe Harbor 401(k) Contributions

Retirement Planning

Can employers reduce or eliminate their safe harbor contribution?

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reviewing finances

COVID-19 Is Not Our Only Sinister Foe

Perspectives

In trying to stop the spread of the COVID-19 virus, we are waging a war with an invisible and unrelenting enemy: a microscopic pathogen. But that is not the only invisible...

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Backdoor Roth IRA: A Savings Strategy for Higher Earners

Retirement Planning

A Roth IRA is attractive to many people because you contribute after-tax dollars and the earnings grow tax-free—when you withdraw funds in retirement you pay no income tax on your withdrawals....

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U.S. Capitol Building

Breaking News: SECURE Act

Financial Planning

The President signed into law on December 20 two spending packages that will fund the government through the rest of the fiscal year. Included in the spending packages were the Setting...

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Gen X and Millennial workers retirement planning financial advisor Erie, PA

Listen Up Generation Xers and Millennials: You’ll Need to Work Longer, Save More and Spend Less to Retire Well

Retirement Planning

The good news is that life expectancies continue to increase. Healthier lifestyles and medical advances are keeping older people alive and active longer. But there's a challenge that comes with a...

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Pension Myths: Common Misconceptions About Pension Plans

Retirement Planning

To a great extent defined benefit plans, most of which are more commonly known as pension plans, have fallen out of favor. As of 2017, only 16 percent of Fortune 500...

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Modern Retirement: Potential Areas of Trouble

Insurance

Given the unique characteristics of every family, conducting a detailed retirement feasibility study is imperative as anyone nears retirement. While a detailed examination of personal financial circumstances is crucial, the...

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Annuities and Retirement Planning

Retirement Planning

You may have heard that IRAs and employer-sponsored plans (e.g., 401(k)s) are the best ways to invest for retirement. That’s true for many people, but what if you’ve maxed out your...

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When You’re 65: Things to Consider When You’re Heading into Your Retirement

Retirement Planning

Most people who make it to 65 wonder how they got there so quickly. John Lennon said, "life is what happens when your busy making other plans." If you did most...

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Dad Helping daughters with homework, thinking about saving for retirement and college

Your Retirement, Your Children’s Education: Let’s Do the Math

Financial Planning

If you're a young couple with children, you’re tasked with at least two major savings initiatives: your retirement and your kids’ educations. Both require early and smart planning.

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Widowed? Divorced? Social Security Benefits Await You

Financial Planning

The Social Security Act was voted into law in 1935. Over the years, it has been amended frequently and today's law includes many provisions with which many Americans are unfamiliar. One...

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Kids learning in school

Saving for Retirement and a Child’s Education at the Same Time

Financial Planning

You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for...

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A couple sitting on the lake enjoying retirement.

Retiring Early? A Healthcare Subsidy Could Help

Retirement Planning

If you're thinking about retiring early, that is, before age 65, but losing your healthcare coverage plan is giving you pause, there might be a solution for you. Under the current...

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(k),PensionandRetirementNestEggs

Congress Intends to Modernize Retirement Plan Rules

Retirement Planning

Congress is considering sweeping legislation to modify – or modernize – the rules for IRS qualified retirement plans, as recently both the House Ways & Means and Senate Finance Committees advanced...

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Retirement Savings Jar and Time Clock

Retirement Help for Age-Gap Couples You Might Not Know About

Financial Planning

Making decisions about your retirement can be involved – and even more complex when there is a substantial age gap between you and your spouse. Substantially different retirement dates complicate such...

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Couple Retirement Planning

The Roths: 401(k) vs. Roth IRA. Which is better?

Retirement Planning

Roth 401(k) plans and Roth IRAs are similar retirement plans in that both are funded by after-tax dollars, that is, income you’ve already paid taxes on. They also both offer qualified...

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Stock Chart

Thoughts on the Vanguard Market Call

Market Commentary

Global investment powerhouse Vanguard sharply cut the expected returns for U.S. stocks in the next decade. If the forecast proves to be accurate, the implications could be significant for retirement-plan sponsors,...

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ToDoList

New Year’s Resolutions for Retirement Plan Fiduciaries

Retirement Planning

Americans love making New Year's resolutions at the beginning of the calendar year. Generally, these self-improvement goals concern health and wellness, weight loss or improving relationships. If you are a retirement...

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Paperworkandcalculator,planninga(k)

The Rules for Hardship 401(k) Withdrawals Have Changed

Retirement Planning

Generally, participants in 401(k) plans can't withdraw their retirement funds until age 59½ as long as they remain with their employer. However, employees can take money out, including earnings on their...

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A one hundred dollar bill puzzle

Getting Started: A Little Saving Now Will Pay Off Big Later

Retirement Planning

As a financial advisor to young professionals, I emphasize how important it is to start saving early for retirement. You might not want to restrict yourself to a budget, but what...

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Tax forms and calculator tapes

IRS increases IRA limits for 2019

Financial Planning

For the first time since 2013, the IRS is increasing the annual limit for IRA contributions.

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Estate planning documents

Inheriting Retirement Accounts: The Other IRAs

Estate Planning

Dealing with the passing of a family member or close friend is never easy. The emotions we feel and the ways we cope with loss can vary dramatically depending on our...

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Older Couple Dancing

Tax Deferred Retirement Savings

Retirement Planning

It’s a win-win-win. If you are self-employed, a sole proprietor or run a small business, you can build retirement savings while reducing your tax burden and building onto your investment portfolio....

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Saving Coins in a Jar

Pay Down or Save Up?

Retirement Planning

You have extra cash. Should you use it to pay down debt or build up your retirement savings?

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Diverging road splitting into two

Saving for Retirement or College: Pick One

Financial Planning

Good for you if you’re able to put enough money aside to cover your retirement and your kids’ college educations. But if not, remember the flight attendant’s advice before take-off: put...

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Man Overlooking a Cliff

Approaching Your “Retirement Cliff”?

Retirement Planning

If you are in your late 50s or early 60s, then you are fast approaching what is known as the “retirement cliff,” the end of the earned income period of your...

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