A Certified Financial Planner (CFP) is a financial advisor capable of investment and insurance/estate planning.
For an advisor that wants the “CFP” designation, they must complete the CFP Board’s initial and ongoing certification requirements, which include extensive exams in the areas of financial planning, taxes, insurance, estate planning and retirement. They must also complete continuing education courses.
CFP’s can add a lot of value to your financial plan - the best ones can provide you an all-in-one service for retirement and estate planning, including managing your portfolio and providing you insurance. The question is, are CFPs going to be the best portfolio manager available in the marketplace? Probably not.
Their skill-set is more oriented towards creating a plan and putting all the pieces in place, and managing the plan. They do not spend all or even half of their time actually managing investment and watching the markets.
An IRA already provides the investor with tax-deferred growth, so an annuity will not provide any additional tax benefits
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As of 2016, workers who have not registered online will receive a letter every 5 years that contains a statement
The suitability standard states that a broker-dealer is obliged to make recommendations that are suitable for their clients
A common stock is the one you’re most familiar with - having a share of ownership in a company
A 10-k is an annual filing required by the SEC for companies over $10 Mil, which provides the regulators with more detail
Adjusted Earnings are also known as pro forma, non-GAAP earnings, and are usually met with some cynicism
Currency Substitution is a country whose commerce is partially, or fully, conducted using the currency of another country
Publication 521 details the methods and requirements for tax deductions related to moving expenses (job related move)
This IRS Publication describes the distinction to be made between taxable income and nontaxable income