Advisors Have Fiduciary Duty to Prospective Clients

unduhan-7During a discussion with a group of financial planners, mostly fee-only “solo-preneurs,” I suggested that many of us would be extremely challenged to serve all clients as their fiduciary and provide all their needed services.

One advisor shared that she had recommended outsourcing the ongoing management of a client’s portfolio to a highly regarded, low-cost money management firm. All things being equal, she said, she couldn’t provide the services for anything close to the price of the outsource firm.

This advisor recognized that her highest and greatest good for her clients was in her financial planning skills and in serving as a catalyst to help them do what was in their best interests. She felt that their portfolio needed ongoing oversight and recommended someone other than herself to provide that service. The advisor acted in her clients’ best interests — just as all fiduciaries are required to do.

The client appreciated the thoughtfulness of the recommendation but elected to keep everything with the planner. With full disclosure and informed consent, the advisor had fulfilled her fiduciary duty.

But what is our fiduciary obligation to prospective clients, as opposed to existing clients? Investment advisors are fiduciaries under the Investment Advisers Act of 1940, not only for our clients, but also in recommendations given to prospective clients, including the recommendation that they work with us and how that arrangement will be structured.

In other words, our fiduciary duty applies at the point where we propose how we enter into the equation. Are we the best choice of advisor to meet a prospective client’s needs? Could we be a great help in most areas and provide outsourcing options for everything else? Are there similar services available for less money?

Some states require disclosures of this type, and many professionals argue that it’s their ethical duty to provide them Most registered investment advisors have standard disclosure language regarding the fact that “like services may be obtained at a lower cost elsewhere,” but many may not be aware of our responsibilities at the point where we make a pitch to a prospective client.

Consider the common scenario of a holistic solo practitioner with multiple service offerings — for example, a retainer for long-term planning engagements, an assets-under-management fee structure for the portfolio, and hourly or project fees for everything else. We have to be equipped to offer these services as promised, yet I’ve found that most solo practitioners and small planning firms are better off if they focus on one, or possibly two, pricing or service-offering options.

Let’s consider an advisor who does primarily project work and charges an hourly or flat fee. The work is limited in scope, and the engagement is complete upon delivery of that work product. But the advisor may also work with a few clients on retainer, who are welcome and encouraged to contact the advisor anytime, day or night, if they have questions or concerns. On top of that, the advisor provides ongoing portfolio management, comprehensive planning and tax return preparation services for clients.

More Than One Way to Deal With It

unduhan-8Financial emergencies come in all shapes and sizes. They are, by definition, obligations that you haven’t planned for and that will be difficult to pay. Whether you should have anticipated an expense is irrelevant once you’re faced with it. If you must pay it soon, and if not paying it will bring serious consequences, then you have a financial emergency.

Many people have an emergency fund — money set aside for no other purpose than to bail them out of a crisis when they have no other cash available. Even if you don’t have such a fund, there may still be ways for you to make room in your budget to accommodate the urgent expense. And if you do have an emergency fund, you can use those same methods to put off having to dip into it, which will make your “rainy day” money last longer — or preserve it for the next unforeseen expense.

Reducing regular expenses

Your first line of defense in a financial emergency should simply be changing the way you spend money. In other words, tighten the belt. Delay, reduce, or do without certain things so more income can be used to meet the emergency. With smaller unexpected expenses, you may take this first step instinctively and not even think of it as an emergency. Perhaps you get a costly parking ticket and, because of it, decide to skip taking your family to the movies. You rent from Redbox instead and pay a few dollars instead of $50 or more.

Redirecting cash saved for irregular expenses

“Flexing” your spending to deal with an emergency between paydays only goes so far. You may need to reduce spending over several pay periods to cover the emergency — but you still you need the money now. Before taking it from a designated emergency fund, look to your next line of defense: savings earmarked for an annual or irregular expense, such as a vacation, home or vehicle maintenance, or a bill that gets paid once a year.

Setting aside cash for these irregular expenses is part of any solid budget. Of course, if you tap such funds in an emergency, you’ll need to pay yourself back before these bills come around. Do that by continuing to flex your spending over multiple pay periods until the reserves are restored.

What happens when you fully flex your spending and drain your cash reserves? Will you have to sell off belongings, liquidate investments or compound the problem by borrowing money? You can avoid pawnshops and payday lenders if you have an emergency fund on top of your earmarked cash reserves. Selling stuff is usually the last line of defense.

Objective financial advice

unduhan-9Finding quality financial advice can be a chalenge, especially if you’re already very wealthy. And offers of “free advice” almost certainly turn out to be sales pitches. But there are accessible, affordable financial advisors for the not-yet-wealthy.

Every day, members of the Garrett Planning Network provide truly useful financial advice, not cleverly disguised sales pitches, to people from all walks of lives. And who couldn’t use a little bit of competent, objective financial advice from time to time?

Hourly-based pricing

Garrett Planning Network members are bona fide financial planners who tailor services to your specific needs and circumstances. You pay for advice based on the amount of time involved. Services and costs are always agreed on in advance providing you with simple transparency.

To help minimize potential conflicts of interest all Network members are Fee-Only, which means the only compensation these financial planners ever receive comes from clients, no commissions, no referral fees. Garrett planners work solely for and always in the best interests of their clients.

Truly accessible

With affordable advice and over 300 Network members across the United States, anyone can find and hire an actual financial advisor. No financial planners located near you? Many Garrett planners provide long-distance advice by telephone, email, and virtual meetings on-line. Good financial advice often pays for itself many times over, and cost or geography should not prevent anyone from accessing such advice.

Overwhelmed by the Complexity of Insurance? This May Help

YOU CAN COUNT ON A SPECIALIST IN LIFE INSURANCE FOR ALL YOUR LIFE INSURANCE NEEDS. Life insurance coverage does bring the client peace of mind knowing that they are covered in times of accidents yet is also an expensive addition to your monthly expenses, still, you can go the smart way by checking out quotes and comparing premium rates first from a reliable specialist life insurance before signing up with one. This individuals would definitely know all there is about life insurances, so you can rely on them to search for the best deals for you without necessarily scrimping on the coverages that you know you really needed. If you are considering to get a life insurance, keep in mind that there are different policies, rules, regulations, as well as company terms and conditions that you must be aware of and truly understand; thus, a specialist can help and can explain to you all that you would need to know about life insurances and what it covers. Especially the terms of the coverages since you would need to know what it is you need, how much, and the number of dependents you have. Life insurance specialists are now a popular resource for individuals who are interested in buying this type of coverages because they know firsthand all there is to know about it such as quotes, rates, premiums, coverages, policies, terms and conditions included in it, and many more. Plus, you can get more insights here because, the way it works is that the specialist would be the one to shop around for you, get quotes and more information (especially on those that they are not really familiar with but you are interested in), inquire on your behalf and many more.
If You Read One Article About Insurance, Read This One
Similarly, by consulting a specialist about the life insurance and coverage you are interested in, they can give you the key facts about it as well as break into details the policy as well as the terms and conditions included in it. For the know exactly just how important it is that you truly understand what you are signing up with, and would not be at a loss on what the terms and conditions entail exactly. But once you have found the policy that you wanted, with the stipulated amount that you know you can pay, then you are good to go.
6 Facts About Insurance Everyone Thinks Are True
It is important for you to keep in mind the benefits and peace of mind and security that you and your family will enjoy by getting a life insurance coverage, as long as you do your part then you can expect to get the most out of it and greatly benefit from it too.

PJF Tax Introduces Tax Preparation Services


(Plymouth, MN)— PJF Tax announced the introduction of their preparation services. The company is looking to help clients save time, money, and frustration this tax season by opting for professional tax preparation. Those who are interested in having their taxes done by an experienced CPA or CFA Charterholder can log on to to discover how they can take advantage of PJF Tax’s support and financial guidance.

“To be honest, most people love getting a tax return check deposited into their bank accounts but loathe the idea of actually having to do their taxes. In many cases, this drives people through the doors of the large tax prep service chains. What they may not know is that we can usually prepare their taxes at a lower cost and with higher quality service. We go over our clients’ tax details with a fine-toothed comb, ensuring that we find every single credit and deduction they are owed so that they can get the maximum return on their investment,” said James L. Sexton of PJF Tax.

The PJF Tax staff is fully trained to prepare taxes, and clients can rest assured that every return is reviewed for accuracy before filing. At clients will be able to take advantage of the company’s online scheduler, which allows them to choose a convenient day and time to meet with the company’s owners to discuss the details of their tax situation. Those who need an estimate before scheduling a meeting can provide their staff with the appropriate details via phone or email.

As Sexton continued, “Simply put, we make our clients a priority. We know that they not only come to us to save them time and money, but that they use professional services hoping to get the largest return possible. If there’s a credit or deduction they can take advantage of, our clients can be confident that we’ll find it. Our team knows that taxes can have a huge impact on a person’s yearly financial picture, and we’ll do everything in our power to make sure they face no frustration when it comes to getting them in order.”

Those who would like to learn more about PJF Tax or schedule a meeting with one of their experienced professionals should visit for more information.

About PJF Tax:

PJF Tax was formed with the mission to provide exceptional, affordable tax expertise. Their team takes joy in preparing taxes and sets out to offer support and financial guidance so their clients can focus on life’s endeavors. Because taxes are only part of the financial picture, PJF Tax provides financial planning, investment, and wealth management advice. They realize taxes have an impact on everything their clients do, and they take a holistic approach to every one of their personal situations.


The Essentials of Businesses – Breaking Down the Basics

What Can You Benefit Through Credit Card Processing?

People who have chased after their dream businesses and now own their own stores or shops might certainly feel a great deal of happiness and satisfaction in what they have been able to accomplish. However, these people should never stop working, as it is necessary to keep improving these stores and shops in order to make them survive and grow as time goes on. One will be glad to know that in the modern world of today, there are many options available, many options which will help in the growth of the company – one of these is through credit card processing. When you decide to go into credit card processing, then, you will be happy to know that you will be able to achieve a great number of benefits and advantages.

Credit card processing will certainly be beneficial to you in so many different ways, one of which is the fact that through it, you can be sure to enjoy the advantage of more customers and clients coming to your shop and buying things from you. If you know about the habits of modern people today, you might know that a lot of them use credit cards instead of cash to buy things, as it is easier and more convenient to do this. If business people want to gain a wider customer base, then, they should certainly start processing credit cards, as this will mean that more people will come to their stores to buy from them.

Credit card processing will also benefit your company in a wonderful way because through it, you can be sure to create a strong relationship of trust between your store and the people who might wish to buy from you. It is true that when people carry around credit cards, it no doubt means that they trust these cards. If you want to gain a stronger relationship of trust with your future clients and customers, then, it is definitely a good idea for you to start processing credit cards, as when you do so, you can be sure that the trust felt by these people for the cards that they use will transfer to you and your shop.

Last but not least, people can benefit through credit card processing because through it, they can be sure that they will be able to enjoy great convenience and flexibility. This means that you don’t need to worry about the system and about starting up the processing, as a company that offers credit card processing will make the whole procedure very simple and hassle-free for you.

When all has been said, then, people who own shops or stores will definitely be able to benefit a lot of wonderful and satisfying things through credit card processing.


Case Study: My Experience With Accounts

Get to Know How Credit Card Processing is Transforming the Entire Business World

The whole world is now embracing vast use of technology and so should be your business. You should always on the run embracing latest techniques which can give your business mileage. You cannot risk being left behind by the train of development. The overall technological business growth cannot be realized without enhancing method of payment and in this case, have a look at the manifold benefits which can be enjoyed from the use of the credit card.

To start with, credit card processing enables you to process transactions from any part of the globe at almost any time by simply dialing a number. The sale payment just like any other type of typical payment is deposited into the merchants account from the account of the customer issuing the account. This makes it far much better than the use of cash and checks. In nutshell, the traditional methods of payments were impossible to be done over the phone. In case you are anxious to know some of the sound benefits which can be realized by the use credit card processing, this piece will take you through step by step.

To start with, in the current days, almost everyone has a phone. Out of this, phones are now a gateway to millions of transactions globally which happens around the clock. This is rather simple to understand; you should capture the niche of mobile phone credit card processing. These tips can be said to form a primary foundation of why you should benefit from credit card processing. In a very clear and streamlined language, get elaborated benefits of using credit card processing.

Convenience tops in the list of benefits. This is because this method of payment makes it possible for you to make payments from any place at any time. Its overall operational cost all the way from the entry to the monthly rates and charges makes it be a very affordable method.

Any type of payment is generally very vulnerable to insecurity. If you are fretting of tremendous theft cases of cash; credit card processing gives you a sigh of reliving. In other words, it can be said that credit card processing has a very simplified security. With credit card processing, it is also easy to terminate any transaction at no extra cost. All you need purchasing it and no additional repair and maintenance costs.


Overwhelmed by the Complexity of Merchants? This May Help

Finding a Reliable Provider You Need for Credit Card Processing

Today, the e-commerce businesses are increasing and people are using various ways so that they can provide the customers the convenience when it comes to shopping. Well, credit card processing is the most excellent way to take the online business forward. This would not just help the business to grow but this also attracts customers to purchase products or services from your online store or business.

If you like to expand your small business and you would like to become a business giant, then it is quite important that you get a reliable method for credit card payment. If you are not able to manage online sales management, then you must find out what is the problem with this. You can’t manage online sales maybe because of inefficiency of the service provider which you selected. However, you still have time and it is a lot better that you look for a different service provider before you encounter a mishap. If the service provider is genuine, then this will ensure that you will have such secure credit card processing. What you must do is that you should ask the simple questions when picking a service provider. Here are some of the things that you must ask from the provider.

Get to know their fees. Find out if the fees of the merchant services for the website already include set up fees, application, the monthly statement fees as well as early termination fees. The service provider must clear all the doubts about the fees and know whether they have hidden costs.

You must also find out about the type of the payment that they accept. If you are the owner of a retail business, you want to make sure that the selected payment process accepts Visa, MasterCard as well as others so that no customer faces any problem when paying for the orders.

Get to know more about how long such process is completed. A lot of service providers of the online merchant accounts complete their job with a fast turnaround time. Get to know more about their account set up time and the installation so that you can plan things properly. If you have selected the right service provider, then they will surely help you out in every step of the way.

There are several credit card processing companies and some have the major players too. When choosing a credit card processing company, you need to be critical in doing this. You must find a company that offers solutions to low-risk and also high-risk merchants. Also, companies that offer onshore and offshore services may be a great option for you to go for.


Lessons Learned About Accounts

Selecting Credit Card Processing Services

Credit cards are commonly used financial tools that forms a great part of one’s personal finance. Credit cards use networked structures and systems which enhances payment through a plastic card which is quite simple for one to use without misusing. The card provider, issuers, acquirer and merchant account are the basic components of the credit card industry. After a credit card transaction takes place by the card owner, there is a flow of information that is initiated after which there is an exchange of money between the card issuer and processing organization. Other payment methods such as electronic cheques, debit cards as well as gift cards are accepted by credit card processing companies.

The credit card processing company is in charge of authorizing a credit card as soon as it has been issued out to a merchant. It is then required to debit the account of the card issuer and credit them with the amount that one has spent when making a purchase. In order for the transaction to be successful, one has to pay a certain amount to the card processing company. The merchant then receives the payment as soon as a transaction fee has been deducted. One should consult with a risk professional since credit card processing is a serious issue. In order to know the best merchant account services that are suitable for one’s business, it is important for one to talk to a professional.

Having more than one credit card solutions as a high risk merchant is very suitable. One should be able to deal with a professional who organizes for you to have multiple merchant accounts with different processing banks. Cases of one being dropped by a bank once its category drops will thus be minimal. Dealing with a professional who is reliable and very experienced in this field will help you avoid such scenarios. With the rising popularity of e-commerce, people are accepting new payment methods. Credit card processing comes in handy especially for online businesses as clients get to pay for their goods and services using credit cards.

Familiarizing yourself with the types of fees charged for merchant services is crucial which include monthly statement fees, early termination fees, interchange fees and set up fees for a website. One should also familiarize themselves with the kinds of payment that are acceptable to the service provider you have chosen. This will prevent cases of customers facing challenges when paying for your goods and services.

It is quite difficult for one to find a credit card processing company that suits their needs. It is due to this reason that one chooses a service provider who will avail solutions for both low and high risk merchants.


5 Takeaways That I Learned About Businesses

Benefits Of Credit Card Processing.

When you allow your customers to pay using their credit cards, it legitimizes your organization. That means that when customers see the kind of credit cards that you accept on your site, they are able to trust you more. When customers register with a particular credit card; it means that they trust that specific service provider, and therefore they will pass that same confidence to your company. On the other hand, in case your customers do not trust your firm, there are fewer chances that they will want anything to do with your organization.

Another benefit of credit card processing is that it increases sales. That indicates that when you shift from cash only business to accepting different kinds of credit cards, then you are increasing your market share. That indicates that you should always strive to increase the customer experience of your business. Also, very many organizations are embracing the credit card form of payment, and that is the reason you should ensure that your firm does the same.

It is common that credit cards tend to increase purchases. Many people prefer to use credit cards rather than cash. That is because cash can run out and hence limit the products that they want to buy. Therefore, if you have a website then the next step is to make arrangements for mobile processing payment methods.

At times, a customer might need balance, yet you have used up all the money that you had and that will be very inconvenient for your business. That is because credit card transactions are processed fast unlike checks that take long to be cleared. On the contrary, you will be forced to wait for a long time before a check is cleared. When you take a bad check to your bank, it will take a long time to reverse the transactions, and that will be a waste of time and resources. A bad check can really inconvenience your business and also you will waste a lot of time trying to reach the customer to make another payment.

Thus, ensure that you find a professional merchant service provider that will offer high-quality credit card processing for your company. When searching for a service provider, you should focus on the ones that are well known and therefore their products are common. Also, they should have been in this line of business for many years, which means that they have been exposed to different challenges regarding credit card processing.

You should contact a few potential service providers and ensure that you make arrangements for consultation. Another significant factor is the cost of the equipment. Whereas most people only concentrate on the factor of price when selecting a professional, that is not right. Therefore, guarantee that you focus on a firm that is reachable.


Learning The “Secrets” of Cards

Why Credit Card Processing is Beneficial

One who owns a shop or a store certainly might feel a great amount of pride as well as a lot of satisfaction in it. These business owners, then, might be eagerly searching for ways through which they can make these businesses better. One will be glad to know that because of modern technology and the things made possible through it, finding a way like this is not at all something which is difficult. A good example is in the case of credit card processing: when you decide to add credit card processing into your methods of payment, you can be sure that the advantages you will soon get to enjoy will be numerous and very satisfying.

When one decides to add credit card processing into the modes of payment in his or her store, one will be able to benefit, first of all, because when this is done, a good relationship based on trust can be made with people who might be potential customers and clients. It is clear to see why this is so: when potential customers and clients find out that you process the cards they trust, this trust will also naturally transfer to you and your establishment. One who is able to create this strong relationship of trust with clients, then, will certainly have great chances to make his or her company grow steadily.

Credit card processing will also benefit you in a very wonderful way because through it, you can be sure to boost sales in your store. If you know of the habits of people in the modern world of today, you might know that these people often don’t bring cash in their wallets, and if they decide to buy something, they use their credit cards. When business owners have credit card processing, then, they can assure themselves of a wider customer base and the chance to enjoy more sales each day.

Credit card processing is also wonderfully beneficial to you because through it, you can be sure that you can be more flexible when it comes to your business, and also that you don’t need to be dealing with so much cash on a daily basis. Also, one does not need to worry that it will be difficult to have these payments collected, as card payments are often done in a short amount of time, giving him or her much convenience.

Altogether, then, it is clear to see why any business owner should go into credit card processing, as it is a payment mode which has definitely increased in popularity in the modern world of today.


Where To Start with Merchants and More

Business Solutions: Understanding Mobile Payment Processing

In the advent of advanced technology, businesses can align their status to industry standards by having mobile payment options, to give customers the convenience of paying their items without having to shell out cash or swipe their credit cards. Mobile payment processing involve the utilization of payment software or mobile application for faster and easier payment processing. Whatever business size or industry you are engaged with, merchants are continually growing and are now reaping the benefits of using mobile payment processing methods. This mobile POS system allows merchants to accept payments conveniently, thus improving flexibility, increasing customer engagement, and a more positive overall customer experience.

The benefits of mobile payment processing include closing more sales, speedy customer checkout, enabling diners to pay from the table, access actionable data quickly, integrate and increase customer incentive programs, track customer trends and inventory, save money on credit card fees, and happy and loyal customers. Mobile payment processing provide businesses a wider customer base, empowerment and increased profit or revenue. It is really easy to accept payments using mobile payment processing by simply attaching the card reader to a tablet or smart phone, then you are ready to accept payments wherever and whenever your business takes you. With our modern technology, customers have high expectations and they anticipate that businesses can offer different payment methods such as cash, credit or debit card, but also through their smartphones.

Mobile payment processing enables businesses to integrate loyalty and incentive programs into mobile payment applications, instead having customers to keep up with key ring tags or punch cards. The mobile payment processing technology rolls transactional marketing and relationship marketing into one, thereby adding value to customer experience. Through various reward system integrated with mobile payment, customers tend to come back and purchase goods or avail services thereby increasing their revenue. The use of mobile card readers delivers better customer service and reduces wait times. Mobile payment processing provide properly managed business operations, providing more stability, track products or services that are on demand, speeding up inventory and monitoring of sales. Customer behavior can be observed and analyzed, increasing the knowledge and understanding of merchants on buyers varying needs and wants. Mobile payment processing increases the sales and turnover of products to prevent expiration and wasting. Customers will greatly appreciate the technology, flexibility, speed and convenience brought about by mobile payment processing.

Mobile payment processing options help businesses achieve their goals in the soonest possible time. If you want more information about different mobile payment methods, feel free to visit our website. For any business, we can definitely help you the best payment method suited for your business.


Businesses – My Most Valuable Advice

What Mobile Order Processing is All About

A mobile device is currently the most amazingly fundamental and staple product that almost every single person who live in this world currently use for their everyday life. And the main reason as to why a mobile device is one of the most fundamental product is that it has a lot of functions and it can most definitely do almost everything in this day and age, such as communication, gaming, photography, videography, business, and many more. There is definitely no other product that can match the capabilities of a mobile device, since it is not only highly capable of doing everything essential but it is also portable. Another great function coming from a mobile device is that it is now possible to buy or sell stuff online. Buying or selling stuff online is not only simple and easy to do in this current day and age, but finding or seeking buyers or online shops is really simple as well. And it is mainly thanks to the mobile order processing function, which is what we are going to mainly focus to talk about in this article.

The process and operation that mainly involves the association, picking, ordering, buying and selling of a type of product, and the secure payment transactions that comes after it is what mobile order processing is basically all about. If you finally find the item that you are trying to buy, the mobile order processing will then put you in their order queue and seek out inside their information database whether there is available items regarding the item you are trying to buy within their storage that is ready to be shipped or not. Another function of the mobile order processing is that they will check whether the person who is trying to buy items in the store have certified payment methods in order to complete the transaction as well. And finally, if the mobile order processing saw some errors or discrepancy regarding the order procedure, it will not only kick out the person with the errors or discrepancy out of the queue but they will then move on to the next person in queue.

It is probably safe to say that almost every online stores that you can find in the internet in this day and age is currently making use of the mobile order processing functions to not only make their sales operation easy for themselves and their customers but safe for both parties as well. It is also possible for any consumers to use any type of payment methods within their capacity whether it is within an online banking or local and international banking as well, for their sending or receiving of sales and purchases. And it is all thanks to the credit card reader, where it can easily process and read all types of credit card to implement transaction payment methods on the mobile order processing applications. Which basically means that you can ideally take payments or conduct a sale almost anywhere in the planet, as long as you have a valid and certified credit card.