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listings of Restaurants, Weddings, Female doctors and Hotels. It also includes a number of informational pages with links, articles and RSS feeds
to both local and national websites of interest to women in NH & n. MA.
applaud local women. The core of the magazine is our inspirational women's articles, most of which feature local women but occasionally we are
able to interview national women who we feel provide a unique inspiration for our readers. Our other articles cover topics of interest such as food
recipes, home, garden, beauty, health, fashion, dating, parenting, seniors, finance, business, hair care, skin care, advice, real estate, insurance,
weddings etc. Each issue has a feature section as well. Many of our articles are written by local business people who provide information
relevant to their business expertise. The Applaud Women website is also a resource center for local women including the most comprehensive
listings of Restaurants, Weddings, Female doctors and Hotels. It also includes a number of informational pages with links, articles and RSS feeds
to both local and national websites of interest to women in NH & n. MA.
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| Your Financial Health By Robin Young, CFP |
In the wake of the market Tsunami and the unraveling of fraud in the Madoff case, many investors are wondering — Who can I trust? And who
can blame them. With the various ways financial firms are structured (investment firms, broker dealers, custodians, insurance companies), it’s
hard to determine who has your best interest in mind and how best to protect yourself. Trust alone and traditional forms of due diligence failed to
alert investors in the Madoff case. He was well respected in his community and had no criminal record. So where does an investor turn? Start with
two critical questions.
Who has my money? Madoff’s firm took custody of client money, meaning that clients wrote checks to and received statements from his firm. This
gave Madoff the ability to walk off with his clients’ money. Your money should be held at an independent custodian (TD Ameritrade or Schwab)
bank, mutual fund or brokerage firm where you are able to check your statements and account activity against the statements provided by your
advisor.
Are you legally obligated to act in my best interests? According to the Financial Planning Association, most financial advisors still receive income
from the sale of commissioned products, despite the obvious conflicts of interest that can arise from this arrangement. So, are there financial
advisors who are required to act in your best interest? Yes, in a fiduciary arrangement. A Registered Investment Advisor “RIA” is a fiduciary and is
legally required by the SEC to put your financial interests ahead of their own. Other financial advisors are only held to a suitability standard which
at best means they're supposed to reasonably believe that the investment and insurance products they want you to buy are appropriate for your
situation. Just "appropriate" – not "the best choice" or "in your best interests." Trust isn’t good enough anymore — do your homework when
choosing a financial professional.
Searching for a RIA (or firm) is a good starting point. Also, check out your financial advisor’s regulatory record and licensing at www.sec.
gov/investor/brokers.htm, a database of all brokers and RIA’s and don’t be afraid to get a second opinion. Your financial health is dependent on it.
Robin Young CFP®, President of Northstar Financial Planning, Inc., Londonderry, NH www.northstarfp.com. A Registered Investment Advisor
providing Financial Life Planning and Wealth Management. 603.216.9226.
can blame them. With the various ways financial firms are structured (investment firms, broker dealers, custodians, insurance companies), it’s
hard to determine who has your best interest in mind and how best to protect yourself. Trust alone and traditional forms of due diligence failed to
alert investors in the Madoff case. He was well respected in his community and had no criminal record. So where does an investor turn? Start with
two critical questions.
Who has my money? Madoff’s firm took custody of client money, meaning that clients wrote checks to and received statements from his firm. This
gave Madoff the ability to walk off with his clients’ money. Your money should be held at an independent custodian (TD Ameritrade or Schwab)
bank, mutual fund or brokerage firm where you are able to check your statements and account activity against the statements provided by your
advisor.
Are you legally obligated to act in my best interests? According to the Financial Planning Association, most financial advisors still receive income
from the sale of commissioned products, despite the obvious conflicts of interest that can arise from this arrangement. So, are there financial
advisors who are required to act in your best interest? Yes, in a fiduciary arrangement. A Registered Investment Advisor “RIA” is a fiduciary and is
legally required by the SEC to put your financial interests ahead of their own. Other financial advisors are only held to a suitability standard which
at best means they're supposed to reasonably believe that the investment and insurance products they want you to buy are appropriate for your
situation. Just "appropriate" – not "the best choice" or "in your best interests." Trust isn’t good enough anymore — do your homework when
choosing a financial professional.
Searching for a RIA (or firm) is a good starting point. Also, check out your financial advisor’s regulatory record and licensing at www.sec.
gov/investor/brokers.htm, a database of all brokers and RIA’s and don’t be afraid to get a second opinion. Your financial health is dependent on it.
Robin Young CFP®, President of Northstar Financial Planning, Inc., Londonderry, NH www.northstarfp.com. A Registered Investment Advisor
providing Financial Life Planning and Wealth Management. 603.216.9226.