Ask the CFP

5 Questions to Ask When Your Broker Changes Firms

Ask The CFP® Practitioner Darcie Guerin darcie.guerin@raymondjames.com “Clarity affords focus.” ~ Thomas Leonard, American businessman  Question: My financial advisor called to let me know that he changed firms again and sent paperwork to move my accounts. Why would he be moving and what should I do? Answer: There are a number of reasons why advisors would change firms. In fact, I’ve ... Read More »

Building Your Financial Team: Who Should Make the Cut?

Ask The CFP® Practitioner Darcie Guerin darcie.guerin@raymondjames.com “If you have knowledge, let others light their candles at it.”  ~Margaret Fuller (1810-1850) Question: How do I find out if my financial advisor is a fiduciary, and why is that important? Answer: Your question has become more prevalent and relevant recently because the Department of Labor’s (DOL) new rule governing retirement investment accounts ... Read More »

Strategies Beat Predictions and Hunches

Ask The CFP® Practitioner Darcie Guerin darcie.guerin@raymondjames.com “It’s what you learn after you know it all that counts.” ~ Earl Weaver (1930-1993), Baseball Hall of Famer and “the sorest loser who ever lived.”  Question: What will happen to the markets during 2017? Answer: Strategists, economists, and even Certified Financial Planners™ are notorious for trying to predict markets. Over my career, it’s ... Read More »

It’s a Work in Progress

Ask The CFP®  Practitioner Question: During the holiday break we took the advice offered in your last column and held a holiday huddle to review family finances. Although awkward at first, I think everyone was a bit relieved now that we’ve discussed the “what ifs.” What’s next? Answer: Now it’s “go time!” If you have a plan in place, be sure ... Read More »

Santa Claus Rally & Holiday Huddle

Ask The CFP® Practitioner Darcie Guerin darcie.guerin@raymondjames.com “Oh, Christmas isn’t just a day, it’s a frame of mind . . .” ~ A Miracle on 34th Street What does the term Santa Claus Rally mean? The Santa Claus Rally is a catchy phrase and it is cheery to think that even Wall Street receives a visit from Old Saint Nick. Many ... Read More »

Planning to Give

Ask The CFP® Practitioner Darcie Guerin darcie.guerin@raymondjames.com “Wisdom is oftentimes nearer when we stoop than when we soar.” ~William Wordsworth Question: What are the best ways to make gifts to charitable organizations? Answer: That’s a common question that comes up each year around the holidays. For that reason, let’s review how to best fulfill your charitable inclinations and make a difference ... Read More »

Ask The CFP®Practitioner: What’s Next?

Darcie Guerin darcie.guerin@raymondjames.com “Begin challenging your own assumptions. Your assumptions are your windows on the world. Scrub them off every once in a while, or the light won’t come in.”  ~Alan Alda  Question: What are your thoughts on how the Trump presidency will influence the economy and financial markets? Answer: Just when you think there aren’t any surprises left in ... Read More »

Managing Expectations: Hype Versus Reality

ASK THE CFP® PRACTITIONER Darcie Guerin darcie.guerin@raymondjames.com “Government’s first duty is to protect the people, not run their lives.”  ~Ronald Reagan  Question: How much influence will either presidential candidate have on financial markets when one of them moves into the White House? Answer: A study by American Funds® Capital Group reviewing U.S. presidential elections since 1934 shows that market returns over the ... Read More »

Trust Your Instruments

Ask The CFP® Practitioner Darcie Guerin Question: Should I be worried about the problems with Deutsche Bank? Answer: That’s a question many in our industry have been asking. The answer is “it depends.” The markets had just settled down after the post-Brexit rally and now Deutsche Bank is reviving some of that volatility. Much of the concern over the bank’s future ... Read More »

Let’s Get Fiscal

Ask The CFP® Practitioner Darcie Guerin “I always avoid prophesying beforehand, because it is much better policy to prophesy after the event has taken place.”  ~ Sir Winston Churchill (1874-1965) Question: What is the difference between fiscal and monetary policy? Can you also explain the role of central banks, especially during these interesting economic times? Answer: Central banks exist to oversee ... Read More »

Real Estate, a Sector of Its Own

Ask The CFP® Practitioner Darcie Guerin Question: I’ve heard that real estate is being added as a new sector to the stock market. Is this true? Answer: Yes, you’re right. As of August 31, 2016 stock-exchange listed real estate companies officially became a sector of their own. Prior to this, real estate fell under the financial sector. Some investors thought that ... Read More »

Funding Your Future

Ask The CFP® Practitioner Darcie Guerin “Constant dripping hollows out a stone.” – Lucretius, Roman Philosopher, 99-55 BC Question: What is the best way to start spending funds during retirement? Answer: There’s no one-size-fits-all approach, exact scientific formula or precise system to use when it’s time to start taking withdrawals from your retirement funds. It’s more of a subjective and ongoing ... Read More »

Demographics Matter

Ask The CFP® Practitioner Darcie Guerin  “Every new day begins with possibilities. It’s up to us to fill it with the things that move us toward progress and peace.” – Ronald Reagan Question: How will the aging of baby-boomers affect economic growth? Answer: Changes in the age of a large segment of our population will have significant impact on jobs, production ... Read More »

Resilience is the Key

Ask The CFP® Practitioner Darcie Guerin darcie.guerin@raymondjames.com “Pessimism leads to weakness, optimism to power.” – William James, American Philosopher (1842-1910) Question: What are your thoughts concerning the financial markets response to Brexit and the overall performance of stocks and bonds so far for the year? Answer: We’ve certainly had our share of uncertainty and volatility in the first half of 2016. ... Read More »

What To Do When You Don’t Know What To Do

ASK THE CFP® PRACTITIONER Darcie Guerin darcie.guerin@raymondjames.com In the last column we discussed how financial planning involves so much more than just managing an investment portfolio. We explored several aspects of cognitive changes associated with Alzheimer’s and the concerns this evokes relative to financial planning. As promised, today we’ll cover five distinct financial management issues related to conversations with caregivers and family ... Read More »

Myth Busters: Alzheimers and Dementia Planning for Uncertainty Part II

Ask The CFP® Practitioner Darcie Guerin darcie.guerin@raymondjames.com “Strengthen me by sympathizing with my strength, not my weakness.” – Amos Bronson Alcott (1799-1888), American philosopher and Louisa May Alcott’s father. Question: I’m concerned about the possibility of my parent developing Alzheimer’s or experiencing some sort of cognitive decline. What advice can you offer? Answer: Having experienced this heartbreaking disease in my own ... Read More »

Money in Motion; What’s Next?

Ask The CFP® Practitioner darcie.guerin@raymondjames.com “Plans are nothing. Planning is everything.”  – Dwight D. Eisenhower Question: My business sold and the transaction will close next quarter. What are your thoughts on how to proceed? I don’t want to overlook anything. Answer: As with all major changes, my first recommendation is to go slowly. The financial strength, stability and integrity of the ... Read More »

Ask the CFP

ASK THE CFP® PRACTITIONER Darcie Guerin darcie.guerin@raymondjames.com “All men by nature desire knowledge.” – Aristotle 5/29 is National College Savings Day Question: I hear a lot about 529 Plans but I’m not really sure what they are. Could you explain what makes them special? Answer: May 29th is more than the day before Memorial Day or the day when the Indy 500 ... Read More »

Too Much of a Good Thing?

Ask The CFP® Practitioner Darcie Guerin darcie.guerin@raymondjames.com “We can be sure that the greatest hope for maintaining equilibrium in the face of any situation rests within ourselves.” – Francis J. Braceland, former U.S. Surgeon General  Question: My portfolio contains a fair amount of stock in the company I retired from. One of my children still works for the same company. What ... Read More »