Sound Advice

Why your adviser must be a fiduciary   You should insist that your financial adviser be a fiduciary because a fiduciary is legally obligated, when acting in a fiduciary capacity, to put your interests ahead of their own and manage conflicts of interest appropriately. Key reasons: Your interests come first. A fiduciary duty requires the adviser to act in your best interest rather than simply recommending something that is suitable or profitable for them. Fewer conflicts of interest. Some advisers can receive commissions, bonuses, or other compensation for recommending particular investments or insurance products. A fiduciary must address material conflicts rather than allowing them to drive the recommendation. Greater transparency. Fiduciary advisers generally have obligations concerning disclosure, fees, conflicts, and how they are compensated. That makes it easier for you to understand what you're actually paying. Better alignment over the long term. A good adviser sh...

  Name your own price for insurance?   Name your own price for insurance can be dangerous and misleading because insurance isn’t like negotiating the price of a car or a hotel room. The premium is tied to the amount and type of risk being transferred . Here’s why: A lower price can mean less protection. If you choose an unrealistically low premium, the insurer may only be able to offer that price by reducing coverage, increasing deductibles, adding exclusions, or limiting benefits. Insurance pricing is risk-based. Factors such as driving history, location, claims history, property characteristics, coverage limits, and the likelihood and potential cost of a loss affect what coverage reasonably costs. Consumers generally can't simply declare what that risk should cost. The cheapest policy may create a false sense of security. Someone might think, “I have insurance,” but discover after an accident, fire, lawsuit, or other loss that the policy doesn't provide enough...

Now what? For many women, there comes a time when financial confusion reigns.   It may come after a spouse passes or a marriage goes off the rails.   It’s the same situation for women who never married. The questions are many.   The answers may be few.   Toward the top of the list of concerns is the issue of understanding.   Although there are always complex matters, it’s essential that all of the elements are clearly presented in a straightforward fashion.   There’s more.   Presentation is one thing, but comprehension is another. If there’s a question, it must be asked.   Clarity is the key.   Don’t just say I get it when you don’t.   And, it’s essential to grasp how each of the items fits in the overall situation. In the absence of understanding, no decisions will be made. Here are some of the most pressing questions? What’s the smart way to handle my investments? Where should I go for advice? A bank, stockbroker, attor...

Is there a good reason to work with an investment manager who uses separately managed accounts? Yes—but the fact that an investment manager uses separately managed accounts (SMAs) is not, by itself, a good reason to hire that manager. In many cases, an SMA is simply a more expensive way of implementing an investment strategy you could get through low-cost ETFs or mutual funds. What an SMA actually gives you: With an SMA, you own the individual securities directly rather than owning shares of a pooled fund. That can provide some legitimate advantages: Tax-loss harvesting: The manager can sell individual positions that have losses while maintaining similar market exposure. Tax customization: You can exclude particular stocks or industries or manage gains around your individual tax situation. More transparency: You can see exactly which stocks and bonds you own. Customization: The portfolio can be constructed around specific restrictions or ...

Is AI good news or bad news for investments? AI is potentially very good news for investors—but not automatically good news for every investment . The key distinction is between AI as an economic technology and AI stocks at today's prices . As of September 2026, there are compelling reasons for both optimism and caution: The bullish case: AI spending remains enormous. Gartner estimates global AI spending at $2.7 trillion in 2026 , up 49.5% year over year. If AI produces sustained productivity gains, corporate profits could expand well beyond the companies currently selling AI hardware. The valuation case: Investors have already priced in a lot of success. Valuations of major AI companies are elevated and expected long-term earnings growth is well above historical norms. The spending-risk case: The five largest hyperscalers are expected to spend more than $1 trillion on AI-related capital expendit...