It always seems to be here before we’re ready: summer is coming to an end and soon the leaves will be begin to fall. Old Man Winter will be pulling out his coat, and we will be planning Thanksgiving dinner and holiday festivities. But before we get immersed in planning our celebrations, it’s time to think about year-end tax planning and opportunities.  In addition to your normal year-end tax planning, here are some other considerations you may want to discuss with your tax preparer and Family CFO prior to December 31.

·        If you are 70½ or older, be aware that you are not required to take a required minimum distribution from your IRA in 2009. This may result in a significant tax savings.   If you do not have other significant income—such as a pension, deferred compensation or other—you may consider the merits of taking a partial distribution from ...

Recently, I met with prospective clients to discuss their financial goals and objectives, as well as the many services Moneta Group could offer them. One of their primary concerns was an emphasis on working with an advisor they could “trust” and who they felt was “competent.”   These were simple requirements, I thought.  In fact, I wondered why they even needed to be discussed. Clearly, anyone seeking financial advice would have the expectation that the person they are entrusting with their family’s financial future would act only in their best interests.

Unfortunately, there are a number of individuals and firms who do not hold themselves to that key aspect of the fiduciary standard, although many consumers assume it is inherent in any financial advice they receive.  However, there are two very different standards in our industry, and not all advisors are held to the fiduciary standard, but instead abide by a ...