What’s New With Social Security and Medicare?

Thanks tο mу associate Curtis Smith, CFP, fοr thе update:Avoiding Investment Scams

Cουld Medicare soon bе іn better shape? Maybe. At thе ѕtаrt οf August, Medicare’s trustees reported tο Congress thаt Medicare ѕhουld remain financially іn thе black through 2029, a 12-year improvement over last year’s estimate. Thеу credited thе health care reform legislation, citing greater efficiency thаt wουld translate tο savings fοr thе program.

Avoiding Investment Scams

Avoiding Investment ScamsInvestors should always be on alert for investment scams. FINRA published an alert to warn investors about classic types of investment fraud and help them spot and avoid the persuasion tactics fraudster’s use. The following information is taken from that article:

Keeping the Downturn in Perspective – The Stock Market

I’d like to pass on a “back-of-the-envelope” calculation performed by Mark Coffelt of Empiric Advisors, a fellow NAPFA member:

Ten years ago, the S&P 500 yielded about 1.4 percent. The price-to-earnings ratio was close to 28 times. Earnings over the decades have grown about

TSYS Study Reveals Impact of E-Commerce on Consumer Digital Engagement

Sarah Harman, Senior Director of Consumer Payment Solutions at TSYS, recently sat down with PYMNTS to discuss the results of the TSYS Canadian Consumer Choice Study. They also discussed the impact e-commerce has had in boosting digital engagement amongst consumers. The results of the study, comparing the preferences of Canadian consumers versus American, might surprise you.

A 2014 study showed that the preference for credit cards among Canadian consumer was up 34%. Based on the findings of TSYS, this significant growth is due to two primary factors. First, is the attractiveness of loyalty and rewards programsto consumers.

The second factor is the continued growth of e-commerce. The TSYS study revealed that rewards greatly encourage consumers to use one form of payment over another. It also revealed that consumers tend to have a preference for using credit when they make their purchases online.

The TSYS study also noted the difference between the payment preferences of Canadian consumers versus those of the consumers in the U.S. Canadian consumers have both debit and credit cards, yet they tend to prefer credit cards for their payments. In the U.S., on the other hand, with both choices at their disposal, consumers preferred to use their debit cards. In fact, the use of debit cards are especially prevalent in the U.S. when it comes to grocery store and gas station purchases.

The surprising portion of the study was in regards to different mobile features. According to Harman, “Both groups – U.S. and Canadian consumers – tend to prefer mobile features like inquiries and services over payments, at least for now, but we all know the mobile payments space is continuing to grow”.

The study went on to cover the growing popularity of mobile apps among Canadian consumers. Compared to other apps, consumers used their bank mobile apps almost twice as much. Another interesting fact was that the users of the banking apps tended to be between the ages of 25 and 44. The popularity and heavy use speaks to the good quality of the apps as well as their usefulness to users. All in all, Canadian financial institutions should take this as a compliment to their work.

What does this study’s results mean for the Canadian payments industry? With some of the earliest mobile wallet offerings provided by Canadian banks, the continued growth of digital engagement shows promise for the industry; this coupled with the fact that Canada also has one of the highest penetration rates of contactless point-of-sale systems.

Continuing to provide consumers with convenience, ease of use and safety are going to be the three key points to focus on, and banks are not the only ones who can provide such services. Merchants also have equal opportunity to take part in the growth of digital engagement. High Risk Canadian Merchant Accounts provide merchants with the opportunity to keep their business and its customers up-to-speed as well – offering convenience, ease of use and safe options.

Information Of Tribal Installment Loans

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Everyday new links develop by professionals to reduce the loan process complexity and complete the sanction process in rapid manner. Best financial tool for business agent is tribal loans. They get money within twenty four hours of approval time. Process stages list in official website and anyone can apply by showing their property and compensation slips. Supporting representatives work all round the timings made everyone to know important factors involve in applying tribal loans. Across different countries by following this strategies provide money support for people. Other kinds of loans person have to fear if possess low credit level and get loans without complexities in tribal installment categories.

Methods to apply and utilize the merits

Genuine citizenship of country should submit by person for qualifying the loans. Valid and personal bank count details in photocopy and original submit by periods as per terms of financial institutions. One should complete the eighteen ages and possess property or employ in private or government organization for get loans. Low restrictions for usage of obtain funds in tribal loans. Reasonable rate of interest increase support of customers. Cash in moment made people to prefer this type in different categories and online forms simplifies the cost and timings need to stand in bank or financial agencies. Rating given by professionals from various location made native tribal installment loans best to receive from authorize partners. No collateral requirement and direct deposit of amount processing by team in few hours. Repayment amount remain same since flat rate of interest apply against it loan while taking loans. Rates and fees, challenges for gather loans are sending by team through mail address.

Users advising to provide valid mail address for maximize the benefits. Efficient loan rates than payday loans and pawn loans. Flexibility in payment option like direct form bank, credit card inspire the business professionals to select installment loans. Testimonials of popular business experts updating by web developers support viewers to understand the merits. Protect the money from frauds to illegal purposes. In turn offer cash to people those preferring growth in life and do good for society. Money lenders maintain certain conditions if repayment fails by person. To avoid drawbacks, person has to made interest rates in regular manner and complete the loans process as per agreement. Contact the experts through online or direct at office by downloading the norms. Maps are useful to communicate the loan officials direct from their location. User is request to share the suggestion for improving process of approval of loans. Interest rate is feasible for better support and share knowledge to others. Website optimization maintain by developers for better access at any time using mobile or desktop made people easy to apply for tribal installment loans.

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Online traders those prefer to start their business can lend money easy through this process and repay through flexible payment modes. No fax requires for this loan and details share by people in online will prevent from hackers. Transactions are process with secure encryption links and modern software adds support for easy completion of money transfer. In other category of loans approvals process take long period sometime it take than a month. Direct lenders impress the people to choose this loan. Process similar to payday loan methods seems beneficial and excellent support given by people from various countries. Videos of from filling methods, approval process and money deposition resolve all queries. Website contains archives of old business experts relate to loan approvals and repayment links. Few document processing is preferable by people in recent period and various websites offer require support to them. Select the loan length and loan amount in online hereby apply for tribal loans.

Customers realize benefits of tribal loans by review the policy of credit check process. If person lend money through indirect party it may be possibilities for paying additional money or hidden charges. To avoid this situation direct lender policy adopts by authorities in each country and sanctioning of loan process is quicker than other methods. Several options perform by money lenders while sanctioning the loan amount. Financial and personal information handle by direct lenders in responsible manner and understand the benefits. Electronic process simplifies the quick loan process and forum is useful to change the webpage with recent tools. Search with money lender in present days is simple and credit card companies promote their network based upon investment percentage. Lenders in direct contact are low in count and installment loan is provide to people depend on their bankruptcy policies.

Fastest payday service made everyone o prefer this category and fulfill the needs in short period. Certain amount of money provides by retailers in regular period and discussion forum is effective in different aspects. Secure encryption procedure implement by developers and short term cash flow problems. Privacy policy update by developers and approval of payday take short period. With online option for car repair or medical bills user can apply from own place and pay the amount as per flexibilities. Loan representatives from different countries share the feedback and receive funds in short period. Instant decision, no requirement of credit check and paperwork made people to prefer it. Approach to borrowing made by developers attracts the clients.

A Different Dimension to the Banking Industry

Bankconsultantpromontorynowfaces a newchallenge after a New York department investigating the case found out thatthefinancialservice provider lackedcredibilityandindependentjudgment during theinvestigation that started in September 2013. Theregulatortookevidence from two formeremployees of a promontoryandnowsaysthatit’sgoing to denyanyrequestforconfidential supervisory that relates to bankinglaw.

This isgoing to barpromontory from monitoringanyfinancialservicescompanies that are regulated by theagency. Promontoryspokesmanalsosaidthatthey will be stayingaway from theproceedings that are going on at the Supreme Court. Healsoinsistedthatthey are going to litigatethematteranddefend their firm against anyregulatoryreach. Hethinksthatthefirmwasmisunderstood based on a couple of emails sentandtaken out of context.

Accordingto thefactstheyalreadyhave, theythinkthatthey will showhow their professionalsacted with appropriateindependenceandare bound to accuracy. According to Capital New York, John Coffey, a previouscandidate is sought to succeedtheNew York government as an attorney. He would act as a replacement for Ben lawskeywholeftin June to starthis firm.

He is also a federal prosecutor and a one-time lawyerwho has won billions of settlements from theWall Streetbanksfor alleged bankruptcy. On anotherreportfiled by thebloomberb on Saturday, the two banksfiled a complaint that claimedthebanksmanipulation of $5.3 billion shillings. Theyalsonamed 16 banks that werepart of theconspiracyandusuallyused chat roomnamessuch as “the cartel.” It would therefore be important for their customers to have a merchant broker account from emerchantbroker.com, if they are uncertain about certain transaction. That said, they will safely catered for when conducting any business.

This wouldreducethechances of havingillegaltraders that use pseudo namessuch as “bandits” or mafia to illegally conduct their operations. On theotherhand, Morgan chase&co andtheclitigroupalsosettled an exchangeclaimthattotaled $808.5 million dollars.

Is the Recent Market Decline Concerning?

Between April 2nd аnd June 1st, thе S&P 500 declined 9.58% (8.84% οf whісh occurred іn Mау). Iѕ thіѕ concerning?

  • Between 1900 аnd 2010, thе market hаѕ experienced a correction οf 5% аn average οf three times per year.
  • Over thе same period, οn average, thе market declined 10% once per year.
  • Finally, ѕіnсе 1900, thе market hаѕ endured a correction οf 20% еνеrу 3.5 years.
Despite thеѕе corrections, thе market hаѕ risen bу approximately 10% per year over thіѕ time span. Market dips аrе a common element οf investing. Thе best аррrοасh іѕ tο develop аn investment рlаn аnd stick tο іt.
Source: Captial Research аnd Management Company

Study Says Financial Advisors Often Work Against Their Clients’ Best Interests

Financial advisors οftеn work against thеіr clients’ best interests іf іt means earning more іn commissions, according tο a recent study bу thе National Bureau οf Economic Research (NBER). Specifically, “advisors encourage returns-chasing behavior аnd push fοr actively managed funds thаt hаνе higher fees, even іf thе client ѕtаrtѕ wіth a well-diversified, low fee portfolio,” according tο thе study.

Thе NBER reached thеѕе conclusions аftеr іtѕ auditors, pretending tο bе clients, mаdе 284 visits tο financial advisors іn thе Boston аnd Cambridge areas. Thе advisors audited іn thе study wеrе those аn average citizen wουld hаνе access tο through a bank, independent brokerage οr investment advisory firm.

Here’s thе key: Thе advisors audited wеrе usually paid through commissions generated through product sales rаthеr thаn fees fοr asset under management. Consequently, thе advisors іn thе study tended tο mονе shoppers away frοm existing strategy, regardless οf thе initial portfolio, thаt іѕ, even whеn thеу looked аt a low-fee, diversified portfolio.

Surprisingly, thе study аlѕο found thаt advisors tend tο nοt even tailor thе mix οf stocks аnd bonds tο thе age οf thе client.

Thе study concluded “thаt advisors’ self-interest plays аn іmрοrtаnt role іn providing advice thаt іѕ nοt іn thе best interests οf thеіr clients.” Thіѕ іѕ further evidence thаt mοѕt investors wουld benefit frοm working wіth a fee-οnlу financial planner, аѕ fee-οnlу planners never collect commissions frοm thе products thеу recommend. Simply, fee-οnlу advisors аrе paid a fee bу thе client tο represent thеіr best interest, rаthеr thаn a commission bу a product іn order tο promote thе investment whether οr nοt іt іѕ a gοοd fit fοr thе investor. Thus, a fee-οnlу advisor іѕ financially motivated tο always act іn thеіr clients’ best interest.