If you've been following the news the past several months, particularly the financial news, odds are you've heard the word "fiduciary" a few times. Specifically, the Department of Labor's Fiduciary Rule has been the subject of much press. As the client of an advisor, friend of an advisor, or simply someone who likes to keep up with the financial landscape, it is important for you to know what this rule means. But the rule is also complex and in a state of flux, so we'd like to share this update from our July newsletter, in which WealthPoint President Brent Walker outlines the DOL's Fiduciary Rule and how it may affect you:
If you follow investing much, you may have heard some talk recently about the US stock market reaching all-time highs. This is true; as I write this the Dow Jones Industrial Average recently crossed the 20,000 mark for the first time ever, along with new high marks for the S&P 500, the NASDAQ, and various other US stock indices that measure market performance. This seems like a good thing, and probably is for those of you invested in US stocks who have seen some nice growth lately. However, along with these record highs comes plenty of doubt and fear. Are stocks too expensive? Are we due for a correction or market decline? Should I get out while the getting's good?
"Why am I doing this?" This question crossed my mind more than a few times recently as I detached myself from the real world for hours (days? months?) at a time to study for my CFP® (Certified Financial Planner) Certification Exam. I studied after work until I fell asleep, I studied while I ate lunch, I turned down plans with my friends. I knew it was important for me to get this certification, but why?