The DOL fiduciary rule was passed last year to mandate that advisors’ advice should only be in the client’s best interest. Dodd-Frank was passed and implemented in the wake of the Great Recession to help prevent another crash. The Trump administration has suggested that they wanted to get rid of the DOL rule and Dodd Frank.

It accepted wisdom that portfolios need to be re-balanced. Yet this is task that is more complicated than at first blush.


Investor’s Business Daily

Long Term Care is a critical and complex aspect of a retirement plan. Yet it is often not addressed very well. For most people it is well worth the effort. Check also this blog post by Jim Wood.

Giving money to kids can be more complicated than giving a toy. Jean Chatzky goes over some of the key considerations

Student loans are a major investment these days, leading to a substantial average default rate ranging from 18.9% in New Mexico to 6.1% in Massachusetts, according to Nerdwallet.


Magnify Money

The Federal Reserve came through with its long awaited interest rate increase this December 2016. A quarter point increase is small, but it still has impact on people’s finances.


Investment News

Obviously, men also make mistakes when they divorce. Did we mention the obvious path to try to avoid these mistakes?

There appears to be a gender divide about divorce attitudes that leads to mistakes that women tend to make more than men. In my opinion, the divide is not so much about gender as it is about the relative power of the parties.

For many, the last few years before retirement is a planning scramble. Despair not! There are still things you can do if you are late starting.

It is critically important not to overreact to the new administration. In the end, the US economy will outlast Trump .

A lot of things will change with the new Trump administration. However, if you have a strong long term plan, things will probably work out. If not, get a long term plan! For the short run, you may want to mitigate risks.

Notwithstanding the post election market rally we are likely to face a few bumpy roads ahead. It is important not to panic and not to lose sight of long term goals.

In this Investopedia piece, I review some of the issues with divorce and retirement accounts.


CNS News

Who has never been annoyed at their bank? In the wake of the Wells Fargo scandal, this article by Jeanne Lee of Nerdwallet explores the steps to take when you want to ditch your bank!


PR Buzz

A plug for a new book on negotiating from Janet Miller Wiseman. This new book outlines a practical way to negotiate disagreements. Janet Miller Wiseman is a Certified Family and Divorce Mediator and a co-founder of the Massachusetts Council on Family Mediation. She is also the author of Mediation Therapy: Short-Term Decision Making for Couples and Families in Crisis.

Mark Shoeff at Investment News asked if Trump’s tax avoidance is legal and/or moral, and if it is evidence of the famous Trump business acumen.

Suzanne Wooley at Bloomberg wonders if spouses hide retirement savings from one another . She cites a Fidelity study that states that 43% of people do not know how much their partner makes, much less how much is in their partner’s retirement account. Most people also have no idea what they would need to keep up their lifestyle in retirement.

Why might that be? According to Suzanne’s article, they are a range of factors ranging from people hiding their finances to people not having a culture of talking about money (this is my contribution to Suzanne’s article).

Regardless it seems that most of us could use a course in financial communications .

Suzanne Wooley writes in this Bloomberg article that the Betterment robo advisor can now optimize for taxes as well as asset allocation. It sounds like a compelling solution.

After testing the Betterment, it occurred to me that a client had better understand asset allocation, and now taxes as well, if they want to make good decisions. Sure a robot can implement anything you tell them, but you still need to give them the right input!

A robo cannot integrate tax loss harvesting in one account in your wider financial strategy, including your overall tax planning, legacy planning, risk management and coordinate various accounts.

With the current state of development, robo advisors are best used as a tool for Certified Financial Planner professionals, maybe not so much for end users directly.

In the wake of the Brangelina divorce, Dan Goldstein of MarketWatch delves into the issues of disposing of your home when you are divorcing.

There is nothing easy about divorce or widowhood. Ilana Polyak’s article in CNBC summarizes the issues

There are still too many people who feel compelled to raid their 401(k) in times of stress. This article by Debbie Nason for CNBC captures the issues.

Kate Ashford at Forbes reviews some of the critical decisions about college financing.

It is unfortunate that so many people feel that college was not worth it. Kate Ashford at Forbes explores the issues

Diversification is an oft misunderstood concept. This article by Chris Chen reviews some of the issues.

People often want to know how fast they should pay off their mortgage. It sounds obvious (as soon as possible), but it may not be.

What should Prince have done about his estate planning. Unfortunately, Prince left quite a challenge behind.


Investment News

Chris Chen is happy to figure prominently on this list!


Wealth Management


Boston Globe


Health Insurance Taxation Issues Post-Divorce
by Chris Chen, CFP®, CDFATM and Justin L. Kelsey, Esq.

Unintended Consequences of “An Act to Reform and Improve Alimony,” in Massachusetts: Avoiding the Pitfalls on the Road to Reform
by Janet Miller Wiseman, Certified Divorce Mediator, Jeanne Kangas, Esquire, and Howard Goldstein, Esquire, Chris Chen, Certified Divorce Financial Analyst.
Originally published by the Boston Bar Association.