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Financial Planners

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BUSINESS
July 26, 1988 | By Glenn Burkins, Inquirer Staff Writer
Reported cases of fraud and abuse by financial planners have jumped 155 percent in the last two years, costing investors $400 million, a study released yesterday by the North American Securities Administrators Association Inc. showed. The survey, which covered 30 states and 79 incidents, found that more than 22,000 investors lost money through apparent fraud or abuse between mid-1986 and mid-1988. That compares with 31 cases of fraud and abuse and $91 million in losses reported in a comparable two-year study done in 1985.
BUSINESS
June 27, 2012 | Erin Arvedlund
America's so-called fiscal cliff is making it hard for investors to plan ahead. The fiscal cliff is the paradox that Congress and the White House now face: If they pass measures to slice the country's massive budget deficit — potentially raising taxes and cutting spending — the very austerity measures helping to reduce a government budget crisis could ultimately plunge us into another recession. What's an investor to do in a portfolio? The fiscal cliff is prompting consternation among financial planners, some of whom warn their retirement-age clients to avoid the stock market.
BUSINESS
February 16, 2003 | By Todd Mason INQUIRER STAFF WRITER
ChFC, CFP, RIA, CLU, EA, PFS. Investors face an alphabet soup of certifications and credentials as they shop for financial advice. Many need help as the bear market rips their account balances. But the proliferation of acronyms adds to the problem of finding the right advice. Experts say the Certified Financial Planner or CFP designation is the gold standard for generalist financial advisers because testing for it is rigorous and the CFP board has proactive disciplinary procedures.
BUSINESS
June 12, 1990 | By Marilyn Schaefer, Special to the Daily News
Campbell Soup has laid off 1,400 employees in Camden over the last several months. AT&T has been cutting tens of thousands of workers nationwide and is closing a plant in King of Prussia. General Electric, Unisys, SmithKline, Fidelity Bank, Penn Ship - the list of companies merging, divesting, reorganizing, downsizing, restructuring and streamlining goes on. No matter what they call it, the result is likely to be the same: Employees from the mailroom to the board room, from the factory floor to the sales floor, suddenly are out of work.
BUSINESS
December 4, 2001 | By Miriam Hill INQUIRER STAFF WRITER
There is a pernicious myth about retirement that goes like this: You have to set up your savings and investments so that they throw off enough income to pay yearly expenses. For many people, this means yanking most or all of their wealth out of stocks, and investing in certificates of deposit, money-market accounts, and bonds. The idea is that retirees should put up with the lower returns on those vehicles in exchange for the security of guaranteeing an income every year. But often, financial planners say, the so-called income portfolio falls short, leaving retirees without enough money to pay the bills.
BUSINESS
May 19, 1986 | By Arthur Howe, Inquirer Staff Writer
Few professions have grown as fast as financial planning. From several thousand practitioners nationwide in the late 1970s, the number of individuals calling themselves financial planners, or some derivative, has exploded to 200,000 to 300,000 today. They are everywhere: Insurance companies have sprouted financial-planning departments, stock-brokerage firms tout the virtues of their financial consultants. Most major banks have hired financial planners. And thousands of lawyers and accountants have added personal finance to their lists of skills.
NEWS
May 25, 1988 | By Charles M. Finn
On a recent Thursday night, the popular television series L.A. Law focused on the doings of today's version of a snake-oil salesman - a financial adviser. The adviser is an oily character, indeed. While his brochures preach "diversification," "conservative estate planning" and "a varied portfolio to minimize risks," the evil counselor knowingly sinks every last cent of a 74-year-old widow into a gold mine without gold. When told his action has reduced the widow to welfare, he snarls, "I don't care if she has to hock her dentures.
BUSINESS
August 15, 1988 | By Glenn Burkins, Inquirer Staff Writer
There is a trade-off between risk and profit. Biggest profits can mean gravest risks. For decades, this has been a popular adage for investors. But just how well do people understand the relationship between risk and return? Not well at all, say two Philadelphia-area professors, Michael J. Roszkowski, a research psychologist at the American College in Bryn Mawr, and Glenn E. Snelbecker, a psychology professor at Temple University. Early in 1989, the men will complete a year-long study on financial risks and how investors associate risk with return.
BUSINESS
May 17, 1993 | Daily News Wire Services
Want to give the bride and groom a gift that will be remembered long after the thank-you notes are sent? Think stocks, not silverware. Bonds, not blenders. Calculators, not china. Investments and money-management tools are great gifts for newlyweds, says New York investment consultant and author Nancy Dunnan. "I think it's a wonderful way to introduce young people into the world of finance and into taking care of their own finances," she said in a phone interview. Ditto for college grads, Dunnan says.
BUSINESS
April 10, 2012 | Erin Arvedlund
We all dream about it - but what if it actually happened? What if, like those winners of the $656 million Mega Millions lottery, we actually had to wonder now what to do with the money? What financial planners and people of means advise is that lottery tickets are just that - a lucky win. But there are real issues associated with planning for a sudden windfall. The Mega Millions winners will now be targets of both legitimate and illegitimate financial advisers, says securities attorney Andrew Stoltmann, who has represented lottery winners who have been defrauded out of the entire amount.
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NEWS
September 12, 2015 | By Walter F. Naedele, Inquirer Staff Writer
As a second baseman, Thomas C. Goldschmidt Jr. touched all the bases, from Little League through Camden Catholic High School and into the adult teams in the U.S. Amateur Baseball League. "From what I heard," his wife, Vinese, said, "he always loved baseball. " She recalled the family story that, because Mr. Goldschmidt seemed ever on the move, "his father, when he was 2 or 3, used to call him Scooter Boots. " On Sunday, Sept. 6, Mr. Goldschmidt, 50, known as Tim, died of a heart attack at Kennedy University Hospital in Washington Township, where he resided.
NEWS
October 24, 2014 | By Bonnie L. Cook, Inquirer Staff Writer
Jacques E. Mauch, 93, a financial planner and active Villanova University alumnus, died Monday, Oct. 20, of pneumonia at Dunwoody Village in Newtown Square. Known as "Jake" to friends, Mr. Mauch lived in Rosemont and Bryn Mawr. He spent most of his 55-year career as a financial and estate planner working for Connecticut General Life Insurance Co. and CIGNA. A 1943 graduate of Villanova University, he served as class president and for the rest of his life was an ardent supporter of the university and its swimming, football, and basketball programs.
NEWS
September 10, 2014 | Michelle Singletary, The Washington Post Writers Group
EVERY TIME one of my children says, "Back in your day . . . ," I wince. After watching an old black-and-white sitcom, my son actually asked me if there was color television back in my day. His sisters thought it was funny. Me? Not so much. I will say this: Back in the day, retirement was a lot less complicated. It was pretty much black and white - simple. I try not to curse, but seriously, retirement planning these days will take you there. Figuring out all the various parts and rules of Medicare alone requires a bottle of aspirin and some choice words.
BUSINESS
June 24, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Financial planners around Philadelphia and the nation are urging clients not to miss out on tens of thousands of dollars in Social Security simply because they can't figure out the best time to claim benefits. The calculus behind claiming Social Security is so complex that local advisers like Clark & Goshow Financial Strategies Group L.L.C. of Malvern are holding seminars called "Understanding Social Security Claiming Strategies. " Advisory websites such as Financial Engines made online Social Security planners available free ( www.financialengines.com )
BUSINESS
July 30, 2012 | By Steve Giegerich, ST. LOUIS POST-DISPATCH
As recently as five years ago, businesses small and large and nonprofits still seemed puzzled by the value of social-media platforms, then derided as a what-I-had-for-lunch frivolity. Even now, they struggle to quantify exactly what impact their investments in social media and Web content produce for their bottom lines. But the strategy is as much defensive as offensive, as it grows increasingly clear that companies with no digital presence are becoming invisible to many consumers.
BUSINESS
June 27, 2012 | Erin Arvedlund
America's so-called fiscal cliff is making it hard for investors to plan ahead. The fiscal cliff is the paradox that Congress and the White House now face: If they pass measures to slice the country's massive budget deficit — potentially raising taxes and cutting spending — the very austerity measures helping to reduce a government budget crisis could ultimately plunge us into another recession. What's an investor to do in a portfolio? The fiscal cliff is prompting consternation among financial planners, some of whom warn their retirement-age clients to avoid the stock market.
BUSINESS
April 10, 2012 | Erin Arvedlund
We all dream about it - but what if it actually happened? What if, like those winners of the $656 million Mega Millions lottery, we actually had to wonder now what to do with the money? What financial planners and people of means advise is that lottery tickets are just that - a lucky win. But there are real issues associated with planning for a sudden windfall. The Mega Millions winners will now be targets of both legitimate and illegitimate financial advisers, says securities attorney Andrew Stoltmann, who has represented lottery winners who have been defrauded out of the entire amount.
BUSINESS
February 5, 2012 | By Dave Carpenter, Associated Press
Despite the best intentions, retirees make the same money mistakes over and over again. If you don't break the pattern of financial neglect, your money may not hold up. Here's a look at some errors and how to avoid them: Being too conservative with money. Treasury bonds, certificates of deposit, and other savings instruments with scant yields can give retirees a false sense of security. They guarantee some income, however small, and can provide soothing protection from dizzying stock market volatility.
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