An article by MorningstarAdvisor begs the question: “How Safe Is Our Clients’ Money?”  We thought you might like some of the insights we found in the article. It highlights the downfall of MF Global, who filed for bankruptcy on October 31, 2011 as a recent example of why broker-dealer firms fail. However, the article argues that despite the [...]

Five Star Professional, a company that provides research and evaluations of a variety of top professionals, recognized Mark Berg and Timothy Financial Counsel to receive the 2011 Five Star Wealth Manager award. The Five Star Wealth Manager Award is given to professionals that have received the highest overall satisfaction score based on feedback from customers, peers, and regulatory [...]

As Congress is currently debating the debt ceiling issue, Social Security is suddenly front page news again. The first thing to understand is that there IS a solvency problem with Social Security.  Alice Munnell, Director for the Center for Retirement Research at Boston College University points out that, according to the Congressional Budget Office, the [...]

We’re hearing a lot about taxes these days, mostly about the need for Congress to raise or lower them, make them more fair or simpler, or perhaps do away with them altogether. If this feels like a familiar discussion, it is. Since the passage of the Tariff Act of October 3, 1913 (which implemented the 16th Amendment [...]

Either wonder how the banking system works?  This YouTube video provides a less-than-serious discussion on it, but sadly the humor is probably loss on most of us because it certainly feels like the banking system really does work this way. http://www.youtube.com/watch?v=M_3T-Af57Pg&NR=1

We recently were able to hear David Gergen, a Washington insider, speak at the NAPFA conference in Salt Lake City this month.  Among other thoughts about the US debt crisis, he commented on the political workings of the issue.  Gergen told the audience that, despite all the bickering, both sides of the aisle see the [...]

While the U.S. wallows in debt (and suffers the political recriminations that come with it), another country has an astonishing surplus of capital.  By the end of 2010, according to an article in the Economist magazine, The Central Bank of the People’s Republic of China had $2.85 trillion in foreign exchange reserves.  That figure reached [...]

The news from Japan should, first and foremost, be viewed as a human tragedy of horrific proportions. We extend our prayers to the people affected by the earthquake, tsunami and nuclear reactor crises in Fukushima.  The American people are really stepping up to the plate by pledging their support for the humanitarian efforts.  The easiest [...]

Retirees may start to “feel” the tax pain with the rest of us.  The Chicago Tribune reported that John Cullerton (D-Chicago), IL Senate President, suggested that retirement income be taxed at the new 5% rate.  Currently, retirement income such as pension funds, social security and 401(k) distributions are not taxed in Illinois.  If Cullerton succeeds retirees would experience an immediate 5% [...]

Today, March 9, 2011, marks the two-year anniversary of the stock market bottom following the credit crisis of 2008.  The official bottom of the recession (per NBER, an ad hoc group of economists that officially determines the peaks and troughs of recessions) occurred a mere three months later in June 2009.    Following the official end to [...]