Medicare is health insurance for individuals who are 65 and older, under 65 with certain disabilities, or those who have End-Stage Renal Disease (ESRD).
The 2018 Medicare annual open enrollment period will begin on Oct. 15, 2017 and run through December 7, 2017. Baron Financial Group’s informative webinar, presented by independent Medicare Consultant Mary Jean Cullen (MedicareAssist, LLC), discusses how Medicare works and what you need to know prior and during your Medicare years. This presentation was first held at the September 13, 2016 Wine & Wealth event for Baron Financial Group clients.
You can learn more at Medicare.gov, the official U.S. Government site for Medicare.
An Advisor who is compensated by only YOU, the client:
Working with a Fee-Only advisor means that the advisor is only compensated by the fee that they charge, not by any commissions. The fee could be charged hourly, or it could be calculated as a percentage of a client’s assets under management (AUM), or even a retainer model. The National Association of Personal Financial Advisors (NAFPA) is the country’s leading professional association of Fee-Only financial advisors and they define a Fee-Only financial advisor as “one who is compensated solely by the client with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product.”
Working with a Fee-Only advisor means that the advice you receive is not motivated by the need to sell any products or influence from outside interests. The advice is objective and tailored to meet your specific needs.
You may have read that hackers broke into the Equifax database and stole personal information tied to 143 million people. Ongoing updates from Equifax about this incident are available at equifaxsecurity2017.com
Baron Financial does not use Equifax for any services, but we are sharing this information for educational purposes.
Equifax is one of the three main credit reporting agencies. They collect and maintain individual credit information and sell it to lenders, creditors, and consumers in the form of a credit report.
Freeze Your Credit Reports (after ordering a copy). A freeze stops thieves from opening new credit cards or loans in your name, but it also prevents you from opening new accounts. So each time you apply for a credit card, mortgage or loan, you need to lift the freeze a few days beforehand. Equifax said it will waive all fees until Nov. 21 for people who want to freeze their Equifax credit files.
Regularly Monitor Your Financial Accounts, Credit Cards and Loan Accounts for any suspicious activity
Something else to consider: Sign up by November 21 for the free Credit Monitoring offer from Equifax (equifaxsecurity2017.com). Some experts have offered differing opinions on taking advantage of this service. However, we did want to make you aware of the offer.
James is a valued team member at Baron Financial Group. As an Associate Financial Planner, James performs research and assists the advisors with the creation and updating of financial plans for clients. In addition, James is our technology expert, researching and implementing technological advances within the field of financial planning to help enhance the service we provide to you.
Founding partner, Victor Cannillo, enjoys mentoring James and the other members of the firm. “James is knowledgeable and enthusiastic, and is a great support to the team, whether he is assisting the investment committee with fund research or aiding the firm with the important software we use.”
James is a member of both NAPFA (National Association of Personal Financial Advisors) and FPA (Financial Planning Association). NAPFA is the country’s leading professional association of Fee-Only financial advisors, committed to working in the best interests of those they serve. Like NAPFA, the FPA aids in the professional development of its members and adheres to “a code of ethics that reflects their commitment to help clients achieve their life goals”.
Fiduciary (fi·du·cia·ry) stems from the Latin word fidere, which means “to trust.” The definition of fiduciary, according to Merriam-Webster, is: relating to, or involving a confidence or trust. One can act in a fiduciary manner (adjective) or act as a fiduciary (noun). A fiduciary is trusted and relied on to act in the best interest of the client at all times.
“A financial advisor who follows a fiduciary standard must disclose any conflict, or potential conflict, to their clients prior to and throughout the advisory agreement. Registered Investment Advisors (RIAs) are held to a fiduciary standard of care. By law, they must act solely in the best interest of their clients.” -From the National Association of Personal Financial Advisors (NAPFA)
A recent article in The New York Times by reporter Tara Siegel Bernard posed the question “What kind of adviser should I work with”… “You’ll want to hire the type of financial adviser who promises to act as a fiduciary all of the time, with all of your money, which is a fancy way of saying that person must be loyal to you first. In fact, you should ask your financial planner to sign a fiduciary pledge, a promise not to profit at your expense.”
Baron Financial Group is a Registered Investment Adviser (RIA). We are long-time members of NAPFA, and we sign a fiduciary oath for every client we serve. Advisors in our firm hold the CFP® and CFA® designations, as well as the NAPFA-Registered Financial Advisor designation. We work hard to educate our clients and the public about transparent- and objective-financial advice, where the client’s interests come first.
We are proud to be a Women’s Choice Award® Financial firm since its inception in 2013. The Women’s Choice Award for Financial Advisors was created by WomenCertified Inc. in an effort to help women identify financial advisors and firms that provide quality service and strong commitment to their female clientele. The award is based on rigorous research, 17 objective criteria and additional points of reference that obtain feedback regarding the advisor’s service and practices. Women’s Choice Award® Financial Advisors and Firms represent less than 1% of financial advisors in the U.S. As of July 2017, of the 807 considered for the Women’s Choice Award, 139 were named Women’s Choice Award Financial Advisors/Firms.
This recognition demonstrates our commitment to all clients, but allows us to further highlight our commitment to the women’s market and to our profession — symbolizing the integrity, knowledge and service excellence we strive to deliver to every client.
Click here for a list of the Women’s Choice Award® selection criteria.
Baron is pleased to award a Baron Financial Group Scholarship for the 7th consecutive year. Two deserving graduates from the Fair Lawn High School Class of 2017 were presented their awards in our principal office on Route 208 South in Fair Lawn. Duke Kwon will study Economics and Computer Science at Rensselaer Polytechnic Institute in Troy, New York. Duke’s future plans include developing business apps for iPhones and Androids. Alyssa Kline will be attending Messiah College in Mechanicsburg, Pennsylvania, as an Accounting major. Alyssa’s goal is to become a CPA.
Continuing in our commitment to education, Baron Financial Group is proud to help these deserving students further their education.
Victor Cannillo: When you have good people, with the same common cause and the same purpose, which in our case is to deliver and do the right thing by clients- that is how we came together.
Nicholas Scheibner: What you can expect from the Baron Financial Group is really personalized service; when someone calls in, we know their name, we know their situation and it’s a team here.
VC: People are tired of dealing with these big brokerage firms, so they are looking for a relationship where the people work for me, and it is independent. When prospective clients come in, we say, “follow the money,” that is where the advice is going to be crafted. Ours is whatever the best solution is for the client.
Anthony Benante: We focus on constructing a plan for each client and it is a customized strategy for those clients; we educate the client as to what is going to happen with that strategy, and it is a strategy based on diversification.