Baron Financial Group strives to stay up-to-date on the current information and newest advancements available in the financial industry regarding financial planning and investment management, practice management, and security. The Baron Team members attended the following fall educational conferences.
Victor Cannillo, NAPFA-Registered Financial Advisor, and Nicholas Scheibner, CFP®, of Baron Financial Group, recently attended the Disrupt|Advice 2017 two-day conference in New York City, “Navigating the Present & Future of Financial Advice.” The conference focused on the notion that “wealth management is changing rapidly, and those advisers that will succeed in the long run are those who embrace, prepare for and readily adapt to change.” Topics discussed at the conference included “the myriad forces that are disrupting the world of financial advice, from digital platforms and tools, pricing pressures, regulatory pressures, innovations in practice management…”, among other topics.
Victor attended the NAPFA (National Association of Personal Financial Advisors) Fall Conference via livestreaming. NAPFA is the country’s leading professional association of Fee-Only financial advisors. The educational conference held in Orlando, Florida, livestreamed programs on income tax and retirement planning, diversification in investments, healthcare reform, estate planning, and data security, among others.
James Suazo, an Associate Financial Planner with Baron Financial Group, attended a cybersecurity workshop presented by Charles Schwab. The workshop provided insights as to what steps we should be taking to strengthen our cybersecurity program, based on the National Institute of Standards and Technology (NIST) cybersecurity framework for improving critical infrastructure. Essential topics included:
Establishing governance and roles
Cybersecurity assessment and action plan
Actions to be implemented
James also attended the FPANJ (Financial Planning Association of NJ) Fall Conference on November 1, 2017. The FPANJ discussed various topics including retirement planning, tax planning, investments, and client communication.
Economic and governmental policies are dynamic; attending industry conferences help us to remain current so that we may continue to provide a valuable service to our clients.
We recognize that the financial planning challenges faced by families with special needs members are significant. When it comes to planning for the special needs community, the need for financial professionals who have comprehensive knowledge and experience is essential to meet the specific challenges of these families. We take great pride in helping families address today’s needs and plan for those that are likely to follow.
Nicholas Scheibner, CFP®, of Baron Financial Group, attended Autism New Jersey’s 35th Annual Conference on October 19th and 20th in Atlantic City. Sessions included government benefits, transitioning period for children out of school, and Special Needs trusts.
Autism New Jersey is the state’s leading autism advocacy organization, supporting families and professionals through their four service pillars:
Education & Training
“Autism New Jersey advocates, with a strong and unified voice, for appropriate and effective policies and services that will benefit children and adults with autism living in New Jersey. Autism New Jersey is a nonprofit agency committed to ensuring safe and fulfilling lives for individuals with autism, their families, and the professionals who support them.” -Autism New Jersey
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.