A 30-second read by Nicholas Scheibner: The week of January 29th – Feb 2nd has been designated “Tax Identity Theft Awareness Week.” The FTC (Federal Trade Commission) will be offering some free webinars and chats on this topic. To learn more about the free webinar offerings, click here.
According to the FTC, tax identity theft occurs when another person uses your social security number for the purpose of getting a job or a tax refund. You will usually know when you receive a letter or notice from the IRS saying that you filed more than one tax return or see on their records that you were paid by an unknown employer. To learn more, click here for the FTC’s article on Tax-Related Identity Theft. If you’re the victim of tax fraud, visit the IRS website.
On a related note – if you are interested to know how long you should be keeping your tax returns, please refer to our “What documents are safe to shred? What must I keep?” blog post.
Feel free to reach out to us for any questions.
A 30-second read by the Baron Team: Registered Investment Advisers (RIAs) are fiduciaries. We are legally bound to put our clients’ interests above our own. As a fiduciary, we are required to act with undivided loyalty to the client, which includes disclosure of compensation.
Not all advisors have the same legal responsibilities as a fiduciary, but can still call themselves financial planners, advisers, or consultants. Those who aren’t RIAs are not subject to the same fiduciary standard of care and are not required by law to put the client’s interests above their own. You have to ask – and should, so you’ll understand what possible conflicts of interest may arise when their real allegiance is to their firm, rather than to you.
At Baron Financial Group, we don’t accept commissions or incentives to sell investment vehicles. We provide fee-only financial planning and investment advice to serve your best interests. As fiduciaries, we are required by law to place your interests above our own.
To learn more about what a fiduciary is, click here to view our “What is a Fiduciary?” blog post.
If you have any questions about our role as fiduciaries or our services, please feel free to reach out to your Baron Team.
Are you risky or conservative? Or somewhere in between?
A 30-second read by the Baron Team: When it comes to your portfolio, it is important that you are invested in a strategy that aligns with your ability and willingness to take risk. Baron Financial Group is pleased to provide a free, scientific assessment of your financial risk-tolerance*. The questionnaire will provide you with a risk score, a crucial component when developing a long-term investment strategy.
How does it work?
To access the Risk Tolerance Questionnaire, you can either click here, or press on the “Are you risky or conservative?” button on the footer of our website.
You will be asked to provide your name and email address. Please note that we will only use your email to contact you regarding your score.
You will then be directed to the FinaMetrica website, where you will be prompted to answer 12 questions that will help to determine your risk tolerance score. At the time of this writing, the questionnaire can only be accessed via computer – tablet/phone capability is currently not available.
If you have any questions about the process or would like further information or instruction, please contact a member of our Baron Team.
* The risk tolerance calculator is intended to serve as an informational tool only, and should not be construed as legal, investment or tax advice. Every investment strategy has the potential for profit or loss.