Financial planning

Finding the right financial advisor to help with your financial needs and goals can be a very complicated process.There are so many things to consider. Every financial advisor has their own area of expertise. The services provided by financial advisors will vary based on the type of advisor but, overall, a financial advisor will assess your current financial situation — including your assets, debts and expenses — and identify areas for improvement.Advisors use their knowledge and expertise to construct personalized…

Peopleimages | Istock | Getty ImagesCNBC enlisted data provider AccuPoint Solutions to assist with the ranking of registered investment advisors for this year's FA 100 list.The methodology consisted of first analyzing a variety of core data points from AccuPoint Solutions' proprietary database of registered investment advisors. This analysis started with an initial list of 39,818 RIA firms from the Securities and Exchange Commission regulatory database. Through a process, the list was eventually cut to 904 RIAs, with…

Hero Images | Hero Images | Getty ImagesWeigh Roth IRA conversionsWith the S&P 500 Index down more than 20% in 2022, many investors are eyeing Roth individual retirement account conversions, which transfer pre-tax IRA funds to a Roth IRA for future tax-free growth. The trade-off is paying an upfront tax bill. However, lower account balances may provide two opportunities: the chance to buy more shares for the same dollar amount and possible tax savings, depending on how much you transfer. And the tax savings may be…

Portra | E+ | Getty ImagesIf you're retired and haven't made the necessary quarterly estimated tax payments for 2022, there may still be time to avoid late penalties, experts say.Retirees must send tax payments four times per year if they don't withhold enough from Social Security, pensions, investments or other sources of income. However, for certain retirees, there's a chance to correct missed payments through required minimum distributions, or RMDs, paid annually at age 72. (Your RMDs may have already started if you…

Catherine Mcqueen | Moment | Getty ImagesIt's easy to transfer cash when a charity pulls at your heartstrings. But other giving strategies may provide a bigger tax break, financial experts say.Despite economic uncertainty, nearly 70% of Americans plan to donate a similar amount to charity in 2022 as last year, according to a recent study from Edward Jones.Most people give cash out of convenience, but it's generally not the most tax-efficient strategy, said certified financial planner David Foster, founder of Gateway…

Hoxton/Sam Edwards | Getty ImagesBond yields jumped this week after another major rate hike from the Federal Reserve, flashing a warning for market distress.The policy-sensitive 2-year Treasury yield on Friday climbed to 4.266%, notching a 15-year high, and the benchmark 10-year Treasury reached 3.829%, the highest in 11 years.Soaring yields come as the markets weigh the effects of the Fed's policy decisions, with the Dow dropping nearly 600 points into bear market territory, tumbling to a fresh low for 2022. The yield…

With lingering high inflation, stock market volatility and recession fears, it's easy to see why some Americans might trim charitable giving.But some donors may be eyeing bigger gifts for 2022 because of that economic uncertainty, according to a study from Fidelity Charitable, a nonprofit enabling investors to give through a so-called donor-advised fund, a charitable investment account.Nearly 75% of those surveyed said they worry about other community members, and 64% are concerned about nonprofits amid threats of a…

Morsa Images | E+ | Getty ImagesAs investors digest another 0.75 percentage point interest rate hike by the Federal Reserve, government bonds may be signaling distress in the markets.Ahead of news from the Fed, the policy-sensitive 2-year Treasury yield climbed to 4.006% on Wednesday, the highest level since October 2007, and the benchmark 10-year Treasury reached 3.561% after hitting an 11-year high this week.related investing newsThese ETFs could help protect your portfolio as the Fed pushes rates higherWhen…

It's been a rough year for the stock market, and some consumers are closing investment accounts due to inflation and volatility concerns, according to a recent survey from Ally Financial. As investors brace for another major interest rate hike from the Federal Reserve, inflation is still hovering near a 40-year high and the S&P 500 is down nearly 20% year-to-date.Meanwhile, nearly 1 in 5 consumers have closed an investing, trading or brokerage account over the past 12 months, with more closures, 21%, among millennial…

Cecilie Arcurs | Getty ImagesThere's about one month until the Oct. 17 tax deadline extension, and experts say filers need to prepare, especially for more complicated returns.An estimated all-time high of 19 million American taxpayers filed an extension for their 2021 returns, according to the IRS.Kevin Brady, a certified financial planner and vice president of Wealthspire Advisors in New York, said tax professionals have faced many challenges, including deadline changes and new Covid-19-related legislation."When you…