One of the main pillars of our client services is to educate and guide our clients as they make important financial decisions in their lives. Below are some resources that can be useful to assist in those decisions depending upon one’s stage of life.
Social Security Administration
New York State 529 Plan
New York State Long-Term Care Insurance Partnership Program
Free Annual Credit Reports
US Savings and Treasury Bonds
TEN QUESTIONS TO ASK A POTENTIAL FINANCIAL ADVISOR
- Are you a fiduciary?
- How are you compensated for your services?
- Do you provide financial planning or just investment management?
- Are you a CERTIFIED FINANCIAL PLANNERTM (CFP)?
- Have you ever been disciplined by FINRA or the SEC?
- What types of clients do you work with?
- How often do you meet with your clients?
- Who will I be working with at the firm?
- What happens to my relationship with the firm if something happens to you?
- What makes your client experience unique?
COMMONLY USED TERMS
What is a Fiduciary?
As a Registered Investment Advisor Bouchey Financial Group acts as a fiduciary, but what does that mean?
A fiduciary is a legal or ethical relationship of trust between two or more parties. A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence. Typically, a fiduciary prudently takes care of money for another person. Their actions and recommendations must be in the best interest of the client.
In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts.
What is an Exchange Trade Fund (ETF)?
An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Most ETFs track an index, such as a stock index or bond index. Index fund have significantly lower costs than actively manage mutual fund and frequently outperform those managers over the long-term.