Moms are controlling the wallet in households with children, presenting planning opportunities — and challenges — for financial advisers.An analysis of 2011 U.S. Census Bureau data by Pew Research Center found that 40% of all households with children under 18 include mothers who are either the sole or primary breadwinner, up from 11% in 1960. There were two kinds of “working moms”: 5.1 million (37%) were married and earned more than their husband, while 8.6 million (63%) were single moms. Further, married moms also were more educated than their spouse, with 22.7% of
Read MoreHarold Hamm’s divorce case is grabbing advisers’ attention for a reason other than the billions at stake: the dilemma how to split assets tied to a business.Did Mr. Hamm’s business rise in value due to normal market forces over the course of the marriage, or was it due to his own efforts?By now, you’re familiar with the famed $975 million check that Mr. Hamm, CEO of Continental Resources, wrote to his ex-wife Sue Ann Arnall.
Read MoreIf late-in-live divorce can happen to Captain & Tennille, surely it can — and will — happen to some of your baby boomer clients. An analysis of data from U.S. Vital Statistics and from the American Community Survey reveals that back in 1990, about 206,000 people age 50 and over got divorced. That number climbed to 643,152 in 2010, according to a 2012 academic research paper, “The Gray Divorce Revolution: Rising Divorce Among Middle-Aged and Older Adults, 1990-2010.”And the number is forecast to surge to 828,380 by 2030, according to the paper’s authors, Susan L. Brown and I-Fen
Read MoreNovember 22, 2013
“An adviser should tread carefully in this new territory, if it becomes a reality, said Sharon Appelman, director of financial planning and investment management at Francis Financial. ‘Any adviser who does this might want to consider increasing their professional liability insurance,’ she said.”
Read MoreSeptember 15, 2013
“This year, there’s an uptick in clients talking about … increasing their equity holdings. We go back to the basics of risk tolerance. We don’t just talk about returns; we talk about risk-adjusted returns.”
Read MoreAugust 3, 2013
“Sharon Appelman, director of financial planning and investment management at Francis Financial Inc., said both are equally qualified but she leans toward Ms. Yellen. ‘She’ll focus a little more on employment and growth rather than just keeping inflation down, What we need is steady growth.'”
Read MoreMarch 24, 2013
Difficult as it may be, divorce is one of those life transitions that often brings new clients into advisers’ doors. Stacy Francis, president of Francis Financial Inc., says the majority of new clients she sees are going through a divorce.
Read MoreMarch 16, 2013
Stacy Francis on divorce settlements, and how they alter financial planning. Click here to watch the video and/or read the full transcript.
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