News & Announcements
What is the most important number you possess which is with you from birth to death? Your Social Security number! Newborns receive their unique number within a few weeks of their birth, where it is used throughout their lives to be claimed as a dependent on their parent’s tax return, apply for that first job, to identify them for credit purposes and eventually to allow them to file for benefits based on their lifetime earnings. Because of the importance of this number throughout your life, it is equally important to protect and review the information tied to it throughout your life. How do you protect your Social Security number (SS#)? Don’t carry your card in your wallet. If your wallet is lost or stolen, thieves will likely have not only your SS#, but will probably get your driver’s license and other information. This can quickly lead to identity theft. Don’t give out your SS# to retailers, phone callers, or others. The practice of using your SS# as your user id for logons has been largely halted and should be Read on! →
At Clearview Wealth Management, we take the safety and security of your personal information very seriously. It is essential in today’s global, wired world to protect yourself and your private information. As we witness almost every day in the news, scams and hackers continue to threaten the security of our personal information. Below are some areas to consider when enacting better protection over your personal information. Password Tips Don’t use combinations of your personal information (names, date of birth, address, zip codes) as these are available to the public online. Use phrases like “I attended 1st grade at Edinboro Elementary in 1999”. For some sites you can use the entire phrase, but if not, you can abbreviate it to something like “Ia1gaEei#1999”. If available, use your fingerprint, key fob or voice recognition as your password. Security of your assets Investment Institutions Secured login to your financial institution website, including complex passwords, security questions and voice recognition security. Signature required for money movements and signature matching technology at custodian site Bi-directional oversight (you can verify our actions through your Read on! →
When saving for retirement, most people save to their employer retirement plans, knowing they are reducing current taxable income, typically receiving an employer match on their contributions, and deferring taxation until retirement. However, if this is the only place where retirement savings takes place, you can be in for a surprise when reaching retirement. If all your usable savings resides in a tax-deferred bucket, every dollar you take out to meet expenses will be subject to income taxation at ordinary income rates, thereby forcing you to take additional money out to pay the taxes. It can also be a shock to find that your retirement income tax bracket isn’t much different than your income tax bracket when you were working. Additionally, higher taxable income levels in retirement will also impact the amount of your Social Security benefit which is subject to taxation and can also result in higher Medicare premiums. So what should you do differently to give yourself more flexibility and lower overall taxation in retirement? There is great benefit in having multiple buckets of savings in retirement, each Read on! →
At this time of year, everyone becomes a master at document gathering. There is a shoe box or a filing system or a folder on your laptop to hold all the tax-related documents which are needed to complete your income tax returns. It requires a diligent attitude to ensure nothing has been neglected or omitted which is important to the outcome of the bottom line. Once the taxes have been submitted for the year, there is always a sigh of relief in getting to completion. Before you pack everything up and put it away for another year, take a step beyond tax prep and begin your life prep. What does life prep really mean? Like tax preparation, the devil is in the details and it is critical to your financial success that you take the time to examine and shore up the other areas of your financial life. You can start with that recently completed tax return. Did you save to your employer plan and thereby reduce your current income? If eligible, did you contribute to a Roth or regular Read on! →
Many have had the pleasure of visiting Asheville and the surrounding area. You may have visited during fall foliage season or in the spring when Biltmore’s gardens were in full bloom. However, there is a lesser known event which occurs in the Asheville area twice a year and may be perfect to explore as you contemplate an important time of your life, retirement. The concept of lifelong learning is not a new one. Many take advantage of learning opportunities throughout their lives, completing degree programs at all ages. However, the Osher Lifelong Learning Institute (OLLI) located in the mountains of Asheville, takes that learning to new heights. The topography of this small corner of the UNC Asheville campus helps and the offerings at the institute offer an amazing variety to please every sense. One of their most unique offerings is a weekend adventure called, Paths to Creative Retirement. The Institute hosts a 2 ½ day workshop focused on the many facets of retirement. While your Financial Advisor typically helps you plan for the financial aspects of retirement, this workshop Read on! →
Cheryl Sherrard was recently quoted in an article entitled “Here’s Why It’s Taking so Long to Hit your Money Goals”, in Grow Magazine. She offered advice regarding employee deferrals to 401(k) plans, reminding readers that contributing only up to your employer match amount is not likely to be enough for your eventual retirement. This is an area where employees can make changes to save more quickly for the future. To see the article in it’s entirety, click here.
When was the last time you met with your Property & Casualty Insurance agent? Here’s why you should get to know them. For many of us, our insurance agent is a name on an insurance card, the person we would call if we were ever involved in an accident or if we had a claim to file. The reason we need to get to know our agent is so that they can get to know us and therefore ensure that we are insured appropriately. I recently spent about an hour in my insurance agent’s office to complete a thorough review of my insurance coverage. A higher than anticipated homeowner’s invoice is what prompted me to initiate this session. The agent’s office was more than willing to meet and discuss the policy in detail. We reviewed all the details of our home, including square footage, floor coverings (hardwood, carpet, tile), upgrades to kitchens and bathrooms, outdoor improvements (screened porches, outdoor kitchens), as well as the basics of how many bedrooms, bathrooms, etc. were in the house. After about 50 detailed questions, Read on! →
Many of us are familiar with the Serenity Prayer. Most individuals understand there are areas of their lives which they can’t control, as well as areas which are entirely within their control. Thankfully, having the serenity to accept, the courage to change and the wisdom to know the difference might just make the financial journey more enjoyable. In financial planning, there are aspects which are “known” and entirely in your control. There are also those things which are “assumed”, that may or may not be in your control and that can lead to an uncertain outcome. A well-constructed plan dives into the details of your life, documents the known factors, and makes educated assumptions about what the future might hold and predicts an outcome. Some of the assumptions however, are made in areas that are entirely out of your control and therefore can sometimes seem like a shot in the dark. So what does all of this mean for a secure future? For retirement planning to be most successful, you must distinguish which areas you can control and those you Read on! →
We all know the significance of April 15th each year, but do you know why April 16th is also important for you and your family? April 16th is National Healthcare Decisions Day. The goal of this “National” day is to inspire, educate and empower the public about the importance of advance care planning. Advance care planning involves taking the time to carefully consider and document your preferences around end-of life care. It also includes the act of legally designating and empowering an agent to make healthcare decisions on your behalf if you were to become unable to do so for yourself. Although these can be uncomfortable topics to consider, approaching these conversations proactively will allow you to stay in better control of the future, whether you are able to personally voice your preferences, or are reliant on someone else. The primary benefits of advance care planning include; Careful consideration of your wants and desires at end-of-life Documentation of those desires, including life-sustaining measures to be avoided or applied Requests for specific comfort measures , surroundings or companions as death approaches Read on! →
A recent article on Grandparents.com entitled “Retiring Soon? Here are the 5 things you should do first” was written by Kristen Sturt and featured advice by Cheryl Sherrard. Cheryl’s advice included the following; Start tracking your new daily expenses Now that you’re not working, your daily expenditures will change, possibly drastically. “I tell new retirees that it can take a year or two to adjust to retirement and really know what you will spend on average,” says Cheryl Sherrard of Clearview Wealth Management in Charlotte, NC, “and you need to know what your retirement income can support, even in bad market years.” Fill your calendar with meaningful activities Why did you retire? Now is the time to discover the real reason. “Find your passion,” urges Sherrard. “I’ve seen too many individuals retire ‘from’ something and not ‘to’ something. While it takes everyone time to get used to retirement, you have to find a reason to get up in the morning, whether it is volunteering, gardening, finding a part-time gig, etc.” Making concrete plans. “Many are surprised that their goal of Read on! →
Cheryl Sherrard, CFP was quoted recently in a Learnvest article by Meghan Rabbitt, entitled, “Just Dating? 3 Money Topics to Discuss before you get Serious”. Dating discussion #1 included talking about your family money histories. For instance, if he grew up with no money, he may have an inordinate fear of never having enough. On the flip side, if his parents always forked over cash, he may have never learned to delay gratification, says Cheryl Sherrard, a Certified Financial Planner™ (CFP®) and director of financial planning for Clearview Wealth Management in Charlotte, N.C. Knowing what shaped his views can help you compare his experiences to your own and see where your differences may lie. “I think people tend to assume that everyone else will deal with money the same way they do, and don’t think about the fact that money—or the lack thereof—can carry huge emotional ties as well,” Sherrard says. Dating discussion #2 focused on your Debt Situation. Debt can be a squirm-inducing, four-letter word in the realm of dating. But it ranks high on the list of important Read on! →
Cheryl Sherrard, CFP will be speaking at the “Seasoned to Perfection” lunch group at Matthews United Methodist Church on February 2, 2016. She will be speaking to the group about “Conversations on Aging” and the 5 essential conversations for families. To have Cheryl as a speaker for your event, click here to contact us with the details.
A recent Forbes.com article entitled “Yes, you can save for retirement and pay your student loans” featured advice by Cheryl Sherrard regarding the desired approach for tackling student debt while also saving for the future. An excerpt from the article follows: Fund your emergency savings account. Once you’re doing the basics in terms of retirement savings and student loan payments, start stashing money in an emergency savings account. If an unexpected event occurs, having a rainy day fund will keep you from borrowing from your retirement account or taking on credit card debt. “You’ve got to have a cushion for emergencies,” says Cheryl J. Sherrard, a certified financial planner and director of financial planning and clearview wealth management in Charlotte, N.C. Increase payments strategically. After you’ve got your emergency account squared away, you can start thinking about the best way to direct any additional funds. If you have high-interest, private student loans, using extra cash to pay those off first is a smart move. If your student loans have low interest rates, you may be off better putting money in the Read on! →
An article posted December 8, 2015 by Sallie Krawcheck highlights “The Top 10 Financial Mistakes Women Make”. Here are her top 3 mistakes; see if they apply to you. Letting your husband or partner manage the money without your involvement. Signing your joint income tax return without reading it. Using your husband’s or partner’s financial provider, even if you don’t really like/know/can’t stand him. For the complete article, click here. If you want to be empowered and educated about your own financial situation, contact a Clearview Wealth Management advisor to discuss.
A recent article by Dougal Williams, CFA highlights the ongoing battle between value and growth in the investment world, giving food for thought in why your portfolio should always be well-diversified. It’s been 15 years since the Coen Brothers’ Oscar-nominated film O Brother, Where Art Thou? was released. Loosely based on Homer’s The Odyssey, the satirical tale follows three escaped convicts as they run from the law in search of buried treasure. For nearly the same length of time, value stocks – those bargain-priced shares which often pay higher dividends – have underperformed growth stocks. As a result, investors who favor value stocks must certainly feel like they are on an unrewarding investment odyssey of their own. How can this be? Aren’t value stocks supposed to deliver higher returns than growth stocks? To read the entire article, click here.
New Survey of Financial Advisors Identifies Top Advice for Retirement Planning 5, 10 and 20 Years Out. Advisors from the National Association of Personal Financial Advisors (NAPFA) Say Tax Planning and Emergency Savings Critical; Longevity Most Pressing Issue For Consumers and Policymakers Chicago, IL – To adequately prepare for retirement, Americans need to minimize taxes, save for emergencies and be prepared to live longer than their parents, according to NAPFA-Registered Financial Advisors who ranked a comprehensive list of tried and true advice for people who are five, 10 and 20 years away from retirement. According to the Federal Reserve’s 2014 survey on the Economic Well-Being of American Households, 39 percent of Americans indicated that they have given little or no thought to financial planning for retirement. Furthermore, 31 percent of non-retirement respondents have no retirement savings or pensions whatsoever. To see highlights of the recommendations made by NAPFA Registered Advisors, click here.
Cheryl J. Sherrard, CFP was quoted in a September 21st article in the Wall Street Journal, focused on what parents should know, and do, about the financial challenges of boomerang children. More millennials are spending early adulthood in the same place where they spent their formative years: in their parents’ homes. It’s crucial that both parties understand the financial implications of this homecoming. For parents, a child’s return often means a greater financial burden, just as the parents may be struggling to meet their own savings and retirement goals. It also can make it more difficult for the millennials to acquire the financial skills they’ll need later in life. According to a recent study by PEW Research Center, the percentage of 18- to 34-year-olds living with their parents is higher today than it has been in decades. Currently, 26% are back in the nest, up from 22% in 2007. The rise has occurred among both high-school and college graduates, and has continued since the recession’s end, despite the fact that millennials are earning more and have a lower unemployment rate than Read on! →
Treven L. Ayers, MA, CFS, CFP® quoted in The Wall Street Journal. The rise of exchange-traded funds and notes makes it easy for everyone to own commodities, and many financial advisers recommend small stakes as permanent elements of a diversified portfolio. But the average broad-basket commodities ETF has lost an average of 7.9% a year in the past five years through July, according toMorningstar Inc. … Still, some financial advisers say a small allocation to commodity exchange-traded products remains important for a long-term portfolio. Viewing the performance of a commodity ETF or ETN over a specific period of time in isolation would be a mistake, these advisers say, overlooking their diversification and inflation-hedging benefits. “Historically, commodities have demonstrated attractive returns with long-term performance and volatility similar to equities,” says Treven Ayers, chief investment officer at Clearview Wealth Management. In addition, commodity investments may offer low correlation to other asset classes, counter-cyclicality and improvements in risk-adjusted returns, says Mr. Ayers, whose Charlotte, N.C., firm manages $70 million. Commodities have been dragged down over the past 18 months, he says, but that won’t Read on! →
What to do and what not to do at this wrenching time: featuring Cheryl Sherrard.
Planning to Retire in 2015? Read this. Before collecting that final paycheck, new retirees need to make important decisions. And it’s not just money. There’s also the issue of how people are going to fill their time in a rewarding way. “You don’t want to see people just stepping off a cliff into the big unknown,” says Cheryl Sherrard, director of financial planning at Clearview Wealth Management in Charlotte, N.C. “Planning and talking about the things that are ahead will make for a much smoother transition.” This is an excerpt from The Wall Street Journal article by Tom Lauricella. To read the article in its entirety, click here.
Treven Ayers, CIO was quoted in the Wall Street Journal as part of an article entitled, “Oil’s Decline Creating Stock Bargains for Financial Advisers”. Treven Ayers, chief investment officer at Clearview Wealth Management in Charlotte, N.C., has also been taking advantage of the downturn, rebalancing client portfolios into the selloff. His firm, which manages $65 million, is finding opportunities in domestic and international stocks as well as energy-focused MLPs and global bonds. If you are a current subscriber to the Wall Street Journal online, you can view the entire article here.
Clearview Wealth Management has gone to great lengths to leverage interactive technology platforms to enhance the overall client experience, improve client-advisor communication, and increase service standards to provide a more proactive and versatile approach to each client relationship. Eric Clark was recently featured by The Wall Street Journal to showcase Clearview’s hands-on approach to help older clients embrace online technology. If you have a subscription to The Wall Street Journal online, you can read the article in its entirety here.
Liz Ann Sonders from Charles Schwab & Co., Inc. shares key takeaways from the Fed meeting this week: Key Points The Fed kept its statement largely intact relative to July’s; opting to retain the much-ballyhooed “considerable time” phrase. It was confirmed that QE’s tapering would be concluded by the end of October; while the Fed’s rate expectations were increased. Yellen took great pains to explain that “considerable time” should not be considered calendar-based guidance. Click here to read the full summary.
Cheryl Sherrard and Megan Rindskopf were honored to speak with a wonderful group today at Elliott Davis’s Women, Wisdom and Wealth lunch in Charlotte! If you’re feeling stretched, you’re not alone. Check out these stats. @CherylJSherrard @Elliott_Davis "Sandwiched" btwn 2 generations? You're not alone. Check out our piktochart for stats pic.twitter.com/3J8gXVrPvW — CVW Mgmt (@cvwmgmt) September 10, 2014
We are once again honored this week to be featured in Roger Wohlner’s blog, The Chicago Financial Planner! Roger was recently named #3 on the list of “Top 100 Most Social Financial Advisers in the US.” Last week Roger featured a blog by Cheryl Sherrard on the Money Conversations you should be having with your spouse regarding caring for your aging parents. You can read an excerpt from the write-up below, or read the whole article, here. We all know that when we get married, we marry the entire family. What we may not realize is that each of us comes into a marriage with expectations about how we will interact with and assist our families. Most couples talk about and come to consensus on topics such as when to visit which set of parents and can usually resolve that by rotating holidays with their respective families. However, the discussions you may not have had revolve around each of your expectations surrounding caring for aging parents and in-laws. You may be fortunate if the prior generation has already dealt with planning Read on! →
We are honored to be featured on SeniorAdvisor.com’s blog! Cheryl Sherrard, CFP® shares her knowledge and expertise with adult children who are trying to navigate the changing relationship with their aging parents. You can preview a snapshot of the article below, or read the entire post by visiting SeniorAdvisor.com. How do you navigate this changing stage of life with your parents, without losing your mind or your relationship with them? Is there an easier way to work through these aging phases with your parents, while still allowing them to be in control of their own futures? This can be a difficult phase for both parent and child, but it can be manageable if approached in the right manner. If you’ve never been down this path before, locating the right resources to fit your parent’s needs can be both time consuming and confusing. You may not know what the realistic options are for your parents based on affordability, as they may be hesitant to share their financial information with you, their child. Many adult children are finding that a good approach is to engage a trusted financial Read on! →
Cheryl Sherrard quoted in CNBC article about why Sandwich Generation savers are in a pickle – by Deborah Nason. Members of the so-called sandwich generation, Tiffany and Andre Trent, ages 40 and 43, were afraid they would have to choose between taking care of their elderly parents and adopting a child. People in such a sandwiched situation are simultaneously caring for a minor, or grown, child as well as for a parent age 65 or older. Around 42 percent of Gen Xers and 33 percent of baby boomers fit this profile, according to a2013 Pew Research report. It had taken 15 years for the Trents, of Blacksburg, Virginia, to recover financially from cutting short their overseas careers to care for Tiffany’s gravely ill father. Childless, they had also been saving up for years to do an overseas adoption. Then Andre’s parents became ill. “We had a big moment of pause,” Tiffany Trent said. “My in-laws have no savings, and my mother in Wisconsin is not well. We will probably have to take care of them, so should we take on Read on! →
Grieving Clients, Sensitive Advisors – an article in ThinkAdvisor highlights how Cheryl’s Stephen Ministry Training has prepared her to work with people in crisis. Cheryl Sherrard, director of financial planning for Clearview Wealth Management in Charlotte, N.C., trained with the faith-based Stephen Ministry to teach her how to help people in crisis. Today, Sherrard listens much more attentively to clients in grief and she pays special attention to non-verbal cues. In the past, she would fill silence with her own talking. She no longer does that. “You get those who are very stoic and just want to work through the details and don’t want to show emotion. You get those who are a wreck and can’t function,” says Sherrard. “For me, it’s about being comfortable no matter what the reaction is and to know when not to push.” Click here to read the article.
What to Do in Case of Financial Emergency Sooner or later, you’re bound to get hit with an unexpected and eye-popping cost. Maybe a hospital stay will slam you with thousands of dollars in out-of-pocket charges, expensive car repairs will take you for a ride or Uncle Sam will send you a hefty tax bill. Ideally, you’ve stashed at least six months’ worth of living expenses in a savings account to help in situations like these (or in case a job loss stunts your income for a while). But especially for young people who haven’t had much time to save, sometimes the cash isn’t there. If you have yet to build up an emergency fund, consider these options to help cover any big, unexpected costs. Click to read the article.
April 24, 2014: FINANCIAL EMPOWERMENT FOR WOMEN. NAPFA’s January-March issue of the Planning Perspectives Newsletter features Cheryl Sherrard’s article, Financial Empowerment for Women. Click here to read the issue!
February 27, 2014: Cheryl Sherrard quoted in Charlotte Business Journal’s January 10th edition of the Financial Planning Special Report, END OF STATE TAX CREDIT BRINGS COLLEGE SAVINGS INTO FOCUS. The Special Report focuses on North Carolina 529 Plans and the recent decision by the NC General Assembly to do away with the state tax deduction that families saving for college have enjoyed. You must be a Charlotte Business Journal online subscriber to read the full article. For those who are not subscribers, you can read an excerpt from the article below, containing Sherrard’s advice for college savings. Cheryl Sherrard, director of planning for Clearview Wealth Management, says college costs are so unpredictable, families should combine a 529 plan with other approaches to fund higher education. “Until the time your child makes a final decision about college, you don’t know what the costs are going to be, and that occurs the spring prior to fall semester,” Sherrard notes. She counsels clients to set up a 529 to build up a baseline of savings for education, but she also encourages them to Read on! →
Cheryl Sherrard, CFP(r) quoted in Credit.com’s blog, “A Valentine’s Day Warning: 45% of Divorcees Didn’t Talk About Money Before Marriage”
February 27, 2014: Cheryl Sherrard, CFP(R) quoted in Credit.com’s blog about discussing finances before marriage. An excerpt from the post is below and the full article can be read here. It helps to set aside time to sit down and go over the whole financial picture. Cheryl Sherrard of Clearview Wealth Management in Charlotte, N.C., listed in an email some discussion topics for couples considering marriage: The assets and debts each person brings to the table Personal spending habits Spending limits — for instance, discuss any purchases more than $100. Joint or separate accounts How to share or split up living expenses Attitude toward debt
Feb. 12, 2014: Our office will be closed Thursday, Feb. 13th due to inclement weather conditions. Our advisors will be working remotely and will be checking email and voicemail regularly.
January 21, 2014: Cheryl Sherrard, CFP® and Director of Financial Planning for Clearview Wealth Management quoted in MSN’s Money section in an article titled, “A ‘sandwich generation’ twist: retirees helping adult kids.” An excerpt from the article is below, and you can read the full article at MSN.com by clicking here. If one’s nest egg is being tapped at high levels in the early years of retirement in order to help launch adult kids, that could have an outsized effect on a retiree’s financial future. “I believe parents need to understand the difference between assisting and enabling their children, as well as the potential damage they are doing to their own futures by using too many of their own assets on supporting adult children,” says Cheryl Sherrard, a financial planner with Clearview Wealth Management in Charlotte, North Carolina. After all, if parents eventually run out of savings as a result of their generosity, the financial responsibilities for their care will likely fall right back on the kids. Says Sherrard: “I tell my clients the greatest gift they can give their Read on! →
December 17, 2013: ATTN: NC TAXPAYERS. The North Carolina General Assembly recently enacted a bill which becomes effective for tax years beginning January 1, 2014. Under new North Carolina law, the current graduated income tax rates will be replaced with a flat tax rate of 5.8% in 2014. All NC taxpayers will be allowed to take a higher standard deduction, but may no longer claim a personal exemption for themselves, their spouse, children, or any other qualifying dependents. Additionally, many deductions and tax credits that impact North Carolina withholding tax are no longer available for tax years beginning January 1, 2014. As of January 1, 2014, the North Carolina Department of Revenue will reset all current withholding elections to zero (meaning NC will automatically withhold the maximum amount of State income tax from your paycheck, unless you instruct otherwise). By now, you should have received notice from your employer prompting you to assess and complete a new Employee Withholding Allowance Certificate. To update your North Carolina withholding election for the 2014 tax year, submit a completed NC-4EZ or NC-4 form Read on! →
October 25, 2013: AARP Magazine – Cheryl Sherrard, Director of Financial Planning for Clearview Wealth Management, was the featured advisor in the Mend Your Money section of the October/November 2013 issue of the AARP Magazine. Click here to read the article.
October 28, 2013: Megan Rindskopf has attained the distinction of being named a NAPFA-Registered Financial Advisor. The National Association of Personal Financial Advisors (NAPFA) is the country’s leading professional association of Fee-Only financial advisors—highly trained professionals who are committed to working in the best interests of those they serve. NAPFA-Registered Financial Advisors are held to a rigorous education requirement in excess of that required by the CFP® Board, and must meet the following additional requirements to be considered for NAPFA’s highest level of membership: Advisor must maintain a CFP® designation Offer comprehensive financial planning services and submit a comprehensive financial plan for peer review Minimum of 3 years of comprehensive planning experience 60 hours of continuing education over the course of 2 years across all core areas of financial planning: Insurance & Risk Management, Investments, Income Tax Planning, Retirement Planning & Employee Benefits, Estate Planning, and Communications; and a minimum of 2 hours in Ethics of Financial Planning (CFP® requirement is 30 hours over 2 years) Must maintain NAPFA’s definition of a Fee-Only Financial Planner— NAPFA defines a Fee-Only financial advisor as one Read on! →
October 17, 2013: Thank you to everyone who came out to Clearview Wealth Management’s First Annual Open House! The event was a big success filled with good food, great friends, and plenty of laughter. It was a joy for us to see some of our closest clients, colleagues and friends together in one place. It is hard not to have fun when you’re in great company. We appreciate everyone’s ongoing support and could not be happier that you have chosen to be a part of Clearview Wealth Management. We hope that you can join us next year, as we have decided to make this an annual event!
October 9, 2013: Eric Clark has attained the distinction of being named a NAPFA-Registered Financial Advisor. The National Association of Personal Financial Advisors (NAPFA) is the country’s leading professional association of Fee-Only financial advisors—highly trained professionals who are committed to working in the best interests of those they serve. NAPFA-Registered Financial Advisors are held to a rigorous education requirement in excess of that required by the CFP® Board, and must meet the following additional requirements to be considered for NAPFA’s highest level of membership: Advisor must maintain a CFP® designation Offer comprehensive financial planning services and submit a comprehensive financial plan for peer review Minimum of 3 years of comprehensive planning experience 60 hours of continuing education over the course of 2 years across all core areas of financial planning: Insurance & Risk Management, Investments, Income Tax Planning, Retirement Planning & Employee Benefits, Estate Planning, and Communications; and a minimum of 2 hours in Ethics of Financial Planning (CFP® requirement is 30 hours over 2 years) Must maintain NAPFA’s definition of a Fee-Only Financial Planner— NAPFA defines a Fee-Only financial advisor Read on! →
Wed. September 18, 2013 Due to an uneven economic climate, Federal Reserve officials decided Wednesday to hold off on discontinuing their easy money policy for the time being. Below is an excerpt from the Fed’s Monetary Policy Press Release detailing the reasons behind Wednesday’s decision. To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. In particular, the Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that this exceptionally low range for the federal funds rate will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee’s 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored. In determining how long to maintain a highly accommodative stance of Read on! →
Sept. 9, 2013: For those clients living in North Carolina, 2014 will bring a host of income tax changes. The Tax Simplification and Reduction Act of 2013 was signed into law July 24, 2013 and takes effect January 2014. 1. Individual Tax Rates The current graduated income tax rates in NC of 6%, 7% and 7.75% will be replaced with a flat tax of 5.8% during 2014 and 5.75% for 2015 and beyond. Eliminates the personal exemption Eliminates the child tax credit for those earning over $100,000; retained at $100 per child for earnings between $40,000 and $100,000; increased to $125 per child for earnings < $40,000. Eliminates both the exclusion of $2,000 for qualified private pension income and $4,000 for federal/state/local pension income. However, NC does retain the “Bailey” settlement exemption for taxation of retirement benefits. This settlement specifically applies to Federal/NC retirees who had 5+ years of creditable service as of 8/12/1989. Raises the standard deduction to $15,000 for Joint; $12,000 for Head of Household and $7,500 for Single filers. Limits itemized deductions for personal residence interest and Read on! →
Sept. 6, 2013: An announcement last week by the U. S. Treasury, as well as IRS Revenue Ruling 2013-17, declared that for legally married same-sex couples, the IRS will follow the laws of “the place of celebration” in determining legal marital status, for all federal tax purposes, including income, gift and estate. This means that it doesn’t matter what state the couple currently resides in, they will now be treated as married for their federal tax filings. There are still complications regarding the state income and estate taxation for these couples, but this announcement does help ensure that federal benefits are determined by the legality of the marriage, not the individual state where the couple resides. This ruling also applies to federal tax provisions where marriage is a factor, including employee benefits, earned income credits, IRA contributions and taking the standard deduction. Since the Supreme Court ruling over the summer regarding same-sex marriages, there have been numerous federal announcements and ruling changes to address each affected area. You can expect continued clarification from the federal agencies involved as they work Read on! →
Cheryl Sherrard quoted in Financial Planning Magazine (July 1, 2013). Group disability is, by far, the way that most people have coverage. It’s often free or available at very low cost, and there’s no medical underwriting involved. But it only goes so far, advisors caution. The benefit can be taxable if an employer pays the premium or if the employees pay it pretax. That could come as a shock to someone who believes they’ll be getting 60% of their salary only to find out that a big chunk of it is taxed. Also, group coverage is based on salary rather than total compensation. Someone whose earnings are based largely on a bonus may find the benefit woefully lacking, says Cheryl Sherrard, director of financial planning with Clearview Wealth Management in Charlotte, N.C. And group disability often places severe restrictions on which type of disability will be covered. The plans usually pay for 18 to 24 months if a person is not able to perform his or her occupation; after that, they typically only continue to pay if that person can’t Read on! →
FOR IMMEDIATE RELEASE June 11, 2013 CLEARVIEW WEALTH MANAGEMENT OPENS IN CHARLOTTE Charlotte, NC — Clearview Wealth Management is proud to announce its opening in the SouthPark area of Charlotte, North Carolina. Established in early 2013, Clearview Wealth Management was formed by three of Charlotte’s financial planning and investment management professionals – Eric Clark, CFP®, Cheryl Sherrard, CFP® and Treven Ayers, CFP®. Combining their 60 years of collective experience, they formed a client-centered firm built on the principles they believe in: Commitment to a lifelong partnership with each client built on a cornerstone of trust. Clearview’s primary focus is on the needs of the client and their successive generations. Focused expertise and technical knowledge to provide well-researched and appropriate solutions for each client. A customized approach to financial planning and investment management that is unique to each client and evolves as the client’s priorities change over the course of their life. A fee only, fully transparent pricing model which allows for unbiased advice with no hidden agendas. No commissions, no confusion. A firm-wide commitment to give back to the community Read on! →
Megan Rindskopf quoted in USA Today. New wrinkles. Pressure to procreate. And what have you checked off your bucket list lately? Turning 30 can be stressful, even before thinking about personal financial goals and how to achieve them. Adults 34 and younger grade themselves worse than any other age group in their personal finance knowledge, with 48% giving themselves a C or lower, according to a survey by the National Foundation for Credit Counseling. Financial planners say that needs to change. Millennials have a lot to do to get their house in order… …”Thirty today isn’t what 30 was a few decades ago. It could mean single and 30, or married with children,” says Megan Rindskopf, 26, a certified financial planner with ClearView Wealth Management in Charlotte. “I think the biggest issue for people in this age range is knowing how best to deal with competing priorities. A lot of people are living paycheck to paycheck. This is kind of the age where you feel you need to grow up.”… Read More at USA Today.