The Importance of Financial Planning Creating a financial plan is the first step in meeting your future goals. By working with a financial advisor to craft a personalized strategy, you gain a clear understanding of where you stand financially what you need to accomplish for future success. Overcoming Financial Fears If you haven’t created your …
Holiday Travel Preparedness: Cyber Safety Tips for a Secure Vacation
The holiday season is here, and millions of people will be traveling all over the world. If you are going on vacation, here are some travel tips to help keep you cyber savvy and safe. Mobile Devices Avoid overpacking: Only bring the mobile devices you need when going on vacation. By mobile devices, we mean …
Voice Cloning Scams: Unmasking the Threat to Security and Trust
The Alarming Rise of Voice Cloning in Fraudulent Activities The use of voice cloning by fraudsters to commit crimes has seen a disturbing increase in recent years. This advanced technology allows scammers to replicate an individual’s speech patterns, tone, and mannerisms with uncanny accuracy. As a result, they can use these cloned voices to manipulate …
Maximize Your Retirement with Required Minimum Distributions (RMDs)
As we age, it’s essential to stay informed about the financial requirements that come along with retirement accounts. For investors aged 73 and older, taking Required Minimum Distributions (RMDs) from tax-deferred retirement accounts is a vital aspect of financial strategy and planning. What Are RMDs? A Required Minimum Distribution, or RMD, is the minimum amount …
Combating Check Fraud: Insights from Our Fraud Specialist
Combating Check Fraud: Insights from Our Fraud Specialist Check fraud poses a significant threat in today’s banking landscape, demanding vigilance from financial institutions. Our team examines every check that meets certain criteria for potential fraud, such as questionable endorsements or irregular signatures. When something is deemed suspicious, action is taking immediately to help thwart possible …
Interest Rates & Market Impact
On Wednesday, September 11th, our CIO, Chris Battifarano, and Tom Richmond, Co-Head of Taxable SMAs at Wasmer Schroeder (Schwab Asset Management), led a live discussion on interest rates and investment impacts. Their insights are crucial ahead of the Federal Reserve rate announcement on September 18th.
Explore the Link Between Fed Rate Changes and Mortgage Rates
In a recent video, Tom Lytton, FineMark’s Chief Credit Officer, talked about the relationship between Federal Reserve (Fed) rate adjustments and mortgage rates. When asked whether mortgage rates will follow suit when the Fed reduces rates, Lytton emphasized that the Fed’s actions do not directly dictate mortgage rates. He explained that mortgage rates are influenced …
Apple ID Scam
If you have an iphone, we have a serious threat to share with you, targeting Apple IDs. Security experts have uncovered a sophisticated text messaging campaign, designed to trick you into sharing your Apple ID credentials. Here’s how the scam works, hackers send out text messages that look like they’re really from Apple. The messages …
Questions to Consider Before Opening a 529 Account
What is a 529 Plan? A 529 plan is an investment account that offers tax-free withdrawals and other benefits when used to pay for qualified education expenses. You can use a 529 plan to pay for college, K-12 tuition, apprenticeship programs, and even student loan repayments. Any leftover funds can be used in different ways, …
Market Update
Stock markets are beginning to regain footing today after the S&P 500’s worst day in nearly two years. Now investors are wondering, what caused this market turmoil and more importantly, what can we expect next. Chief Investment Officer Chris Battifarano explains.
Beware of Bitcoin ATM Scams
Scammers are incredibly savvy when it comes to finding ways to steal your money and we are seeing a new wave of fraud involving cryptocurrency. The tactics are like other scams, only now the fraudsters are demanding payment in cryptocurrency such as Bitcoin. They pose as reputable companies like Amazon, Microsoft, or even your bank, …
2024 Second Quarter Review & Commentary
Election year politics can breed market uncertainty. How should investors navigate this seemingly uncertain period? FineMark’s Chief Investment Officer lays out our approach to portfolio construction and investment management in our second quarter investment newsletter.
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