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Genovese Burford & Brothers Blog

Read the latest posts from the Financial Advisors of Genovese Burford & Brothers.

Schwab Drops Trade Fees on ETFs to $0, TD Matches

From Investment News, "Just 10 hours after Charles Schwab announced it was eliminating trading commissions on U.S. stocks, exchange traded funds and options starting Oct. 7, rival TD Ameritrade Holding Corp. upped the ante by cutting the same commissions starting Oct. 3." Mike Genovese commented, "We believe Fidelity will follow suit shortly, so all GBB fee-based clients should benefit equally from these cost reductions from our primary custodians." GBB's Investment Director, Rich Cheever, commented, "A price war broke out this month between brokerage firms when Charles Schwab announced that it was eliminating commission for online trading of U.S. stocks, exchange-traded funds and options effective October 7th.  TD Ameritrade has followed suit and eliminated online commission for ETFs and U.S. listed stocks as well.  Fidelity has not made an announcement yet, but we expect that they will be forced to eliminate commissions as well to stay competitive.  The announcement doesn’t impact trading of mutual...
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Is a TOD Designation a Good Idea for You and Your Family?

Is a TOD Designation a Good Idea for You and Your Family?
If you do not create an estate plan, your state has one for you.  It is called the Probate Code.  Probate is an expensive and long drawn out process to organize and disperse your assets to people you may not want to inherit from you.  Attorneys, the courts, and people appointed to be your estate’s representative make a lot of money if this happens.  People that are disinherited by the process would probably be disappointed. One popular way to avoid probate is to use a “TOD” account for savings or investments that are outside of a retirement plan account such as an IRA or 401(k).  The “TOD” stands for “Time of Death”, and under these contractual agreements your assets transfer at the time you pass away directly to your named beneficiaries outside of the probate process.   While TOD accounts are a relatively simple and inexpensive way for you to distribute...
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Don’t Be Afraid to “Swipe Left” on Your Advisor

Don’t Be Afraid to “Swipe Left” on Your Advisor
I’m a lucky man... marking 25 years of marriage to the lovely Augusta.   I’ve never had any need for dating or matchmaking apps, but through the osmosis of being around younger people, I’ve been able to pickup the terminology of “swipe left” or “swipe right.”   For those of you of my vintage, when on some of these dating apps, if you swipe right, you’re “interested.”  If you swipe left, you have other, better options. Consumers in general need to do a better job of “swiping left” on their advisor.  Most people spend more time planning their next vacation than they spend on interviewing and vetting their next financial advisor.  Your financial advisor is the person who will advise you for many years, who will help determine when you can retire and what that retirement will feel like financially.  When you die, one of your family’s first calls will be to...
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Knowing the Signs: GBB Partners with Alzheimer’s Association to Learn More about Alzheimer’s Disease

Knowing the Signs: GBB Partners with Alzheimer’s Association to Learn More about Alzheimer’s Disease
In late July, GBB met with members of the Sacramento Chapter of the Alzheimer’s Association to learn more about this disease.  Our goal: become better prepared to support our clients as they age. The Alzheimer’s Association estimates that one in eight individuals over age 65 has Alzheimer’s and nearly half of people over age 85 have Alzheimer’s or another form of dementia. Over the last couple of generations, these percentages have grown, which makes Alzheimer’s both very prevalent and slowly debilitating—while not being deadly.  On average the disease can last eight years. From an emotional standpoint, Alzheimer’s is very difficult on all involved.  The person with dementia or Alzheimer’s can have periods of lucidity when they can understand their situation. These periods are often very difficult for them because they understand they have a disease that currently doesn’t have a cure. The caregivers (spouses, adult children, family members, etc.) for...
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Three Reasons to Use a Separate Property Trust for Your Inheritance or Gift

Three Reasons to Use a Separate Property Trust for Your Inheritance or Gift
At GBB we are our clients’ fiduciaries, and we keep our clients’ best interests in mind always.  We continuously look to identify issues that our clients may face, and look for ways to help clients make smart decisions with their money.  When you are the beneficiary of an estate or receive a large gift you most likely want to be a good steward of the assets you receive.     Here are three reasons to consider using a Separate Property Trust to accomplish that. To limit access and maintain control A properly drafted and funded trust you create naming yourself as sole trustee is one way to make sure only you have access to, and the ability to exert any control over the assets you’ve received.  You may have any number of reasons to want to do this including being married to someone that has a propensity to spend. To protect...
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