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Genovese Burford & Brothers Blog

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

Gifting Stock: The Gift that Keeps on Giving

Gifting Stock: The Gift that Keeps on Giving
We know many of you might give money as well as presents to your children or grandchildren this holiday season. However, what if you could gift to your adult kids/grandkids and help reduce your tax bill at the same time? You can, and the good news is it can be easy to do.  You don’t have to give them all your holdings of a stock.  Simply identify how many shares you would like to gift, ensure they are transferred by the end of the year, and you’re done!  On March 2, 2009, the Dow Jones Industrial Average closed at 6,763.  Recently it has closed over 27,700.   If you have held individual U.S. stocks over this period, it is possible that the gains in some of these stocks have been 200-400% or even higher. While this type of growth has helped improve your net worth, it can often come with a...
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Should I Retire Outside California?

Should I Retire Outside California?
Just a few decades ago, this would have been an unthinkable question for those of us living in the Golden State.  Songs such as California Dreamin’, Going to California, California Calling and I Left My Heart in San Francisco were gracing the airwaves and California’s population had boomed by 137% between 1960 and 2010.  However, things have changed in the last couple of decades, resulting in a net loss of nearly 3.4 million people (2012).  So, what’s changed in recent years? The most popular reason I hear in meetings is taxes.  California has the highest state income tax rates in the country which top out at 13.3% (2019).  Additionally, California has higher than average sales tax, gas taxes, and energy costs. During our working years, our options are limited as most of us need to live somewhat close to our jobs.  However, once we retire, we are free to roam...
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Will Your Heirs Receive the Estate You Intended?

Will Your Heirs Receive the Estate You Intended?
When we discuss estate plans during our client meetings, we often hear either: “It’s on my list and I will call next week to get it done.” Or, “this doesn’t apply to me…I have my will and trust sitting in my safe.” If you haven’t thought about your will and trust over the last few years and made sure these documents were up-to-date, then please keep reading! That’s because lives and laws can change dramatically in just a few years and these changes can affect your estate.   Successful estate plans often have these attributes: Key participants are identified They reflect your current situation They are kept up-to-date legally Capable people are asked to distribute or manage your assets. Here are some tips for creating and maintaining a successful estate plan: An estate plan includes documents that can be used while you are alive and after you have passed.  When...
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Kevin Chang Named to 2019 Financial Times 401 Top Retirement Advisers

Kevin Chang Named to 2019 Financial Times 401 Top Retirement Advisers
October 10, 2019 – Genovese Burford & Brothers is pleased to announce that Kevin Chang has been named to the 2019 edition of the Financial Times 401 Top Retirement Advisers. The list recognizes the top financial advisers who specialize in serving defined contribution (DC) retirement plans across the U.S. This is the fifth annual FT 401 list, produced independently by the Financial Times in collaboration with Ignites Research, a subsidiary of the FT that provides business intelligence on investment management. Financial advisers from across the U.S. applied for consideration, having met a set minimum of requirements. The applicants were then graded on six criteria: DC assets under management (AUM); DC AUM growth rate; specialization in DC plans; years of experience; advanced industry credentials; and compliance record. There are no fees or other considerations required of advisers who apply for the FT 401. The final FT 401 represents an impressive cohort of...
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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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