Library

If you think you know everything there is to know about money, wealth, and financial systems, you’re probably wrong.

These classic finance documentaries are a great starting point for anyone who wants to lift the curtain and take a closer look at international finance systems, how money works in the real world, and what you can do to protect yourself in a world where an awful lot is out of your control.

The Warning

The Warning was released in 2009, just a year after the now infamous — and largely unforeseen — 2008 financial crash that left many ordinary Americans reeling.

At the time, economists were aware of the issues being created by the actions of financial institutions — and specifically by a boom in sub-prime mortgages — but the potential impacts were constantly ignored or downplayed.

This documentary looks back at the events that led up to the crash, with an emphasis on the warning signs that more of us — and certainly more financial experts — should have been paying attention to.

The film focuses on the story of the American attorney and former public official Brooksley Born. She was responsible for highlighting the risks inherent in the virtually unregulated markets that eventually caused a financial meltdown, but her warnings went mostly unheeded by those who could have stepped in to avert it.

97% Owned

This 2012 UK-made documentary seeks to answer fundamental questions about money, governments, central banks and worldwide economies. 97% Owned addresses how debt-based financial systems work, and the often devastating impact for ordinary citizens when they’re mismanaged.

The film asks the questions that seem so obvious that many of us never really think about them.

Where does money come from?
Who creates it?
Who actually decides how it gets used?

While it’s made from a UK perspective, many would agree it’s a great overview of how money works around the world, and why there are so many problematic issues in our current financial systems.

The Corporation

You’ve likely already heard of this multi-award-winning documentary, released in 2003 and — many would say — more relevant than ever in today’s world. The film examines the nature of the modern business corporation and the huge role it plays in wealth creation, shaping society, and the choices individual citizens have in terms of how they live their everyday lives.

It’s been said that if a corporation was a person, it would be a psychopath: a saying often attributed to NYU professor, Alison Taylor. Professor Taylor argues that corporations — often focused solely on profit — exhibit behaviours that would undoubtedly be considered psychopathic in an individual. The Corporation dives into the sometimes shocking fine details of how these entities operate and why.

In Debt We Trust

The subtitle to this one sums it up: How money and credit control your life. In Debt We Trust builds on the themes of the The Corporation in that it unpacks how corporations really need consumers to be constantly making poor financial decisions in order to fully maximize profits.

In a world where getting credit is mind-blowingly easy, and paying off debt is back-breakingly hard, this documentary makes for hard but perhaps essential viewing. We are all culturally indoctrinated to worship at the altar of consumerism, and understanding the credit industry can be a key to making slightly better financial decisions.

Broke

Broke is both a fascinating look into the lives of the (temporarily) rich and famous, and a valuable lesson in what not to do when managing personal finances at any level. The film focuses on how elite athletes manage to blow their fortunes, often in a surprisingly short time frame, with 60 percent of NBA players ending up broke within five years of retirement, and 78% of NFL players managing it in two.

As IMBD puts it:

“Sucked into bad investments, stalked by freeloaders, saddled with medical problems, and naturally prone to showing off, most pro athletes get shocked by harsh economic realities after years of living the high life.”

While many of us don’t have quite the same problems as the average ex-pro athlete, there is some overlap, and a lot of lessons to be learned.

There are hundreds of documentaries on both personal finance and the big picture issues caused by our current finance systems. These are just a few that can give you an overview of some of the most important issues that we need to understand and navigate.

About the Author

Karen Banes is a freelance writer specializing in entrepreneurship, parenting and lifestyle. She writes articles, website content, ebooks and the occasional award winning short story. Her work has appeared in a range of publications both online and off, including The Washington Post, Life Info Magazine, Transitions Abroad, Brave New Traveler, Natural Parenting Group, and Copia Magazine. Learn More About Karen

The small decisions you make in your 20s can impact your personal finances throughout your life. It all starts with taking control, which is hard, but really important.

Those who aren’t able to keep track of their finances often feel out of control, regardless of whether they’re a six-figure earner or a student on a part-time minimum wage job. Taking control — through small, regular actions — is what enables you to slowly improve your finances, no matter where you are right now.

In your 20s, you’re just getting started, and unless you have a lot of generational wealth, you’re likely to be struggling a little. Here are the small things you can make to put you on the right track.

Check Your Balances Regularly

Knowing what you have, what you owe, and where everything is, can be a significant first step to feeling in control. Balances you want to know (at least roughly) at any given moment include:

Your checking account
Your savings accounts
Your student loan debt
Your credit card debt
Any other debt (like a car loan, overdraft, consumer credit arrangement or personal loan)

Watching these balances going slowly in the right direction — even by a few dollars at a time — can have a big impact on your self-esteem and your confidence in your own ability to keep taking steps in the right direction.

Monitor Your Net Worth

If you keep an eye on all of the above, you’ll have a rough idea of what your net worth is. It’s literally just the value of your assets minus your liabilities. In your 20s that’s often simply the money you have minus the debt you carry, and it’s not unusual for it to be a minus number. However, many people find it useful to actually do the math and keep a running total of their net worth, updated monthly.

It’s another figure that can make you feel like you’re making progress, even if it’s just from one minus number to another (slightly lower) minus number. Eventually you’ll go from a negative net worth to a positive net worth. Celebrate it, and try to stay there.

Keep Personal Finance Top-of-Mind

Your 20s is a great time to educate yourself on personal finance, and that doesn’t have to be as boring as it sounds. Find some well-respected financial influencers, bloggers or podcasters who resonate with you and who create content you find fun and easy to consume. Then follow them online, via your favourite platforms.

Make sure whoever you follow is relevant to you, your current financial position, and your goals, whether that’s Dave Ramsey or someone like The Broke Black Girl. In other words, don’t rely on advice from people who have never been in your position.

Use What You Learn

Once you’re following your favourite “finfluencers”, take some steps to act on their advice, but carefully. Get ideas from them, but then make sure you do your own research, and take further advice, before making any big changes or investments for example.

Don’t just read post after post, watch video after video, or listen to podcast after podcast, without taking action. You’re not just following these people for entertainment. Use some of what they teach you to improve your current condition.

Think Before You Spend

This is a simple one, but not as easy as it sounds. Tracking your balance and your net worth, as already suggested, can really help.

When you’re actively trying to get to that positive net worth, or hit the next milestone in your savings account, it can really motivate you to pass on that extravagant impulse buy, or that crazy night out you won’t really enjoy.

Always Compare

You may have heard comparison is the thief of joy, and it often is. The exception in when you’re making a big purchase, or even a smaller one. Always compare prices before buying.

Use online comparison sites whenever you can, and certainly for things where there can be a big difference in cost for similar features. (Think things like insurance, credit cards, and vacations).

And those impulse buys you avoided? If you get home and still feel like you need what you nearly bought, search for a cheaper version online. Whether it’s a pair of designer shoes or a new fishing rod, there’s almost certainly a better bargain to be found somewhere online.

Learn to Value Your Financial Decisions

Someone recently told me she was more proud of driving an old, mid-range car that was fully paid off, than she would be of buying a brand new, top-of-the-range vehicle with a $800 payment. She followed up with, “But it’s not a pride you can really revel in online, is it? It’s not a very aesthetically pleasing kind of pride.”

She was joking, but I know exactly what she meant. Your social feeds may be full of friends and acquaintances showing off their brand new cars, or homes, or exotic vacations. We all understand what is meant now by an “aesthetically pleasing” life. Which is why it’s so vital to learn to have pride in the good financial decisions you make that don’t translate to that.

Whether it’s the fully paid off vehicle, the paid-in-full-every-month credit card, or the still-low-but-steadily-increasing credit score, take pride in what matters to you. Don’t worry about whether you can post a pleasing visual representation of it online.

Small actions, taken regularly, add up. Start where you are and work with what you’ve got. And celebrate — internally at least — every step in the right direction.

About the Author

Karen Banes is a freelance writer specializing in entrepreneurship, parenting and lifestyle. She writes articles, website content, ebooks and the occasional award winning short story. Her work has appeared in a range of publications both online and off, including The Washington Post, Life Info Magazine, Transitions Abroad, Brave New Traveler, Natural Parenting Group, and Copia Magazine. Learn More About Karen

A man wearing a dark suit, light blue shirt, and patterned tie smiles at the camera against a plain dark background. — Greg Swenson, Senior Analyst and co-Portfolio Manager, Leuthold Group | Image Credit: Institute for Innovation Development

[Investment management can be said to share an operating environment that the U.S. military has characterized as VUCA – volatility, uncertainty, complexity, ambiguity – which acknowledges the difficulties in analyzing, responding to, planning for situations, and making hard decisions. There are no simple, straight-forward answers. Many dimensions of risk and opportunity have to be calibrated into a strategic decision or specific course of action.

With all the confusion and disruptions in the markets today, it may be a good time to take a harder look at tactical investing methodologies which were designed to grapple with this specific challenge head-on. We decided to re-visit the Leuthold Group – a Minneapolis-based market research and early pioneering tactical money management firm that offers a family of mutual funds, SMAs, and ETFs.

In our previous interview with the Leuthold Group – “How Do You Read and Diagnose the Health of the Market” – we focused our discussion on their macro research analysis process and the creation of their Major Trend Index which provides a disciplined tool to gauge the overall health of the market and determine the appropriate equity exposure for their investment portfolios.

In our current article, we dive deeper into the next steps of their tactical quantitative approach of deciding where to deploy investment capital through their Leuthold industry group rotation strategy that focuses on targeting specific industry groups rather than sectors.

We reached out to Greg Swenson, Senior Analyst and co-Portfolio Manager of a number of funds, including the Leuthold Select Industries (NYSE: LST), the Leuthold Core ETF (NYSE: LCR), and Leuthold Grizzly Short Fund (GRZZX), to ask him to share the firm’s tactical investment methodology and perspectives on asset allocation and rotation strategies in volatile, uncertain, complex, and ambiguous equity markets.]

Hortz: Why does your tactical investment selection process and asset allocation rotation decisions focus on industry groups versus a more traditional investment sectors approach?

Swenson: Whether it is a tactical sector rotation portfolio or a fundamental bottom-up stock selection portfolio, more attention has traditionally been paid to broad sectors than industry groups. We know sectors matter, but there is a wealth of information to extract by going deeper, focusing on the industries that make up those sectors. While there are 11 broad sectors, there are currently 163 sub-industries – the most granular level of the Global Industry Classification Standard (GICS) structure. There are tremendous differences among sub-industries within the same sector, whether we are looking at them from a fundamental, macro, or volatility perspective.

Sectors have also become increasingly tied to a handful of mega-cap stocks. Due to the rise of the Mag-7, there are several sectors where two or three stocks account for more than 50% of the market cap. In certain instances, allocating to specific sectors has basically turned into making a call on a few individual stocks. This has caused correlations between sub-industries and their sectors to fall to levels not seen since the Tech Bubble (chart below), presenting a tremendous opportunity for industry selection within sectors.

A line graph shows the aggregate correlation between GICS sectors and their sub-industries from about 1996 to 2024, with values ranging from roughly 55% to 80%. The trend fluctuates over time, peaking around 2010.

Hortz: Can you give us a brief example of a sector versus an industry comparison to further illustrate your points?

Swenson: Take a sector like Industrials where there are 24 individual sub-industries with a wide range of fundamentals and characteristics. There are pro-cyclical industries that have betas over 1.5 like Airlines or Construction Machinery, but also more defensive industries with betas closer to 0.5 like Environmental Services (Trash) or Research & Consulting Services. Just last year (2024) there was a 63% performance gap between the best performing Industrial (Airlines) and the worst performing (Air Freight & Logistics).

Being able to analyze and target the wider opportunity set that sub-industries offer allows for more diversification from a style and market exposure standpoint. We recently released a research piece that goes into more detail on how the different levels of GICS groupings differ from one another.

Hortz: What processes and tools have you developed to guide you in selecting industry investments through all the disruptions and noise in the markets? How do they consider all the market, economic variables, and factors into your decision-making process?

Swenson: We use a quantitative framework called the Group Selection Scores (GS Scores) to help us with targeted industry selection. That framework has been in place at The Leuthold Group for just over 30 years now – a lengthy history for live model performance. We evaluate roughly 120 industry groups (a hybrid of levels 3 and 4 of the S&P GICS structure) made up of the largest 3,000 stocks that trade on U.S. exchanges (including some ADR’s).

While some sector rotation strategies choose to focus on either price action or macro data, we incorporate both, along with valuations and fundamental metrics, to get a well-rounded profile of every industry in our universe.

The GS Scores have generated positive performance over both the long term and, more recently, successfully navigating a variety of market conditions in the process, as the chart below shows. The main drivers of outperformance from the GS Scores are 1) a high hit rate or batting average – getting more groups right than wrong, 2) industry avoidance – the ability to completely avoid parts of the market that are underperforming, 3) identifying long secular winners.

Bar chart showing annualized performance scores (May 1995–June 2025) for three groups: Attractive, Universe, and Unattractive, over Inception, 3, 5, and 10 years. Attractive groups consistently outperform the others. — GS scores, as of 6/30/2025, Leuthold Group

Hortz: What is an example of an industry the scores pointed to that ended up being a big winner?

Swenson: We owned the Semiconductor Equipment industry for over 8 years, from mid-2016 to late 2024, during which the group generated annualized returns of 28% versus 9% for the average industry group and 15% for the S&P 500 over the same period. The group worked out so well because we held it during its evolution from a highly cyclical, boom-bust industry to the more stable, persistent growth and profitable industry that is today. While these companies were always key suppliers to chip companies, they are now viewed as an essential part of the global supply chain.

The GS Scores were invaluable in not only identifying the industry early on but also helping us hold it through volatility during which we otherwise would have sold it. Ultimately that is one of the key features of the process – giving us conviction to make portfolio decisions that are uncomfortable and that we probably would not do if left to our own judgment.

Hortz: On another area of your investment methodology, what role does equity hedging play?

Swenson: We have a fully invested, 100% short approach called the Grizzly strategy. That strategy is offered as a stand-alone mutual fund and is also the method we use to hedge within our own tactical accounts when we want to lower equity exposure. Keeping the strategy fully invested is a key feature because investors know how much exposure they are taking off when they invest. It is also a more tax efficient way to bring exposure down versus selling long holdings and realizing capital gains.

While we use a quantitative approach here as well, unlike on the long side where we are looking for broad themes, our shorts are much more stock specific – looking for securities that are overvalued and, for any number of reasons, will likely be rerated lower at some point in the near future.

A short only product can be challenging to manage during extended bull markets like we are currently in, but when sentiment shifts, it is an invaluable option to have in our toolkit – both for us and our clients.

Hortz: How does Leuthold work with institutional investors and financial advisors?

Swenson: We offer all of our strategies via separately managed accounts and publicly available vehicles, including mutual funds and ETFs. In January, the Select Industries mutual fund transitioned to an active ETF which we are very excited about. The ETF wrapper is particularly suitable for an active equity approach like this as it improves on fees, transparency, and is much more tax efficient.

We also produce market research for other institutional money managers that focuses on macroeconomic, top-down market, sector, and industry views. Our asset management clients find this research particularly helpful in adding color to conversations with their own clients as well.

As a boutique money manager, we pride ourselves on our accessibility and transparency with our investors – we truly view the relationship as a partnership.

This article was originally published here and is republished on Wealthtender with permission.

About the Author

Bill Hortz

Founder Institute for Innovation Development

Bill Hortz is an independent business consultant and Founder/Dean of the Institute for Innovation Development- a financial services business innovation platform and network. With over 30 years of experience in the financial services industry including expertise in sales/marketing/branding of asset management firms, as well as, creatively restructuring and developing internal/external sales and strategic account departments for 5 major financial firms, including OppenheimerFunds, Neuberger&Berman and Templeton Funds Distributors. His wide ranging experiences have led Bill to a strong belief, passion and advocation for strategic thinking, innovation creation and strategic account management as the nexus of business skills needed to address a business environment challenged by an accelerating rate of change.

Merging lives also means merging money—and that’s where things can get tricky. If you and your spouse are navigating the financial complexities of a blended family, you’re likely juggling everything from separate 529 plans to different retirement goals. But there’s one often-overlooked relationship that can make a big difference in your financial clarity: your CPA.

Your CPA can be a valuable advisor, offering insights and guidance on tax matters essential to your financial well-being.

Open communication is key to making the most of this relationship. Whether you’re exploring tax strategies, understanding the tax implications of investment opportunities, planning for retirement, or making business decisions, your CPA can work closely with your financial advisor to help you make well-informed financial choices.

Here are some important questions to consider discussing with your CPA before the end of the year.

1. What are the pros and cons of filing separately vs. jointly?

Filing jointly often results in tax savings, but it’s not always the best option, especially for blended families. If you and your spouse manage finances separately due to different financial obligations, such as child support or alimony, filing separately may better align with your situation.

A qualified CPA can help you assess both approaches based on your income, liabilities, and family dynamics. Their guidance ensures you choose the filing method that supports your overall financial strategy and complies with any legal or financial mandates specific to your family.

2. What tax deductions, credits, or dependent claims should we consider?

Every year, your eligibility for tax deductions and credits can shift based on your income, family structure, and changes in tax laws. For blended families, the landscape is even more complex, especially when managing shared custody, multiple dependents, or varying income sources between spouses. Common considerations include child tax credits, education deductions, healthcare premiums, and support payments.

Your CPA plays a critical role in identifying applicable deductions and credits, factoring in investments, income streams, and significant life events. They can help you spot tax-saving opportunities you might otherwise overlook, especially in your first year as a newly blended household.

Claiming dependents is another key area that requires thoughtful planning, particularly if children from previous relationships are involved. Sometimes legal agreements dictate who claims which child, and in other cases, strategic decisions can optimize your tax benefits. The IRS has specific rules for claiming children of divorced or separated parents, which your CPA can help navigate.

Additionally, certain credits, like education credits, come with income limits and dependency requirements that can affect your eligibility. Collaborate with your CPA well before tax season to map out a claiming strategy. This may involve coordinating with an ex-spouse to ensure compliance and maximize benefits. By planning ahead, you’ll avoid last-minute surprises and position your family for the best possible tax outcome.

3. How do changes in tax laws, my finances, or my family affect my estate plan?

Keeping your CPA informed about your estate plan ensures it stays aligned with both your family’s evolving circumstances and the latest tax laws. Estate planning is closely tied to your financial situation, which can shift with life events such as marriage, divorce, the birth of children, or changes in income, assets, or business ownership. For blended families in particular, it’s important to revisit how you and your spouse intend to divide your estates. Will you split assets evenly, or structure inheritances differently based on individual wishes or existing children?

At the same time, tax laws governing estates, inheritances, and wealth transfers can change significantly over time. Your CPA can help you stay ahead of these shifts by identifying how updates in the tax code may impact your plan, and by providing strategies to minimize tax liabilities while preserving your legacy.

With their guidance, you can ensure your estate plan remains tax-efficient, legally sound, and reflective of your family’s shared vision for the future.

4. How should we title and report our businesses and investments?

If you or your spouse owns a business, rental properties, or significant investments, it’s essential to carefully consider how those assets are titled and reported. Much of this decision depends on how fully you’re merging your finances, but consulting a CPA before making any changes is key to avoiding unintended tax consequences or legal complications.

You’ll also want to consider whether any assets are earmarked for specific heirs. If so, titling them appropriately can help ensure a smooth and intentional transfer when the time comes. This is an area where collaboration between your CPA, financial advisor, and attorney can be invaluable—each brings a critical perspective to help align your ownership structure with your financial and estate planning goals.

Another important discussion is whether to keep certain assets separate or merge some or all of them as part of your shared financial life. A CPA can provide guidance on ownership structuring, help you track your basis in each asset, and assist in preparing for efficient gifting or inheritance strategies. Having a clear plan in place not only simplifies tax reporting but also helps preserve family harmony and ensures your assets are managed in line with your shared vision for the future.

5. Are there any changes to health insurance premiums or deductions that could affect my tax situation?

Keeping up with changes to health insurance premiums and deductions can be challenging, especially considering their impact on your tax liabilities and financial planning. Your CPA stays informed on healthcare laws and regulations, including how they relate to changes to premiums and deductions, so they can help you understand any potential tax implications.

Being aware of changes to healthcare policies helps you plan effectively. For instance, updates in healthcare laws or changes in your coverage status can influence the deductibility of your health insurance premiums. Your CPA can provide guidance on eligible deductions based on your circumstances, such as employment status, types of coverage, and medical expenses.

Additionally, they can recommend strategies to optimize your deductions, such as using Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs), to ensure you make the most of available tax benefits.

6. How can I maximize tax deductions for my business or self-employment income?

Maximizing deductions and optimizing your self-employment income for tax benefits can be complex, but your CPA has the expertise in tax laws and regulations specific to businesses to help you identify deductible expenses you might overlook and advise on effective strategies.

Understanding the nuances of deductible expenses, depreciation, and business credits can significantly impact your tax liability. Your CPA can guide you on structuring transactions and managing finances to maximize tax deductions effectively. They can also assist with navigating complex areas like home office deductions, retirement contributions, and health insurance premiums.

Effective financial management and compliance with tax laws are crucial for your business’s success and sustainability. Building a strong relationship with your CPA ensures you have a trusted advisor to turn to with questions, helping you make informed decisions and optimize your financial strategy.

Partnering with Your CPA

Engaging with your CPA and staying informed about key financial questions is essential for sound financial planning. This becomes increasingly important as you bring two households together, combining some aspects of your finances while deciding whether other components should remain separate. As your family’s status changes, your opportunities for potential tax savings can change as well.

This article was originally published here and is republished on Wealthtender with permission.

About the Author

Brian K. Peterson, CFP®, CPWA®, MBA Planning Built For Blended Family Life

Brian K. Peterson, CFP®, CPWA®, MBA | Blended Family Financial

🔗 Website | Wealthtender Profile

I confess.

Until a couple of years ago, I was a crypto skeptic. No, that’s not strong enough.

I didn’t think Bitcoin was all smoke and mirrors. I was sure of it!

Then I started reading what a semi-retired investment banker had to say about it. Dave Coker said he’s been buying Bitcoin every week for years.

Say what?!

An investment banker, who’s been around the financial block far more than I’ll ever be, who has enough invested in conservative dividend stocks to cover his expenses five times over, that guy thinks Bitcoin is a good investment?

That started me thinking more seriously, maybe I should do some of the same?

Putting My Toes in the (Crypto) Water

At that point, I had no idea how one even buys crypto.

I was clueless about self-custody of crypto coins (“Not your wallet, not your coins…”).

Hot wallets, cold wallets, software wallets, hardware wallets, multi-sig wallets — that was all just word salad to me.

So, I took the simplest, easiest, and possibly safest (given my ignorance) way in. I bought a bit of Bitcoin through PayPal’s convenient crypto account (not an endorsement — do your own due diligence).

Then I bought some more.

Then I bought some of “alt coins” they offered. And I started reading to educate myself enough to stop figuratively walking around with a large “Scam me!” sign on my forehead.

That was December 2023.

Fast forward a few months, and those alt coins went down enough to shake me loose, but Bitcoin appreciated by almost 50%.

Great News, But with a Cloudy Lining

With an investment going up 50% in four months, you’d think I’d be thrilled.

I was, but it also got me thinking – what happens when I decide to take profits? A hefty tax bill, that’s what.

I’m one of the rare breed who actually think paying income taxes is good. That’s what funds those things we often take for granted – great highways, national defense, mostly safe food, mostly safe drinking water, mostly breathable air, etc.

It’s just that if my investment kept going up anywhere near that rate (yeah, right!), in just five years, a $10k investment would be worth over $4.3 million!!!

And even at long-term capital gains tax rates, the tax bill when selling it would be over $860k!

All that, with just $10k invested.

But what if I invested even more? I don’t know about you, but owing millions in taxes isn’t my idea of fun.

How to (Legally) Avoid Paying Taxes on Billions in Gains

Around that time, I read about Peter Thiel’s $5 billion Roth IRA (yeah, billion with a “b”!).

The TL;DR of it is that he invested about $2k of his Roth money in startup companies, and when they exploded in value, his shares ended up worth about 250 times as much as it takes to make it to the top 1% in net worth for Americans.

Even ignoring all his other assets, that would have put him solidly in the middle of the Forbes 400 list of wealthiest Americans!

If you know anything about Roth accounts, you know that Thiel would owe exactly $0 in taxes on that $5 billion investment, despite 99.99996% of it being pure gains.

Pulling My Own (Small-Time) Thiel Maneuver (Hopefully!)

At the time, I had about 2.5% of my invested net worth in a Roth IRA.

Also around that time, the SEC approved a dozen or so new spot Bitcoin Exchange Traded Funds (ETFs).

Hmmm…

What if I invested 100% of that in a Bitcoin ETF? I mused.

If Michael Saylor is to be believed, Bitcoin could go to $13 million per coin by 2045. But even if it never hits that exorbitantly lofty price and goes to “just” $1 million, my Roth IRA would be worth over 15 times its starting value.

That would increase it from 2.5% of my invested net worth to nearly 40%, while increasing said net worth by almost 40%. And best of all, like Thiel’s $5 billion Roth, none of my Roth’s 15x increase would be taxable – sweet!

And for the mathematically curious among you, if Bitcoin ever hits $13 million, my net worth would increase sixfold (assuming none of my other investments ever made a dime). And since none of it would be taxable, the after-tax impact would be closer to 10x!

But What If Bitcoin Goes to Zero?

Before we go all starry-eyed, we have to acknowledge that this is a risky bet.

Here’s a non-exhaustive list of risks, in no particular order:

Saylor’s company owns nearly $72 billion worth of Bitcoin, so if, for whatever reason, they’re forced to liquidate, Bitcoin would crash.
Since Bitcoin is considered by many to be “digital gold,” what happens if that narrative is ever abandoned, either because some other cryptocurrency becomes the new darling investment of the day or because Bitcoin loses grace for any other reason?
If quantum computing development happens faster than Bitcoin encryption can be made “quantum-decryption-proof,” Bitcoin could become worthless.

So, keeping these and other risks in mind, and remembering that Bitcoin has gone through some incredible crashes (99% loss in a single day in 2011, 83% in 2013, 84% in 2017-18, plus several crashes of over 50%), I had to consider the downside.

My worst-case scenario was that Bitcoin literally goes to zero.

In that case, my investment portfolio would lose 2.5% of its value. Not fun, for sure, but what does it mean in practice?

I expect that we can live on under 4% of our portfolio value per year in retirement. If the portfolio loses 2.5%, that’s not even a bad year in the stock market. And even if we put such a 2.5% loss on top of other potential investment losses, we could either draw 4.1% instead of 4% in retirement, or reduce our retirement budget by (a very survivable) 2.5%.

An Asymmetric Bet I Was Happy to Make

Considering that the (implausible) worst-case scenario is easily survivable, and that even a semi-plausible best-case scenario adds 40% to our net worth, I decided that putting 100% of my Roth money into Bitcoin (via a spot ETF) was a no-brainer bet.

Should You Do the Same?

Here are several reasons for you to avoid doing what I did:

If when, not if, Bitcoin crashes again, you’ll panic-sell because you can’t sleep at night, don’t do it.
If losing a few percent of net worth would move you from barely able to afford retiring to just not able to afford it, don’t do it.
If your portfolio is already extremely risky and you don’t want to make it even more so, don’t do it.

But if none of the above is true for you, I’d suggest you seriously consider it.

It’s not for nothing that BlackRock, the largest asset manager in the world, recently started suggesting that its clients put 2-3% of their investment portfolio into Bitcoin.

Tim Dyer, Owner, Dyer Wealth Management, sees this as a valid option, for some, “Investing Roth IRA funds in cryptocurrencies may or may not be a good idea. Clients want to take advantage of tax-free growth within the account. However, they don’t want to ‘squander’ that opportunity by investing in something that might lose a significant fraction of its value.

“One metric we use with clients to assess suitability is if they qualify for the ‘mega’ back-door Roth opportunity through their employer-sponsored plan. This often lets them plow up to $60k into their tax-free Roth account per year. In such instances, using a small portion of those funds to speculate longer-term with cryptocurrencies, like Bitcoin, may be warranted. If clients simply contribute up to the $7k annual limit ($8k if over age 50), the juice may not be worth the squeeze, so to speak.”

In fairness, there are many out there who see a 2-3% allocation as woefully short of what they think is called for.

Given the current fiscal realities, with our national debt already over 20% higher than our Gross Domestic Product (GDP) and increasing by the minute, like the dollar, Euro, Yuan, etc. facing large inflationary pressures due to massive money printing, etc., these people think that even a 40% allocation (!) is too little.

Shane Galante, Co-Founder of CSG Financial, thinks even such a large allocation can sometimes be reasonable for certain people, “Younger clients, say under the age of 40, can have 5-25% of their assets allocated to Bitcoin in their Roth IRA.

“One of the questions I ask to see if this could be a good fit is, ‘Are you okay knowing you could lose 50% of this money at any given moment?’ Bitcoin is an extremely volatile asset and is known for major price swings, up or down. If a client can’t stomach these moves, they may be better off investing in something else.

“People need to understand that while Bitcoin and other cryptocurrencies are becoming more mainstream, they are relatively new markets. Bitcoin, the first cryptocurrency, was created in 2009, 16 years ago. The stock market, by comparison, has been around since the 1800s.”

Well, color me (just a tad) conservative, but I hesitate to make such a huge bet on Bitcoin, especially when even a few-percent allocation could make us multi-millionaires.

The Bottom Line

Crypto is far from a sure bet.

And if you want to invest in it other than through an ETF, you need to learn a lot to do so safely.

But if you agree with me that the investment case is highly asymmetric, with a survivable worst-case downside vs. an incredible upside potential, you may want to consider investing in Bitcoin. And if you do, you may want to consider investing through a Roth account so your (potentially huge) gains would be tax-free!

Because sometimes, while playing it safe ensures you don’t lose big, you’ll probably still lose compared to those who take carefully calculated risks.

Disclaimer: This article is intended for informational purposes only, and should not be considered financial advice. You should consult a financial professional before making any major financial decisions.

About the Author

Opher Ganel, Ph.D.

My career has had many unpredictable twists and turns. A MSc in theoretical physics, PhD in experimental high-energy physics, postdoc in particle detector R&D, research position in experimental cosmic-ray physics (including a couple of visits to Antarctica), a brief stint at a small engineering services company supporting NASA, followed by starting my own small consulting practice supporting NASA projects and programs. Along the way, I started other micro businesses and helped my wife start and grow her own Marriage and Family Therapy practice. Now, I use all these experiences to also offer financial strategy services to help independent professionals achieve their personal and business finance goals. Connect with me on my own site: OpherGanel.com and/or follow my Medium publication: medium.com/financial-strategy/.

Learn More About Opher

Divorce after 50—often called “gray divorce”—is becoming increasingly common. While it carries many of the same emotional challenges as any divorce, it also brings unique financial and tax implications that demand careful attention. At this stage of life, decisions made during divorce can have long-lasting consequences.

Why Gray Divorce Is on the Rise

Longer life expectancy, shifting social norms, and changing personal priorities are driving more couples to separate later in life. In many cases, couples realize that the life they want in retirement no longer includes their spouse. Others face challenges in long-standing marriages that have grown apart. But the financial consequences of divorcing at this stage can be particularly complex, especially with retirement on the horizon.

Dividing Retirement Assets

Retirement accounts like IRAs, 401(k)s, and pensions often represent a significant portion of marital wealth. These need to be divided equitably, and in many cases, this requires a Qualified Domestic Relations Order (QDRO), especially for workplace retirement plans.

It’s crucial to avoid early withdrawal penalties and unnecessary taxes. Proper structuring ensures assets are transferred appropriately and remain protected within retirement vehicles. Spouses should also consider the long-term income implications of dividing these accounts—what may seem equitable on paper might result in unequal retirement readiness.

You may be eligible to claim Social Security benefits based on your ex-spouse’s work record—provided the marriage lasted at least 10 years and certain other conditions are met. This can be a vital source of income in retirement, especially for individuals who did not work outside the home or who earned less than their spouse.

Timing also matters. Claiming too early or late can significantly impact lifetime benefits. A financial advisor can help model different claiming strategies to maximize this income stream. Medicare eligibility and costs can also shift post-divorce, especially if coverage was previously through a spouse’s employer or if a change in income affects premiums.

Tax Filing & Deductions

Your tax filing status changes post-divorce, often increasing your overall tax liability. Understanding these shifts ahead of time can help with planning. For example, the transition from “married filing jointly” to “single” or “head of household” can result in different tax brackets and benefit phase-outs.

Since 2019, alimony is no longer tax-deductible for the payer nor taxable to the recipient. That alters how spousal support is structured, potentially impacting negotiations.

Additionally, the marital home—if sold—could trigger capital gains tax. The $250,000 per-person exclusion is available, but only under certain conditions. Coordination of timing and ownership is key to minimizing tax exposure.

Long-Term Care & Insurance

Divorce prompts a reassessment of insurance needs. This includes life, health, and especially long-term care insurance. These policies are critical in safeguarding assets later in life, particularly if one or both parties will now face aging alone.

Without a partner to rely on, long-term care becomes a greater risk. It’s also important to clarify who, if anyone, will be responsible for caregiving—financially or otherwise—in the future. These decisions often need to be formalized to avoid confusion and disputes later on.

Estate Planning Reset

Post-divorce is the time to update all estate planning documents. This includes wills, powers of attorney, healthcare directives, and any trusts. An outdated estate plan can leave important decisions in the hands of an ex-spouse or create unnecessary complications for heirs.

Beneficiary designations on retirement accounts, insurance policies, and trusts should also be reviewed and revised. These designations override wills, so failing to update them could unintentionally benefit the wrong person.

Conclusion: Planning Is Power

Gray divorce can feel overwhelming, but the right planning brings clarity and control. With retirement so close, there’s little margin for error. Every decision—from dividing assets to managing healthcare—should be made with both the immediate and long-term impact in mind.

A fiduciary financial advisor can help you understand your options, avoid costly mistakes, and create a new financial plan that reflects your goals and values for this next chapter. With support and a solid plan, it’s possible to build a secure, independent future.

This article was originally published here and is republished on Wealthtender with permission.

Mitchell J. Thompson, CFP®, CDFA®, ChSNC®, AEP® Family | Fixer | Fiduciary | Advisor | Wealth Manager

Mitchell J. Thompson, CFP®, CDFA®, ChSNC®, AEP® | MJT & Associates Financial Advisory Group

🔗 Website | Wealthtender Profile

Money doesn’t just affect your bank account—it touches nearly every part of your emotional well-being.

Financial stress can lead to anxiety, sleepless nights, relationship conflict, and feelings of shame or failure. On the flip side, a sense of financial clarity and control can bring peace, confidence, and freedom.

At Life Story Financial, we believe that money is more than math. It’s emotional. It’s personal.

And for many women—especially those navigating divorce, career change, or retirement—it can feel overwhelming. That’s why tending to both financial and mental health is so essential.

The Emotional Toll of Financial Stress

Nearly half of U.S. adults say that money is a major source of stress in their lives. This stress often shows up in subtle ways:

Avoiding opening bills or account statements
Arguing with a partner about spending
Feeling shame around past financial decisions
Worrying constantly about the future
Delaying important decisions because of fear or uncertainty

These feelings can be particularly intense during major life transitions. Divorce can create not only legal and emotional upheaval, but financial confusion. Retirement can bring anxiety about whether you’ll have enough. Even a sudden windfall—like selling a business—can cause stress if you’re unsure how to manage it.

Financial Health Supports Mental Health

When you gain clarity about your financial life, something shifts. You start to feel more grounded, more capable, and more at peace.

This doesn’t mean you have to be wealthy to feel well. It means knowing:

What you own
What you owe
Where your money goes
What your goals are
And how your current choices support—or hinder—those goals

This clarity fosters confidence. It helps you feel more in control, more resilient, and better prepared for life’s uncertainties.

Why Women Face Unique Financial Pressures

For many women, money is wrapped up in cultural expectations, family roles, and career disruptions. You may have stepped away from paid work to raise children, supported a partner’s career, or found yourself managing finances alone after a divorce or widowhood.

That history can shape how you feel about money today. And it can leave you feeling isolated or behind—even when you’re financially secure on paper.

At Life Story Financial, we hold space for these experiences. We recognize that financial advice must be personal. Compassionate. And rooted in your story.

Practical Steps to Support Both Financial and Emotional Health

You don’t need to overhaul everything overnight. But there are small steps you can take—starting now—that support both your mental and financial well-being:

1. Get it out of your head and onto paper. Write down your financial to-dos. Seeing them in black and white reduces mental clutter and helps you take action.

2. Identify your financial stress triggers. Is it credit card debt? Uncertainty about retirement? Not knowing where your money goes each month? Naming it helps reduce its power.

3. Take one small, meaningful action. Schedule a meeting with a financial advisor. Review your bank statements. Increase your retirement contribution by 1%. Even tiny steps build momentum.

4. Use values as your compass. Financial wellness isn’t about perfection. It’s about aligning your money with what matters to you—freedom, security, generosity, creativity, or legacy.

5. Work with the right guide. Having someone in your corner makes all the difference.

Someone who listens to your goals, understands your concerns, and helps you make a plan that feels right for your life.

It’s Okay to Ask for Help

You are not behind. You are not alone. And it is never too late to make peace with your money.

If you’re feeling overwhelmed, know that support is available. At Life Story Financial, we help women like you untangle their financial questions and create plans that feel empowering—not intimidating.

Money is a tool. When used intentionally, it can support a life of purpose, joy, and stability.

his article was originally published here and is republished on Wealthtender with permission.

Michelle Francis Fee-Only Financial Advisor for Women

Michelle Francis | Life Story Financial

🔗 Website | Wealthtender Profile

[The rapidly accelerating rate of technological development has serious business consequences. The explosion of new tech options and applications are manifesting themselves as a dizzying array of complex decisions affecting firm strategy, client engagement, competitive positioning, and future growth. This speed of innovation is creating an atmosphere at many firms of confusion leading to inaction.

To put this into practical context, the issue of having access to and learning how to implement and apply AI to your business began on November 30, 2022, with the initial public release of GPT-3.5. Just two and a half years later, there are over 30 major frontier-scale models (e.g., Claude, Gemini, LLaMA, Grok) and well over 1,000 publicly known models now encompassing Large Language Models (LLMs), Multimodal Models (text + image + audio/video), Domain-Specific Models (legal, medical, financial), Open-Source Models on platforms, and Proprietary Internal Models used by enterprises and startups. The decision on how to employ AI to your business has become exceedingly more complex.

That is why our current business environment is a vastly different operating environment than we are used to. It is driven by a “compounding” rate of change as technology keeps feeding on itself and getting more powerful and versatile. To be able to compete and thrive in this new business dynamic, firms need to keep up with that rate of change. They have to be fully in it.

Business leaders cannot afford to sit this out and wait to see where it is going and plug in later. The gulf between where firms are deciding to wait and rely on tweaking traditional legacy systems/processes and where competitors are engaging clients and operating at scale with the latest applications of AI and other new technologies, can be insurmountable. The age of slow AI experimentation is over as these latter future-focused wealth management firms are demanding quick implementation and proof of outcomes.

To learn more about this need for speed in tech today, I was introduced to Sam Kaessner, VP of Engineering, at TIFIN AMP – an asset management AI platform which combines data science, engineering, AI, and visualization capabilities to drive more intelligent distribution. In our conversation we explore how TIFIN’s Data Science and Engineering teams have adopted an “innovation at speed” mindset that is geared to generate measurable commercial outcomes exponentially faster.

This interview delivers a strong message to financial firms that there is no longer enough time to just experiment – you need to start figuring out how to execute, evaluate, and evolve with velocity to compete in today’s hyper-competitive and ever-changing business environment.]

Hortz: What is an “Innovation at Speed” mindset?

Kaessner: An “Innovation at Speed” mindset for us is about having a collective mental attitude and operating approach that drives our whole team, our whole company, to do things in days and weeks, not months and years – to vigorously create and effectively deploy AI capabilities and new technology solutions on an accelerated timeline.

We further believe this mindset and approach is vital to staying effective in the rapidly changing AI landscape. This rapid pace of AI development creates a “forcing function” that requires companies to innovate quickly to stay competitive and leverage the latest technology and tools.

We no longer have the luxury of taking six months to validate an idea or “experiment” in the AI tech space. When you are working in this exponentially changing tech environment, you have to stay on top of that progress – making sure you are part of and plugging into that speed of innovation.

Hortz: How does this mindset drive different work behaviors and outcomes? How is the actual innovation development process altered?

Kaessner: We can just solve client problems directly, skip all the bureaucracy, and really focus on the pain points of our customers, like wholesalers and sales managers in our AMP business unit. Our business mantra and tech structure allow us to quickly deploy new features and solutions for clients based on direct feedback and dynamic collaboration. We are then able to go from identifying a client need to rapidly build, iterate, and deploy a solution in just a few weeks, skipping the traditional pilot/prototype phase.

TIFIN has built a flexible, scalable, distribution technology platform (AMP 3.0) that allows us to quickly deploy speed-to-value business solutions for clients, keep up with the pace of technology and technological change, knowing we have guardrails and systems in place.

Adopting our “innovation at speed” mantra, along with structurally maintaining separate innovation business units and operating structures in place, ensures that we can still move fast, but also still have the maturity of a trusted partner that financial firms can collaborate with to keep up with rapid technological changes.

Hortz: Can you walk us through an example of your “innovation at speed” process on a recent TIFIN product or enhancement?

Kaessner: Just last week, our customer asked us for some specific features and capabilities to be added on a Tuesday and we delivered them the following day. We are at this point where we can add new capabilities really quickly because our enhanced AMP 3.0 platform infrastructure and scalability, now in its current third iteration, allows us to maintain our pace of rapid deployment to deliver quickly on client needs.

We can also look across all of our asset management clients and have seen how their needs have played out before for guidance – we know what we need to do and how we need to deliver the needed change.

Another example is when we talk to wholesalers, we are able to get their direct feedback and solve their pain points directly. Because we are working with them in collaboration as a trusted partner, they are helping us shape our product offerings developing new features again in weeks to solve their needs. They recently asked us to deliver a number of ways for them to sell specific products more effectively – which we are actively working on right now.

Part of innovation is being really close to our customers and end users – the people that we solve problems for. That is what we are focused on doing.

Hortz: Where is this “innovation at speed” taking you and your team? What areas of AI development and applications for financial services are you exploring?

Kaessner: Our platform has provided a lot of value by having done all the hard work of being selective with what data is chosen and how it is organized to provide an experience that is highly tailored to the Asset Management industry.

One thing that we are looking at right now to add further value for distribution professionals is to enhance our AMP 3.0 platform by adding AI agents and Large Language Models(LLM) workflows. Having spent time getting the client’s data curated on the AMP platform, we want to create features that allow their data to be more integrated, easily accessible, and strategically used through added AI tech capabilities.

What the platform end user could do then is use an AI agent to say, Hey, I want to write a meeting agenda, so get me everything from AMP platform that we know about this potential advisor buyer – needs and interests – and write me a meeting agenda to maximize my time with them discussing the right opportunities and adding value to the advisor. And so, in a nutshell, it is really just providing a trusted way for AI to access data on the platform and build these workflows on top of the client’s curated dataset.

Hortz: What is your advice to financial firms on how to gear themselves up to fully implement and apply AI and other technologies at this juncture of the tech cycle in financial services?

Kaessner: You need a great deal of experience and expertise to develop AI and technical systems and even more to stay ahead as the pace of innovation accelerates. Keeping up requires more than just hiring smart people. It demands a deep technical culture and a mindset built around rapid iteration, constant learning, and execution at the edge of what is possible.

For most financial firms, that is incredibly hard to build and sustain internally. Internal teams often underestimate just how much effort, time, and specialization it takes. I say that not as a tech vendor pitching services, but as someone who has been on the other side and knows the nature of the beast.

I would highly suggest that this should not be conducted as a vendor/purchase decision. You are not purchasing a fixed product. That is not the way to look at it. What you are doing is determining a longstanding strategic tech partner. You want someone who is built for speed and adaptability as the technical landscape shifts. Not just addressing today’s tech needs for your firm but also addressing your ongoing future needs as they change and AI capabilities shift.

This article was originally published here and is republished on Wealthtender with permission.

About the Author

Bill Hortz

Founder Institute for Innovation Development

Bill Hortz is an independent business consultant and Founder/Dean of the Institute for Innovation Development- a financial services business innovation platform and network. With over 30 years of experience in the financial services industry including expertise in sales/marketing/branding of asset management firms, as well as, creatively restructuring and developing internal/external sales and strategic account departments for 5 major financial firms, including OppenheimerFunds, Neuberger&Berman and Templeton Funds Distributors. His wide ranging experiences have led Bill to a strong belief, passion and advocation for strategic thinking, innovation creation and strategic account management as the nexus of business skills needed to address a business environment challenged by an accelerating rate of change.

What this article covers

If you’re a confident, self-directed investor, you may not want a financial advisor who takes over management of your portfolio — but you might still want expert guidance on the decisions that really matter. Advice-only financial advisors offer exactly that: professional financial planning and investment guidance without managing your assets or earning commissions, at a cost that’s typically far lower than traditional advisory fees. This guide explains what advice-only services are, how they compare to traditional advisory relationships, what questions to ask before hiring one, and where to find advice-only financial advisors on Wealthtender.

If you consider yourself a DIY (do it yourself) kind of person, you’re not alone. Millions of Americans successfully start and complete DIY projects every day.

But just because you decide to do a project yourself doesn’t mean you have to learn how to do the task on your own. In fact, most DIY projects start with education in the form of instructional videos, articles, books, or even live demonstrations.

The same holds when it comes to managing your personal finances and investing. If you consider yourself a DIY investor and are comfortable managing your own money, you may not want to hire a traditional financial advisor and turn over financial decision-making to someone else.

Fortunately, a new breed of financial advisors offering advice-only services has emerged as a popular choice among DIY investors interested in professional guidance at a very attractive cost.

Key Takeaways

1

An advice-only financial advisor provides professional guidance and a financial plan — but you, not the advisor, implement the recommendations. This is fundamentally different from traditional advisory relationships where the advisor manages your investments.

Because advice-only advisors don’t manage assets or earn commissions, their compensation isn’t tied to any product outcome — which means their guidance can go anywhere your financial situation requires without the constraints or conflicts that come from managing a portfolio. Most charge an hourly or flat fee, and many are SEC-registered RIAs who hold the CFP designation. The tradeoff: you’re responsible for executing the plan yourself, which requires a level of financial confidence and follow-through that not every investor has.

2

There’s an important distinction between “advice-only advisors” who exclusively operate this way and traditional advisors who offer advice-only as one option among several — and that distinction matters when evaluating conflicts of interest.

A dedicated advice-only advisor has structured their entire practice around not managing assets or earning commissions — eliminating the most common conflicts that arise in financial advisory relationships. An advisor who offers advice-only as one of several service options may still have business incentives that subtly favor other arrangements. Both can provide legitimate advice-only services, but understanding which type you’re working with helps you evaluate the advice you receive more accurately.

3

Advice-only services are best suited to DIY investors, high-asset clients who want to avoid percentage-based AUM fees, and anyone seeking a second opinion on a financial plan they’ve already developed.

For a self-directed investor managing a large portfolio, the savings from avoiding a 1% AUM fee can be substantial — on a $2 million portfolio, that’s $20,000 per year that stays invested instead of going to an advisor. Advice-only services are also well-suited to one-time planning engagements: reviewing a retirement plan, evaluating a job offer’s equity compensation, or stress-testing a financial strategy before a major decision. The key question to ask any advice-only advisor: do they provide tools or technology to help you implement their recommendations independently?

Advisors Who Offer “Advice-Only Services” vs. “Advice-Only Advisors”
Should I Hire a Financial Advisor Who Offers Advice-Only Services?
How to Find Financial Advisors Who Offer Advice-Only Services
What Questions Should You Ask Before Seeking Advice-Only Services?
How Does an Advice-Only Financial Advisor Compare to a Traditional Financial Advisor?
- Expert Insights: Should I Hire an Advice-Only Financial Advisor or a Traditional Advisor?

Advisors Who Offer “Advice-Only Services” vs. “Advice-Only Advisors”

As you evaluate financial advisors who offer “advice-only” services, it’s worth noting a distinction between advisors who may offer multiple compensation models for their services, with “advice-only” among them vs. advisors who hold themselves out as “advice-only advisors” and exclusively act in an advice-only capacity.

When financial advisors provide advice-only financial planning services and investment guidance, it’s their clients, not the advisors, who are responsible for implementing the recommendations independently. Because these advisors do not manage your investments for you, the cost of hiring a financial advisor offering advice-only services is often considerably less than hiring a financial advisor and paying a percentage of assets under management, especially for people with large investment portfolios.

“Advice-only advisors” are Registered Investment Advisors (RIAs) regulated by the Securities and Exchange Commission (SEC) or by state regulators where their services are available. Many advice-only financial advisors will hold their Certified Financial Planner certification and will likely charge an hourly or flat fee for their services.

While you’ll be responsible for implementing recommendations on your own, some advice-only financial advisors offer technology and tools to make it easier for you to follow their guidance. Before hiring an advice-only advisor or an advisor who offers advice-only services, be sure to ask if they offer resources to help streamline your DIY efforts.

Should I Hire a Financial Advisor Who Offers Advice-Only Services?

If you consider yourself a DIY investor, you may still desire the benefit of professional guidance a financial advisor who offers advice-only services can provide to help you make smart decisions with your money. Or, if you’re looking for a second opinion regarding investment decisions or a financial plan you’ve prepared on your own, an advice-only financial advisor can review your work and offer feedback and recommendations to help ensure you’re on track to achieve your financial goals.

How to Find Financial Advisors Who Offer Advice-Only Services

📍 Click on a pin in the map view below to discover financial advisors who offer advice-only services and can work with you to develop a personalized financial plan. Or click the Grid option to view these advisors in a directory.

📍Double-click or pinch pins to view more.

Five Eye-Opening Finance Documentaries That Explain How Money Really Works

0 Ratings

Small Decisions That Slowly Improve Your Finances in Your 20s

0 Ratings

Tactical Investing in a VUCA Equity Market

0 Ratings

Your CPA’s Role in Harmonizing Blended Family Finances

0 Ratings

Why My Roth Money Is 100% Bitcoin & Why You May Want to Follow Suit

0 Ratings

Gray Divorce: 5 Financial and Tax Considerations for Couples Over 50

0 Ratings

Financial Well-Being: The Link Between Money and Mental Health

0 Ratings

The “Innovation at Speed” Mindset in Financial Services

0 Ratings

Advice-Only Financial Advisors: What They Are, How They Differ, and How to Find One

0 Ratings

Advisors in the Spotlight This Month:

David Nash, MBA, CFP® Parkwoods Wealth Partners Helping tech employees and families secure their future.

Los Angeles, CA Nationwide

0 Certified Advisor Reviews™

A minimalist white outline of an elephant stands above the bold text

Nev Kraguljevic, MBA, CCFC, CSLP® Elephant Corner Financial Helping Small Biz Owners, Medical Professionals, and LGBTQ+ Families Thrive

Burlington, VT Nationwide

3 Certified Advisor Reviews™

A blue banner with gold diagonal lines features a gold dollar sign sprouting from leaves next to the text

Bill Hines Emanciparé Financial Planning An inexpensive no strings advice-only fiduciary financial and retirement planner

Bethlehem, PA Nationwide

8 Certified Advisor Reviews™

Luca Rassenti Diverso Advisors Advice-only practitioner with deep investment expertise | Thunderbird MBA

Aspen, CO Nationwide

0 Certified Advisor Reviews™

What Questions Should You Ask Before Seeking Advice-Only Services?

To help you find the right financial advisor who offers advice-only services for your individual needs, it’s best to ask the right questions to determine if you’re a good fit to work together.

We asked financial advisors who offer advice-only services in the Wealthtender community for their thoughts on good questions to ask.

Eric Simonson, CFP®, CRPC®, CLTC® Advice-Only Financial Planning For Everyone

With an advice-only advisor, you fortunately do not need to ask them the usual questions you would a typical advisor such as 1) What hidden fees do you charge? 2) Do you sell products and make commissions? 3) Are you a fiduciary?

You can rest assured that with an advice-only model, you are receiving some of the fairest, most transparent advice available in our industry.  So, the questions you should ask should be tailored more towards your specific situation.

For example, if you have student loans, ask them about their knowledge around student loans and typical strategy for how to tackle that debt. Or, if you own rental properties, how familiar are they with them and what recommendations do they usually provide there? Also make sure it is a good personality fit so ask about hobbies, communication style, etc.

Eric Simonson, CFP®, CRPC®, CLTC® | Abundo Wealth

🔗 Website | Wealthtender Profile

Andrew Dressel, CFP®, CRPC®, APMA® Advice-Only Financial Planning For Everyone

What range of subjects do you work on with your clients? Do those areas of advice align with the needs that you are trying to address? How are your fees determined?

Andrew Dressel, CFP®, CRPC®, APMA® | Abundo Wealth

🔗 Website | Wealthtender Profile

How Does an Advice-Only Financial Advisor Compare to a Traditional Financial Advisor?

Beyond not managing their clients’ investments and earning a fee for this service, how else do advice-only financial advisors differ from traditional advisors? Should you expect the same services other than investment management? We asked advice only financial advisors what they think.

Andrew Dressel, CFP®, CRPC®, APMA® Advice-Only Financial Planning For Everyone

I would say that you should get the same if not more advice from an advice-only financial advisor than you would from a fee-only or commission-based financial advisor. This is because an advice-only financial advisor isn’t tied to a product outcome.

Traditional Financial advisors use financial advice to drive to certain outcomes or products that they receive a benefit or compensation from. The scope of the relationship with and advice-only advisor is based on depth and breadth of the advice that you get.

Andrew Dressel, CFP®, CRPC®, APMA® | Abundo Wealth

🔗 Website | Wealthtender Profile

Eric Simonson, CFP®, CRPC®, CLTC® Advice-Only Financial Planning For Everyone

Every advisor is going to be a little unique in terms of their service offering, but on the whole you can expect advice-only advisors to be much more comprehensive with their advice since their income is in no way tied to the advice they provide. So, they are really free to ‘go anywhere’ with their guidance/advice.

Eric Simonson, CFP®, CRPC®, CLTC® | Abundo Wealth

🔗 Website | Wealthtender Profile

Expert Insights: Should I Hire an Advice-Only Financial Advisor or a Traditional Advisor?

Danielle Miura, CFP®

Spark Financials

“Advice-Only firms ensure transparency of compensation and minimize conflicts of interest. At Spark Financials, we provide financial advice to empower our clients to be self-reliant and visualize their financial future. We are the navigator, and our clients are the driver.

Our firm is set up to not hold or have access to our client’s assets; therefore, our clients are protected from hidden fees. When a financial advisor manages assets, many clients are not able to see the direct impact of fees taken out of their accounts over time.

We also do not refer clients to someone who can manage their assets, preventing any kickback or markup compensation. We minimize conflicts of interest and fees for our clients so they can reach their goals faster and safer. Instead of managing our client’s assets to make them rely on us, we educate our clients so they can eventually be independent. Our goal is to be as transparent as possible; this means no commission and no hidden fees.”

– Danielle Miura, CFP®, Financial Advisor

About the Author

Brian Thorp

Brian is CEO and founder of Wealthtender and Editor-in-Chief. He and his wife live in Austin, Texas. With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress. Learn More about Brian

Financial Professionals

Individuals

The Warning

97% Owned

The Corporation

In Debt We Trust

Broke

About the Author

Check Your Balances Regularly

Monitor Your Net Worth

Keep Personal Finance Top-of-Mind

Use What You Learn

Think Before You Spend

Always Compare

Learn to Value Your Financial Decisions

About the Author

About the Author

Bill Hortz

1. What are the pros and cons of filing separately vs. jointly?

2. What tax deductions, credits, or dependent claims should we consider?

3. How do changes in tax laws, my finances, or my family affect my estate plan?

4. How should we title and report our businesses and investments?

5. Are there any changes to health insurance premiums or deductions that could affect my tax situation?

6. How can I maximize tax deductions for my business or self-employment income?

Partnering with Your CPA

About the Author

Putting My Toes in the (Crypto) Water

Great News, But with a Cloudy Lining

How to (Legally) Avoid Paying Taxes on Billions in Gains

Pulling My Own (Small-Time) Thiel Maneuver (Hopefully!)

But What If Bitcoin Goes to Zero?

An Asymmetric Bet I Was Happy to Make

Should You Do the Same?

The Bottom Line

About the Author

Why Gray Divorce Is on the Rise

Dividing Retirement Assets

Social Security & Medicare Impacts

Tax Filing & Deductions

Long-Term Care & Insurance

Estate Planning Reset

Conclusion: Planning Is Power

The Emotional Toll of Financial Stress

Financial Health Supports Mental Health

Why Women Face Unique Financial Pressures

Practical Steps to Support Both Financial and Emotional Health

It’s Okay to Ask for Help

About the Author

Bill Hortz

Table of contents

Advisors Who Offer “Advice-Only Services” vs. “Advice-Only Advisors”

Should I Hire a Financial Advisor Who Offers Advice-Only Services?

How to Find Financial Advisors Who Offer Advice-Only Services

What Questions Should You Ask Before Seeking Advice-Only Services?

How Does an Advice-Only Financial Advisor Compare to a Traditional Financial Advisor?

Expert Insights: Should I Hire an Advice-Only Financial Advisor or a Traditional Advisor?

Danielle Miura, CFP®

About the Author