Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty opened with gains on Monday morning but soon slipped into the red as index heavyweight Reliance Industries Ltd fell over 4%. No, I am not referring to the presidential election. I am concerned about your financial future! You have opportunities, during times of disruption in life, to make decisions that will INDIANAPOLIS, Oct. 30, 2020 /PRNewswire/ — Sheaff Brock announced the firm has been included in the 2020 CNBC Financial Advisor 100, a list ranking the top-rated financial advisory firms of
Updated: November 2, 2020 10:30:47 am
Banking stocks are also likely to be in focus today as the Supreme Court gets ready to hear the loan moratorium case.
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Sensex and Nifty began this week’s trading with gains but soon were moving between gains and losses. S&P BSE Sensex was up over 100 points on the opening bell while Nifty was above 11,650 mark. ICICI Bank, IndusInd Bank, and Axis Bank were the top gainers while index heavyweight Reliance Industries Ltd was down over deep in red followed by HCL Technologies, TCS, L&T. RIL’s fall was pulling equity markets lower. Asian stock markets were trading with gains on Monday morning. Topix was up 2.3% while KOSDAQ gained 1.13%.
Equitas Small Finance Bank will debut on the bourses today. The IPO which garnered a 1.95 times subscription for its 11.58 crore equity shares at the issue price of Rs 33 apiece is among a number of public issues that primary markets have seen in recent months. With the listing, Equitas Small Finance Bank’s promoters will march towards falling in line with Reserve Bank of India’s guidelines that seeks them to trim their holding to 40% in five years of commencement of business. According to CRISIL, Equitas Small Finance Bank is the largest small finance bank in India in terms of number of banking outlets and has recorded the fourth lowest yields indicating diversification away from microfinance in financial year 2019.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Author: FE Online
WILLIAMS: Elections have consequences
No, I am not referring to the presidential election. I am concerned about your financial future! You have opportunities, during times of disruption in life, to make decisions that will forever impact your family’s security. I am referring to retirement plan, life insurance and Individual Retirement Account elections.
For example, many of our clients are participants in the Oklahoma Teachers Retirement System (OTRS). When counseling these outstanding educators and administrators about their future, we provide guidance on the appropriate decisions that must be addressed. One of those decisions is to receive a larger current monthly benefit payment or to consider your spouse’s needs should you predecease him or her. It is difficult to make decisions when all of the facts are not known. Our role is to model different scenarios that will help them consider the probabilities of certain acts occurring in the lives of the couple.
Once an election has been filed with the OTRS, you are barred from changing the election for spousal survivor benefits. What a tragedy if your family were subjected to a considerable decrease in financial security at a time when you need it most. This is an important decision that should not be made without consultation of an experienced retirement planning specialist.
Another election is the use of your lifetime assets for immediate cash flow needs. This year has been different for all of us. Congress and the president have given individuals, under the age of 59½, the option of taking funds from their IRA without incurring a premature distribution penalty of 10% of the amount received. Although this relief granted IRA owners is generous, your lifetime retirement assets should be the last resort for purposes of funding an immediate need. For example, you may incur federal and state income taxes on the distribution amount which may be taxed, at a minimum, for a total of 20%. There are many other options where interest rates are lower than this percentage.
One of the most damaging elections one can commit is failing to review beneficiary designations. Let me explain with a story. One of our clients had divorced his long-term spouse and remarried. When experiencing a life change such as marriage, divorce, birth of a child, change of a career, etc., it is important to be aware of the collateral impact of other factors in life. In this instance, our client was asked, on several occasions, to provide us copies of all of his beneficiary designations for his retirement plan, life insurance, bank accounts and other joint tenancy property so that we may confirm their current status.
Citing his understanding of estate law and, now much bravado over his finances, he failed to bring us the beneficiary statements for review. Unfortunately, he suffered a terminal heart attack after a year of marriage to his second wife. While administering his estate, his son, the successor trustee of the decedent’s trust, discovered a shocking document! His father had not changed the beneficiary designation on a substantial life insurance policy. The sadness and desperation in the voice of this man was evident. I recommended he consult with the trust’s attorney but informed him, under federal and Oklahoma law, the beneficiary designation will stand counter to any verbal wishes or intentions of his father.
There is a happy ending to the story. Well, happy for the decedent’s first wife. The assets he attempted to shield from her during the divorce awarded her upon his death. Our newest client was a lady that we had known for many years that just inherited $2,000,000 tax free! Just like a fable in a children’s novel, there are always happy endings. The question is, will you be the one that is happy? See a CERTIFIED FINANCIAL PLANNER™ professional to help you create a happy ending to your future security story.
Registered Principal Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Jimmy J. Williams is an Investment Advisor Representative of Compass Capital Management, LLC, a Registered Investment Advisor. Cambridge and Compass Capital Management, LLC are not affiliated. 321 S 3rd, Ste. 4, McAlester, OK 74501. Cambridge does not offer legal and tax advice. Please consult your legal and tax advisor for specific estate and income tax planning strategies.
Author: Jimmy J. Williams, CPA/PFS, CFP®
Sheaff Brock Recognized as a Top 100 Financial Advisor by CNBC
INDIANAPOLIS, Oct. 30, 2020 /PRNewswire/ — Sheaff Brock announced the firm has been included in the 2020 CNBC Financial Advisor 100, a list ranking the top-rated financial advisory firms of 2020.
Acknowledging the significant role advisors can play with clients navigating their financial lives, the CNBC FA 100 list recognizes these top-ranked advisory firms for their comprehensive planning and financial services that help clients grow and protect their wealth.
Sheaff Brock is an independent, fee-only, registered investment advisory firm focused on innovative investment strategies that strive to enhance the portfolios of growth- and income-oriented investors. The firm’s approach to money management challenges many traditional assumptions about investing and strives to grow a portfolio’s value through ownership of equities. Discipline and data are the basis for design of the firm’s proprietary strategies, the goal of preserving capital and generating income, while also considering volatility and risk.
“We’re pleased to be recognized in this prestigious list which recognizes our experience and performance in working with investors through the years, as well as our focus on providing innovative portfolios,” Sheaff Brock Managing Director Dave Gilreath says.
About Sheaff Brock:
Sheaff Brock is an SEC-registered, fee-only independent investment firm striving to enhance portfolios of growth- and income-oriented investors, managing $1,004.3 million in assets nationwide as of 9/30/2020. Sheaff Brock principal David Gilreath contributes investment commentary to CNBC.com, Seeking Alpha, and Financial Advisor magazine. Visit Sheaff Brock YouTube for information.
Sheaff Brock Investment Advisors, LLC (“SBIA”) is an SEC-registered investment advisor founded in 2001. Clients or prospective clients are directed to SBIA’s Form ADV Part 2A prior to deciding to participate in any portfolio or making any investment decision. The views and opinions in the preceding commentary are subject to change without notice and are as of the date of the report. There is no guarantee that any market forecast set forth in the commentary will be realized. This material represents an assessment of the market environment at a specific point in time, should not be relied upon as investment advice, and is not intended to predict or depict performance of any investment.
About 2020 CNBC FA 100
The 2020 CNBC FA 100 list is an independent ranking. CNBC enlisted data provider AccuPoint Solutions to assist with the ranking of registered investment advisors for the 2020 CNBC FA 100 list. The analysis started with 37,369 registered investment advisors. AccuPoint screened the list down to approximately 750 registered investment advisors that were required to complete a survey to be in consideration for the 2020 CNBC FA 100 list. Neither the registered investment advisor nor their employees pay a fee for the listing.
Data points used by AccuPoint for the ranking included disclosures, number of years in the business, number of employees, number of investment advisors registered with the firm, ratio of investment advisors to total number of employees, total assets under management, percentage of discretionary assets under management, total accounts under management, number of states where the RIA is registered and country of domicile.
Third-party rankings and recognition from rating services or publications, such as the 2020 CNBC FA 100, is no guarantee of future investment success and working with a highly rated advisor does not ensure that a client or prospective client will experience a higher level of performance or results. The ranking may not reflect a client or prospective client’s experience with the registered investment advisor. Past performance does not guarantee or indicate future results.
Author: Sheaff Brock Investment Advisors;CNBC;