Core Viewpoint - Storen Financial has launched a new registered investment advisor (RIA) named Storen Legacy Partners, set to begin operations on January 1, 2026, with support from Dynasty Financial Partners [1][2]. Group 1: Company Background - Storen Financial, based in Zionsville, Indiana, manages $500 million in assets and was founded in 1966 as a tax preparation firm by Pat Storen [1][5]. - The firm currently prepares over 5,000 tax returns and serves clients across 43 states [5]. - The leadership team includes Greg and Kim Storen, who took over the business in 2009 after Pat Storen's retirement [5]. Group 2: New RIA Details - The new RIA, Storen Legacy Partners, will utilize Dynasty for operational and back-office support, as well as investment management capabilities [4]. - Charles Schwab has been selected for custody services, allowing access to a suite of institutional-quality services [4]. - Greg Storen expressed excitement about implementing new technologies and investment models to enhance client communication [3]. Group 3: Previous Affiliations - Prior to launching the new RIA, Storen Financial was affiliated with LPL Financial and Brass Tax Wealth Management, which was recently acquired by Waverly Advisors [2]. - It remains unclear if Storen Legacy Partners will maintain any ties to LPL Financial [3]. Group 4: Team Composition - The Storen team comprises 38 staff members, including five financial advisors and eight tax accountants [5].

Core Insights - As retirement approaches, reallocating a 401(k) is essential for balancing growth, income, and risk to ensure savings last through retirement [1][2] - Investors in their 50s are shifting from aggressive saving to strategies that protect their savings while supporting a sustainable withdrawal rate [1][2] Risk Assessment and Financial Needs - At age 55, risk tolerance typically declines, but the need for growth remains to outpace projected inflation of 2.6% annually by 2026 [4] - Evaluating comfort with market volatility is crucial, as well as considering the size of the 401(k), other assets, and expenses [5] - A conservative approach is viable if a 4% withdrawal rate covers living costs, such as $40,000 annually from a $1 million portfolio [5] Investment Strategy - A common guideline for asset allocation for a 55-year-old is 55% in stocks and 45% in bonds, with stocks historically averaging 7% real returns since 1928 and bonds yielding about 4% [3][7] - Target-date funds can automatically adjust allocations to become more conservative as retirement nears [3] - Reallocating a 401(k) should be gradual to avoid locking in losses or missing growth opportunities [7]

Group 1 - Schroders is considering various options for its financial planning business, Benchmark Capital, which may include a potential sale [1] - The exploration of options is based on insights from two individuals familiar with the situation [1]

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. Conquest Planning, the artificial intelligence-powered, Canada-based, financial planning platform founded by Mark Evans (creator of Naviplan) has announced Chief Revenue Officer Brad Joudrie as CEO effective Jan. 1, 2026. Founded in 2018 and launched into the Canadian market in 2020, Conquest first rolled out to American advisors in mid-2022. In June, the company announced it raised an $80 mill ...

Core Insights - A 2025 Northwestern Mutual survey indicates that Americans believe $1.26 million is necessary for a comfortable retirement [1] - A 2022 Federal Reserve survey shows that Americans aged 65 to 74 have a median retirement savings of $200,000, highlighting a significant gap [2] Financial Planning - The decision to hire a financial planner has both advantages and disadvantages, particularly for those nearing retirement [3] - Approximately 27% of Americans utilize a financial advisor or planner, suggesting a recognition of the value of professional financial guidance [4] - Financial professionals can provide objective advice, which is crucial in managing assets, especially during unforeseen life changes [5] - A financial advisor can help prepare for and manage potential long-term care costs, which can average $77,792 per year for home health aides and $127,750 annually for nursing home care [5] - Even individuals with substantial assets, such as a $2 million portfolio, may have blind spots that a financial professional can help address to ensure income generation and resilience against market fluctuations [6]

Core Viewpoint - The article discusses the potential benefits of an all-equity investment portfolio compared to traditional balanced portfolios, suggesting that a 100% equity strategy may lead to better long-term retirement outcomes [2][4][6]. Group 1: Portfolio Strategies - Traditional 60/40 portfolios are being challenged by a proposed 50/30/20 split, with some advocating for a 100% equity portfolio as a more aggressive investment strategy [1][2]. - Research indicates that portfolios with a mix of domestic and foreign stocks may provide better diversification than those including bonds, regardless of the investor's age [2][4]. Group 2: Performance Analysis - An analysis of stock and bond returns from 39 countries from 1890 to 2023 shows that an all-equity portfolio outperformed balanced portfolios in terms of retirement wealth, income, capital preservation, and bequest at death [4]. - The all-equity strategy reportedly delivers 50% more retirement wealth on average compared to balanced portfolios [6]. Group 3: Risk Considerations - While bonds are often viewed as safe diversifiers, their long-term performance is considered unfavorable, as they become riskier and more correlated with stocks over time [3][4]. - The key risk for all-equity investors is volatility, with historical data indicating that markets can take significant time to recover from downturns [5].

Core Insights - The best time to start saving for retirement is as soon as one enters the workforce, allowing for more years of contributions and the benefits of compounding growth [1] - It is rarely too late to improve retirement savings, but there is a critical window where building a sufficient nest egg becomes significantly more challenging [3] - The urgency to save increases in the mid-to-late 50s due to the proximity of retirement and the reduced time for compounding to take effect [4] Retirement Savings Strategies - Aggressive saving can still be beneficial even in the early 60s, but may require additional strategies such as reducing expenses, delaying retirement, or downsizing [5] - Overdependence on Social Security can lead to financial problems, as it typically only covers 30% to 40% of a retiree's budget [5] - Delaying retirement savings can result in reduced lifestyle options, increased stress, and a smaller financial safety net, exposing individuals to greater financial risks [5]

Core Insights - The article discusses the benefits of having excess savings for retirement and the potential to leave money to heirs, highlighting the characteristics of individuals who save significantly throughout their lives [1]. Group 1: Who Saves the Most? - A study by the National Bureau of Economic Research indicates that married men tend to work and save substantially throughout their lives, while married women's labor market participation peaks in middle age [2]. - Single men experience a decline in labor market participation and savings after age 40 compared to their married counterparts, while single women work less and accumulate less wealth [2][3]. - Couples possess more than twice the wealth of singles at all ages, and wealth decreases only modestly after retirement [3]. Group 2: Wealth Management After Retirement - The study reveals that retirees spend only a modest amount of their wealth, which contrasts with traditional life-cycle models, primarily due to a desire to save for medical expenses and to bequeath wealth [4]. - Wealthy individuals tend to live longer, which allows them to retain greater wealth as they age [5]. Group 3: Strategies for Saving More - To save more for retirement, individuals are encouraged to start saving early, as small amounts can grow significantly due to compounding interest [6][7]. - Being aggressive in investments, particularly in riskier assets like stocks, is recommended for those with 10 or more years until retirement, transitioning to more conservative investments as retirement approaches [7]. - Automating retirement savings and maximizing contributions to tax-advantaged accounts such as 401(k)s, Roth IRAs, and HSAs are advised strategies [7]. - Seeking guidance from a fiduciary financial planner is suggested for those uncertain about investment choices [7].

Core Insights - Annuities are presented as versatile financial products for retirement planning, offering guaranteed income, tax-deferred growth, and market downturn protection, but they come with various fees that can impact returns [1][2] Summary by Categories Annuity Features - Annuities provide guaranteed income throughout retirement, tax-deferred growth, and protection from market downturns, making them appealing for retirement planning [1] - The complexity of annuities includes various types such as immediate, deferred, fixed, and variable, each with different fee structures [4] Fees and Costs - Some fees associated with annuities are legitimate costs for services, while others may primarily benefit the insurance company at the expense of the investor's returns [2] - Common fees include surrender charges, which act as penalties for early withdrawal, and mortality and expense (M&E) charges found in variable annuities to cover lifetime income risks [5][6] - Administrative fees related to contract management, such as customer service and recordkeeping, are also expected [7] - Investment-related fees are typically found in variable annuities, where growth is linked to market performance [7]

Core Insights - Long-term care costs, particularly for nursing homes, can significantly deplete retirement savings, with the national average cost for a semi-private room exceeding $94,000 per year [3] - Medicare offers limited coverage for nursing home stays, primarily for short-term rehabilitation, while Medicaid serves as a primary payer for long-term care, subject to strict financial eligibility criteria [4][3] - Medicaid eligibility is determined by income and asset limits, with individuals typically allowed no more than $2,000 in countable assets, and married couples having different asset retention rules [4][6] Medicaid Eligibility and Planning - Medicaid is a means-tested program, requiring individuals to meet specific income and asset thresholds to qualify for nursing home coverage [4][6] - Asset transfers to trusts or other entities can be strategies to qualify for Medicaid, but a five-year lookback period applies, scrutinizing any transfers made within that timeframe [7][8] - Proper planning, including the use of special trusts, home equity transfers, and annuities, can help protect assets from Medicaid spend-down requirements [8][9] Financial Advisory Role - Engaging a financial advisor is recommended for individuals planning for long-term care expenses, as they can provide guidance on eligibility strategies and asset protection [2][4][9]