Social Security benefits play a crucial role in retirement planning, and deciding when to claim them can have a significant impact on your financial future. Making an informed decision requires careful consideration of several factors. So, how do you know the optimal time to claim Social Security benefits?

Navigating the market can be challenging even in favorable conditions, but the task becomes even more daunting during periods of volatility. It's especially beneficial to rely on effective portfolio risk management strategies during those times. 

Building wealth is a significant achievement but preserving it for future generations is another accomplishment entirely. A legacy of financial stability requires careful planning and strategic decision-making because wealth preservation goes beyond accumulating assets; it involves a comprehensive approach to protecting and growing wealth while minimizing risks and mitigating potential challenges. 

Originally published in 2023. Updated October 2025 to reflect current custodial data and market context.

In times of market volatility and financial headlines about bank stability, investors are once again asking an important question: Is my money safe?

We’ve been writing about this topic for several years, and it continues to be relevant today. As fiduciary advisors, we want to revisit how your assets are protected—and why we partner with third-party custodians like Schwab and Fidelity.

As a fiduciary advisor, we have maintained an arms-length approach to the selection of a client’s custodian, preferring to remain impartial and allowing the client to decide. Since there is a wide variety of options: banks, brokerage firms, discount brokerage firms, etc., there is also great variance in the quality and cost of services.

We have historically suggested using Charles Schwab or Fidelity due to their size, low cost, service teams and independence. While clients still choose to use US Bank, Raymond James, PNC and others, with the preponderance of the assets we manage at Schwab and Fidelity, we will focus on these two custodians for this discussion. Schwab completed its acquisition and full integration of TD Ameritrade in 2023, consolidating custodial services under the Schwab platform.

While many outlets have reported on the failures of Silicon Valley Bank and more news will continue to trickle in, it is our understanding that these episodes do not reflect the systemic risks experienced during the financial crisis of ’08-’09. The Treasury and the Federal Reserve are providing full backing for customers’ deposits in banks of all sizes. Affected customers are being made whole from a pool of emergency cash that receives its funding from a 2010-era banking legislation (Dodd-Frank) that mandated special fees on banks.

No one likes to think about falling victim to a scam or suffering a medical emergency, but the sobering truth is that these situations do occur. If this type of trouble arises, you may need someone to advocate for you or serve as your liaison. Having a trusted contact is extremely important when it pertains to the management and protection of your finances. 

Here’s how to begin the process of adding a trusted contact to your financial advisor account to prevent any disconnect.

Storing important documents, like financial statements from your financial advisor, isn’t just a matter of organization: It’s key to keeping your information safe and limiting the risk of identity theft. Here’s everything you need to know about storing important documents at home or online.

Mobile payment apps, such as Venmo and PayPal have gained in popularity, but is the cost of convenience the security of your money? As financial planners, we want you to understand the risks and benefits. If you’re wondering, are payment apps safe? Here are useful facts you need to know.

When it comes to years when both stocks and bonds see poor performance, investors may begin to wonder if it’s better to have their money in liquid assets such as cash, as opposed to investments such as bonds and stocks. In other words, is cash king? Let’s see.

When you’re looking at your overall financial picture, the role of trustee is an important position that comes with a lot of responsibility, but what exactly does the position entail?