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December 2016


We hope everyone had a great Thanksgiving! Now it's time to plan for Christmas and the New Year, which are quickly approaching. It's also a good idea at year's end to review your overall plans and goals for next year and start thinking about any changes you might want to make. I know it's the holidays and everybody is busy, but a little planning sure goes a long way, whether it's personal or financial.

Last month, I briefly discussed some very important changes coming to the financial industry because of a new law that was passed by the Department of Labor, which is scheduled to go into effect April of 2017. The law will require that anyone discussing or making recommendations on "Qualified Assets" such as pension plans, IRAs, 401(k)s, etc. needs to be a fiduciary in order to legally do so. That means your insurance-only licensed advisor or possibly your stock broker will not be compliant in the eyes of regulatory bodies if they're talking with you about certain "retirement accounts". That's really a big deal and will change the way financial professionals must do business going forward. So please pay attention to this as you hear more about it. There is talk that president-elect Donald Trump may repeal or alter the law, but we'll have to wait and see how that turns out. In any event, our clients don't have to worry about this since JDS Wealth Management is already a fiduciary, but we still want to keep you informed and up to date as much as possible.

Enjoy this month's articles, and we'll be back at you next month.

And, as always, remember - The purpose of the money dictates where you put it. 

Until Next Month,

Jim's signature
James D. Stillman
 
JDS Wealth Management logo
Financial Industry Changes Are Coming
Lake Norman Magazine, December 2016
   
 
Can you believe another year has come and gone? Here comes 2017, and there are some very important things happening in the financial services industry that consumers need to be aware of moving forward. Earlier this year, the Department of Labor (DOL) passed a new law requiring any financial professional giving advice on retirement assets such as pension plans, 401(k)s, 403(b)s, IRAs, etc. (commonly known as qualified plans) to be a FIDUCIARY in order to legally do so. The law is scheduled to go into effect starting April 2017 and will be phased into full effect by 2018.

A fiduciary is a person who holds a  legal   or ethical relationship of  trust   with one or more other  parties . Typically, a fiduciary prudently takes care of money or other  asset   for another person. A fiduciary is required to put the best interests of their clients above all else. A fiduciary duty is the highest  standard of care   at either equity or law.

Now, let's briefly discuss what types of advisors this upcoming change of law will affect, and what you need to know:

Global Private Financial Capital logo

It's Finally Over
GFPC Thought for the Week (411)
Synopsis

* After two years of nonstop media coverage and candidates shamelessly bashing each other, the campaigning has come to an end. 

* Politics can impact the short-term movements in markets but almost never have any impact on the long-term direction of an economy and asset prices. 

* Policy is what matters to the fundamentals, but due to the protracted nature of implementing policy, any impact from new leadership takes several years to register.
 
Global Private Financial Capital logo

Five Questions Answered
GFPC Thought for the Week (412)
Synopsis

* Investors are anxious to understand the reaction in global financial markets to the outcome of the presidential election. 

* More specifically, they want to know why conservative and income-focused portfolios have failed to keep up with the broader equity market. 

* Much of the volatility has been fueled on emotional moves by traders who are trying to guess what a Trump presidency means for the future.

All content is intended for informational purposes only. Any guarantees are for insured products only and are dependent on the claims paying abilities of the insurer. All investments carry some risk and you should be advised by your personal financial advidor before implementing any strategies discussed, as they are not suitable for everyone. James D. Stillman is an Investment Advisor Representative of JDS Wealth Management Corporation and Global Financial Private Capital.

JDS Wealth Management Corporation's outgoing and incoming e-mails are electronically archived and subject to review and/or disclosure to someone other than the recipient. We cannot accept requests for securities transactions or other similar instructions through e-mail. We cannot ensure the security of information e-mailed over the Internet, so you should be careful when transmitting confidential information such as account numbers and security holdings. If the reader of this message is not the intended recipient, or an employee or agent responsible for delivering this message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by replying to this message and deleting it from your computer."
This Month
Financial Industry Changes Are Coming
It's Finally Over
Five Questions Answered

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