February 2014 
Issue: 127
Sound, visionary stewardship

Welcome 


We have the best job! We get to work with such interesting and diverse people. We learn so much from each of them. Thank you!

From time to time we are called on to speak to various groups. Last week I had the opportunity to speak to a local women's investment group and it seemed to go so well that I thought I'd share the highlights of the talk.
  • Fiduciary vs. Suitability standard: 
    • The suitability standard says only that an advisor must do what is suitable for an investor, based on that investor's particular circumstances. Note that the above definition does not demand that your broker do what is best for you - only that it be "suitable."  
    • A fiduciary relationship is generally viewed as the highest standard of customer care available under law.  Fiduciary duty includes both a duty of care and a duty of loyalty. Collectively, and generally speaking, these duties require a fiduciary to act in the best interest of the customer, and to provide full and fair disclosure of material facts and conflicts of interest.
  • An overview of our firm, which is a Registered Investment Advisor and held to the fiduciary standard. We were founded 18 years ago (February 1996--happy anniversary to us) and pride ourselves in being authentic, thoughtful, straight-shooters who provide the sound, visionary  stewardship that helps our clients protect their financial foundation while building their wealth.
  • Women (and men) protecting themselves for when "rain happens" and it does. It is so important to be prepared by having your wills & trust (including health proxies completed and given to your doctor), having the right insurance policies (and in force, which means paid up) and thinking about & acting upon your legacy. One easy to tackle tip is making sure your beneficiary forms are up to date!   
Lots to think about. Lastly, we'd like to share a recent story about our move to Kingston. It's even got pictures of our new office. Enjoy! If you are going to be in the neighborhood, let us know and come by for tea & a tour.

Cheers,   

    

Paula Harris signature   
p.s. Our doggie pal, Tucker, left on Monday to be reunited to his family who moved overseas. We miss him already! Bon voyage Tucker!

We are proud to be a Registered Investment Advisor. Learn more about the benefits of working with an RIA. 

 

   

Have you connect with us yet?   Like us on Facebook     Follow us on Twitter     View our profile on LinkedIn  

 

 

 

 

From Bill's corner... 

 

Know what you are getting into 

 

In the 1990s, Jordan Belfort built the investment firm Stratton Oakmont from scratch. He made millions by the day. At night, he spent it even faster on sex, drugs and other vices. His posse of stockbrokers called him "The King." His inner circle called him "The Wolf."

 

Recently released, "The Wolf of Wall Street" is the second movie (the first was "Boiler Room," circa 2000) based on Stratton Oakmont. The "pink sheets," known for the color of paper they are printed on, compile the prices of over-the-counter (OTC) micro-cap stocks. Unlike companies on the big stock exchanges, like the New York Stock Exchange, companies quoted on the pink sheets face less oversight from the Securities and Exchange Commission (SEC). Ultimately, pink sheet stocks are high-risk investments. For Jordan Belfort and Stratton Oakmont, this perceived lack of regulation birthed an elaborate scheme to bilk millions from investors via a "pump and dump" strategy.

 

Stratton Oakmont's "pump and dump" strategy was a fraudulent practice of encouraging investors to buy shares in a company in order to drive up the price artificially, allowing Jordan Belfort and his inner circle to sell their own shares while the price was high. They made millions.

 

The tale of The Wolf is a fascinating but sad story. "The Wolf" is about a persuasive character's greed, vices and his eventual downfall. Wall Street was a coincidental backdrop.

 

I know the financial services industry can be confusing and complex. If you want to avoid the next Wolf, understand the nuances between titles, operations and compensation, such as terms like "broker" or "investment advisor" have become synonymous. Let me help clarify a few terms.

 

Read on...

Bill Harris signature
In This Issue
When should retirees downsize homes?
The most-overlooked tax deductions
7 financial tasks you should tackle right now
Social Security offers lump sum payouts
10 financial to-dos for 2014
In the media
About us
Time to Share. Create a Buzz.

Magical youthful voices have a way of making your heart sing. That is what might happen to you if you attend the Plymouth Philharmonic's Family Concert on Sunday, March 9 at 3:00 p.m. Memorial Hall is transformed! The full orchestra performs "approachable" symphonic pieces (you'll probably recognize them) while they are joined by the Plymouth Children's Chorus for a few songs. Just before the performance is a "musical petting zoo" where kids can try out the various instruments. The whole performance lasts about 75 minutes and is a wonderful introduction to symphonic music if you've ever wanted to experience the power of live orchestral music. Tickets are $8 and $20 and is sure to sell out so buy now. And, again this year they are Teaming Up Against Hunger!  They will be collecting non-perishable food items at the concert to benefit the Food Warehouse of Greater Plymouth.
When should retirees downsize homes?  

 

For most people, their house is their biggest asset. It's also their biggest expense. But when it comes to retirement planning, a house often falls to the bottom of the list involving changes in later life.


The most-overlooked tax deductions  

    
Cut your tax bill to the bone by claiming all the breaks you deserve-including some you may have forgotten or never even knew about.

Read on...

7 financial tasks you should tackle right now

 

We're all busy ... with work, family obligations, social commitments and more. That's why it can be hard to find time to do everything that needs to get done, especially those things that we assume don't need immediate attention. But there are several tasks you should stop putting on the back burner because they could be affecting your financial well-being.  

 

Read on...

Social Security offers lump sum payouts 

 

If you are past full retirement age, you can undo the decision to delay benefits if you suddenly need cash.

Read on...

10 financial to-dos for 2014              

 

Take action now to improve your finances this year. 

 

Read on... 

In the media... 

 

WH Cornerstone's principal's are tapped by the media to write for and contribute to a variety of publications. Here are our latest contributions.
  • WH Cornerstone Investments Moves to Kingston
    Kingston Reporter, February 7, 2014
    View... 
  • You can't shelf this one...MyRA!
    Boston.com, February 3, 2014
    View... 
  • INVESTORS, PLANS AND MONEY: Know what you are getting into
    Old Colony Memorial, January 24, 2014
    View...   
About us

We are authentic, thoughtful, straight-shooters who provide the sound, visionary  stewardship that helps our clients protect their financial foundation while building their wealth. 

 

We are private and independent, which means we have the unique ability to build deep, meaningful relationships with our clients with no competing agendas.

 

We have several decades of broad financial and business expertise that enables us to knowledgeably advise on a wide range of financial and business affairs and to help our clients navigate the sea of complexity with confidence.

 

We are strong believers in the power of near-term, actionable planning and disciplined focus on forward-facing goals.

 

We are at our best when we help our clients optimize their financial resources to realize their goals and dreams.   


Cheers,

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Paula Harris and Bill Harris, CFP
WH Cornerstone Investments
781.934.9154
www.whcornerstone.com
 

begin it.TM