Financial Education & Advocacy
Purposeful Finance attempts to improve financial literacy and advocate for more consumer-focused financial services through articles distributed through Apple News, our website, and other outlets. In addition to financial education and guidance, we actively support a fiduciary legal standard of care for consumers and minimizing questionable practices such as presenting commissioned sales of financial products as ‘advice'.
Articles are written to provide education on personal finance topics and help consumers advocate for themselves with the financial services industry. For example: after the massive Equifax data breach, Purposeful Finance published step by step directions on how to opt out of the Equifax arbitration clause.
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The recent approval of the SEC’s Regulation Best Interest (Reg BI) has killed any hope that financial advisers at Broker/Dealers would finally be required to be fiduciaries for their clients. The SEC went out of its way to create a regulation that would confuse consumers into thinking they have legal protections, when they don’t.
The SEC is proposing updated rules regulating how financial services companies offer investment advice. Unlike the Department of Labor’s Fiduciary Rule, the SEC advice seems to protect the broker/dealer industry more than the individual investor.
Consumers who have had contact with Coceptive Credit Union should beware, all evidence suggests the organization is not an actual credit union and is breaking numerous laws by operating as a credit union in California.
The Stock Brokerage and Insurance Industries are fighting hard against the Department of Labor's Fiduciary Rule, which would require their advisers to put their client's interests first and disclose conflicts of interest. The industries got the 5th Circuit Court to agree that, unlike Registered Investment Advisers, stock brokers and insurnce agent are just salespeople
Investors may mistakenly think Morgan Stanley and UBS leaving the Broker Protocol agreement only impacts stock brokers and their employers. The SEC, however, identified the Broker Protocol as an important agreement for both customer choice and privacy.
Consumers shouldn't worry about the most recent SEC security breach, as the information hackers got did not include private personal data. The hack does, however, point out a risk to investors and a special risk future government agency breaches could pose to consumers.
Equifax's offer to provide one-year of free credit monitoring service comes with an arbitration clause which waives your legal right to sue Equifax. Here is how to opt-out of the arbitration clause and preserve your rights to sue Equifax or join a class-action lawsuit.
The DOL Fiduciary rule is now in force, but there is a loophole for commissioned advisers which can allow them to maintain their current compensation model. Make sure you understand the Best Interest Contract Exemption and the implications it has on potential conflicts of interest which could influence the investment advice you recieve.
Between the wide range of meaningless job titles and the alphabet soup of certifications and designations, it's easy for an advisor to hide how they truly do business. One thing an adviser can't hide, however, is how they're licensed. Knowing the license will tell you what they can advise on, how they are compensated, and whether they are fiduciaries.
Recently Published Articles
The IRS has announced the 2025 income tax tables and other adjustments for inflation. Plan ahead to lower your 2025 income taxes and lower lifetime taxes through multi-decade tax planning impacting Roth conversion strategies, the sale of major assets, passing down family businesses, or dealing with Required Minimum Distributions.
The IRS has announced the 2026 income tax tables and other adjustments for inflation. Plan ahead to lower your 2026 income taxes and lower lifetime taxes through multi-decade tax planning impacting Roth conversion strategies, the sale of major assets, passing down family businesses, or dealing with Required Minimum Distributions.
The IRS has announced the 2022 income tax tables and other adjustments for inflation. Plan ahead to lower your 2022 income taxes and lower lifetime taxes through multi-decade tax planning impacting Roth conversion strategies, the sale of major assets, passing down family businesses, or dealing with Required Minimum Distributions.
Inflation is an insidious beast, and it’s surprisingly more dangerous than a market crash.
How would a slight increase in expected inflation impact your retirement plans? For the vast majority of my clients, inflation is the single biggest concern when stress testing the analysis and statistical models of their retirement plan.
Are we in store for another painful period like we saw in the 70s (when mortgage rates were in the double digits)? The short answer: highly unlikely. Because other economic factors characterizing the late 70s aren’t present and even the type of inflation is fundamentally different.
The IRS has announced the 2022 income tax tables and other adjustments for inflation. Plan ahead to lower your 2022 income taxes and lower lifetime taxes through multi-decade tax planning impacting Roth conversion strategies, the sale of major assets, passing down family businesses, or dealing with Required Minimum Distributions.
The IRS has announced the 2021 income tax tables and other adjustments for inflation. Plan ahead to lower your 2021 income taxes and lower lifetime taxes through multi-decade tax planning impacting Roth conversion strategies, the sale of major assets, passing down family businesses, or dealing with Required Minimum Distributions.
It’s not the responsibility of others to tell me how I can help society become a better society. It’s my responsibility to identify the actions I can take, no matter how small, to move society in the direction of justice.
The IRS has announced the 2020 income tax tables and other adjustments for inflation. Plan ahead to lower your 2020 income taxes and lower lifetime taxes through multi-decade tax planning impacting Roth conversion strategies, the sale of major assets, passing down family businesses, or dealing with Required Minimum Distributions.
It’s not the responsibility of others to tell me how I can help society become a better society. It’s my responsibility to identify the actions I can take, no matter how small, to move society in the direction of justice.