NNP IN THE NEWS: The State of Wealth Management After Tax Reform

In the January 5 issue of the Upstate Business Journal, Nachman Norwood & Parrott’s Vice President Wes Boyce discusses the recently signed tax bill in a bylined column. The bill, commonly referred to as the Tax Cuts and Jobs Act, is the most substantial change of the federal tax code in more than three decades. This change affects corporate America to high-net-worth individuals to the middle class and beyond, and Wes explores just a few of the bill’s implications.

One of the most notable changes that might affect high-net-worth individuals is that while the number of individual tax brackets remain at seven, the number of estate and trust brackets decreased from five to four, each with slightly lower rates.

Wes notes that the bottom line is to work quickly to understand what impact this bill will have on your taxes. A financial advisor can (and should) help support your tax advisor about steps you might want to consider moving forward.

Read the full article on the Upstate Business Journal’s website. If you’d like to schedule an appointment with a financial advisor, call us at (864) 467-9800.

NNP IN THE NEWS: JENNINGS CRAFT JOINS NACHMAN NORWOOD & PARROTT

Jennings Craft has joined Nachman Norwood & Parrott Wealth Management Consultancy as a Client Service Associate. A Cum Laude Graduate from University of South Carolina’s Moore School of Business, Jennings received a Bachelor of Science Business Administration degree in Accounting with a Finance cognate in May 2017.

The news of Jennings joining the NNP team was featured on UpstateBizSC.com.

Nachman Norwood & Parrott Wealth Management Consultancy is a separate entity from WFAFN.

NNP IN THE NEWS: Fees vs Commissions

Is your financial advisor’s compensation aligned with your best interests?

Fees or commissions? There is a vast difference of opinion among financial advisors regarding which is best. In the April 21 issue of the Upstate Business Journal, Nachman Norwood & Parrott’s Vice President, Maura Copsey, weighed in on understanding the difference and what you should take into consideration that aligns best with your financial goals.

There can be an appropriate time and a place for both fees or commissions; however, not fully understanding them could significantly impact your long-term outcome. Take time to learn more about understanding the costs to ensure your goals are aligned and headed in the right direction.

Read the full article on the Upstate Business Journal’s website. If you’d like to schedule an appointment with a financial advisor at Nachman Noorwood & Parrott to discuss what is best for your needs, call us at (864) 467-9800.

NNP IN THE NEWS: Bob Nachman Named Top 1200 Financial Advisor by Barron’s

Nachman Norwood & Parrott’s Bob Nachman Named Top 1200 Financial Advisor by Barron’s

Congratulations to Bob Nachman, Managing Director at Nachman Norwood & Parrott, for being ranked among Barron’s Top 1200 Financial Advisors in the country for 2017. Winner’s Circle, a Barron’s research organization, produced the rankings based on data provided by more than 4,000 of the nation’s most productive advisors. Among the factors taken into consideration for the rankings are assets under management, business production, regulatory record, quality of practice and philanthropic work. The news of Bob Nachman’s recognition was featured in GSA Business Report and Greenville CEO.

The rankings are based on data provided by thousands of advisors. Factors included in the rankings were assets under management, revenue produced for the firm, regulatory record and client retention.

NNP IN THE NEWS: The Need for Personal Insurance

wealth managementIn the January 12 issue of the Upstate Business Journal, Nachman Norwood & Parrott’s Vice President Wes Boyce discusses a trend amongst high-net-worth individuals to underestimate their need for personal insurance. This is the third and final article in a three-part series that explains the importance of having an experienced and diverse group of professionals involved in your wealth planning.

Boyce describes the recent trend, also observed by Greenville insurance broker Howard Einstein, that high-net-worth individuals are neglecting to revise or adjust their insurance plan, even as their wealth grows. A lack of planning in this area is not typically an issue in the present, according to Boyce, but can lead to frustration and confusion later in life, not to mention potential financial loss.

Read the full article on the Upstate Business Journal’s website. If you’d like to schedule an appointment with a financial advisor, call us at (864) 467-9800.

NNP IN THE NEWS: A Matter of Perspective

Wealth Management In the January 5 issue of the Upstate Business Journal, Russ Miller, Vice President at Nachman Norwood & Parrott, shares why having tax and legal advisors is an essential part of the team you trust to help navigate your financial plan. This is the second column in a three-part series that explains the importance of having an experienced group of professionals involved in your financial plan.

Miller notes it is important to look to tax and legal experts, especially when making large decisions in life, such as buying or selling a business, as they would be most up-to-date on rules and regulations. Not consulting someone who fully understands these ever-changing rules and regulations might have a significant impact on your personal wealth, says Miller, particularly if your personal and business finances are intertwined.

Read the full article on the Upstate Business Journal’s website. If you’d like to schedule an appointment with a financial advisor, call us at (864) 467-9800.

NNP IN THE NEWS: The Donald

The economy and wealth managementIn the December 28 issue of The Greenville News, Nachman Norwood & Parrott’s Managing Director, Bob Nachman, examines the effect our new president, Donald Trump, might have on our economy.

Bob notes that while it might be too early to know exactly what policies will be put into place by this administration, we can draw conclusions from comments that were made by the Trump team during the election. Nachman warns that even though the market is going up, you should be careful about buying expensive assets. “People have a tendency to throw caution to the wind when markets climb, but it’s actually a time to keep perspective,” says Nachman.

Read the full article on the electronic version of the December 28 issue of The Greenville News on The Greenville News’s website.

NNP IN THE NEWS: Managing Wealth Takes More Than A Financial Advisor

Wealth Management In the December 20 issue of the Upstate Business Journal, Nachman Norwood & Parrott shares the first column of a three-part series on the importance of having an experienced group of professionals involved in your financial plan. In this first article, Managing Director Bob Nachman, focuses on why creating a financial plan with a knowledgeable financial advisor is key to successful wealth management.

Nachman outlines four ideas to consider: spend less than you earn, plan for your dreams, leverage legal resources and work the plan. “We see too many high-net-worth individuals who do not live within their means and income, but instead depend on their portfolios and returns to support their lifestyle,” Nachman observes. “Being responsible with your money is necessary to guarantee long-term financial health, no matter your level of wealth.”

Read the full article on the Upstate Business Journal’s website. If you’d like to schedule an appointment with a financial advisor, call us at (864) 467-9800.

NNP IN THE NEWS: Anarchy in the UK

Anarchy in the UK?

Published June 29, 2016

Brexit_JPGIn the June 29 issue of the Upstate Business Journal, Nachman Norwood & Parrott’s Managing Director, Bob Nachman, was quoted in an article about Brexit’s effect on the global markets along with professionals from GE, BMW and others. Nachman agreed that the Brexit vote is generating widespread uncertainty, with the Dow falling 610 points following the vote, and with losses continuing.

“If you have a properly diversified portfolio, there’s no reason to panic, said Nachman. “There could be investment opportunities that present themselves because of this. That’s not just stocks. That could be bonds or other type investments.”

Read the full article on the Upstate Business Journal’s website, or call us at (864) 467-9800 if you have questions.

NNP IN THE NEWS: Perspective Paper

Perspective Paper_8.11Nachman Norwood & Parrott (NNP) released a perspective paper earlier this June to offer insights from experts in key areas of wealth management. These focus areas are meant to help inform high net worth individuals in tax, legal, real estate and insurance planning — which are all essential factors that play a vital role in wealth management.

News of the publication of “Perspectives” was featured in Upstate Biz SC and the Greenville Business Magazine. To learn more about “Perspectives” click here.