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Exam Code: CIA-I Practice test 2022 by Killexams.com team
CIA-I Certified Internal Auditor (CIA)

Part 1 – Essentials of Internal Auditing
125 questions I 2.5 hours (150 minutes)

The CIA test Part 1 is well aligned with The IIAs International Professional Practices Framework (IPPF) and includes six domains covering the foundation of internal auditing; independence and objectivity; proficiency and due professional care; quality assurance and improvement programs; governance, risk management, and control; and fraud risk. Part one tests candidates knowledge, skills, and abilities related to the International Standards for the Professional Practice of Internal Auditing, particularly the Attribute Standards (series 1000, 1100, 1200, and 1300) as well as Performance Standard 2100.

Part 2 – Practice of Internal Auditing
100 questions I 2.0 hours (120 minutes)

The CIA test Part 2 includes four domains focused on managing the internal audit activity, planning the engagement, performing the engagement, and communicating engagement results and monitoring progress. Part 2 tests candidates knowledge, skills, and abilities particularly related to Performance Standards (series 2000, 2200, 2300, 2400, 2500, and 2600) and current internal audit practices.

Part 3 – Business Knowledge for Internal Auditing
100 questions I 2.0 hours (120 minutes)

The CIA test Part 3 includes four domains focused on business acumen, information security, information technology, and financial management. Part Three is designed to test candidates knowledge, skills, and abilities particularly as they relate to these core business concepts.

CIA test Development and Scoring
The CIA test is developed following best practices with the support of experts and professionals. Learn more about the test development process and how exams are scored.

The revised CIA test Part 1 is well aligned with The IIAs International Professional Practices Framework (IPPF) and includes six domains covering the foundation of internal auditing; independence and objectivity; proficiency and due professional care; quality assurance and improvement programs; governance, risk management, and control; and fraud risk. Part One tests candidates knowledge, skills, and abilities related to the International Standards for the Professional Practice of Internal Auditing, particularly the Attribute Standards (series 1000, 1100, 1200, and 1300) as well as Performance Standard 2100.​
Domains Collapse All
I. Foundations of Internal Auditing (15%)
​ ​ ​Cognitive Level
A​ ​​Interpret The IIA's Mission of Internal Audit, Definition of Internal Auditing, and Core Principles for the Professional Practice of Internal Auditing, and the purpose, authority, and responsibility of the internal audit activity Proficient
​B ​Explain the requirements of an internal audit charter (required components, board approval, communication of the charter, etc.) Basic
​C ​Interpret the difference between assurance and consulting services provided by the internal audit activity ​Proficient
​D ​Demonstrate conformance with the IIA Code of Ethics ​​Proficient
II. ​Independence and Objectivity (15%)
​ ​ ​Cognitive Level
A​ ​​Interpret organizational independence of the internal audit activity (importance of independence, functional reporting, etc.) Basic
​B ​Identify whether the internal audit activity has any impairments to its independence Basic
​C ​Assess and maintain an individual internal auditor's objectivity, including determining whether an individual internal auditor has any impairments to his/her objectivity ​Proficient
​D ​Analyze policies that promote objectivity ​​Proficient
III. Proficiency and Due Professional Care (18%)​
​ ​ ​Cognitive Level
A​ ​​Recognize the knowledge, skills, and competencies required (whether developed or procured) to fulfill the responsibilities of the internal audit activity Basic
​B ​Demonstrate the knowledge and competencies that an internal auditor needs to possess to perform his/her individual responsibilities, including technical skills and soft skills (communication skills, critical thinking, persuasion/negotiation and collaboration skills, etc.) Proficient
​C Demonstrate due professional care ​Proficient
​D Demonstrate an individual internal auditor's competency through continuing professional development ​​Proficient
IV. Quality Assurance and Improvement Program (7%)​
​ ​ ​Cognitive Level
A​ ​​Describe the required elements of the quality assurance and improvement program (internal assessments, external assessments, etc.) Basic
​B ​Describe the requirement of reporting the results of the quality assurance and improvement program to the board or other governing body Basic
​C ​​Identify appropriate disclosure of conformance vs. nonconformance with The IIAs International Standards for the Professional Practice of Internal Auditing Basic
V. Governance, Risk Management, and Control (35%)
​ ​ ​Cognitive Level
A​ ​​Describe the concept of organizational governance Basic
​B ​Recognize the impact of organizational culture on the overall control environment and individual engagement risks and controls Basic
​C ​Recognize and interpret the organization's ethics and compliance-related issues, alleged violations, and dispositions ​Basic
​D ​Describe corporate social responsibility ​​Basic
​E ​Interpret fundamental concepts of risk and the risk management process Proficient​
​F ​Describe globally accepted risk management frameworks appropriate to the organization (COSO - ERM, ISO 31000, etc.) Basic​
G​ ​Examine the effectiveness of risk management within processes and functions ​Proficient
​H ​Recognize the appropriateness of the internal audit activitys role in the organization's risk management process ​Basic
​I ​Interpret internal control concepts and types of controls ​Proficient
​J ​Apply globally accepted internal control frameworks appropriate to the organization (COSO, etc.) ​Proficient
​K ​Examine the effectiveness and efficiency of internal controls Proficient​
VI. Fraud Risks (10%)​
​ ​ ​Cognitive Level
A​ ​​Interpret fraud risks and types of frauds and determine whether fraud risks require special consideration when conducting an engagement Proficient
​B ​Evaluate the potential for occurrence of fraud (red flags, etc.) and how the organization detects and manages fraud risks Proficient
​C ​Recommend controls to prevent and detect fraud and education to Excellerate the organization's fraud awareness ​Proficient
​D ​Recognize techniques and internal audit roles related to forensic auditing (interview, investigation, testing, etc.) ​​Basic
Additional noteworthy elements related to the revised CIA Part One test syllabus:

IPPF elements such as the Mission of Internal Audit and Core Principles for the Professional Practice of Internal Auditing are included.
The syllabus features greater alignment with The IIAs Attribute Standards.
The test covers the differences between assurance and consulting engagements.
The test covers appropriate disclosure of conformance vs. nonconformance with the Standards.
The largest domain is “Governance, Risk Management, and Control,” which makes up 35%of the exam.
A portion of the test requires candidates to demonstrate a basic comprehension of concepts; another portion requires candidates to demonstrate proficiency in their knowledge, skills, and abilities.

The Certified Internal Auditor® (CIA®) test is developed following best practices with the support of experts and professionals. In accordance with test development industry standards, a job analysis study is conducted with a diverse and experienced group of internal auditors to identify the essential knowledge and skills required for internal auditors.
This information is then distributed more broadly to the field through an online survey to obtain additional feedback from internal auditors around the world, to validate its importance and ensure that it reflects current internal audit practices.
Based on the results of the global job analysis study, the CIA test syllabus is developed. The test syllabus guides the development of test questions to ensure the fairness and validity of the exam.

Certified Internal Auditor (CIA)
Financial Certified pdf
Killexams : Financial Certified pdf - BingNews https://killexams.com/pass4sure/exam-detail/CIA-I Search results Killexams : Financial Certified pdf - BingNews https://killexams.com/pass4sure/exam-detail/CIA-I https://killexams.com/exam_list/Financial Killexams : CFP Board to launch review of competency standards for credential

The Certified Financial Planner Board of Standards Inc. next year will rethink what kind of knowledge, skills and abilities financial advisers should possess to obtain and hold the credential.

The CFP Board announced Tuesday it will form a Competency Standards Commission in early 2023. The group — made up of people from the financial industry, educators, certification and credentialing experts and members of the public — will conduct a comprehensive review of the education, examination, experience and continuing education requirements related to the CFP mark.

The effort will be similar to the CFP Board’s assessment of the credential’s ethical standards several years ago, which led to expanding the fiduciary duty that CFP holders have to their clients when providing investment advice.

“I think this is an important step as we think about the emergence of the financial planning profession,” CFP Board CEO Kevin Keller said in an interview at the Financial Planning Association’s annual conference in Seattle. “The public, advisers, firms all recognize CFP certification as the standard for financial planning, and there’s never been a thorough review. I think it’s time for us to do that.”

Under current rules, a person must be a college graduate to pursue the CFP credential and must complete 30 hours of continuing education every two years to renew it. The commission will take a fresh look at such requirements and either validate them or recommend changes to the CFP Board.

The CFP Board expects to name members of the commission in February. The group’s work will take about 24 months. The commission is one of the initiatives contained in the strategic plan the CFP Board released in November 2021.

The CFP Board’s review of competency standards is occurring at the same time that FPA is undertaking an effort to obtain legal protection for the title “financial planner.” That involves setting competency and ethical standards for financial planning.

“The CFP designation and the standards it represents have become the foundation for financial planning,” James Lee, owner of Lee Investment Management, said during a Monday event at the FPA conference.

But Lee added that there are no “universally accepted standards” that people must meet before calling themselves financial planners. He sees title protection as the “bridge” to establishing financial planning as a profession.

“Financial planning will never be a distinct profession until it’s recognized by all segments of society — that is, consumers, practitioners and regulators,” Lee said.

The question is whether FPA is trying to reinvent a wheel the CFP Board has already created.

“We think the CFP certification is the standard,” Keller said.

He points out that the CFP Board has invested $150 million over the last 12 years in an advertising campaign to raise public awareness about the credential. It also has spent millions of dollars enforcing the ethical standards attached to it.

“We’re working very hard to make sure the public recognizes CFP as the standard for financial planning,” Keller said.

As the CFP Board’s commission launches next year, the FPA will be holding meetings with planners and others to determine threshold competency and ethical standards that will serve as the foundation for title protection.

The CFP Board is the professional body for the approximately 94,000 CFPs in the United States. The FPA has about 19,000 members, the vast majority of whom hold CFPs.

“FPA describes itself as the leading membership organization for CFP® professionals, therefore CFP Board hopes that what they advocate for will be based on the competency and ethical standards of CFP® certification,” the CFP Board said in a statement.

Title protection is “a very seductive concept,” Keller said. “When you get down into the details, though, I think that’s what we’ll be interested to hear. How do they think it’s going to work?”

Tue, 13 Dec 2022 02:19:00 -0600 en-US text/html https://www.investmentnews.com/cfp-board-to-launch-review-of-competency-standards-for-credential-230208
Killexams : The value of a Certified Financial Planner

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Thu, 24 Nov 2022 10:00:00 -0600 en-US text/html https://www.iol.co.za/personal-finance/financial-planning/the-value-of-a-certified-financial-planner-f2550998-c9ad-41e1-a994-2726e96e610d
Killexams : Chartered Financial Analysts Are The Rock Stars Of Finance

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

CFA stands for chartered financial analyst, a professional designation awarded by the CFA Institute to candidates with proven competence in investment analysis and wealth management.

Think of CFAs as the all-stars of the money management industry: They excel in the competitive world of financial analysis and have put the extra work required to earn the gold standard in their profession.

CFA Definition

When you see CFA as part of someone’s title, that means they are a professional with in-depth training in the core skills of investment strategy and high-level money management. To earn the title of CFA, charter holders must demonstrate expertise in financial research, portfolio management, investment consulting, risk analysis and risk management.

Earning a CFA is often a requirement for becoming a chief investment officer at an investment firm or public company; engaging in credit analysis, corporate accounting and auditing; or doing financial planning for high net-worth individuals. The CFA Institute awards the certification, which is widely considered the apex for professional development in investment management.

“A CFA charter holder is someone who has attained one of the highest distinctions in the investment management profession,” says Jeremy Keil, a CFA and financial planner at Keil Financial Partners in New Berlin, Wisc. “They are trained in deep investment analysis, well beyond the knowledge of a typical financial advisor.”

The only downside to hiring a CFA? “They are tough to find,” Keil says. “Most work for institutions managing million-dollar-plus portfolios and don’t work directly with regular financial consumers.”

How to Earn a CFA

Becoming a chartered financial analyst is a complicated proposition, by design. It’s considered very tough to run the gauntlet of training and testing required to achieve CFA status.

“The requirements of becoming a CFA are rigorous and retain a type of elite status, which is another reason why CFAs can be expensive for the financial consumer who hires them,” says Daniel Rodriguez, director of operations at Hill Wealth Strategies, in Richmond, Va.

To become a CFA charter holder, candidates must:

  • Have a bachelor’s degree or a degree from an equivalent academic program or 11 months or fewer to graduation if they are still studying.
  • Have 4,000 hours of relevant work experience acquired over at least three sequential years.
  • Pass a series of three six-hour exams.
  • Be able to travel worldwide, be fluent in English and reside in a country that recognizes CFAs.

The tests are famously rigorous and may require 900 hours or more of study in 10 course areas to prepare for. Most CFA applicants don’t make the cut, for a variety of reasons.

“The exams assess the person’s knowledge of economics, personal and professional ethical situations, money management scenarios, as well as other syllabus relating to money management and finance that must be expressed, depending on which test, either quantifiable or qualitatively, or both,” says Rodriguez. “The pass rate for each section of the three exams is less than 40%.” After all of the exams, that works out to a rate of less than one in five candidates receiving their CFA, according to the CFA Institute.

Even after the exams and the prerequisites to take the test are met, CFA’s still have some work to do. They need to pay annual dues and certify they remain in good standing with the CFA principles.

“In educational terms, holding a CFA is equivalent to achieving a master’s degree in one’s field,” says Rodriguez.

CFA vs CFP: Different Skills for Different Needs

The designations for certified financial planner (CFP) and CFA may seem somewhat similar at first glance. While both titles tread the same wealth management turf, a chartered financial analyst plays a very different role than a certified financial planner, and in most cases offers a very different skill set.

​“The main difference between a CFA and certified financial planner is that a certified financial planner works with individual clients to achieve personal financial goals in the short- and long-term,” says Rodriguez. “A chartered financial analyst works with large-scale, corporate investment opportunities and situations.”

A CFP focuses on financial planning for individuals and families, and they benefit from having strong people skills. CFPs know a great deal about investing and personal finances, but their knowledge is oriented toward building and managing investment portfolios for clients.

Meanwhile, the skillset of a CFA is focused on high-level investment management, and they are trained in economics, financial reporting, corporate finance and complex equity investing strategies. CFAs often work at large organizations and handle research and analysis for investment companies.

For regular individuals who need help setting up a financial plan and managing personal investments, a CFP generally more than meets their needs. “Unless, they have a great deal of financial wealth to manage,” says Rodriguez, in which case a CFA might make sense.

How Much Do CFAs Cost?

CFAs are well-paid financial professionals. According to Payscale.com, a chartered financial analyst typically earns a base salary of $90,000, plus bonuses of up to $50,000 annually, along with profit sharing, stock equity and other high-end employee benefits, in most cases.

“The cost of a CFA depends on the position they’re filling,” says David Wright, executive director of practice development at M&O Marketing in Southfield, Mich., who works with investment advisors to build their practices. “However, for the industry’s gold standard, we have seen a level pay increase of 7% per year since 2012.”

If you’re working one-on-one with a chartered financial analyst, expect to pay the same fee structure most financial advisors use. For example, expect a common charge of $1,500 to $2,500 for a one-time portfolio construction fee.

Past that, you’ll probably pay around 1% of your total assets managed on an annual basis. That means if you have a portfolio of $3 million under CFA management, you’ll be paying a management fee of $30,000 per year.

How to Choose a CFA

If you’re a high net-worth individual, chances are you can access the services of a certified financial analyst via your bank’s private banking services, an investment management firm, a hedge fund company or any other high-end wealth management firm.

Or you can go it alone. You should do your homework on prospective CFAs in any case, but when flying solo, you need to be extra careful.

“To hire a CFA, go to the CFA Institute Career Center, which connects employers and recruiters with investment professionals associated with the institute,” Wright says. “Due diligence is important when selecting any member of your investment team. FINRA.gov and the CFA Institute allow you to look up information on designation members and verify their status.” The CFA Institute also has a listing of all CFA charter holders.

If a CFA isn’t the best professional for your roster, try aiming for other money management designations that align with your personal needs. “Some common alternatives may be a certified financial planner or an investment advisor,” he adds.

You’ll also want to make sure any potential financial professionals in your life are fiduciaries, meaning they’re legally required to put your financial best interests above theirs.

Does a CFA Make Sense For You?

Whether you need to work with a CFA depends on two issues: The size of your investment portfolio and your unique investment management needs.

“Most clients need someone to answer their questions that aren’t related to stocks and bonds, and a certified financial professional is your best bet there,” says Keil. Whether that professional is a CFA, a CFP or something else entirely will depend on your personal financial situation.

Tue, 29 Nov 2022 04:28:00 -0600 Brian O'Connell en-US text/html https://www.forbes.com/advisor/investing/cfa-chartered-financial-analyst/
Killexams : Find A Financial Advisor Near You

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

Do you need help managing your money? If you’re like many Americans, you might need a hand. According to the National Financial Education Council, a lack of personal finance knowledge costs the average American $1,200 a year.

Finding a good financial advisor can help you avoid these costs and focus on goals. Financial advisors aren’t just for rich people—working with an advisor is a great choice for anyone who wants to get their personal finances on track and set long-term objectives. Follow these steps to find the right financial advisor for your needs.

Related: Find A Financial Advisor In 3 minutes

1. Decide What Part of Your Financial Life You Need Help With

Before you speak to a financial advisor, decide which aspects of your financial life you need help with. When you first sit down with an advisor, you’ll want to be ready to explain your particular money management needs.

Keep in mind that financial advisors provide more than just investment advice. The best financial planner is the one who can help you chart a course for all your financial needs. This can cover investment advice for retirement plans, debt repayment, insurance product suggestions to protect yourself and your family, and estate planning.

Depending on where you are in life, you may not need comprehensive financial planning. People whose financial lives are relatively straightforward, like young people without families of their own or significant debt, might only need help with retirement planning.

People with complex financial needs, however, may need extra assistance. They could be looking to establish college funds or trusts for their children, navigate aggressive debt payment situations or solve tricky tax problems. Not all types of financial advisors offer the same menu of services, so decide which services you need and let this guide your search.

2. Learn About the Different Types of Financial Advisors

There’s no federal law that regulates who can call themselves a financial advisor or provide financial advice. While many people call themselves financial advisors, not all have your best interest at heart. That’s why you have to carefully evaluate potential financial advisors and make sure they are good for you and your money.

Part of learning about the different types of advisors is understanding fiduciary duty. Some, but not all, financial advisors are bound by fiduciary duty, meaning that they are legally required to work in your financial best interest. Other people who call themselves advisors are only held to a suitability standard, meaning they only must suggest products that are suitable for you—even if they’re more expensive and earn them a higher commission. (The SEC is trying to regulate this, though, by limiting the use of “advisor” to those who hold themselves to a fiduciary standard.)

Regardless of which kind of advisor you choose, you should make sure you know how they earn money. This helps you determine if their recommendations are actually better for you—or for their wallets.

Here’s how to think about the different types of financial advisors:

Fee-Only Financial Advisors

Fee-only financial advisors earn money from the fees you pay for their services. These fees may be charged as a percentage of the assets they manage for you, as an hourly rate, or as a flat rate.

Almost all fee-only advisors are fiduciaries. Generally speaking, they have chosen to work under a fee-only model to reduce any potential conflicts of interest. Because their income is from clients, it’s in their best interest to make sure you end up with financial plans and financial products that work best for you.

Financial Advisors Who Earn Commissions

Some financial advisors make money by earning sales commissions from third parties. Among financial advisors that earn sales commissions, some may advertise themselves as “free” financial advisors that do not charge you fees for advice. Others may charge fees, meaning they derive only part of their income from third-party commissions.

Either way, financial advisors who earn third-party sales commissions derive some or all of their income from selling you certain financial products. If you choose to work with a financial advisor who earns sales commissions, you need to take extra care.

Commission-only advisors are not fiduciaries. They work as salespeople for investment and insurance brokerages, and are only held to suitability standards. In contrast, some fee-based financial advisors are fiduciaries, though it’s important to determine if they’re always acting as fiduciaries or if they “pause” fiduciary duty when discussing certain types of products, like insurance.

Related: Find A Financial Advisor In 3 minutes

Keep in mind, commissions aren’t bad in and of themselves. They’re not even necessarily red flags.

Some financial products are predominantly sold under a commission model. Take life insurance: A fee-based planner who receives compensation for helping you purchase a life insurance policy may still have your best interests at heart when advising on other financial products.

“To be clear, there’s nothing wrong with paying the commission for life insurance,” says Karen Van Voorhis, a fee-based certified financial planner (CFP) and Director of Financial Planning at Daniel J. Galli & Associates in Norwell, Mass. “That’s how the structure of that industry works.”

Purchasing financial products via financial advisors that earn commissions may be a matter of convenience, especially if someone will receive a commission regardless of where you buy the product. What’s important is understanding the difference. And if you work with a fee-based financial advisor, understand when they are acting as a fiduciary, especially when they help you purchase financial products.

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Registered Investment Advisors

Registered Investment Advisors (RIAs) are companies that provide fiduciary financial advice. RIAs employ Investment Advisor Representatives (IARs), who are bound by fiduciary duty. An RIA may have one or hundreds of IARs working for it.

IARs may call themselves financial advisors, and may be fee-only or fee-based. Some may have additional credentials, including the certified financial planner (CFP) designation.

“The certified financial planner designation is really the gold standard in the financial planning industry,” says Van Voorhis. A CFP designation indicates a financial advisor has passed rigorous industry exams covering real estate, investment, and insurance planning as well as has years of experience in their fields.

Because of their wide range of expertise, CFPs are well suited to help you plan out every aspect of your financial life. They may be particularly helpful for those with complex financial situations, including managing large outstanding debts and will, trust, and estate planning.

Robo-Advisors

Robo-advisors offer low-cost, automated investment advice. Most specialize in helping people invest for mid- and long-term goals, like retirement, through preconstructed diversified portfolios of exchange traded funds (ETFs).

“For younger people who are really tech savvy, a robo-advisor just to manage retirement funds could be a perfect solution,” says Brian Behl, a CFP at Behl Wealth Management in Waukesha, Wisc. “I don’t think they’re going to get as in-depth advice on insurance and retirement and taxes.”

People with complex financial needs should probably choose a conventional financial advisor, although many robo-advisors provide financial planning services a la carte or for higher net worth clients.

“While the robos have really disrupted the industry…I do think there’s still a place for human advisors right now,” says Corbin Blackwell, a CFP at robo-advisor Betterment.

Betterment, for example, allows clients to purchase individual financial advising sessions, and Personal Capital, Wealthsimple, and Betterment provide regular financial planning for clients with higher account balances for a management fee.

3. Choose Which Financial Advisor Services You Want

Services offered by financial advisors vary from advisor to advisor, but advisors may provide any of the following:

  • Investment advice. Financial advisors research different investment options and make sure your investment portfolio stays within your desired level of risk.
  • Debt management. If you have outstanding debts, like credit card debt, student loans, car loans, or mortgages, financial advisors will work with you to chart a plan for repayment.
  • Budgeting help. Financial advisors are experts in analyzing where your money goes once it leaves your paycheck. Advisors can help you craft budgets so you’re prepared to reach your financial goals.
  • Insurance coverage. Financial advisors may examine your current policies to identify any gaps in coverage or recommend new types of policies, like disability insurance or long-term care coverage, depending on your financial situation.
  • Tax planning. Tax planning involves strategizing ways to decrease the amount of taxes you may pay, like by large charitable donations or tax-loss harvesting. Keep in mind that not all financial planners are tax experts and that tax planning is different from tax preparing. You will probably still need a CPA or tax software to file your taxes.
  • Retirement planning. Financial advisors can help you build funds for the ultimate long-term goal, retirement. And then, once you’re retired or nearing retirement, they can help ensure you’re able to keep your money safe.
  • Estate planning. For those who wish to leave a legacy, financial advisors can help you transfer your wealth to the next generation, whether that’s family, friends, or charitable causes.
  • College planning. If you hope to fund loved ones’ educations, financial advisors can craft a plan to help you save for their higher education.

In addition to investment management and financial planning, financial advisors also offer emotional support and perspective during volatile economic times. During the beginning of the coronavirus pandemic in March of 2020, for instance, client demand for financial advisor contact increased by almost 50% .

Related: Find A Financial Advisor In 3 minutes

“I think that during these times, we can be a source of reason,” says Blackwell. “We can weather the storm. We’ve built this portfolio for a reason.”

When choosing a financial advisor, make sure they offer the services you’re looking for in your financial and non-financial lives.

Looking For A Financial Advisor?

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4. Decide How Much You Can Pay Your Financial Advisor

It used to be that financial advisors charged fees that were a percentage of the assets they managed for you. Today advisors offer a wide variety of fee structures, which helps make their services accessible to clients of all levels of financial means.

Commission-only advisors may seem free on paper, but they may receive a portion of what you invest or purchase as a payment. These “free” financial advisors typically are available through investment or insurance brokerages. Remember, these advisors may only be held to suitability standards, so they may end up costing what you would pay for a similar financial product suggested by a fiduciary financial advisor—or more.

Fee-only and fee-based financial advisors may charge fees based on the total amount of assets they manage for you (assets under management) or they may charge by the hour, by the plan, through a retainer agreement, or via a subscription model. Common average financial advisor fee rates are listed in the table below:

5. Research Financial Advisors

Because financial advisors come in many forms with many different specialties and offerings, you need to thoroughly research potential advisors. You want to make sure the person guiding your financial decisions is trustworthy and capable.

You can find good financial advisors a couple of ways. Ask friends, family and peers for recommendations. Alternatively, look for financial advisors online. Many professional financial planning associations provide free databases of financial advisors:

When evaluating advisors, be sure to consider their credentials as well as research their backgrounds and fee structures. You can view disciplinary actions and complaints filed against financial advisors using FINRA’s BrokerCheck. And remember, just because someone is a part of a financial planning association, that doesn’t mean they’re a fiduciary financial advisor.

Questions to Ask a Financial Advisor

In your first meeting with a financial advisor, make sure you learn the answers to these questions and that you’re comfortable with their responses.

  • Are you a fiduciary?
  • Are you always acting as a fiduciary? (Some fee-based advisors may not always act as fiduciaries when selling commission-based products.)
  • How do you make your money?
  • What is your approach to financial planning?
  • What financial planning services do you offer?
  • What kind of clients do you normally work with?
  • Do you have any account minimums?
  • Do you have any conflicts of interest in managing my money?
  • What information do I need to bring for you to look at when developing my financial plan?
  • How many times and how often will we meet?
  • Will you collaborate with my other advisors, like CPAs or attorneys?

Related: Find A Financial Advisor In 3 minutes

The Bottom Line

Because of the ambiguity in the industry, you have to exercise caution to make sure you get the right financial advisor who meets your fiduciary and financial needs. That said, when you find the right financial advisor for you, they can help you achieve your financial goals and financially protect your loved ones and their futures.

“So much of what I do in a life-centered approach to financial planning and wealth management is walk out life with people,” says Wes Brown, a CFP at CogentBlue Wealth Advisors in Knoxville, Tenn. “I think there’s value in an ongoing relationship where somebody can help you walk through the various waypoints you’re going to come to.

Looking For A Financial Advisor?

Get In Touch With A Pre-screened Financial Advisor In 3 Minutes

Thu, 08 Dec 2022 16:24:00 -0600 John Schmidt en-US text/html https://www.forbes.com/advisor/investing/how-to-choose-a-financial-advisor/
Killexams : Compliance Training for Financial Institutions Market 2022 : Trends, Industry Structure, Development, Demographics, Developing Factors By 2028

The MarketWatch News Department was not involved in the creation of this content.

Dec 09, 2022 (The Expresswire) -- Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this industry.

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Compliance Training for Financial Institutions Market Size is projected to Reach Multimillion USD by 2028, In comparison to 2021, at unexpected CAGR during the forecast Period 2022-2028.

Browse Detailed TOC, Tables and Figures with Charts that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

Considering the economic change due to COVID-19 and Russia-Ukraine War Influence, Compliance Training for Financial Institutions, which accounted for % of the global market of Compliance Training for Financial Institutions in 2021

TO KNOW HOW COVID-19 PANDEMIC AND RUSSIA UKRAINE WAR WILL IMPACT THIS MARKET - REQUEST SAMPLE

Moreover, it helps new businesses perform a positive assessment of their business plans because it covers a range of syllabus market participants must be aware of to remain competitive.

Compliance Training for Financial Institutions Market Report identifies various key players in the market and sheds light on their strategies and collaborations to combat competition. The comprehensive report provides a two-dimensional picture of the market. By knowing the global revenue of manufacturers, the global price of manufacturers, and the production by manufacturers during the forecast period of 2022 to 2028, the reader can identify the footprints of manufacturers in the Compliance Training for Financial Institutions industry.

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Compliance Training for Financial Institutions Market - Competitive and Segmentation Analysis:

Compliance Training for Financial Institutions Market Reportproviding an overview of successful marketing strategies, market contributions, and latest developments of leading companies, the report also offers a dashboard overview of leading companies' past and present performance. Several methodologies and analyses are used in the research report to provide in-depth and accurate information about the Compliance Training for Financial Institutions Market.

The Major players covered in the Compliance Training for Financial Institutions market report are:

● Edcomm Inc.
● Thomson Reuters
● Lorman Education Services
● Euromoney Institutional Investor Plc
● ProBank Austin
● New York Institute of Finance
● Euromoney Learning
● Regulatory Affairs Professionals Society
● NAVEX Global Inc.
● Thomson Reuters Corp.
● Bank Administration Institute
● Financial Industry Regulatory Authority Inc.
● Association of Certified Anti-Money Laundering specialists LLC

Short Description About Compliance Training for Financial Institutions Market:

The Global Compliance Training for Financial Institutions market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2028. In 2021, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Highlights

The global Compliance Training for Financial Institutions market is projected to reach USD million by 2028 from an estimated USD million in 2022, at a CAGR of % during 2023 and 2028.

North American market for Compliance Training for Financial Institutions is estimated to increase from USD million in 2022 to reach USD million by 2028, at a CAGR of % during the forecast period of 2023 through 2028.

Asia-Pacific market for Compliance Training for Financial Institutions is estimated to increase from USD million in 2022 to reach USD million by 2028, at a CAGR of % during the forecast period of 2022 through 2028.

The major global companies of Compliance Training for Financial Institutions include Edcomm Inc., Thomson Reuters, Lorman Education Services, Euromoney Institutional Investor Plc, ProBank Austin, New York Institute of Finance, Euromoney Learning, Regulatory Affairs Professionals Society, NAVEX Global Inc., Thomson Reuters Corp., Bank Administration Institute, Financial Industry Regulatory Authority Inc., Association of Certified Anti-Money Laundering specialists LLCetc. In 2021, the world's top three vendors accounted for approximately % of the revenue.

The global market for Compliance Training for Financial Institutions is estimated to increase from USD million in 2022 to USD million by 2028, at a CAGR of % during the forecast period of 2022 through 2028.

Report Scope

This report aims to provide a comprehensive presentation of the global market for Compliance Training for Financial Institutions, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Compliance Training for Financial Institutions.

The Compliance Training for Financial Institutions market size, estimations, and forecasts are provided in terms of output/shipments (K PCs) and revenue (USD millions), considering 2021 as the base year, with history and forecast data for the period from 2017 to 2028. This report segments the global Compliance Training for Financial Institutions market comprehensively. Regional market sizes, concerning products by types, by application, and by players, are also provided. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Compliance Training for Financial Institutions manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, production, and average price for the overall market and the sub-segments across the different segments, by company, product type, application, and regions.

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Compliance Training for Financial Institutions Market is further classified on the basis of region as follows:

● North America (United States, Canada and Mexico) ● Europe (Germany, UK, France, Italy, Russia and Turkey etc.) ● Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam) ● South America (Brazil, Argentina, Columbia etc.) ● Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

This Compliance Training for Financial Institutions Market Research/Analysis Report Contains Answers to your following Questions

● What are the global trends in the Compliance Training for Financial Institutions market? Would the market witness an increase or decline in the demand in the coming years? ● What is the estimated demand for different types of products in Compliance Training for Financial Institutions? What are the upcoming industry applications and trends for Compliance Training for Financial Institutions market? ● What Are Projections of Global Compliance Training for Financial Institutions Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export? ● Where will the strategic developments take the industry in the mid to long-term? ● What are the factors contributing to the final price of Compliance Training for Financial Institutions? What are the raw materials used for Compliance Training for Financial Institutions manufacturing? ● How big is the opportunity for the Compliance Training for Financial Institutions market? How will the increasing adoption of Compliance Training for Financial Institutions for mining impact the growth rate of the overall market? ● How much is the global Compliance Training for Financial Institutions market worth? What was the value of the market In 2020? ● Who are the major players operating in the Compliance Training for Financial Institutions market? Which companies are the front runners? ● Which are the latest industry trends that can be implemented to generate additional revenue streams? ● What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Compliance Training for Financial Institutions Industry?

Customization of the Report

Our research analysts will help you to get customized details for your report, which can be modified in terms of a specific region, application or any statistical details. In addition, we are always willing to comply with the study, which triangulated with your own data to make the market research more comprehensive in your perspective.

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Detailed TOC of Global Compliance Training for Financial Institutions Market Insights and Forecast to 2028

1 Compliance Training for Financial Institutions Market Overview
1.1 Product Overview and Scope of Compliance Training for Financial Institutions
1.2 Compliance Training for Financial Institutions Segment by Type
1.2.1 Global Compliance Training for Financial Institutions Market Size Growth Rate Analysis by Type 2022 VS 2028
1.3 Compliance Training for Financial Institutions Segment by Application
1.3.1 Global Compliance Training for Financial Institutions Consumption Comparison by Application: 2022 VS 2028
1.4 Global Market Growth Prospects
1.4.1 Global Compliance Training for Financial Institutions Revenue Estimates and Forecasts (2017-2028)
1.4.2 Global Compliance Training for Financial Institutions Production Estimates and Forecasts (2017-2028)
1.5 Global Market Size by Region
1.5.1 Global Compliance Training for Financial Institutions Market Size Estimates and Forecasts by Region: 2017 VS 2021 VS 2028
1.5.2 North America Compliance Training for Financial Institutions Estimates and Forecasts (2017-2028)
1.5.3 Europe Compliance Training for Financial Institutions Estimates and Forecasts (2017-2028)
1.5.4 China Compliance Training for Financial Institutions Estimates and Forecasts (2017-2028)
1.5.5 Japan Compliance Training for Financial Institutions Estimates and Forecasts (2017-2028)
1.5.6 South Korea Compliance Training for Financial Institutions Estimates and Forecasts (2017-2028)

2 Market Competition by Manufacturers
2.1 Global Compliance Training for Financial Institutions Production Market Share by Manufacturers (2017-2022)
2.2 Global Compliance Training for Financial Institutions Revenue Market Share by Manufacturers (2017-2022)
2.3 Compliance Training for Financial Institutions Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.4 Global Compliance Training for Financial Institutions Average Price by Manufacturers (2017-2022)
2.5 Manufacturers Compliance Training for Financial Institutions Production Sites, Area Served, Product Types
2.6 Compliance Training for Financial Institutions Market Competitive Situation and Trends
2.6.1 Compliance Training for Financial Institutions Market Concentration Rate
2.6.2 Global 5 and 10 Largest Compliance Training for Financial Institutions Players Market Share by Revenue
2.6.3 Mergers and Acquisitions, Expansion

3 Production by Region
3.1 Global Production of Compliance Training for Financial Institutions Market Share by Region (2017-2022)
3.2 Global Compliance Training for Financial Institutions Revenue Market Share by Region (2017-2022)
3.3 Global Compliance Training for Financial Institutions Production, Revenue, Price and Gross Margin (2017-2022)
3.4 North America Compliance Training for Financial Institutions Production
3.4.1 North America Compliance Training for Financial Institutions Production Growth Rate (2017-2022)
3.4.2 North America Compliance Training for Financial Institutions Production, Revenue, Price and Gross Margin (2017-2022)
3.5 Europe Compliance Training for Financial Institutions Production
3.5.1 Europe Compliance Training for Financial Institutions Production Growth Rate (2017-2022)
3.5.2 Europe Compliance Training for Financial Institutions Production, Revenue, Price and Gross Margin (2017-2022)
3.6 China Compliance Training for Financial Institutions Production
3.6.1 China Compliance Training for Financial Institutions Production Growth Rate (2017-2022)
3.6.2 China Compliance Training for Financial Institutions Production, Revenue, Price and Gross Margin (2017-2022)
3.7 Japan Compliance Training for Financial Institutions Production
3.7.1 Japan Compliance Training for Financial Institutions Production Growth Rate (2017-2022)
3.7.2 Japan Compliance Training for Financial Institutions Production, Revenue, Price and Gross Margin (2017-2022)
3.8 South Korea Compliance Training for Financial Institutions Production
3.8.1 South Korea Compliance Training for Financial Institutions Production Growth Rate (2017-2022)
3.8.2 South Korea Compliance Training for Financial Institutions Production, Revenue, Price and Gross Margin (2017-2022)

4 Global Compliance Training for Financial Institutions Consumption by Region
4.1 Global Compliance Training for Financial Institutions Consumption by Region
4.1.1 Global Compliance Training for Financial Institutions Consumption by Region
4.1.2 Global Compliance Training for Financial Institutions Consumption Market Share by Region
4.2 North America
4.2.1 North America Compliance Training for Financial Institutions Consumption by Country
4.2.2 United States
4.2.3 Canada
4.3 Europe
4.3.1 Europe Compliance Training for Financial Institutions Consumption by Country
4.3.2 Germany
4.3.3 France
4.3.4 U.K.
4.3.5 Italy
4.3.6 Russia
4.4 Asia Pacific
4.4.1 Asia Pacific Compliance Training for Financial Institutions Consumption by Region
4.4.2 China
4.4.3 Japan
4.4.4 South Korea
4.4.5 China Taiwan
4.4.6 Southeast Asia
4.4.7 India
4.4.8 Australia
4.5 Latin America
4.5.1 Latin America Compliance Training for Financial Institutions Consumption by Country
4.5.2 Mexico
4.5.3 Brazil

5 Segment by Type
5.1 Global Compliance Training for Financial Institutions Production Market Share by Type (2017-2022)
5.2 Global Compliance Training for Financial Institutions Revenue Market Share by Type (2017-2022)
5.3 Global Compliance Training for Financial Institutions Price by Type (2017-2022)

6 Segment by Application
6.1 Global Compliance Training for Financial Institutions Production Market Share by Application (2017-2022)
6.2 Global Compliance Training for Financial Institutions Revenue Market Share by Application (2017-2022)
6.3 Global Compliance Training for Financial Institutions Price by Application (2017-2022)

7 Key Companies Profiled
7.1 Company 1
7.1.1 Company 1 Compliance Training for Financial Institutions Corporation Information
7.1.2 Company 1 Compliance Training for Financial Institutions Product Portfolio
7.1.3 Company 1 Compliance Training for Financial Institutions Production, Revenue, Price and Gross Margin (2017-2022)
7.1.4 Company 1 Main Business and Markets Served
7.1.5 Company 1 latest Developments/Updates

Continued..

8 Compliance Training for Financial Institutions Manufacturing Cost Analysis
8.1 Compliance Training for Financial Institutions Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Key Suppliers of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.3 Manufacturing Process Analysis of Compliance Training for Financial Institutions
8.4 Compliance Training for Financial Institutions Industrial Chain Analysis

9 Marketing Channel, Distributors and Customers
9.1 Marketing Channel
9.2 Compliance Training for Financial Institutions Distributors List
9.3 Compliance Training for Financial Institutions Customers

10 Market Dynamics
10.1 Compliance Training for Financial Institutions Industry Trends
10.2 Compliance Training for Financial Institutions Market Drivers
10.3 Compliance Training for Financial Institutions Market Challenges
10.4 Compliance Training for Financial Institutions Market Restraints

11 Production and Supply Forecast
11.1 Global Forecasted Production of Compliance Training for Financial Institutions by Region (2023-2028)
11.2 North America Compliance Training for Financial Institutions Production, Revenue Forecast (2023-2028)
11.3 Europe Compliance Training for Financial Institutions Production, Revenue Forecast (2023-2028)
11.4 China Compliance Training for Financial Institutions Production, Revenue Forecast (2023-2028)
11.5 Japan Compliance Training for Financial Institutions Production, Revenue Forecast (2023-2028)
11.6 South Korea Compliance Training for Financial Institutions Production, Revenue Forecast (2023-2028)

12 Consumption and Demand Forecast
12.1 Global Forecasted Demand Analysis of Compliance Training for Financial Institutions
12.2 North America Forecasted Consumption of Compliance Training for Financial Institutions by Country
12.3 Europe Market Forecasted Consumption of Compliance Training for Financial Institutions by Country
12.4 Asia Pacific Market Forecasted Consumption of Compliance Training for Financial Institutions by Region
12.5 Latin America Forecasted Consumption of Compliance Training for Financial Institutions by Country

13 Forecast by Type and by Application (2023-2028)
13.1 Global Production, Revenue and Price Forecast by Type (2023-2028)
13.1.1 Global Forecasted Production of Compliance Training for Financial Institutions by Type (2023-2028)
13.1.2 Global Forecasted Revenue of Compliance Training for Financial Institutions by Type (2023-2028)
13.1.3 Global Forecasted Price of Compliance Training for Financial Institutions by Type (2023-2028)
13.2 Global Forecasted Consumption of Compliance Training for Financial Institutions by Application (2023-2028)
13.2.1 Global Forecasted Production of Compliance Training for Financial Institutions by Application (2023-2028)
13.2.2 Global Forecasted Revenue of Compliance Training for Financial Institutions by Application (2023-2028)
13.2.3 Global Forecasted Price of Compliance Training for Financial Institutions by Application (2023-2028)

14 Research Finding and Conclusion

15 Methodology and Data Source
15.1 Methodology/Research Approach
15.1.1 Research Programs/Design
15.1.2 Market Size Estimation
15.1.3 Market Breakdown and Data Triangulation
15.2 Data Source
15.2.1 Secondary Sources
15.2.2 Primary Sources
15.3 Author List
15.4 Disclaimer

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Fri, 09 Dec 2022 12:45:00 -0600 en-US text/html https://www.marketwatch.com/press-release/compliance-training-for-financial-institutions-market-2022-trends-industry-structure-development-demographics-developing-factors-by-2028-2022-12-09
Killexams : Ameriprise promotes new military certification to recruit advisors

Ameriprise says a new program it launched in May to provide certification for financial advisors to serve veterans and military families has picked up steam as brokers increasingly cater to client segments beyond just wealth tiers. 

The Minneapolis-based financial services firm partnered with Dalton Education, a provider of CFP educational materials, to create what it calls a "first-to-market" Certified Military Financial Advisor online certificate course. The credential will remain exclusively open to financial advisors at Ameriprise until June 2024, according to a press release

Advisors can expect to spend around 40 to 50 hours on the certificate. syllabus include navigating benefit programs for different military divisions, retirement, life and disability insurance, death and survivorship benefits, education benefits, divorce, the VA home loan program, pay, estate planning, healthcare providers and more. 

An Ameriprise spokesperson said in an email that as of today, 46 advisors had been certified since the launch and another 78 are in the process. 

Mike Greene, senior vice president of Financial Advice and Advisor Business Group at Ameriprise Financial Services.

Ameriprise

"We're getting more interest every week," Mike Greene, the senior vice president of Financial Advice and Advisor Business Group at Ameriprise Financial Services, said in an interview. "We just finished some advisor training conferences, and this is one of the most popular syllabus that advisors were talking about."   

Last week, in advance of the Veterans' Day weekend, Raymond James also announced the launch of a new employee group, the Veteran Financial Advisors Network, to help advisors who are veterans in the company support each other and promote advisor careers to other veterans. 

Though wealth firms have long grouped clients by their amount of investable assets, employers competing for talent believe offerings like these will appeal to advisors seeking to develop niche areas of expertise. 

Greene said Ameriprise brought up this certification, among other opportunities, when recruiting talent and demonstrating its value proposition. "So many people want to focus on this area, and it is a valuable part of our offering," he said of the firm's resources for advising military families.  

"We want to help advisors grow their business, and we want to help them do the business the best way possible," he said. 

Sean Pearson, one of the first advisors to receive the Ameriprise certification, said in an interview that in-depth trainings like this help him stand out to clients by understanding their needs better — rather than being just a run-of-the-mill advisor using general market news to try to attract clients. 

"Every financial advisor in the industry is going to listen to a post-election, 'how does this hit back markets this week?' As a financial advisor and financial planner, I believe it's important that we become at least as much of an expert in our clients as we are in markets, politics and everything else," Pearson said. 

Sean Pearson, financial advisor and CMFA at Ameriprise.

Ameriprise

Pearson himself is also currently serving as a major in the Pennsylvania Air National Guard, he said. He specializes in helping families affiliated with the National Guard and Reserve. However, as someone who has not experienced active duty, there are programs some of his clients need help with that he doesn't have personal experience navigating.  

"That's what the certified military financial advisor program was for me, that opportunity to gain expertise in some of the areas that I didn't experience," Pearson said. Although most of his military clients have the same core financial needs for education and planning that civilians do, "The difference is there's an extra layer of information that you really have to understand to be in the military. There's a value in working with somebody who is an expert in that."

Greene said Ameriprise has around 10,000 advisors around the country, and many live and work in military communities. Ameriprise has its own veteran employee network called VETNET, and the company has been named a military friendly employer by organizations including the military recruitment marketing firm VIQTORY, so it is already known to attract talent from those communities. Advisors may be veterans themselves or have military families among their clients.

"They're definitely interested in this, so on their own, they had to do their homework and get smart about these kinds of benefits" in the past, he said. A few years ago, to provide a resource for these advisors, Ameriprise created a handbook to guide them in advising military families. The certificate is an expansion of that effort, Greene said. 

Greene is a veteran himself, having served in active duty until he was 30, he said. When his family members began experiencing health issues likely related to their time in military service, they were uninformed of and unprepared to navigate the wide array of veteran benefits available to them. 

"This is really personal," he said.

A survey earlier this year showed that among career military members, including officers and senior noncommissioned officers, financial literacy has declined across the board, highlighting the community's need for planning services. 

"There are different benefits available to active-duty members, to the guard, to the reserve, and it can be dizzying for the average person who's just trying to live their life," Greene said. 

When a health issue arises, he said, "often the plan they had in mind is really thrown for a loop. And if we've got access to resources, where we can say, 'hey, we've put a plan in place for this, let's talk about the benefits you have available,' they're in a totally different situation."

Mon, 14 Nov 2022 01:48:00 -0600 en text/html https://www.financial-planning.com/news/ameriprise-promotes-military-certification-to-recruit-advisors
Killexams : Secure Sockets Layer (SSL) Certification Market Global Industry Analysis by Size, Share, Growth Opportunities, Trends and Forecast 2023 – 2026

The MarketWatch News Department was not involved in the creation of this content.

Dec 06, 2022 (The Expresswire) -- Global “Secure Sockets Layer (SSL) Certification Market” 2023 Research report is an in-depth study of the market Analysis. Industry growth drivers, supply and demand, risks, market attractiveness, annual growth comparison, BPS analysis, SWOT analysis, and Porter's Five Forces model. Secure Sockets Layer (SSL) Certification Market report gives an inside and out audit of the Expansion Drivers, Potential Challenges, Distinctive Trends, and Opportunities for Market Players. Our Research experts have carried out detailed checks of the critical environment and have predicted the methodological structure used by market participants. The primary goal of the Secure Sockets Layer (SSL) Certification business report is to supply key insights on competition positioning, current scope, market potential, growth rates, and alternative relevant statistics.

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The research report has incorporated the analysis of different factors that augment the markets growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and also about each type from 2016 to 2026.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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● Symantec
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This research report categorizes the global Secure Sockets Layer (SSL) Certification market by top players/brands, region, type and end user. This report also studies the global Secure Sockets Layer (SSL) Certification market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels and distributors.

By the product type, the market is primarily split into

● OV SSL certificate ● DV SSL certificate ● EV SSL certificate

By the end users/application, this report covers the following segments

● SMEs ● Large enterprises ● Government agencies

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Impact of Covid-19

The emergence of COVID-19 has favourable effect on the Secure Sockets Layer (SSL) Certification market growth. There are significant investments in deployment of data centres owing to work from remote places situations. Other applications such as routers and switches, and servers also witnessed a high growth rate during the pandemic period.

Considering the influence of COVID-19 on the global Secure Sockets Layer (SSL) Certification market, this report analysed the impact from both global and regional perspectives. From production end to consumption end in regions such as North America, Europe, China, and Japan, the report put emphasis on analysis of market under COVID-19 and corresponding response policy in different regions.

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The report provides in-depth comprehensive analysis for regional segments thatcovers North America, Europe, Asia-Pacific, Middle East and Africa and Rest of World in Global Outlook Reportwith Market definitions, classifications, manufacturing processes, cost structures, development policies and plans.

In this study, the years considered to estimate the market size of Secure Sockets Layer (SSL) Certification are as follows:

History Year: 2016-2020

Base Year: 2020

Estimated Year: 2021

Forecast Year 2021 to 2026

For the data information by region, company, type and application, 2021 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

Influence of the Secure Sockets Layer (SSL) Certification market report:

● Comprehensive assessment of all opportunities and risk in the Secure Sockets Layer (SSL) Certification market. ● Secure Sockets Layer (SSL) Certification market latest innovations and major events. ● Detailed study of business strategies for growth of the Secure Sockets Layer (SSL) Certification market-leading players. ● Conclusive study about the growth plot of Secure Sockets Layer (SSL) Certification market for forthcoming years. ● In-depth understanding of Secure Sockets Layer (SSL) Certification market-particular drivers, constraints and major micro markets. ● Favourable impression inside vital technological and market latest trends striking the Secure Sockets Layer (SSL) Certification market.

The research includes historic data from 2016 to 2021 and forecasts until 2026 which makes the report’s an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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● Market share assessments for the regional and country-level segments ● Strategic recommendations for the new entrants ● Covers market data for 2021, 2023, until 2026 ● Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations) ● Strategic recommendations in key business segments based on the market estimations ● Competitive landscaping mapping the key common trends ● Company profiling with detailed strategies, financials, and latest developments ● Supply chain trends mapping the latest technological advancements

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Major Points from Table of Contents:

1 Secure Sockets Layer (SSL) Certification Introduction and Market Overview
1.1 Objectives of the Study
1.2 Overview of Secure Sockets Layer (SSL) Certification
1.3 Secure Sockets Layer (SSL) Certification Market Scope and Market Size Estimation
1.3.1 Market Concentration Ratio and Market Maturity Analysis
1.3.2 Global Secure Sockets Layer (SSL) Certification Revenue and Growth Rate from 2016-2026
1.4 Market Segmentation
1.4.1 Types of Secure Sockets Layer (SSL) Certification
1.4.2 Applications of Secure Sockets Layer (SSL) Certification
1.4.3 Research Regions
1.5 Market Dynamics
1.5.1 Secure Sockets Layer (SSL) Certification Industry Trends
1.5.2 Secure Sockets Layer (SSL) Certification Drivers
1.5.3 Secure Sockets Layer (SSL) Certification Market Challenges
1.5.4 Secure Sockets Layer (SSL) Certification Market Restraints
1.6 Industry News and Policies by Regions
1.6.1 Industry News
1.6.2 Industry Policies
1.7 Mergers and Acquisitions, Expansion Plans
1.8 Secure Sockets Layer (SSL) Certification Industry Development Trends under COVID-19 Outbreak
1.8.1 Global COVID-19 Status Overview
1.8.2 Influence of COVID-19 Outbreak on Secure Sockets Layer (SSL) Certification Industry Development

2 Industry Chain Analysis
2.1 Upstream Raw Material Supply and Demand Analysis
2.1.1 Global Secure Sockets Layer (SSL) Certification Major Upstream Raw Material and Suppliers
2.1.2 Raw Material Source Analysis
2.2 Major Players of Secure Sockets Layer (SSL) Certification
2.2.1 Major Players Manufacturing Base of Secure Sockets Layer (SSL) Certification in 2020
2.2.2 Major Players Market Distribution in 2020
2.3 Secure Sockets Layer (SSL) Certification Manufacturing Cost Structure Analysis
2.3.1 Production Process Analysis
2.3.2 Manufacturing Cost Structure of Secure Sockets Layer (SSL) Certification
2.3.3 Labor Cost of Secure Sockets Layer (SSL) Certification
2.4 Market Channel Analysis of Secure Sockets Layer (SSL) Certification
2.5 Major Down Stream Customers by Application

3 Global Secure Sockets Layer (SSL) Certification Market, by Type
3.1 Global Secure Sockets Layer (SSL) Certification Revenue and Market Share by Type (2016-2021)
3.2 Global Secure Sockets Layer (SSL) Certification Production and Market Share by Type (2016-2021)
3.3 Global Secure Sockets Layer (SSL) Certification Revenue and Growth Rate by Type (2016-2021)
3.3.1 Global Secure Sockets Layer (SSL) Certification Revenue and Growth Rate of OV SSL certificate
3.3.2 Global Secure Sockets Layer (SSL) Certification Revenue and Growth Rate of DV SSL certificate
3.3.3 Global Secure Sockets Layer (SSL) Certification Revenue and Growth Rate of EV SSL certificate
3.4 Global Secure Sockets Layer (SSL) Certification Price Analysis by Type (2016-2021)
3.4.1 Explanation of Different Type Product Price Trends

4 Secure Sockets Layer (SSL) Certification Market, by Application
4.1 Downstream Market Overview
4.2 Global Secure Sockets Layer (SSL) Certification Consumption and Market Share by Application (2016-2021)
4.3 Global Secure Sockets Layer (SSL) Certification Consumption and Growth Rate by Application (2016-2021)
4.3.1 Global Secure Sockets Layer (SSL) Certification Consumption and Growth Rate of SMEs (2016-2021)
4.3.2 Global Secure Sockets Layer (SSL) Certification Consumption and Growth Rate of Large enterprises (2016-2021)
4.3.3 Global Secure Sockets Layer (SSL) Certification Consumption and Growth Rate of Government agencies (2016-2021)

5 Global Secure Sockets Layer (SSL) Certification Consumption, Revenue ($) by Region (2016-2021)
5.1 Global Secure Sockets Layer (SSL) Certification Revenue and Market Share by Region (2016-2021)
5.2 Global Secure Sockets Layer (SSL) Certification Consumption and Market Share by Region (2016-2021)
5.3 Global Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4 North America Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4.1 North America Secure Sockets Layer (SSL) Certification Market Under COVID-19
5.4.2 North America Secure Sockets Layer (SSL) Certification SWOT Analysis
5.5 Europe Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.5.1 Europe Secure Sockets Layer (SSL) Certification Market Under COVID-19
5.5.2 Europe Secure Sockets Layer (SSL) Certification SWOT Analysis
5.6 China Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.6.1 China Secure Sockets Layer (SSL) Certification Market Under COVID-19
5.6.2 China Secure Sockets Layer (SSL) Certification SWOT Analysis
5.7 Japan Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.7.1 Japan Secure Sockets Layer (SSL) Certification Market Under COVID-19
5.7.2 Japan Secure Sockets Layer (SSL) Certification SWOT Analysis
5.8 Middle East and Africa Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.8.1 Middle East and Africa Secure Sockets Layer (SSL) Certification Market Under COVID-19
5.8.2 Middle East and Africa Secure Sockets Layer (SSL) Certification SWOT Analysis
5.9 India Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.9.1 India Secure Sockets Layer (SSL) Certification Market Under COVID-19
5.9.2 India Secure Sockets Layer (SSL) Certification SWOT Analysis
5.10 South America Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.10.1 South America Secure Sockets Layer (SSL) Certification Market Under COVID-19
5.10.2 South America Secure Sockets Layer (SSL) Certification SWOT Analysis
5.11 South Korea Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.11.1 South Korea Secure Sockets Layer (SSL) Certification Market Under COVID-19
5.11.2 South Korea Secure Sockets Layer (SSL) Certification SWOT Analysis
5.12 Southeast Asia Secure Sockets Layer (SSL) Certification Consumption, Revenue, Price and Gross Margin (2016-2021)
5.12.1 Southeast Asia Secure Sockets Layer (SSL) Certification Market Under COVID-19
5.12.2 Southeast Asia Secure Sockets Layer (SSL) Certification SWOT Analysis

6 Global Secure Sockets Layer (SSL) Certification Production by Top Regions (2016-2021)
6.1 Global Secure Sockets Layer (SSL) Certification Production by Top Regions (2016-2021)
6.2 North America Secure Sockets Layer (SSL) Certification Production and Growth Rate
6.3 Europe Secure Sockets Layer (SSL) Certification Production and Growth Rate
6.4 China Secure Sockets Layer (SSL) Certification Production and Growth Rate
6.5 Japan Secure Sockets Layer (SSL) Certification Production and Growth Rate
6.6 India Secure Sockets Layer (SSL) Certification Production and Growth Rate

7 Global Secure Sockets Layer (SSL) Certification Consumption by Regions (2016-2021)
7.1 Global Secure Sockets Layer (SSL) Certification Consumption by Regions (2016-2021)
7.2 North America Secure Sockets Layer (SSL) Certification Consumption and Growth Rate
7.3 Europe Secure Sockets Layer (SSL) Certification Consumption and Growth Rate
7.4 China Secure Sockets Layer (SSL) Certification Consumption and Growth Rate
7.5 Japan Secure Sockets Layer (SSL) Certification Consumption and Growth Rate
7.6 Middle East and Africa Secure Sockets Layer (SSL) Certification Consumption and Growth Rate
7.7 India Secure Sockets Layer (SSL) Certification Consumption and Growth Rate
7.8 South America Secure Sockets Layer (SSL) Certification Consumption and Growth Rate
7.9 South Korea Secure Sockets Layer (SSL) Certification Consumption and Growth Rate
7.10 Southeast Asia Secure Sockets Layer (SSL) Certification Consumption and Growth Rate

8 Competitive Landscape

Continue….

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Killexams : Best Reverse Mortgage Companies of 2022 | Money

Money.com 5 days ago Aly J. Yale

A reverse mortgage is a type of mortgage loan for seniors that works backward. Rather than making payments to your lender, you receive payments — sort of like an advance on your eventual home sale.

If you’re considering one of these loans, there are many reverse mortgage companies you could work with. Some offer more loan options or lower rates, while others come with better service or cater to different age groups than the typical 62-plus.

Not sure which one to choose? See our picks for the best reverse mortgage companies below.

Our Top Picks for Best Reverse Mortgage Companies

  • Best for low interest rates: Longbridge Financial
  • Best for product variety: Finance of America Reverse
  • Best for homebuyers: Fairway Independent Mortgage Company
  • Best for 55+ borrowers: Reverse Mortgage Funding
  • Best for tech-savvy borrowers: Open Mortgage
  • Best customer service: American Advisors Group
© Provided by Money.com © Provided by Money.com

Pros

  • Lowest interest rates on our list
  • Informative website with lots of resources
  • Good customer reviews and an A+ BBB rating
  • Jumbo loans go down to age 55
  • $500 discount for military service members and veterans
  • Remains your servicer after closing

Cons

  • Does not service Hawaii
  • Limited brick-and-mortar locations for in-person appointments
  • Recent regulatory" rel="nofollow" target="_blank">https://www.nmlsconsumeraccess.org/EntityDetails.aspx/Artifact/Other.pdf?q=275798-366980">regulatory action regarding licensing in California
  • 55+ loans not available in every state

HIGHLIGHTS

ProductsHECM, HECM for purchase, jumbo loansLoan amountsUp to $4 millionStates served49 states, plus Washington, D.C. (not Hawaii)More infoLongbridge-Financial.com

Why we chose this company: Longbridge Financial (NMLS #957935) is our top reverse mortgage lender — at least if low interest rates are your priority. When we analyzed government-backed Home Equity Conversion Mortgage (HECM) rate data from March 2021 to March 2022, Longbridge had the lowest average interest rate across our list.

The company — the No. 6 reverse mortgage lender in the country by volume — averaged a mere 2.14% for the 13-month period. By comparison, the average rate across all our top reverse mortgage lenders was 2.35%. (With a reverse mortgage, interest is added to the loan balance monthly based on the interest rate your loan carries.)

The company also has great customer reviews and few complaints, and it remains your servicer after closing — meaning you’ll do business with the same company for as long as you have the loan.

© Provided by Money.com

Pros

  • Wide product variety
  • Jumbo loans go down to age 55
  • Informative website with lots of resources
  • Second-lowest interest rates on our list
  • A+ BBB rating
  • Remains your servicer after closing

Cons

  • Jumbos not available in every state
  • 55+ loans not available in every state
  • Limited brick-and-mortar locations for in-person appointments

HIGHLIGHTS

ProductsHECM, HECM for purchase, jumbo loans, Equity Avail proprietary mortgage, home-sharingLoan amountsUp to $4 millionStates servedAll 50 states, plus D.C.More infoFAR.com

Why we chose this company: Finance of America Reverse (NMLS #2285) has something for just about everyone. It offers the popular HECM reverse mortgage, HomeSafe jumbo loans up to $4 million and a few alternatives that older homeowners might want to consider.

For those that can’t qualify for a HECM or want something a little different, there’s also FAR’s proprietary EquityAvail option. Described as a “retirement mortgage,” it blends elements of a typical mortgage loan with a reverse mortgage, allowing borrowers to minimize their monthly housing costs as they age.

FAR also offers a home-sharing program called Silvernest. The program matches seniors with rent-paying housemates so they can earn income and put more money toward retirement goals. It can be used in tandem with FAR’s loan offerings.

© Provided by Money.com

Pros

  • Quick closing times for HECM for purchases
  • Hundreds of brick-and-mortar locations
  • Good customer reviews and an A+ BBB rating
  • Lots of educational resources and tools
  • Jumbo loans go down to age 55

Cons

  • Does not remain your servicer after closing
  • 55+ loans not available in all states

HIGHLIGHTS

ProductsHECM, HECM for purchase, jumbo loansLoan amountsUp to $4 millionStates servedAll 50 states, plus D.C.More infoFairwayReverse.com

Why we chose this company: Fairway Independent Mortgage (NMLS #1630898) is one of the most active mortgage lenders in the nation — particularly when it comes to HECM for purchase loans.

The company has focused a lot of its efforts on these loans in latest months, and thanks to its streamlined operations, it can close many in just 17 days. While the company’s overall average is 30 days, that’s still a far cry from the 45 to 90 days most lenders quote — and for seniors on a tight timeline, the quick funding might just be a game-changer.

The company also offers a solid array of online resources (including a reverse mortgage blog, an FAQ section and a reverse mortgage calculator), and on the interest rate front, Fairway’s rates fall somewhere in the middle. According to an analysis of HECMs issued March 2021 to March 2022, they’re not the lowest of the lenders on our list, but they’re certainly not the highest either.

© Provided by Money.com

Pros

  • Jumbo loans go down to age 55 and can be used to buy a home
  • Lots of online resources
  • Good customer reviews and an A+ BBB
  • Remains your servicer after closing
  • Price match guarantee

Cons

  • 55+ loans not available in all states
  • Only four brick-and-mortar locations for in-person appointments
  • Recent regulatory" rel="nofollow" target="_blank">https://www.nmlsconsumeraccess.org/EntityDetails.aspx/Artifact/Settlement.pdf?q=276270-367495">regulatory action regarding licensing in New York

HIGHLIGHTS

ProductsHECM, HECM for purchase, jumbo loansLoan amountsUp to $4 millionStates servedAll 50 states, plus D.C.More infoReverseFunding.com

Why we chose this company: Reverse Mortgage Funding (NMLS #1019941) is dedicated solely to reverse mortgage loans, and their loan options run the gamut. There are adjustable-rate and fixed-rate HECMs, HECMs for purchase and Equity Elite loans — a type of jumbo reverse mortgage that is available to borrowers as young as 55 in many states.

By volume, RMF was the No. 3 reverse mortgage lender in the country in 2021, and its interest rates are competitive, too. According to Department of Housing and Urban Development data from March 2021 to March 2022, the company has the third-lowest interest rate average on our list. Their price match certain is also notable. If another lender offers you a better pricing on a reverse mortgage, RMF will try to beat or match it. If they can’t, you’ll get a $1,000 gift card.

© Provided by Money.com

Pros

  • Online dashboard for getting and managing your loan
  • Dozens of brick-and-mortar locations
  • A+ BBB rating
  • Lots of online resources, videos and tools

Cons

  • No jumbo loans
  • No 55+ loans
  • Does not service Alaska or Hawaii

HIGHLIGHTS

ProductsHECM, HECM for purchaseLoan amountsUp to $970,800States served48 states, plus D.C. (not Alaska or Hawaii)More infoOpenMortgage.com, SmartReverse.com

Why we chose this company: If you’re looking for a more tech-driven reverse mortgage experience, Open Mortgage’s (NMLS #2975) Smart Reverse loan platform might be for you.

With Smart Reverse, you get all kinds of educational video content and can start your application process online. While you can’t complete the entire process there (HECMs require counseling through a HUD-approved agency), you can use the Smart Reverse platform to run through various loan scenarios and, after closing, manage your loan, connect with customer service or request funds from your line of credit.

According to our analysis of HUD data, Open Mortgage has higher average interest rates than some of the others on our list, though not the highest. Make sure you compare rates from at least a few different lenders to ensure you’re getting the best deal.

© Provided by Money.com

Pros

  • Great customer ratings and reviews
  • Informative website with lots of educational resources
  • Specializes in reverse mortgage lending

Cons

  • Charged with deceptive advertising practices by the CFPB
  • Does not service Massachusetts
  • Jumbo loans appear to be discontinued
  • No 55+ loans
  • No brick-and-mortar locations

HIGHLIGHTS

ProductsHECM, HECM for purchase, mortgage refinancingLoan amountsUp to HECM limitStates served49 states (not Massachusetts)More infoAAG.com

Why we chose this company: Customers are quite happy with American Advisors Group (NMLS #9392), the nation’s biggest reverse mortgage lender by volume. The company boasts a 4.5 on Trustpilot, with 84% of reviewers rating their experience either four or five stars. The lender also has a 4.6586 out of 5 stars on the Better Business Bureau.

The company offers both standard HECMs and HECMs for purchase, as well as refinancing options for seniors looking to tap their home equity or reduce their mortgage payments.

It’s worth noting that CFPB ordered AAG to pay over $1 million in penalties in 2021 for what the Bureau called “deceptive acts aimed at older homeowners.” The CFPB has more about these allegations on its website.

© Provided by Money.com

Other companies we considered

All Reverse Mortgage

All Reverse Mortgage (NMLS #13999) would have made our list, but its geographic service area — just 15 states — was too small. For consumers in the states it does service (California and Texas, to name a few), the company is worth a look. It offers a plethora of resources, and the company is family-owned and operated, so you’ll get top-notch service. It has a nearly perfect five-star rating with the BBB, too.

American Senior/HighTech Lending

American Senior (NMLS #7147), the reverse mortgage arm of HighTech Lending, might have made the list, but its lack of reviews on Trustpilot and the Better Business Bureau, small reach (just 21 states) and deceptive advertising charges held them back. The company has a variety of loan products, including a jumbo loan and HECM for purchase program.

Homebridge Financial Services

Homebridge (NMLS #6521) is a lender that offers reverse mortgages, as well as many other loan products, including purchase loans, refinances and home equity lines of credit (HELOCs). Though the company has strong reviews on Trustpilot (4.8 stars), it has a mere one star on the BBB and 84 complaints in the last three years. Their reverse mortgage content and resources were also thin compared to other options we considered.

Liberty Reverse Mortgage

Liberty Reverse Mortgage — also called Liberty Home Equity Solutions (NMLS #2726) — was the No. 9 reverse mortgage lender by volume in 2022. The company offers both HECMs and a proprietary jumbo reverse mortgage, which goes up to $4 million and is available for borrowers 55 and up Its main drawbacks are due its parent company — PHH Mortgage/Ocwen — which was recently sued by the state of Florida and has 17 regulatory actions against it, according to the NMLS database.

Nationwide Equities Corporation

Nationwide Equities Corp. (NMLS #1408) has solid reviews and a standout jumbo loan with a $6 million limit. Their small reach (just 16 states), plus 2021 allegations of deceptive advertising from the CFPB are what pushed the company out of the running.

One Reverse Mortgage

One Reverse Mortgage (NMLS #167283) used to be the reverse mortgage arm of Quicken Loans/Rocket Mortgage, but the company halted operations in early 2020. Previously, they were one of the top reverse mortgage lenders in the country by volume.

Quontic Bank FSB

Quontic Bank (NMLS #403503) has made many other lists of the best reverse mortgage lenders, but it appears the company has shifted focus. It no longer lists reverse mortgage products on its website, nor markets them for consumers.

Reverse Mortgage Guide

Reverse mortgages are complicated products. While they don’t require monthly payments, they are a debt — and they do need to be repaid at some point down the line.

Keep studying to better understand how reverse mortgages work and what one might mean for your finances.

What is a reverse mortgage?

A reverse mortgage is a type of loan for older homeowners — generally, those aged 62 and up (though some lenders allow down to 55). They allow borrowers to turn their home equity into cash. Typically borrowers use the money to supplement retirement income, cover the costs of aging-in-place improvements or home repairs or reduce their monthly housing expenses.

Unlike with traditional mortgage loans and equity products (like cash-out refinances and home equity loans), reverse mortgage holders don’t make monthly payments. Instead, the lender pays the borrower. Payment options include monthly disbursements, a lump sum payment upfront or a line of credit, which borrowers can withdraw from as needed. Borrowers can also choose a combination of these payouts.

You can take out a reverse mortgage on a single-family home, multi-unit property in which you live, townhome or condo (on HECMs, it just has to be an FHA-approved condo).

For more details read Money’s reverse mortgage guide.

Types of reverse mortgages

There are three types of reverse mortgages: Home Equity Conversion Mortgages (HECMs), proprietary reverse mortgages and single-purpose reverse mortgages.

Here’s how those differ:

  • HECMs: HECMs are reverse mortgages that are insured by the federal government — specifically the Federal Housing Administration — and issued by FHA-approved lenders. There are also HECMs for purchase — government-backed loans designed solely for purchasing a home versus leveraging the equity in one you already own. They typically require down payments between 29% and 63%.
  • Proprietary reverse mortgages: These are private mortgage loans that are unique to the lender offering them. Some lenders call them jumbo reverse mortgages, as they usually have higher limits than HECMs and can be used to cover high-value homes (up to $6 million in some cases). These are not government-backed, so they typically have higher interest rates.
  • Single-purpose reverse mortgages: The loan proceeds from single-purpose reverse mortgages can only be used toward one specific purpose — like covering home improvements or paying property taxes, for example. Single-purpose reverse mortgage programs are typically offered by nonprofit organizations, as well as state and local governments.

Reverse mortgages can also come with either an adjustable or fixed interest rate. With an adjustable rate, your interest rate can change over time. Fixed rate loans have a consistent rate for the entire loan term.

How does a reverse mortgage work?

A reverse mortgage essentially advances the money from your eventual home sale. The lender will provide you that advance via one large payment, many monthly payments or a line of credit.

You won’t need to make any principal or interest payments to your lender as long as you live in the home, but you will need to pay property taxes, homeowners insurance and HOA dues. To protect its investment, your lender will also require you to maintain the home and keep it in good condition.

Your loan won’t come due until you pass on, sell the home or move out of the home for at least 12 months — to an assisted living facility, for example. In the case of your passing, you may leave some reverse mortgage problems for your heirs. They would be responsible for repaying the lender out of your estate, or, if that’s not possible, via their own cash or by selling the property.

These loans are best for homeowners with lots of equity who plan to stay in their homes for a while and who have enough income to cover the costs of property taxes, insurance and home maintenance. They’re not ideal if you are struggling financially, think you may move out soon or want to keep your home in the family for generations to come. (It can sometimes be challenging for heirs to pay reverse mortgages off).

Reverse mortgage rules

Reverse mortgage qualifications vary by loan program and lender. If you’re opting for a HECM, you’ll need to meet HUD’s reverse mortgage age requirement of 62 and will also need to have a substantial amount of equity in your property. The home also needs to be your primary residence, you must complete HECM counseling, and you’ll need to stay current on your home insurance premiums and property taxes.

With proprietary loan programs — like those that go down to age 55 or offer loan amounts in the millions — qualifying standards may differ. You’ll need to check with the specific lender you’re considering for these requirements.

Selling a house with a reverse mortgage

Like other mortgages, a reverse mortgage uses your home as collateral. So when you sell the home, the loan comes due, and you must use the proceeds to pay off the balance. This is true whether you sell the house or your heir does after you pass.

HECMs and many proprietary mortgage loans have non-recourse clauses. This means that if you default on the loan, you won’t owe more than the sale price of the home.

How to get out of a reverse mortgage

With most reverse mortgage loans, you have what’s called a right of rescission. Legally, this means you have up to three business days after closing to cancel a reverse mortgage and get your money back, including closing costs. You’ll have to notify your lender in writing if you plan to cancel, so make sure to send it via certified mail. This will alert you once it’s been received. (Note: There is no right of rescission with HECM for purchase loans unless your state specifically offers it.)

You can also get out of a reverse mortgage by refinancing — either into a new reverse mortgage loan or into a conventional loan. Follow these mortgage refinance steps if this is a strategy you’re considering.

How to choose a reverse mortgage lender

Choosing the right reverse mortgage lender is critical, so be sure to shop around and consider at least a few options before moving forward.

When choosing a mortgage lender, you should:

  • Know what you need. Have a good grasp on why you want a reverse mortgage. Is it for a specific purpose, like repairing your house or buying a new home? Or do you need extra cash flow each month to support yourself in retirement? This can point you toward the right type of reverse mortgage loan — and lender — for your goals.
  • Get quotes from different lenders. Reverse mortgage companies can differ quite a bit in pricing and in product variety, so it’s important to get quotes from several to ensure you’re getting the best deal.
  • Compare rates and fees. Go through the loan estimate from each lender and compare them line by line. Pay particular attention to the interest rate and any origination fees, closing costs, servicing fees or mortgage insurance premiums.
  • Check for regulatory actions and lawsuits against the company. Search for any lenders you’re considering in the NMLS database. Once you pull up a lender, scroll to the very bottom of the company’s profile page and look for any regulatory actions against the lender. You should also search the CFPB’s website for any latest enforcement actions that might involve the company.
  • Read customer reviews and ratings. The Better Business Bureau and Trustpilot are great ways to gauge customer sentiment about a company. On the BBB’s site, you can check their overall rating, read complaints and even see company responses. Trustpilot can provide you a glimpse into what borrowers liked or did not like during their experience with a lender.

You should also be wary of aggressive sales tactics. Heed these tips for avoiding reverse mortgage scams, and if something feels off or suspicious, consider reporting the lender to the Federal Trade Commission or your state’s attorney general’s office.

Reverse mortgage pros and cons

Reverse mortgages can be a handy product in retirement, but they have some notable drawbacks. Here’s a look at both the good and bad for these unique mortgage products.

Pros of reverse mortgages:

  • They can increase cash flow: Reverse mortgages don’t require monthly mortgage payments, like traditional loans. This can free up cash flow and ease financial pressure.
  • They can supplement your income: Social Security only goes so far. With a reverse mortgage, you can get additional income to support your needs in retirement.
  • They’re tax-free: Reverse mortgage proceeds might feel like income, but they’re not taxed as such. The IRS considers them loan proceeds instead.
  • They come with protection: Reverse mortgages are non-recourse loans, meaning you’ll never owe more than your home’s worth.

Cons of reverse mortgages:

  • There are closing costs: You’ll need upfront cash to cover the costs to originate your reverse mortgage. Financing them is an option, but this means more debt and more long-term interest costs (not to mention, fewer proceeds for you).
  • They put your home at risk: When you have a reverse mortgage, you’re required to keep up with property taxes, home insurance and HOA dues. If you don’t, your lender could foreclose on the house.
  • They could impact your eligibility for other benefits: If you’re on Medicaid or Supplemental Security Income, taking on a reverse mortgage loan could make you ineligible. Talk to an attorney if you’re concerned your benefits may be impacted.
  • They complicate things for your heirs: If you pass on, your heirs will be left to settle up the balance on your reverse mortgage. If they don’t have the cash to do it, that means selling your house (even if it’s been in the family for decades).

As you can see, reverse mortgages have risks. If you’re not sure one is right for your scenario, talk to a financial professional for personalized guidance. They can help you determine the best way to achieve your retirement goals.

Latest News in Reverse Mortgages and Mortgage Lending

  • Mortgage rate volatility has been high in latest months. Make sure to shop around for your reverse mortgage, as rates can differ significantly from one company to the next.
  • The Department of Housing and Urban Development raised the HECM limits — the maximum loan amount borrowers can receive — to $970,800 in 2022. That’s up from $822,375 in 2021 and $765,600 in 2020.
  • Only about 2% of the mortgage-related complaints the CFPB has received in 2022 (through Nov. 9) involved reverse mortgages.

Reverse Mortgage FAQ

Reverse mortgages can be confusing, so if you have questions, you’re not alone. We’ve rounded up some of the most common questions regarding reverse mortgages below. You can also check out our guide to reverse mortgage pros and cons for more information.

Is a reverse mortgage a ripoff?

Reverse mortgage scams are out there, but they're not the norm. As long as you understand how these loans work, choose an experienced and vetted mortgage company and use a reverse mortgage calculator to gauge the costs and financial repercussions, a reverse mortgage can be a useful tool for many homeowners. The federal government has also taken steps to protect reverse mortgage borrowers in latest years. In 2021, the CFPB took action against at least two lenders for misleading advertising practices, and HUD also provided extra protections for non-borrowing spouses.

What is the downside of a reverse mortgage?

The biggest downside of a reverse mortgage is that it puts your home at risk of foreclosure if you don't keep up with property taxes, insurance, HOA dues or home maintenance. Your heirs also stand to inherit less with a reverse mortgage, and there are many costs to consider, too -- including interest, mortgage insurance, servicing fees and more. Reverse mortgages can also impact your eligibility for Medicaid and Supplemental Security Income (SSI) -- though not Medicare or traditional Social Security benefits.

How does a reverse mortgage work when you die?

A reverse mortgage comes due when you pass on. This means your heirs will either need to pay off the loan out of pocket, through your estate or by selling the home and using the proceeds from the sale. They usually have 30 days to settle up with the lender, though they may be able to file for an extension of up to one year.

How much money do you get from a reverse mortgage?

The amount of money you can get from a reverse mortgage depends on the value of the home and type of loan you get. With a HECM, you can get up to $970,800 as of 2022 (this changes annually). If you opt for a proprietary reverse mortgage, the limits range from $3 million to $6 million depending on the lender. Your credit score, the amount of home equity you have, any existing mortgage balance on the property and the appraised value of your home will also play a role.

Does LendingTree offer reverse mortgages?

LendingTree is a mortgage marketplace and does not actually issue any loans. While you can use the website for reverse mortgage quotes, you'll need to go through the individual lenders to apply and finalize the process. You can also use LendingTree to finance other real estate purchases or to shop for home equity loans.

How do you pay back a reverse mortgage?

You pay back a reverse mortgage out of pocket, by selling your home or refinancing the mortgage into a traditional mortgage loan. You may also opt to provide the lender the deed to your property. This is typically an option if you're facing foreclosure.

Remember: Repayment isn't required until you live outside the home for at least 12 months, pass away or stop making your property tax and insurance premium payments.

How We Evaluated the Best Reverse Mortgage Companies

When evaluating reverse mortgage lenders, we considered a variety of factors, including:

  • Products offered: We looked for companies with a variety of loan options, including fixed- and adjustable-rate loans, jumbo loans and loans for homeowners under age 62.
  • Customer reviews: We favored lenders with strong customer ratings and few complaints.
  • Regulatory actions: We favored companies with few regulatory actions against them — particularly actions that pertain to customer service and sales/advertising practices.
  • Geographic accessibility: We considered the geographic reach of companies and favored those that serviced the most U.S. states and territories.
  • Online presence: We looked for lenders with robust web presences that inform and engage potential reverse mortgage borrowers.

Some of the resources we used when determining our best reverse mortgage lenders included:

Summary of Money’s Best Reverse Mortgage Company Reviews

The best reverse mortgage company depends on your goals as a borrower, the type of loan and loan amount you need and what kind of service you’re looking for. While our guide is a good starting point for researching lenders, it’s important to compare at least a few different companies when getting quotes. This will ensure you get the best possible rate and terms for your needs.

If a reverse mortgage is not the best option for you, also consider Money’s picks for the best mortgage lenders and best mortgage refinance companies.

COMPANY BEST FOR LOAN TYPES
Longbridge Financial Low interest rates HECM, HECM for purchase, jumbo loans up to $4 million
Finance of America Reverse Product variety HECM, HECM for purchase, jumbo loans up to $4 million, retirement mortgages, home-sharing
Fairway Independent Mortgage Homebuyers HECM, HECM for purchase, jumbo loans up to $4 million
Reverse Mortgage Funding 55+ HECM, HECM for purchase, jumbo loans up to $4 million
Open Mortgage Tech-savvy borrowers HECM, HECM for purchase
American Advisors Group Customer service HECM, HECM for purchase, refinancing

© Copyright 2022 Money Group, LLC. All Rights Reserved.

This article originally appeared on Money.com and may contain affiliate links for which Money receives compensation. Opinions expressed in this article are the author's alone, not those of a third-party entity, and have not been reviewed, approved, or otherwise endorsed. Offers may be subject to change without notice. For more information, read Money’s full disclaimer.

Wed, 07 Dec 2022 08:02:22 -0600 en-US text/html https://www.msn.com/en-us/money/realestate/best-reverse-mortgage-companies-of-2022-money/ar-AA151yMa
Killexams : Certified Advisory Corp of Certified Financial Group Debuts on the CNBC Financial Advisor 100 List

Central Florida based firm joins prestigious list of top advisors

ALTAMONTE SPRINGS, Fla., Dec. 5, 2022 /PRNewswire-PRWeb/ -- Certified Advisory Corp of Certified Financial Group, Inc. is proud to announce their inclusion on the CNBC Financial Advisor 100, a list of the top 100 Financial Advisor Firms in the United States for 2022. The team at Certified Financial Group is honored to join the rankings of this esteemed list based on their credentials and years in business as trusted CERTIFIED FINANCIAL PLANNER™ professionals.

This is CNBC's fourth year ranking the FA 100 from AccuPoint Solutions' list of over 39,000 RIA's. A variety of data is considered including years in business, number of Certified Financial Planner™ professionals, total assets and accounts under management, and more.

"We know the real measure of our success is defined by the trust and support that our loyal clients, many of whom have been with us for decades, bestow upon us each day," said Joe Bert, CFP® AIF® and Founder of Certified Financial Group. "Our entire staff is like family, and together we are proud to receive this recognition from such a distinguished source for work we feel truly humbled and privileged to do each day."

In addition to being included on this list, Certified Advisory Corp successfully completed its CEFEX certification renewal. This certification demonstrates adherence to the standards of fiduciary excellence in investment management, governance and operational processes. This distinction has been awarded to fewer than 1% of advisory firms nationally.

With roots dating back to 1976 and 16 CERTIFIED FINANCIAL PLANNER™ professionals under the same roof, Certified Financial Group is one of the oldest and largest independent financial planning firms in Central Florida. With more than 400 years of combined experience, each of their CFP® professionals are trained in all areas of financial planning to include investment planning, Social Security planning, retirement planning, estate planning, and 401(k) services.

The full FA 100 List including Certified Advisory Corp is available on CNBC's website: https://www.cnbc.com/2022/10/04/fa-100-cnbc-ranks-the-top-rated-financial-advisory-firms-of-2022.html

Disclosures: Certified Advisory Corp offers Retirement Planning and Wealth Management for a fee. Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Media Contact

Kim Touchton, Certified Financial Group, 1 407-869-9800, KimT@financialgroup.com

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SOURCE Certified Financial Group

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Mon, 05 Dec 2022 00:34:00 -0600 text/html https://www.benzinga.com/pressreleases/22/12/n29957402/certified-advisory-corp-of-certified-financial-group-debuts-on-the-cnbc-financial-advisor-100-list
Killexams : CFPB Targets Financial Services Company for Deceptive Advertising

Thursday, December 8, 2022

On December 1, the CFPB and a financial services company filed a stipulated proposed court order seeking the resolution of a CFPB suit alleging that the financial services company made false, misleading, and inaccurate marketing representations to consumers regarding its “high yield” savings account offering. In its original complaint, the CFPB alleged that the financial services company engaged in four separate false representations to consumers in violation of the CFPA:

  • that consumer deposits would be used to originate loans for healthcare professionals and that it would have investors lined up to purchase the loans before making them, when in fact, it never used deposits to originate loans and never contracted with any investors to purchase loans.

  • that consumer deposits would be held in an FDIC-insured account when not being used to originate loans, when in fact, deposits were invested in actively traded securities, crypto assets, or loaned to investors using individual stock portfolios as collateral.

  • that it was a commercial bank and its high yield savings account was akin to a traditional savings account, when in fact, it was not a commercial bank and it invested consumer deposits in highly volatile securities.

  • that its high yield savings accounts paid interest rates between 5 and 6.25 percent in the years prior to 2019, when in fact, it did not even begin taking consumer deposits August 2019.

The proposed settlement sets forth the following agreed upon actions that the financial services company will take: (i) refund approximately $19 million to approximately 400 affected depositors, (ii) permanently refrain from engaging or assisting others in any deposit taking activities, and (iii) pay a $391,530 fine to the CFPB, a portion of which will be remitted due to the financial services company having already paid a penalty to the SEC as a result of a similar action.

Putting it into Practice: This CFPB action makes clear that enforcing penalties against consumer-facing finance companies engaging in false advertising remains a high priority for federal consumer protection agencies (see previous blog post here). This action also reinforces latest agency crackdowns on dark patterns, junk fees, and similarly deceptive practices (see previous blog posts here and here). Financial services companies that market to consumers should therefore review the complaint and continually ensure that their representations to consumers regarding product offerings and services are accurate and clear.

Copyright © 2022, Sheppard Mullin Richter & Hampton LLP.National Law Review, Volume XII, Number 342

Wed, 07 Dec 2022 10:00:00 -0600 en text/html https://www.natlawreview.com/article/cfpb-targets-financial-services-company-deceptive-advertising
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