Bay Harbor Wealth Management

07/05/2023

We are excited to share that Lance Scott was recently named on not one, but TWO wealth management industry ranking lists for 2023!

These lists are among a short list of industry rankings that our firm holds in high regard, and we’re proud to be associated with them through their recognition of Lance and our team this year.

1) Forbes 2023 Best-In-State Wealth Advisors List

2) AdvisorHub’s 2023 Advisors to Watch, on their 200 Fast Growing Advisors to Watch List

Details on these rankings are below. These accolades reflect the outstanding efforts and expertise of the entire BHWM team, whose knowledge, continuous professional development, and tireless dedication to client success play a pivotal role in these achievements.

1) Forbes 2023 Best-In-State Wealth Advisors List
The Forbes ranking of America’s Top Wealth Advisors and Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria learned through telephone, virtual and in-person due diligence interviews, and quantitative data such as revenue trends and assets under management. The algorithm additionally weighs factors such as service models, compliance records and industry experience, and focuses on those that encompass best practices in their approach to working with clients. All advisors that are considered have a minimum of seven years experience. Portfolio performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor SHOOK receive a fee in exchange for rankings. Data provided by SHOOK® Research, LLC — Data as of 6/30/22. Full methodology: https://www.forbes.com/sites/rjshook/2023/04/04/methodology-americas-top-wealth-advisors-2023/?sh=765240074a93

2) AdvisorHub’s 2023 Advisors to Watch, on their 200 Fast Growing Advisors to Watch List
Participation is open to all firms and advisors. Nominees are required to have a minimum of seven years experience, $100m minimum AUM, and a clean regulatory record.
Participation in this ranking is free, and AdvisorHub receives no compensation from the participating advisors. Using data on assets, households, and production, advisors are ranked on three categories: scale, growth, and professionalism.
Based on year-end data for 2021 & 2022.
Full methodology: https://www.advisorhub.com/resources/growing-through-adversity/

04/09/2021

The latest IRS tax deadline extensions include a new deadline of May 17, 2021 to make 2020 contributions to your individual retirement accounts.

FYI - For 2020 and 2021, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:
- $6,000 ($7,000 if you're age 50 or older), or
- If less, your taxable compensation for the year

The IRA contribution limit does not apply to:
- Rollover contributions
- Qualified reservist repayments

You can visit IRS.gov for more details on all of the latest tax deadline extensions as well as more detailed information on IRA contribution limits.

07/23/2020

Our President, Lance R. Scott, AIF®, shares his thoughts in this Forbes.com article, "13 Things To Discuss With Your Financial Advisor (Besides Your Retirement Date)".

https://www.forbes.com/sites/forbesfinancecouncil/2020/07/01/13-things-to-discuss-with-your-financial-advisor-besides-your-retirement-date/

07/14/2020

Here's how to control recession-triggered fear, so you can help potentially protect what you have.

07/07/2020

When recessions trigger fear & panic, here's how to manage your emotions & investments.

06/30/2020

What you do in a recession can make ALL the difference in how you get through it.

06/23/2020

If you know what to do during a recession, you can avoid common & costly mistakes.

01/28/2020

"U.S. equity markets have experienced downbeat trade recently as investors keep watch of a deadly influenza outbreak in China.

However, gauged by the market’s performance during the onset of other infectious diseases, including SARS, or severe acute respiratory syndrome, Ebola and avian flu, Wall Street investors may have little to fear that this disease will sicken a U.S. stock market that finished 2019 with the best annual return in years and has kicked off 2020 at or near all-time highs."
- MarketWatch

Read more of MarketWatch's analysis of the current Coronavirus situation and its effect on Wall Street:

U.S. equity markets have experienced downbeat trade this past week as investors keep one eye trained on a deadly flu outbreak in China.

01/09/2020

Your kids learn their money values from you. Share your wisdom with these…

01/02/2020

There are a lot of ways to open up a dialogue about money and keep it going.