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Level Acquires Angelucci Wealth Management

Michael Angelucci

PRESS RELEASE Level Financial Advisors announced today the acquisition of Angelucci Wealth Management, LLC, effective January 1, 2019.  The firm’s principle, Michael Angelucci, CFP®, MBA will join Level’s team of advisors in the New Year. Angelucci opened his Williamsville-based wealth management business in 2007, providing financial planning and fee-only investment management services to 120 clients.  The firm carries $25M in assets under management and another $90M in assets under financial advisement.  Angelucci will continue to service these clients from Level’s offices on Sweet Home Road in Amherst. “We are extremely excited to have Mike join our team,” said Level’s chief operating officer Michael Heburn. “First and foremost, he’s a great cultural fit for our company and our clients.  But just as important, Mike shares our philosophy on financial planning and doing what’s in the best interest of our clients, making him a natural fit for our growing firm.” Angelucci has a Bachelor of Arts...

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5 Ways to Take Advantage of the Recent Downturn

The S&P 500 is down roughly 15% from its recent highs and the NASDAQ is down even more.  This has caused many investors to be concerned about their financial future and wonder what can be done. For most people, the prudent thing to do is to stick with their investment plan and not let fear drive themselves to make major shifts in their strategy during extremely volatile times.  Significant evidence shows that investors have been terrible at timing the market (see the annual Dalbar Quantitative Analysis of Investor Behavior studies ) and that doesn’t even mention the emotional roller coaster that comes with that form of speculation. With that said, there are several things you can do to take advantage of lower stock prices. These strategies involve taking a long term view of investing (think 5+ years) and remaining disciplined in sticking with your financial plan.  Here are the ways to take...

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What’s Happening?

The world’s stock markets have been very volatile in the 4th quarter as investors become more concerned that a trade war will break out between the US and China.  The 90-day truce called at the recent G20 meeting was followed by tweets from the President that seemed to indicate he was still committed to tariffs.  That was followed by the arrest of the CFO of Huawei, a Chinese tech company that makes smartphones and telecommunications equipment.  All of which stokes greater concern that the trade war may continue.  The US and China are the two largest economies in the world, so a trade war between the two could have ripple effects throughout the global economy.  It remains to be seen whether this is simply posturing before a trade deal is made or something with longer term effects. Meanwhile, this has caused the stock market indices to decline significantly from their highs...

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Build Your Own Tax Cut for 2018

Build your own tax cuts in 2018

The federal income tax cuts that were approved last year contained only modest decreases for average American taxpayers. You can work on your own tax cut for this year by taking some easy steps before the end of December. Here are some suggestions: Max out on your employer retirement plan contribution: You can ask your employer at any time to temporarily increase your contribution. If your regular payroll withholding is not at the maximum level, consider asking for a larger deduction for the rest of the year. Every dollar you put away reduces your 2018 income tax bill. If possible, contribute the maximum. On a 401k plan, you can contribute up to $18,500 this year. If you are age 50 or older, the maximum is $24,500. No 401k? Max the IRA: If you don’t have an employer plan and you qualify for a tax-deductible IRA contribution, try to make the...

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Some States Tax Pre-College 529 Plan Withdrawals

Federal tax law changes made last year now allow state-sponsored college savings plan owners to withdraw money tax-free to pay for up to $10,000 in kindergarten through 12th-grade educational expenses each year. Previously only withdrawals for college education were tax-free. However, not all states allow these withdrawals. Some 20 states will allow you to make the withdrawals tax-free (see the list here). But many other states not only will tax the earnings on these withdrawals, but will seek to recover the value of tax deductions gained when contributions were made. New York is one of the largest states to tax pre-college 529 plan withdrawals. Its college savings plan recently announced that “it appears that K-12 distributions would not be considered qualified distributions under New York statutes and would require the recapture of any New York State tax benefits that accrued on contributions.” Another large state – California – said it would also levy...

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Steven Elwell Talks Advisor Shortages on Schwab Panel

Sitting on a panel of experts that included Charles Schwab's head of Advisor Services, Bernie Clark,  Steven Elwell, CFP® discussed the looming shortage of advisors in the financial services industry.  The panel took place at Schwab's Impact® 2018 annual conference, which attracts over 5,000 advisors, vendors and financial services experts.  Financial Planning Magazine reported on the discussion in this story: Click Here...

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If you missed either of the first two parts of this three part series on tax-efficient giving strategies, check them out here:  Part 1  Part 2 As mentioned in the first two parts of this series, recent tax reform is significantly reducing the number of people who will recognize a tax benefit when making charitable contributions in 2018 and beyond.  This is because many people will find that the now-higher standard deduction will be greater than the sum of their now-limited itemized deductions.  If this sounds like you, keep reading to learn how a donor advised fund may help you recognize a tax benefit when giving to your favorite charity. A donor advised fund account is a simple, tax-smart investment solution for charitable giving.  Despite its name, it’s not something that only those featured on “Lifestyles of the Rich and Famous” have access to.  This is a tool that middle class America...

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Dow drops 1,400 points in two days? Ho-hum

The stock market plunges over two days! Volatility ripples around the world! Do rising interest rates signal the end of bull market? Pardon me if I yawn. After 20 years in the investment business and 14 years as a financial reporter at a daily newspaper I get bored with breathless news reports of impending catastrophe every time the stock market has a normal and expected hiccup.  I’m sorry, but a 1,400-point decline in the Dow Jones Industrial Average just doesn’t get my blood flowing anymore. This week’s decline in stocks shouldn’t be upsetting to an experienced, focused investor. One reason is that 1,000 Dow points ain’t what they used to be, because the index has reached almost 27,000 in the past year. The higher it gets, the less 1,000 points means in percentage terms. This week’s drop amounted to a 5.2% decline. Compare that to a real decline, like the Oct. 19, 1987...

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