financial trust
an investment product can be set up under a trust ownership
a trust is a fiduciary arrangement that allows a third party, or trustee to hold assets on behalf of beneficiary
| Term | Definition |
|---|---|
financial trust | an investment product can be set up under a trust ownership
a trust is a fiduciary arrangement that allows a third party, or trustee to hold assets on behalf of beneficiary |
service net | an app within vision2020 and is how the office communicates changes to the back office (royal alliance) |
path | the navigation steps within our file management to locate items in the shared drive |
prospects | these are potential clients |
qualified | accounts that are funded with pre-tax dollars
these are qualified account examples: IRA, ROTH IRA, SEP IRA, SIMPLE IRA |
non qualified | accounts that are funded with after tax dollars
these are non qualified account examples: individual, transfer on death, trust |
advisory | indicates that an account that has an annual fee which charged quarterly |
risk tolerance | is the degree of varibility in investment returns that an investor is willing to withstand in their financial planning |
contribution | is the amount of money a client will contribute to a fund |
distribution | is a withdraw of funds to a client or the clients designation |
investment holding | are the accounts that the client has |
net worth | is the dollar amount of assets someone holds minus all their debts |
cash flow | is a financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company |
income tax | tax levied by a government directly on income, especially an annual tax on personal income |
retirement | the action or fact of leaving ones job and ceasing to work |
estate planning | is the preparation of tasks that serve to manage an individual's asset base of the event or their incapacitation or death |
illiquid assets | state of stock, bond, or other assets that cannot be easily and readily be sold or exchanged for cash |
liquid assets | state of stock, bond, or other assets that can be easily and readily sold or exchanged for cash |
tickers | or symbol of arranged characters, usually letters, representing particular securities listed on or exchange, or otherwise traded publicly |