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Equifax Data Breach – Suggested Next Steps

By Blog
There is much we still don’t know about the massive data breach that occurred at Equifax, one of the three credit reporting bureaus. As of now, it appears that over half of the adult population of the United States – about 143 million people – had their personal identification information stolen. This data could include social security numbers, names, addresses and dates of birth. In other words, all that a fraudster would need to impersonate you and open new accounts, credit cards, etc. Other information like credit card numbers and drivers licenses also seems to have been stolen from a…
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tax law changes

Tax Reform Proposals at a Glance

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The White House unveiled its highly anticipated tax plan yesterday. As expected, the plan proposes steep tax cuts across the board. Most of the items discussed are in line with Trump’s initial plan, and with the Blueprint proposed by Ways and Means Republicans last summer. Although the final law will look different than these initial proposals, some sort of tax reduction is almost certain given Republican control over Congress. It remains to be seen how steep the cuts will go and for how long they will last. While Treasury Secretary Steve Mnuchin vows that the plan will be financed by…
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cybersecurity

Identity Theft Prevention & Cybersecurity Best Practices

By and Blog
Years ago, careful watch over your wallet and important documents was sufficient protection against identity theft and fraud. Unfortunately, those days are long gone, as such theft is growing exponentially, and cybersecurity breaches impact millions of people each year. Each individual must take action in order to keep his or her information safe. It is a mistake to assume that the safeguards your financial institutions (banks, credit cards, financial advisor, etc.) have in place are all that is needed to protect you. Please note that this post is about preventative measures. If you have already been hacked, we recommend following…
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fiduciary

John Oliver & The Fiduciary Standard

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In his most recent episode, John Oliver did a great job uncovering several issues that plan sponsors and participants might find in their 401k plan.  We are proud to say our approach to advising retirement plans addresses all of these issues: Fiduciary– Many “financial advisors” do not act as a fiduciary to their clients, meaning they can act in a sales-like capacity (broker) rather than acting in their clients’ best interests.  Simply put – find someone who, both in practice and by law, must act in your best interest.  Sontag Advisory acts as a 3(38) ERISA fiduciary to our corporate retirement plan clients,…
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