Blog

“Timely” Deposit of Participant Contributions

What is considered “timely” for participant contributions to be removed from payroll and sent to their directed investments? The DOL guidance indicates no later than the 15th of the month following the current pay date. This issue is...

Not Having an Investment Policy Statement (IPS)

While ERISA law does not require a written Investment Policy Statement (IPS), it is generally considered to be an important plan document. In the event of audit or litigation, the plan fiduciary(ies) will likely be asked to identify...

Controlled Group and Affiliated Service Group Checklist

Please see the below link for the Controlled Group and Affiliated Service Group (ASG) Checklist.

2024 Compliance Calendar

Please see the below link for a printable compliance calendar for Defined Contribution (DC) and Defined Benefit (DB) plans.  Defined Contribution (DC) and Defined Benefit (DB) Annual Compliance for a Calendar Year Plan

2024 Retirement Plan Limits

IRS Limits on Retirement Benefits and Compensation As published in IRS News Release IR-2023-203, Nov. 1, 2023 2024 Retirement Plan Limits

11/10 Market View Weekly

We strive to keep you regularly updated with important market changes and news. Please find this week’s Market View Weekly from Phil Blancato, Osaic’s Chief Market Strategist attached below. This commentary provides...

Student of the Market from BlackRock

Click the link to listen to BlackRock's market update: https://www.blackrock.com/us/financial-professionals/insights/student-of-the-market

Your Monthly Market Newsletter, August 2023

Despite persistent and lingering heat and humidity in most parts of the country, the bulls kept running in July, with both the economy and stocks proving quite resilient despite rising interest rates. In their ongoing efforts to...

HERMITAGE WEALTH MANAGEMENT BRINGS ALLISON FRANCISCO ABOARD AS RETIREMENT PLAN RELATIONSHIP MANAGER

Hermitage Wealth Management, a financial planning firm announced the successful recruitment of Allison Francisco of Richmond, VA., with over 7 years’ experience as a third-party administrator in the retirement plan industry.

July 2023: Your Money Matters

This month’s Your Money Matters newsletter contains great tips for revising how you view your bucket list, new tax rules to know when selling your home, info on why portfolio rebalancing is so important, and considerations when...

Hermitage Wealth Management: Among Central Virginia's Best Financial Planning Firms

Hermitage Wealth Management, Inc. was voted by Virginia Living as one of the Best Financial Planning Firms in Central Virginia.

Video: Q2 Quarterly Market Review

Listen to our recent Market Update event featuring guest speakers Deron McCoy and Matthew Kim from Signature Investment Advisors.

Weekly Market Insights: Debt Talks Optimism Keeps Eyes on D.C.

Markets moved in sync last week with perceived movement in debt ceiling talks, weakening early in the week and then surging on news of progress. A solid quarterly report and guidance from a mega-cap technology company helped with...

Weekly Market Insights: Stocks Rally As Attention Shifts to Fed's May Meeting

Strong earnings from several mega-cap technology companies offset renewed regional banking jitters and weak economic data, leaving stocks higher for the week.The Dow Jones Industrial Average gained 0.86%, while the Standard &...

3/24 Market View Weekly

We strive to keep you regularly updated with important market changes and news.Please find this week’s Market View Weekly from Phil Blancato, Advisor Group’s Chief Market Strategist attached below. This commentary provides...

Your Monthly Market Newsletter, February 2023

Welcome to February, where the weather is traditionally cold and grey (a seemingly appropriate reflection of investor sentiment after surviving the market turbulence of 2022). Continuing the pattern, January was another roller...

12/31 Market View Weekly: By the Numbers

Stocks End Lower  Steps by China to move past its zero-Covid policies triggered concerns that its economic reopening might aggravate inflation pressures, sending stocks lower and bond yields higher to begin the week. Technology...

November Edu(k)ation: Understanding Medicare - recording!

Please find a recorded session for your convenience HERE.

Helpful Info About Midterm Elections & Market Performance

It is hard to believe we are in the midst of yet another election cycle. With inflation soaring, economic growth slowing, and extremely choppy markets, midterm elections seem like an afterthought. But on Tuesday, November 8th, 435...

October Edu(k)ation - Guide to the Markets - Recording

Please find the recorded session link herein

Video: Q3 Market Review

Video: Quarterly Market Review

On May 17th, Cory Hoffer of Hermitage Wealth and Elizabeth Dooley of City National Rochdale discussed the current trends that investors face.

5 Facts to Remember During Market Volatility

February Edu(k)ation Workshop - Medicare Insurance

Are Capital Gains Taxes Changing?

There are a lot of questions about President Biden’s Build Back Better plan and potential tax law changes, including an adjustment to capital gains taxes.One of the proposals Congress is considering sets the top rate for taxing...

The Underutilized Benefits of a Health Savings Account

Healthcare can be one of the priciest yet essential parts of life’s journey. And yet, many struggle to utilize the financial tools that may help. Take Health Saving Accounts (HSAs), for example.In 2019, 55% of those with HSAs...

Distracted America

Over the last year, many have seen their lives impacted by the COVID-19 pandemic. The ways in which we work, live, and communicate have drastically changed, to say the least.It’s difficult to predict what other aspects of life...

Do You Qualify for the Child Tax Credit?

There are no two ways around it: childcare is expensive! In many cities, it can cost nearly as much as the mortgage or rent payment, which puts parents in a Catch-22: they have to work to afford childcare, but they need childcare in...

Not all Debt is Created Equal

When meeting with clients to determine the most efficient ways to maximize retirement savings, it’s not unusual for me to come across debt in a portfolio which prompts the million dollar client question, “Is it better to...

A Note About Inflation

As the economy continues to recover from the effects of the pandemic over the past year, you may have noticed the term ‘inflation’ coming up in the news. But don’t let it scare you! The fact is, some inflation is...

Ways to Put Your Tax Refund to Work

Saving money is a bit like eating healthy, you know you should eat your veggies but it’s hard to resist indulging in something a bit more fun. Like making healthy choices, a tax refund can present the opportunity to splurge but,...

Don’t Let Unexpected Expenses Derail Your Retirement

While it’s natural to look ahead to a leisurely retirement, it’s prudent to prepare for expenses that catch many retirees by surprise. In a recent survey, nearly one-third of retirees reported they faced at least four...

Cashflow for the Kiddos!

We always hope our clients feel confident discussing money with their families. The truth is, talking about money can be uncomfortable! Where do you begin? What’s the right age? The good news is, it’s never too early to...

Weekly Market Insights: Fed Chair Says No Change For Now

Stock prices inched higher last week amid declining COVID-19 cases, a pick-up in vaccinations, and progress on a fiscal relief bill.The Dow Jones Industrial Average gained 1.00%, while the Standard & Poor’s 500 rose 1.23%....

Happy Anniversary to Jan!

On February 8th we celebrated Jan White's 10th anniversary with Heritage Wealth Management. Jan is a pleasure to work with and we are so appreciative of all her hard work. Thank you for all you do, Jan!

2021 Tips for Cyber Security

As we’ve seen, data breaches, such as the Russian-based SolarWinds attack that was announced late last year, can have major impact on online security. In light of these recent data breaches, we wanted to send along some tips to...

Financial resolutions that are actually attainable.

We wish you a very happy new year! As we close in on year-end, a common topic of conversation amongst friends and family is what resolutions they vow to make in the new year. One of the top kind of resolutions deal with finances in...

The Holidays are Upon Us - Plan Ahead!

As the leaves fall and the sweaters come out, autumn is typically the time of year when many are feeling the financial effects of vacation-packed summers. This year there’s likely an additional element impacting you...

October Market Matters

Despite a shift in focus towards the fast-approaching presidential election, vaccine development remains a source of good news. Moderna – one of the leading COVID-19 vaccine developers – stated that it will not enforce...

Market update and other ways we can help

Vaccine development continues to a be a source for good news in the fight against COVID-19. AstraZeneca announced its vaccine candidate entered the final stage of testing in the US, while Moderna, Pfizer and BioNTech have vaccine...

J. Cory Hoffer Named 2020 Financial Times 401 Top Retirement Advisers

Hermitage Wealth Management is pleased to announce that J. Cory Hoffer has been named as of the 2020 Financial Times 401 Top Retirement Advisers (FT 401). The FT 401 aims to provide a list of professionals who specialize in advising...

Storing Your 4 Most Important Personal Documents

There are a few important documents that are imperative to know where they are at all times and ensure they are protected from theft and in case of emergency. Often times, these documents can be difficult to find when needed most, so...

Advisor Group and Ladenburg Thalmann Merger

ADVISOR GROUP ANNOUNCES COMPLETION OF MERGER WITH LADENBURG THALMANN FINANCIAL SERVICES TO CREATE INDUSTRY’S LARGEST NETWORK OF WEALTH MANAGEMENT FIRMS Transaction Expands Advisor Group’s Industry Leadership, with...

Growing Team

We are excited to announce that Adam Hall and Patrick Toohers have joined our team.

Wedding Celebration

“On Friday May 10th, one of our financial advisors, Russell Munn and his now wife Danielle Orlandi got married. We are so happy for these two and wish them years of wealth and happiness!”

9 Facts About Social Security

Tip: How Much? Check your Social Security earnings and see an estimate of your benefits on the website, www.ssa.gov. Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know how...