For many families, gifting assets to children or grandchildren is an important part of long‑term financial planning. While annual cash gifts can be made, beneficiaries may use them immediately. Alternatively, trusts can be funded to provide oversight and protection, but gift and estate taxes can make those transfers more costly than expected. Fortunately, there is…
For many homeowners, a mortgage is viewed as a necessary step in buying or refinancing a home. But when approached thoughtfully, it can also play a meaningful role in your broader financial strategy. At WSFS Private Banking, clients may be *eligible for discounted mortgage interest rates by establishing a new wealth management relationship. This opportunity…
Estate planning for a loved one with special needs requires thoughtful consideration and specialized tools to ensure long‑term financial protection and continued access to essential state and federal benefits. In the past, families often left assets to another sibling with the understanding they would manage funds on behalf of the family member. Today, there are…
More than 11,000 Americans reach age 65 every day according to Social Security Administration,1 continuing the “Silver Tsunami.” Amid this shift, financial planning has never felt more urgent or more complex. The number one question for those approaching retirement remains the same: “Will I have enough?” Going into retirement without a financial plan is like…
In a world where financial decisions are increasingly fast‑paced and interconnected, having access to flexible liquidity has become essential for individuals and families at every stage of wealth building. Opportunities can arise quickly, unexpected expenses can surface without warning, and market conditions can shift in ways that challenge even the best‑laid plans. A thoughtful liquidity…
Divorces are always financially disruptive, but a divorce late-in-life can create unique financial challenges, especially for those already nearing or in retirement. The term “Gray Divorce” was first coined by the AARP in 2004. It describes the separation of couples typically over 50, frequently after many years of marriage. While divorce rates have fallen in…
A cohabitation agreement helps fill these gaps by defining expectations, documenting contributions, and protecting both partners through clarity and enforceability.
Exit planning requires time, reflection, and coordinated expertise to execute well. According to the Exit Planning Institute’s (EPI) State of Business Owner Readiness survey, 69% of business owners say exit planning is a priority, yet fewer than half have a formal plan or transition team.1 With statistics like that, it’s worth asking: What are the…
The retirement landscape is changing, and women are helping redefine what retirement confidence looks like. While wealth accumulation remains essential to retirement security, confidence is shaped by more than financial assets alone. Research shows retirement confidence is influenced by financial awareness, planning, behavioral engagement, and psychological readiness.1 Wealth provides stability and flexibility, but consistent participation,…
Wealth planning strategies are rarely about numbers alone, and traditional structures may not meet the complex long-term goals individuals seek to achieve. One planning concept that has gained increased attention in recent years is the purpose trust, designed to carry-out a defined objective rather than simply distributing assets to beneficiaries. Purpose trusts are not new, but their…
Our winter newsletter offers timely insights to help you plan for the year ahead.
The Rise of AI in Financial Services Artificial Intelligence (AI) is arguably the most transformative technological advancement since the internet. It enables rapid information retrieval through rule-based engines and parameters, evolving at an unprecedented pace. AI has improved efficiencies across industries — from operations to decision-making to research — and financial services is no exception….
If you have employees earning over $150,000, a significant change to your company’s retirement plan is coming in 2026. Under the SECURE 2.0 Act, high earners will be required to make catch-up contributions to Roth 401(k) accounts rather than traditional pre-tax accounts.[1,3] While this may sound like a minor technical adjustment, it could have substantial…
For many professionals, bonus season is both rewarding and complex. While a year-end payout can represent a substantial portion of total compensation, it also presents an opportunity—and a challenge—for effective financial and tax planning. Thoughtful preparation can help ensure that your bonus works harder for you, aligning short-term windfalls with long-term wealth strategies. Bonuses are…
Despite cooling economic growth, persistent inflation, and escalating trade tensions, 2025 delivered impressive results: equities posted strong double-digit gains while fixed income achieved its best performance since 2020.
As investors enter 2026, markets are transitioning from a volatile but constructive 2025 into a phase of normalization and recalibration. Economic momentum has moderated, inflation is easing gradually, and central banks are adjusting policy cautiously. In this environment, returns are likely to depend less on broad beta exposure and more on thoughtful positioning, discipline, and…
Internships are an exciting opportunity to learn more about an industry, role, and company. For Colton Steele, that opportunity led to a full-time job and exciting career prospects. While earning dual degrees in finance and economics from La Salle University, Steele joined Bryn Mawr Trust as a Corporate Trust Intern in 2024, where hands-on learning…
Social Security Takes Center Stage, Again Social Security remains one of the most important and widely discussed topics in retirement planning, especially with a growing wave of retirees and recent developments surrounding the Old-Age, Survivors, & Disability Insurance Program under the One Big Beautiful Bill Act.1 As conversations about benefits, claiming strategies, and the sustainability…
One of the basic tenets of the U.S. Internal Revenue Code is that everything has a cost, even if it’s not immediate. With few exceptions, all income gets taxed at some point. “At some point” is key. Taxpayers have some flexibility in recognizing income and paying tax on it. For example, if you own a…
Many retirees underestimate how much healthcare will cost in their golden years. According to Fidelity, a 65-year-old retiring this year will need around $172,500 to cover healthcare expenses throughout retirement. That figure excludes essential services such as vision, dental, or long-term care, which are not covered by Medicare1. Just like employer-sponsored plans, Medicare has gaps…
When it comes to wealth management, success isn’t just about beating market benchmarks.
When it comes to wealth management, success isn’t just about beating market benchmarks.
Retirement is a goal we set with dreams of traveling abroad, playing golf, relaxing on the beach, pursuing a passion project, spending more time with family and friends, or ticking off items on our personal bucket list. As retirement comes into view, the most common question is. “Will you be financially secure when you take…
October is National Retirement Security Month—a great reminder to pause and check in on your financial security. Retirement planning is more than just numbers; it is about preparing for your life’s unexpected turns, protecting your loved ones and giving yourself the confidence to make choices that align with your values. Research shows individuals who plan…
As you accumulate wealth over a lifetime, complexity follows. Early in your career, financial planning may have consisted of budgeting, cash flow, building an emergency fund, and getting proper insurance in place. You may even engage an advisor for investing, an attorney to draft wills, or a Certified Public Accountant (CPA) to do your taxes….
Staying current on the evolving tax landscape is crucial for effective financial planning. Download our Annual Tax Planning Guide and Year-End Planning Checklist to help keep you informed and on track about current tax and legal regulations.
Washington is once again in a government shutdown. Investors may be asking, does this really matter for the economy and markets? History provides a valuable perspective. What History Shows Shutdowns occur when Congress fails to pass appropriation bills or a temporary funding extension. When that happens, federal agencies close, hundreds of thousands of workers are…
Commercial real estate (CRE) has long been one of the most attractive avenues for building and preserving wealth. For investors, developers, and business owners, financing is often the key that unlocks opportunities in this space. While traditional banks and public lenders remain common sources of capital, many sophisticated clients turn to private banks for a…
Life insurance can be a powerful tool to incorporate into your estate and broader financial plan, particularly if you are a business owner. This is due, in large part, to the tax-free nature of income tax treatment of life insurance death benefits. Life insurance serves as a tax-efficient tool that allows you to pass wealth…
Consistently updating your estate planning documents is essential to ensure your wishes are accurately reflected and legally enforceable as your life circumstances change. Consider these top eight life situations or events that highlight the importance of regular updates. 1. Life Changes Major life events often require updates to your estate plan. These include: If your documents…
While we don’t all have billions of dollars to give away, the mindset and strategies of billionaire philanthropists like Melinda French Gates and MacKenzie Scott can be adopted to make anyone more impactful, intentional, and fulfilled in their giving. Giving requires having the right mindset and a thoughtfully integrated approach. Here are a few things…
Most people are familiar with traditional investments, such as stocks and bonds; however, alternative investments may be foreign to many investors. Although alternative investments can be traced back to the 1800s, they gained notoriety in the 1980s to protect assets from market volatility1. What are alternative investments? An alternative investment (also known as Alts) is…
As Americans celebrated Independence Day, Congress passed President Trump’s sweeping “The One, Big, Beautiful” bill, and the U.S. simultaneously executed a successful strike on Iran’s nuclear infrastructure. Equity markets have responded with exuberance, rallying sharply on renewed optimism. This surge follows a volatile first half of 2025, marked by the shock emergence of DeepSeek AI…
To quote the lead character in the 1986 movie Ferris Bueller’s Day Off, “Life moves pretty fast. If you don’t stop and look around once in a while, you could miss it.” The same can be true for our finances; it’s easy to lose track of where our money goes. However, lifetime spending with intention…
Most employees in 401(k) retirement plans are not professional investors, and they don’t need to be. However, in a retirement system that increasingly places responsibility on individuals to make informed investment decisions, having a basic understanding of your available options is essential to achieving long-term financial security. One of the most common and impactful tools…
As parents age, adult children often find themselves in the dual role of caregiver and financial planner — a balancing act that can be emotionally and financially taxing. This dynamic, frequently referred to as the “sandwich generation,” describes those who support their children while caring for aging parents. One crucial yet often overlooked aspect of…
In today’s fast-paced world, planning for the unexpected is more important than ever, especially when it comes to our health and medical care. A living will serves as a vital safeguard for individuals and their loved ones, articulating one’s preferences for medical treatment in situations where they may be unable to voice those choices. This…
As summer travel season approaches, many of our clients are making plans to explore destinations across Europe, Asia, and beyond. Whether your itinerary includes sun-soaked beaches, historic cities, or family adventures abroad, it’s important to think ahead when managing foreign currency needs. Smart foreign exchange (FX) strategies can help you avoid unnecessary fees, reduce risk,…
The first half of 2025 will be remembered for two defining events: the onset of reciprocal tariffs, marking an American trade war with the world, and Chinese AI developer DeepSeek’s revelation that shattered the myth of American AI supremacy. Amidst the fierce rivalry between America and China, these occurrences exposed the opposing forces of de-globalization…
As families accumulate wealth, trusts offer protection, growth, and efficient transfer from an individual (or grantor) to beneficiaries. While previously thought to be reserved for the ultra-wealthy, trusts are an excellent financial planning resource and are gaining popularity among the broader public. Today, we review how trusts may help families prepare for a multitude of…
An Interest on Lawyers’ Trust Account (IOLTA) is a type of trust account used by attorneys to hold client funds that are either too small in amount or held for too short a period to generate interest for the individual client. Instead of the interest benefiting the client, the interest is pooled and directed toward…
If you’re among the millions of Americans, like my wife and I, who purchased or refinanced their homes during the early years of the pandemic, you were likely fortunate enough to secure a mortgage rate between 2.5% and 4%. Mortgage rates reached an all-time low in January of 2021, but have since more than doubled,…
People often ask whether they need a living trust for their estate plan. The answer depends upon your goals for managing your assets during your lifetime and how you would like to transfer them after your passing. Here are some key points to consider when determining whether a living trust is right for you. What…
The largest wealth transfer in history is happening right now. Baby Boomers—who control an estimated $84 trillion in assets…
Despite the short-term volatility in the market, it’s important to remain optimistic about the long-term outlook.
The announcement of blanket tariffs on all foreign goods coming to the U.S. resulted in a sharp market selloff yesterday. Indications for today show no reprieve, as China, the world’s second-largest economy, is imposing its tariffs on U.S. goods. While historically, similar sparks have ignited a global trade war, immense uncertainty remains. Further retaliatory announcements…
Estate planning is one of the most thoughtful decisions property owners can make when placing real estate assets in a Limited Liability Company (LLC). Many people think estate planning is just about writing a will, but it involves much more—especially if you own valuable property. Using an LLC for real estate can provide legal protection,…
Financial planning can have many definitions. It can relate to your business, your finances, or your family in general. This exercise provides a road map of where you have been financially, where you are, and where you want to go. I am often asked how frequently I should partake in this exercise, and my answer…
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INVESTMENTS: NOT A DEPOSIT. NOT FDIC – INSURED. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT GUARANTEED BY THE BANK. MAY GO DOWN IN VALUE.
