News: Finance

Essex Savings Bank's Rafal named number one financial advisor

Essex Ct John Rafal, president of Essex Financial Services was ranked first in the August 27 Barron's Top 100 Independent Financial Advisers. For the past four years, Rafal has been included in Barron's Top 100 Financial Advisers, a listing that included mostly advisers from large international and national firms. This is the first year that Barron's rated independent financial advisers. Rafal, who resides in Old Lyme, Conn., started his own business in 1982 and joined with Essex Savings Bank in 1998. Essex Financial Services now manages over $2 billion in client assets. They provide a full range of financial services to individuals, professionals such as doctors and attorneys and business owners. Services include financial planning, investment services, alternative investment strategies, insurance products and retirement options including the management of corporate 401 (k) plans.
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It’s a confusing real estate world: Don’t you think? - by Daniel Calano

It’s a confusing real estate world: Don’t you think? - by Daniel Calano

The news is full of “never before” pronouncements. Never before has there been a pandemic so impactful on real estate. Never before has technology allowed for remote business meetings on such a frequent basis. Never before would people so comfortably work from home as to vacate office buildings, at least on Fridays and Mondays.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick

Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
 Real estate without good estate planning - a troublesome problem - by Daniel Calano

Real estate without good estate planning - a troublesome problem - by Daniel Calano

I spent the better part of a day this week working with attorneys on estate planning. I am clearly not an attorney, but I have learned much over the years while consulting on real estate, its potential, its future during the life of clients, as well as, shall we say, later.
The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.