Category Archives: Financial Planning / Investments

By Rod Bacon

Earlier this year, HK Wealth Management Group, headquartered in Clifton Park, expanded its reach with the acquisition of two area financial advisors.

Burnt Hills Financial and Wilbur Financial Group of Greenwich were brought into the HK family. The client base from both practices and some physical assets in Greenwich were purchased.

Burnt Hills Financial was founded in 2016 by Thomas Lansing Jr., while Wilbur Financial Group was established in 2005 by Larry J. Wilbur. According to Kevin M. Hedley, MS, CPA, PFS, HK’s founder and principal adviser, the acquisition of these firms is a good fit because they all use the same broker-dealer and money managers, so the transition has been seamless.

“This acquisition allows us to continue serving more individuals and families throughout the region while maintaining a local presence,” he said. “It also enables clients to benefit from the resources of our broker-dealer partners and leading asset management platforms such as AssetMark. As one of AssetMark’s higher-tier firms we are able to provide a broader ranger of planning and investment solutions than may have previously been available.”

By Staff Writer

When Harrison Xu and Joseph Vidarte launched Saratoga Private Wealth in Saratoga Springs in November 2025, their goal was not simply to establish another wealth management firm.

Instead, they set out to build a business centered on greater client engagement, active communication and a more coordinated approach to financial planning.

Based at 229 Washington St., Saratoga Private Wealth provides investment management, retirement planning and wealth preservation services for individuals and families. Xu is president of the firm, while Vidarte is vice president and partner.

Their launch reflects a broader movement within the financial advisory industry. Over the past decade, many experienced advisers have chosen to establish independent firms, citing greater flexibility in client service, technology selection and long-term planning strategies. At the same time, clients increasingly seek more personal guidance and ongoing communication rather than periodic portfolio reviews.

Provided By Eric Snell

In the age of social media, it’s easy to find advice on just about anything — including how to manage your money. Content creators known as “finfluencers” — short for financial influencers — use platforms like TikTok, YouTube and Instagram to share their takes on investing, budgeting and building wealth. Many of them are charismatic and relatable, and they often speak from personal experience. But while their content may be engaging, taking financial advice from a finfluencer without digging deeper can come with significant risks.

While some finfluencers may have formal training or credentials, many do not. Instead, their influence stems from their popularity rather than professional experience. But popular advice may not necessarily be good advice. A 2025 study by the Swiss Finance Institute even found that unskilled finfluencers typically have larger followings than skilled ones.

Why be cautious?

For young or new investors, social media can make finance feel accessible. In fact, a 2022 FINRA study says that more than 60% of Americans younger than 35 get investing information from these platforms. But social media isn’t regulated the same way traditional financial advising is, so anyone, qualified or not, can offer financial tips.

Unlike traditional financial advisors, finfluencers don’t know your unique goals, financial situation or risk tolerance. And likely, they’re not licensed (you can check here: Check Out Your Investment Professional | Investor.gov). Even well-meaning guidance might lead you down a risky path if it’s not tailored to your needs. And unfortunately, some finfluencers have exploited the trust they build with followers to promote questionable investments or outright frauds.

By Peter Capozzola, CFA

At our house, I stay away from any projects having anything to do with electricity; or anything that can result in a flooded basement or in a tree crashing through our roof.  Sure, I can look up a YouTube video for advice, but for me DIY has its limits.  I’m better off hiring someone who has the professional experience and skills in these fields and is hard wired in ways I am not.  

When it comes to investing, people can take the DIY approach and even find tutorials on YouTube (you may want to skip past the “Roaring Kitty” GameStop Meme). Beyond that, the advice offered can be like pieces of a puzzle; incomplete, and from which it is impossible to grasp the full picture. Worse, the information may simply not be applicable to your goals and circumstances, so it is not the solid foundation on which you would want and need to build a plan for your future.  

Managing investments is what an investment manager does day-in day-out, year-in year-out.  It is a profession they are committed to, and this is how they are hard wired. To us, the keys are an informed approach; executing a disciplined process; having the right people on our team; and focusing on capital preservation by striking a balance between risk and reward and seeking a margin of safety when investing.   

There are five key elements to a successful client-advisor partnership: an informed plan; an appropriate strategic asset allocation; opportunistic tactical allocation, diversification, and ongoing communication with clients.  

What informs an investment plan is not so much the markets or numbers, but what matters to you. Any discussion should include a review of your cash needs, time horizon, tolerance for risk, investment return goal, tax impacts and your unique circumstances. Each of these factors should be considered when determining an appropriate investment path for you.

That investment path begins with a “strategic allocation” that lays out the appropriate mix of cash, bonds and stocks, taking into account the historical returns and risks of the markets over the long run, which is suited to meet your particular goals. Keep in mind that as your circumstances change, your investment path and strategic allocation will likely change as well.

As an investor, you can easily feel frustrated to see short-term drops in your investment statements. But while you cannot control the market, you may find it helpful to review the factors you can control.

Many forces affect the financial markets, including geopolitical events, corporate profits and interest rate movements – forces beyond the control of most individual investors.

In any case, it’s important to focus on the things you can control, such as these:

• Your ability to define your goals. One area in which you have total control is your ability to define your goals. Like most people, you probably have short-term goals—such as saving for a new car or a dream vacation—and long-term ones, such as a comfortable retirement. Once you identify your goals and estimate how much they will cost, you can create an investment strategy to help achieve them. 

Over time, some of your personal circumstances will likely change, so you’ll want to review your time horizon and risk tolerance on a regular basis, adjusting your strategy when appropriate. And the same is true for your goals. They may evolve over time, requiring new responses from you in how you invest.

• Your response to market downturns. When the market drops and the value of your investments declines, you might be tempted to take immediate action in an effort to stop the losses. This is understandable. After all, your investment results can have a big impact on your future. However, acting hastily could work against you. 

By David Cumming, CFP, RICP, CRPS

In today’s dynamic market environment, some investors may be looking beyond stocks and bonds for other options for investing their money. This search for other options may lead to alternative investments. 

Alternative investments are investments outside the stock and bond markets, and may include real estate, private equity, hedge funds, digital assets, and may include investments offering to these financial instruments such as cryptocurrencies, commodities, precious metals and art or collectibles. 

These types of investments tend not to be correlated to the performance of stocks and bonds, and may offer the potential for higher returns, but typically with higher risk.

Here is an overview of what you need to know before investing.

Potential upsides of alternative investments:

• Potential reduction in overall volatility. Since their performance are historically low to moderate correlation with market indices, alternative investments may help to reduce overall volatility within a portfolio of traditional investments.

• Diversification. Alternative investments typically help provide diversification across different markets, strategies, managers and investment styles.

• Potential for increased performance. Like any investment, the rate of return for alternative investments is not guaranteed. However, according to a study called “The Rate of Return on Everything, 1870-2015,” which looked at performance across 16 advanced economies over a period of 145 years, residential real estate provided the best returns.