Articles – Thorne Financial Partners

Set for Life

Complete These Tasks To Help Determine Your Life Insurance Needs For many people, life insurance is a key component of a comprehensive financial plan. Determining how much you need is a crucial step in ensuring financial security for your loved ones in the event of your passing. While there’s no one-size-fits-all answer, completing these planning tasks can help you figure out the right amount of coverage for your needs. Assess your financial obligations. Determining your life insurance needs starts with …

Tech Support Scams

This article discusses the emerging threat of tech support scams and what to do when you receive one. What are tech support scams? Have you ever received a suspicious pop-up message or phone call about an “issue” on your computer? If so, you were the target of a tech support scam. These scams are a popular type of fraud involving cybercriminals who imitate a reputable company and attempt to convince you of a technical issue with your computer that …

Smishing

Smishing is a phishing text message that’s delivered to mobile devices where bad actors impersonate a person or company in an attempt to commit fraud. The contents of the sent text message often contain links that are meant to trick people into revealing sensitive information. These attacks are successful because people are more inclined to trust a text message and many people are unaware that phishing attacks can occur via text message. In some situations, smishing is a tactic used …

Deepfakes

This article discusses the rising impact of Deepfakes and how to identify them. With the growth of technology, we’ve seen the evolution and adoption of artificial intelligence (AI) skyrocket. Looking to simplify workflows or to innovate upon existing business, cyber criminals are using these same tools to for more sophisticated cyberattacks to commit identity theft or financial fraud. One such threat is known as deepfakes. What are Deepfakes? A “deepfake” is a type of synthetic media created using artificial intelligence …

Account View 2.0

This article discusses the tool Account View 2.0 and investor security. LPL Financial takes the security and privacy of our products seriously. To safeguard data, we advocate for security in the conception, design, and implementation of our investor-facing platforms, like Account View 2.0. We strive to build the most innovative, secure, and empowering tools for financial professionals and their clients, and encourage our third-party partners and the industry to join us in that commitment. Security is an evolving journey and …

Investment Scams

This article discusses the impacts of Investment scams and how to prevent them. Based on the FBI’s most recent internet crime report, investment fraud saw a 38% increase in 2023 with losses accruing up to $4.57 billion dollars. It is important to note that the FBI has seen investment scam losses increase exponentially since 2020, showing no signs of slowing down. Cybercriminals are relying on tricking victims into giving away sensitive information that will lead to financial fraud. It is …

Securing Mobile Devices

This article discusses the best practices for securing your mobile devices. Mobile devices are standard for both business and personal use. However, our ability to keep up with this rapidly evolving technology leaves many devices open to exploits and attacks. Almost all Americans own a cell phone, creating an abundance of targets for attackers. Follow these best practices to help secure your mobile devices: Update your mobile device on a regular basis Don’t ignore the update alerts on your mobile …

Tax-Related Identity Theft Crimes

Criminals are stealing taxpayers’ identities and committing tax-related crimes. There are steps you can take to keep your personal information protected. Identity theft is a growing concern. In 2021, identity fraud impacted 15 million U.S. consumers with $24 billion in losses. With your Social Security number, a criminal can commit tax fraud and other financial-related crimes in your name. There are a number of common ways that identity thieves can obtain your Social Security number: Tax-related identity theft is when …

When to Begin Collecting Social Security

Deciding when to begin collecting Social Security depends on a number of factors, including how long you anticipate needing it. Deciding when to retire and begin collecting Social Security is an important life decision. Some people may feel they don’t have enough savings to retire and delay their retirement plans to continue working, which means postponing when they begin collecting Social Security. Current law allows workers to begin collecting Social Security between 62 and 70 years of age. The longer …

Year-End Tax Planning Tips

You may be able to reduce your tax liability if you consider adopting these tax strategies before year’s end. Few words can dampen the cheer and optimism of a New Year like taxes. Let’s face it, the time for holidays, time off, and family should be celebratory, not burdensome. But if you approach taxes with an eye toward reducing your liability for next year, the concept becomes more amenable. And indeed, there are numerous tax-savings strategies that you can implement …

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