What is “phishing”? It is one of the most commonly used tactics today to steal a person’s online banking password, secure access code, or sensitive information. It starts with a convincing story or emotional appeal. Some examples recently used:

Without a doubt, as a wealth planning advisor, the question I get asked most often about social security is straightforward: “Will social security be there for me when I need it?”

Crooks use clever schemes to defraud millions of people every year. They often combine new technology with old tricks to get people to send money or give out personal information. Here are some practical tips to help you stay a step ahead.

Cybersecurity is the art of protecting networks, devices, and data from unauthorized access or criminal use and the practice of ensuring confidentiality, integrity, and availability of information. It seems that everything relies on computers and the internet now—communication (e.g., email, smartphones, tablets), entertainment (e.g., interactive video games, social media, apps ), transportation (e.g., navigation systems), shopping (e.g., online shopping, credit cards), medicine (e.g., medical equipment, medical records), and the list goes on. How much of your daily life relies on technology? How much of your personal information is stored either on your own computer, smartphone, tablet or on someone else's system?

The tax filing deadline is fast approaching, which means time is running out to fund an IRA for 2023. If you had earned income last year, you may be able to contribute up to $6,500 for 2023 ($7,500 for those age 50 or older by December 31, 2023, $1,000 of which is considered a catch-up contribution) up until your tax return due date, excluding extensions. For most people, that date is Monday, April 15, 2024.

As we approach the end of the first quarter of 2024, the market has managed to continue to climb, even with headwinds such as geopolitical conflicts and elevated interest rates still prevalent features in the daily newsfeed. Although investors remain concerned about prices at the grocery store, one worry overrides all others: the election. According to a recent investor survey by Janus Henderson, over 78% of investors cite the election as their biggest worry in 2024.

Check fraud remains one of the most common schemes that victimize consumers and commercial entities every day. The Financial Crimes Enforcement Network (FinCEN) reported 680,000 cases of check fraud reported by financial institutions in 2022, nearly doubling from those reported during 2021.

In order to ensure your financial plan meets your goals, it’s important to keep up to date with the latest federal numbers. For example, there are inflation adjustments, expiring tax breaks and changes to rules coming up in 2024 that could impact how much you can save, gift, deduct, etc. Taxpayers will need to be mindful, too, that numerous provisions from the Tax Cuts and Jobs Act are sunsetting at the end of 2025.

When it comes to New Year’s Resolutions, there seems to be two types of people: those who look forward to making (and sometimes breaking) them, and those who think the whole thing is probably a waste of time. Everyone knows that many popular resolutions are broken by the time Valentine’s Day comes around, just look at the gym in January versus February or March!

In 2023, Certificates of Deposit (CDs) continue to stand out as a reliable and secure investment option, especially due to their higher interest rates compared to traditional savings accounts. These elevated interest rates serve as a compelling advantage, offering several benefits in today's financial landscape.

In the ever-evolving landscape of the financial sector, the significance of community banks has proven to be stable and resilient. Community banks have not only weathered the storm, but have emerged as pillars of strength and reliability, retaining deposits, and securing trust amidst times of uncertainty. Canandaigua National Bank & Trust (CNB) is no exception and remains well capitalized and well positioned to continue to serve our customers and community.

During the first two years of the COVID-19 pandemic, reported incidents of fraud and identity theft increased in frequency substantially. According to the FTC, identity theft complaint frequency rose 113% year-over-year during 2020, with 33% of adults in the United States experiencing some form of identity theft. During 2021, complaint volume grew again, with identity theft comprising about 24% of the 5.9 million overall complaints related to fraud. During this time, the most common complaint types involved government documents / benefits fraud.

One of the most surprising things Frank Hamlin III has learned about his role as the head of a community bank is that it has less to do with finances and more to do with relationships.

Having proper insurance coverage for those starting out in their careers can seem like a daunting proposition. From keeping up with student loan payments and the ever-increasing costs of everyday life, additional expenses are not always easy to take on. However, having adequate insurance coverage is an important part of reducing financial risk and one of the best ways to protect income and assets.

If you are covered by Medicare, it's time to compare your current coverage with other available options. Medicare's Open Enrollment period began on October 15 and runs through December 7. Medicare plans can change every year, and you may want to switch to a health or prescription drug plan that better suits your needs or your budget.