Recognizing Excellence: Andrew Ulvestad Achieves Certified Kingdom Advisor® Designation

Jul 17, 2025 | Retirement Planning

By earning the CKA®, Andrew joins a select group of professionals offering trusted, biblically grounded financial guidance.

What Is a Certified Kingdom Advisor®?

The Certified Kingdom Advisor® (CKA®) designation is a respected credential for Christian financial professionals. It signifies that an advisor has been trained to integrate biblical wisdom with specialized financial counsel, equipping them to help clients align financial decisions with their Christian values. As a designated faith-based financial advisor, Andrew Ulvestad brings both technical expertise and a spiritual perspective to help clients make wise, values-driven financial choices.

 

Why the CKA® Matters for Our Clients

We know that many of our clients want more than smart financial advice—they want guidance that reflects their beliefs. A Certified Kingdom Advisor® brings training and perspective to meet that need.

 

Biblically-Based Financial Guidance

Andrew’s CKA® training focused on applying Scripture to every aspect of financial planning—from budgeting and investing to retirement income and charitable giving. Biblical stewardship, generosity, and contentment are woven throughout.

 

Alignment With Christian Values

A CKA® helps clients structure their finances in a way that reflects their personal faith, including making intentional choices around giving, spending, saving, and investing.

 

Standard of Ethics

Certified Kingdom Advisors® commit to the Kingdom Advisors Code of Ethics, which prioritizes honest, impartial guidance that’s always in the best interest of the client.

 

What It Takes to Become a CKA®

Earning the Certified Kingdom Advisor® designation isn’t just about passing a test. Candidates must meet specific prerequisites (such as holding a CFP®, ChFC®, or CPA), complete a five-month online course, and pass a rigorous exam. They must also provide references from clients and a church leader and sign a personal stewardship statement.

The program is offered through Kingdom Advisors, in partnership with the Ron Blue Institute, and includes real-world case studies to help advisors apply faith-based principles in practical, client-facing situations.

 

Faith-Based Advice, Delivered With Excellence

At Cornerstone, we believe in simplifying the complex, focusing on impact, and putting our clients first. Andrew’s achievement is a reflection of those values—and of our commitment to helping clients make financial decisions that support their long-term goals and their faith.

Any opinions are those of Cornerstone Financial Solutions, Inc. and not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice. The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete. Investing involves risk and you may incur a profit or loss regardless of strategy selected.

Incorporating faith-based investing criteria into the investment selection process may result in investment performance deviating from other investment strategies or broad market benchmarks.

Kingdom Advisors owns the Certified Kingdom Advisor® and CKA® marks, which it authorizes use of by individuals who have completed Kingdom Advisors initial and ongoing certification requirements. Kingdom Advisors grants to Certified Kingdom Advisor® designees only a limited, non-transferable, non-assignable license to use the Certified Kingdom Advisor® and CKA® marks.

Prepare for the Unexpected: How to Organize Important Documents for Emergencies

Jul 11, 2025 | Retirement Planning

Life doesn’t always go according to plan. Emergencies can arise without warning—medical events, accidents, or even the sudden need to manage a loved one’s affairs. When that happens, will your family have what they need? One of the best ways to be ready is to organize important documents for emergencies before you need them. Having a centralized place for key personal, medical, and financial information ensures your loved ones aren’t left searching when time matters most.

Why Organizing Vital Information Matters

Without clear, accessible documentation, your loved ones could face unnecessary stress, confusion, and even financial consequences. By taking a few proactive steps now, you can spare them from digging through paperwork or making difficult decisions in a crisis.

One way to make this easier: download our free Essential Information Organizer, a fillable guide to help you gather and store everything in one place.

 

What to Include in Your Emergency Information File

To truly prepare, your information should go beyond just legal documents. Here’s what to gather:

 

Personal and Digital Access Details

Make sure someone you trust can access your digital life. This includes:

  • Usernames and passwords for email, banking, subscriptions, and social media
  • Device passcodes
  • Contact details for your employer, attorney, and financial advisor

Secure storage tools like a password manager or a printed list in a locked location can help.

 

Medical Information That Could Save Your Life

In a medical emergency, details matter. Include:

  • Primary care doctor and specialist names
  • Current medications and dosages
  • Allergies and chronic health conditions
  • Health insurance cards and policy numbers
  • Copies of your advance directive or healthcare power of attorney

Only 26% of Americans have an advance directive, according to the Journal of Preventive Medicine. Don’t wait to take this step.

 

Legal and Financial Documents to Reduce Stress

Help your family manage your affairs smoothly by organizing:

  • Will or trust documents
  • Power of attorney (health and financial)
  • Deeds, vehicle titles, and insurance policies
  • Retirement accounts and bank details
  • Logins to any online financial platforms or aggregation services

Be sure at least one trusted individual knows how to access this information securely.

 

Make It Easy with Our Essential Information Organizer

To help you get started, we’ve created a downloadable Essential Information Organizer. This free tool guides you through organizing everything from contacts and health information to digital access and financial records.

 

Download the Essential Information Organizer

(Tip: Save a digital copy and print one to keep in a secure but accessible location.)


Take Action Today—So They Aren’t Left Guessing Tomorrow

Don’t wait for an emergency to get organized. Taking the time to prepare now gives your loved ones clarity when they need it most.

 

Not a Cornerstone Client?

Through The Cornerstone Experience®, our clients have access to a suite of secure online tools to help organize personal, health, and financial information. We help clients prepare for the unexpected—so they can live with confidence today.

📞 Contact us at 605-357-8553 or cfsteam@mycfsgroup.com to learn more about The Cornerstone Experience®.

Spring Clean Your Finances: A Practical Checklist

Apr 18, 2025 | Retirement Planning

Spring is in the air—and it’s the perfect time to not just clean out your closets, but also to organize your finances. A financial spring cleaning helps you take stock of where you are, make smart updates, and set a clear course for the rest of the year. This checklist will walk you through simple yet essential steps to review your savings, rebalance your retirement accounts, update your documents, and much more.

We’ve put together a financial spring-cleaning checklist to help you get started. We’re here to assist you every step of the way so reach out if you have any questions.

 

Why Use a Financial Spring-Cleaning Checklist?

Just as you would use a checklist for travel or home projects, a financial checklist ensures that nothing important gets overlooked. Spring is an ideal time to pause, reevaluate, and realign your financial goals. Whether you’re preparing for retirement or simply want more peace of mind, these steps can help you stay on track.

 

Step-by-Step Financial Spring-Cleaning Checklist 

 

Maximize Your IRA Contributions

If you have an IRA, contribute the maximum amount to take advantage of tax benefits and long-term growth. For the 2024 tax year:

  • The contribution limit is $7,000if you’re under 50.
  • If you’re 50 or older, you can contribute up to $8,000.

 

Review and Rebalance Your 401(k)

Revisit your retirement account and check your 401(k) performance to ensure it’s aligned with your current goals. (If you’re a Cornerstone client, we work closely with you to review and rebalance your 401(k) to help ensure your retirement plan stays on track.)

  • Are you contributing enough to get the full employer match?
  • Is your asset allocation still appropriate?
  • Does your investment strategymatch your risk tolerance?
  • Do you need to rebalance to maintain diversification?

 

Evaluate Your Investment Portfolio

If you’re a Cornerstone client, you know that investments aren’t “set it and forget it” – it’s one of the things we review during your regular strategy sessions.

If you’re not a Cornerstone client, to assess your investment portfolio we recommend asking yourself the following:

  • Are my returns helping me move closer to retirement or other financial milestones?
  • Do my investments match my risk tolerance and reflect my stage of life?
  • Are my returns in line with expectations?

Analyze Your Cash Flow and Monthly Expenses

Understanding where your money is going is a key step to organizing your financing and getting clarity.

  • Recurring monthly expenses—which ones can you cut or reduce?
  • Review large, long-term financial commitments like mortgage or tuition. Are there ways to adjust for greater savings?
  • Extra cash flow—how can you allocate it toward retirement or investments?

Not sure how to estimate what you’re expenses will be in retirement? Read 5 Steps to Estimate Retirement Income Needs

Use Your Tax Refund Wisely

If you’re receiving a tax refund, decide how to use it strategically:

  • Pay down debt to save on interest payments.
  • Boost your emergency fund or retirement savings.
  • Invest in areas that align with your long-term goals.

Read Making the Most of Your Tax Refund

Organize Your Estate Planning Documents

Having your estate documents in order is a true act of love for your family. Ensuring your will, power of attorney, and medical directives are up-to-date and accessible goes a long way to reduces stress during challenging times.

  • Will and estate plan
  • Power of attorney
  • Advance medical directives
  • Letters of instructions
  • Other critical documents

Download our Important Documents Checklist for help organizing your vital personal, health, and financial information – In Case of Emergency: Organize Your Vital Info

Review Insurance Coverage

(If you’re a Cornerstone client, we regularly during your insurance coverage during your strategy session as one of the five essential areas of comprehensive financial planning.)

Life is full of surprises, and having adequate insurance coverage can provide a safety net. Make sure your policies reflect your current needs:

  • Does your life insurance align with your family’s current needs?
  • Are you adequately covered by disability and/or long-term care insurance?
  • Do your home and auto policies provide sufficient protection?

Check Your Credit Report for Errors and Fraud

Regularly checking your credit report helps you catch errors or signs of identity theft early. Check for:

  • Look for unfamiliar accounts or inquiries—these may indicate identity theft.
  • Be careful of hard inquiries—businesses checking your credit for loan applications (these can impact your score for up to two years).

Learn more about identity theft in these resources:

Reevaluate Your Financial Goals

Financial priorities shift over time, so take a moment to:

  • Identify new goals based on life changes, write them down.
  • Reassess older goals – are they still relevant? How can you move them forward?
  • Adjust your savings and investment plan accordingly.

Starting with Organized Finances

Spring cleaning your finances may not be the most exciting task, but it’s one of the most rewarding. Just like living in a clean and organized home feels great, having your finances in order brings clarity and confidence.

By taking a few practical steps each spring, you position yourself for a more secure and stress-free financial future. Our team is here to guide you every step of the way.

Here’s to a fresh start and a prosperous future—happy spring cleaning!

Complimentary Client Shredding

The Month of May in Both Offices:

M-Th   8am – 5pm

Fri        8am – 3pm

As a value-added service for our clients, you’re always welcome to bring in paper documents for shredding – no appointment needed. It’s one of the many ways we aim to make managing your financial life easier.

We also place secure shred bins in our lobbies during May and October, making those ideal times to clear out larger quantities.

What can be shredded:

√ Paper documents (paper clips and staples are okay)

× No binder clips, three-ring binders, CDs, DVDs, or other electronic media.

Download How Long to Keep Paperwork

Not a Cornerstone Client?

Let’s build a plan that fits your goals—schedule a strategy session with our team today!

Sioux Falls: 605-357-8553

Huron: 605-352-9490

Email cfsteam@mycfsgroup.com 

CSP #769688 Exp. 4.10.26

Avoiding Withdrawal Pitfalls: Retirement Planning for Federal Employees

Apr 18, 2025 | Retirement Planning

Retirement planning for federal employees comes with unique challenges – especially when it comes to deciding how and when to withdraw from your plan. As you approach retirement, you may be feeling a mixture of excitement and overwhelm. From understanding available options to avoiding penalties and meeting IRS deadlines, there’s a lot to consider.

You’ve worked hard, now it’s about making sure your retirement funding works just as hard for you. With the right guidance and planning, you can make confident decisions and avoid costly missteps.

 

Understanding Your Retirement Withdrawal Options

When it’s time to access your retirement savings, you’ll face decisions that can impact your income, taxes, and financial security for years to come. You may have the option to choose a lump-sum payout, monthly payments, or an annuity.

 

Pros and Cons of Common Withdrawal Methods
  • Lump-sum payments provide immediate access to funds but may increase your tax liability.
  • Monthly withdrawals help manage your tax bracket and provide steady income.
  • Annuities offer predictable payments but may limit flexibility.

Carefully review these options in light of your overall financial goals.

  

 

Avoid Early Withdrawal Penalties

Withdrawing before age 59½ may result in a 10% early withdrawal penalty. However, if you separate from service at age 55 or older, you may qualify for an exception.

 

Timing Matters

Planning your withdrawals around these milestones is key. Consider consulting with a financial advisor to create a timeline that minimizes taxes and penalties.

  

  

Planning for Required Minimum Distributions (RMDs)

Once you turn 73, the IRS requires you to begin taking minimum distributions from your retirement account.

 

Missing RMDs Can Be Costly

Failing to take your RMDs on time can lead to a 25% penalty. Setting up automatic reminders and a withdrawal strategy can help you stay compliant and maintain consistent cash flow.

  

  

Coordinate Retirement Income Sources

Retirement planning for federal employees often involves multiple income streams—such as Social Security, pensions, and other savings.

 
Manage Taxes with an Income Plan

Coordinating withdrawals can help balance your income and control your tax bracket. A well-planned income strategy ensures stability and reduces surprises during tax season.

  
 
 Talk to a Financial Advisor Who Understands Federal Benefits

We recommend working with a financial advisor who understands the federal system. Federal employee benefits can be complex, and strategic planning can help you avoid common pitfalls.

Two of our Wealth Advisors at Cornerstone—Gordon Wollman and Jill Mollner—hold the Chartered Federal Employee Benefits ConsultantSM (ChFEBCSM) designation. Their training helps ensure we understand the specialized needs and concerns of federal employees.

 

 

Ready to Take the Next Step?

If you’re seeking clarity and confidence in your retirement journey, we’re here to help. Schedule a complimentary strategy session today to talk through your goals and build a plan that fits your future.

Call 605-357-8553 in Sioux Falls or 605-352-9490 for our Huron office.
Email cfsteam@mycfsgroup.com

Raymond James and Cornerstone Financial Solutions are independent from, and are not affiliated with, or endorsed by, the U.S. Government, the Federal Employee Retirement System, or any other Federal Government-sponsored benefits programs or retirement plans. Clients should consult their plan administrator for detailed plan information.

Gordon Wollman and Jill Mollner hold the Chartered Federal Employee Benefits ConsultantSM (ChFEBCSM) designation. Federal Seminars and ChFEBCSM, Inc. owns the symbol marks ChFEBCSM, Chartered Federal Employee Benefits ConsultantSM and ChFEBCSM logo in the U.S. CSP #761837 Exp. 4.17.25.

MAKING THE MOST OF YOUR TAX REFUND

Mar 11, 2025 | Retirement Planning

Cornerstone is pleased to bring you this information by Ed Slott and Company, LLC. As a member of Ed Slott’s Elite IRA Advisor GroupTM Gordon keeps Cornerstone professionals on the cutting-edge of retirement planning, tax law, and IRA distribution strategies. Through continuous training with Ed Slott and his team of IRA Experts, we receive real-time updates on tax code changes and retirement planning regulations, and access to specialized guidance for complex cases. This is just one of the tools in our arsenal to help Cornerstone clients avoid unnecessary taxes and fees!

A Smart Strategy for Retirement Savings

If you’re expecting a tax refund, it’s tempting to spend it on something fun. But, there are ways to put it to work to strengthen your financial future.

One smart way to use it? Contribute to an IRA—boosting your retirement savings while potentially reducing your tax burden. If you’re already retired, your refund could help fund a Roth IRA for a child or grandchild, helping set them up for long-term financial success.

The deadline to contribute for the 2024 tax year is April 15, 2025.

 

Contribution Limits

For 2024 and 2025, you can contribute up to:

  • $7,000 if you’re under 50
  • $8,000 if you’re 50 or older

Your tax refund can be deposited directly into your IRA or even split among multiple retirement accounts.

  • A refund going to only one account can be done directly on IRS Form 1040.
  • Prepare IRS Form 8888, found on www.irs.gov, to direct the refund to up to three accounts. Pay close attention to IRS guidelines to avoid any common errors.
    • If the IRS adjusts your refund amount (due to math errors or past-due taxes), it could impact the deposit amount.
    • If your IRA deposit is meant for the prior tax year, confirm with your financial institution that they’ve coded it correctly.

Once your refund is deposited, verify:

  • The funds arrived in the correct account
  • The deposit was coded for the correct tax year (if applicable)
  • Any IRS adjustments haven’t affected your contribution plan

If there’s an issue, you may need to work with your financial institution or even file an amended return.

 

As always, give us a call if you have any questions!

NOT A CORNERSTONE CLIENT?

A tax refund can be an easy way to increase your own retirement savings or contribute to the next generation’s financial stability. At Cornerstone, our advisors specialize in helping clients navigate tax concerns as part of their comprehensive financial plan and make the most of every opportunity. From strategic planning to personalized guidance, we’re here to help ensure your money is working toward your goals!

Schedule a strategy session today!

Call SIOUX FALLS at 605-357-8553

Call HURON at 605-352-9490

Or email cfsteam@mycfsgroup.com

This information, developed in part by an independent third party, has been obtained from sources considered to be reliable, but Raymond James Financial Services, Inc. does not guarantee that the foregoing material is accurate or complete. Changes in tax laws or regulations may occur at any time and could substantially impact your situation. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

Reprinted with permission. Ed Slott and Company, LLC takes no responsibility for the current accuracy of this article. Raymond James is not affiliated and does not endorse Ed Slott and Company, LLC. Source: © 2025 Ed Slott and Company, LLC.

Planning for Required Minimum Distributions (RMDs)

Jan 29, 2025 | Retirement Planning

If you save for retirement in a qualified plan, such as a 401(k) plan or an IRA, the government currently requires you to take withdrawals from these accounts during retirement. The withdrawals, known as required minimum distributions or RMDs, are taxable so it’s a good idea to plan ahead and avoid unexpected tax consequences.

Here is some basic information about RMDs. It is offered with the caveat that RMDs have complex rules. It’s important to talk with your financial or tax professional before taking action.

If your 73rd birthday is in 2025 , your first RMD must be taken by April 1, 2026. Your second RMD by December 31, 2026, your third RMD by December 31, 2027, and so on.1

If you delay your first distribution until April 1, 2026 , then you will need to take two RMDs in the same year.1

If you have multiple 401(k) plan and IRA accounts , you typically must calculate the RMD for each one of them. You can, however, withdraw the entire amount from a single account.2

If you’re still working at age 73 , you don’t have to take an RMD from your workplace retirement plan account (as long as the plan allows it). This exception does not apply to traditional IRAs. You must take RMDs from traditional IRAs, even if you’re still working.2

If you inherit an IRA from a spouse (after 2019) who already reached age 73, you will normally need to take an RMD for the year of death, if your spouse did not already take one. If your spouse dies before age 73, you may be able to keep the inherited account, roll it over into your IRA, or withdraw the money in a lump sum or over a period of time.2

If you inherit an IRA from someone other than your spouse (after 2019), usually the funds must be completely withdrawn from the account within 10 years. RMDs may be required if the person from whom you inherited the account was already taking RMDs.4 There are some exceptions.

If you miss an RMD deadline or you don’t withdraw the full amount, penalties are steep. The penalty tax is 25 percent of the amount you failed to withdraw. If you correct the issue within two years, the penalty tax is lower.1

If you own a Roth IRA or Designated Roth account in workplace plan, you do not have to take RMDs—unless you inherited the account. In that case, RMD rules usually apply.1 Again, the rules governing RMDs are complex.

If you would like help, or if you have questions, please get in touch. Call 605-352-9490 in Huron or 605-357-8553 in Sioux Falls.

Not a Cornerstone client? 

Rules regarding Required Minimum Distributions (RMDs) can be complex, and missing a deadline can be costly. We help our clients navigate RMDs and the many other pieces of a comprehensive financial plan. How can we help you? Call 605-357-8553 or email cfsteam@mycfsgroup.com today and schedule your complimentary, no-obligation appointment.

Sources

  1. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds
  2. https://www.irs.gov/retirement-plans/rmd-comparison-chart-iras-vs-defined-contribution-plans
  3. 11 https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-beneficiary
  4. 12 https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-beneficiary

CSP #707048 (in CGC Weekly Commentary) Exp. 1.27.26