Stay safe from Medicare scams

Four red flags to watch for.

Medicare fraud has huge costs for older adults. In 2024, scammers were charged with major fraud totaling billions. Scammers contact Medicare recipients to steal Medicare or Social Security numbers and file false claims. Protect yourself by watching for:

•  “Too good to be true” promises: Free medical supplies or medications, tests not ordered by your doctor, or “pre-approvals” for new plans with better benefits may be scams.
• Unexpected asks for personal information: Medicare won’t call you unless you request it. Don’t share your Medicare number with anyone calling unexpectedly.
•  Suspicious links: Scammers send fake emails or texts with links to steal your data. Don’t click unexpected messages.
• Threats to terminate benefits: Your coverage can’t be taken away for not joining specific plans, for example.

Source: National Council on Aging

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.

Roth conversions still shine after tax law changes

Before the One Big Beautiful Bill Act passed in July 2025, Americans planning for intergenerational wealth transfers were uncertain whether relatively low tax rates and historically generous estate and gift tax exemptions might sunset at the end of 2025. The prospect of increased tax implications prompted many to consider mitigation strategies.

Then, the One Big Beautiful Bill Act made the more advantageous rates and exemptions “permanent.”

Typical reaction: “Never mind, nothing to mitigate here.”

Yet for many – especially those whose heirs may be in their high-earning years at the time of inheritance – there is still good reason to consider a Roth conversion, which involves paying taxes now to create tax-free income later. A Roth conversion can be relevant to tax, income and wealth transfer strategies.

First, quick definitions:

• A traditional IRA offers tax-deferred growth – contributions are made with pre-tax dollars and taxes are paid when funds are distributed or withdrawn. At a certain age, minimum required distributions (RMDs) must be taken annually.
  A Roth IRA offers tax-free growth – contributions are made with after-tax dollars and withdrawals are tax-free if relatively easy criteria are met. Distributions are not required for the original account owner at any age.
• A Roth conversion involves converting tax-deferred savings, such as in a traditional IRA, to after-tax savings in a Roth IRA, creating the potential for future tax-free growth and income. Taxes on the converted amount, however, are accelerated – the converted amount is taxed as income in the year of the conversion.

How much ‘room’ do you have?

Paying a larger tax bill now may not be advantageous or feasible for everyone, but the passage of the One Big Beautiful Bill Act was a positive development for those looking to convert tax-deferred savings to a Roth IRA.

The law extended comparatively low tax rates, but they are permanent only in that current legislation does not call for them to end at a predetermined date. Future laws can change the tax rates and brackets.

The One Big Beautiful Bill Act also introduced a senior deduction and increased the SALT tax deduction, potential tax-saving opportunities that need to be part of the calculation:

• The senior deduction allows an additional $6,000 deduction for taxpayers age 65 or older for tax years through 2028. The deduction is available whether you itemize or claim the standard deduction. Income limits apply, however, and the deduction begins to phase out at modified adjusted gross income levels of $75,000 for single filers and $150,000 for married couples filing jointly. It phases out completely at $175,000 and $250,000, respectively.
• The state and local tax deduction was increased from $10,000 to $40,000 for 2025 and will adjust higher by 1% each year through 2029. Here, the increased deduction, meaning the amount above the baseline $10,000 deduction, begins to phase out at modified adjusted gross income over $500,000 and phases out completely out at $600,000

If your goal is to preserve the full senior and SALT deductions, you’ll want to be careful not to convert too much of your tax-deferred savings, as the converted amount counts as income in the year of the conversion.

Potential benefits of a Roth conversion

There are several reasons you might consider a Roth conversion for your own income strategy:

• Tax rates in the current year could be lower than expected in future years.
• A mix of taxable and tax-free accounts – and the ability to take strategic distributions from both – could make it easier to adjust to a future tax environment.
• A Roth conversion will result in a smaller traditional IRA, which translates to lower RMDs; Roth IRAs do not have RMDs.
• During times of market volatility, converting while asset values are depressed could result in a lower tax bill for the converted securities. Conversions can be done in-kind, with any potential appreciation due to a market rebound growing tax-free in the Roth IRA.

If preserving family wealth across generations is a primary goal, a Roth conversion has meaningful considerations related to another recent tax law change known as the 10-year rule. Previously, the tax-deferred benefits of a traditional IRA were passed from generation to generation under what was known as the stretch rule: distributions for an inherited IRA became subject to the beneficiary’s life expectancy.

The 10-year rule, which passed as part of the SECURE Act, requires most non-spousal IRA beneficiaries – think, children – to zero out an inherited IRA’s account balance 10 years after the original account holder’s death. And if the original owner was taking RMDs, the beneficiary must take them annually, as well. The 10-year rule creates more of a tax burden for beneficiaries of a traditional IRA because distributions are taxed as income. If the next-generation beneficiary is in their high-earning years at the time, the tax burden is exacerbated.

In that sense, a Roth conversion can serve as a tax arbitrage between the IRA owner and their intended beneficiary. For example, parents might be in a lower tax bracket during retirement compared to their grown children who are in the workforce.

While most non-spousal beneficiaries who inherit a Roth IRA must also fully distribute the account by the end of the 10th year after the original owner’s death, distributions from a Roth are generally tax-free and beneficiaries can take distributions with no tax consequences. Because there are no RMDs for Roth IRAs, strategically, the beneficiary can hold the inherited Roth IRA for the full 10 years before distributing the account, compounding the power of tax-free growth.

Additional considerations

Roth conversions increase your gross income in the year of conversion, which may affect other taxation, including deductions, credits and related items, such as Medicare premiums or Social Security taxation.

For converted dollars to be distributed without a 10% penalty, the converted funds must be held for at least five years, or the Roth IRA owner must be 59 1/2 or older. A separate five-year period applies for each conversion.

Selling assets from the IRA to pay taxes limits long-term growth potential. Consider paying taxes from an outside source.

If you intend to leave your traditional IRA to a charity, it may not make sense for you to pay additional taxes today on money or assets a tax-exempt charity would not pay.

Bottom line

While converting tax-deferred funds to a Roth IRA can offer significant benefits, it’s important to evaluate the various implications of increasing your income in the year of conversion based on your situation and goals.

Raymond James and its advisors do not offer tax advice. You should discuss any tax matters with the appropriate professional.

Like Traditional IRAs, contribution limits apply to Roth IRAs. In addition, with a Roth IRA, your allowable contribution may be reduced or eliminated if your annual income exceeds certain limits. Contributions to a Roth IRA are never tax deductible, but if certain conditions are met, distributions will be completely income tax free. Roth IRA owners must be 59½ or older and have held the IRA for five years before tax-free withdrawals are permitted.

Unless certain criteria are met, Roth IRA owners must be 59½ or older and have held the IRA for five years before tax-free withdrawals are permitted. Additionally, each converted amount may be subject to its own five-year holding period. Converting a traditional IRA into a Roth IRA has tax implications. Investors should consult a tax advisor before deciding to do a conversion.

Contributions to a traditional IRA may be tax-deductible depending on the taxpayer’s income, tax-filing status, and other factors. Withdrawal of pre-tax contributions and/or earnings will be subject to ordinary income tax and, if taken prior to age 59 1/2, may be subject to a 10% federal tax penalty.

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.

From the Desk of Dale Crossley and Evan Shear | 2026

While periods of political uncertainty and market volatility are nothing new, we know that each season of instability can feel different when you are living through it in real time. We have seen similar moments before, because uncertainty has always been part of the investing landscape. But the pace, tone, and intensity of the last several months have created a level of stress that feels especially personal for many investors. When headlines change by the hour and markets seem to respond in real time, it can create a sense that everything is moving at once. Even disciplined, long-term investors may find themselves feeling uneasy, distracted, or tempted to make sense of every new development as it unfolds.

That emotional weight is real. Money is never just about numbers on a page. It is tied to your future, your family, your goals, and your sense of security. In seasons like this, it is important to acknowledge that stress rather than dismiss it.

At the same time, moments like these are also a reminder of something we have long believed: perspective matters most when uncertainty feels the loudest.

While every period of uncertainty has its own causes, the underlying challenge for investors is often the same: how to remain thoughtful when the world feels reactive. With that in mind, here are three things we believe are especially important to consider during volatile times.

1. Not every headline requires a decision.

Today’s news cycle is immediate, constant, and often designed to provoke urgency. Political developments, economic reports, and market reactions can make it feel as though action is always necessary. In reality, not every piece of news should lead to a change in investment strategy. Reacting too quickly to short-term developments can sometimes do more harm than the volatility itself.

2. Volatility often tests behavior more than it changes fundamentals.

Market fluctuations are uncomfortable, but they are not unusual. Over time, markets have moved through elections, policy changes, recessions, global conflict, and countless other disruptions. What often has the greatest long-term impact is not the event itself, but how investors respond to it. Staying disciplined during uncertain periods is rarely easy, but it is often essential.

3. Your financial plan should be anchored to your life, not the moment.

Your investment strategy should reflect your goals, your time horizon, and your tolerance for risk. That foundation matters most when the environment becomes noisy. A well-built plan is not meant to shift with every headline. It is meant to provide structure, clarity, and resilience through changing conditions.

At CrossleyShear, this is the lens through which we guide our work every day. We remain attentive, thoughtful, and actively engaged in the management of your portfolio, but we do so with discipline rather than reaction. Our role is not simply to respond to volatility. It is to help keep your investment strategy aligned with what matters most to you.

In uncertain times, we believe calm perspective is one of the most valuable things an advisor can offer. As always, we are here to answer questions, talk through concerns, and help you move forward with confidence.

A Few Personal Updates from Our Team

Even in busy and uncertain seasons, we are always grateful for the personal milestones and meaningful moments that remind us of what matters most. We are pleased to share a few recent updates from the CrossleyShear family:

• Evan Shear — Evan and his family are celebrating an exciting milestone as his daughter, Hadyn Shear, prepares to graduate from Tulane in May. She will then head to New York University to begin graduate school and pursue her Doctorate of Physical Therapy.
• Andrew Hall — Andrew and his family are cheering on his daughter, Kate Hall, as she prepares to run the London Marathon on April 25, an incredible accomplishment and memorable experience.
• Shaun Jones — Shaun and his family are enjoying a special season as their daughter, Bella, settles into her first semester at the University of Miami.

Thank you, as always, for your continued trust and for allowing us to be part of your journey.

Any opinions are those of CrossleyShear Wealth Management and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. All opinions are as of this date and are subject to change without notice. Past performance is not a guarantee of future results.

Scam alert: Learn to spot and stop common fraud tactics

These 10 common scams catch people off guard. Here’s how to stay ahead of them.

Fraudsters do more than steal money. They take advantage of people during moments of change or weakness, especially when routines shift. Scammers often appear when you're under pressure, grieving, adjusting to retirement or simply overwhelmed.

And you don’t have to be retired to be a target. Bad actors look for any opportunity.

Recognizing the tactics they use is the first step toward stopping them.

1. Lottery scam
You get an unsolicited phone call or email saying you’ve won a large prize. The fraudster asks you to send money to cover shipping, taxes or other ancillary fees. The prize never arrives because it was never real.

Ask yourself: Did you actually enter a contest? Did they explain when and how they’d contact you if you won?

2. Grandchild scam
Your grandchild calls to confess their troubles. Or so you think. A fraudster may pretend to be a grandchild in crisis and urgently ask you for money, often begging you not to tell their parents. This emotional pressure is part of the scam.

Ask yourself: Does this sound like something your grandchild would say? Can you pause and call them back – or call their parents – before making a decision?

To prepare for such scenarios, talk with your family or close loved ones now about how you’ll contact each other during emergencies. Agree on ways to verify it’s really them before you act.

3. Charity scam
You donate to one charity and end up on every charity’s list. Some charities sell or share your name, phone number and email with other organizations and third-party fundraisers or marketing lists. Fraudsters may use similar-sounding names or logos to trick you into giving again, but the money doesn’t go where you intend.

Ask yourself: Did you initiate the donation, or are they contacting you out of the blue? Does the name exactly match the group you intended to support?

4. Computer scam
Someone calls pretending to be from a major company, such as Microsoft, and says he can see that your computer has a virus. He offers to help you get rid of it by asking you to log into a website that lets him control your computer. The technical term for this is remote access, and it allows the fraudster to access your computer where they will then steal your personal and financial information.

Ask yourself: Did you reach out for tech support, or did they contact you first? If you already have a support service, does this match how they usually reach out? Real companies don’t call out of the blue to fix your computer.

5. Timeshare scam
If you own a timeshare, you may get a call from someone claiming they’re authorized to sell it for you, for a fee. After paying, however, you never hear from them again.

Ask yourself: Did you contact this company first? Have they provided a contract or any proof you can share with your lawyer to confirm it’s legitimate?

6. Homeowner scam
A man comes to your door and offers to clean your gutters or trim your trees, which sounds like a good idea. He asks for prepayment, then disappears without doing the work.

Ask yourself: Do you know this company, or have you seen proof it’s legitimate? A professional should be willing to provide references, ID or a business card – and let you pay after the job is completed.

7. Medical scam
You get an unsolicited call about a discounted price for a piece of medical equipment such as a heart monitor, wheelchair or bathtub bench. You’re asked for a deposit and your personal information or Medicare number to send the equipment, but the equipment never shows up, and now the information you may have given them could be used to commit identity theft.

Ask yourself: Did you request this product, or are they contacting you out of the blue? Before giving any medical or insurance information, check with your doctor or health plan provider directly.

8. Foreclosure scam
You’re approached by a “professional” who claims your home is under threat of foreclosure and offers to pay off your mortgage or taxes if you sign over the deed to the property. Once they have the deed, the fraudster can refinance your home, take out loans in your name or sell the property and keep the money. Keep in mind, even if you sign over a deed to someone, you are still liable for your mortgage obligations.

Ask yourself: Is this offer coming from your bank, lender or a verified legal source? Don’t sign anything until you’ve spoken with your mortgage company or a housing counselor you trust.

9. Caregiver and sweetheart scam
Some fraudsters build close personal relationships, such as caregivers, romantic partners or trusted friends. Over time, they gain access to your finances, online accounts or legal documents under the appearance of helping. In many cases, this manipulation is slow and emotional. You may not realize it’s a scam until money is missing or debt has been taken out in your name.

Ask yourself: Has this person asked for access to your bank account, online passwords or power of attorney? Or are they always asking for help, even though you’ve never seen them in person and they claim to live far away?

10. Title company scam
Before purchasing or closing on a new property, a scammer intercepts an email from your real estate agent or title company. They send fake payment instructions to steal your closing funds. Watch for last-minute changes, unfamiliar email addresses or payment requests that feel off.

Ask yourself: Does this match what your agent told you? When in doubt, call them directly using a number you already trust.

You can tell your agent and the title company that you will not accept changes to payment instructions by email. Agree on how you’ll verify any changes, just in case.

These scams are common and widespread. But speaking with trusted loved ones or your financial professional before making decisions can help you avoid these traps. Additionally, keep in mind these tips for staying safe:

• Consider placing a freeze on your credit with all three major credit bureaus. This makes it harder for bad actors to open new accounts in your name.
• Don’t pay for things you don’t remember ordering. 
• Don’t give your personal information to unknown third parties.
• Work with financial institutions that use fraud protection to safeguard your credit card and banking information.
• Don’t click links in the body of suspicious emails, especially if they claim to come from your bank, credit card company, real estate agent or title company. Instead, log in to the company’s official website or call them directly to verify.
• Don’t let strangers into your house. Instead, ask for a business card and say your spouse, kids or lawyer will be in touch.
• Be wary of caregivers and suitors, especially if you notice signs of substance abuse or other red flags.
• Limit the purchases and donations you make by check, which may list your home address or other key data.

If you suspect you’ve fallen victim to a scam or that your identity has been compromised, it’s time to act. Report the incident to your advisor or financial institution right away to help protect your accounts, and consult identitytheft.gov to see the Federal Trade Commission’s recommendations for critical next steps. Additionally, reporting cybercrime to the FBI can help federal agencies respond quicker and more effectively to threats.

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.

From the Desk of Dale Crossley and Evan Shear | Q4 2025

We hope this final issue of The Journey for 2025 finds you and your loved ones well. As the holiday season unfolds, it’s a natural time to reflect on the past year and express our gratitude, especially in a year that has been challenging for so many. As a firm dedicated to trusted, long-term financial planning, we are profoundly grateful for the milestones we’ve reached with you.

Below are some highlights from 2025, the accomplishments we’re celebrating, and the ways we’re giving back.

First and Foremost: Thank You to Our Clients

We cannot adequately express how grateful we are for every single one of our clients. The trust you place in us is never taken for granted. Our life’s passion is helping you create and maintain a solid plan that protects your financial future and supports the people who matter most to you.

We are inspired by your success stories. Whether it’s sending children to college debt-free, purchasing the vacation home you’ve dreamed of, or reaching long-awaited retirement goals, your achievements give our work purpose every single day.

Expanding Our Advisory Team: Merging with Halifax Wealth Management

This summer, we merged with Halifax Wealth Management, welcoming Andrew Hall and Rae Ann Bennett to our team. Andy brings more than 30 years of financial planning experience, making him an exceptional addition who will help our clients continue to thrive.

This strategic merger brings together two practices deeply committed to client-centric care, transparency, and continuous learning. We’re confident this partnership will elevate the service we deliver, strengthening support for both our existing clients and the Halifax community.

Milestones in Asset Management

This year, we added over $170 million in client assets, helping us reach a significant milestone:

We now manage more than $1 billion in assets.

This accomplishment reflects the trust our clients place in us and reinforces our commitment to disciplined, long-term portfolio management.

Award-Winning Financial Advisory Services

Congratulations to Evan Shear on once again being named to the Raymond James Chairman's Council and recognized as a Forbes Best-in-State Wealth Advisor for Florida. These honors reflect Evan’s exceptional leadership and our entire team’s dedication to delivering client-first, fiduciary financial planning and wealth management services.

We’re also pleased to share that Dale Crossley earned the Certified Wealth Strategist® designation from the Cannon Financial Institute, a reflection of our commitment to continuous learning and professional excellence.

Welcoming a New Team Member

Beyond our merger, we are thrilled to welcome Halle Harkins as our new Client Concierge. Halle brings warmth, kindness, and a love for nature and the arts. We know you’ll enjoy seeing her smiling face when you visit or speak with her on the phone.

Our 2025 Charitable Giving

One of our favorite yearly initiatives is donating to charities selected by each member of our team on your behalf. Our goal is to support meaningful causes across a wide range of needs within our community and beyond.
This year’s organizations include:

•  321 Empowerment Youth Organization: helping youth build life skills and pursue passions.
• The Alzheimer's & Dementia Resource Center (ADRC).
• St. Jude Children's Research Hospital
• The Scott Hamilton SCARES Foundation—Sk8 to Eliminate Cancer.
• Helping Animals Live and Overcome No-Kill Rescue Shelter.
• Second Harvest Food Bank of Central Florida.
• Green Horizon Land Trust.
• Cudas UnHooked—New Smyrna Beach: supporting at-risk and homeless students in New Smyrna Beach.
• Matthew's Hope Ministries: providing essential resources and services to unhoused people.
• The American Library Association.

We are grateful to be in a position to give generously and make an impact.

We’re Here for You

As always, we are here to help. Whether you need support with wealth or asset management, retirement planning, or comprehensive financial advisory services. Thank you for your trust and partnership throughout 2025. We look forward to continuing the journey together in the year ahead.

The Forbes Best-in-State Wealth Advisors 2025 ranking, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. This ranking is based upon the period from 6/30/2023 to 6/30/2024 and was released on 4/8/2025. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weighs factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 48,944 nominations, roughly 9,722 advisors received the award. This ranking is not indicative of an advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Compensation provided for using the rating. Raymond James is not affiliated with Forbes or Shook Research, LLC. Please visit https://www.forbes.com/best-in-state-wealth-advisors/ for more info.

Any opinions are those of CrossleyShear Wealth Management and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.

There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. All opinions are as of this date and are subject to change without notice. Past performance is not a guarantee of future results.