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Weekend Reading For Financial Planners (December 28–29)

Nerd's Eye View

The report suggests this might be due in part to increased RIA valuations and the assumption of some firm founders that next-generation employees won't be financially able to buy out the firm from them, though additional data indicates that many firms don't have career paths in place that could help next-generation advisors envision their path to firm (..)

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One-time and Ongoing Services to Offer Under the Fee-for-Service Model

AdvicePay

With the fee-for-service model, you can customize service offerings for clients seeking advice who don’t (yet) have traditional portfolio assets to transfer to your firm’s custodian for full-time management. This approach allows you to engage these clients by charging a fee that’s covered through their monthly cash flow.

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4 Pitfalls of Not Having a Financial Plan

Carson Wealth

Investment strategy: Determine asset allocation and investment vehicles aligned with risk tolerance and financial goals. Retirement planning: Calculate retirement needs and contribute regularly to retirement accounts. What Could Happen if You Don’t Have a Financial Plan? Let’s break each one down.

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The 5 Pillars of Retirement Planning You Should Be Aware of

WiserAdvisor

At its core, investment planning ensures that your financial resources are strategically allocated to various asset classes in accordance with your risk tolerance and investment objectives. Another important aspect of investment planning is its role in combating inflation. This makes them a valuable tool for tax planning.

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Serving Clients at All Stages of the Financial Planning Lifecycle Effectively and Efficiently

eMoney Advisor

According to a Fidelity study, 45 percent of younger investors are more inclined to consolidate their assets with one advisor as opposed to spreading assets across multiple advisors. Due to that, your service should focus on holistic planning and interactive scenario planning during this stage.

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How smart planning can reduce your taxes?

Truemind Capital

This happens due to a lack of knowledge regarding different investment options and the absence of tax planning. Never ever invest in products that are a mix of insurance and investments. Insurance is needed when you have dependents and do not have sufficient assets to take care of them in case of any mishap.

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Why Should You Care About Financial Planning?

Workable Wealth

Financial planning can give you the tools, resources, and confidence to conduct your financial life on solid footing. A financial plan looks at your assets and liabilities, short-term and long-term needs, as well as your goals to structure your finances in a way that suits you. Improper risk management and insurance coverage.