Nerd's Eye View

DECEMBER 30, 2024

We start with several articles on retirement planning: Why considering a client's retirement time horizon and spending flexibility could lead to more accurate (and often higher) safe withdrawal rates than the simpler "4% rule" Four unique risks retirees face when drawing down their assets, from sequence of returns risk to tax risk, and how financial (..)

Financial Advisor 240

Financial Advisor Insurance Tax Planning Taxes 240

Nerd's Eye View

MARCH 3, 2025

And while Black Diamond has cut a deal with Morningstar to be the 'default' option for Office advisors to move to, a host of other portfolio management platforms are offering their own incentives as well, leaving Morningstar Office advisors with an opportunity to evaluate a large and crowded landscape of options to find the platform that will work (..)

Estate Planning 173

Estate Planning Portfolio Management Communication Planning 173

Nerd's Eye View

JANUARY 23, 2025

In the 156th episode of Kitces & Carl , Michael Kitces and client communication expert Carl Richards discuss how they use AI tools such as ChatGPT to expedite their creative and strategic processes – and how to ‘ask’ ChatGPT better questions to get more effective and relevant answers. Read More.

Financial Advisor 244

Financial Advisor Clients Communication Financial Planning 244

Nerd's Eye View

APRIL 29, 2024

Financial advisors add value for their clients not only by helping them grow their wealth, but also by working with them to create a plan for how to use it. While much of this process may focus on the client's own lifetime planning needs (e.g., With this in mind, many financial advisors offer estate planning guidance to clients.

Estate Planning 246

Estate Planning Clients Planning Financial Advisor 246

Harness Wealth

MARCH 14, 2025

For many small tax firms, the process of collecting client tax documents can be a time-consuming and a prolonged process. The good news is that technology solutions, like Harness, can streamline document collection and transform the way tax professionals work. Client experience is another area where manual processes fall short.

Taxes 52

Taxes Compliance Tax Planning Clients 52

Wealth Management

JULY 26, 2023

New York court allows minority owner to obtain information despite attorney-client privilege.

Clients 246

Clients 246

Nerd's Eye View

JANUARY 24, 2024

The need to address longevity risk has become increasingly important, allowing financial advisors to add even more value for their clients by ensuring that their financial needs are met throughout retirement. Unfortunately, nearly half of all U.S. states do not consider POAs to be durable (i.e., Read More.

Clients 246

Clients Estate Planning Accounting Planning 246

Nerd's Eye View

APRIL 26, 2023

The 1st category of tasks that advisory firms must handle involves renewing their registration with the applicable state(s) in which they do business each year, which typically involves submitting select documents (e.g., Read More.

Compliance 246

Compliance Clients Advertising Accounting 246

Nerd's Eye View

APRIL 26, 2023

The 1st category of tasks that advisory firms must handle involves renewing their registration with the applicable state(s) in which they do business each year, which typically involves submitting select documents (e.g., Read More.

Compliance 246

Compliance Clients Accounting Advertising 246

Wealth Management

JUNE 27, 2023

Wealth.com's Ester is a proprietary model that can read and restate documents and hold both short and long-term memories of previous client actions.

Estate Planning 307

Estate Planning Planning Clients 307

Wealth Management

AUGUST 16, 2023

authorities of information—and personal identification documentation—concerning beneficial ownership of nearly all U.S. The CTA broadens reporting to U.S. companies as well as foreign companies doing business in America.

Clients 246

Clients 246

Nerd's Eye View

FEBRUARY 20, 2025

Many financial advisors approach prospect meetings with a mindset of giving potential clients ample space to consider the relationship before making any commitments. For example, the advisor may frame a second meeting as an opportunity to review documents while having paperwork ready for those who are still ready to proceed.

Clients 147

Clients Communication Financial Advisor Planning 147

Nerd's Eye View

OCTOBER 25, 2024

Nonetheless, given Kitces Research findings that being 'too' comprehensive can eat into a firm's bottom line, advisors might seek a 'sweet spot' of providing a comprehensive slate of services (but not necessarily every possible service) that are most valuable for their ideal target client.

Financial Planner 246

Financial Planner Financial Advisor Estate Planning Compliance 246

Million Dollar Round Table (MDRT)

FEBRUARY 16, 2025

My guess is your clients wouldnt keep shopping with or going to a business where they didnt like the products or how theyre treated, no matter how low the prices are. Instead, showcase your high value to clients and the benefits of working with a full-service firm like yours. He felt the firm did not care if they lost clients.

Clients 68

Clients Banking Financial Advisor Investing 68

Nerd's Eye View

APRIL 3, 2023

million in seed funding to support its growth as it builds out its "end-to-end" financial planning and advice engagement platform (but will it be able to replace, rather than augment, advisors' existing financial planning software?)

Estate Planning 246

Estate Planning Financial Planning Wealth Management Clients 246

Nerd's Eye View

AUGUST 7, 2023

This month's edition kicks off with the news that estate planning platform Wealth.com has launched Ester, an AI-driven 'legal assistant' that uses machine learning to help advisors quickly review and extract the key information from clients' estate planning documents, as it joins FP Alpha in the competition to become 'Holistiplan for estate planning (..)

Estate Planning 246

Estate Planning Wealth Management Financial Advisor Planning 246

Nerd's Eye View

NOVEMBER 29, 2023

The traditional way that most financial planning has been offered was for an advisor to create "The Plan": a comprehensive document outlining a client's financial strategy that was delivered either on a one-time basis or updated annually.

Planning 246

Planning Financial Planning Clients Communication 246

Nerd's Eye View

JANUARY 29, 2025

As a foundational document, the operating agreement is essential for RIA firms. A firm focused on building a legacy business with multi-generational clients may prioritize stability and sustainable growth, while one preparing for rapid scaling or a future sale may adopt a more aggressive approach to management and profit distributions.

Distribution 130

Distribution Government Financial Advice Planning 130

Nerd's Eye View

JANUARY 29, 2025

As a foundational document, the operating agreement is essential for RIA firms. A firm focused on building a legacy business with multi-generational clients may prioritize stability and sustainable growth, while one preparing for rapid scaling or a future sale may adopt a more aggressive approach to management and profit distributions.

Distribution 130

Distribution Government Financial Advice Planning 130

Nerd's Eye View

AUGUST 7, 2024

Notably, an asset-by-asset approach to estate planning isn't 'just' about drafting documents like wills or trusts; it requires full knowledge of the client and the details of their (and their beneficiaries') financial, tax, and overall life circumstances.

Estate Planning 246

Estate Planning Taxes Assets Planning 246

Indigo Marketing Agency

SEPTEMBER 16, 2023

Among the plethora of platforms available, LinkedIn has emerged as a goldmine for financial advisors seeking to promote their services and engage with potential clients. LinkedIn Documents. With the potential to share extensive documents, incorporating LinkedIn Documents into your marketing strategy can be a game-changer.

Marketing 97

Marketing Marketing Education Clients 97

Nerd's Eye View

AUGUST 24, 2022

Advisory agreements for Registered Investment Advisers (RIAs) contain many sections that are important both for the purposes of complying with SEC and state securities regulations, and for constituting a valid agreement between the RIA and the client. The agreement should also lay out some acknowledgments for the client to review.

Electronics 242

Electronics Clients Retirement Planning Financial Advice 242

Nerd's Eye View

AUGUST 24, 2022

Advisory agreements for Registered Investment Advisers (RIAs) contain many sections that are important both for the purposes of complying with SEC and state securities regulations, and for constituting a valid agreement between the RIA and the client. The agreement should also lay out some acknowledgments for the client to review.

Electronics 238

Electronics Clients Retirement Planning Financial Advice 238

Nerd's Eye View

JUNE 13, 2023

Danika is the President and Founder for Xena Financial Planning, a virtual advisory firm that advises 40 client households of women in tech and supports more than $275K of ongoing revenue. Welcome back to the 337th episode of the Financial Advisor Success Podcast ! My guest on today's podcast is Danika Waddell.

Financial Advisor 246

Financial Advisor Clients Startup Financial Planning 246

Nerd's Eye View

JANUARY 24, 2024

The need to address longevity risk has become increasingly important, allowing financial advisors to add even more value for their clients by ensuring that their financial needs are met throughout retirement. Unfortunately, nearly half of all U.S. states do not consider POAs to be durable (i.e., Read More.

Estate Planning 246

Estate Planning Accounting Clients Planning 246

Carson Wealth

JANUARY 25, 2023

One of the most common client questions heard by tax preparers is, “So, what do you need from me?” Adhering to their timeline and providing documents in the instructed manner (such as through a client portal or a secure drop box) will reduce any back and forth and minimize the chance that your preparer misses something you already provided.

Taxes 98

Taxes Medical Distribution Accounting 98

Nerd's Eye View

NOVEMBER 22, 2023

Once they are comfortable with the information and documents that have been shared, they can sign a Letter Of Intent that, while still high-level, provides enough detail about the proposed transaction for the seller to make an informed decision about whether to proceed.

Compliance 246

Compliance Sales Financial Advisor Financial Planning 246

Nerd's Eye View

MAY 5, 2023

Also in industry news this week: Legislation working its way through Congress would allow for electronic delivery of documents to clients of advisors and other financial services firms by default, though it has been met with some opposition While RIAs have outpaced wirehouses in terms of client asset growth and headcount, industry consolidation has (..)

Financial Planner 246

Financial Planner Financial Services Electronics Compliance 246

Nerd's Eye View

SEPTEMBER 8, 2023

Enjoy the current installment of “Weekend Reading For Financial Planners” - this week’s edition kicks off with the news that the SEC this week issued a risk alert outlining how it selects firms to examine, the areas it focuses on during exams, and how it chooses which firm documents to request, details that could ultimately help firms (..)

Financial Planner 246

Financial Planner CFP Clients Investment Planning 246

Nerd's Eye View

NOVEMBER 21, 2022

A common service model for many financial advisory firms is to schedule annual client meetings throughout the year where the advisor meets with each client in the month they started working with the firm, and conducts a comprehensive review of all planning topics for the client.

Financial Planning 244

Financial Planning Planning Estate Planning Clients 244

The Big Picture

MAY 28, 2023

A painstakingly documented new book by Jonathan Howard, a neurologist at New York University and a veteran debunker of the pseudoscience contaminating our efforts to fight the pandemic. The commingling of these funds put client assets at risk by obscuring their whereabouts. regulators said.

Accounting 299

Accounting Medical Numbers Assets 299

Nerd's Eye View

OCTOBER 25, 2023

There is a general understanding that investment advisers have a fiduciary relationship with their clients – in other words, that they are required to act in the client's best interests. These 3 components in practice make up a core part of the adviser's fiduciary duty to their clients.

Fiduciary Duty 246

Fiduciary Duty Commission Clients Accounting 246

Nerd's Eye View

AUGUST 28, 2023

The announcement of the merger between Charles Schwab and TD Ameritrade in November 2019 kicked off a marathon of preparation for advisory firms to transition their clients on the TD Ameritrade custodial platform to Schwab. Additionally, any open trade orders (e.g., Read More.

Financial Advisor 246

Financial Advisor Distribution Clients Accounting 246

FMG

JANUARY 16, 2025

Annual reviews are the backbone of client relationships, but coordinating them shouldn’t eat up your valuable time. Financial advisors are discovering that compliant texting platforms like MyRepChat can cut down review preparation time while improving client engagement. Quick Updates Not every client needs a full review.

Financial Advisor 52

Financial Advisor Clients Communication Marketing 52

Nerd's Eye View

JULY 4, 2023

Melissa is the Founder of Pearl Planning, an independent RIA based in Dexter, Michigan, that oversees more than $175 million in assets under management for 251 client households.

Financial Advisor 246

Financial Advisor CFP Clients Assets 246

Nerd's Eye View

JUNE 21, 2023

All investment advisers are fiduciaries that owe a duty of care and loyalty to their clients, and, in an ideal world, advisory firms and their staff would abide by these requirements without the need for a prescriptive code of ethics. Read More.

Ethics 244

Ethics Fiduciary Duty Compliance Clients 244

Nerd's Eye View

FEBRUARY 2, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a Morningstar survey has found that financial advisory clients are more likely to stick with their advisor for emotional reasons rather than investment returns alone.

Financial Planner 246

Financial Planner Compliance CFP Clients 246