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Welcome to the November 2024 issue of the Latest News in Financial #AdvisorTech – where we look at the big news, announcements, and underlying trends and developments that are emerging in the world of technology solutions for financial advisors!
Clients increasingly view estateplanning as a core element of holistic wealth management, not just a one-time task, according to a survey from online estateplanning platform Vanilla.
Clients increasingly view estateplanning as a core element of holistic wealth management, not just a one-time task, according to a survey from online estateplanning platform Vanilla.
In recent years, the Internal Revenue Code (IRC) has endured some drastic changes resulting from legislative action that have altered the strategies estateplanning professionals have recommended to clients. However, the passage of TCJA resulted in the estate gift tax exemption nearly doubling (from $5.6M Read More.
Which could prove to be a boon for the financial advice industry as more consumers are willing to entrust their assets to an advisor (while at the same time possibly making it tougher for some advisors to differentiate themselves primarily by how they put their clients' interests first?). Read More.
kitces.com) EstateplanningEstateplans are a big lift for everyone, including advisers themselves. kindnessfp.com) Why clients need to organize their digital assets for estateplanning purposes. riabiz.com) This money manager's ETF business was built on entertaining clients.
obliviousinvestor.com) Estateplanning Changing an estateplan takes time. wealthmanagement.com) Do your clients have a digital estateplan? (ofdollarsanddata.com) Social security Spousal claiming strategies for Social Security are nuanced. thinkadvisor.com) How to research a Social Security question.
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 (..)
As clients become increasingly aware of the complexities of wealth transfer, asset protection and legacy planning, they expect comprehensive guidance from their advisors.
(riabiz.com) A round-up of recent financial advisortech news including Holistiplan's estateplanning module. theirrelevantinvestor.com) How client expectations are changing. kitces.com) What it means to be a great adviser to retired clients. thinkadvisor.com) A year-end tax planning checklist.
The role of estateplanning is most commonly considered to be about transferring assets from one generation to the next in the most efficient manner possible (e.g., how to minimize the burden of estate taxes and avoid the public spectacle of the probate process). at age 21 or 30) or stagger distributions at multiple ages.
This month's edition kicks off with the news that digital estateplanning platform Wealth.com has raised a whopping $30 million in Series A funding, following on the heels of Vanilla's follow-on $20M capital round just a few months ago – which on the one hand reflects the anticipated enthusiasm for solutions that can help advisors efficiently (..)
Financial advisory clients are routinely concerned about lurking threats to their hard-earned wealth in the form of a large unforeseen judgment on a liability claim. While asset protection is a popular planning topic for High-Net-Worth (HNW) and ultra-high-net-worth clients, those who are not HNW are susceptible to the same threats to wealth.
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. Ultimately, the key point is that a properly drafted POA is an essential part of every estateplan. Read More.
podcasts.apple.com) Thomas Kopelman and Jacob Turner talks estateplanning for business owners. riabiz.com) Fidelity is going to restrict third party access to 401(k) client accounts. riabiz.com) Advisers How Peter Mallouk built Creative Planning into a $300 billion AUM powerhouse. riaintel.com) How advisers can overstep.
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.
Private Client Solutions will help advisors access areas of expertise beyond investment management, including tax and estateplanning and acquisition strategies.
(thinkadvisor.com) Serving UHNW clients increasingly requires specialized services. thinkadvisor.com) Advisers There are still to many clients getting conflicted advice. citywire.com) How advisers can best work with estateplanning attorneys? kitces.com) What is financial planning?
podcasts.apple.com) Michael Kitces and Carl Richards on the opportunity when clients bring you something 'off the Internet.' fwpwealth.com) Older clients likely have appreciated securities they could use to fund charitable donations. (fa-mag.com) fa-mag.com) How to use the new digital estateplanning platforms.
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