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Almost every financialplanning issue – whether it is retirement, investments, cash flow, insurance, or estate planning – has tax considerations, and advisors provide a great deal of value in helping clients minimize their overall tax burden.
When it comes to focusing on a niche for financialadvisors, business owner clients can be an appealing target as they can have complex financialplanning problems ranging from cash flow management to taxplanning to acquisition strategies.
Welcome to the 412th episode of the FinancialAdvisor Success Podcast ! Anjali is the Founder of FIT Advisors, an RIA based in Torrance, California (but works virtually with clients nationwide) and oversees $65 million in assets under management for 45 client households. Welcome everyone!
Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financialadvisors including topics covering technical planning, practice management, advisor marketing, career development, and more.
As comprehensive financialplanning has become more widely adopted, many financialadvisors have felt pressure to find new ways to differentiate themselves by demonstrating their unique value to clients.
will require the same level of urgency to consider before year-end changes to clients’ plans as did the original SECURE Act or have the same level of impact across so many clients’ plans as the elimination of the stretch, there are far more provisions in SECURE 2.0 Read More.
will require the same level of urgency to consider before year-end changes to clients’ plans as did the original SECURE Act, nor will it have the same level of impact across so many clients’ plans as the elimination of the stretch, there are far more provisions in SECURE 2.0 Read More.
Tax-loss harvesting – i.e., selling investments at a loss to capture a tax deduction while re-investing the proceeds to maintain market exposure – is a popular strategy for financialadvisors to increase their clients’ after-tax investment returns. With these three tools (i.e.,
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. Notably, certain client assets have built-in creditor protection without the use of (often expensive) products or tools. For instance, qualified plan assets (e.g.,
Welcome to the October 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 financialadvisors!
In this guest post, Kathleen Rehl, a semi-retired financialadvisor and educator now focusing on her own estate planning considerations, shares her experience with creating her "Legacy IRA" rollover to a Charitable Gift Annuity to support her chosen nonprofits after Congress passed the SECURE 2.0 But the SECURE 2.0 Read More.
Welcome back to the 289th episode of the FinancialAdvisor Success Podcast ! Kamila is the CEO and Founder of Collective Wealth Partners, an independent RIA based in Atlanta, Georgia, that oversees nearly $25 million in assets under management for almost 175 client households. My guest on today's podcast is Kamila Elliott.
Welcome to the 421st episode of the FinancialAdvisor Success Podcast ! Daniel is the CEO of WMGNA, a hybrid advisory firm based in Farmington, Connecticut, that oversees approximately $270 million in assets under management for 200 client households. Welcome everyone! My guest on today's podcast is Daniel Friedman.
At the same time, they also overwhelmingly recognize the value of financialadvisors , not only for increasing their wealth beyond what they could have achieved on their own , but also for helping them feel more prepared and less stressed about their finances!
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the shift in financial advice from pure investment management to comprehensive financialplanning continues, with more individuals becoming CFP professionals than CFAs in the past few years as consumers increasing the diversity (..)
Welcome back to the 297th episode of the FinancialAdvisor Success Podcast ! Andy is the owner of Tenon Financial, a virtual independent RIA that oversees $70 million in assets under management for 43 retired client households. My guest on today's podcast is Andy Panko.
Also in industry news this week: A coalition of organizations representing financialadvisors is pressing Congress to include tax breaks for financial advisory fees amidst expected negotiations to address the pending expiration of several provisions of the Tax Cuts and Jobs Act A recent survey indicates that client referrals remain the chief source (..)
Financialplanning and taxplanning go hand in hand. Including taxplanning as part of your service provides clients a comprehensive view of their finances and helps them achieve their financial goals. In addition, we can be confident that tax rates will continue to ebb and flower over time.
Going beyond FPA’s existing PlannerSearch tool, the narrowed-down list is meant to help consumers identify a focused subset of the most reputable planners.
Podcasts Brendan Frazier on how your clients change will inevitably over time. wiredplanning.com) Michael Kitces talks with Jon Henderson who is the Founder and CIO for Echo45 Advisors about building a tech stack for a breakaway advisory firm. papers.ssrn.com) Taxes A 2023 year-end taxplanning guide.
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent survey indicates that clients of financialadvisors are more confident than others about their financial preparedness for retirement and are more likely to have a financialplan in place that can weather the ups (..)
For instance, the financial advice industry has seen many changes to regulations (for both advisors and their clients), advisor business models, and the advisor technology landscape. The changing patterns in how financial advice is delivered can be compared to the similar trends seen in the evolution of medicine.
Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financialadvisors including topics covering technical planning, practice management, advisor marketing, career development, and more.
Traditionally, financial advice and tax preparation have existed as 2 related, but separate, services. Besides the fact that many financialadvisors don’t hold the necessary credentials (e.g.,
Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that recent surveys indicate that consumers continue to trust human financialadvisors more than Artificial Intelligence (AI)-powered tools.
Of the many provisions in the bill, the so-called "Death of the Stretch" arguably received the lion's share of consternation from the financialadvisor community. This shift has led financialadvisors to explore new strategies for mitigating the resulting tax-planning challenges.
Notably, while the rule will create an additional compliance burden, the due diligence advisers offering comprehensive planning services (as well as their investment custodians) are likely already conducting on their clients to create an effective financialplan could be a 'defense mechanism' for these firms against criminals looking to take advantage (..)
Many financialadvisors start their own firm because of an entrepreneurial itch, a desire to work with a specific type of client, or perhaps because they want to have more control over their work life. Nonetheless, one group of advisors reported more marketing success than others: those serving client niches.
There are many taxplanning strategies that allow financialadvisors to demonstrate the ongoing value they provide to clients in exchange for the fees they charge. The backdoor Roth strategy can be valuable for clients whose high income levels preclude them from making regular contributions to a Roth IRA.
podcasts.apple.com) Daniel Crosby talks the racial wealth grap with Adam Tolliver who is a Partner FinancialAdvisor at Artisan Financial Strategies. theirrelevantinvestor.com) How client expectations are changing. advisorperspectives.com) A three-part approach to developing a 'statement of financial purpose.'
Welcome to the October 2023 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 financialadvisors!
The 2024 Technology Tools for Today (T3) Advisor Conference, held last month in Las Vegas, Nevada, featured a large gathering of financialadvisors and representatives from across the fintech industry. Likewise, while CRM usage has slipped by about 5%, the overall number of advisors who use a CRM still remains at a dominant 92%.
standarddeviationspod.com) Brendan Frazier talks with Jeremy Keil, advisor at Keil Financial Partners, about guiding client conversations. investmentnews.com) Taxplanning Why financial advisers need to be careful when offering tax advice. kitces.com) Taxplanning is an ongoing process.
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Since building strong relationships is a core element of providing financial advice, a financialadvisor CRM ( c lient r elationship m anagement) system may be the most essential technology tool available for financial advisory firms. The average advisor serves 156 clients. What is CRM? Why You Need a CRM.
(standarddeviationspod.com) Michael Kitces talks with Lisa Brown who is a Partner and Wealth Advisor for CI Brightworth about finding your ideal clients. thinkadvisor.com) Taxes Some steps you can take to upgrade your tax-planning game.
Develop a risk management plan to implement strategies that minimize or eliminate risks, and protect your business with appropriate insurance coverage, such as liability, property and business interruption insurance. Get Help with TaxPlanningTaxplanning is a critical component of financial management.
As a whole, these regulations introduce significantly more complexity to the process of taxplanning around retirement accounts, particularly after the death of the account's original owner.
“I want to upgrade my client base and work with ultra high net worth individuals and Family Office clients. It depends on how high you go, but in some cases these types of clients function more as institutions than an as individuals – and their needs reflect that. How do I meet them?” That is the first step.
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