Nerd's Eye View

JANUARY 26, 2024

The survey also suggests that a firm's tech stack can affect its ability to attract and retain clients, with 93% of advisors who said they work with state-of-the-art technology reporting that they have added new clients as a result of another firm's bad technology, and 58% of all advisors surveyed reporting they had lost new business due to bad technology. (..)

Financial Planner 234

Financial Planner Retirement Planning Financial Advisor Retirement 234

Nerd's Eye View

JANUARY 12, 2023

In our 103rd episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the challenges of finding an optimal balance between proactively providing value and the consistency of simply being available to respond to clients when they come to their advisor for assistance. and gaining their trust.

Clients 219

Clients Communication Fee Only Financial Advisor 219

Nerd's Eye View

SEPTEMBER 13, 2024

Also in industry news this week: A CFP Board study indicates that financial planners with the certification earn 10% more than other advisors and show very high levels of career satisfaction A Morningstar study has identified 4 main areas where investors find value from their financial advisors, which might not match an advisor's own list of top ways (..)

Financial Planner 245

Financial Planner Compliance Fee Only Communication 245

Abnormal Returns

AUGUST 23, 2023

(wealthfoundme.com) More families are at risk from estate taxes looking out into 2025 and beyond. humbledollar.com) Why QCDs can be so valuable, tax-wise. time.com) Family Communicating about money with your partner never really ends. wsj.com) It's understandable why people put off estate planning.

Estate Planning 246

Estate Planning Retirement Communication Taxes 246

Abnormal Returns

DECEMBER 5, 2022

riabiz.com) Communication Having a public presence can be scary for advisers. advisorperspectives.com) IRAs Why asset location matters from a tax-perspective. (cnbc.com) Startup 401(k) provider Blooom has abruptly closed its doors. wealthmanagement.com) Should you write your clients an annual letter?

Financial Planner 246

Financial Planner Estate Planning Startup Communication 246

Nerd's Eye View

NOVEMBER 21, 2022

However, by creating a systematic annual process to monitor and update client plans based on seasons, not only can advisors save time and work more efficiently, but they can also communicate the value of ongoing financial planning services to prospects and clients more effectively.

Financial Planning 222

Financial Planning Planning Estate Planning Clients 222

Nerd's Eye View

OCTOBER 5, 2023

For many financial advisors, financial planning advice traditionally focuses on optimization: tax-efficient, continually rebalanced portfolios are often designed to maximize a client's wealth throughout retirement.

Clients 244

Clients Financial Planning Communication Financial Advisor 244

Nerd's Eye View

NOVEMBER 28, 2024

Still others may choose a hybrid model, combining AUM fees with additional charges for other services like tax planning. Others may align with broader industry trends, like transitioning to fee-only structures to buffer against market volatility.

Clients 246

Clients Financial Planner Fee Only Financial Planning 246

Don Connelly & Associates

DECEMBER 16, 2024

Whether planning for retirement, investing in volatile markets, or managing tax implications, clients are often presented with intricate information that can leave them overwhelmed, confused, and anxious, undermining their ability to make informed decisions.

Communication 52

Communication Financial Advisor Financial Planning Clients 52

Abnormal Returns

DECEMBER 30, 2024

(downtownjoshbrown.com) Five big compliance trends in 2024 including fines for off-channel communications. thinkadvisor.com) How advisers are lowering their taxes on the sale of their businesses. financial-planning.com) How to use tech to scale your practice and become 'more human.'

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Nerd's Eye View

MAY 31, 2024

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.

Financial Planner 200

Financial Planner Ethics Taxes Financial Advisor 200

Nerd's Eye View

JANUARY 22, 2024

For example, an advisor may think of "risk management" in terms of life and property insurance coverage, whereas HNW clients may instead think of tax and estate-planning strategies as asset protection measures – particularly for the future wealth of their heirs.

Financial Advisor 232

Financial Advisor Insurance Coverage Charitable Planning Estate Planning 232

Nerd's Eye View

JULY 8, 2024

interest rates, and relatively little new tax legislation (yet). Additionally, the upcoming Kitces Value Summit, coming December 12 , 2024, will tackle how real advisors provide and communicate their ongoing value to their clients.

Ethics 202

Ethics Education Financial Advice Taxes 202

Nerd's Eye View

NOVEMBER 29, 2024

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?).

Financial Planner 246

Financial Planner Financial Advice Retirement Financial Advisor 246

Darrow Wealth Management

NOVEMBER 17, 2022

In November 2022, proponents of the Massachusetts ‘millionaires’ tax (question 1) won their bid to nearly double the income tax rate on individuals with taxable income over $1M a year. As proposed, the new legislation would increase these tax rates to 9% and perhaps even 16% , respectively, starting in 2023.

Taxes 94

Taxes Wealth Management Tax Planning Planning 94

Nerd's Eye View

JUNE 7, 2024

Also in industry news this week: Backers announced the new Texas Stock Exchange, which seeks to provide companies with a lower-cost alternative to the NYSE and Nasdaq, which, if successful, could create a more competitive landscape and potentially better execution and reduced trading costs for financial advisors and their clients The American College (..)

Financial Planner 185

Financial Planner Financial Advisor Certification Estate Planning 185

Carson Wealth

JANUARY 25, 2023

Mike Valenti, CPA, CFP ® , Director of Tax Planning Tom Fridrich, JD, CLU, ChFC ® , Senior Wealth Planner It’s January, so it’s officially tax season! One of the most common client questions heard by tax preparers is, “So, what do you need from me?” This can result in additional tax owed, plus penalties and interest.

Taxes 98

Taxes Medical Distribution Accounting 98

Darrow Wealth Management

JULY 1, 2024

The 2017 Tax Cuts and Jobs Act (TCJA) brought sweeping changes to the tax code, impacting every taxpayer and business owner. Here’s a summary of the major tax law changes coming in 2026 and some steps individuals and business owners can take to prepare. For some, this may lead to more taxes paid on capital gains.

Taxes 87

Taxes Tax Planning Planning Estate Planning 87

Nerd's Eye View

SEPTEMBER 21, 2023

In our 121st episode of Kitces & Carl, Michael Kitces and client communication expert Carl Richards discuss the importance for advisors to advertise their expertise, and whether focusing on providing exceptional work can be enough to attract and acquire clients to sustain a healthy and remunerative business.

Advertising 242

Advertising Clients Communication Financial Advisor 242

Nerd's Eye View

APRIL 7, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the T3/Inside Information Software Survey is available, providing insights into which technology tools advisors use and their level of satisfaction with them, which highlighted the continued rise of specialized financial planning (..)

Financial Planner 239

Financial Planner Ethics Financial Advisor Clients 239

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 130

Financial Advisor Insurance Tax Planning Taxes 130

Nerd's Eye View

MAY 16, 2023

In this episode, we talk in-depth about how, despite not implementing an AUM model, Jim’s firm was independently valued at $31 million of enterprise value based on the strength and growth rate of their retainer-based pricing model, how Jim arrived at his retainer-based model that charges $4,000, $6,000, or $10,000 per month to cover the breadth (..)

Valuation 238

Valuation Financial Advisor Financial Planning Recruitment 238

Nerd's Eye View

APRIL 25, 2023

We also talk about why Ari and his firm have leaned into values-based investing to further differentiate with their unique clientele not by utilizing ESG funds, but instead choosing ETFs that are more proactive with their proxy voting, and implementing Ethic Investing to offer clients a 'Personalized Indexing' approach while also capitalizing on the (..)

Management 246

Management Financial Advisor Clients Ethics 246

Nerd's Eye View

JULY 12, 2024

Also in industry news this week: 2 House committees this week advanced legislation that would halt implementation of the Department of Labor's new Retirement Security Rule, which, combined with ongoing lawsuits, threaten to derail the regulation either before or soon after it becomes effective in late September A Federal judge has put the future of (..)

Financial Planner 184

Financial Planner Tax Planning Clients Accounting 184

Darrow Wealth Management

JULY 30, 2024

For founders, employees, and executives with stock-based compensation, an 83(b) election can be a powerful tax planning tool. When you make an 83(b) election, you’re opting to pay tax on unvested shares now, instead of when the stock vests. In tax lingo, this is known as substantial risk of forfeiture.

Taxes 77

Taxes Tax Planning Startup Valuation 77

Abnormal Returns

OCTOBER 17, 2022

(thinkadvisor.com) Advisers How to set expectations with clients about communication. riabiz.com) Communication matters when it comes to understanding benefits, like Social Security. riabiz.com) Communication matters when it comes to understanding benefits, like Social Security. It seems so. bloomberg.com).

Wealth Management 130

Wealth Management Financial Advisor Communication Financial Advice 130

Abnormal Returns

MARCH 6, 2023

morningstar.com) Brendan Frazier talks with Ted Klontz about how to better motivate, communicate and connect with clients and prospects. etftrends.com) Expiring tax breaks make planning all the more challenging. kitces.com) A Q&A with Tyrone Ross, founder and president of 401 Financial, about bucking industry norms.

Compliance 147

Compliance Wealth Management CFP Financial Advice 147

Nerd's Eye View

NOVEMBER 20, 2024

These 2 communications suggested that advisers have differing responsibilities depending on whether they are responsible for selecting broker-dealers and executing client trades, which suggests that advisers that have not accepted the responsibility to select custodial broker-dealers on behalf of the client (e.g.,

Fiduciary Duty 218

Fiduciary Duty Clients Commission Accounting 218

Harness Wealth

SEPTEMBER 23, 2024

Key Takeaways: CRM system centralizes all client and prospect information, helping tax firms manage client interactions and replacing manual systems like spreadsheets. Table of Contents: The Basics: What is a CRM?

Taxes 52

Taxes Clients Management Communication 52

Nerd's Eye View

NOVEMBER 22, 2022

Read More.

Financial Advisor 225

Financial Advisor Clients Insurance Wealth Advisor 225

Abnormal Returns

JANUARY 23, 2023

Podcasts Christine Benz and Jeff Ptak talk taxes with Jeffrey Levine, chief planning officer for Buckingham Strategic Wealth. standarddeviationspod.com) Brendan Frazier talks building communication skills with Jim Grubman. morningstar.com) Daniel Crosby talks with Derek Hagen about living a life of intention and mindfulness.

Wealth Management 130

Wealth Management Financial Advising CFP Communication 130

Darrow Wealth Management

MARCH 24, 2024

6 tax strategies for incentive stock options and AMT Triggering the alternative minimum tax isn’t the end of the world, but you don’t want to do it by accident. Exercise ISOs early in the year to manage or avoid AMT To get long-term capital gains tax treatment, you need to hold ISOs through the end of the year of exercise.

Taxes 59

Taxes Tax Planning Planning Financial Advisor 59

Integrity Financial Planning

AUGUST 28, 2022

If you don’t, these assets will likely be paid to your probate estate, possibly triggering income tax. Communicate, Communicate, Communicate. Communicate, Communicate, Communicate. Whether you have a will or a trust, it’s also important to explain why you’re making the decisions you are.

Estate Planning 98

Estate Planning Planning Communication Retirement 98

Harness Wealth

JUNE 5, 2024

“Until I found Harness, starting my own tax practice wasn’t an option that I was seriously considering.” Due to Mr. Maddox’s relationship with Harness as a tax adviser on the platform, material conflicts of interest may arise. Maddox’s relationship with Harness as a tax adviser on the platform, material conflicts of interest may arise.

Taxes 64

Taxes Clients Planning Tax Planning 64

Darrow Wealth Management

NOVEMBER 14, 2024

Tax implications of exercising and selling stock options If you have stock options as a large part of your income, taxes are especially important. How stock options are taxed depends on the type of options you have and your sale and exercise strategy. However, that doesn’t mean you won’t need to pay taxes!

Taxes 52

Taxes Sales Wealth Management Planning 52

Harness Wealth

SEPTEMBER 23, 2024

Key Takeaways: Too many tax practices are bogged down in commoditized administrative tasks and compliance work, making it challenging to cross-sell services to expand client relationships. Take an inventory of how your practice spends time Reflect on how your own tax practice spends the bulk of its time.

Taxes 52

Taxes Clients Compliance Tax Planning 52

Harness Wealth

OCTOBER 2, 2024

To attract new clients and foster long-term relationships, tax advisors could consider adopting digital marketing strategies. It’s also an important touchpoint to introduce your tax practice’s staff to potential clients, giving you to potential build a personal relationship from the start.

Taxes 52

Taxes Tax Planning Marketing Marketing 52