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This month's edition kicks off with the news that Holistiplan has announced the rollout of a new estate plan document extraction tool to stand alongside its highly popular tax return scanning tool – which highlights how advances in AI technology have allowed tools like Holistiplan to go beyond tax returns and scan nearly any kind of document (..)
This month's edition kicks off with the news that digital estate planning 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 (..)
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 (..)
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 (..)
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. My Sunday morning look at incompetency, corruption and policy failures: • We Want Them Infected : These ‘experts’ sold the U.S.
morningstar.com) People work in retirement for any number of reasons. wsj.com) An increasing number of retirees feel 'trapped' in their Medicare Advantage plans. nytimes.com) Why you should update your estate documents. (humbledollar.com) Christine Benz and Amy Arnott talk with Roger Young of T.
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. Sometimes life events make it impractical or too stressful to collect all the documents on time.
Also in industry news this week: The SEC this week released its list of priorities for 2025 examinations, which include advisers' use of Artificial Intelligence tools, adviser recommendations of complex investment products, and broker-dealers' compliance with Regulation Best Interest CFP Board has introduced a refreshed ad campaign encouraging students (..)
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?)
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 (..)
— NY Post I documented the idiocy and errors throughout, including the fact that critics focused, quite inappropriately, on the Seattle-Tacoma-Bellevue Metropolitan Statistical Area (MSA), an area vastly larger and more populated than the city of Seattle proper (King County). certain that the Journal got the number from BLS.
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 (..)
Moreover, even if durability is established, it's important to distinguish between an immediate POA, which is effective as soon as the document is signed, and a springing POA, which won't be effective until the grantor becomes incapacitated, and that incapacitation has been certified by a doctor as well! Unfortunately, nearly half of all U.S.
Moreover, even if durability is established, it's important to distinguish between an immediate POA, which is effective as soon as the document is signed, and a springing POA, which won't be effective until the grantor becomes incapacitated, and that incapacitation has been certified by a doctor as well! Unfortunately, nearly half of all U.S.
It can be distracting if writing styles are inconsistent within and across documents published by your firm. Style guidelines for financial services firms can help you to make your written communications more consistent and thus easier to read. Why create style guidelines for your financial services firm?
Also in industry news this week: In a new whitepaper, industry consultant Mark Hurley predicts that the environment for wealth management firms will grow much more competitive amid higher interest rates and greater PE funding of advisory firms, although opportunities exist for RIAs that can successfully attract and serve younger clients at scale According (..)
Also in industry news this week: A recent study from advisor digital marketing firm Snappy Kraken suggests firms that invest in Search Engine Optimization (SEO), have a regular cadence of emails to their subscriber list, and include video content in these messages tend to get greater returns from their marketing efforts CFP Board has created a guide (..)
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 (..)
In this episode, we talk in-depth about how a state regulator audit of Danika’s former firm revealed that she was not properly registered with the state of Washington and sparked an investigation during which she was prevented from working with her clients at the time and sidelined her for several months, how, on top of not being able to work (..)
BBC ) • What Deathbed Visions Teach Us About Living : Researchers are documenting a phenomenon that seems to help the dying, as well as those they leave behind. ( BBC ) • What Deathbed Visions Teach Us About Living : Researchers are documenting a phenomenon that seems to help the dying, as well as those they leave behind. (
Which we’ve witnessed first-hand here at Kitces.com, as the advisor community has engaged in record numbers with some of our recent articles on how best to advise clients through it all, and capitalize on the opportunities along the way.
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including: Farther raises a $15M Series A to try to make a more efficient back-office for advisors to actually be able to take home a 75% payout.
Information you’ll want to document includes: Bank accounts Investments Retirement accounts Estate planning documents (wills, trusts, etc.) But note, in order for a power of attorney (POA) document to be valid, it must be signed by your parents while they are still mentally competent.
Especially given that NewRetirement has already managed to get some sizable 401(k) providers and recordkeepers to offer the software on a paid basis to their own plan participants … which means NewRetirement is effectively getting paid to market its own advice services (a marketing funnel that pays for itself!?).
The law's provisions became effective on January 1, 2024, and so many small businesses – including a good number of RIA firms – will be required to submit a Beneficial Ownership Information (BOI) report to the Treasury Department's Financial Crimes Enforcement Network (FinCEN).
A folder on German’s desk contained court documents he’d started to gather about an alleged Ponzi scheme that left hundreds of victims – many of them Mormon – in its wake. It was obvious to a small number of analysts in this space that this was not viable. The post 50% Risk-free Annual Returns appeared first on The Big Picture.
While many RIAs have already tackled some of the bigger issues around the conversion such as informing clients of the changes and updating regulatory documents, there are still some operational intricacies in the TD Ameritrade to Schwab transition process for advisors to address that could cause headaches if they're missed.
Earlier this year, we introduced our own Investment Adviser Representative (IAR) CE programs that allow those in the growing number of states that have adopted the NASAA Model Rule to meet their 12 hours/year CE requirement.
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including: Docupace launches an ‘RIA Productivity Toolkit’ as it increasingly expands beyond its document management roots in a bid to become more of the back-office workflow engine of small-to-mid-sized advisor enterprises.
TradeLens was designed to be an industry-supported supply-chain data, document, and analytics platform that could be used by importers, exporters and anyone else involved in global trade, making use of distributed blockchain technology for its backend. The research results (Fig. Code Map of Shipping Industry Code. 2018 ; Green et al.
You may be eager to file your taxes to get your return as soon as possible, but filing before you have all your documents can actually cause delays in getting your return. It’s best to be patient and ensure that you have all the documents that you need for submitting your taxes. [1] Make sure you sign your documents!
This month's edition kicks off with the news that Pershing X has announced the launch of its long-awaited (and newly renamed) “Wove” advisor technology platform – which despite purporting to be an open-architecture, multi-custodian solution allowing advisors to smoothly integrate all the technology they choose to bring onto it, in (..)
Remember, the IRS recommends keeping tax-related documents for at least six years. Determining how long to keep financial records depends on several factors, including the record type and whether it’s for personal or business documentation. Some documentation has no expiration date, such as birth certificates and social security cards.
When team members have access to well-documented procedures and checklists, they can perform their tasks with greater assurance and accuracy. System: The final step is to document the detailed instructions about how each task is completed. Building the Team: Involves processes for attracting, training, and retaining top talent.
When you're wondering how long to keep financial records, there are documents that you will need to keep forever “just in case” they are needed. These are important documents, and there are varied reasons why you could need them. The documents that you need to file with the local registrar may also be available online.
Join us as we delve into the tax strategy, legal documentation, and insurance coverage considerations needed to successfully balance the ownership of multiple residences for snowbirds. The number of days you spend in a certain location may determine your residency status and tax obligations.
Sorting paper, looking for that one document you need? The main benefit of sorting paper and documents is to your overall mental health and well-being and for your family’s benefit, in the case of an emergency. People who are incapacitated or have passed away still have bills to pay and important documents in their names.
A Roth feature is available for a Solo 401(k) if allowed by your plan document. For those wishing to invest in alternative assets inside of their SEP or solo 401(k), a number of self-directed retirement plan custodians offer this option. This might be the better alternative for those with plenty of cash and a variable income.
From there, the latest highlights also feature a number of other interesting advisor technology announcements, including: Envestnet has announced that it is being acquired and taken private in a $4.5
Low value: I dont have a personal relationship; I am just a number. Low value: They dont quickly provide clients with needed documents. Full service: You get client documentation out on time. Full service: You work for a major firm that perhaps has won awards for product quality or service. He was unhappy with the service.
Everyone’s tax situation is different, and as a result, there are no “one-size-fits-all" guidelines available as to what to keep, how long to keep it for, and what your tax professional actually needs to see versus what you need to keep as support documentation.
You’re Comfortable with Numbers and Technology Modern tax software is designed to be user-friendly, but it still requires a basic understanding of tax concepts and digital tools. If you enjoy working with numbers and following step-by-step instructions, DIY may be a good fit.
If you are missing documents or important information, that could be a good reason to extend your filing deadline. Protect Your Identity Tax season is a particularly vulnerable time for tax and identity theft. Should You File an Extension? Keep in mind that an extension gives you more time to file your personal taxes.
Enter reporting company information Legal Name: Enter the full legal name of the reporting company exactly as it appears on official documents. EIN/Tax ID: Enter the company’s EIN or other applicable tax identification number. Pay close attention to names, dates, addresses, and identification document details.
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