Nerd's Eye View

OCTOBER 7, 2024

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 (..)

Clients 246

Clients B2B Estate Planning Planning 246

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

Wealth Management

DECEMBER 22, 2023

Potential failures range from cyber theft to fee inflation to document mismanagement.

Retirement Planning 298

Retirement Planning Retirement Planning 298

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 306

Estate Planning Planning Clients 306

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

Nerd's Eye View

AUGUST 7, 2024

Consequently, when in estate planning, thinking about how to divide their assets after their death, they often aim to simply apportion the whole pot among their beneficiaries, without regard to the nature of each individual asset.

Estate Planning 246

Estate Planning Taxes Assets Planning 246

Nerd's Eye View

JANUARY 23, 2025

Since the emergence of Artificial Intelligence (AI) in the mainstream technological landscape, conversations about which areas of the financial planning industry would be most likely impacted by AI have proliferated. Providing sample documents or links to sources for tone or substance may be helpful.

Financial Advisor 244

Financial Advisor Clients Communication Financial Planning 244

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

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 Chicago Financial Planner

NOVEMBER 27, 2022

One of the best tax deductions for a small business owner is funding a retirement plan. If you don’t plan for your own retirement who will? Two popular small business retirement plans are the SEP-IRA and Solo 401(k). I generally consider this a plan for the self-employed. You need to start a retirement plan today.

Retirement Planning 263

Retirement Planning Retirement Planning Financial Planner 263

Wealth Management

NOVEMBER 29, 2023

Draft estate planning documents with flexibility to account for a future diagnosis.

Estate Planning 289

Estate Planning Accounting Planning 289

Wealth Management

FEBRUARY 27, 2024

Coordinate the terms with the client’s estate-planning documents.

Estate Planning 277

Estate Planning Planning 277

Nerd's Eye View

NOVEMBER 23, 2022

Among the several different types of retirement plans that are available to self-employed workers, solo 401(k) plans can offer the most flexibility and the ability to contribute the highest amount of tax-advantaged savings.

Planning 246

Planning Distribution Assets Retirement Planning 246

Nerd's Eye View

JANUARY 29, 2025

As a foundational document, the operating agreement is essential for RIA firms. Planning for potential equity dilution is also essential to avoid friction as ownership stakes shift as new members join. By taking this deliberate approach, RIA owners can feel confident their firm is positioned to thrive for years to come!

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. Planning for potential equity dilution is also essential to avoid friction as ownership stakes shift as new members join. By taking this deliberate approach, RIA owners can feel confident their firm is positioned to thrive for years to come!

Distribution 130

Distribution Government Financial Advice Planning 130

MainStreet Financial Planning

JANUARY 23, 2025

Review Your Estate Planning Documents Take some time to review the key documents in your estate plan, such as your will, power of attorney, and property deeds. Prepare for Tax Season Organize your tax documents in one central locationwhether its a folder, box, or basketto avoid scrambling when its time to file.

Estate Planning 85

Estate Planning Budgeting Taxes Insurance 85

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

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

Abnormal Returns

FEBRUARY 21, 2024

(youtube.com) Retirement Why planning in retirement is so challenging. wsj.com) Dan Haylett talks retirement planning with Bec Wilson, author of "How to Have an Epic Retirement." (wsj.com) Dan Haylett talks retirement planning with Bec Wilson, author of "How to Have an Epic Retirement."

Retirement 275

Retirement Retirement Planning Portfolio Management Financial Advisor 275

MainStreet Financial Planning

NOVEMBER 14, 2024

“MainStreet Chalk Talk” The MainStreet Financial Planning Discussion Club When : Thursday, November 21st at 6:45 pm ET | 3:45 pm PT ~30-45 minutes Recorded and able to retrieve for one week How : Zoom Meeting Free for current clients, $10 for guests Register Here! Topics we’ll cover include: 1. About Barry W.

Assets 52

Assets Planning Estate Planning CFP 52

Abnormal Returns

JULY 3, 2023

kitces.com) Estate planning Four things to consider in anticipation of 2026. financial-planning.com) Wealth.com's Ester will help you read estate planning documents. riaintel.com) Why you should flip your plan presentation meetings on their head. (matts-newsletter-7a3f46.beehiiv.com) Thankfully advisers lead the list.

Estate Planning 240

Estate Planning Recruitment Wealth Management Startup 240

Nerd's Eye View

FEBRUARY 20, 2025

Similarly, advisors who provide comprehensive plans as part of their value proposition might need time to put together the necessary information – and asking prospects to "think it over" gives both parties time to ensure a good fit.

Clients 147

Clients Communication Financial Advisor Planning 147

Wealth Management

MARCH 20, 2023

States may enact companion legislation.

Electronics 130

Electronics Estate Planning Planning 130

Carson Wealth

JULY 3, 2024

Set up separate plans and goals for your business and your personal finances. It helps you plan for future expenses, allocate resources efficiently and stay on track with your financial goals. Identifying these risks early and having a plan to mitigate them can save your business from significant setbacks.

Financial Planning 142

Financial Planning Planning Retirement Planning Tax Planning 142

MainStreet Financial Planning

JANUARY 17, 2025

Automobile Automobile :Fire victims who need to replace lost or damaged DMV-related documents can do so free of charge at assistance centers in the impacted areas. Document Everything! If your home burned If your home burned, then documenting your homes condition and furnishings may be difficult.

Medical 98

Medical Insurance Taxes Financial Planning 98

Nerd's Eye View

JANUARY 24, 2024

In this guest post, David Haughton, the Team Lead for Advanced Planning at Commonwealth Financial Network, explores the importance of comprehensive POAs and how they can be constructed to avoid many of the common pitfalls that loved ones may encounter when accessing an incapacitated person's assets. Unfortunately, nearly half of all U.S.

Estate Planning 246

Estate Planning Accounting Clients Planning 246

Nerd's Eye View

JANUARY 24, 2024

In this guest post, David Haughton, the Team Lead for Advanced Planning at Commonwealth Financial Network, explores the importance of comprehensive POAs and how they can be constructed to avoid many of the common pitfalls that loved ones may encounter when accessing an incapacitated person's assets. Unfortunately, nearly half of all U.S.

Clients 246

Clients Estate Planning Accounting Planning 246

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! Those two documents cover most, if not all, of what you will need to provide for your return to be complete and accurate. The short answer to that question is often, “Everything.”

Taxes 98

Taxes Medical Distribution Accounting 98

Abnormal Returns

APRIL 24, 2024

awealthofcommonsense.com) How to choose the right health insurance plan. vox.com) What financial documents you need to hold onto. (morningstar.com) The IRS has once again waived RMDs for beneficiaries subject to the 10-year rule. investmentnews.com) Insurance Why auto insurance rates are skyrocketing. wsj.com)

Insurance 263

Insurance Math Retirement Education 263

Nerd's Eye View

NOVEMBER 22, 2023

In this guest post, Chris Stanley, investment management attorney and Founding Principal of Beach Street Legal, discusses in depth the various stages of buying, selling, and merging an investment advisory and financial planning business.

Compliance 246

Compliance Sales Financial Advisor Financial Planning 246

Carson Wealth

DECEMBER 31, 2024

Your personal preferences and the potential good your bequests can do are factors to think about in your estate planning. Basically, estate equalization is the process of helping ensure fairness in your estate plan, whether that means leaving all your primary heirs the same bequests or not. What Is Estate Equalization?

Estate Planning 52

Estate Planning Planning Taxes Distribution 52

Abnormal Returns

MARCH 15, 2023

(wsj.com) Retirement Retirement planning is a moving target. wsj.com) How poorly drafted legal documents can land you in trouble. humbledollar.com) Retirement is, in part, about declaring career victory. humbledollar.com) Advice How to fire your financial advisor in four steps.

Retirement Planning 246

Retirement Planning Retirement Financial Services Financial Advisor 246

Nerd's Eye View

AUGUST 24, 2022

a single person, a couple, a business, or a retirement plan) and the date on which the agreement will become effective. To start, the agreement should contain basic information about the adviser-client relationship, including who the client is (e.g., 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

JULY 25, 2022

Yet despite this – and perhaps even because of it – advisory firms are putting an ever-greater focus on financial planning in 2022, as a way to both show value to clients in the midst of difficult market returns, and, more broadly, to help clients navigate the current environment.

Financial Planning 244

Financial Planning Education Estate Planning CFP 244

The Big Picture

MAY 28, 2023

on a disastrous COVID plan, and never paid a professional price. 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. Vox ) • Why is the US banning children’s books?

Accounting 299

Accounting Medical Numbers Assets 299

Nerd's Eye View

AUGUST 24, 2022

a single person, a couple, a business, or a retirement plan) and the date on which the agreement will become effective. To start, the agreement should contain basic information about the adviser-client relationship, including who the client is (e.g., The agreement should also lay out some acknowledgments for the client to review.

Electronics 238

Electronics Clients Retirement Planning Financial Advice 238