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Weekend Reading For Financial Planners (Jan 21-22)

Nerd's Eye View

While it remains to be seen whether the measures will actually be enacted, proposed measures include raising income and capital gains tax rates, instituting wealth taxes, and reducing the state estate tax exemption, potentially creating future planning opportunities for advisors with clients in those states.

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Massachusetts ‘Millionaires’ Tax Applies to Sudden Wealth Events

Darrow Wealth Management

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. Darrow Wealth Management is a financial fiduciary and fee-only registered investment advisor in Boston and Needham, MA.

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This financial advisor makes getting leads from social media look like a piece of cake!

Sara Grillo

How financial advisors can get leads from social media Thomas started on social media three years ago, in June of 2020. He narrowed his focus to Twitter in January of 2022. In quarter one of this year alone, Thomas got 60 qualified leads, all who came to him through Twitter, all who could afford his firm’s $750/month minimum fee.

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Financial planning transparency is FINALLY upon us (whoo hooo!!!!!!!!!!!!)

Sara Grillo

The move to financial planning transparency is aflame! in all aspects of financial advice, with a special focus on Advice Only, Flat Fee, and Hourly service models. There is an emphasis on logical and clear disclosure of services and their related fees. They revised this guide in November of 2022.

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Does being a fiduciary financial advisor REALLY matter – or is it “meh?”

Sara Grillo

I have a newsletter in which I talk about financial advisor lead generation topics which is best described as “fun and irreverent.” I am an irreverent and fun marketing consultant for financial advisors. Why is the fiduciary standard important in financial advice? What is a conflict of interest in financial advice?

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Advice-only financial planners are stealing the show!

Sara Grillo

This interview with Cody Garrett, CFP, of Measure Twice Financial was mind-blowing. It’s so clear to me what the future of financial advice is – what it should be – and what it will be. I am an irreverent and fun marketing consultant for financial advisors. What is an advice-only financial planner?

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Saving investors from the “Humpty Dumpty portfolio” with hourly financial advisor Rick Ferri, CFA

Sara Grillo

And that’s why I’m writing this blog; because I feel that financial advice rendered by the hour is a great thing for the American public (for the reasons we’re going to discuss below). What are the drawbacks of charging an hourly fee for financial advice? That’s how you get paid.