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Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that SIFMA, which represents broker-dealers, investment banks, and asset managers, released a white paper that argues that CFP Board "increasingly functions as a de facto private regulator for CFP certificants" and proposes that CFP (..)
I was amazed by some of the findings, including that 68% of the 414 respondents are currently using or plan to adopt AI-powered tools—only 32% had no plans to do so. Q&A: What Was Behind Schechter’s Decision to Sell to Arax? expansion with significant support from some large firms.
In these top videos posted on MDRTs YouTube channel in 2024, learn how MDRT members communicate and work with clients. The ideas they share can help you better attract and retain clients.
Mike McGlothlin , CFP, CLU, ChFC, LUTCF, NSSA, Executive Vice President, Retirement, at Ash Brokerage , is the 2024 recipient of the Kenneth Black Jr. NAIFA and FSP merged in January 2024. Leadership Award. McGlothlin manages a staff of more than 65 employees and has maintained a 90% retention rate.
In 2019, the CFP board announced CFP® professionals must adhere to a fiduciary duty when providing investment advice. It’s important to note that the CFP Board’s fiduciary standard is business-model neutral as described below. You can search for CFP® professionals here.
Wherever you’re at with your plans, watch out for these common midlife money myths along the way: Midlife Money Myths #1: It’s too difficult to change careers Changing careers at any age can be intimidating, but the older you get, the more impossible it can feel. Try to focus on your own plan, and what will work best for you.
Here are a few ways to keep your finances healthy during the holidays: Create a budget for a financially healthy holiday season Have you ever gone to the grocery store without a list, only to come home with an excess of snacks and treats you never planned to buy in the first place? Start with a brain dump of your ideal 2024 holiday season.
Garry Esquire, CFP®, MBA Founder & CEO of Yardley Wealth Management Setting meaningful financial goals in 2025 requires more than just wishful thinking – it demands a strategic, well-planned approach. Interest rates remain a significant factor in financial planning, affecting everything from mortgage rates to investment returns.
We've also rolled out a new private community specifically for Directors of Financial Planning (DFPs), who are increasingly becoming the lynchpins that drive planning excellence in advisory firms… which is so in alignment with our own Kitces mission that we wanted to start hosting a community for DFPs to further foster their success!
But before you hand off your taxes to the IRS, there are some updates and changes that you should keep in mind: Filing Taxes in 2025: Tax Filing Date As usual, the deadline to file federal tax returns for most taxpayers is Monday, April 15, 2024. Here is a list of the states with an extended filing date this year.
As we wrap up 2024, were filled with gratitude for our clients, colleagues, and community who make our work so rewarding. This past quarter has been nothing short of eventful, from client appreciation events to personal milestones and planning for an exciting year ahead.
What ’ s New for 2024? However, there ’ s something new: Starting in 2024, you can make a one-time transfer of up to $53,000 from your IRA to establish a Charitable Remainder Trust (CRT) or a Charitable Gift Annuity (CGA). This restriction is important to note when planning your estate and financial future.
Eleven years ago, I took a chance on my vision for a more personal, accessible approach to financial planning for professionals. That plan was the foundation for Your Richest Life, and the journey has taught me more than I ever could have imagined. I can’t wait to see what the next year has in store for Your Richest Life.
But before we consider whats to come, lets take a look back at how 2024 stacked up: 2024 Recap: A Year of Market Highs The U.S. Despite their strong 2024 performance overall, the markets deflated as the year came to a close. The labor market also finished on a high note, adding 227,000 jobs in November 2024.
Sweetness has come in the form of a stock market up +20% in 2024 (up 8 out of 10 months this year), and only off -3% from its record high reached a few weeks ago. Slome, CFA, CFP® Plan. This article is an excerpt from a previously released Sidoxia Capital Management complimentary newsletter (November 1, 2024).
By Brady Marlow, CFP, AEP, CAP, CPWA, CExP , Director, Carson Private Client Wealth Strategy Although most people focus first on loved ones in developing their estate plan, you may also want your legacy to include continuing support of issues and organizations youre passionate about. million per individual for 2024.
We’ll see if there is any gravy left for investors during the last month of the year, but so far 2024 has been a satiating feast that has stuffed investors. But 2024 has been a blockbuster year and there has been plenty to be thankful for, especially the performance of the U.S. Slome, CFA, CFP® Plan. stock market.
The proposed bill lays out the specifics of Republicans' plans for extending (and adding to) the Tax Cuts and Jobs Act (TCJA), which is scheduled to expire on December 31, 2025. On May 12, Republicans on the House Ways and Means Committee released their long-awaited tax legislation proposal.
Immediately after the 2024 presidential elections, positive animal spirits catapulted the stock market higher due to hopes of stimulating tax cuts and deregulation legislation. in Q4 – 2024. Slome, CFA, CFPPlan. Investor mood or sentiment can change rather quickly. rate in Q1 2025 versus +2.3%
Example #2: Production Plan #2 (Each country specializes in their comparative advantage) Chinas Output (T-shirt specialization): 100 hours = 100 T-shirts Frances Output (Wine specialization): 100 hours = 100 bottles of wine Combined Total: 100 T-shirts + 100 bottles of wine = 200 total units of goods. Todays Tariff Reality In 2024, the U.S.
With its new clinical trial now underway, United Therapeutics is planning to transplant up to 50 patients with modified pig kidneys in the coming months. billion in 2024. Slome, CFA, CFPPlan. And UKidney is just the beginning. These patients can be administered with modified formulations of its existing Tyvaso molecule.
Source: Yardeni.com 2024 Predictions There were plenty of pundits and talking heads who falsely predicted a recession in 2024, but the odds certainly worked in investors favor. For 2024, the S&P 500 index gained +23%, and this comes on the heels of a banner 2023, which was up +24%. Slome, CFA, CFPPlan.
At the same time, questions abound as to how the FPA realistically plans to pursue Title Protection, and its noticeable abstention from mentioning the CFP marks anywhere in its discussion of its new advocacy agency, despite the fact that the FPA is the membership association for CFP professionals.
youtube.com) Daniel Crosby talks with Cady North, Founder and CEO of North Financial Advisor, about planning for a sabbatical. thinkadvisor.com) Advisers Future Proof 2024 is bigger and better. riabiz.com) CFP professionals make more money. standarddeviationspod.com) Retirement Retirees go back to work for any number of reasons.
Welcome to the May 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 financial advisors!
And in the coming year, we're going to make sure that even more of that Kitces content is eligible for not only the full range of CE credit for CFP, CPA, and the other various professional designations, but also the ever-expanding IAR CE obligation. In 2024 we'll again feature our Marketing Summit (save the date for April 25th!)
Also in industry news this week: While the SEC has had the power to restrict mandatory arbitration clauses in RIA client agreements for more than a decade, an advisory committee meeting this week suggests support for such a measure isn't unanimous CFP Board saw a record number of exam-takers during 2024, reflecting recognition of the professional and (..)
“MainStreet Chalk Talk” The MainStreet Financial Planning Discussion Club When: Tuesday 1-16-24 at 7:30pm Eastern; 4:30pm Pacific ~30-45 minutes Recorded and able to retrieve for one week How : Zoom Meeting Free for current clients, $10 for guests Register Here!
Also in industry news this week: A recent study has found that advisors who gain additional credentials tend to see a boost both in their confidence and in their business metrics, with the CFP certification standing out in terms of value The implications for RIAs of a proposed Treasury Department rule that would subject many firms to certain anti-money-laundering (..)
Petersen, CPA, CFP ® , CP, Affluent Wealth Planning The holidays are upon us! That must mean it’s time to roll up my sleeves and get to work on year-end financial planning – with an emphasis on 2023 income tax. Lastly, I allocate the retirement plan contributions between Roth and Traditional 401(k) accounts.
By Mike Valenti, CPA, CFP®, Director,Tax Planning LLCs can provide legal protections and a level of anonymity, either or both of which can be beneficial for business owners, investors, and others with valid intentions. NOTE: Applicable entities created in 2024 have 90 days from creation to file the report.
In June 2024, I embarked on a full kitchen remodel, hoping it would be done by the Christmas holidays (keep reading to the end to find out if it was done in time). My husband also paused his employee stock purchase plan contributions so we could direct those dollars to high-yield savings too. My kitchen remodel was 99.9%
Many of our clients have used Mint and it has been a favorite of MainStreet Financial Planning for many years. As we approach the end of 2023 – now is a great time to review your budget and think through some of your financial goals for 2024 and a budgeting tool could help get back on track. year or $8.33/month.
Some of the measures in the bill include increasing the required minimum distribution age, raising catch-up contribution limits, permitting some rollovers from 529 plans to Roth IRAs, and expanded access to employer plans. IRAs: the $1,000 catch-up limit will be indexed by inflation for tax years starting in 2024.
We are thrilled to announce that our CEO, Marian ela Collado , CPA/PFS, CFP®, CDS® will serve as one of the speakers at the upcoming CNBC Women & Wealth on March 5 th , 2024. Marianela’s session will focus on retirement planning and how women can maximize their financial future. appeared first on www.tobiasfinancial.com.
In 2023, the annual gift tax exclusion is $17,000 per person, increasing $1,000 in 2024. It’s important to avoid over-funding a 529 plan , especially if uncertain about the child’s plans for higher education. For one, up to $10,000 per year from a 529 plan can be used to pay tuition at a K-12 private school.
We are thrilled to announce that our Wealth Advisor, Franklin Gay, CFP®, EA, has been honored with the 2024 New Professional Award by the National Association of Personal Financial Advisors (NAPFA)! To learn more about 2024 NAPFA awards, visit: https: [link] To learn more about Franklin, visit: and his journey, visit: [link]
We are excited to share that our Wealth Advisor, Catalina Franco-Cicero MS, CFP®, CTS , will serve as a presenter for the FPA Latino Knowledge Circle on March 5 th at 3:00 PM. In this session, Catalina will provide financial planning tips tailored to meet the Latino community’s unique needs and cultural nuances.
According to the 2024 State of Retirement Planning Study by Fidelity Investments, the rise of remote and hybrid work has shifted retirement preferences for working Americans under age 42. The study found that 66% of Gen Z and Millennials prefer a phased retirement and 57% of all respondents plan to work part-time in retirement.
And they definitely shouldn’t let politics upend their long-term financial plans. According to YCharts, a $10,000 investment in the S&P 500 back in 1950 would equal over $3 million by March 2024 (excluding dividends) for an average annual return of roughly 8%. And while it may seem counterintuitive, in the past, U.S.
When : Wednesday, March 13th – Thursday, March 14th, 2024 Where : DoubleTree by Hilton St. We are planning for 40 people at most. If you wish to transfer your ticket to another party, you may do so before March 1, 2024, and you agree to notify Sara Grillo immediately of any changes in ownership. Will you join us?
We’re thrilled to announce that our Wealth Advisor, Yesenia Realejo, CFP®, has been honored with the 2024 Mother of the Year award by the Healthy Mothers Healthy Babies Coalition of Broward County. Yesenia’s commitment to advocating for families, educating communities, and inspiring hope has left a lasting mark on our community.
Do you have a plan in place for your retirement? For many people, the extent of their retirement planning includes signing up for the plan at work – which is often more of a starting point than a comprehensive retirement plan. Some 457 plans can allow for Roth contributions and in-plan rollovers.
By Mike Valenti, CPA, CFP ® , Director of Tax Planning It’s that time of year again! 7024 – Tax Relief for American Families and Workers Act of 2024 on January 31, 2024, with strong bipartisan support. For individual plans, the limit is now $3,650, and for family plans, it’s $7,300. More on that later.)
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