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This lack of clarity made retirementplanning significantly more challenging. In response, Congress passed the Social Security Fairness Act at the end of 2024, repealing the WEP and GPO in full. Now that the WEP and GPO have been repealed, retirementplanning will be significantly easier going forward.
Also in industry news this week: According to a recent survey, advisors are putting an increasing share of client assets into model portfolios, allowing for customization and time savings that advisors appear to be using to provide more comprehensive planning services RIA M&A deal volume saw an annual record in 2024 as a lower cost of capital, (..)
Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that a recent report finds that the number of SEC-registered RIAs, the assets that they manage, and the number of clients they serve all increased between 2023 and 2024 and suggests the industry is robust across the size spectrum, (..)
Which could include measures such as additional time to comply with rules that have been adopted but not yet enforced and perhaps, more broadly, an approach from the SEC that focuses more on whether a firm has robust program controls and a strong fiduciary culture rather than seeking out specific, (sometimes minor) missteps and producing enforcement (..)
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.
Open, honest and candid discussion about lawsuits against TIAA and Morningstar, CITs bigger than mutual funds in TDFs, private equity in retirementplans and more.
Open, honest and candid discussion about the flexPATH lawsuit verdict, AI in DC plans, employee engagement, convergence and retirementplan advisor due diligence.
Welcome to the January 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!
Also in industry news this week: A recent study suggests that while a majority of financial advisory clients surveyed have only had 1 advisor, deteriorating client service is a key risk factor that could sway certain clients to leave for a different advisor RIA M&A activity in 2024 is poised to surpass the total number of deals seen in 2023, according (..)
Between 2014 and 2024, Mason transferred client funds into his own accounts and those of the two entities without clients’ authorization, according to the SEC. Mason, who ran Rubicon Wealth Management, a registered investment advisor in Gladwyne, Pa., He pleaded guilty to all of the criminal charges.
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!
Also in industry news this week: A House committee has advanced a bill that would extend several expired business-related tax measures from the Tax Cuts and Jobs Act and would increase the value of the Child Tax Credit The SEC released its examination priorities for 2024, which include a focus on advisers' adherence to their duty of care and duty of (..)
Welcome to the October 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!
million Americans turning 65 in 2024, advisors are navigating four core risks that will impact their portfolios in retirement: longevity, inflation, volatility, and emotions. With nearly 4.5 We will discuss new research by Dr. Wade Pfau, professor at The American College of Financial Services.
Updated for 2024. Unlike most types of retirementplans, the SEP IRA is funded by the employer. A SEP IRA (Simplified Employee Pension Individual Retirement Account) is a type of retirementplan specifically designed for self-employed individuals and small business owners. What is a SEP IRA?
ft.com) Creative Planning has closed on its purchase of Goldman Sachs' ($GS) PFM unit. citywire.com) Creative Planning is expanding its reach in the retirementplan space. thinkadvisor.com) The 10 best financial advisor conferences to attend in 2024. riaintel.com) How to prep an RIA for sale. kitces.com)
As a result, financial advisors should start honing the services Gen X members will likely benefit from the most, including retirementplanning, estate and tax planning and mortgage refinancing. advisors’ clients, up from 20% in 2021, according to a survey Cerulli conducted in 2024. trillion annually.
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Today’s Animal Spirits is brought to you by YCharts and Fabric: See here for 20% off your initial YCharts professional subscription Go to meetfabric.com/spirits for more information on life insurance from Fabric by Gerber Life On today’s show, we discuss: How Individual Retirement Accounts Changed the Stock Market Forever Social Security: (..)
Here are 5 areas to review to determine if you may need to make some adjustments for 2024. Review Tax Withholding: Check your paystubs to assess if adjustments to your W-4 are needed to avoid overpaying or underpaying taxes in 2024. The post Make your 2024 Taxes Less Taxing by giving yourself a Tax Checkup!
For instance, the Federal Adoption Credit provides a nonrefundable credit of up to $15,950 per child for adoptions in 2023 (claimed on 2024 tax returns), with no limit on the number of adopted children to whom this credit can apply.
And as 2023 draws to a close, we wanted to highlight 25 of the most popular and insightful articles that were featured throughout the year (that you might have missed!). Read More.
Do you have a plan in place for your retirement? For many people, the extent of their retirementplanning includes signing up for the plan at work – which is often more of a starting point than a comprehensive retirementplan. It also allows for an IRS match up to 4 percent.
Attorneys are telling us that 2024 is the time to review and change your estate plan as the lines may be out the door in 2025 for taxpayers wanting to make last minute changes to take advantage of the higher exemption amount. Lastly, I allocate the retirementplan contributions between Roth and Traditional 401(k) accounts.
Here’s how it breaks down for 2023-2024: If a couple’s total retirement income is between $32,000 and $44,000, up to 50% of Social Security benefits could be taxable. This is why having a smart, well-rounded retirementplan that includes income planning and tax planning is so important!
RetirementPlanning: Looking Beyond the Basics For 2025, it’s essential to think beyond the standard “maximize your 401(k)” advice. While that remains important, consider diversifying your retirement strategy. This can significantly impact your retirement savings trajectory.
Stocks vs bonds historical returns by calendar year (1997 – 2024) Top takeaways: Between 1997 and 2024, the S&P 500 returned 9.7% Returns shown are based on calendar year returns from 1950 to 2024. Growth of $100,000 is based on annual average total returns from 1950 to 2024. on an average annualized basis.
Student Loan and Roth Account Matching Employers will be able to match employees’ student loan payments to a workplace retirement account beginning in 2024. Before this change, matches on employer plans were pre-tax. Emergency Savings Beginning in 2024, some retirementplans could add an emergency savings component.
IRAs: the $1,000 catch-up limit will be indexed by inflation for tax years starting in 2024. would permit employers to make matching contributions to an employee’s 401(k) and 403(b) retirementplan, even if the worker isn’t saving themselves. 529 plan to Roth IRA rollovers. The Secure Act 2.0 Other Roth changes.
If you’re planning to boost your retirement savings, the latest announcement from the Internal Revenue Service (IRS) brings good news. In 2024, contribution limits for most retirementplans will be increased by $500, providing individuals with additional opportunities to secure their financial future.
The imagery also suggests the luxury of boat ownership, a common retirement dream, painting an appealing picture without making specific claims about future returns. The post Websites for Financial Advisors: What’s Working in 2024 appeared first on Indigo Marketing Agency.
It goes by many different names: semi-retirement, partial or phased retirement, second career, and so on. But typically, it means the same thing: working in some capacity after retiring early. A partial retirement helps with the emotional transition There are two phases of retirementplanning: time and money.
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 retirementplanning and how women can maximize their financial future. appeared first on www.tobiasfinancial.com.
Ready to Tackle 2024? Whether youre fine-tuning your budget or planning your retirement roadmap, dont go it alone. Happy Planning and best to you in 2025! Lets make this year one for the financial record books.
So…if your child is a sophomore in high school right now…2024 is the tax year that will be used for financial aid eligibility. As you file 2023 taxes, take a moment to think about what you can do to optimize your 2024 tax year especially if you have a child in their sophomore year in high school. Delay bonus if possible.
on up to $168,600 of income in 2024 for the Social Security portion of FICA). Which means that even if the trust fund reserves were to become depleted (currently estimated to occur in 2035), the system would continue to pay the majority of benefits that are simply covered by the ongoing receipt of significant payroll tax revenue.
Strategy Contribution Limit (2024) Advantages Disadvantages Backdoor Roth IRA $7,000 ($8,000 if 50+) Circumvents income limits for Roth IRA, providing increased tax-free growth Low annual limit and pro-rata rule complications. Its important, therefore, to stay informed about potential changes that could impact your retirementplan.
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