Nerd's Eye View

SEPTEMBER 20, 2023

30 years ago, when financial plans relied mainly on constant investment return projections derived from straight-line appreciation and time-value of money calculations, financial advisors began acknowledging and accounting for the variable and uncertain nature of investment returns.

Retirement 202

Retirement Planning Financial Planning Risk Tolerance 202

Abnormal Returns

JANUARY 15, 2024

(riabiz.com) Why women are still struggling to make progress in the world of financial advice. thinkadvisor.com) Vanguard is entering the cash management space with the Cash Plus Account. blairbellecurve.com) The biz What does it mean to 'go independent' these days? riabiz.com) Avise is a cooperative platform for advisers.

Financial Planner 246

Financial Planner Wealth Management Financial Advising Retirement Planning 246

Nerd's Eye View

NOVEMBER 3, 2023

Among other measures, the proposal would amend the current 5-part test that determines fiduciary status for retirement accounts by defining as a fiduciary act a one-time recommendation to roll funds from a company retirement plan to an Individual Retirement Account (IRA), strengthen advice standards for independent insurance professionals, apply to (..)

Financial Planner 214

Financial Planner Retirement Planning Retirement Insurance 214

Sara Grillo

APRIL 19, 2024

One of the biggest fears that people have, when they are looking for a financial advisor, is this: “Is it truly impossible for an advisor to say wire themselves a few million dollars from a client’s account?” I’m not a lawyer – so please don’t interpret anything I say here as legal advice. Read it here.

Financial Advisor 97

Financial Advisor Financial Advice Accounting Compliance 97

Nerd's Eye View

OCTOBER 25, 2023

In 2019, the SEC released a Commission Interpretation that separated the obligation of RIAs to act in their clients' best interests into separate duties of care (to provide investment advice in the best interest of the client) and loyalty (to eliminate or disclose all potential conflicts of interest with the client).

Fiduciary Duty 205

Fiduciary Duty Commission Clients Accounting 205

Nerd's Eye View

MAY 3, 2024

At the same time, the study found that potential breakaway brokers view the operational and compliance requirements of transitioning to and doing business as an RIA as a major concern, which could lead some of them to either leverage the growing number of service providers available to RIAs, or perhaps join an existing corporate RIA platform to take (..)

Financial Planner 187

Financial Planner Healthcare Retirement Financial Advisor 187

Nerd's Eye View

OCTOBER 20, 2023

Notably, this decision has provided both qualitative and quantitative benefits for these advisors, as 85% said they now have more control over their future and 80% saw their assets under management subsequently grow, with a median increase of 42%. Read More.

Financial Planner 197

Financial Planner Retirement Planning Retirement Healthcare 197

The Big Picture

JANUARY 2, 2023

My father’s advice when I joined the team was: Find the fastest guy on the team and keep up with him. Dad’s advice worked out well. I went to grad school some years later, and the same advice was offered: Find the smartest person in your class and do your best to keep up with them. Dad’s advice was once again solid.

Startup 344

Startup Accounting Banking Management 344

Nerd's Eye View

APRIL 26, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that the Department of Labor released the final version of its Retirement Security Rule (a.k.a.

Financial Planner 213

Financial Planner Commission Financial Advisor Communication 213

A Wealth of Common Sense

FEBRUARY 15, 2024

Josh Brown joined me again this week to discuss questions about career advice for younger advisors, when it makes sense to hire a financial advisor for retirement, 401ks vs. brokerage accounts and how to deploy cash in the face of all-time highs in the stock market. Further Reading: How Rich Are the Baby Boomers?

Financial Advisor 115

Financial Advisor Retirement Accounting Marketing 115

Abnormal Returns

APRIL 12, 2023

open.spotify.com) Christine Benz and Jeff Ptak talk with James Choi about personal financial advice and the importance of defaults. genyplanning.com) What happens when you roll Roth 401(k) balances into a regular Roth IRA account? Podcasts Morgan Housel talks about the importance of 'playing your own game.' If so, how much?

Financial Advice 240

Financial Advice Retirement Financial Advisor Insurance 240

Abnormal Returns

JUNE 12, 2023

etftrends.com) Robo-advice Why the SEC is scrutinizing robo advice. citywire.com) Creative Planning is buying BerganKDV, an accounting firm. James Choi author of “Popular Personal Financial Advice Versus the Professors.” citywire.com) Wealthfront has launched Automated Bond Portfolio. riaintel.com) A Q&A with Prof.

Wealth Management 130

Wealth Management Financial Advice Financial Planning Planning 130

Abnormal Returns

MARCH 15, 2023

humbledollar.com) Advice How to fire your financial advisor in four steps. contessacapitaladvisors.com) Personal finance Early retirement doesn't mean you shouldn't fund your retirement accounts. (thisisthetop.substack.com) Consumers are piling into CDs. wsj.com) Retirement Retirement planning is a moving target.

Retirement Planning 229

Retirement Planning Retirement Financial Services Financial Advisor 229

Nerd's Eye View

MARCH 27, 2023

Accordingly, promoting the brand of the CFP marks to the public can be a good way for advisors to boost their own personal brands in the minds of consumers, and at the same time serve to promote recognition of CFP certification more broadly as a sign of high-quality financial advice (and supporting CFP Board’s own publicity efforts).

CFP 244

CFP Clients Certification Financial Advice 244

Nerd's Eye View

FEBRUARY 14, 2024

The difference between an advice and sales relationship isn't necessarily problematic on its own, since some people truly do just want to buy a product from a salesperson, rather than go through the time and cost it takes to be thoroughly advised on the best strategy. Against this backdrop, the U.S.

Retirement 115

Retirement Financial Advisor Insurance Sales 115

The Big Picture

JANUARY 26, 2023

My career in finance has coincided with an amazing string of disasters, ranging from the analyst scandal, IPO spinning, and accounting restatements, to say nothing of Enron, Bernie Madoff, and FTX. I am genuinely excited about a new presentation I have been working on since the holidays: How to Avoid Financial Disasters.

Accounting 285

Accounting Portfolio Investing Investments 285

Nerd's Eye View

JANUARY 20, 2023

Also in industry news this week: While the number of RIA M&A deals increased in 2022, the size of these deals declined, perhaps reflecting challenging market and economic headwinds A recent survey suggests that nearly half of financial advisory clients have changed advisors or have considered doing so since the start of the pandemic and that portfolio (..)

Financial Planner 183

Financial Planner Financial Advice Fee Only Financial Planning 183

Carson Wealth

MARCH 7, 2024

Most individuals choose to have a certain amount of money transferred from each paycheck directly into their investment accounts so they don’t even have the option to spend it. Set Up Another Retirement Account Individual Retirement Accounts (IRAs) may offer tax advantaged savings as well. Talk to us today.

Retirement Planning 143

Retirement Planning Retirement Planning Risk Tolerance 143

Nerd's Eye View

MAY 12, 2023

The study also highlighted the importance of advisors taking the time to build trust with clients and to understand a client’s goals and needs, as this can not only differentiate an advisor from those providing purely transactional investment advice, but also could promote client retention, even in years of poor market performance.

Financial Planner 202

Financial Planner Tax Planning Clients Taxes 202

Advisor Perspectives

APRIL 18, 2024

The right platform will help the advisor provide more holistic advice and grow their AUM organically. My guest will discuss what advisors need to know about cash sweep accounts and how advisors can evaluate different platforms.

Accounting 64

Accounting Clients Management Marketing 64

Abnormal Returns

JANUARY 17, 2023

caia.org) Retirement participants who use managed accounts were the least likely to trade and the most likely to seek advice during the Covid period. Retirement How the rise of target-date funds affect the markets. papers.ssrn.com) How Canadian pension funds manage money differently.

Retirement 130

Retirement Accounting Portfolio Management 130

Nerd's Eye View

JANUARY 5, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that comment letters submitted regarding the Department of Labor's (DoL) proposed Retirement Security Rule, which is intended to strengthen standards regarding the provision of certain retirement-related advice, reflect the (..)

Financial Planner 189

Financial Planner Retirement Retirement Planning Financial Advisor 189

Advisor Perspectives

APRIL 25, 2024

Advisors can save time and minimize errors by using trading and rebalancing tools, portfolio management and CRM systems to manage accounts. Automation in data analysis also frees up time to provide more personalized advice or pursue new business.

Portfolio Management 59

Portfolio Management Accounting Portfolio Management 59

Abnormal Returns

SEPTEMBER 11, 2023

Podcasts Cameron Passmore and Benjamin Felix talk with Preet Banerjee about the value of financial advice. thinkadvisor.com) How RMDs on 401(k) accounts are different. rationalreminder.libsyn.com) Michael Kitces talks with Olivia Luper who is the Founder of Lexicon Advisor Marketing. kindnessfp.com)

Wealth Management 146

Wealth Management Estate Planning Financial Advice Financial Planning 146

The Chicago Financial Planner

AUGUST 24, 2021

Review your account statements. Read and review your account statements on a regular basis. Several years ago, an advisor allegedly took client funds from accounts at Schwab by forging their signatures. The steps above can help but overall be diligent about your finances and the people you are trusting to provide you advice.

Financial Advisor 191

Financial Advisor Financial Planner Accounting Retirement 191

The Big Picture

SEPTEMBER 10, 2022

KCP Group ). • Your Career Is Just One-Eighth of Your Life : Five pieces of career advice, shaped by economics, psychology, and a little bit of existential math. ( Citi Global Wealth manages more than $800B in Client Assets, and North America accounts for about half of that business. The Atlantic ). • Source: Pew Research Center.

Math 300

Math Wealth Management Accounting Media 300

Carson Wealth

APRIL 4, 2024

From opening your first checking account to taking out your first car loan, they were always there to guide you. Assessing Their Financial Situation Your first task should be gathering information about all of your parents’ financial accounts and holdings. Your parents taught you everything you know about money. It’s not always easy.

Management 137

Management Healthcare Medical Estate Planning 137

Harness Wealth

OCTOBER 23, 2023

Key Takeaways: Accounting advisory services extend beyond traditional tax preparation to offer strategic financial guidance. If you’re a CPA who works with clients on more than just annual tax returns, you’re likely already providing accounting advisory services. Table of Contents What Are Accounting Advisory Services?

Accounting 52

Accounting Taxes Strategic Planning Estate Planning 52

Nerd's Eye View

APRIL 4, 2024

In other professional industries like accounting and law, the training and development of newly minted CPAs and attorneys are often provided by the largest firms who hire and train in bulk each year, knowing full well that many new hires will move on in just a few years.

Financial Planner 186

Financial Planner CFP Professional Services Financial Planning 186

Nerd's Eye View

SEPTEMBER 5, 2022

Orion (re-)partners with Apex Clearing with an integrated financial-planning-and-digital-account-opening experience for younger clients with smaller accounts.

Financial Advisor 165

Financial Advisor Estate Planning Accounting Taxes 165

eMoney Advisor

FEBRUARY 28, 2023

Account aggregation gives financial professionals—and their clients—a complete and centralized view of the client’s financial information. At a minimum, this allows for more personalized advice, the potential to identify assets held away, and to effectively monitor the client’s overall financial progress.

Accounting 71

Accounting Financial Planning Clients Assets 71

MainStreet Financial Planning

FEBRUARY 1, 2024

No Minimums, Maximum Accessibility: Unlike traditional financial advisors, being a Garrett Advisor means that we have no income or investment account minimums for hourly engagements. This commitment to objectivity ensures that the advice provided is solely focused on the client’s best interests.

Financial Advice 96

Financial Advice Planning Fee Only Financial Planning 96

Abnormal Returns

SEPTEMBER 29, 2022

artofmanliness.com) Six questions you should ask your financial advisor, including 'If something happens to you, who will take over my account?' mr-stingy.com) Humility Ben Carlson, "You could argue the more successful you become, the more advice you should seek from others."

Retirement 227

Retirement Financial Advisor Accounting Investing 227

Sara Grillo

JANUARY 8, 2024

He’s going to talk about how his firm is providing access to financial planning for small accounts through their 401(k) platform. Financial planning for smaller accounts: is it really possible? By the way, if you happen to be a small investor looking for financial advice, I have a list of advisors who are open to serving such clients.

Financial Planning 64

Financial Planning Accounting Planning Financial Advisor 64

Talon Wealth

OCTOBER 26, 2023

Set Up Automatic Contributions and Max Them Out Once you’ve created a budget, you can set up automatic contributions to your retirement accounts. Take Advantage of Tax Benefits with a Tax-Deferred Investment Account Consider the tax benefits associated with specific retirement plans when saving for retirement.

Retirement 98

Retirement Retirement Planning Budgeting Taxes 98

Fortune Financial

APRIL 11, 2024

Diligent oversight and management of these retirement accounts is essential for anyone aiming to build a solid financial foundation for a comfortable and secure retirement. It emphasizes the necessity for vigilant financial management, including keeping meticulous records of all retirement accounts and staying informed about their status.

Retirement 59

Retirement Retirement Planning Financial Advisor Education 59

Harness Wealth

FEBRUARY 20, 2024

When selecting a tax professional, there are four main types to consider: Certified Public Accountant (CPA) Enrolled Agent (EA) Tax Attorney Non-credential Tax Professional Each type requires its own education and training, allowing them to provide specific services, which we’ll explore below.

Taxes 52

Taxes License Education Tax Planning 52