Advisor Perspectives

JUNE 2, 2023

Here are four things advisors get wrong about tax-loss harvesting.

Taxes 103

Taxes 103

Advisor Perspectives

MAY 17, 2023

Every financial decision has a tax implication, and sufficient planning is not done until the taxes have been considered and reported correctly. Here are seven pitfalls advisors can avoid.

Taxes 52

Taxes Planning 52

Abnormal Returns

APRIL 10, 2024

morningstar.com) Dan Haylett talks with Eric Brotman, who is the founder and CEO of BFG Financial Advisors, about retirement as 'graduation.' bestinterest.blog) Taxes How retirees can (legally) reduce their tax bills. humbledollar.com) Don't take tax advice from TikTok. That doesn't mean they are easy to hold.

Estate Planning 215

Estate Planning Retirement Planning Retirement Taxes 215

Nerd's Eye View

NOVEMBER 1, 2023

There are many tax planning strategies that allow financial advisors to demonstrate the ongoing value they provide to clients in exchange for the fees they charge. Advisors also can support the backdoor Roth process by communicating with clients' tax preparers about the strategy and why they are recommending it for their mutual client.

Taxes 240

Taxes Accounting Clients Retirement Planning 240

Nerd's Eye View

JANUARY 31, 2024

Of the many provisions in the bill, the so-called "Death of the Stretch" arguably received the lion's share of consternation from the financial advisor community. This shift has led financial advisors to explore new strategies for mitigating the resulting tax-planning challenges.

Financial Advisor 222

Financial Advisor Estate Planning Nonprofit Financial Planner 222

Nerd's Eye View

JANUARY 26, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news of a survey indicating that about 90% of financial advisors would switch firms based on bad technology at their current firm, and that 44% have already done so. Read More.

Financial Planner 197

Financial Planner Retirement Planning Financial Advisor Retirement 197

Nerd's Eye View

APRIL 19, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that CFP Board announced that it has crossed the milestone of 100,000 CFP professionals in the United States, and despite having just celebrated its 50th anniversary last year, just set a record high in the number of advisors sitting (..)

Financial Planner 220

Financial Planner CFP Financial Advisor Retirement Planning 220

Wealth Management

JANUARY 24, 2024

Double-digit percentage point gains in both were notable findings in the annual advisor tech survey revealed at the T3 conference this week, as was the persistently low adoption of cybersecurity tools.

Estate Planning 111

Estate Planning Taxes Planning 111

Nerd's Eye View

DECEMBER 22, 2023

Enjoy the current installment of "Weekend Reading For Financial Planners" – this week's edition kicks off with the news that Envestnet has published research highlighting a number of key trends that they believe will shape the growth of the advisory industry in 2024 and beyond, which reflect at a high level advisors' ongoing shift towards providing (..)

Financial Planner 225

Financial Planner Fee Only Tax Planning Retirement 225

Covisum

JANUARY 17, 2023

Client accounts are likely down right now, creating a unique set of opportunities for financial advisors. Given the market volatility, there are a few tax situations to watch out for. The challenge with market downturns is not knowing when they will end. Sometimes there will be multiple points that'll seem like the bottom.

Tax Planning 52

Tax Planning Taxes Retirement Financial Advisor 52

Nerd's Eye View

DECEMBER 25, 2023

Each week in Weekend Reading For Financial Planners, we seek to bring you synopses and commentaries on 12 articles covering news for financial advisors including topics covering technical planning, practice management, advisor marketing, career development, and more.

Financial Advisor 212

Financial Advisor Financial Planner Insurance Clients 212

Nerd's Eye View

DECEMBER 15, 2023

Also in industry news this week: Most businesses that operate in the U.S., Also in industry news this week: Most businesses that operate in the U.S., Also in industry news this week: Most businesses that operate in the U.S., Also in industry news this week: Most businesses that operate in the U.S.,

Financial Planner 235

Financial Planner Retirement Taxes Insurance 235

Nerd's Eye View

MARCH 13, 2024

Most of the time, people are subject to state taxes in the states where they live and/or earn their income. So when moving to a lower-tax state or another, their income tax burden likewise shifts to the new state along with them.

Taxes 206

Taxes Compensation Planning Retirement Retirement Planning 206

Nerd's Eye View

AUGUST 2, 2023

Which means that financial advisors can play an important role in adoption planning – helping clients strategically plan for the costs involved in the process, including accessing tax credits that can significantly defray these expenses. At the same time, adoption can be expensive, with costs that can add up to $70,000 or more.

Taxes 222

Taxes Planning Financial Advisor Strategic Planning 222

Nerd's Eye View

FEBRUARY 2, 2024

Enjoy the current installment of "Weekend Reading For Financial Planners" - this week's edition kicks off with the news that a Morningstar survey has found that financial advisory clients are more likely to stick with their advisor for emotional reasons rather than investment returns alone.

Financial Planner 215

Financial Planner Compliance CFP Clients 215

Nerd's Eye View

FEBRUARY 24, 2023

Also in industry news this week: Why the behavior of some TAMPs and investment advisers might have led the SEC to propose its new (and potentially burdensome) ‘outsourcing rule’ Why independent broker-dealers could become major players in RIA M&A in the coming year From there, we have several articles on advisor marketing: How to craft (..)

Financial Planner 226

Financial Planner Tax Planning Taxes Numbers 226

Nerd's Eye View

JANUARY 22, 2024

In the early days of wealth management, a financial advisor's value proposition was relatively explicit, typically focusing on a limited range of portfolio management activities (e.g., Even with the best intentions, this disconnect can ultimately damage an advisor's perceived value over time.

Financial Advisor 195

Financial Advisor Insurance Coverage Charitable Planning Estate Planning 195

Nerd's Eye View

APRIL 8, 2024

As a starting point, while financial advisors tend to have a strong client retention rate (often well above 90%), data from CEG indicate that nearly 40% of business owners surveyed said they were at least somewhat likely to switch their primary financial advisor in the next 2 years. Read More.

Financial Advisor 130

Financial Advisor Clients Estate Planning Taxes 130

Abnormal Returns

APRIL 22, 2024

kitces.com) Ultra-wealthy New Yorkers are going to great lengths to prove they have left the state for tax purposes. Robo-advisors and financial advisers are complements. (riaintel.com) How to repurpose your content efforts for maximum impact. bloomberg.com) No surprise here. papers.ssrn.com)

Financial Advising 205

Financial Advising Wealth Management Management Taxes 205

Abnormal Returns

NOVEMBER 6, 2023

wiredplanning.com) Michael Kitces talks with Jon Henderson who is the Founder and CIO for Echo45 Advisors about building a tech stack for a breakaway advisory firm. papers.ssrn.com) Taxes A 2023 year-end tax planning guide. thinkadvisor.com) The 10 best financial advisor conferences to attend in 2024. kitces.com)

Wealth Management 241

Wealth Management Retirement Planning Tax Planning Financial Advisor 241

Nerd's Eye View

OCTOBER 31, 2023

Welcome back to the 357th episode of the Financial Advisor Success Podcast ! Jon is the Founder and CIO for Echo45 Advisors, an independent RIA based in Walnut Creek, California, that oversees $163 million in assets under management for more than 180 client households. My guest on today's podcast is Jon Henderson.

Financial Advisor 215

Financial Advisor Estate Planning Clients Education 215

Nerd's Eye View

APRIL 3, 2024

Yet, by taking a measured look at factors driving economic activity and influencing behavior, advisors can help clients face risks they can't control and (hopefully) position themselves to take advantage of opportunities as they develop. to develop some idea about which of the myriad possible outcomes might be more likely to occur.

Economics 180

Economics Marketing Marketing Valuation 180

Carson Wealth

MARCH 14, 2024

This will allow you to maintain your tax-deferred status and continue to grow that nest egg for your retirement. If you’re not familiar with how to accomplish this consult a financial advisor. This could be your first opportunity to work with a financial advisor and learn about the financial planning process.

Financial Advisor 143

Financial Advisor Consulting Taxes Retirement 143

Advisor Perspectives

FEBRUARY 13, 2024

When it comes to taxes, it's always best to be prepared for any future changes that could either benefit or hurt your clients. This year's inflation-related adjustments to tax brackets and standard deductions could give some of your clients more flexibility to manage their capital gains.

Taxes 52

Taxes Financial Advisor Clients Management 52

Abnormal Returns

MARCH 11, 2024

youtube.com) Brendan Frazier on the benefit to shifting from “Advisor-Driven” to “Client-Inspired” advice. kitces.com) Harness Wealth is offering a new tax advisory platform. wiredplanning.com) Jonathan Fields talks with Ashton Applewhite, author of "This Chair Rocks: A Manifesto Against Ageism."

Wealth Management 249

Wealth Management Clients Taxes Management 249

Nerd's Eye View

FEBRUARY 15, 2023

Health Savings Accounts (HSAs) feature useful tax advantages that make them a popular savings vehicle. One possible outcome of ‘superfunding’ an HSA, however, is that the account owner may not actually use up all of their HSA funds over their lifetime, which can have significant tax consequences. Read More.

Distribution 227

Distribution Taxes Medical Accounting 227

Nerd's Eye View

AUGUST 28, 2023

While many RIAs have already tackled some of the bigger issues around the conversion such as informing clients of the changes and updating regulatory documents, there are still some operational intricacies in the TD Ameritrade to Schwab transition process for advisors to address that could cause headaches if they're missed. Read More.

Financial Advisor 239

Financial Advisor Distribution Clients Accounting 239

Nerd's Eye View

MAY 1, 2023

Welcome to the May 2023 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!

Taxes 189

Taxes Retirement Planning Advertising Retirement 189

Carson Wealth

MARCH 28, 2024

Even traditional IRAs have rules for when the contributions are tax deductible. A financial advisor can help you set short- and long-term goals and then guide you through which savings vehicles could work best for your situation. A financial advisor is there to do precisely what their name implies … advise.

Retirement Planning 142

Retirement Planning Retirement Planning Taxes 142

Nerd's Eye View

APRIL 1, 2024

Welcome to the April 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!

Estate Planning 175

Estate Planning Financial Advisor Startup Clients 175

Nerd's Eye View

JANUARY 8, 2024

For instance, the financial advice industry has seen many changes to regulations (for both advisors and their clients), advisor business models, and the advisor technology landscape. And by building more empathetic relationships and having deeper conversations with clients, advisors who implement Financial Advice 3.0

Financial Advice 187

Financial Advice Medicine Financial Planning Estate Planning 187

Nerd's Eye View

SEPTEMBER 22, 2023

The group argued that this change would help more small firms, which tend not to have the same staffing and resources compared to their larger counterparts, as the SEC contemplates a growing number of new and amended rules.

Financial Planner 206

Financial Planner Clients Taxes Numbers 206

Nerd's Eye View

OCTOBER 2, 2023

Welcome to the October 2023 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!

Communication 228

Communication Portfolio Management Clients Tax Planning 228

Nerd's Eye View

AUGUST 23, 2023

However, the caveat with current CGAs has been that they could only be funded with after-tax dollars before the donor’s death, meaning that if an individual only had tax-deferred funds (e.g., Second, they reduce the donor's tax bill in the year the CGA is created by excluding the amount contributed to the CGA from taxable income.

Taxes 235

Taxes Retirement Clients Estate Planning 235

Abnormal Returns

APRIL 3, 2024

podcasts.apple.com) Dan Haylett talks with financial advisor Ed Combs about the relationship challenges in retirement. wsj.com) How do estimated taxes work? Podcasts Barry Ritholtz talks with Liz Ann Sonders about how to rebalance your portfolio. podcasts.apple.com) Housing Luck matters a lot when it comes to generational home buying.

Math 211

Math Financial Advisor Retirement Taxes 211

Nerd's Eye View

JULY 7, 2023

Which suggests that advisor wellbeing could potentially be improved not only by automating or outsourcing administrative tasks, but also by adjusting their client rosters to better match their ideal client type.

Financial Planner 238

Financial Planner Tax Planning Clients Valuation 238

The Chicago Financial Planner

FEBRUARY 2, 2024

A part of this process might include hiring a financial advisor or hiring a new financial advisor if you have decided to move on from your current advisor. Hiring the right advisor for your needs is critical. Here are six questions to ask when choosing a financial advisor: How do you get paid?

Financial Advisor 249

Financial Advisor Financial Planner Fee Only Clients 249