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Impeaching the Unimpeachable

My Testimonial Experience Prior to Taking the Witness Stand One unintended consequence of writing unimpeachably neutral expert reports is that often nobody wants to hear what you have left to say. After having spent nearly two years working as an expert witness, authoring an uncounted number of expert reports, subpoenas, discovery requests, deposition questions, and cross-examination questions, I had yet to ...

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High-Flying Army Vet Becomes CFP Board Chairman

An Army veteran and former air traffic controller who recently was still piloting his own plane to work, Richard Salmen has become the CFP Board's new chairman.  With his choice, the board has returned a working financial planner to lead the nation's largest and most powerful planning nonprofit. To read the full article in FinancialPlanning, click: High-Flying Army Vet Becomes CFP Board Chairman. ...

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Rosier Client Confidence Drives Heavy Inflows into Stocks

Client confidence has climbed and that rosier outlook for the economy and the stock market is propelling robust flows into equities and retirement accounts, advisors say.  Allocations to stocks strengthened sharply, according to the latest Retirement Advisor Confidence Index—Financial Planning’s monthly survey of wealth managers—and helped to support further improvement in business conditions for the invest ...

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Citing “Societal Need” for Planning, Northwestern Mutual Makes M&A Play

Northwestern Mutual, the parent of No. 5 IBD Northwestern Mutual Investment Services, took a majority stake in consulting firm ClientWise, the two firms announced this week.  The partnership will give Northwestern’s advisors access to coaching and digital tools while providing ClientWise with capital. To read the full article in FinancialPlanning, click: Citing “Societal Need” for Planning, Northwestern Mut ...

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Book Review

The Business Valuation Bench Book by William J. Morrison and Jay E. Fishman In this article, Ed Mendlowitz provides readers a review of William J. Morrison and Jay E. Fishman’s The Business Valuation Bench Book; a book geared to judges. ...

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Use LinkedIn

To Market When You’re Busy Marketing requires a continuous effort and presence. In this article, the author shares a marketing alternative that appraisal practitioners should pursue when they are unable to network in person. ...

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Why Aren’t Clients Using QCDs? Help Them!

Qualified charitable distributions can offer a tax-saving opportunity, and they may be more advantageous to consider under the new tax law.  QCDs, which are available only for certain clients, count toward required minimum distributions and are excluded from income. To read the full article in InvestmentNews, click: Why Aren’t Clients Using QCDs?  Help Them! ...

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RIAs Bullish on Asset Growth

After strong gains in revenue, client growth and AUM over the last six months of 2017, RIAs say they’re feeling confident about the economic outlook and plan to capitalize on recent growth, according to a survey from TD Ameritrade Institutional.  Nearly nine out of 10 RIAs surveyed netted new client assets in the past six months and almost half expect AUM to grow at an even faster rate in 2018.  They also r ...

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IBDs in Slow-Footed Race to Let Advisors Text Clients

Firms largely ban texting, even for logistical purposes, amid guidance from FINRA that all business communications must be “retained, retrievable, and supervised.”  Securities America this week became the first of the top 10 largest IBDs to announce a program allowing its advisors to text clients. To read the full article in FinancialPlanning, click: IBDs in Slow-Footed Race to Let Advisors Text Clients. ...

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How to Achieve Eye-Popping Annual AUM Growth

Want to be an industry leader in AUM growth rate?  Start consolidating—but also be prepared for hurdles ahead.  Major acquirers and a platform provider of services for a large number of advisory firms sharply outperformed the five-year compound annual AUM growth rate of 11.7% for all RIAs, according to a new report by Cerulli Associates. To read the full article in FinancialPlanning, click: How to Achieve E ...

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The New 20% Pass-Through Tax Deduction: An Advisor’s Guide

Help Clients Plan for the New Pass-Through Tax Deduction The new tax law includes a 20% deduction for some pass-through business income, but the specifics will vary depending on a client's circumstances.  The rules are fairly straightforward for clients with taxable income under certain thresholds: $157,500 for individuals and $315,000 for joint filers. To read the full article in ThinkAdvisor, click: The N ...

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Avoid “Dangerous” Planning Generalizations After New Tax Law

Now that the status quo of tax planning has been upended by the passage of the Tax Cuts and Jobs Act of 2017, wills, trusts, and portfolios are all due for a once-over and advisors are bracing to make sense of some of the most sweeping tax changes in decades. To read the full article in FinancialPlanning, click: Avoid “Dangerous” Planning Generalizations After New Tax Law. ...

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Tax Court and Leading New York and Delaware Cases

Case Law Update February 2018 In this case law update, we review one U.S. Tax Court case that provides guidance regarding when is a bad debt business loss deductible and whether contributions of money to a business is equity or debt. In addition, we present several Delaware Court cases; one of them, a post-dissolution case where one NACVA member (and another inactive member) testified and the court addresse ...

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How to Select a Case Appropriate Mediator

Factors to Consider Finding the Right Mediator Mediation is a dispute resolution process that is now more popular than arbitration. Many contracts require parties use mediation, if a dispute arises; and courts have adopted the use of mediation to help reduce the number of cases headed to trial. Yet with all this popularity, there remains a significant problem with using mediation: getting the "wrong" mediat ...

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Life Insurance Planning After Tax Reform

Tax Overhaul Directly, Indirectly Affects Life Insurance Planning The recent overhaul of U.S. tax law will affect life insurance planning directly through changes to reporting requirements and tax-basis calculations for contracts.  Indirect effects include the likelihood that many clients will no longer need life insurance to pay the federal estate tax, for which the exemption has doubled. To read the full ...

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How Advisors Can Outthink Robots

As the learning capability of machines continues to improve, advisors are increasingly finding themselves outmaneuvered by robots.  These digital advisors are particularly appealing to millennials, who now represent close to half of the U.S. online banking population.  To that end, there is a technological gap as well as a demographic vulnerability that advisors are facing, especially as they help consumers ...

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Is Your Client Ready for Retirement

Many Americans have not saved a sufficient amount to retire comfortably.  Financial advisors can help their clients determine not only when to retire, but also if they should consider working at least part time in their early years in retirement.  Here are a few questions to ask to jumpstart the retirement planning process with clients. To read the full article in FinancialPlanning, click: Is Your Client Re ...

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