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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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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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 reported double-digit growth in both revenue (15%) and new clients (16%) over the same period. To read the full article in FinancialPlanning, click: RIAs Bullish on Asset Growth.
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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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Debunking Myths and Getting the Numbers Right The author discusses various methods used to trace property; techniques that are used in connection with marital dissolutions.
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For Financial Reporting Purposes In this article, the author revisits the Market Participant Acquisition Premium (MPAP) issued by The Appraisal Foundation and reiterates the findings regarding what is a premium and what that means.
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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 Eye-Popping Annual AUM Growth.
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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 New 20% Pass-Through Tax Deduction: An Advisor’s Guide.
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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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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 addressed the S corporation tax affecting and availability of discounts for lack of marketability. The issues raised there are frequently raised in other dissolution actions and the reasoning provided by the court regarding…
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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” mediator. Selecting the “case appropriate mediator” saves resources and increases the probability of settlement. This article’s focus is on what to consider when selecting an appropriate mediator.
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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 article in Wealth Management, click: Life Insurance Planning After Tax Reform.
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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 with the dual challenge of managing short-term spending and long-term financial planning. To read the full article in FinancialPlanning, click: How Advisors Can Outthink Robots.
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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 Ready for Retirement.
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In Closing New Business Deals Client education can have a huge impact in accounting and professional service firms’ content marketing efforts. By providing prospects with increasingly valuable pieces of educational content, you can not only attract them to your firm, but also nurture them as they move into and through your sales funnel.
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Understanding Terms and Bridging a Potential Valuation Gap It is not uncommon for litigation to stem from disagreements over the value of privately held companies and ownership interests in those entities. In those situations, many different values are often discussed as the parties attempt to reach a resolution. It is important to make sure that the parties are speaking the same language as far as the type of value being considered—equity value, enterprise value or invested capital value. While these three types of value are related, there are significant differences between them and understanding those differences is important in reaching…
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Financial advisors, more accustomed to fielding questions about fees or the stock market outlook from prospective clients, should get ready to also answer queries about best interest or suitability standards. This is, if state regulators and AARP have anything to say about it. To read the full article in FinancialPlanning, click: AARP Wants Prospective Clients to put Advisors on the Record.
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The Retiree’s Cost of Care Barometer is an Excel planning tool designed to help you measure retiree health care costs and deliver funding solutions and planning advice tailored to your clients’ needs. This tool, developed by James A. Shambo, CPA/PFS (retired), will help you unveil the mystery of health care costs. To read the full article in AICPA, click: The Retiree’s Cost of Care Barometer.
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Illiquid assets may constitute a sizeable chunk of the assets owned by ultra-high-net-worth clients, who often have different needs than other clients in areas such as data aggregation. In many cases, these clients are especially focused on cash flow and philanthropic issues. To read the full article in FinancialPlanning, click: Managing the Unique Needs of Ultra-High-Net-Worth Clients.
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or a Ball and Chain In this article, the author discusses his views on how to value a funeral home.