Financial advisors spend a significant portion of their time on back-office tasks and the search for new clients. New technology does not necessarily allow advisors to add more clients but may instead enable them to provide deeper services to their existing clients. To read the full article in Nerd’s Eye View, click: What Advisors do with their Time.
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Excuse me, did Todd Thomson just say there too many financial advisors, not too few? Puncturing one of the RIA industry’s most widely-accepted axioms, the Dynasty Financial Partners chairman did indeed make that assertion at the recent MarketCounsel Summit in Las Vegas. Contrary to ominous reports of a talent shortage, Thomson said, too many advisors are serving too few clients. To read the full article in Financial Planning, click: Advisor Shortage? What Advisor Shortage?
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Soon after President Trump signed the bill, some wealthy clients who owned businesses needed to know if they could save on taxes by buying manufacturing equipment in 2017. Others needed advice on whether to pay state income tax by Dec. 31 if they were not subject to the alternative minimum tax. To read the full article in FinancialPlanning, click: New Tax Law, More Business for Financial Advisors.
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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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Financial advisors face a slew of new regulatory issues in 2018, and when it comes to compliance, they are “better off changing the oil regularly than waiting for the engine to blow up.” That vivid warning comes from Todd Cipperman, founder of Cipperman Compliance Services, a consulting firm specializing in regulatory compliance. To find out what to expect next year according to Cipperman, as well as Bao Nguyen of Kaufman Rossin’s risk advisory services practice, please click through our slideshow. To read the full article in FinancialPlanning, click: Sixteen Compliance Trends to Watch in the New Year.
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The college selection process can have significant financial implications, so the entire family should be involved in the decision. The difference in cost between public and private universities is substantial, and the impact on a family’s future wealth will be even larger as a result of compound growth. To read the full article in the Financial Advisor, click: Helping Clients Understand the ‘Real Cost’ of College Planning.
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Fear is keeping many Americans from seeking help from a financial adviser, according to a survey conducted by the Harris Poll for financial-planning firm McAdam. More than 70% of respondents said some aspect of dealing with an adviser scares them. The cost of getting advice was the top concern, at 49%. Mary Kate Nelson looks at the survey results. To find out more about this Reverse Mortgage Daily article, click: 71% of Americans Fear Talking to Financial Advisers.
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There are many reasons why clients need solid financial advice in these turbulent times. This article lays out four of them, starting with the observation that nobody—or almost nobody—can time the markets. Bob Clark, Editor-at-Large for Investment Advisor Magazine, explains the importance of speaking to the client’s understanding and the importance of a financial advisor’s role. To find out more on ThinkAdvisor’s article, click: 4 Reasons Clients Need You Now.