Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that prosperous People consider they want a mean of $5.5 million in property to each retire and go on a legacy curiosity (although many have but to ascertain an property plan), in line with a current survey. On the identical time, additionally they overwhelmingly acknowledge the worth of economic advisors, not solely for growing their wealth past what they might have achieved on their personal, but additionally for serving to them really feel extra ready and fewer burdened about their funds!
Additionally in business information this week:
- A current survey signifies that monetary advisors proceed to maneuver in direction of ETFs and away from mutual funds in relation to shopper portfolio suggestions, although a majority of advisors proceed to see a task for energetic administration within the funding administration course of
- A former worker has filed a lawsuit alleging Reg BI violations at Constancy, together with a push for advisors to push clients to make use of the corporate’s personal higher-fee managed accounts relatively than lower-cost funds, which, if discovered to be true, might result in a wider SEC investigation and sound a warning for different companies that could be participating in comparable practices
From there, we’ve a number of articles on tax planning:
- Amidst a broader tax enforcement push, the Treasury Division this week introduced that it plans to crack down on “foundation shifting” transactions utilized by sure partnerships to scale back their tax payments
- A current Supreme Courtroom ruling concerning buy-sell agreements signifies the worth advisors can add by reviewing these preparations to make sure they meet their purchasers’ wants with out creating a further tax burden
- How monetary advisors may also help purchasers keep away from (more and more punitive) estimated tax penalties, from figuring out the quantity they owe to leveraging methods to pay the taxes effectively
We even have various articles on advisor advertising:
- Whereas an advisor would possibly be tempted to spend most of a prospect assembly explaining their private story and the worth they will provide, energetic listening might be a more practical method to construct belief with the prospect and improve the probabilities they determine to turn into a shopper
- How utilizing a easy visible “street map” may also help tie collectively for a prospect an advisor’s verbal rationalization of their providers and the following steps if the prospect decides to turn into a shopper
- How flipping ache factors into constructive, achievable targets to work in direction of may also help prospects higher perceive the worth an advisor affords
We wrap up with 3 last articles, all about the price of automobile possession:
- How a mix of elevated sticker costs and rates of interest are combining to dramatically improve the price of buying a brand new (or used) automobile
- How the maths behind the choice of whether or not to drive a automobile ‘into the bottom’ or purchase a brand new one has modified in recent times
- Why automobile insurance coverage premiums have spiked effectively past the general inflation price through the previous yr
Benefit from the ‘mild’ studying!
Learn Extra…
