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 median of $5.5 million in property to each retire and cross on a legacy curiosity (although many have but to determine an property plan), in response to a latest survey. On the similar time, in addition they overwhelmingly acknowledge the worth of economic advisors, not solely for rising their wealth past what they might have achieved on their personal, but additionally for serving to them really feel extra ready and fewer careworn about their funds!
Additionally in trade information this week:
- A latest survey signifies that monetary advisors proceed to maneuver in the direction of ETFs and away from mutual funds relating to consumer portfolio suggestions, although a majority of advisors proceed to see a task for lively 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 prospects to make use of the corporate’s personal higher-fee managed accounts moderately 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 is perhaps participating in comparable practices
From there, we’ve got 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 latest Supreme Court docket ruling relating to buy-sell agreements signifies the worth advisors can add by reviewing these preparations to make sure they meet their shoppers’ wants with out creating a further tax burden
- How monetary advisors will help shoppers 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 and marketing:
- Whereas an advisor would possibly be tempted to spend most of a prospect assembly explaining their private story and the worth they’ll supply, lively listening may very well be a more practical strategy to construct belief with the prospect and improve the probabilities they determine to change into a consumer
- How utilizing a easy visible “street map” will help tie collectively for a prospect an advisor’s verbal rationalization of their companies and the subsequent steps if the prospect decides to change into a consumer
- How flipping ache factors into optimistic, achievable targets to work in the direction of will help prospects higher perceive the worth an advisor gives
We wrap up with 3 ultimate articles, all about the price of automobile possession:
- How a mixture 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 properly past the general inflation charge throughout the previous 12 months
Benefit from the ‘gentle’ studying!
