Every week in Weekend Studying For Monetary Planners, we search to deliver you synopses and commentaries on 12 articles masking information for monetary advisors together with subjects masking technical planning, apply administration, advisor advertising and marketing, profession growth, and extra. And as 2024 attracts to an in depth, we needed to spotlight 24 of the most well-liked and insightful articles that had been featured all year long (that you just might need missed!).
We begin with a number of articles on retirement planning:
- Why contemplating a consumer’s retirement time horizon and spending flexibility might result in extra correct (and sometimes larger) secure withdrawal charges than the less complicated “4% rule”
- 4 distinctive dangers retirees face when drawing down their property, from sequence of returns threat to tax threat, and the way monetary advisors may help shoppers mitigate them
- Sensible issues for advisors when participating in (partial) Roth conversions, from assessing the “efficient marginal charge” paid on the conversion to deciding when in the course of the 12 months to finish the conversion(s)
From there, we’ve got a number of articles on tax planning:
- How monetary advisors may help shoppers keep away from (more and more punitive) estimated tax penalties, equivalent to figuring out the quantity they owe and leveraging methods to pay the taxes effectively
- 12 tax planning ideas for early retirees, from balancing the 0% long-term capital features with partial Roth conversions, to being conscious of how completely different revenue ranges can have an effect on numerous subsidies and tax credit
- Why the tax advantages of investing in 401(okay)s in comparison with taxable brokerage accounts may not be as important as is likely to be assumed in sure circumstances
We even have numerous articles on money circulate planning:
- 5 methods that may assist monetary advisors give hesitant shoppers ‘permission’ to spend extra in retirement
- Why the connection between spending and happiness isn’t linear, and what this phenomenon means for consumer spending and life satisfaction
- Tips on how to determine how a lot to spend on a trip, from planning out a 12 months’s value of journeys upfront to being conscious of “luxurious creep'”
Subsequent, we’ve got just a few articles on property planning:
- 5 ways in which shoppers can simplify their property to make sure that their objectives are met and that they do not create extra stress for his or her survivors
- How making a “digital death-cleaning” plan can provide a consumer peace of thoughts that their digital affairs will probably be so as after their deaths and ease the burden on their survivors within the course of
- Whereas offering a “residing inheritance” is usually a tax-efficient strategy to give cash to family members, it comes with a variety of potential issues, from the sustainability of the giver’s monetary plan to the potential intra-family battle it might trigger
We proceed with three articles on insurance coverage planning:
- How advisors may help shoppers select between conventional long-term care insurance coverage insurance policies and hybrid insurance policies that mix long-term care protection with life insurance coverage
- 5 errors people make in terms of Medicare, from underestimating bills to lacking vital deadlines, and the way advisors may help stop them
- How monetary advisors may help shoppers consider the medical health insurance choices out there in early retirement, from staying on their earlier employer’s plan by way of COBRA to acquiring a (probably backed) plan on their state medical health insurance change
From there, we’ve got a number of articles on monetary advisor advertising and marketing:
- Monetary advisory business veteran Joe Duran presents a four-part framework for advisors to realize higher natural progress within the years forward
- How advisors can successfully ask for consumer referrals with out coming off as too ‘salesy’
- How advisors can enhance the relevancy and effectiveness of the “Calls To Motion” (CTAs) on their web site
We wrap up with three last articles, all about apply administration:
- A seven-step course of for constructing an environment friendly, thriving advisory apply, which begins with the agency proprietor crafting a imaginative and prescient for what they need their consumer base and private life-style to seem like
- A step-by-step information to the method of shopping for or promoting an RIA, from the due diligence undertaken by each the client and vendor to the authorized paperwork that may shield each events
- A survey indicating that being proactive with planning methods and communication could possibly be extra vital than portfolio efficiency for monetary advisors in terms of consumer retention
Thanks for letting us be part of your studying record every week and we’ll look ahead to highlighting extra insightful articles in 2025!
