Every week in Weekend Studying For Monetary Planners, we search to carry you synopses and commentaries on 12 articles masking information for monetary advisors together with matters masking technical planning, apply administration, advisor advertising, profession growth, and extra. And as 2024 attracts to a detailed, we needed to focus on 24 of the most well-liked and insightful articles that have been featured all year long (that you simply might need missed!).
We begin with a number of articles on retirement planning:
- Why contemplating a shopper’s retirement time horizon and spending flexibility may result in extra correct (and infrequently increased) 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 might help purchasers mitigate them
- Sensible issues for advisors when partaking in (partial) Roth conversions, from assessing the «efficient marginal fee» paid on the conversion to deciding when through the yr to finish the conversion(s)
From there, we now have a number of articles on tax planning:
- How monetary advisors might help purchasers 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 positive aspects with partial Roth conversions, to being conscious of how totally different revenue ranges can have an effect on varied subsidies and tax credit
- Why the tax advantages of investing in 401(ok)s in comparison with taxable brokerage accounts won’t be as vital as could be assumed in sure circumstances
We even have plenty of articles on money movement planning:
- 5 methods that may assist monetary advisors give hesitant purchasers ‘permission’ to spend extra in retirement
- Why the connection between spending and happiness will not be linear, and what this phenomenon means for shopper spending and life satisfaction
- The way to resolve how a lot to spend on a trip, from planning out a yr’s price of journeys upfront to being conscious of «luxurious creep'»
Subsequent, we now have a number of articles on property planning:
- 5 ways in which purchasers can simplify their property to make sure that their targets are met and that they do not create extra stress for his or her survivors
- How making a «digital death-cleaning» plan may give a shopper 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 «dwelling inheritance» generally is a tax-efficient approach to give cash to family members, it comes with a spread of potential issues, from the sustainability of the giver’s monetary plan to the potential intra-family battle it may trigger
We proceed with three articles on insurance coverage planning:
- How advisors might help purchasers 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 relation to Medicare, from underestimating bills to lacking essential deadlines, and the way advisors might help stop them
- How monetary advisors might help purchasers consider the medical insurance choices obtainable in early retirement, from staying on their earlier employer’s plan via COBRA to acquiring a (doubtlessly backed) plan on their state medical insurance alternate
From there, we now have a number of articles on monetary advisor advertising:
- Monetary advisory trade veteran Joe Duran provides a four-part framework for advisors to realize higher natural progress within the years forward
- How advisors can successfully ask for shopper referrals with out coming off as too ‘salesy’
- How advisors can increase the relevancy and effectiveness of the «Calls To Motion» (CTAs) on their web site
We wrap up with three remaining 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 shopper base and private life-style to appear 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 essential than portfolio efficiency for monetary advisors in relation to shopper retention
Thanks for letting us be part of your studying listing every week and we’ll stay up for highlighting extra insightful articles in 2025!