Every week in Weekend Studying For Monetary Planners, we search to convey you synopses and commentaries on 12 articles masking information for monetary advisors together with matters masking technical planning, apply administration, advisor advertising, profession improvement, and extra. And as 2024 attracts to an in depth, we wished to focus on 24 of the preferred and insightful articles that had been featured all year long (that you simply 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 infrequently 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 can assist shoppers mitigate them
- Sensible concerns for advisors when participating in (partial) Roth conversions, from assessing the “efficient marginal charge” paid on the conversion to deciding when throughout the 12 months to finish the conversion(s)
From there, we’ve a number of articles on tax planning:
- How monetary advisors can assist shoppers keep away from (more and more punitive) estimated tax penalties, comparable 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 good points 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 won’t be as important as may be assumed in sure circumstances
We even have quite a few articles on money movement planning:
- 5 methods that may assist monetary advisors give hesitant shoppers ‘permission’ to spend extra in retirement
- Why the connection between spending and happiness just isn’t linear, and what this phenomenon means for consumer spending and life satisfaction
- Learn how to determine how a lot to spend on a trip, from planning out a 12 months’s price of journeys upfront to being conscious of “luxurious creep'”
Subsequent, we’ve a couple of articles on property planning:
- 5 ways in which shoppers can simplify their property to make sure that their targets are met and that they do not create further stress for his or her survivors
- How making a “digital death-cleaning” plan may give a consumer peace of thoughts that their digital affairs shall be so as after their deaths and ease the burden on their survivors within the course of
- Whereas offering a “residing inheritance” generally is a tax-efficient strategy to give cash to family members, it comes with a variety of potential concerns, 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 can assist 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 relating to Medicare, from underestimating bills to lacking essential deadlines, and the way advisors can assist forestall them
- How monetary advisors can assist shoppers consider the medical health insurance choices out there in early retirement, from staying on their earlier employer’s plan by COBRA to acquiring a (probably backed) plan on their state medical health insurance change
From there, we’ve a number of articles on monetary advisor advertising:
- Monetary advisory business veteran Joe Duran gives a four-part framework for advisors to realize higher natural development within the years forward
- How advisors can successfully ask for consumer 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 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 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 customer and vendor to the authorized paperwork that may defend each events
- A survey indicating that being proactive with planning methods and communication could possibly be extra essential than portfolio efficiency for monetary advisors relating to consumer retention
Thanks for letting us be part of your studying checklist every week and we’ll look ahead to highlighting extra insightful articles in 2025!
