Insights Financial Planning

 As financial advisors aim to provide more value to their clients, they’ve turned to technology to boost efficiency while providing more comprehensive services. But knowing what to use and when can be a puzzle. In the wide world of financial planning software for advisors, knowing what best fits your firm can be difficult. At …

 If you’re establishing or growing your practice as a financial advisor, you’ve likely heard that gearing your services toward a specific client base can accelerate your growth. Indeed, niches can offer several significant benefits, like helping you build connections and trust with clients. Niches for financial advisors are virtually unlimited. They can include clients …

As a special Christmas present to all of us, the SECURE 2.0 Act became law right before the holiday. The SECURE 2.0 Act caught a ride on the $1.7 billion omnibus spending bill that was unveiled on December 19. While the bill presents numerous changes to existing retirement savings and withdrawal rules, as my present …

 The first goal of any advisor is to help our clients – help them pursue their goals, avoid unnecessary risk and develop a comprehensive financial plan. Simultaneously, you want to grow your business and provide value to your clients. Many advisors focus on growth through finding and converting prospects to clients, whether through marketing, …

Many Americans run into unexpected health care situations, natural disasters or other unforeseeable tragedies that also become financial tragedies. We’ve seen research showing that nearly half of Americans would struggle to cover an unexpected $400 expense and that 56% of Americans could not cover a $1,000 expense with savings. These numbers and surveys vary in …

Back when the SECURE Act passed in 2019, I wrote an article for Forbes called “Why The SECURE Act Makes 2020 The Year of Missed RMDs.” The reality then was that the two biggest and most impactful provisions of the SECURE Act 1.0 were around required minimum distributions (RMDs) from retirement accounts. With the passage …

 While 20 years ago it was possible to thrive as an investment specialist only, that’s becoming increasingly difficult in today’s financial planning services environment. Now clients want advisors who do more than manage their investments – they expect advisors to offer comprehensive financial planning. Comprehensive financial planning can deliver more value to investors. Vanguard’s Advisor’s …

The SECURE Act brought big changes to retirement planning when it was signed into law in 2019. Now, its sequel – dubbed SECURE 2.0 Act – has just passed as part of the 2023 budget. Though SECURE 2.0 Act’s changes to the retirement landscape aren’t quite as sweeping as the original, there’s still plenty advisors …

The SECURE 2.0 Act has passed, making it the largest retirement legislation since the original SECURE Act hit in late 2019. As 55% of Americans say they don’t have enough saved for retirement, this bipartisan legislation primarily seeks to make it easier to contribute to retirement plans and use those funds appropriately for their needs …

Unlike its predecessor, the SECURE 2.0 Act makes major revisions to help Americans save for retirement, which advisors need to understand. The new rules bring plenty of changes for retirees, workers, employers and small business owners. Congress made a clear effort to call out the importance of having an emergency fund and college funding, and …

A couple of years ago, I started to notice a trend: Some advisors I work with were having significant – but sporadic – success with business owners who were exiting their business. These advisors were knocking down the occasional $15 million to $20 million opportunity, but had no formal method for delivering this service or …