In the wake of the recent TD-Schwab merger on September 5th, a meaningful issue has come to light for clients with IRAs, specifically concerning Required Minimum Distribution (RMD) records not seamlessly transitioning to Schwab’s platform. This InvestmentNews Article highlights it well. This oversight serves as a stark reminder of the crucial role that well-established processes […]
Issues With Client RMDs After TD-Schwab Merger Read More »
Be aware that Medicare Premiums for Part B increase as a person’s income increases through brackets set forth each year. Here is our latest “print and post” reference page to keep on hand when planning a clients income. It could help to prevent a client paying higher Medicare premiums without intending to, or it may
2024 Medicare Premiums for Part B Income Brackets Read More »
Ever have a client ask what their RMD percentage withdrawal amount is? Here is an easy to read “print and post” summary table of the IRS Uniform Lifetime Table III for RMDs For Use by: Unmarried Owners, Married Owners Whose Spouses Aren’t More Than 10 Years Younger, and Married Owners Whose Spouses Aren’t the Sole
IRS Uniform Lifetime Table III for RMDs Read More »
As a firm grows so do the sources of a Financial Advisor’s E&O liability, and often the risk is created by changes in regulations forced upon them. The IRS’s recently changed Required Minimum Distributions (RMDs)rules have resulted in a recent surge in articles, (such as these) highlighting the complexities and forcing financial advisors to spend
5 Steps To Reducing Financial Advisor’s E&O Liability Read More »
IRS 2024 Contribution Limits Released. The Internal Revenue has released the 2024 contribution limits for qualified plans. Notice 2023-75 contains the full text. You may also download our print and post summary. 2024IRSLimits The Employee Training and Development Partner for Independent Financial Advisory Firms [wpforms id
IRS 2024 Contribution Limits Released Read More »
Experience or Skills, which should you focus on when hiring? In the world of financial advisory firms, the conventional wisdom has often been to seek applicants with extensive industry experience. However, it’s time to challenge this age-old notion and consider a new perspective. Instead of placing the sole emphasis on industry experience, financial advisory firms
Experience or Skills? Transforming Hiring Practices in Financial Advisory Firms: Read More »
Imagine one of your top clients unexpectedly visits your office during your vacation in Fiji, questioning their financial statements. This situation prompts two key questions: How does your staff handle the inquiry? This question reflects your confidence in your team’s capabilities. Are they equipped to effectively address an unplanned interaction with a crucial client? Will
Your Trip To Fiji May Be Effected By Your Employee Training Plan Read More »
Treat your employees like you treat your clients…maybe better There has been extensive discourse surrounding the importance of advisors making their clients feel valued, confident, and engaged. However, what often escapes the attention of many advisors is the equal significance of cultivating a workforce culture of value. When employees feel valued, they not only perform
In the world of financial advisory firms, a securities license is often seen as a ticket to success for a Client Service Associate, but it shouldn’t be mistaken for a successful employee training plan. While it’s an important credential for client facing staff, it’s crucial to understand that holding a securities license alone does not
Licensing Is Not a Training Plan for Your Client Service Associate Read More »
The Reputation of Financial Advisors: How Employees Shape Your Brand In the world of finance, reputation is everything. It’s the bedrock upon which trust is built, and trust is the currency of the realm. A financial advisor’s reputation is not just a personal asset; it’s the brand that clients invest in. However, what many advisors
As a Financial Advisor Your Employees Shape Your Brand Read More »