September 30, 2023

Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that a number of states are contemplating a collection of tax hikes focusing on higher-income and ultra-high-net-worth residents after comparable proposals didn’t cross on the Federal degree. Whereas it stays to be seen whether or not the measures will really be enacted, proposed measures embrace elevating revenue and capital positive aspects tax charges, instituting wealth taxes, and decreasing the state property tax exemption, probably creating future planning alternatives for advisors with shoppers in these states.

Additionally in business information this week:

  • Whereas the variety of RIA M&A offers elevated in 2022, the dimensions of those offers declined, maybe reflecting difficult market and financial headwinds
  • A current survey suggests that just about half of economic advisory shoppers have modified advisors or have thought of doing so for the reason that begin of the pandemic and that portfolio efficiency has develop into a major consideration of their decision-making course of

From there, now we have a number of articles on follow administration:

  • Why advisory companies may first contemplate whether or not they’re utilizing their present tech stack optimally earlier than trying to new software program options
  • How advisory companies can higher set up and observe their knowledge to keep away from drowning in a sea of numbers
  • Why agency tradition and alternatives for profession development might be extra essential than beginning wage for a lot of monetary planning job candidates

We even have quite a few articles on money circulation and spending:

  • A assessment of a number of key psychological elements that drive shoppers’ spending selections
  • How customers are probably dropping cash by conserving important money in financial savings accounts at main banks, and the chance for advisors to create money administration methods for shoppers
  • How advisors can help shoppers whose kids endure from ‘failure to launch syndrome’

We wrap up with three ultimate articles, all concerning the monetary recommendation business:

  • Why the competitors for expertise, a pullback in personal fairness funding, and companies balancing effectivity with effectiveness might be key developments throughout the monetary recommendation business within the coming yr
  • How customers may benefit from fee-only recommendation throughout the insurance coverage business
  • The advantages of taking up management positions inside monetary planning business associations

Benefit from the ‘gentle’ studying!

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