Financial Planning - August 2019

Successful firms reveal how they appeal to wealthy prospects — and elite advisors.

The tax law overhaul has created planning opportunities.

When it comes to building these relationships, it’s better to start early.

Revisiting his predictions from 2017, he doubles down on the importance of firms adapting to embrace industry trends — and offers some new forecasts.

Ranking RIAs by AUM or number of employees is misleading.

We’ve reached the point where we need to move beyond the ad hoc approach that has previously characterized professional development.

Advisors need to be willing to take a financial hit for clients

The regulator disclosed a transformative rule change, sparking outrage among fiduciary advocates and some advisors.

Advisory firms are generating "phenomenal" internal rates of return for PE buyers.

Adding clients may increase the top line, but it may come at the expense of profits, free time and even happiness.

With their pro bono efforts, advisors have helped clients manage thousands in debt, plan for future health care costs and even offered healthy recipes.

As robos take over investment management tasks and younger clients demand more services, advisors need to reimagine what they offer.

Smaller RIAs want to follow Schwab’s lead. Will the model boost diversity and attract younger clients?

More than one-third of the $1 billion new assets on the digital advice platform are from new clients.

Firms should be looking to build out a “data lake,” says the firm’s CTO.

Making sure what we say and what clients hear has been a trial-and-error process, but one that’s yielded useful results.

Early planning for potential tax hikes is key.

After a booking error by an advisor, a client barely avoided being taxed on $500,000 and dodged more than $200,000 in taxes and penalties.

As planners flock to these products, sponsors are differentiating their offerings to better stand out.

This basketball analogy can help you explain how portfolio diversification works across multiple asset classes.

For clients’ portfolios that need international diversity, these funds focus on the region.

The message I heard was loud and clear: “You can’t be a financial planner because you are a masculine-presenting lesbian.”