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Wealth management news

Practice

More Advisors Embrace ETFs Over Mutual Funds

According to a Financial Planning Association survey, 81% of financial advisors say they prefer ETFs, while 78% use or recommend mutual funds to clients.
Practice

Study: Thousands of 401(k) Plans Didn’t Pass IRS Nondiscrimination Test

As a result, $820 million in contributions were returned to high-income employees, affecting their retirement savings.
Practice

Aging Clients Are a Potential Boon for Accountants

A potentially vast treasure is looming for accountants willing to provide seniors broader financial planning services beyond traditional offerings.
Practice

How Accountants Can Help Aging Decision-Makers

We often focus on one client who calls the shots. But when that person dies, is his or her spouse’s financial future secure? You are well-positioned to help.
Practice

Survey: Financial Services Industry Still Afflicted by Unethical Behavior

Report says many industry professionals are “in the midst of – and losing – an ethical battle of the highest order.”
Education & Careers

68 Percent of Americans Say They Would Have Financed College Differently: Survey

Top do-over options include attending a less-expensive college and going to a trade school, according to the AICPA.
Practice

Litigation Prompts Revamp of FHA Reverse Mortgage Policy

Regulator will no longer allow lenders to delay demanding payoffs of certain reverse mortgages by the surviving spouses of the deceased borrowers.
Practice

New NASAA Rules Require Written Succession Plans

Advisory firms and their clients will now have to think strongly about documented succession plans, according to new guidance from the NASAA.
Practice

Regulators Ramp Up Scrutiny of Brokers in an Effort to Protect Senior Investors

Recent report highlights concerns about improper investment recommendations made by financial advisors to seniors.
Practice

Workers and Retirees Lack Funds Despite Confidence in Ability to Save

Employee Benefit Research Institute survey also found that fewer people are having debt problems than in years past.
Practice

The Financial Satisfaction of the Average American is On the Rise

AICPA index finds that Americans' financial situation should be in better shape now than at the start of the year.
A&A

CPA Financial Planners Say Clients’ No. 1 Concern is Outliving Their Money

AICPA survey finds that retirement account withdrawals and healthcare costs also worry high-net-worth individuals.
A&A

The Top 4 Financial Topics You Should Cover with Your Clients This Tax Season

Accountants should use this time of year to help clients deal with financial issues well beyond paying taxes.
Education & Careers

8 Lessons You and Your Clients Learn by Watching Downton Abbey

It's no joke: your Baby Boomer clients learn financial lessons from the show that are applicable a century later.
Wealth management

Friendly Reminder: Medicare Surtaxes Increase Taxes for Many

Obamacare's two separate Medicare surtaxes can complicate tax time—especially for investors.
Wealth management

Plan Ahead to Avoid Required Minimum Distribution Nightmares

Tax time is also for planning ahead, so the next tax season goes smoothly, with no nasty surprises.
Wealth management

How to Save on Taxes by Sharing the Wealth with the Family

When gift givers transfer ownership of income-producing property that has gone up over the years, everyone can win.
Wealth management

How to Donate Property: Avoid a Tax Punishment for a Good Deed

Cash is cash, but when you're donating property to a charity, there's a long list of rules that can reduce your tax break. Read the rules before you sign over that deed.
Wealth management

How to Work Around Intricate 'Kiddie Tax' Rules

The Tax Reform Act of 1986 introduced the complex "kiddie tax" rules. They restricted parents and grandparents from shifting investment income to lower-bracket youngsters.
Practice

4 Ways to Handle Gen X

They've made mistakes and may have money troubles, but it's not too late for their accountants to help them achieve a happy ending with a comfortable retirement. Sit down and have a good talk with your Gen X clients.

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