Wealth management news

Education & Careers

Coaching Clients on the Rising Cost of College

Only the cost of fuel oil and gasoline has risen more than the cost of college tuition over the past 10 years, rising a staggering 88 percent since 2003.As higher education tuition costs continue to rise, saving for college is becoming increasingly difficult for many American families.
Practice

Wealth Management for Women: Creating a Women’s Circle

Female clients of wealth management firms often have different circumstances behind their financial planning needs. Some are breadwinners and business owners, while others are at-home family caregivers. Some worry about paying college tuition, caring for an elderly family member and managing household finances. Nearly all put their families’ needs ahead of their own.
Practice

Are You the Choice of the Next Generation?

For the majority of firms in the tax, accounting and financial advisory business, your well-worn, trusted client base of baby boomers is preparing to “blow out” and apathy toward younger generations of clients has left you without a “spare.”
Practice

Leading with Advocacy

The Financial Services Institute was founded to give a voice in Washington to Independent Broker Dealers and Independent Financial Advisors, and also to help ensure that all individuals continue to have access to competent and affordable financial advice, products and services delivered by a robust profession of independent financial advisors and independent broker dealer firms.
Practice

Is the End Near for Long-term Care Insurance?

Add together prolonged low interest rates to advances in both health care and life expectancy, sprinkle in spiraling costs of healthcare and you have a recipe for major change in the long-term care (LTC) insurance industry
Practice

The Benefits of Hosting a Client Seminar

Do you value your clients? Are you doing everything you possibly can on their behalf? Do they view your firm as a leader in the community? If you’re not answering yes to all of these questions, then it’s time to start thinking about hosting a client seminar.
Practice

Does It Pay to Diversify?

One way we can help our client investors possibly avoid financial catastrophes and achieve greater returns with less volatility is to encourage them to diversify their portfolios properly. The notion of diversification isn't new but clients don’t always have the knowledge of how to diversify.
Practice

Wealth Advisors Embracing Their Independence

Current events can often dictate wealth advisor behavior, particular when it comes to the prospect of becoming an independent advisor. With financial markets riding high and tax season behind us, many CPA firms that sat on the sidelines are now re-engaged and looking for new ways to boost their bottom lines and explore the growth component our industry: wealth management.
A&A

How CPAs Can Protect Baby Boomers' Nest Eggs from Derailers

Unexpected life or economic events are causing both short- and long-term damage to the retirement savings of baby boomers in America, according to a recent survey by Ameriprise Financial Inc. But there are strategies CPAs can implement to stop the bleeding.
Practice

Meeting the Needs of Women Clients

Think of the best relationship you have with a male client. He’s been with you for many years and you consider yourself “old friends.” How is your relationship with his wife? If your answer is anything other than “spectacular,” you should read the following carefully: There’s a 70 percent chance your client’s wife will fire you within a year after the death of her spouse.
Practice

Finding Financial Planning Wisdom in Hollywood's Great Movies

One of the most important traits of a successful business owner is knowing “why” – why you do what you do. In a service-based business like ours, knowing your “why” is essential to helping clients feel confident that you are giving them excellent advice and to knowing you care about them and their families.
Practice

The Myth of "I Can't"

What you believe is the most important thing about you. To accomplish something you never accomplished before, you need to challenge those beliefs.
Practice

The One Key to a Dignified Retirement? Starting Early

The role of a financial planner and particularly a financial planner in a CPA firm, is to educate our clients that retirement planning is not about market timing. It's not about investment returns. It's all about having a consistent plan and then sticking to that plan.
Practice

Strategies for Utilizing Permanent Life Insurance in Qualified Plans

One of the advantages offered by qualified retirement plans is the ability to acquire life insurance on plan participants using existing plan assets and future contributions to pay the premiums. This allows the plan to obtain life insurance coverage on plan participants with tax-deductible dollars.
Practice

Eight Major Risks to Your Clients' Retirement

Everyone wants a safe, stable and certain flow of income to sustain their ideal retirement. But if you were to ask five different relatives and friends what retirement means to them, you would likely receive five different answers.
Practice

Firm Leadership Styles That Work

Leadership matters. No one reading these two simple words would dispute their truth, but they may prompt questions: How much does it matter? What separates strong leadership from weak?
Practice

If Price Were Not a Factor, What One Problem Would You Like to Solve?

Ask your clients this one simple question and open the clients to a new perspective. In general, clients only see us providing the service that they currently receive. They know they want something more, but they don't know whether we provide it.
Practice

Bringing Your Firm’s Mission to Life

Writing and publishing a mission statement is the greatest step you can take toward making sure that your practice is in alignment with your values and with your firm's vision and actions. But you must live by it to achieve its full potential.
Practice

What Five More Years Means for Your Retirement

People want to age with dignity, and they want to be assured that they can be independent and free from being a burden to others in their retirement. The key for many to securing a dignified retirement is working a few additional years.
Practice

Dealing with Dementia - Practical Knowledge for Your Practice

Every year, countless Americans with dementia fall victim to financial fraud and abuse. They face an increased risk of being taken advantage of due to their diminished ability to detect willful deceit and understand finances.

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