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.
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.
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.
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.
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.
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.
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.
Most CPAs and wealth management providers would love to find a way to grow their businesses in a sustainable manner. One solution we don’t often think about is right in front of our noses – especially now, as cold and flu season has arrived.
Ever wonder what separates the most successful CPAs and financial advisors from the pack? Many industry-leading firms attribute their success to their ability to get the most out of year-end planning meetings and tax-season meetings with their clients.
Personal financial planning is nothing less than taking total personal responsibility for one’s life and to make and honor important promises to the people one loves. 1st Global Chairman and CEO Tony Batman shares how, during an epic battle against Stage 3 cancer, having a complete financial plan in place helped save his life.
Each household in America carries roughly $114,000 in debt ($13 trillion divided by the total number of households counted in the 2010 Census). Whether you cater to the affluent or have a lower-income client base, debt is a reality for nearly all of your clients.
Whether you own a local mom-and-pop store or run a global enterprise, all businesses that achieve sustainable growth have one important attribute in common – they never lose sight of “why” they are in the business.
In the face of rising competition, a stagnant economy and increasing demands from clients, successful CPA firms of the future will have to leverage their value and expertise to position themselves as the premier strategic partner for financial solutions.
Plan sponsors typically rely on financial advisors or retirement plan consultants to benchmark their plans and evaluate plan providers. So it is vital for advisors who serve the retirement plan marketplace to have an in-depth understanding of what must be reviewed.