Financial Planning

Thanks to technology and the rise of passive investing, putting together a sophisticated, diversified portfolio has never been easier.

We all know someone who has passed away without their affairs in order. As financial advisors, we have a responsibility to ensure that this doesn’t happen to our clients.

Double-digit increases in rates are common. I’m definitely feeling the pain, as I suspect you are. So here are a few things I do to help my clients save some money.

Waiting until 67 or 70 may not feel like the best choice in the moment. Yet the extra income could mean more freedom from financial stress and more ability to enjoy your later years with peace of mind.

Hedge fund executive Cliff Asness says artificial intelligence is becoming “annoyingly better” at doing parts of his job.

Understanding how money impacts human behavior and psychology may help serve your clients effectively.

The decision of whether to generate lifetime income with an annuity should be made on its own merits, e.g., as part of a holistic, goals-based investing process. In those cases where annuitized income is deemed beneficial, though, this article has illustrated why the purchase of a qualified annuity from IRA assets may be more attractive than you might expect.

For couples, merging two financial lives can be tricky. Not every financial planner has the skills to effectively help you navigate that challenge. Yet the right advisor can guide you away from chronic money conflict and toward a successful partnership.

The following are hypothetical examples of statements of overconfidence, excessive humility, and confident humility by financial advisors. As you read them, examine how you would react if any were said to you.

As more women find themselves sandwiched between caring for their children and aging relatives, many struggle to balance their short-term responsibilities with their long-term financial plans.

Understanding how to help a couple explore each partner’s financial history and validate their goals and anxieties can make all the difference in helping them reach a middle ground without feeling sidelined or resentful.

Don’t let your clients lose sight of their goals in financial complexity. Give them the clarity and simplicity they crave with a one-page plan that’s tailored to their unique needs.

Sirion Skulpone of Goldman Sachs Asset Management talks through the risks of being concentrated in individual stocks.

Top financial professionals have a clear understanding of their unique strengths and are able to convey them to clients. To set yourself up for success, distinguish yourself in the market through specialized expertise and tailored client services.

Gen Z and millennials are widely considered to be the most diverse and socially conscious generations yet. They are vocal about their interest in driving social impact. And their values and priorities dictate their actions, all of which are actively shaping the future.

I think I have all the information I need to provide a view that others can confidently rely on, whether personal or professional advice. There’s just one problem: I’m often wrong. Why is that?

Don’t wait for financial symptoms to show up. Annual financial checkups can help maintain your current financial fitness and support your long-term financial wellbeing.

Our model, How America Spends, has been tracking the purchasing behavior of 135 million U.S. households since 2014. This model is not a black box – it is a data file representing the spending of 135 million households on goods and services since 2014.

President-elect Donald Trump pledged last month to eliminate “the Double Taxation of overseas Americans.” Never mind the clumsy wording — taxes on US citizens working abroad aren’t excessive so much as excessively complicated — this is one campaign promise that may actually be fulfilled, given the Republican control of both houses of Congress. That would be a good thing not only for those Americans but also for America.

Let's keep our client meetings focused and manageable. By doing so, we not only respect their time and attention but also increase the likelihood of them taking the necessary steps to achieve their financial goals.

While baby boomers can be slower to embrace technology, younger investors tend to seek out and prefer tech-focused services and providers. This preference for technology is something advisors should lean into to connect with younger generations of investors.

Despite being the generations with the most knowledge, experience and potential resources, many are still unsure about their financial future.

In the midst of grieving your loved one’s loss and making funeral arrangements, you may also be responsible for finalizing their estate, which could include inheriting real estate.

Next-generation investors are looking for more than just traditional portfolio managements, and advisors should look to meet those expectations.

Consistent communication through market events is vital for advisors concerned about client retention.

The "ideal life" is a harmful myth that can distort perceptions of success and happiness. By recognizing different values and goals, you can foster a more inclusive – and realistic – understanding of what it means to lead a fulfilling life.

Most advisors grow by referral and word of mouth. But what happens when your clients stop talking about you? Here are three ways to start marketing.

When done effectively, your outsourced team of professionals can help improve efficiencies, increase productivity, and scale profitably – all while giving you the freedom to focus on what you’re most passionate about.

There is a demographic that likes to work with you and consistently hires you – you probably just don’t have it defined for you and your team. If you don’t know who you work best with, there is no way that your prospect efforts will be profitable. Rather, they will be coincidental.

Here, we'll explore why serving family offices is a natural fit for many RIAs, discuss the considerations that need to be factored in when launching an MFO practice, and offer a roadmap for successfully building one.

I have developed a seven-step framework that has been used countless times to assist advisors looking to build a $1 million, 100-days-off practice, as well as help leaders of seven-figure firms scale their success to new heights.

Risk. It’s a tiny word for a critical investment concept, one that necessarily merits ample discussion by advisors with their clients. Unfortunately, evidence suggests this may not be happening evenly across the advisory industry.

Rather than go back and reminisce about the articles I’m most proud of, I think a better exercise is to look at those I got wrong and reflect on what might be learned.

It's important to stay informed regarding the latest updates to 529 college savings plans, for both current account holders and prospective savers. In recent years there have been significant changes, including The Setting Every Community Up for Retirement Enhancement (SECURE) 2.0 Act in December of 2022, which helps enhance the flexibility and benefits of 529 plans.

Opening a 529 college savings account can be a smart move if you’d like to save for college on a tax-advantaged basis. One thing to consider when opening a 529 plan is whether it should be a custodial or individual account. While both allow you to save for college costs and enjoy some tax breaks, they differ in terms of who has control of the account and the assets in it.

529 plans are one of the most popular ways Americans save for the college expenses of their children. As of June 2024, there were 16.8 million 529 savings accounts holding $508 billion, according to the College Savings Plan Network.

This article will explore how to increase your AUM by capturing assets in trusts and DAFs, explain the difference between directed and traditional trustees, and discuss why designating a directed trustee and an advisor-friendly DAF is in the client’s best interest.

With over 20 years of experience in web design and development, I’ve seen firsthand how the right website can transform a financial advisor’s business.

In an age of accelerating progress in artificial intelligence, everyone is debating AI’s implications for the labor market or national security. There is far less discussion of what AI could or should mean for philanthropy.

The looming wealth transfer from Baby Boomers and the Silent Generation to younger generations is set to reshape the financial landscape in unprecedented ways. Estimated at $84 trillion, this transition is a huge financial event.

Unbundling services and offering them à la carte could appeal to clients who want more control over their financial management. This approach allows clients to tailor the services they receive to their unique needs and preferences.

Earned media acts as a third-party stamp of approval for your firm, generating more referrals while boosting existing referrals.

Reaching age 65 with a net worth of $1 million dollars is a way to provide a comfortable and secure retirement. It is also a reasonable and achievable goal for many middle-class workers who would, quite accurately, never describe themselves as wealthy.