Advice

Answers To Questions From Advisors About Using Mind Maps In Practice Management - Part II

At a recent webinar on A4A, I spoke about how I’ve been using mind maps to successfully launch my RIA, grow AUM, and benefit from stronger relationships with clients based on transparency. Here are answers to some of the questions posed by advisors attending the session:

How Inflation Eats Away At Retirement Plans

Although the rate of consumer price inflation (as measured by the Consumer Price Index) is running at a subdued 1.7% year-over-year, the risks are increasing for higher inflation down the road. The Federal Reserve recently said it will continue to pump money into the financial system by buying billions of dollars worth of mortgage securities every month. This, combined with the trillions they have already pumped into the system, has potential to ignite much higher inflation over the coming...

Financial Advisors Are Ill Equipped To Help Clients With Financial Aid Forms For College

It’s college time, and parents of high school seniors across the country – myself included – are scurrying to figure out a good many things, such as how to fill out the FAFSA, Common Application, and CSS PROFILE. They are also trying to figure out how to title accounts earmarked for college costs. And the list goes on. Financial advisors, however, are somewhat ill-equipped to help clients with some of the finer details of applying to college and helping their clients get...

Is the Fechtel Method a Better Way to Evaluate Cash Value Life Insurance Policies?

R. Brian Fechtel is a life insurance agent, a Chartered Financial Analyst, and the founder of Breadwinners’ Insurance. In an article in the September issue of the Journal of Financial Planning (“Bringing Real Clarity of Cash Value Life Insurance to the Marketplace”), Fechtel makes these good points:

Advisors Say Census Bureau Report On Income In America Highlights Need For Budgeting And Financial Planning; Typical U.S. Family Income Falls To Lowest Level Since 1995

The overall market for providing financial advice to middle-class America might be shrinking, given the latest Census Bureau report about income in America. But the need for financial planning and financial advisors might be greater than ever before.

Advisors Need To Help their Older Clients Stay Employed Or Get Re-Employed

Financial advisors will increasingly need to help their older clients figure out what it takes to stay in the workforce or re-enter the workforce. The reason being this: Many older Americans, including those who are clients of advisers, will need earned income to make ends meet in retirement. Trouble is very few advisors know how to help their older clients stay employed or get re-employed. They don’t know what skills or knowledge or experience might be needed for their clients stay...

Capital Gains Harvesting InfoGraphic From Bob Keebler

The 2012 Capital Gains Harvesting infographic from Bob Keebler is a free resource for A4A members. Please download it

Troika Of Market Factors Affecting Retirement Makes Planning Too Complex For Investors To Navigate On Their Own; They Need Your Help

In direct opposition to the advice given from PIMCO’s Bill Gross this week, BlackRock Inc.’s Quintin Price is advising older clients to hold more equities as they age. This advice is based on the new reality that people are living longer.   The troika of factors include the need for income, the need to preserve buying power, and the need to beat inflation. This is a new age in retirement planning and your clients need you to bring them into it with more customized,...

Retirement Age Is Less Standard Today And The Decision Involves A Plethora Of Factors

One of the standard questions for retirement plans is, at what age do you plan to retire? The question used to receive a fairly standard answer but that’s no longer necessarily the case.

How To Take Into Account Life Expectancy In Retirement Plans

One of the biggest variables that confront advisors and their clients when planning retirement is the clients’ life expectancy. Some clients like to use the life expectancy of their age group or the life expectancy numbers that exist for a person born today. But this can be very misleading and can result in clients running out of money in retirement.

Gen X And Gen Y Start On Retirement Saving A Decade Earlier Than Baby Boomers; Like Those Who Came Of Age In The Depression Era, Younger Generations Have Come To Grips With Tougher Times

Nearly 60% of Americans born between 1965 and 1989 are making automatic contributions toward their retirement savings,compared to 46% of non-retired Baby Boomers born between 1946 and 1964. In addition, the younger generations that followed Boomers start saving for retirement, on average, in their mid- to late-twenties, nearly a decade earlier than Boomers, according to a survey released by TD Ameritrade.

How Are Whole Life Dividends Determined?

Suppose you receive a $1,000 dividend on your whole life policy. How was that determined? Why wasn’t it $1,100 or $900? How can you be sure that $1,000 is what you should be receiving?

Educating Yourself About The Full Scope Of Social Security Benefits Will Help You Give Better Advice To Your Clients As They Decide When To Claim Benefits

As the Boomer population ages, questions about how to best utilize Social Security benefits become part of their investment strategy. To adequately advise them, it’s imperative to fully understand how Social Security benefits work.

Answers To Questions From Advisors About Using Mind Maps In Practice Management And Client Interaction

At a recent webinar on A4A, I spoke about how I’ve been using mind maps to successfully launch my RIA, grow AUM, and benefit from stronger relationships with clients based on transparency.

Questions?

How and why does the Advisor Products system work?

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