If history repeats itself, we may be headed toward a market correction and that can mean a scary time for your clients. Are you prepared to deliver a message that could save them from potentially losing retirement savings?
With one of the greatest wealth transfers in history upon us, this is a time of tremendous opportunity for financial professionals. But with that, comes tremendous responsibility. You have a lot to consider when making recommendations to your clients on their retirement and wealth transfer strategies.
The business market can be one of the most lucrative but under served segments for financial professionals. One of the most difficult scenarios business owners face is the solely owned business. Without another major owner to participate in a traditional buy out, many businesses end up being liquidated at little value with a negative impact on the employees.
Tags: business management
Whether your clients file their taxes with the assistance of an online preparation service or by working with you or a tax professional, they may have been advised to contribute to a qualified plan like an IRA in order to minimize their previous year’s taxes. Where clients have allocated their resources may increase their taxes in retirement and contribute to determining their Required Minimum Distributions (RMDs).
There is no right or wrong way to build a financial services agency or marketing company. The direction an owner initially begins with may not be the direction he or she finally ends up with. However, all owners need to think about where their company is headed.
Final regulations from the Internal Revenue Service (IRS) may impact the application of pass through income deductions for financial professionals. The Tax Cuts and Jobs Act (TCJA) is one of the most sweeping tax changes in 35 years. It provided major tax benefits for financial services businesses along with lower taxes for many individuals.
There are several ways financial professionals can lift their workshop attendance whether prospects register through traditional direct mailing methods or digital marketing strategies. The same processes can help increase attendance for both prospecting tactics. Financial professionals should be confident enough with their processes to potentially spend a significant amount of time and money on finding and converting prospects into clients.
There are several options financial professionals can use to help their clients prepare a strategy for retirement expenses. Long-term care insurance (LTCI) provides care for those who need long-term assistance in a nursing home, care at home or adult daycare. Some annuity "doubler" income riders can also be used to provide double the annual income for up to five years if the annuitant qualifies.
Tax Cut and Jobs Act (TCJA); short for “An act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.” What a mouthful! I think we will stick with TCJA. One of the major areas of complexity in this new law, is its application to pass through entities.
Each year, we typically see people setting New Year resolutions. Unfortunately, most resolutions don’t hold up for more than a week or two, and we don’t think that’s right, especially if you’re a financial professional.
Tags: business management
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This content is for informational and educational purposes only and is not designed, or intended, to be applicable to any person's individual circumstances. It should not be considered as investment advice, nor does it constitute a recommendation that anyone engage in (or refrain from) a particular course of action.