Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that a number of states are contemplating a sequence of tax hikes focusing on higher-income and ultra-high-net-worth residents after related proposals did not go on the Federal degree. Whereas it stays to be seen whether or not the measures will truly be enacted, proposed measures embrace elevating revenue and capital good points tax charges, instituting wealth taxes, and lowering the state property tax exemption, doubtlessly creating future planning alternatives for advisors with shoppers in these states.
Additionally in trade information this week:
- Whereas the variety of RIA M&A offers elevated in 2022, the dimensions of those offers declined, maybe reflecting difficult market and financial headwinds
- A current survey suggests that just about half of monetary advisory shoppers have modified advisors or have thought-about doing so for the reason that begin of the pandemic and that portfolio efficiency has develop into a main consideration of their decision-making course of
From there, we now have a number of articles on apply administration:
- Why advisory corporations would possibly first contemplate whether or not they’re utilizing their present tech stack optimally earlier than seeking to new software program options
- How advisory corporations can higher arrange and monitor their knowledge to keep away from drowning in a sea of numbers
- Why agency tradition and alternatives for profession development may very well be extra vital than beginning wage for a lot of monetary planning job candidates
We even have numerous articles on money circulation and spending:
- A overview of a number of key psychological elements that drive shoppers’ spending selections
- How shoppers are doubtlessly shedding cash by preserving important money in financial savings accounts at main banks, and the chance for advisors to create money administration methods for shoppers
- How advisors can help shoppers whose youngsters undergo from ‘failure to launch syndrome’
We wrap up with three remaining articles, all in regards to the monetary recommendation trade:
- Why the competitors for expertise, a pullback in personal fairness funding, and corporations balancing effectivity with effectiveness may very well be key tendencies throughout the monetary recommendation trade within the coming 12 months
- How shoppers may gain advantage from fee-only recommendation throughout the insurance coverage trade
- The advantages of taking up management positions inside monetary planning trade associations
Benefit from the ‘gentle’ studying!