The Benefits of a Tax-smart Asset Location Strategy

5/21/20 10:23 AM / by Jack Sharry posted in Advisors, Householding

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The world has changed but investor goals have not.

Smart advisors report they are reinforcing their value by showing investors how to put portfolios back on track and improve outcomes through tax-smart household portfolio management.

And the first place to start for long term success is asset location – a timely topic after recent markets have turned portfolios upside down.

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The industry guide to smart-householding

5/15/20 5:12 PM / by LifeYield posted in Householding

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Account aggregation is table stakes. Our industry has been working up to an aggregated view of all accounts in a household for years. The trend finally caught on, but we quickly learned that a view is not enough to improve outcomes for clients. This view needs action.

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What is Asset Location?

5/14/20 10:50 AM / by Jack Sharry posted in Advisors, Tax, Financial Planning, Householding, Tax-Efficient Investing, Asset Location

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There has been a lot of conversation across the industry over the past year about the importance of asset location. In the wake of volatile markets and uncertain times, you will be hearing a lot more.

We'll discuss what asset location is and why it matters to investors and your bottom line.

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What about the Wholesaler?

5/5/20 2:16 PM / by Jeff Quigley posted in Advisors, Householding

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At the Future of Advice conference in December of 2019, Steve Gresham coined the phrase “Adoption is the new Innovation.” Steve was referring to how the adoption of technology is lacking across the advisor population. Steve’s message was urging advisors and industry leaders to leverage fintech to battle the many factors significantly slowing organic growth. When embraced, technology can help advisors be more efficient, demonstrate value, identify “next best actions” and improve the client experience. So why is it that more Mutual Fund and Insurance/Annuity carriers aren’t pursuing this opportunity to partner with fintech companies to facilitate increased adoption? 

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How LifeYield Found the Johnson’s an Extra $100,000 in Social Security Benefits

4/22/20 11:36 AM / by Emily Hoffman posted in Social Security

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Social Security is far more complex than many people realize, and this complexity can make the decision regarding when to claim Social Security benefits a daunting one.

There are many options to consider around timing, as well as, how to file for benefits, and how to choose between these options, which can lead to a significant difference in Social Security income over an individual’s or a couple’s lifetime. In addition to the many possibilities, people have their own worries, such as time they took away from the workforce or their spouse’s life expectancy.

Advisors can help their clients overcome these worries and navigate through filing options to determine the ideal age to claim Social Security benefits and maximize their income.

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New Release: One small step for LifeYield, one giant leap for advisors

4/17/20 3:42 PM / by Steve Zuschin posted in Product Updates

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We're proud to announce five new enhancements to the LifeYield platform!

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Filing for Social Security Isn’t Always an Individual Process

4/16/20 10:34 AM / by Emily Hoffman posted in Social Security

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Do you have clients that are married? If you answered yes, you need to help them coordinate their Social Security strategies in order to maximize their combined benefits. Couples who file in a coordinated fashion get more Social Security income than when they file individually.

One element every advisor can add to their offerings is Social Security advice. Setting clients up to maximize their Social Security benefits in combination with the income they’ll receive from their other investments puts them in a more comfortable financial position during retirement.

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Are your clients ready for their Social Security Administration visit?

4/8/20 12:35 PM / by Emily Hoffman posted in Social Security

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If you ask 10 different people about their experience with the Social Security Administration (SSA), you’ll get 10 different answers.

The truth is, there is no one typical experience. Each claimant’s experience depends on the representative they interact with and how well versed that person is on the benefits.

Typically the SSA provides general advice, not advice that would maximize the claimant’s benefit. They do not offer any guidance regarding strategies for maximizing couples’ filings. In fact, retirees don’t exactly know how much they will actually receive until they file—up to that point all of the numbers are estimates.

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Market Volatility Delivers Opportunity to Identify Long-Term Tax Efficiencies

4/3/20 10:33 AM / by Steve Zuschin posted in Advisors, Digital Advice, Financial Planning

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During periods of market volatility, advisors typically recognize that rebalancing and tax-loss harvesting strategies are important for their clients. The ultimate goal is to maintain their clients’ target allocation and realize tax savings at the end of the year.

Both of the previously mentioned strategies provide value to clients in difficult situations. But before advisors begin this process, they should focus on identifying opportunities to set clients up for success in the long term.

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Times of Market Volatility Require Advisors to Shift Their Mindsets

4/2/20 1:17 PM / by Steve Zuschin posted in Advisors, Digital Advice, Financial Planning

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In recent weeks, advisors have faced something they haven’t seen in a decade: a volatile market that ultimately resulted in a significant correction and the end of the long-term bull market. This current volatility is based on uncertainties around the impact of the COVID-19 global pandemic, as well as an oil price war. To pile on, we are all transitioning to remote working environments and adjusting to meetings that aren’t in person. These circumstances would amplify any advisors’ insecurities and fears that their business will suffer.

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