How one advisor leveled-up his practice with simple scoring systems

6/30/20 5:13 PM / by Matt Nollman posted in Advisors, Tax, Financial Planning, Householding, Tax-Efficient Investing, Asset Location

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"Now I understand what you've been saying all these years."

This is music to anyone's ears. But it's pure gold in the financial advice world.

Advisors have been trying to simplify complicated topics like risk and tax for decades. Today, we have a real success story.

Enter: Rick Mida, Partner and Wealth Advisor at Canopy Wealth Management.

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The Building Blocks of Tax-Smart Asset Location

6/3/20 2:56 PM / by Jack Sharry posted in Advisors, Tax, Financial Planning, Householding, Tax-Efficient Investing, Asset Location

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Investors are painfully aware their retirement plan needs a do-over.  With so much uncertainty, it's like the investment gods shook every investor's portfolio like a canister of Legos and dumped them on the floor.  Top advisors are helping investors rebuild portfolios, get on the right track, and realize their retirement dreams.

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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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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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The market is volatile: What else can advisors talk about?

3/26/20 4:11 PM / by Steve Zuschin posted in Advisors, Digital Advice, Financial Planning

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Facing unprecedented situations in the markets raises stress levels for both advisors and clients. Fortunately, it’s still possible for advisors to have positive, productive conversations with their clients when the news is negative or uncertain.

Essential to this process for advisors is first examining how they do business. Face-to-face meetings shouldn’t be a requirement for a regular review meeting. Flexibility in how advisors deliver information to their clients is important.

For those who weren’t yet offering their clients ways to connect virtually, the spread of COVID-19 has forced our hands to explore options through channels like Zoom, Join.me or Go-To-Meeting. We can go kicking and screaming, or we can embrace this change and look for the opportunity. Now is a great time to add these options so that clients can still get the information they need in a comfortable setting.

We’ve spoken with many advisors over the past few weeks. It’s an uncertain time for everyone. But throughout these conversations, it’s become apparent that advisors need something positive to talk about with clients. After the longest bull market in history burst into oblivion, we can no longer count on positive performance to delight our customers. We have to dig deeper.

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Account Aggregation vs. Smart-Householding: Going beyond a view to action

1/7/20 8:30 AM / by Jack Sharry posted in Advisors, Financial Planning, Householding

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Improved financial outcomes are what investors want and need when it comes to their household portfolio. However, some think simply aggregating the multiple accounts found in most households will help clients improve the chances of achieving their objectives.

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How to talk to clients about tax-smart investing

12/23/19 9:30 AM / by Steve Zuschin posted in Financial Planning, Householding, Tax-Efficient Investing

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No investor can escape taxes. Most investors try to forget about taxes until it’s time to file their returns, but by that time, it is often too late to implement any strategy to reduce the amount owed. That’s where advisors can help.

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What is householding?

12/10/19 12:35 PM / by Jack Sharry posted in Advisors, Financial Planning, Householding

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Have you been hearing the latest buzz about "household-level portfolio management"? You may be wondering – What is it? How do you do it? And, why does it matter?

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A disruptive look at the confluence of digital and human advice

9/27/19 10:05 AM / by Jack Sharry posted in Advisors, Digital Advice, Financial Planning

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Earlier this year, industry leader Steve Gresham and I engaged with InvestmentNews to host roundtable conversations with the architects, builders and champions of tech-enabled platforms that are powering the future of financial advice.

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