Estate Planning with Intentionally Defective Grantor Trusts

Posted by Whitney Drechsler, JD

January 18, 2017 at 1:30 PM

Estate planning with intentionally defective grantor trusts (IDGTs)—despite the name—has many advantages. In fact, this well-established technique isn’t defective at all; the term “defective” describes the effect of income taxation rules on these instruments. Here, we’ll discuss the ins and outs of IDGTs, including how they can be very tax “effective” for estate tax purposes.

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Topics: Estate Planning

5 Steps for Successful Family Wealth Planning

Posted by Rose Watson, JD, MSEL

January 17, 2017 at 10:00 AM

Family wealth planning isn’t just about helping one generation build as much wealth as possible to pass on to the next generation. An effective process also helps prepare heirs to manage and preserve those assets into the future. But how can you help your clients address all of these matters in an intelligent way? Our five steps for successful family wealth planning can help.

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Topics: Estate Planning

How to Attract Millennial Clients: Advice from a Millennial Advisor

Posted by Mike Giurleo

January 11, 2017 at 1:30 PM

Millennials are generally defined as those individuals born between 1980 and 2000. They grew up in a dynamic and rapidly changing environment that had profound effects on their personalities and economic and social views. Tech-savvy, well-educated, and eclectic, this group is in the process of positioning itself at the epicenter of the financial world. Along with their earnings potential, which will start to peak in the coming years, millennials are poised to inherit their baby-boomer parents’ assets.

Given all of this, many advisors have started to think about how to attract millennial clients to their business. Here, we’ll cover why this generation presents a valuable opportunity for you, plus share advice from one of Commonwealth’s own millennial advisors.

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Topics: Marketing

Finding the Right Acquisition Partner for Your Financial Services Firm

Posted by John Fencil

January 10, 2017 at 10:00 AM

As you’re well aware, one constant in financial services is change. Between an aging advisor population and new Department of Labor regulations, the opportunity in the coming months and years to add “bolt-on” acquisitions to well-positioned practices—at the right price—is worth assessment. In fact, industry sources have claimed that in the next 5 to 10 years, there could be as much as a 50-percent turnover rate in financial advisory practices.

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Topics: Practice Management

Finding Common Ground Between Baby-Boomer and Millennial Advisors

Posted by Maria Considine King

January 4, 2017 at 1:30 PM

The dynamic in play between owners of financial advisory practices and their likely successors is interesting. So many things point to there being plenty of common ground between baby-boomer and millennial advisors. For example: 

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Topics: Practice Management

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