Want to Add More Client Assets? Just Ask!

Posted by Kristine McManus

January 16, 2019 at 1:30 PM

New clients are the lifeblood of a thriving practice. Yet, I find that many advisors focus too intently on their prospecting activities and fail to take advantage of the opportunities for business growth sitting right across from them: their existing clients.

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Topics: Practice Management

Why We Spend Money We Should Be Saving—and How to Resist the Impulse

Posted by Bette Skandalis

January 15, 2019 at 10:00 AM

With the holidays behind us, it’s a good time to explore why we spend money. Heading into year-end, the stock markets were plummeting, wiping out most, if not all, 2018 gains from our equity-based savings accounts. Yet when I walked into my groovy neighborhood gift shop to buy a holiday hostess present, people were lined up for their Curio Spice Aegean Sea salt and Somerville greeting cards for $4.50 a pop. What gives?

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Topics: Behavioral Finance

Becoming Your Clients’ Best Social Security Planning Resource

Posted by Maureen Baxter, CLU, ChFC

January 9, 2019 at 1:30 PM

When it comes to social security, the biggest decision clients need to make is whether to claim at age 62, full retirement age (FRA), or age 70, right? It certainly can be that simple, but there are many next-level nuances to consider. To become your clients’ go-to resource for their social security planning needs, start by mastering the foundational rules—then, you’ll be prepared to address the more complex aspects of their situation, too.

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Topics: Retirement Income Planning

Helping Clients Make the Connection Between Income and Medicare Premiums

Posted by Anna Hays

January 8, 2019 at 10:00 AM

Clients newly enrolled in Medicare may not understand the connection between income and Medicare premiums. The IRS, the Social Security Administration (SSA), and the Centers for Medicare & Medicaid Services all play a part in the income-related monthly adjustment amount (IRMAA) that’s tacked on to Medicare premiums and recalculated every year. The higher an individual’s or couple’s modified adjusted gross income (MAGI), the higher their premiums will be for prescription drugs and doctor visits.

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Topics: Retirement Income Planning

How Good Are TDFs at Managing Retirement Savings Risks?

Posted by John Chevalier

January 2, 2019 at 1:30 PM

Vanguard’s “How America Saves 2018” study reveals that roughly 50 percent of defined contribution plan participants use a target-date fund (TDF) as their sole investment. By 2022, this figure is expected to grow to 70 percent. But should retirement savers be relying solely on these set-it-and-forget-it vehicles? Does that change depending on when they first started saving? And how effective are these funds at managing retirement savings risks, particular as investors approach this next life stage? As a financial advisor guiding investors to a comfortable retirement, it’s important that you can answer these questions. So, let’s take an in-depth look at TDFs.

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Topics: Retirement Consulting

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