6 Bankruptcy Basics Financial Advisors Should Know [SlideShare]

Posted by Justin C. Duft, JD, CFP, CLU, ChFC, CLTC

January 15, 2020 at 1:30 PM

People consider filing for bankruptcy for a number of reasons. But whatever the reason, this option is often seen as a last resort—a solution to be considered only after all other potential remedies have been exhausted. Unfortunately, the stigma associated with bankruptcy may make those drowning in debt hesitant to seek relief. Some have ethical objections, and others may view bankruptcy as an admission of personal defeat. As a result, a petition for bankruptcy relief is often made far later than objectively advisable.

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Topics: Behavioral Finance

What Your Clients Need to Know About Debt Management

Posted by David Haughton, JD

January 14, 2020 at 10:00 AM

Helping your clients use debt wisely goes hand in hand with budget planning. While many think the term debt carries a negative connotation, not all forms of debt should be viewed with disfavor. For some, debt is a necessary piece of their financial picture, and it can be used to help obtain an education, purchase a home, or establish a business.

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Topics: Financial Planning

NQDC Plans: Are the Advantages Worth the Risks?

Posted by Krista Teegarden

January 8, 2020 at 1:30 PM

Do you have highly compensated employees looking to reduce their taxable income or set aside additional money for retirement? With a nonqualified deferred compensation (NQDC) plan, you can help these clients accomplish both goals. Keep in mind, however, that there is some measure of risk to consider—unlike with other types of retirement plans, the money they’ve saved is dependent on the financial solvency of the employer. 

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Topics: Retirement Income Planning

Rx for Risk: Protecting Client Portfolios

Posted by Brian McCormick, CIMA

January 7, 2020 at 10:30 AM

Many investors and economists are anticipating a recession ahead, although predictions vary widely as to its timing and severity. It stands to reason, however, that the upcoming election and ongoing economic uncertainty will lead to prolonged stock market volatility, if not a bear market. In times like these, we’re all thinking about methods for protecting client portfolios in an economic downturn. Here, to help you think ahead, my colleague Tom Scarlata and I review current asset allocation strategies to consider.

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Topics: Asset Management & Investing

Better Your Brand: A New Year’s Resolution

Posted by Kristine McManus

January 1, 2020 at 9:04 AM

It’s the new year, the perfect time to better your brand. Can we take a few guesses about your practice? You offer comprehensive financial planning and/or wealth management that puts your clients’ goals and needs first. You have a dedicated process that begins with learning about your clients before developing a custom plan, investing wisely, and monitoring the plan for success. You might have a holistic approach—but in any event, your firm is independent, and you offer outstanding client service. Great! The only problem? That’s what the other 310,000 financial advisors out there say.

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Topics: Marketing

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