7 Ways to Drive Business Plan Objectives Forward

Posted by Kristen Terpstra

February 6, 2018 at 10:00 AM

Last year, you created a business plan. At the end of your planning process, you saved the document to your desktop. Then, you saw January come and go, and tax season passed by, too. Annual client reviews and staff and personal vacations happened, and client service maintenance followed. When you finally came up for air, it was June, and the business plan you crafted with vigor had been sitting untouched for the past six months. Sound familiar?

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Topics: Practice Management

4 Simple Steps for Eliminating Cable Clutter

Posted by Mike Bistis

January 31, 2018 at 1:30 PM

simple steps for eliminating cable clutterAs a kid, I played a lot of console games. As I positioned myself in front of the TV, I had Nintendo on my left, Sega Genesis on my right, and an original PlayStation in front of me. Four power cords, three AV cords, six controller cables, and numerous other wires turned my little play area into a death trap for my poor mother. Mom’s daily battle cry was, “Clean up this mess!”

Turns out, we all should have listened to my mom.

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Topics: Technology

Wants Vs. Needs: When It’s Time to Invest in Your Office Technology

Posted by Mike Bistis

January 30, 2018 at 10:00 AM

As a technology consultant at Commonwealth Financial Network®, I frequently talk about technology with the firm’s affiliated financial advisors. Given the pace at which new products come to market, the questions I receive typically revolve around whether advisors should invest in top-of-the-line hardware and systems and how often they should upgrade. It can be tempting to chase the latest trends, but do you really need and i7 processor when an i5 will do? With that in mind, let’s look at what you really need to run an efficient practice, and how to determine when it’s time to invest in your office technology.

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Topics: Technology

Would Fee-Based Retirement Plan Business Work for You?

Posted by Derenig Kostikian

January 24, 2018 at 1:30 PM

The past few years have brought a shift toward fee-based retirement plan business, fueled in part by the Department of Labor’s Conflict of Interest Rule. As a result, some advisors have decided to accept some fiduciary responsibility and charge a fee to manage qualified plans—with the goal of remaining competitive in the retirement plan space.

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Topics: Retirement Consulting

How to Avoid Common Roth IRA Pitfalls

Posted by Mike Clifford

January 23, 2018 at 10:00 AM

As a financial advisor, you know the Roth IRA provides a number of benefits to clients saving for retirement, including tax-free growth, no required minimum distributions for those age 70½ and older, and the option to continue contributions beyond the age of 70½ (if income is still being earned). But in order for your clients to reap these benefits, it’s essential that you maintain an understanding of the rules of Roth IRA contributions, as there are a number of penalties your clients could face if their accounts are not carefully monitored. Below, I will discuss two common Roth IRA pitfalls, as well as how best to avoid them.

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Topics: Retirement Consulting

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