Know Your Clients: Data-Gathering Techniques for Financial Advisors

Posted by Patrick Sarne

September 19, 2018 at 1:30 PM

In Wealth Management: The New Business Model for Financial Advisors, Russ Alan Prince and Hannah Shaw Grove suggest that the wealth management model is the wave of the future. They also help advisors determine if this holistic life-planning approach is right for them and the best way to adopt the approach. But what really struck me when reading this book was the authors' description of how to gather client information.

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Topics: Financial Planning

Pooled Income Versus Donor-Advised Funds

Posted by Patrick Noonan, CFP

September 5, 2018 at 1:30 PM

Many clients find great satisfaction in donating to a charitable mission that they are passionate about. And it doesn’t hurt that there’s usually an associated income tax benefit to giving as well. As a financial advisor, you’re in a unique position to help your clients create and implement a giving strategy to achieve their philanthropic and tax planning goals.

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Topics: Financial Planning

How to Talk About Philanthropy with Your Clients

Posted by Heather Zack, JD, LLM, CAP

September 4, 2018 at 10:00 AM

Aristotle said, “To give away money is an easy matter and in any man's power. But to decide to whom to give it and how large and when, and for what purpose and how, is neither in every man's power nor an easy matter.”

This sentiment may be especially true for many of your high-net-worth clients who would like to make a positive impact with their wealth. If so, you have the potential to provide some much-needed guidance—especially if they’re willing to incorporate the philanthropic conversation into their financial planning discussions.

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Topics: Financial Planning

A Guide to Teaching Financial Literacy to Your Clients’ Children

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

August 14, 2018 at 10:00 AM

You help your clients navigate today’s complex financial environment on a daily basis. But did you know that you’re in a unique position for teaching financial literacy to your clients’ children? 

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Topics: Financial Planning

Benefit or Backfire: Navigating the Irrevocable Medicaid Trust

Posted by David Haughton, JD

July 10, 2018 at 10:00 AM

Establishing an irrevocable Medicaid trust can help protect assets from liquidation when the need for an extended nursing home stay arises. When this strategy works, a loved one’s admission to a long-term care facility does not result in a substantial spend-down of investments, and wealth can be preserved and transferred to the next generation. But a strategy involving placing assets into an irrevocable arrangement should not be entered into lightly, especially if there are viable alternative protection strategies available.

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Topics: Financial Planning

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