Health Insurance for Younger Clients: A Next-Gen Connection Opportunity

Posted by Anna Hays

April 10, 2019 at 1:30 PM

Being young usually means being healthy—but youth is not a guaranteed defense against medical expenses. Advisors often answer questions about Medicare enrollment, but discussing health insurance for younger clients can seem more daunting—especially when those individuals will lose coverage under a parent’s plan at age 26 and don’t have an employer-sponsored insurance option. Understanding their health insurance market will enhance your ability to develop financial plans for clients who are just starting their careers. Your guidance can also alleviate the concerns of clients whose children are selecting health insurance for the first time and potentially attract that next generation to your practice.

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Topics: Financial Planning

An Estate Planning Checklist for Advisors

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

April 2, 2019 at 10:00 AM

A plan to distribute wealth, just like a plan to accumulate it, must be tailored around your client's unique situation, goals, and needs. As the trusted advisor, you're well positioned to oversee all elements of your client's plan to help ensure the distribution of assets according to his or her wishes—and at the lowest possible cost. That involves a sometimes overwhelming amount of information and documents to keep track of, so what follows is an estate planning checklist to guide your conversations with clients and to help ensure that you've covered all the details in their plans.

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Topics: Financial Planning, Estate Planning

Fighting Elder Financial Abuse—the Crime of the 21st Century

Posted by Heather Murphy

March 19, 2019 at 10:00 AM

Elder financial abuse has been called the crime of the 21st century for good reason. The North American Securities Administrators Association estimates that each year, $37 billion is stolen from seniors by unknown bad actors as well as by family members, friends, and others in a position of trust. And that number could grow—according to the Social Security Administration, as of September 2018, the average life expectancy for a man turning 65 today is 84.3 years, and the life expectancy for a woman the same age is 86.7. As the number of older Americans increases, so does the number of targets for financial exploitation. So, how can we, as financial professionals in a position of trust, help protect our clients?

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Topics: Financial Planning

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

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