Beyond the Basics: Strategies for Multigenerational Planning

Posted by Whitney Drechsler, JD

April 24, 2018 at 10:00 AM

In the next 30 years, approximately $40 trillion will pass from the baby boomers to future generations. Given this sizable transfer of wealth, successful advisors must be equipped to counsel not only their existing clients, but also their clients’ children, grandchildren, and even parents. With this in mind, let’s take a closer look at strategies for multigenerational planning, plus how to go beyond the basics in meeting the financial goals of individuals across generations.

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Topics: Financial Planning

Grow Your Practice Through Charitable Planning

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

January 10, 2018 at 1:30 PM

Many high-net-worth clients give to charity annually, and they need you to help them identify the most efficient way to support the causes that are important to them. By brushing up on your knowledge of the charitable deduction and various giving strategies, you can both help your clients meet their philanthropic and legacy goals and grow your practice through charitable planning.

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Topics: Financial Planning

Are There Hidden Financial Risks in Your Clients’ NQDC Plans?

Posted by Maureen Baxter, CLU, ChFC

November 15, 2017 at 1:30 PM

Nonqualified deferred compensation (NQDC) plans can be an effective tool for employers to recruit, reward, and retain select executives. But if they aren’t set up properly, there could be hidden financial risks in your clients’ NQDC plans that could be detrimental to both the firm and the covered employees.

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Topics: Financial Planning

Divorce Planning: How You Can Help Clients Protect Their Finances

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

April 5, 2017 at 1:30 PM

As a financial planner, you're not expected to handle all of the difficulties that arise when your client is going through a divorce. But what you can do? Protect his or her financial security for the future.

Whether you're hoping to specialize in divorce planning or just working with divorcing clients as the need arises, it's important to take a multifaceted approach. From establishing a spending plan to protecting jointly held assets, here are some key areas on which to focus.

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Topics: Financial Planning

Is a Divorce Financial Planning Specialty for You? Answers to 5 Key Questions

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

April 4, 2017 at 10:00 AM

As part of Commonwealth's Advanced Planning team, I can tell you that divorce financial planning is becoming a hot topic among our advisors. Like them, you may be wondering if this could be a potential route for your business. To shed some light on this niche opportunity, read on for five common questions (and answers) that we get from advisors considering this specialty.

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Topics: Financial Planning

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