Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that President Biden launched his newest price range proposal this week, which requires a spread of tax will increase on higher-income and wealthier taxpayers to fund deficit discount and the president’s spending priorities. Whereas the price range nearly definitely will face stiff resistance in a divided Congress, proposals that would have an effect on monetary advisors and their shoppers embody growing the highest earnings and capital features tax charges, elevating the Internet Funding Earnings Tax fee and making use of it to pass-through earnings, and growing the quantity of the kid tax credit score.
Additionally in trade information this week:
- Altruist’s self-clearing custodial platform has gone stay, providing RIAs of all sizes a substitute for bigger, legacy custodians
- Whereas the SEC is planning to extend the variety of on-site examinations it conducts, the percentages {that a} agency will expertise an examination in a given 12 months seem like remaining regular
From there, we’ve a number of articles on tax planning:
- How advisors can add worth to shoppers by serving to them maximize the advantages of their Well being Financial savings Accounts
- How the IRS may very well be getting ready to finalize laws that may require some beneficiaries with inherited IRAs to take RMDs this 12 months
- Why greater rates of interest have an effect on the utility of a spread of trusts used for property and tax planning, from GRATs to QPRTs
We even have various articles on observe administration:
- How aggressive pressures and progress challenges might drive RIA M&A exercise within the coming 12 months
- A course of that may assist advisory agency homeowners craft a succession plan that matches their objectives for his or her agency and for their very own retirement
- The most important position that feelings play in an advisor’s choice to promote their agency and the way to stop them from scuttling a deal
We wrap up with three last articles, all concerning the makes use of of Synthetic Intelligence (AI)-enabled instruments for advisors:
- How a brand new device embedded in Microsoft Phrase might help advisors craft and edit content material
- How advisors can use AI-enabled instruments to extra effectively generate content material concepts, proofread textual content, and create advertising and marketing movies
- Why ChatGPT may very well be a priceless device to help advisor advertising and marketing, from creating advert copy to drafting prospect emails
Benefit from the ‘mild’ studying!
