Special Needs Financial Planning

If your clients still have jobs, this article will discuss what you can do to help them prepare for a possible layoff.

What can we, as advisors, do to promote healthy finances?

Let’s explore whether the CFP Board, the most powerful and prominent organization supporting the advisory profession, can do more to support the adoption of a full fiduciary standard. We’ll also ask whether the CFP Board actually owns the trademark for “certified financial planner,” as it claims.

There are several ways to include philanthropic giving in your estate plan. Here are five common options.

Like all trusts, a charitable trust is a legal entity that you create for the purpose of holding and managing assets. The trust is wholly separate from you. It owns any assets it holds, pays taxes and requires management just like any other legally recognized entity.

Behind the five-decade low US unemployment rate of 3.5% lies a 2.6 million-person mystery.

Advisors must redesign their entire approach, starting from the client's point of view.

Build your ladder with multiple target-maturity ETFs representing different segments of the bond market, with different target years.

Even after a year in which the vast majority of the wealthiest Americans lost a chunk of their fortunes — and in some cases, lost big — in at least one way, they’re still coming out ahead.

Here are nine tips that will help your family members stay healthy and financially secure as they age.

Here’s a breakdown of the pros and cons of trading in your traditional bank for a virtual banking experience.

One thing to consider when opening a 529 plan is whether it should be a custodial or individual account. While both allow you to save for college costs and enjoy some tax breaks, they differ in terms of who has control of the account and the assets in it.

Let’s look at the powerful feature set an advisory firm could put together from a collection of the higher-rated, low-market-share programs and solutions that I’ve collected from past surveys, many of which you may not even be aware of.

Here are three ways you can add value in the context of insurance issues.

If you aren’t willing to niche, at least decide whether you are trying to help your clients thrive or survive. Then build a message around one of those themes. Are you selling them life rafts (survive) or sailboats (thrive)?

The succession plans that come off with the fewest disruptions are those that are implemented over an extended period, especially when the successors are not family members.

Here are some suggestions to consider when remarrying.

I’d like to share an example of what happened when one of my clients chose the wrong provider.

There is an adage about three generations of wealth – the first generation makes it; the second generation maintains it and the third generation spends it.

Here are five steps female financial advisors should take when putting a continuity plan in place for their firm.

Let's break down four guaranteed approaches you can implement to improve your client experience and increase your prospect conversions by creating exclusivity, setting client expectations from the beginning, sticking to your process of success, and practicing your interactions.

The search for information and direction about financial assistance and special-needs planning can be especially frustrating for caregivers.

When you choose a client niche, you may find that the focus is too narrow or too broad. Here’s how you can remedy the situation.

Millennials are self-centered and allergic to commitment. They switch jobs every six months and will never buy homes. And don’t get them started on marriage and kids.

I wrote an article last month regarding the 10 things I got wrong about financial planning over my 20-year career. As it happens, I also got some things right and was happy when I was asked to write about them.

One area that needs an investment of time and resources to improve the client experience is the onboarding process, wrought with paperwork.

Let me give you an example of what it truly means to serve a niche.

While growth and succession can be accomplished using a DIY approach, there are benefits (professional and personal) that come with working with a strategic partner to achieve those goals.

I explain how attempts to view advisor compensation through a moral lens instead of an economics lens lead to false conclusions about the relative merits of each pricing model and hence to misguided predictions for the future of planner compensation.

In estate planning, “equal” isn’t necessarily the same as “fair.”

What do you need to know about selecting the best stock photos to support your marketing strategy?

Based on my anecdotal experience, I’ve come to the reluctant conclusion that many advisors are clueless about what it means to be a fiduciary.

Most advisory firms that specialize in wealth management use three technology platforms: financial planning software, portfolio accounting software, and a CRM software. Let's take a closer look at the functionalities and costs of each.

Persuading prospects to engage in financial planning is a struggle. Even when this obstacle is overcome, convincing them to implement the plan can be equally daunting.

What are the most common scenarios that give rise to private foundations converting to DAFs (or making a thoughtful decision not to convert), while preserving the original donor’s intent and satisfying the administrative concerns of surviving family members?

Many of my clients or their kids will face repaying student loans. And given the inflationary environment and related rising interest rates, some of them will need to make careful choices about prioritizing their payback plans.

I have identified a few opportunities within my portfolio and wealth management practice that prompt consideration for your own strategies as you plan for large estates.

I would be very concerned if my financial planner didn’t have their own planner. Research shows that financial planning results in increased emotional and financial wellbeing, even for clients who are planners themselves. Use our Premium membership to add your logo to this article and send it to your clients and prospects.

Even as the US real estate market shows signs of cooling, inflation and higher interest rates are making it difficult for young house hunters to buy properties — at least on their own.

Using this five-question framework will go a long way to help you be effective as you work with foreign-born families in the U.S.

How are advisors coping with the new Department of Labor (DOL) rollover rules? Here are a dozen observations.

Every advisor will agree with the goal of giving their clients peace of mind. But there’s mounting evidence few actually do. Why is that?

Only 5% to 6% of people 50 and older include charitable giving in their wills.

The surging popularity of direct indexing has led to confusion. Some believe it is barely indistinguishable from indexed investing, while others claim it is active management “in drag.”

An outdated website will tarnish your brand and cause you to miss opportunities to grow your reputation, reach, and revenue.

Can I afford to retire? Is it the right time? Here is how I answer those questions from my clients.

Comparing advisors to big-rig truck drivers makes more sense that you think, once you consider the eerie similarities in their business models.

For years, small accounts have been overcharged and underserved. I’m encouraged, however, by what I see some advisors doing, I wish the rest of the profession were inspired to similarly elevate the value provided for the price charged small clients.

In my work with clients, one of the most important services I provide, in addition to coaching on finance, estate planning, and investing, is facilitating cross-generational conversations about what it means to have wealth, and especially about what it means to use wealth wisely.

The number of business locations increased in almost three-quarters of U.S. counties over the two years through September 2021, according to new research from the Economic Innovation Group, a Washington think tank. The fastest growth was in the Southeast of the country and inland western regions.

I discuss cultural and technical challenges and ideas that will lead to a successful client relationship when working with this group of great clients.

While putting together a marketing plan is more complex than reading an article, here are three important pieces of advice to get female solo practitioners started.

This article provides an overview of the benefits of using a Nevada Incomplete Non-Grantor Trust (NING) as part of a business sale to reduce or eliminate state income taxes and capital gains taxes.

For decades, financial experts like myself have implored clients to have a health care power of attorney. Now, some health care experts say you don’t need one because they don’t work.

Here are five winning tactics to leverage immediately for more online introductions.

We describe how an intentional and sustainable vision for diversity and inclusion at Wealthspire took form.

This article outlines the necessary requirements to establish a Nevada family trust company and examines the core features and benefits it offers clients.

Advisors need to understand how crypto markets work and how to make crypto part of a balanced portfolio to take advantage of this opportunity.

Here are some creative features to add to lazy, unappealing job postings so you can poach talent from your competitors.

You have a niche market selected, but now comes the tricky part: determining whether the niche is a viable client base. Here are 11 questions to help you assess whether you picked a good niche.

While I was raised to believe in the importance of helping others and to appreciate the help my own family was given, it was a personal tragedy that was the impetus for much of what I’ve done.