Enjoy the latest installment of Weekend Reading for Financial Planners. This week’s issue begins with news that recent research data shows that advisors are happier and more productive when they spend more time with their clients and stay within their plans. Create ideal customer profiles in terms of needs, areas of expertise, engagement levels, and more. This suggests that advisor health may be improved not only by automating or outsourcing administrative tasks, but also by tailoring client rosters to ideal client types.
Industry news of the week:
- Recent research shows that the majority of financial advisory clients maintain their trust in their advisors despite the investment market setbacks they experienced last year.
- The majority of RIAs have mandatory arbitration clauses in their customer contracts, a practice that has come under fire from some consumer groups, according to the SEC report.
From there, you’ll find several articles on RIA mergers and acquisitions.
- RIA M&A activity has been strong over the past three years, but many companies have pulled out of deals, often due to discrepancies in valuation expectations between buyers and sellers, study finds Did.
- What RIAs Looking to Acquire Can Do to Make Sure Their First Deal Goes “Right”
- Options for companies considering whether and how to adjust commissions for customers acquired through acquisitions
There are also many articles on tax planning.
- IRMAA levies are annoying but tend to be a relatively small percentage of retirees’ income
- IRS Warns Wealthy Taxpayers About Frauds Related to CRAT and Monetized Installment Sales
- How Advisors Can Help Clients Take Advantage of 0% Long-Term Capital Gains Tax
We conclude with three articles on overcoming mental obstacles.
- A psychological phenomenon that helps explain why individuals tend to think the world is worse today than it was in the past
- Why self-judgment leads to burnout and how to overcome this tendency
- Why it’s easy to fall into a funk when pursuing your goals and how to get out of it
Enjoy your “light” reading!
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