Nerd’s Eye View

Weekend Reading for Financial Planners (June 23-24)

Enjoy the current installment of “weekend reading for financial planners” – this week’s edition kicks off with the official news that the Department of Labor fiduciary rule is really, truly, finally dead, as the 5th Circuit Court of Appeals finally issued its formal court mandate to vacate the rule. Also in the news this week, followingRead More…
Author: Michael Kitces
Posted: June 22, 2018, 6:52 pm

The Problem With Selling ‘Hand-Holding’ As A Financial Advisor Value Proposition

In today’s competitive environment, it is increasingly popular for financial advisors to talk about “behavior management” as a key value proposition for clients, as more and more studies have come out (e.g., Morningstar’s Gamma, Vanguard’s Advisor Alpha, and Envestnet’s Sigma) showing that financial advisors can often more-than-recover the entire cost of their advisor fee just byRead More…
Author: Michael Kitces
Posted: June 21, 2018, 6:52 pm

Financial Advisor (And Other Specified Services) Business Entity Choices To Maximize QBI Deductions

The Tax Cuts and Jobs Act (TCJA) included the most substantial changes to the tax code that we have seen in over 30 years. The change which has garnered the most attention amongst financial advisors, though, is the new 20% deduction for Qualified Business Income (QBI). What’s unique about the QBI deduction (also known asRead More…
Author: Michael Kitces
Posted: June 20, 2018, 3:01 pm

#FASuccess Ep 077: Creating A Partnership Constitution To Formalize Decision-Making For A Multi-Partner Advisory Firm with Tanya Rapacz

Welcome, everyone! Welcome to the 77th episode of the Financial Advisor Success Podcast! My guest on today’s podcast is Tanya Rapacz. Tanya is the co-founder of the Partnership Resource, a consulting firm that works with financial advisors partnerships to ensure that the partnership itself actually works, from formation, to the ongoing operation of the business, to succession planning.Read More…
Author: Michael Kitces
Posted: June 19, 2018, 11:01 am

Summer Reading List of “Best Books” For Financial Advisors – 2018 Edition

As the 2018 school season winds down and summer begins… it’s time for the annual summer slowdown for most advisory firms, as client meetings get harder to schedule because they’re on vacation, and as advisors we ourselves have some time to relax with family… and catch up on good books. As an avid book readerRead More…
Author: Michael Kitces
Posted: June 18, 2018, 11:01 am