Industry News
Wealth Management
Top stories summarized by our editors
6/3/2020

There are three keys to becoming a more trusted advisor and better serving clients -- in good times and bad -- writes Stephen Kagawa, CEO of The Pacific Bridge Cos. He recommends moving to a values-based mindset, focusing on what clients want and listening without preconceived ideas.

6/3/2020

The Coronavirus Aid, Relief and Economic Security Act gives people expanded access to their retirement plans in the form of distributions and loans, but financial advisors should discuss the potential ramifications of withdrawing funds. Among them are the loss of tax-deferred growth and potential tax consequences.

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Roger Wohlner
6/2/2020

Financial advisors can use the coronavirus pandemic as an opportunity to work with their clients on financial wellness, writes Steve Gresham of Whealthcare Solutions. He offers eight areas to focus on, including estate planning, health care spending and living transitions.

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Steve Gresham
6/2/2020

The IRS has postponed some deadlines for retirement plans, including defined-benefit plans and 403(b) plans, until July 15. The agency said the action is a response to difficulties brought by the coronavirus pandemic.

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PlanAdviser online
6/2/2020

Advisors must have the right mindset and be willing to evolve their business models if they wish to be successful, writes business strategist and coach Stephanie Bogan. She looks at industry trends that have accelerated because of the pandemic and the importance of mindset in adapting to these changes.

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Stephanie Bogan
6/2/2020

A responsible and effective trustee is key to a trust's longevity and success, writes Lynn Halpern of Bessemer Trust. Among the factors to consider when selecting a trustee are knowledge of investments and assets, the difficult decisions that come with distributing assets and administrative responsibilities, she writes.

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WealthManagement
6/2/2020

The Coronavirus Aid, Relief and Economic Security Act and Setting Every Community Up for Retirement Enhancement Act could cause unexpected tax issues when an IRA owner or beneficiary dies in 2020, writes IRA expert Ed Slott. He runs through four scenarios and how they differ this year compared with previous years.

6/2/2020

From eliminating face-to-face meetings to forcing advisers to adapt to remote work technology, the pandemic has made an immediate and indelible impact on the financial planning profession, said FPA President Martin Seay, Ph.D., CFP®. In a wide-ranging interview with CNBC, Seay discussed the steps FPA has taken to help its 21,000-plus members, how advisory firms have pivoted to a new normal and what changes are likely to remain once the pandemic abates.

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CNBC
6/2/2020

The consistent evolution of reverse mortgages over the years has resulted in products that are easy for financial advisers to navigate and recommend to their clients, said FPA Chair Evelyn Zohlen, CFP® and founder of Inspired Financial. Zohlen discussed reverse mortgages and FPA's new educational partnership with Finance of America Reverse during a new edition of the Reverse Mortgage Daily podcast released this week.

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Inspired Financial
6/1/2020

Citigroup's investment banking co-head Manolo Falco says financial markets are running "way ahead of reality" by pricing in a v-shaped recovery that he believes is unlikely to happen. "As the second quarter comes along and we start seeing the pain, and the collateral effects of that, we think this is going to be much tougher than it looks," he said.