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Earlier than 2022 involves a detailed, advisors ought to kick off discussions with shoppers on a variety of topics, together with retirement, investing, insurance coverage and taxes.
For a lot of of those matters, there are year-end deadlines or contribution cut-offs which can be necessary to notice. Lacking them may lead to penalties, greater tax payments and different monetary repercussions.
To find out which matters advisors ought to floor to shoppers earlier than year-end, SmartAsset spoke with Elliot Herman, companion and chief funding officer at PRW Wealth Administration LLC. If you’re trying to develop your monetary advisory enterprise, take a look at SmartAsset’s SmartAdvisor platform.
Herman is liable for his agency’s funding advisory course of, together with the event of funding technique, asset allocation, and funding supervisor and product due diligence. He additionally oversees the agency’s wealth administration apply, growing plans centered on the areas of wealth switch, retirement, funding, tax, danger administration and property planning.
The webinar, moderated by Susannah Snider, managing editor for monetary training at SmartAsset, was live-streamed on Nov. 17.
Listed here are the ten matters mentioned:
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Retirement account contributions
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Mutual fund distributions
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Roth conversions
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Tax-loss and capital-gain harvesting
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RMD methods
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Gifting methods
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Earnings tax withholding
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Managing earnings tax brackets
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Rising substitute prices
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Contributing to HSA accounts
For extra context and advisor ideas, watch the video.
The panel didn’t provide recommendation, and every circumstance is exclusive. A tax skilled ought to be consulted when executing these methods.
Elliot Herman shouldn’t be an worker of SmartAsset and isn’t a SmartAdvisor shopper. Moreover, he has not been paid for his participation.
Please e-mail [email protected] should you’d like a PDF copy of the slideshow.
Ideas for Rising Your Monetary Advisory Enterprise
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Allow us to be your natural progress companion. If you’re trying to develop your monetary advisory enterprise, take a look at SmartAsset’s SmartAdvisor platform. We match licensed monetary advisors with right-fit shoppers throughout the U.S.
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Broaden your radius. SmartAsset’s current survey reveals that many advisors count on to proceed assembly with shoppers remotely following COVID-19. Contemplate broadening your search and dealing with buyers who’re extra snug with holding digital conferences or spacing out in-person conferences.
Picture credit score: ©iStock.com/juststock
The publish Webinar: 10 Issues Advisors Ought to Focus on With Purchasers Earlier than the 12 months Ends appeared first on SmartAsset Weblog.
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