At PNC Retirement Solutions, we also engage with financial advisors to help serve
their retirement plan clients.
Not exact matches
It applies only to
retirement accounts such as 401 (k)
plans and individual
retirement accounts, but advisors to those accounts will now have to act in their
clients» best interests.
Prior to launching YGC, Dorsainvil advised
clients across generations in the areas of
retirement planning, estate
planning, education
planning and strategic tax
planning.
The Labor Department rule was supposed to reduce these fees and force
retirement plan providers to act in their
clients» best interests.
Financial planner David Christianson says underestimating how long they'll have to support their kids is the No. 1 mistake his
clients make in their
retirement plans.
Mallouk, president and CIO of Creative
Planning, and Carson, CEO and founder of the Carson Group, both said they would tell Trump not to roll back regulations on the Department of Labor's fiduciary rule, which says if an advisor is working with a
client on a
retirement plan, they need to act in the
client's best interest.
He provides personalized, full - service financial and
retirement planning to individual and corporate
clients.
The Department of Labor passed a new rule earlier this year requiring that financial advisors who work with
clients on
retirement plans abide by a fiduciary standard.
He argues that everyone uses money for different purposes — from facilitating adventure to serving their community to supporting their family — yet most financial
planning assumes
clients have one of two possible goals: preparing for
retirement or accumulating more possessions.
Firms also had to have a focus on financial and
retirement planning; institutional
clients do not make up a substantial portion of their businesses.
In the example of
retirement planning, a CFP ® professional can be tasked with measuring the
client's progress saving for
retirement.
This week, the DOL delayed the effective date of its Fiduciary Rule — which would define all
retirement plan financial advisors as ERISA fiduciaries, effectively banning conflicted 401 (k) investment advice that puts advisor profit ahead of
client interests — by 60 days from April 10, 2017 to June 9, 2017.
Financial
planning software, or even simple Excel spreadsheets, can be used to determine if the
client has enough money saved for
retirement, or if the
client has enough life insurance coverage, if the
client's portfolio is well diversified and appropriately allocated given their risk tolerance and timeline to
retirement.
To land on the list, firms had to have a focus on financial and
retirement planning for individual and high - net - worth
clients.
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client case studies, best practice
retirement plan design and financial wellness.
Attorney Jason Roberts, CEO of the Pension Resource Institute, a compliance consulting firm, says his large broker - dealer
clients tend to manage
retirement plans by teaming advisors who are not specialists in
retirement plans with those who are.
When it comes to
retirement planning, the key question is how much the
client can safely spend out of his or her portfolio during the golden years.
A
retirement plan that shorts health care
planning can leave a
client high and dry, they say.
«Robo - advisors can help
clients with the on - boarding process of joining a
retirement plan, manage their investments and rebalance their portfolios,» he said.
Today, through a range of services that include life insurance, annuities, and
retirement plans, Transamerica and its parent company operate in more than 20 markets worldwide, continuing to help
clients secure their financial futures.
Follow Kevin on LinkedIn for insights on workplace trends,
client case studies, best practice
retirement plan design, and financial wellness.
Most
clients view a
retirement plan distribution as an event that is likely to result in an undesirable tax hit — especially when that distribution is a required minimum distribution (RMD), which must be taken regardless of whether the
client actually needs the income.
The NUA tax strategy allows certain
clients whose qualified
retirement plans contain these appreciated employer securities to eventually pay taxes on the appreciated value of those securities at the lower long - term capital gains tax rate, rather than at the ordinary income tax rate that would otherwise apply to
retirement plan distributions.
However, in order to be eligible, the
client must be eligible to take a lump sum distribution from the qualified
retirement plan in question (typically meaning that he or she has reached age 59 1/2, become disabled or retired, or died).
Our
clients are individuals (direct
clients as well as managed money through financial advisors), institutions,
retirement plans, and government entities.
In the meantime, Sweeney is advising her
clients, who are
retirement plan fiduciaries and financial service providers, to hold tight until there is more direction from the DOL.
Our
clients range from high net worth households to corporations to
retirement plans to charitable foundations.
Disclaimer: As an Investment Advisor Representative, I act as a fiduciary and give
retirement planning and investment advice to my
clients in exchange for a fee.
We regularly advise
clients on issues such as the design and implementation of qualified
retirement programs and employee benefit
plans, including medical, vacation, severance, health reimbursement arrangements, health savings accounts, self - funded corporate
plans and related programs.
To evaluate our
client's likelihood of success when it comes to meeting their
retirement spending goals, we turn to our financial
planning software, specifically the Monte Carlo simulation.
«Vestwell's mission to make
retirement plans affordable and accessible for all investors is reflective of our own hope: to empower fearless investing by providing investors with their true risk tolerance, and helping advisors align portfolios in the best interests of their
clients,» said Aaron Klein, CEO of Riskalyze.
To help advisors and their
clients make the most of these assets, we identified seven frequent and costly mistakes that they can make when performing estate
planning for
retirement assets and how to avoid them, including:
Advisors are very familiar with
clients who ignore their
retirement plan in favor of socking away money in a college fund.
Plan ahead... way, way ahead: This tip is really more applicable to younger
retirement savers, but the fact is, the sooner a
client starts
planning for early
retirement, the better the chances of achieving that early
retirement.
How does an advisor
plan for the
client who wants to work in
retirement?
Tax deferral laws make annuities a great option for
clients planning for
retirement.
Financial advisors also report seeing
clients» confidence soar through the
retirement planning process.
When
planning for the future, it's worth considering the following possible public policy risks that could affect your
clients» ability to save for
retirement and the money they have available to spend in
retirement: Will income tax rates rise with current government deficit spending?
«
Clients need to have begun to process how much longer they want to work and what their spending will likely look like in
retirement,» says Spencer Hall, managing partner of Knoxville, Tennessee - based
Retirement Planning Services, LLC.
With growing numbers of
clients with substantial portions of their assets in qualified
retirement plans, it is more important than ever to understand how these unique accounts can affect their estate
plans.
Personal Capital creates a specialized
plan incorporating a
client's assets and liabilities as well as
retirement goals.
Plan sponsor clients can manage their retirement plan through the Retirement Directions web por
Plan sponsor
clients can manage their
retirement plan through the Retirement Directions web por
plan through the
Retirement Directions web portal.
Find out how MEMBERS products and the value of risk control can work into your sales strategy and help you
plan successful
retirements for your
clients.
Cheryl believed she had devised an outstanding product, and is pleased to say that in just a few short months since her launch, the program is already helping countless advisors across the U.S. build more fortified
retirement income
plans for their
clients.
These drops in the number of advisors, the average number per firm and the advisors remaining who actually help
clients plan for
retirement, ultimately leaves consumers with less access to advice.
In 2013, the Corporation for Social Security Claiming Strategies was formed and one year later, A Comprehensive Guide to Social Security
Retirement Benefits and Social Security Claiming Strategies was launched endeavoring to provide advisors with the knowledge necessary to advise
clients on the intricacies of the Social Security system and teach them to utilize that information as the foundation for
retirement income
plans sustainable throughout their
client's lifetime and beyond.
Many also offer ancillary services, such as investment education, assistance with annual tax return preparation, Social Security and
retirement income
planning, as well as one - off custom requests from
clients — all of which could cost thousands of dollars if purchased à la carte.
After all, more than half the advisors had noticed their older
clients» concern about outliving savings, and more than half had predicted that
retirement distribution
planning will be their older
clients» main goal in five years.
Specifically, only 35 percent of the advisors said they «most frequently recommend» variable annuities to their 50 - and 60 - year - old
clients as part of their
retirement plans.
That dovetails with another finding — that well over half (65 percent) of advisors believe «
retirement income distribution
planning» will be the biggest goal for 50 - and 60 - year - old
clients in the next five years.