Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that President Biden launched his newest finances proposal this week, which requires a spread of tax will increase on higher-income and wealthier taxpayers to fund deficit discount and the president’s spending priorities. Whereas the finances nearly definitely will face stiff resistance in a divided Congress, proposals that might have an effect on monetary advisors and their purchasers embody rising the highest earnings and capital positive aspects tax charges, elevating the Internet Funding Revenue Tax fee and making use of it to pass-through earnings, and rising the quantity of the kid tax credit score.
Additionally in trade information this week:
- Altruist’s self-clearing custodial platform has gone stay, providing RIAs of all sizes an alternative choice to bigger, legacy custodians
- Whereas the SEC is planning to extend the variety of on-site examinations it conducts, the percentages {that a} agency will expertise an examination in a given 12 months seem like remaining regular
From there, we have now a number of articles on tax planning:
- How advisors can add worth to purchasers by serving to them maximize the advantages of their Well being Financial savings Accounts
- How the IRS may very well be making ready to finalize laws that will require some beneficiaries with inherited IRAs to take RMDs this 12 months
- Why larger rates of interest have an effect on the utility of a spread of trusts used for property and tax planning, from GRATs to QPRTs
We even have quite a few articles on apply administration:
- How aggressive pressures and development challenges might drive RIA M&A exercise within the coming 12 months
- A course of that may assist advisory agency house owners craft a succession plan that matches their targets for his or her agency and for their very own retirement
- The foremost position that feelings play in an advisor’s choice to promote their agency and tips on how to forestall them from scuttling a deal
We wrap up with three ultimate articles, all in regards to the makes use of of Synthetic Intelligence (AI)-enabled instruments for advisors:
- How a brand new software embedded in Microsoft Phrase may also help advisors craft and edit content material
- How advisors can use AI-enabled instruments to extra effectively generate content material concepts, proofread textual content, and create advertising movies
- Why ChatGPT may very well be a invaluable software to assist advisor advertising, from creating advert copy to drafting prospect emails
Benefit from the ‘gentle’ studying!
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