States bring in roughly $5 billion in estate and inheritance tax revenue annually, the Center on Budget and Policy Priorities reports. Learn which states have their own estate and inheritance taxes and what their tax rates are. Full Story: ThinkAdvisor
Establishing a niche is an overlooked growth strategy for advisors, according to Patrick Brewer of WealthSource Partners. Focusing marketing efforts on a niche allows advisors to narrow communications, set an intentional marketing budget and scale more effectively. Full Story: ThinkAdvisor
Many older adults will need to pay for long-term care at some point in their lives, but the intimidating nature of the costs involved can lead people to delay the planning process. Use this six-step approach to help your clients weigh their options. Full Story: Morningstar
Clients often say they need a financial advisor to help them achieve their financial goals, but what they really need is someone to make sure they do the things necessary to be successful, writes Brendan Frazier of Wired Planning. Frazier discusses how advisors can be behavioral coaches who make sure…
Financial advisors looking to get and keep clients’ children with their company can take a page from health insurers and offer free services until age 26, writes Samantha Russell of FMG Suite. She recommends tailoring services to the children’s needs, setting parameters on free offerings and being clear about what…
Advisors should remind clients to update their designated beneficiary details on IRAs and trusts after major life events to avoid problems, says tax expert Ed Slott. He outlines a number of inherited IRA scenarios and how distribution rules apply in each one. Full Story: ThinkAdvisor
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