Other provisions become effective over the next five years.”īe sure to bookmark this guide if you need help navigating this legislation. In this column, we will focus on the more significant provisions effective for 2023. “SECURE 2.0 is very broad in scope, involving nearly 100 provisions.
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This legislation follows up on the SECURE Act, which was enacted in 2019 to update and improve the retirement provisions of the Tax Code. You may have heard that SECURE 2.0 was enacted on Decemas part of the omnibus spending legislation. Tax Strategy: Retirement change from SECURE 2.0 “Advisors who fail to address their clients’ unspoken fears might lose them to competitors who understand the powerful emotions that economic and market challenges can evoke,” says the report.ģ. One key recommendation from the survey is to proactively acknowledge clients’ fears. “The survey responses also indicated that strong client service and constant communication are the keys to maintaining and expanding an advisor’s client base during tough markets and economies,” explains the report. About Half of High Net Worth Retirees Are Considering Hiring a New Financial AdvisorĪccording to one survey of 800 financial advisors, about half of retirees and pre-retirees earning $200,000 or more per year are considering hiring a new financial advisor within the next 18 months. If you’re looking for more detail regarding the power of storytelling in the financial advisory profession, you can read the article here. And yet, this fundamental observation about human nature is largely missed by the wealth management industry, to the detriment of both client and advisor.” “While numbers confound us, stories define us. It’s important to remember that “people are storytellers, not calculators,” explains writer and reporter James Comtois for VettaFi. Good Financial Planning Is Good StorytellingĪs a financial advisor, you’re often immersed in the analytical world of numbers and knowledge. Given how much is changing - and how much stress Americans are under -how can advisors best focus their attention to have more meaningful interactions with clients? Here are a few interesting articles that our team recommends checking out in the days ahead.ġ. These themes have a ripple effect on society at large - and are getting a lot of attention. Time flies! We’re already halfway through the shortest month of the year.įrom the rapid rise in artificial intelligence (AI) to layoffs in the tech sector, there’s a lot of interesting news that you may be coming across on mainstream media circuits.
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