Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that on the eve of individuals being able to open and fund Section 530A “Trump” Accounts, the IRS has issued a revenue procedure that will significantly reduce the number of individuals who have to file gift tax returns as a result of making contributions to these accounts by establishing safe harbor rules including, among others, that taxpayers donating must be individuals and that such contributions must be made in cash. Which could reduce the administrative burden of making contributions to these accounts for parents, grandparents, and others, though these individuals might consider more broadly whether other savings vehicles for future generations (e.g., taxable custodial accounts or 529 plans) might better meet their objectives.
Also in industry news this week:
- The SEC has advanced a proposal that would make electronic delivery of documents the default for RIAs and asset managers (while allowing clients and investors to opt in to receive paper copies)
- A survey finds that wealthy families are increasingly looking beyond tax efficiency when it comes to estate planning to also create frameworks for the next generation that outline the purpose and meaning of their wealth
From there, we have several articles on retirement planning:
- Updated research on retirees’ spending trajectories finds that they could resemble a ‘smile’ or a ‘smirk’, with implications for initial withdrawal rates
- The history of ‘lost decades’ in the stock market and how financial planners can help clients prepare for them
- How historical visualizations can help clients better grasp abstract retirement income strategies (and how their portfolio and income strategy would have fared in different historical periods)
We also have a number of articles on advisor marketing:
- Key metrics for measuring the success of a marketing strategy, including average new client revenue and the percentage of leads that are qualified
- The pros and cons of keeping marketing in-house versus using an outsourced provider (and how a hybrid approach could offer the best of both worlds)
- How having a marketing “point person” within an advisory firm can ensure that marketing tasks don’t slip through the cracks
We wrap up with three final articles, all about enjoying the holiday weekend:
- The science behind fireworks, from how different colors are produced to innovations in sound effects
- Why controlling heat and moisture are key to successful grilling and how the ‘best’ fuel source can depend on a chef’s priorities
- How to choose and use sunscreen to avoid a nasty sunburn after a day at the beach or pool
Enjoy the ‘light’ reading!
