Top news articles for financial advisors and personal finance
Week of 4/25
Each week, we are giving you Sora’s weekly report highlighting the top insights and relevant articles for financial advisors and personal finance. This week's recap focuses on strategies to minimize tax burden for 2022, avoiding IRA withdrawal penalties, analytics and personal finance tools and racial equity investing.
Analytics Transformation in Wealth Management (Anutosh Banerjee, Vishal Kaushik, Aditya Saxena, Fumiaki Katsuki, Sanchit Suneja, and Renny Thomas, McKinsey)
As modern clients demand more convenient, cutting-edge services, wealth managers must keep up with the new offerings and technologies. Advanced analytics can enable wealth managers to offer pricing flexibility and help create personalized plans for their clients, but can be challenging to implement if not done correctly. Read more to find out how advanced analytics can help you help your clients.
Tax Planning in the Wake of Build Back Better (Sophia Duffy, American College of Financial Services)
Having wrapped up the 2021 tax season, it’s never too early to help your clients begin planning for the 2022 tax season. Read more to learn about the different approaches you can use to help your clients reduce their tax bill for 2022.
This Overlook Strategy Helps Early Retirees Avoid IRA Withdrawal Penalties (Terence Walsh, ThinkAdvisor)
With more and more individuals retiring at a young age, financial advisors have been needing to help their clients achieve their dreams of early retirement. While not right for every client, some clients may benefit from taking advantage of the SEPP exception. Read more to find out how you can help your clients access their IRA funds early without being penalized.
Advisors Must Balance Personal Service With Tech Tools, Consultant Says (Karen DeMasters, FinancialAdvsior)
As appetite for wealth advice grows, financial advisors will need to keep up with seemingly contradictory demands from clients. Clients will demand options that allow for self-direction through digital tools, while also expecting personalization. Investors are risk-adverse, yet excited by alternative investments. Read more to learn about what trends are likely to occur in the financial industry and how your firm can address your clients seemingly contradictory needs.
How to Invest in Racial Equity: An Advisor’s Guide (Tobias Salinger, Financial Planning)
With many wealth advisors becoming increasingly concerned with racial equity, several organizations have begun offering resources to help wealth managers use finance to advance social equity. The article highlights available products and additional ways to get involved. Read more to learn about how to make an impact through racial equity investing.
