Page 22 - Michael Kitces News Today

A version of this article originally published in April 2017. Each year in advance of our annual Portfolio Makeover series, I receive scores of emails from individuals who would like to be featured. I hear from folks with eight-figure (yes, eight) portfolios and people getting by on a shoestring, individuals with full pensions as well as job-hoppers whose investments are a web of 401(k)s and IRAs in multiple silos. If theres a unifying theme among many of the submissions, its that so many of ...

Investment news and analysis for financial advisers. Extensive coverage and expert comment on important topics in the financial advisory industry.

CFP Board Reviews Sanction Guidelines The 15-member Commission on Sanctions and Fitness will also look to revise the standards for those who are hoping for CFP certification. A new Certified Financial Planner Board of Standards commission will reexamine the guidelines the board uses to accept applicants for the CFP designation as well as how CFP professionals should be sanctioned when failing to comply with its code of conduct. The 15-member Commission on Sanctions and Fitness incl...

FPA, NAPFA Evolve Alongside Pandemic, Online Competition With the rise of remote meetings, social media and online communities, do professionally managed industry associations like FPA and NAPFA have a future? The numbers are mixed. Advisors grappling with the coronavirus pandemic have changed how they relate not just to their clients but to each other as well. Advisors in independent practices, much like doctors and lawyers, have always worked in some degree of professional isolation, ...

Michael: I’m doing well. How are you? Carl: Fantastic. Yeah. Things are super good. Michael: Excellent. Well, I wanted to follow up on our last episode where you had kind of thrown this comment out there that I feel like we have to come back to. You had said, as we were kind of ranting on the problems of having overly broad, overly general websites that aren’t specific enough to anybody, to motivate to action, you had made this comment of, “We ask our websites to do too much.” Carl: Yea...

"When you ask someone what their goals are for retirement in 10, 20 or 30 years, the truth is most people don’t even know what’s possible in the first place," Michael Kitces says.

Ad valorem fees are here to stay and talk of their demise is “overblown” a US adviser says. Financial planner Michael Kitces gave a presentation at NextWealth's conference on adviser technology today. 

Canada-based financial planning developer Planswell added Jennifer Mastrud and Scott Gill to its executive team. Financial planning software developer Planswell has drawn two former XY Planning Network staffers to its c-suite. Former XYPN Director of Marketing Jennifer Mastrud joined Planswell as Chief Marketing Officer, and former XYPN Director of Compliance Scott Gill is Planswell’s new Chief Compliance Officer, according to the firm. Both executives began working with Planswell in Ja...

The average financial plan takes an advisor more than 15 hours to produce. Rich Napolitano | Dec 23, 2020 A study from Michael Kitces found that while financial advisors work for an average of 43 hours per week, only 36% of that time is spent building client relationships or engaging in business development and meeting with prospective clients or centers of influence. Instead, advisors must spend the bulk of their time on non-client-facing work such as building financial plans and reports...