Archives for Blog Posts

Why Financial Advisors Are Often “The Shoemaker’s Kids” and What You Can Do About It

“Financial advisors spend their days helping clients plan for the ‘what ifs,’ but they seem to have little time left over to do the same for themselves.” A recent article in Financial Advisor Magazine recently pointed out that according to the Financial Planning Association, 73% of financial advisory firm owners do not have a succession plan in place. Even more concerning, 60% of firm owners who are only five years away from retirement don’t have a plan either! The article points out that you have options. One option is to bring on younger, strong people to take over when you
Read More

Categories: Blog Posts.

Does Your Unique Value Proposition Sound Like Everyone Else’s?

Words matter. And so does communicating your value on the web and social media, a recent study says. You already know that prospective clients can seem picky about whom they’ll work with. And for good reason. They want the best for themselves and their families, and want to be sure you’re working for their best interests. As a study published this past October from BNY Mellon’s Pershing says, “They want to know exactly how you will improve their lives, and why they should pick you over your competitors.” That means it’s vital for prospects to recognize your true value. Setting
Read More

Categories: Blog Posts.

The Content Conundrum

Surely you have heard marketers use the phrase “content is king” many times over the years. But is that really true? The answer is – sometimes. To understand content marketing, we need to understand the difference between “brand awareness” and “lead generation.”   What is Content Marketing? Content marketing is the creation and sharing of online material including videos, blogs, and social media posts, not intended to promote your brand (brand awareness) but rather to attract interest in your products or services (lead generation) with the ultimate goal of driving profitable customer action.   The Why Content marketing is a
Read More

Categories: Blog Posts.

Get Ahead of the Great Wealth Transfer

In September, Wealth Management spelled out an eye-opening statistic about wealth transfer in the United States: “An estimated $59 trillion will pass from an aging generation to younger generations by 2061, including $21 trillion destined for charities.” In fact, from 2030 through 2045, the peak of the transfer, 10% of the total wealth will change hands every five years.1 It’s important for the financial advisor to try to retain assets and become the trusted resource for their clients’ adult children and grandchildren. But the struggle is real, as “in a majority of wealth transfer cases, assets leave the client’s financial
Read More

Categories: Blog Posts.

What You Should Know About the Changes Coming to Social Security in 2019

As happens in the second week of each October, on October 11th the Social Security Administration (SSA) announced next year’s program changes which will go into effect on January 1, 2019 for the roughly 67 million Social Security beneficiaries in the United States1, an estimated 48 million of which are older adults collecting retirement benefits.2 Here are some of the changes you should know about. There will be a COLA (cost of living adjustment) of 2.8% for 2019. Meant to counteract the effects of inflation and the erosion of buying power, the 2.8% is larger than the 2.0% increase in
Read More

Categories: Blog Posts.

New Inflation Measure May Erode Tax Cut’s Benefits Over Time

Advisors Have an Opportunity to Help Clients Navigate Regulatory and Tax Reforms  A change in what measure the Internal Revenue Service (IRS) uses to apply adjustments to deductions and income tax brackets is expected to lead to higher tax payments over time – just as Americans may have been settling in to the benefits of last December’s Tax Cuts and Jobs Act. The December legislation resulted in lower individual income tax rates, doubled standard deductions and eliminated personal exemptions. But according to tables released November 15 by the IRS, the amount taxpayers will be able to deduct will move higher
Read More

Categories: Blog Posts.

5 Things to Know About Long-Term Care (LTC)

November is long-term care awareness month. Here are five things you should know about LTC.   Statistics vary on how many people will need LTC. With 10,000 people turning 65 every single day in America until around year 20301, there are varying statistics regarding the need for long-term care floating around out there—some as high as 75%.2 In late August, Morningstar put together their 2018 updated statistics, placing the percentage of people 65 or older who will need long-term care at 52%, the majority female.3   There are different types of facilities providing different levels of care.4 If you hear
Read More

Categories: Blog Posts.

7 Things Financial Advisors Should Know About Estate Planning

Estate Taxes1 As everyone knows, the Tax Cuts and Jobs Act tax overhaul, which was passed in December of 2017, doubled the estate tax exclusion to $11,180,000 per person. (The IRS hasn’t yet released the official inflation adjustments for 2019, but the basic exclusion amount is expected be around $11.4 million per person next year.) Although the exclusion limits are extremely high, they won’t last forever—the legislation sunsets after the 2025 tax year. Estate planning is arguably more important than ever in order to take advantage of the new laws before they expire. There have been many clarifications about the
Read More

Categories: Blog Posts.

Reach Out To Clients During This Medicare Open Enrollment Period

Upcoming changes to drug costs, plan options, premiums present advisor opportunities   During this year’s Medicare Open Enrollment Period, your clients might want your help. That’s because each year Medicare health and drug plans change their products, including costs, what’s covered, and what pharmacies and providers are in their network. Even if you don’t directly offer health insurance or Medicare plans, as an advisor doing retirement planning you should have a working knowledge about the basics, because most Medicare premiums are deducted out of a retiree’s Social Security check. Medicare Open Enrollment During open enrollment from October 15 through December 7,
Read More

Categories: Blog Posts.

Indexed Universal Life (IUL) Insurance – A Primer

  Here’s what you need to know about IUL, Indexed Universal Life insurance.   Strong IUL sales in 2018 “After three consecutive quarters of declines, individual life insurance sales growth rebounded in the second quarter of 2018,” said Ashley Durham, associate research director, LIMRA Insurance Research. “Indexed universal life drove the comeback with a 15 percent increase over second quarter of 2017.”1 IULs are not for everyone People who are not in good health may not qualify for IUL; underwriting is required. Look for uncapped policies At Shurwest, we provide due-diligence support for our advisor partners, including considering uncapped policies
Read More

Categories: Blog Posts.