In honor of Financial Literacy Month, Covisum President, Joe Elsasser,CFP®, has created a reading list for anybody with an interest in the financial tech industry. As you know, this is evolving. Financial advisors, finance students, and those working in fintech can benefit from this reading list.
After the Tax Cuts and Jobs Act passed and Covisum updated Tax Clarity to reflect the changes, we've seen a huge influx of interest in the software. We've updated all of our advisor-facing marketing materials that come with a paid subscription, including our white paper, "The Elephant and the Snowball: How Advisors Can, and Should, Talk Taxes with Clients." Recently, Mary Beth Franklin with Investment News covered the content in the article, "New tax law offers opportunities for advisers and
Covisum’s new white paper explains the dangers of relying on traditional models of explaining and estimating portfolio risk, and how risk analytics have evolved, giving you amazing new opportunities to help clients more.
You've seen it happen: losses accumulate in a portfolio, and the client ponders doing something unwise. Whether they're the most risk-averse client or extremely laissez-faire, they're vulnerable to emotional reactions. When they're paying you to help them make smart
Following the failed attempt to repeal and replace the Affordable Care Act, President Trump signaled that his next big effort would be to reform the tax code. But a few weeks later, he said an overhaul of the tax code would be pushed back so another attempt to repeal Obamacare would be a priority.
The elephant and the snowball
Taxes are a critical piece in retirement planning, yet most financial advisors avoid discussing the topic for several reasons. First and foremost, they fear violating federal regulations or industry standards that limit who can provide "tax advice."
Diversification is achieved when the gains in certain holdings of your portfolio offset the losses of other holdings. It means that you don’t have all (or most) of your eggs in the same basket. Diversification is critical because it reduces the impact of (bad) luck and isolated events on the overall performance of your portfolio. Check out how to quantify portfolio diversification: Are all your eggs in the same basket?