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    Covisum's Top Retirement Tax Planning Tips

    Proper retirement tax planning is essential for clients to understand as they prepare to retire. Living on a fixed income can be difficult for many retirees, and avoiding unnecessary taxes can help stretch out their retirement income strategies. Retirees face significant tax obligations. They’re required to pay income tax on any pensions and withdrawals from all tax-deferred investments made during the same year. Tax-deferred investments include traditional IRAs, 401(k)s, and similar accounts, as well as tax-deferred annuities when withdrawals are made. These taxes can significantly impact a retiree’s nest egg, giving them less money to live on. Luckily, there are many strategies to help lower taxes paid on retirement income.

    Income Planning

    The Benefits of Teaching Clients About Retirement Income Planning

    A financial advisor shoulders considerable responsibility. Not only are they advising and guiding clients when it comes to critical decision-making, but they’re also helping them understand retirement planning, financial literacy, and smart fiscal choices. Teaching clients how to plan for retirement simplifies your job and gives them more potential to make the most of their investments. Plus, it can give you more financial assets to manage. Although retirement planning and financial literacy are necessary elements of client success, the education process isn’t always easy. Here are some simple ways to teach your clients how to plan for retirement.

    Joe Elsasser

    FinPlan Friday: Social Security Claiming Strategies for Couples

    Social Security Strategies for Married Couples It can be challenging for retirees to determine the optimal time to claim Social Security. Add a second benefit for married couples, and deciding when to claim can get even more complicated. Financial advisors have an opportunity to help married couples take advantage of certain Social Security claiming strategies unique to their situation. In this month's FinPlan Friday conversation, Joe talks about Social Security claiming strategies for married couples.


    Top 6 Trends for Financial Advisor Marketing in 2021

    The market for financial advisory services is ever-changing. The changes have come even faster this year as we’re living through a once-in-a-lifetime pandemic. Similar to the changes this year has brought, innovation has also occurred at a rapid pace. For example, it used to take years to produce vaccines, and our best minds have whittled that down to months. This speed is no different when it comes to financial advisory services. The pace of change is quick, and adaptation is key. With respect to marketing services and new client acquisition, there are already several trends emerging due to innovation, technology, and need. By working with thousands of advisors and being at the epicenter of marketing technology and services, we have identified six major trends for advisors to consider in 2021 for marketing to new clients:

    Katie Godbout

    Building a High-Quality Email Distribution List for Your Financial Planning Practice

    Acquiring email leads as a financial advisor isn’t a quick, easy process. It takes patience, hard work, and the right strategy. There are many different ways to increase lead generation for your financial planning practice, such as email marketing, gated content, in-person networking, newsletters, inbound marketing, referrals, social media, and more. A quality email marketing list can make or break your financial planning practice, but it’s not all about the numbers — think quality over quantity. Getting your information in front of the right people is vital. Sending unwanted emails to the wrong people wastes valuable time and resources, and it won’t help grow your practice. Not sure how to get started? Here are some helpful ways to create and grow an email distribution list for your financial advising practice.


    How Advisors Can Use Software to Make Roth Conversions Easier

    Roth Conversions Made Easy You're smart. You know that converting dollars from a traditional IRA into a Roth IRA can be a good tax technique for many of your retired clients. Roth conversions can help clients manage tax obligations in the short-term while reducing overall taxes paid during retirement, but determining when and how much to convert can be time-consuming, and you have many clients who need your help. You deserve software that will make Roth conversions easier. 

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