It’s a common misconception that Social Security planning is dead. Social Security is a completely unique retirement income stream. For those transitioning into retirement, as long as this system exists, a key question will be: “When should I take my Social Security benefits?” This means that as a financial planner, answering this question should be a critical part of your retirement income practice.
Posted in Social Security, Social Security Timing, Social Security Administration, SSA, Social Security Benefits
Covisum® is hosting a free webinar on Wednesday, March 20 at 11:00 a.m. Central Time. Advisors will learn how to identify which accounts clients should withdraw from, and when, in order to make better retirement strategy decisions.
Posted in Tax, Tax Clarity, Tax Map, Webinar, Taxes
Hidden Value is a column in ThinkAdvisor where Joe Elsasser, CFP®, answers common questions with insights advisors and their clients may not have considered. This week he takes a closer look at the tax implications and the hidden opportunities created through interactions between various cash sources.
Posted in Tax, Tax Clarity, Joe Elsasser, Taxes, ThinkAdvisor, Hidden Value
The deeply-integrated fintech solution you've been looking for has arrived: Income InSight™. The new retirement planning platform quickly and easily shows the impact of different decisions within a client’s financial plan.
Posted in Income Planning Tool
Tax Day is rapidly approaching, and there are a few ways that financial advisors can be really helpful during this stressful time of year.
Many financial advisors know that taxes have a significant impact on their clients, however potential compliance issues often lead to reluctance to talk about taxes. Lumping anything tax-related into "tax advice," is a disservice to your clients. Advisors have a duty to understand, consider and explain the tax consequences of various strategies.
To talk
Posted in Tax, Tax Clarity, Tax Map, Tax Reform, CPAs, Taxes, Tax Cuts and Jobs Act, Tax Law, New Tax Law
We are well into February, and we’ve reached the perfect time of year to schedule annual reviews for your clients who are still working. There are some opportunities for clients with earned income to clean-up before April 15. One of the most basic ways is through IRA contributions. You can use Tax Clarity® to identify opportunities where IRA contributions can be used to reduce the amount of taxable capital gains.
Posted in Blog, Tax, Tax Clarity, Tax Map, Financial Planning, Technology, Taxes
Hidden Value is a column in ThinkAdvisor where Joe Elsasser, CFP®, answers common questions with insights advisors and their clients may not have considered. This week he discusses clients who overspend. Clients who overspend are among the most difficult clients to work with, however they arguably need your advice the most. In this week's column, Joe takes a closer look at the early warning signs and the best ways to combat overspending.
Posted in ThinkAdvisor, Hidden Value, financial advisor
Hidden Value is a column in ThinkAdvisor where Joe Elsasser, CFP®, answers common questions with insights advisors and their clients may not have considered. This week he highlights the importance of evaluating Medicare surcharges and beneficiaries' future tax brackets when considering a Roth conversion.
Posted in Tax, Joe Elsasser, Taxes, Tax Law, ThinkAdvisor, Hidden Value
In a recent guest post for Michael Kitces' blog, Nerd's Eye View, Covisum's Director of Sales and Marketing, Katie Godbout, offered an in-depth look at crafting and using a client persona to generate leads.
Finding prospective clients can be difficult for many financial advisors. The marketing process can seem overwhelming, and unfortunately the solution is often to cast a wide net to try to attract anyone. However, when you try to market to everyone, it becomes incredibly difficult to
Posted in Marketing, Marketing Strategies, Katie Godbout
In a recent article for Forbes, Covisum Founder and President Joe Elsasser, CFP®, outlined the benefits and shortcomings of robo-advisors.
For many people, it is worth at least considering a robo-advisor. For a relatively low price, robo-advisors are reasonably good at managing asset allocation for a given risk level.
However, there are a few situations where relying on a person as your financial advisor is a preferable option. For instance, robo-advisors can't pick up on the changes in
Posted in FinTech, Technology, Tech, Joe Elsasser, Forbes, financial advisor
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