Financial Planning

Financial Planning is the top destination for independent financial advisors, offering crucial insights and analysis that empower them to make smart choices for their businesses and clients. This unique resource is specifically tailored to meet the needs of independent financial planners. It features timely news, expert opinions, and actionable strategies to help advisors grow their practices. The content is centered on key areas that matter to advisors: fostering client relationships, effectively managing their businesses and technology, and overseeing client portfolios.

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Avoid 'Jordan's revenge' and find slam-dunk savings for athletes

1 day ago | financial-planning.com | Tobias Salinger

For financial advisors and tax professionals, Michael Jordan's first championship took meaning beyond the beginning of the Chicago Bulls' legendary dynasty. Hoops fans recall the team's 1991 National Basketball Association title over the Los Angeles Lakers as the first of the Bulls' six championships under His Airness and company, a changing of the guard from the dominance of Magic Johnson and his "Showtime" squad.
New studies examine wealth taxes amid TCJA debate

3 days ago | financial-planning.com | Tobias Salinger

Amid some mixed signals about the possibility of higher taxes for some wealthy households, new research is shedding light on the many potential options available to policymakers. President Donald Trump and his Republican allies in control of Congress face a year-end deadline to extend the expiring provisions of the Tax Cuts and Jobs Act.
IRS proposes to end penalties on basis-shifting transactions

3 days ago | financial-planning.com | Michael Cohn

The Treasury Department and the Internal Revenue Service are planning to withdraw regulations that labeled basis-shifting transactions among partnerships and related parties as "transactions of interest" akin to tax shelters and stop imposing penalties on them. In , the Treasury and the IRS said Thursday they intend to publish a notice of proposed rulemaking proposing to remove the basis-shifting TOI regulations from the Income Tax Regulations.
LPL deals with Commonwealth, First Horizon top industry M&A moves

6 days ago | financial-planning.com | Frank Gargano

LPL Financial has established itself as a dominant figure in the mergers and acquisitions market since the start of this year, announcing the multibillion-dollar purchase of Commonwealth Financial Network and a partnership with First Horizon Bank's wealth management subsidiary. Betterment and Carson Group have also jumped into the fray with deals of their own.
Why and when do financial advisors change firms? It's complicated

1 week ago | financial-planning.com | Tobias Salinger

In the dynamics that industry recruiters call the "push and pull" of wealth management firms' fight to win talent, top financial advisors represent the main prize up for grabs. And several thousands choose to change their brokerage or registered investment advisory firms each year. But they do so for any number of reasons on a wide range of timelines.
RBC recruits $5B ex-First Republic team from JPMorgan: Advisor Moves

1 week ago | financial-planning.com | Dan Shaw

More than two years after JPMorgan bought First Republic out of receivership, advisors formerly registered with the regional bank are still heading for the exits. RBC Wealth Management announced on Thursday that it had recruited a team of them previously managing $5 billion. It was just one of many recruiting deals this week involving AUM tallies well in excess of $1 billion. Read about them below.
What to expect in financial advisor pay in 2025

1 week ago | financial-planning.com | Dan Shaw

When markets go up, even advisors whose compensation rates have dipped have fewer reasons for complaining. They can at least take comfort in knowing their growing assets under management will boost their higher take-home pay. Such was the case in recent years, in stocks no doubt eased the pain of advisors whose compensation was reduced because they were on the low end of the revenue-generation scale.
Nobody wins when family fights: How advisors reduce conflict

1 week ago | financial-planning.com | Rob Burgess

For many families, money is such a fraught issue that people would literally rather take the reasoning for their estate planning decisions to their graves than discuss them beforehand. This lack of candor is sure to cause hurt feelings and even costly litigation when assets are inevitably acrimoniously divided among the remaining family members. But for advisors who facilitate effective communication between client families ahead of time, the process can instead bond them even closer.
Ask an Advisor: Should you offer friends and family discounts?

1 week ago | financial-planning.com | Brian Wallheimer

It's only natural for a financial advisor to want to help a friend or family member with some investing tips or a nudge toward an estate plan. But how far should that go? Some general advice around the Thanksgiving Day table is one thing, but should advisors offer discounts on their actual services? On the one hand, it might feel strange to charge full price to a parent, sibling or close friend.
The basics of S corporations — and the pitfalls for small businesses

1 week ago | financial-planning.com | Tobias Salinger

Electing to establish an S corporation could unlock the tax benefits enjoyed by millions of small business owners — as long as financial advisors and clients avoid some pitfalls. Those include the ramifications of filing for deductions on the pass-through entity's so-called qualified business income, the requirement of one single class of stock for the company's equity and the implications of the S corp holding real estate, according to Tal Binder, CEO of Gelt.