If you’ve ever sent an invoice to someone who planned to pay later, you’re probably using accrual accounting. It can be hard to keep track of finances when you’ve accrued payables and liabilities. But, using the matching principle can help you stay organized. The matching principle in accounting states that you must report expenses in […]
Archives for 2022
FSCS probes BSPS adviser which used 38 trading names
Pension transfer adviser Better Retirement Group Ltd, a firm which has used nearly 40 trading names, has today been placed under investigation by the Financial Services Compensation Scheme. The FSCS said the firm, under investigation for a number of BSPS pension transfers, was formerly known as Directly Financial Ltd and Financial Strategy Ltd. The firm […]
Kitces & Carl Ep 94: Is Being A Financial Planner A Service Business Or An Intellectual Property Business?
For many financial advisors, the most valuable part of what they offer comes down to the financial advice that they give, whether it be the expert guidance they give to a certain niche or a unique point of view that presents unique insights to an individual client. However, the advice given to clients is not […]
How advisors can help parents cash in on student loan relief
Tax-Loss Harvesting Best Practices (And How To Scale It Across A Client Base)
Tax-loss harvesting – i.e., selling investments at a loss to capture a tax deduction while re-investing the proceeds to maintain market exposure – is a popular strategy for financial advisors to increase their clients’ after-tax investment returns. For many, however, tax-loss harvesting remains somewhat more of an art than a science: Because the value of […]
Parmenion to acquire Planner’s £1.9bn MPS firm
Adviser platform Parmenion is to acquire Chartered Planner-run investment firm EBI Portfolios for an undisclosed sum. West Midlands-based EBI (evidence based investing) administers £1.9bn of funds for over 150 advisory firms and their 7,000 clients. EBI provides outsourced investment for adviser firms, mainly through MPSs (Managed Portfolio Service) and DFMs (Discretionary Fund Manager). It also offers cashflow […]
Regulators take a tough look at small banks’ partnerships with fintechs
6 Tips on How to Improve Financial Reporting Processes
Let’s face it: Your finances play a major role in your business’s success. You need to have accurate reporting to know where your business stands financially. Otherwise, you could end up overspending and running your business into the ground. To keep your small business finances in shipshape, learn how to improve financial reporting processes. Financial […]
#FA Success Ep 297: From $0 To $70M In 2 Years By Leveraging Facebook Groups To Share Authentic Expertise, With Andy Panko
Welcome back to the 297th episode of the Financial Advisor Success Podcast! My guest on today’s podcast is Andy Panko. Andy is the owner of Tenon Financial, a virtual independent RIA that oversees $70 million in assets under management for 43 retired client households. What’s unique about Andy, though, is how, shortly after launching his […]
Hargreaves Lansdown CEO bonus halves
Chris Hill, CEO of Hargreaves Lansdown, has taken a pay cut as part of the investment and platform provider’s new renumeration policy. Mr Hill’s total variable remuneration fell to £1.12m (2021: £1.96m) due to new bonus caps. The majority of the pay cut came due to a reduction in the maximum annual bonus. In 2021 […]