Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that the CFP Board announced a series of proposed changes to its certification requirements, including an increase in required Continuing Education (CE) hours for current certificants to 40 hours every two years (up from the current […]
A Recordkeeping Checklist For Financial Planning Services: Proactive Documentation Of Service Delivery To Reduce Regulatory Scrutiny
Maintaining adequate books and records is a cornerstone of compliance for all investment advisers. While state and Federal regulations clearly outline recordkeeping requirements for areas like financials, advertisements, and trading records, there is a notable gap when it comes to documenting the delivery of services – especially financial planning services – necessary to justify the […]
5 Signs It’s Time to Hire an Accountant
Accounting, taxes, and financial planning are tricky tasks to navigate, plain and simple. Thankfully, there are tools, like accounting software, you can use to streamline your responsibilities. But at some point, you might decide to hire an accountant for their professional guidance. Not sure if it’s time to hire an accountant for small business? Signs […]
What Is Inventory?
Unless you own a service-based business, you likely have inventory. Knowing how much inventory you have is crucial for managing accurate small business accounting books, ordering new stock, and making pricing decisions. So, what is inventory? Inventory meaning Inventory represents the goods your small business has for sale or in storage. Your small business’s inventory […]
#FASuccess Ep 416: Avoiding The Compliance Headaches When Going RIA By Choosing A ‘Supported Independence’ Corporate RIA Platform, With Fran Toler
Welcome everyone! Welcome to the 416th episode of the Financial Advisor Success Podcast! My guest on today’s podcast is Fran Toler. Fran is the CEO of Toler Financial Group, a DBA firm under the RIA Rossby Financial, in Silver Spring, Maryland, that oversees nearly $200 million in assets under management for 280 client households. What’s […]
Business Tax Deadlines for 2025 to Put on Your Calendar (+ Charts)
It’s that time of year again when tax filing deadlines bear down on small businesses across the country. Don’t get caught off guard this year. Read on to learn all about the deadlines for taxes. Business tax deadlines Tax Day (aka the day individual income tax returns are due) is on April 15 every year. But […]
Building An Inclusive Hiring Process To Decrease Bias And Find Your Firm’s Ideal Candidate
When a financial planning firm is hiring a new employee, it naturally wants to find the best candidate to fill the role. However, some firms may unintentionally limit the applicant pool by using a promotion and selection process that doesn’t focus on the most important traits or that introduces biases, which can lead to missing […]
Weekend Reading For Financial Planners (December 14–15)
Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a recent study indicates that surveyed advisory firms that raised their fees in the last year saw almost identical 97% client retention rates as firms that lowered their fees (with the firms raising their fees […]
Kitces & Carl Ep 153: Evaluating The Tradeoffs That Come With Retaining ‘Legacy’ Clients
There’s an old joke in the financial planning industry that the ideal client is “anyone with a pulse”. For advisors just starting out, that sentiment often rings true – every prospect willing to pay for their service feels like an opportunity. However, as their firms mature, advisors often notice a divide manifesting between newer clients […]
How Much Does Having The ‘Right’ Capital Market Assumptions Matter In Retirement Planning?
“How much can I spend in retirement?” is perhaps the most fundamental question a client brings to their advisor. Answering it well requires a range of assumptions – from estimating average investment returns to understanding correlations across asset classes. These assumptions are rooted in Capital Market Assumptions (CMAs), which project how different assets might perform […]