Strategies For Tax Planning And Clients Retiring In 2023, Plus The Latest News In Recruitment And Wealthtech
To My Fellow WSR Community Members:
The 2011 hit film “Moneyball” followed the journey of Major League Baseball’s Oakland Athletics in 2002 to forge a winning team on a limited budget, selecting players based on a statistical analysis system called “sabermetrics,” which confounded conventional wisdom. The strategy helped the A’s finish first in the American League West – and change the game.
The year just behind us was a year of strategy for wealth management, as the necessity of market uncertainty unleashed a wave of invention and adoption of strategies to squeeze higher performance from limited resources. The new year is starting the same way, and advisors who pick the right strategies for their clients will gain the competitive edge this year.
This week, we bring you thoughtful strategies from the experts to maximize opportunity and stability for clients entering retirement and to serve high net worth clients with sophisticated tax planning. We also have the first recruitment news and wealthtech news roundups for 2023.
This Week’s Issue
Here’s what we have for you this week:
- What were the final wealth management deals of the year? In Newsmakers & Roundups, our latest edition of Weekly Recruitments covers Kingswood U.S. adding more than $943 million in 2022 in total client assets, Commonwealth Financial Network recruiting Indiana-based Strategic Planning Group, Kestra Holdings subsidiary Bluespring Wealth Partners bringing on Wisconsin-based Goldstein Advisors and Wealth Enhancement Group acquiring New Jersey-based BFS Wealth Management.
- Who is our latest Wealthtech Leader of the Month? In Digital Domain, we meet David Knoch, CEO of Docupace, which launches a series of virtual roundtables and an RIA Productivity Suite. Other Wealthtech Roundup entries include STP Investment Services acquiring WealthSite, F2 Strategy identifying the top wealthtech spending priorities of 2023, Riskalyze partnering with InvestorCOM on rollover compliance workflows, as well as Entreda Founder Sid Yenamandra launching Surge Ventures.
- Is your client retiring this year? In Upmarket, David Stone, CEO and Co-Founder at RetireOne; David Kline, Private Wealth Advisor at Integrated Partners; and Andy Watts, Vice President of Investment Solutions at Avantax Wealth Management, discuss top issues facing new retirees and steps advisors can take to smooth their transition into retirement.
In case you missed it, last week in Upmarket we brought you Coldstream Wealth Management Chief Wealth Strategist Anne Marie Stonich’s insights on year-end strategies for high net worth investors – in any year. They include helping wealthy clients with QSBS capital gain exclusions, mega backdoor Roth conversions and gifting while assets are depreciated.
How can we help you achieve success this year? Please share your ideas and suggestions with us.
We look forward to growing our engagement with you this year on social media, especially LinkedIn!
All the best for a year of growth and success!
Cheers!
Larry Roth, CEO
Wealth Solutions Report
