Tax Planning
- Identifying AMT issues
- General discussion of deductions and income recognition Answer questions about investment tax issues
- Discuss statement of personal financial position
- Analyze personal cash flow statement
- Develop and/or analyze business balance sheet, income statement, cash flow statement, pro forma statements
- Discuss and educate on employee stock options basics, ISOs, NSOs, planning strategies, etc
- Tax implications of various stock plans– Restricted, phantom, SARs, ESPP
- Non-qualified deferred compensation programs
- Income taxation of life insurance and annuity products
- Investment cost basis research and reporting
Investment Planning/Asset Allocation
- Asset allocation analysis (may include use of PRT for analysis or other approved software)
- Risk and reward (risk tolerance analysis)
- Diversification analysis Analysis and research on individual securities Investment policy statement development
Retirement Planning
- Retirement needs analysis Retirement plans analysis and education
- Savings planning to help clients meet their goal
- Contribution limits planning
- Retirement plan choices (IRA, SEP, etc.) Employer plans vs. self-directed plans analysis
- Assist in the coordination of retirement plan service providers, product sponsors, or vendors as a liaison
- RMD or 72t calculations and analysis Beneficiary designation planning
- Social Security and Medicare health care cost planning
Estate Planning
- General estate planning and gifting strategies
- General estate tax planning and education of trusts and estates – filing requirements, deadlines, etc.
- General trust planning and education – types, features and taxation
- Explanation of estate planning structures/documents – wills, POA, Trusts, etc.
- Explanation of types and treatment of trust income - accounting, taxable, distributable
- Sources of estate liquidity planning
- Ownership titles and titling of assets planning
- Discussing impact of account and trust beneficiary designations
Cash Flow/Budgeting
- Creation of personal or business budget
- Provide guidance and analysis on cash flow management, budgeting, and emergency fund planning
- Explain various components of cash flow (income, taxes, expenses)
- Savings strategies Debt management strategies
- Personal financing strategies
- Analysis of personal statement of financial position and statement of cash flows
Business Planning
- Cash flow analysis
- Retirement strategies
- Succession or Exit Planning
- Cash management
- Employee benefits planning
- Financing strategies
- Business use of insurance analysis Intra-family and other business transfer techniques
Education Planning
- Discussion of qualified tuition/college saving plans
- College costs and inflation analysis Individual needs analysis
- Development of funding strategies
- Provide direction on ownership of assets
- Financial aid strategies
- Gift tax limits and trust usage strategies for education funding
Insurance Needs Planning
- Insurance gap/needs analysis for life, disability, or long-term careInsurance gap/needs analysis for life, disability, or long-term care
- Health care, including Medicare, expense planningAnalysis and planning for estate liquidity
- Planning for policy ownership issues and beneficiary designations
- Asset allocation, diversification, and securities research for variable life and/or annuities (provided advisor is not rep/agent of record)
- Education on types of insurance, i.e. term vs. permanent, nursing home vs. home care, indemnity vs. reimbursement
Personal Financial Planning
- Determining clients’ financial status by analyzing financial statements, special needs, investments, taxation, employee benefits etc.
- Stock option planning
- Discussion of various mortgage options/real estate purchases
- Advice in change of lifestyle or major life event (Marriage, divorce, children, job, education)
- Major purchase goal
analysis and funding options - Net present value calculations for comparison purposes including time value analysis (NPV, FVA, PVA, PVAD)
Importance of saving (dollar cost average, compound interest) - Education on mortgage options and financing analysis
- Provide financial guidance/planning for special circumstances including death, disability, job loss, monetary, windfall, divorce, etc.