Michael Kitces

Commissions-based compensation models are losing ground to fee-based ones. But for broker-dealers, the switch isn’t something to be entered into lightly, Michael Kitces writes.

So-called reverse mortgages present a number of appealing features for borrowers — and a number of confounding tax implications, Michael Kitces writes.

Without diversifying cash flows across four key categories, retirees might be taking on too much risk, Michael Kitces writes.

Spouses on either side of the split can benefit — or lose — based on their claims strategies.

They handle the trading, rebalancing and overall management of portfolios — freeing advisers to face their clients. But not everyone wins, as Michael Kitces writes.

It’s time to consider payment schemes that are more transparent and better aligned between who pays the cost — and who enjoys the benefits.

Advisers often use one number to determine a client’s appetite for — and ability to absorb — market risk. And that’s a problem, Michael Kitces writes.

How advisers can help overcome their irrational expectations.

Avoiding these mistakes with a small business is essential.

Changes can substantially reduce the value of delaying widow(er) benefits for surviving spouses.

The final version of the memorandum that President Trump signed did not actually include a provision to hold up the regulation. It's still game on.

Finding that investment unicorn is growing increasingly difficult — precisely because advisers have fewer advantages over one another, Michael Kitces says. But there’s a way to finesse it.

Technology is getting faster and smarter. Luckily, advisers have a natural-born defense — but first must learn how to use it.

Policy owners who take out loans may need a rescue — but not all life preservers are created equal.

Why advisers should use age-banding to plan for retirees’ spending levels to flex and adjust.

As brokers seek to redefine their value proposition, advisors need to rethink theirs.

High-net-worth clients can be baffled by a number of trust vehicles that minimize the tax liability on IRAs. Here’s how advisers can guide them.

To manage risk in the equity markets, advisers should pitch a V-shaped bond tent.

A unique structure that allows a client some income tax benefits, while also excluding trust assets from an estate.

If you plan to join another firm or go indie, you’d better reacquaint yourself with this landmark agreement first.