Financial Planning - January/February 2021

Advisor fraud: the worst-case scenario

A dead client, an advisor accused of murder and fraud, and an industry that didn’t see it coming.

Fake name, phony credentials, Ponzi-like payments but real victims — this is what authorities are saying about this business.

The future of referrals won’t be driverless but it will be largely remote and fueled by pre-COVID fundamentals.

Decisions we make during financial crises alter as retirement nears — and not always for the better.

Despite lofty markets, offering a “lazy” portfolio may doom a number of ill-prepared planners in the coming year, our columnist warns.

Waddell & Reed had been working in recent years to transform its “proprietary broker-dealer into a fully competitive independent wealth manager.”

With an eye on pathways to fee-only practices and away from an “eat what you kill” philosophy, four planners aim to usher in a more diverse profession.

The private equity-backed RIA agreed to purchase its first firm of the year after being one of the most active acquirers in 2020.

The Boston-based boutique oversees the assets of roughly 140 full- service clients and 800 individual households.

“I diverged from the generic ‘dialing for dollars’ path to advancement and set out to learn from entrepreneurs and leaders from books,” writes advisor Chip Munn.

Long-awaited advertising regulations allow for online testimonials but also increased risk of audits, observers and commissioners say.

A deep dive into all the critical questions, strategies and tax planning moves for clients and their university-bound children.

From COBRA premiums to long-term care, there are surprising uses for funds in these tax-advantaged accounts.

Probabilistic forecasts provide a durable framework for a sound financial future, the author says, and offers some for the new year.