Rory Henry, Author at CPA Trendlines

Trust and Estate Planning Is for Clients of All Ages

Cody Barbo is the founder and CEO of Trust & Will. Before this, he was founder and CEO of Industry, a “LinkedIn” for the service and hospitality industry. He serves on the San Diego State University Alumni Board of Advisors and Phi Kappa Theta Fraternity’s National Foundation Board.

It’s never been easier or more affordable with advances in online planning tools.

By Cody Barbo
The Holistic Guide to Wealth Management

Studies show that 60 percent of families don’t have any estate planning in place, which usually makes it more painful and expensive for families to settle the estate of their loved ones.

MORE: Annuities and Insurance Growing More Attractive | Bridge the Advice Gap for Better Financial Futures | Subscriptions Beat AUM and Hourly Fees for Wealth Management | Pursue Excellence to Win the Battle for Talent | Seven Tech Keys to a Holistic Service Model | Toward a 21st-Century CPA: A Dynamic Vision | Why CPAs Are Best Positioned to Become Financial Advisors | Rory Henry Upends the Traditional Accounting Firm | Why Now Is the Time for CPAs to Embrace Wealth Management
Exclusively for PRO Members. Log in here or upgrade to PRO today.

When it comes to considering who will be the best guardian for your children or how to divide your assets among loved ones, thinking about your estate can be stressful and intimidating. In fact, our research shows that half of people who eventually do get estate plans in place, spend one to five years considering before actually completing it. Why do so many people procrastinate about something that’s so important?
READ MORE →

PRO Member Exclusive

Annuities and Insurance Growing More Attractive

Lau	David Lau is the founder and CEO of DPL Financial Partners, a privately held financial services firm that specializes in the development and distribution of low-cost, commission-free insurance and annuity products, for registered investment advisors (RIAs) and individual investors.

Plus four common misconceptions.

By David Lau, founder and CEO of DPL Financial Partners, and
Ross McGoodwin, regional vice president at DPL Financial Partners
The Holistic Guide to Wealth Management

After the stock market swooned (-22% S&P 500) and the majority of bond indices suffered double-digit losses in 2022, protection and income solutions are at the forefront of planning discussions. Instead of these principal protection and income solutions being offered only by commission-based agents, however, now they can be offered by fiduciaries for planning discussions and appropriate implementation.

MORE: Bridge the Advice Gap for Better Financial Futures | Help Clients Manage and Embrace Investment Risk | Tax Advisory Services: A Pathway to Greater Financial Freedom | Leverage AI to Grow and Protect Revenue: Six Steps | Four Ways to Provide Wealth Management in Your Accounting Practice | What Multiples Mean to Accounting Firms | How Wealth Management Has Evolved | Why Now Is the Time for CPAs to Embrace Wealth Management
Exclusively for PRO Members. Log in here or upgrade to PRO today.

According to LIMRA (Life Insurance Marketing and Research Association), retail annuity sales in 2022 shattered the annual sales records set during the global financial crisis of 2008. For instance, fixed-rate deferred annuities totaled $113 billion, more than double the sales in 2021, LIMRA reported. CD alternatives, such as fixed-rate deferred annuities, provide security and tax-deferred growth. I have found this helps clients guarantee upside return, something they are actively seeking after one of the worst years in combined equity and bond performance since World War II. I’ve also found that fee-only options will provide higher rates compared to traditional, commission-based solutions.
READ MORE →

ADVISORY & CONSULTING

Bridge the Advice Gap for Better Financial Futures

Philipp Hecker is a co-founder and the CEO of Bento Engine, a FinTech at the intersection of technology and impactful wealth management advice. At J.P. Morgan he founded and led the Wealth Planning & Advice organization. He holds an MBA from Harvard Business School.

Fifteen age-based client milestones for advisors to note.

By Philipp Hecker
The Holistic Guide to Wealth Management

Despite the significant growth of the U.S. wealth management industry over the past few decades, the state of advice in this country falls short of its potential. Americans deserve more and better advice beyond just investment-related matters. Several concerning statistics highlight this issue:

A Caring.com survey finds that a staggering 67 percent of Americans pass away without a will, lacking even the most fundamental trust and estate documents.
An Edward Jones survey finds just one in five U.S. parents have saved, or are planning to save, for their children’s education using a 529 plan. In fact, two thirds (67%) of survey respondents said they were not aware of the features and potential tax benefits of 529 plans.
Vanguard data finds that just one in six retirement account holders over age 50 are making catchup contributions to which they are eligible.

MORE: Help Clients Manage and Embrace Investment Risk | Quantifying the Value of an Advisor | Subscriptions Beat AUM and Hourly Fees for Wealth Management | Tax Advisory Services: A Pathway to Greater Financial Freedom | Raise Your Rates to Change Your Clientele | Pursue Excellence to Win the Battle for Talent | Leverage AI to Grow and Protect Revenue: Six Steps | How WealthTech Is Reshaping the Future of Holistic Advice | Seven Tech Keys to a Holistic Service Model | Four Ways to Provide Wealth Management in Your Accounting Practice | Profile of a Modern Firm: Putting the Vision into Practice | Toward a 21st-Century CPA: A Dynamic Vision | What Multiples Mean to Accounting Firms
Exclusively for PRO Members. Log in here or upgrade to PRO today.

Our firm’s research found that three in five investors (60%) who have advisors are not getting the guidance they need about making retirement catchup contributions, while two in five (40%) lack clarity about fundamental decisions around the optimal timing for initiating Social Security benefits.

Imagine what it’s like for the majority of Americans who don’t have financial advisors.
READ MORE →

ADVISORY & CONSULTING

Help Clients Manage and Embrace Investment Risk

Aaron Klein co-founded Nitrogen and led the company to 42 straight quarters of growth as its first CEO. He was named by Investment News as one of the industry’s 40 under 40 executives, and the Wealth Management Industry Awards honored him as CEO of the Year in 2023.

The key is reasonable expectations.

By Aaron Klein and Dan Bolton
The Holistic Guide to Wealth Management

We face risks every day in our lives, from getting into our cars, to eating meals prepared at a restaurant, to flying in planes, to attending parades, sporting events and concerts. Rather than burying our heads in the sand, most of us get on with our daily lives by making calculated assumptions about what risks are safe and manageable and which ones are reckless.

When it comes to our money, however, risk plays all kinds of games on our emotions and often triggers our fight-or-flight response. The Securities & Exchange Commission defines financial risk as “the degree of uncertainty and/or potential financial loss inherent in an investment decision.” In general, as investment risks rise, investors seek higher returns to compensate themselves for taking such risks.

Dan Bolton is vice president of corporate marketing at Nitrogen. He is the creator of the Fearless Investing Summit, one of the most dynamic and well-attended conferences in the wealth management profession, and launched the pre-eminent benchmark Advisor Growth Survey.

MORE: Quantifying the Value of an Advisor | Subscriptions Beat AUM and Hourly Fees for Wealth Management | Pursue Excellence to Win the Battle for Talent | Seven Tech Keys to a Holistic Service Model | Toward a 21st-Century CPA: A Dynamic Vision | Why CPAs Are Best Positioned to Become Financial Advisors | Rory Henry Upends the Traditional Accounting Firm
Exclusively for PRO Members. Log in here or upgrade to PRO today.

So, if you’re thinking of adding an investment advisory component to your accounting practice, just know that being crystal clear about each client’s unique tolerance for risk is the first step toward getting them invested properly.
READ MORE →

PRO Member Exclusive

Quantifying the Value of an Advisor

Three P’s for helping investors make rational decisions.

By Rory Henry
The Holistic Guide to Wealth Management

Malcolm Forbes liked to say, “Advice is more fun to give than to receive.” But the right advice in the right framework can be invaluable. And sometimes, the best advice you’ll ever receive is what prevents you from engaging in harmful behaviors.

MORE: Subscriptions Beat AUM and Hourly Fees for Wealth Management | Tax Advisory Services: A Pathway to Greater Financial Freedom | Raise Your Rates to Change Your Clientele | Pursue Excellence to Win the Battle for Talent | Leverage AI to Grow and Protect Revenue: Six Steps | How WealthTech Is Reshaping the Future of Holistic Advice | Seven Tech Keys to a Holistic Service Model | Four Ways to Provide Wealth Management in Your Accounting Practice | Profile of a Modern Firm: Putting the Vision into Practice | Toward a 21st-Century CPA: A Dynamic Vision
Exclusively for PRO Members. Log in here or upgrade to PRO today.

Michael DiJoseph, CFA, a senior strategist at Vanguard Investment Advisory Research Center, has spent a large portion of his career studying how financial advisors advise clients, how they can get better at providing advice and how we can measure the value of advice because these days, everyone from salesclerks at the mall to NASA rocket consultants seem to have the word “advisor” attached to their job title. More on that in a minute.
READ MORE →

SEARCH CPA TRENDLINES

Rory Henry

MORE AT STORE.CPATRENDLINES.COM

Rory Henry is the author of "Holistic Guide to Wealth Management," published by CPA Trendlines here, a comprehensive resource with contributions from over 24 thought leaders in accounting, wealth management, and behavioral finance.

Buy now | Learn more

Henry, a Certified Financial Planner™ and a Behavioral Financial Advisor (BFA™), is a director at Arrowroot Family Office and co-founder of AFO Wealth Management Forward.

Catch the webcasts and podcasts for the handbook, here:

The Holistic Guide to Wealth Management

Originator of the Advis-ROR®, methodology (Return on Relationship), Rory has been in the tax and financial advisory profession for nearly two decades. He has created a unique program to help accounting professionals incorporate holistic wealth management and proactive planning services into their practices.

He hosts the AFO Wealth Management Forward podcast, and has been published in numerous financial and accounting media outlets including Accounting Today, CPA Trendlines, Intuit Tax Pro Connect and Financial Advisor Magazine among others.

Outside of the office work, Rory is an avid sports fan, plays golf, and enjoys performing improv at comedy theaters throughout Los Angeles.

He can be contacted on Linkedin.

Arrowroot Family Office Disclaimer:This material contains opinions of the participants but not necessarily those of Arrowroot Family Office, its affiliated companies, directors, and employees. The opinions contained herein are subject to change without notice. Forward looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable but are not assured as to accuracy. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is not indicative of future results. Content should not be construed as investment, legal or tax advice. The information in this communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance, or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Here’s what you’re looking for: Rory Henry