PFP

Randy A. Fox, CFP, AEP is the founder of Two Hawks Consulting LLC. He is a nationally known wealth strategist, philanthropic estate planner, educator and speaker.

Help manage their exit readiness.

By Randy A. Fox, CFP, AEP 
The Holistic Guide to Wealth Management

For many of your clients who are successful entrepreneurs, their business represents 80 percent to 90 percent of the value of their estate.

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While it seems like a large number on paper, it’s often illiquid, preventing the owner from enjoying the rewards of all their hard work. The lack of liquidity can also make owners reluctant to do the right kind of planning to maximize their “walk away” money post-sale.

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Randy A. Fox, CFP, AEP is the founder of Two Hawks Consulting LLC. He is a nationally known wealth strategist, philanthropic estate planner, educator and speaker.

Consider options beyond donor advised funds.

By Randy A. Fox
The Holistic Guide to Wealth Management

After interviewing several thousand high-net-worth families, The U.S. Trust Study of the Philanthropic Conversation found that one-third of respondents (31%) would switch to a new advisor if that advisor could talk to them meaningfully about philanthropy.

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Think about that for a second. One-third of affluent families would switch to a new advisor if that individual was more adept than their current advisor at helping them give their money away. It has nothing to do with investment returns, asset allocation or finding hot alternative investments. It has to do with understanding the client’s values and seeing the whole picture.
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Six ways they can be used.

Danny Lohrfink is the co-founder and chief product officer of Wealth.com. Previously, he was business lead of SoFi’s wealth management division, SoFi Invest, and held several roles at Goldman Sachs Private Wealth Management, including VP on the PWM Management team.

By Danny Lohrfink 
The Holistic Guide to Wealth Management

Contrary to popular belief, a person’s net worth is not the only – or most important – factor when deciding if a trust is appropriate for them. After all a trust is simply an agreement between someone who owns an asset and a trusted person whom they choose to hold and manage that asset for them.

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This common misconception that trusts are only for the wealthy has long prevailed as a leading narrative because of the historically high costs associated with establishing and managing a trust. These costs presented a barrier for many individuals who lacked the financial resources to hire an expensive estate planning attorney. The result was that only the wealthy had these vehicles because they were the only people who could afford them.
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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.

Advances in online planning tools make it easier and more affordable.

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.

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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?
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