FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W323648675> ?p ?o ?g. }

• W323648675 startingPage "32" @default.
• W323648675 abstract "EXECUTIVE SUMMARY * AS CPAs ADD FINANCIAL PLANNING SERVICES TO their professional offerings, it's important not to limit planning to just discussing investments. Effective planners must develop an in-depth strategy by examining all aspects of a client's financial affairs including assets, liabilities, insurance, investments and employee benefits. * BY TAKING A MACROECONOMIC APPROACH TO PLANNING for their clients, CPAs can create a better client relationship. Rather than just being simply the client's accountant, he or she can become a trusted financial adviser. Every strategy a macroeconomic planner recommends can be boiled down to a simple rule: Maximize protection at no cost and maximize wealth at no risk. * FOLLOWING THE INITIAL MEETING, CPAs CAN BEGIN gathering information about the client. The client completes a confidential questionnaire and provides documentation about investments, insurance, mortgages and legal documents such as wills and trusts. The questionnaire and accompanying documentation offer the framework for future client meetings. * ARMED WITH INFORMATION ABOUT THE CLIENT, THE CPA now can do the actual financial analysis. The best way is with a broad financial planning model that goes beyond asset allocation or estate tax calculations. Before recommending any new investments or strategies, CPAs should make sure the client understands what he or she already has. In today's changing market for accounting services, many CPAs have begun adding financial planning to their list of professional offerings. Despite good intentions, there's a chance these CPAs might limit this service to merely discussing investments rather than helping clients to develop an in-depth plan. By restricting their professional services to investments and related subjects, CPAs may miss significant opportunities. For instance a complete and thorough plan can help clients reduce income and estate taxes, decrease insurance costs and debt and better manage retirement plan distributions. There is another way to do business that allows CPAs to develop a comprehensive financial plan and build better long-term client relationships. An effective financial planner must examine all of a client's assets and liabilities. No detail should be overlooked. Although such planning may take more time initially, the extra effort is worthwhile in the long run as this approach creates a uniquely better client relationship. A CPA can transform himself or herself from being merely a client's accountant or investment broker into a trusted adviser. ONLY HALF THE JOB While giving only investment advice has merits, it leaves the task of true professional planning only partially done. Unless a CPA can analyze, explain and coordinate the entire gamut of a client's financial life, he or she runs the risk of mismanaging the client's affairs. CPAs entering financial planning must provide comprehensive services or lose clients. Even highly skilled CPAs might fall into the trap of financial planning mediocrity. The result: Clients are left with a poorly executed and alarmingly inefficient financial plan that subjects them to a limited outlook for the future. Take the case of Mary, a 20-something client who is investing $500 per month in growth mutual funds, which had a 12% return last year. Some financial planners might congratulate Mary for having the discipline and vision to start investing at her age. But what if, in fact, this strategy is losing Mary money? Although the fund earned a healthy 12%, Mary is paying off a car loan, which also carries a 12% interest rate. By investing in the mutual fund instead of using that money to repay the loan, Mary is actually losing money--a fact most investment advisers would overlook--due, in part, to annual income taxes on the mutual fund. After paying taxes on capital gain and dividend distributions, Mary's return shrinks to 8%. Why invest at an 8% aftertax return and pay 12% on a car loan? …" @default.
• W323648675 created "2016-06-24" @default.
• W323648675 creator A5037055671 @default.
• W323648675 date "2002-01-01" @default.
• W323648675 modified "2023-09-27" @default.
• W323648675 title "Don't Invest for Clients - Plan for Them: Why Investing Is Not Financial Planning" @default.
• W323648675 hasPublicationYear "2002" @default.
• W323648675 type Work @default.
• W323648675 sameAs 323648675 @default.
• W323648675 citedByCount "1" @default.
• W323648675 crossrefType "journal-article" @default.
• W323648675 hasAuthorship W323648675A5037055671 @default.
• W323648675 hasConcept C10138342 @default.
• W323648675 hasConcept C121955636 @default.
• W323648675 hasConcept C139043278 @default.
• W323648675 hasConcept C144133560 @default.
• W323648675 hasConcept C162118730 @default.
• W323648675 hasConcept C162324750 @default.
• W323648675 hasConcept C162853370 @default.
• W323648675 hasConcept C199360897 @default.
• W323648675 hasConcept C2778920669 @default.
• W323648675 hasConcept C2780378061 @default.
• W323648675 hasConcept C2780495726 @default.
• W323648675 hasConcept C38652104 @default.
• W323648675 hasConcept C41008148 @default.
• W323648675 hasConcept C56666940 @default.
• W323648675 hasConcept C70179600 @default.
• W323648675 hasConcept C76178495 @default.
• W323648675 hasConceptScore W323648675C10138342 @default.
• W323648675 hasConceptScore W323648675C121955636 @default.
• W323648675 hasConceptScore W323648675C139043278 @default.
• W323648675 hasConceptScore W323648675C144133560 @default.
• W323648675 hasConceptScore W323648675C162118730 @default.
• W323648675 hasConceptScore W323648675C162324750 @default.
• W323648675 hasConceptScore W323648675C162853370 @default.
• W323648675 hasConceptScore W323648675C199360897 @default.
• W323648675 hasConceptScore W323648675C2778920669 @default.
• W323648675 hasConceptScore W323648675C2780378061 @default.
• W323648675 hasConceptScore W323648675C2780495726 @default.
• W323648675 hasConceptScore W323648675C38652104 @default.
• W323648675 hasConceptScore W323648675C41008148 @default.
• W323648675 hasConceptScore W323648675C56666940 @default.
• W323648675 hasConceptScore W323648675C70179600 @default.
• W323648675 hasConceptScore W323648675C76178495 @default.
• W323648675 hasIssue "1" @default.
• W323648675 hasLocation W3236486751 @default.
• W323648675 hasOpenAccess W323648675 @default.
• W323648675 hasPrimaryLocation W3236486751 @default.
• W323648675 hasRelatedWork W10707645 @default.
• W323648675 hasRelatedWork W115217457 @default.
• W323648675 hasRelatedWork W123402753 @default.
• W323648675 hasRelatedWork W128072209 @default.
• W323648675 hasRelatedWork W140516572 @default.
• W323648675 hasRelatedWork W149664433 @default.
• W323648675 hasRelatedWork W173692244 @default.
• W323648675 hasRelatedWork W268328231 @default.
• W323648675 hasRelatedWork W285008673 @default.
• W323648675 hasRelatedWork W289865695 @default.
• W323648675 hasRelatedWork W2979012318 @default.
• W323648675 hasRelatedWork W2992500452 @default.
• W323648675 hasRelatedWork W2993818967 @default.
• W323648675 hasRelatedWork W2993820564 @default.
• W323648675 hasRelatedWork W340551408 @default.
• W323648675 hasRelatedWork W349679456 @default.
• W323648675 hasRelatedWork W821241385 @default.
• W323648675 hasRelatedWork W8552816 @default.
• W323648675 hasRelatedWork W98817999 @default.
• W323648675 hasRelatedWork W2738347268 @default.
• W323648675 hasVolume "193" @default.
• W323648675 isParatext "false" @default.
• W323648675 isRetracted "false" @default.
• W323648675 magId "323648675" @default.
• W323648675 workType "article" @default.