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Broker Educational
Sales & Training, Inc. April 2024
Monthly Newsletters

 

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ADVISOR NEWS INSIGHT

News  •   AFRs  •   Tools  •   Requirements  •   Featured  •   CE


INDUSTRY NEWS

 


ELDER ABUSE PLANNING

10 COMMON SCAMS THAT TARGET SENIORS AND HOW TO AVOID THEM

Learn the warning signs to identify and steer clear of senior scams. Every year,
thieves target individuals to get access to their personal information and
money, and they tend to zero in on older people. (Rachel Hartman, Contributor,
U.S. News & World Report L.P., 02/02/2024)

Read more

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ESTATE PLANNING

ESTATE, GIFT, GST & RELATED INCOME TAX PROPOSALS – WHAT IS THE WHITE HOUSE
DOING?

This article from the law firm of Rivkin Radler, describes the White House’s
recently released Fiscal Year 2025 Budget and the administration’s wish list for
the “reformation” of the income tax and transfer tax regimes applicable to an
individual’s lifetime and testamentary dispositions of property for the benefit
of the individual’s family (for our purposes, the “transfer tax regime”). (Louis
Vlahos, Partner, Rivkin Radler LLP, 03/18/2024)

Read more

   

WHAT TO KNOW ABOUT THE NEW BILL TARGETING GRATS AND ‘ABUSIVE TRUSTS’

The Getting Rid of Abusive Trusts Act is intended to make these trusts less
attractive for tax avoidance. (John Manganaro, Senior Reporter, ThinkAdvisor,
03/21/2024)

Read more

 

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RETIREMENT PLANNING

HELPING SOLE PROPRIETORS CHOOSE BETWEEN A SOLO 401(K) AND A SEP-IRA

The simplified employee plan–individual retirement account (SEP-IRA) has long
been the star option for sole proprietors seeking to reduce income taxes and
save for retirement beyond the lower contribution limits of traditional
individual retirement arrangements (IRAs). However, with discount brokerage
firms’ improvements in ease of account establishment and management, the
IRS-termed one-participant 401(k) plan, often referred to as the solo 401(k), is
growing in popularity. (Kelley C. Long, CPA®/PFS, CFP®, Personal Financial Coach
and Consultant Kelley C Long Consulting LLC., 02/20/2024)

Read more

   

IMPROVING YOUR FINANCES

In this article/video with Christine Benz of Morningstar and Ed Slott, “Brace
Yourself for Higher RMDs in 2024,” they explain why many investors who are
subject to required minimum distributions—which currently commence at age 73—are
apt to find themselves with their largest distributions ever in 2024. Not only
does the percentage of their tax-deferred account balance that they’re required
to take out and pay taxes on the increase as they age, but most people’s
balances are elevated thanks to a soaring stock market in 2023. (Christine Benz,
Director of Personal Finance and Retirement Planning, Morningstar, and Ed Slott,
CPA, Best-Selling Author, Ed Slott and Company, LLC, 03/13/2024)

Read more/Watch Video

   

RETIREMENT INSECURITY 2024: AMERICANS’ VIEWS OF RETIREMENT

A national opinion poll finds that working age Americans are increasingly
worried about retirement, and they see a return to pensions to restore the
American Dream of retirement. Eighty-three percent of respondents say that all
workers should have a pension so they can be independent and self-reliant in
retirement, and more than three-fourths of Americans agree that those with
pensions are more likely to have a secure retirement. The survey results are
detailed in the “Retirement Insecurity 2024: Americans’ Views of Retirement”
from the National Institute on Retirement Security. (Dan Doonan, Executive
Director, and Kelly Kenneally, Communications Consultant, National Institute on
Retirement Security, 02/2024)

Download survey

   

THE NEW FIDUCIARY RULE (24): THE DOL FIDUCIARY RULE REQUIRES A RECOMMENDATION.
WHAT IS THAT?

Here is another article from Fred Reish.com offering timely updates and insights
on retirement industry for service providers, plans sponsors, and registered
investment advisors. In this update, Mr. Reish describes the significance of the
term “What Is a Recommendation.” (C. Frederick Reish, Partner, Faegre Drinker
Biddle & Reath LLP, 03/21/2024)

Read more

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SOCIAL SECURITY PLANNING

SOCIAL SECURITY CLAIMING: THE CASE OF THE AGE AND EARNINGS GAP

The Scenario: Married, Different Ages, Different Earnings: Greg and Alice are a
married couple. Greg is a high earner and Alice is a middle-income earner, and
there is over seven years’ difference in their ages. (John Manganaro, Senior
Reporter, ThinkAdvisor, 02/29/2024)

Read more

   

FILING RULES FOR RETIREMENT AND SPOUSE BENEFITS

The Bipartisan Budget Act of 2015 made some changes to Social Security’s laws
about filing for retirement and spousal benefits. Determining when to start your
Social Security benefits is a personal decision. The Social Security
Administration (SSA) has released a bulletin explaining the timing of Multiple
Benefits also called “Deemed Filing.” (SSA)

Read bulletin

   

WHEN DELAYED SOCIAL SECURITY CLAIMING DOESN’T GO AS PLANNED

Here is another series of Social Security Claiming case studies from Think
Advisor. In the case study of a high-earning spouse, the optimal claiming
approach proved surprising. The big takeaway was that when to claim spousal
benefits in cases with big differences in earnings histories can make waiting
until age 70 a suboptimal strategy. Delaying is going to be better than claiming
a significantly reduced benefit at age 62, but the earlier collection of the
full benefits will pay off in the end — unless one member of the couple lives a
long time. (John Manganaro, Senior Reporter, ThinkAdvisor, 03/19/2024)

Read more

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TAX PLANNING

ED SLOTT: 7 RMD, IRA AND ESTATE PLANNING POINTS FOR 2024

The simple truth is that the issues that come into play when financial advisors
and their clients are working to achieve tax optimization in the retirement
income planning process are monumentally complex. Slott said the confusion is
understandable because the calculation and timing of RMD has been something of a
nightmare in the past few years thanks to repeated changes in the law and the
publication of interim interpretive regulations. (John Manganaro, Senior
Reporter, ThinkAdvisor, 03/12/2024)

Read more

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PRACTICE MANAGEMENT

5 TOP LEAD-GENERATION STRATEGIES FOR 2024

Yes, advisors who want to market well need a well-designed website, an engaging
social presence and responsive communications. But those things are just the
beginning. Standing out means doing more. (Susan Theder, Chief Marketing and
Experience Officer, FMG Suite, 03/01/2024)

Read more

   

FINRA REGULATORY NOTICE 23-20: REGULATION BEST INTEREST

This Notice discusses the guidance and other resources available to assist
members with their compliance efforts in connection with the Securities and
Exchange Commission’s (SEC) Regulation Best Interest (Reg BI). FINRA highlights
the SEC’s series of Staff Bulletins (Bulletins) reiterating standards of conduct
for broker-dealers (BDs or members) and investment advisers (IAs): (FINRA,
12/05/2023)

Read notice


Staff Bulletins:

 * Standards of Conduct for Broker-Dealers and Investment Advisors Account
   Recommendations for Retail Investors
 * Standards of Conflict for Broker Dealers and Investment Advisers Conflict of
   Interest
 * Standards of Conduct for Broker-Dealers and Investment Advisers Care
   Obligations

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ASSUMED FEDERAL RATES (AFRS)

 


§7520 RATE FOR APRIL IS: 5.20%

 

irs.gov

 

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ADVISOR TOOLS

 


FREE 2024 FEDERAL INCOME TAX AND
SOCIAL SECURITY & MEDICARE REFERENCE GUIDES

Our free Federal Income Tax and Social Security & Medicare Reference guides are
indispensable resources. The Federal Income Tax Guide keeps you updated on tax
rates and regulations, ensuring you provide your clients with the latest
insights. Meanwhile, the Social Security & Medicare Reference Guide equips you
with comprehensive information to navigate these critical topics, enhancing your
advisory services and benefiting your clients’ financial well-being. (No
business or personal information required for download.)

 

Download tax guide Download reference guide

 

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FINANCIAL / INSURANCE CALCULATORS & WEBSITES

A COMPREHENSIVE LIST OF ONLINE FINANCIAL AND INSURANCE TOOLS AND INFORMATION.

Discover a wealth of online calculators and informational websites tailored to
your needs. Our extensive resources cover essential areas such as financial
planning, retirement calculations, investment analysis, and insurance needs
assessment, empowering you to provide comprehensive guidance and services to
your clients.

 

Explore list

 

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STATE REQUIREMENT UPDATES

 


STAY UP-TO-DATE ON YOUR
STATE INSURANCE CE REQUIREMENTS

Easily access vital information about state insurance license renewal dates,
continuing education (CE) requirements, and more by visiting our State
Requirements page. Stay informed and streamline your compliance process with
this valuable resource.

 

View updates here

 

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FEATURED COURSE

 


LIFE INSURANCE, ANNUITY AND ETHICAL PRACTICES

Meet Your CE Requirements

This course will provide a review of the historical evolution of life insurance
and into the 21st century, examining its many forms, other types of benefits,
and making it the foundation for financial planning. Also included is a guide to
understanding annuities, annuity tax laws and contract structure, and their
suitability. The course ends with ethical practices which will provide the
essentials of ethics, market conduct and compliance.

Includes up to 24 CE credit hours of State Insurance and up to 4 CE credit hours
of Annuity and/or Ethics.

12 CE credit hours of IAR, 10 CE credit hours of CFP® and 10 CE credit hours of
IWI (CIMA®/CPWA®/RMA®) are also available.

 

Order course today

 

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B.E.S.T. CE PROGRAMS

 


TAKE OUR ONLINE COURSES AT YOUR OWN PACE AND
TAKE ADVANTAGE OF AFFORDABLE PRICES

As a nationally approved provider by the State Insurance and CFP / IWI Boards,
we offer courses that cover a wide range of topics relevant to your practice.
Enroll in our online CE courses and reap the benefits of:

 * Convenience: You can take our courses from anywhere, at any time.
 * Affordable pricing: Prices start at $13.95.
 * High-Quality: Created by a top-notch expert in the financial planning field.
 * Up-to-Date Course Content: We regularly update our courses to ensure that
   you’re learning from the most current information.

Start learning today! Click on the button below to learn more about our online
CE courses.

 

Order online CE courses

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MEET YOUR 2-HOUR CFP® ETHICS REQUIREMENT

Also approved for 2 CE credit hours of IWI (CIMA®/CPWA®/RMA®) & IAR Ethics.

Date: Thursday, April 18, 2024  |  Time: 2:00PM - 4:00PM ET  |  Cost: See below*

2-hour live webinar presentation: Ethic CE CFP Boards Revised Code and Standards
Ethics for CFP Professionals (Course#: 277681) - No exam required.

This webinar is approved by the Certified Financial Planner Board of Standards,
Inc. and fulfills the requirement for CFP Board approved Ethics CE. It is
designed to educate CFP® professionals on CFP Board’s new Code of Ethics and
Standards of Conduct. This webinar presentation does NOT include state insurance
CE credit.

*Cost per license type:

 * CFP® credit ONLY: $61.50
 * IWI credit ONLY: $59.00
 * IAR credit ONLY: $65.00
 * CFP® credit PLUS IWI credit: $86.50

 * CFP® credit PLUS IAR credit: $92.50
 * IWI credit PLUS IAR credit: $90.00
 * CFP® credit PLUS IWI credit PLUS IAR credit: $117.50

Registering involves three individual web pages and you will either be
automatically directed
to each of the following pages or a separate window will open for each page. See
below.


Registering includes the following three web pages:

 1. Payment page: Enter your payment information. A detailed breakdown of costs
    and fees will appear before you confirm your payment.
 2. Attendee Registration form page: Fill out the Attendee Registration form to
    provide your contact details and any other information necessary to receive
    your CE credit.
 3. GoToWebinar Registration page: Enter your First Name, Last Name and Email
    Address, then click the ‘Register’ button to complete registration for the
    live webinar.


NOTE: Do not close any of your web pages / browsers
until you are completely done registering. (SEE ABOVE.)

 

Register for webinar today!

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START FULFILLING YOUR 12-HOUR IAR
CE REQUIREMENTS ONLINE TODAY!

Meet NASAA’s latest Investment Adviser Representative (IAR) CE model rule
requirements effortlessly by enrolling in our premium IAR CE courses at B.E.S.T.
Our extensive online CE course catalog offers a diverse range of topics tailored
to help you meet your IAR CE credit requirements. Plus, with our commitment to
efficiency, we guarantee to report your credit hour(s) to FINRA within just two
(2) business days. Elevate your career prospects today. Discover our courses and
make a wise investment in your future with B.E.S.T. All CE courses currently
available are listed below.


12 CE Credit Hour Split CE Courses
6 CE credit hours of Products and Practices / 6 CE credit hours of Ethics and
Professional Responsibility each course.

 * Life Insurance, Annuity and Ethical Practices
 * Small Business Retirement Plans and Ethical Practices
 * The Advisors Guide to Annuities and Ethical Practices


Products and Practices CE Credit Courses

 * Estate Planning: 6 CE credit hours
 * The Advisors Guide to IRAs: 6 CE credit hours
 * The Advisors Guide to Social Insurance Programs: 6 CE credit hours


Ethics and Professional Responsibility CE Credit Courses (online or webinar)

 * Ethics CE CFP Boards Revised Code and Standards: 2 CE credit hours
 * CFP® Ethics Live Webinar Presentation: 2 CE credit hours (no exam)


*Additional fee includes IAR’s governing board filing fee of $3.00 per credit
hour/per student. If you add CFP CE credits, there is also an additional CFP
Board fee of $1.25 per credit hour/per student.


Note: IAR CE credits are only available for states that have adopted the NASAA
Model Regulations.

 

Order IAR CE courses here!   Learn more

   

CFP®: This webinar is approved by the Certified Financial Planner Board of
Standards, Inc. and fulfills the requirement for CFP Board approved Ethics CE.
Certified Financial Planner Board of Standards Inc. owns the certification marks
CFP®, CERTIFIED FINANCIAL PLANNER™, CFP®, and CFP® in the U.S., which it awards
to individuals who successfully complete CFP Board’s initial and ongoing
certification requirements.

IWI: Investments & Wealth Institute® (IWI) has accepted this CFP® Ethics webinar
for 2 hours of CE credit towards the IWI certifications. (CIMA®, CPWA® and RMA®)

Disclaimer: “NASAA does not endorse any particular provider of CE courses. The
content of the course and any views expressed are my/our own and do not
necessarily reflect the views of NASAA or any of its member jurisdictions.”

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DISCLAIMER

 

Unauthorized reproductions of Advisor News Insight newsletter are strictly
prohibited. However, you are permitted to forward this newsletter (in its
entirety) to colleagues via email. Under no circumstances should this newsletter
be posted on any website without prior written consent from Broker Educational
Sales & Training, Inc. (B.E.S.T.).

Please note that this newsletter comprises information gathered from various
web-based sources, and B.E.S.T. does not assert authorship of the material
unless explicitly mentioned. The articles contained herein are copyrighted by
their respective publishers. While we have taken measures to verify the
functionality of all included links, we cannot guarantee their continuous
operation, as publishers may relocate or remove content.

It is important to understand that B.E.S.T. neither endorses nor assumes any
responsibility or liability for the accuracy, content, completeness, legality,
or reliability of the material linked to in this newsletter. The opinions
expressed within this newsletter belong solely to the author and do not
necessarily represent the viewpoints of B.E.S.T.

Readers are strongly encouraged to rely on the information provided herein ONLY
AFTER conducting their independent review of its accuracy, completeness,
effectiveness, and timeliness.


THIS NEWSLETTER SERVES SOLELY FOR INFORMATIONAL PURPOSES AND DOES NOT CONSTITUTE
INVESTMENT, TAX, ACCOUNTING, OR LEGAL ADVICE.

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B.E.S.T. INFORMATION / SERVICES

 


COMPREHENSIVE LIST OF ONLINE FINANCE AND
INSURANCE TOOLS & INFORMATION

 

Website

 

Super CE

 

State Insurance CE

               

CFP / IWI CE

 

Book a Speaker

 

(800) 345-5669

 

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RESOURCES

Access a robust suite of resources at your fingertips, encompassing calculators,
informative websites, quick-reference guides for taxes, Social Security, and
Medicare, as well as monthly newsletters and recorded webinars. Gain a wealth of
knowledge and stay up-to-date with ease through our comprehensive offerings.

 

Access resources here

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