LIMELIGHT

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Michelle Francis, Bill Nelson, John Pak: “How advisors can help clients plan financially for weddings,” FinancialPlanning, Sept. 6. Francis says, “A honeymoon can be expensive but is a great way to start a new life together and create lasting memories as newlyweds. I recommend that instead of asking for gifts, couples ask for donations to a honeymoon fund.” Nelson says, “The optimal approach would be to find an account structure that is most in alignment with their financial values and attitudes. … It gives them no-questions-asked spending money to manage on their own in a way that doesn’t take away from their family’s shared financial goals.” Pak says, “Married couples must be mindful of hidden expenses, especially in community property states. If you reside in one of the nine community property states, the debt is shared.”

Maureen Demers, Ben Henry-Moreland: “The Solo Adviser,” Journal of Financial Planning, September. Demers says, “I don’t like putting myself out there. On the flip side, as a business owner, I am my business. I am the face of my business, and if I don’t expose myself to potential clients, people in the industry, it may be really hard to get traction.” Henry-Moreland says, “I still really like the experience of having a solo firm, and I think there are ways to stay a solo firm now that weren’t [available] in the past, where you can outsource some of these services like paraplanning, some customer support, or virtual assistant kind of services.”

Jennifer Macedo: “How advisors can respond to the fires on Maui and prep clients for disasters,” FinancialPlanning, Aug. 31. Macedo says, “I’ve asked all of my other clients that are off-island to be patient and allow space for me to solely work with not only healing myself and my family, as we were directly impacted, but helping the community and clients in the area, too.”

Noah Damsky: “Americans Are Bailing on Their Home Insurance,” The Wall Street Journal, Aug. 28. Damsky says, “It is a risky proposition to go without home insurance, and you need to fully understand the financial consequences if you lose your home.”

Kimberly Foss: “Finding the Right Merger Partner,” Rethinking65, Aug. 28. Foss says, “Using the matrimonial analogy, I decided early that if I was going to ‘get married,’ I was going to marry up. In other words, I wanted to form my alliance with a partner who could offer my clients additional services, conveniences and other benefits that they weren’t presently receiving.”

Bridget Grimes: “How Ageism Has Impacted Me and My Clients,” Rethinking65, Aug. 23. Grimes says, “As financial planners we should focus on making sure our professional women have a financial plan in place that addresses the challenge of ageism. Many women ages 50 and older are being pushed out of their professions, often fueled by ‘lookism.’ We need to make sure our female and male clients have a plan in place to weather a financial storm should they suddenly find themselves unemployed or underemployed.”

Luis Rosa: “Building Bridges, Building Futures: Luis Rosa’s Impact on Financial Wellness,” Advisors Unscripted, July 3. Rosa says, “I want to help from two ways, right? So one was the On my Way to Wealth podcast so I’m teaching the general public that perhaps doesn’t know what a financial advisor does and then I’m also helping more of those people into the industry as well via the BLX Internship Program so hitting it from both angles.”