November 2023

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November 2023

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INSIDE THIS ISSUE

RETIREMENT PLANNING

Preparing Your Clients for Happiness in Retirement
By Adam Felts
Conversations between financial advisors and clients about retirement tend to focus on money. However, advisors should engage more broadly with clients about preparing for longevity. There’s a simple yet powerful question advisors can ask to help clients imagine their lives in retirement.

RETIREMENT PLANNING

Using Medicare Open Enrollment to Strengthen Advisor-Client Relationships and Create More Comprehensive Financial Plans
By Christine Simone
Medicare open enrollment—the period when Medicare enrollees can make changes to their coverage—offers an opportunity to ensure clients get their ideal coverage at a price they can afford. It also gives financial advisors an opportunity to create a stronger financial plan.

RETIREMENT PLANNING

Help Aging Clients Discuss Their Priorities
By Liz Miller
Financial plans can’t reflect the critical discussions clients need to have with each other and their families to ensure their lifestyle experiences follow their vision. Consider three questions advisors should ask clients to initiate these important discussions.

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FEATURES

TAXES

Attaining Tax Control through Tax Diversification
By Steven Sweeney
Now more than ever, investors and their advisors should look for opportunities in the current tax environment that may provide tax relief in the future. The current tax regime is relatively favorable, but it could soon change because many advantageous provisions are scheduled to sunset at the end of 2025.

NAPFA’S 40TH ANNIVERSARY

The Women’s Initiative in NAPFA’s History
By Susan Weiner
This article is one in a series of articles on initiatives that have helped engage members more deeply in NAPFA. This month, we look at the Women’s Initiative.

NAPFA FALL CONFERENCE

NAPFA Fall Conference Keynotes Discuss Economic Outlook, AI, Fintech
By Susan Weiner
The old-fashioned, with local bourbon as its main ingredient, is the signature cocktail of Louisville. However, the comments of keynote speakers at the NAPFA Fall Conference in Louisville, KY, were forward-looking, not old-fashioned.

PRACTICAL OBSERVATIONS

An Intergenerational Perspective on Working in Financial Planning
By Yonhee Choi Gordon
One of the great benefits of financial planning’s maturity is the growing generational diversity of our professionals. In fact, firms need a healthy mix of generational diversity and a shared drive among their staff in order to effectively serve and thrive.

EFFICIENT PLANNER

The Role of Taxes in Your Practice
By Linda Leitz
Many financial planners may feel that tax is an area they’d prefer to avoid. But tax is part of integrated financial planning, and each of us needs to incorporate it into our practice to some level.

NAPFA’S 40TH ANNIVERSARY

NAPFA’s Third Decade
By Susan Weiner
A past chair of NAPFA shares his recollections of the association’s third decade, 2003–2012. See the timeline for more highlights.