Take Your Wealth Management Strategies to
New Heights
Family Wealth Education and Governance
Ensuring the longevity and prosperity of family wealth involves more than just financial planning—it requires a strategic approach to educating future generations. Discover effective strategies for imparting essential financial management skills to heirs, establishing robust family governance frameworks, and fostering a culture of financial literacy. Learn how these practices can empower your family to preserve and grow its wealth responsibly, fostering unity and stewardship for generations to come.
Nurturing Financial Literacy: Spotlighting Chris Harris
Discover how Chris Harris, Chair of the Finance Department at Elon University and Financial Advisor at Strategic Advisory Partners, is empowering communities through financial literacy education. Explore his innovative approach to personal finance and learn how his passion for financial wellness extends beyond traditional wealth management.
Game-Changer for Federal Student Loan Repayment
The SAVE Plan, short for Saving on a Valuable Education, is a game-changer for federal student loan repayment, offering relief to borrowers burdened by student debt. Replacing the REPAYE Plan, the SAVE Plan calculates monthly payments based on a smaller portion of borrowers’ income, resulting in lower payments for most borrowers. With benefits like interest coverage and early forgiveness opportunities, including halved undergraduate loan payments, the SAVE Plan provides a path to financial freedom. Applying is straightforward, and most federal student loans are eligible, making it easier than ever to ease the strain of student debt and secure a brighter financial future.
The Great Wealth Transfer
Get ready for the monumental impact of the Great Wealth Transfer, with a staggering $84 trillion set to shift from Baby Boomers to younger generations over the next two decades. In this blog, we explore essential wealth management strategies such as estate planning, financial education, and tax-efficient investing. Our goal is to ensure that this historic transfer of wealth not only secures financial stability but also promotes wealth accumulation for Gen X and Millennials.
Fiduciary Bingo — A Simple Guide For Employers
Discover the complexities of fiduciary roles in retirement planning, tailored for business owners. From the oversight responsibilities of 3(16) administrators to the investment guidance provided by 3(21) advisors and the risk management handled by 3(38) managers, we delve into the intricacies of each role. Gain clarity on the fiduciary duties that impact your retirement plan and learn how to navigate these complexities effectively to safeguard your employees’ financial future.
Corporate Transparency Act of 2024
The Corporate Transparency Act (CTA), effective from January 1, 2024, introduced by the Financial Crimes Enforcement Network (FinCEN), imposes reporting requirements on business entities regarding their beneficial owners. This comprehensive guide outlines key aspects of the CTA, including its purpose, affected entities, reporting requirements, deadlines, information to be reported, penalties for non-compliance, and filing procedures. It emphasizes the importance of compliance to avoid legal repercussions and maintain trust and credibility among stakeholders. For personalized guidance and support in navigating these regulatory obligations, business owners are encouraged to consult with Strategic Advisory Partners. Stay informed, stay compliant, and safeguard your company’s reputation in today’s regulated business landscape.
Striking the Right Balance
Discover the importance of portfolio diversification and learn how to strike the right balance in your investments. This blog explores the fundamentals of diversification, highlighting its role in managing risk and mitigating losses. Understand the signs of under-diversification, such as high concentration in a single asset, and the pitfalls of over-diversification, like excessive holdings and minimal performance deviation. By evaluating your asset classes, industry sectors, geographic regions, company sizes, and investment styles, you can determine if your portfolio is diversified enough to meet your financial goals. Achieving the right level of diversification is crucial for long-term financial security and peace of mind.
Biden’s Proposed Tax Policy Changes
Explore the potential impact of proposed tax policy changes under the Biden administration. From inheritance taxes to capital gains and corporate taxes, learn how these adjustments could affect your financial future and estate planning strategies. Stay informed and prepare with insights from our comprehensive guide.
Navigating Generational Wealth:
Unlock the secrets to preserving and passing on generational wealth in our latest blog. We explore the top challenges faced by affluent families, from the lack of transparency to family conflicts and financial education gaps. Discover the power of clear communication, involving children in planning, and addressing financial knowledge disparities as we provide insights to help you navigate the intricate path of generational wealth management. Join us on this journey to ensure your legacy endures and thrives for generations to come.
