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Our New Year Initiatives
New Year, New us. Or so the saying goes. Part of turning the page to the year ahead is to look back at how we did over the last 12 months and set goals on what we’d like to accomplish over the next 12. For us, it is an exercise that couldn’t be of higher importance. We are on a constant mission to improve our services and client outcomes. Beyond our significant regular efforts, here’s what we are up to in 2020:
Two weeks prior to the end of the year, the first curveball was thrown our way. The most significant piece of retirement legislation since 2006 was passed, changing some longstanding rules for retirees. We have written about the SECURE Act in a separate post and would encourage you to read it and get up to date. You can expect us to bring it up with you in our annual review as it will influence just about everyone to varying degrees. We’re on a mission to make sure your planning stays up to date and we make any necessary moves on your behalf as a result of this new legislation.
Another initiative this year is a focus on beneficiaries. While we will never get in the business of giving legal advice, there is a major difference between the methods of distribution per capita and per stirpes. Having the wrong one picked can lead to some unintended beneficiary consequences should one of your beneficiary’s pre-deceases you. This is certainly on the list of things to review with you in 2020, as we want to make sure any assets going to your heirs is set up correctly. We’ll also be discussing the new provisions of the SECURE Act and how they affect your beneficiaries.
Possibly the biggest item we’ve been working on over the last few months is on our actual financial review document. Based on many of our client’s feedback, you want to know “how you’re doing”. This means more than just simply your performance. We want you to know how much you have invested with us, how much you have taken out, and what the net results are. We also want to make sure we can have all your planning items up to date and to review any other moves we could be making. Existing monthly and quarterly statements don’t do a great job of painting that picture, so you have told us. We have hired an outside IBM programmer to help us generate these reports on the spot, so when you come to our office, we can hopefully give you an up to date sense of “how you’re doing” quickly and cleanly. Because of the many disclosures and rules of our industry on creating these reports, along with the plethora of data, it has been a herculean effort to compile thus far. Our mission remains clear, to help you understand what is going on, and to make it easier to understand the basis for our advice and positioning.
There are several things going on here behind the scenes in our regular team meetings, frequently discussing what and how we can improve in working with you. We had a great 2019 and look forward to a successful 2020. Just because we turned the page to a New Year doesn’t mean that effort will stop. We’re on a mission to better serve you, and like anyone our New Years goals are ambitious. We wish you the best with your New Years resolutions and what 2020 has in store for all of us.
The views are those of Robert Jeter CFP ®, CRPC and Eric Johnston, CFP and should not be construed as specific investment or financial planning advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. You should consult your tax or legal advisor for advice on your specific situation.
Investments in securities do not offer a fixed rate of return. Principal, yield and/or share price will fluctuate with changes in market conditions and, when sold or redeemed, you may receive more or less than originally invested. No system or financial planning strategy can guarantee future results.
Investment Advisor Representative offering securities and advisory services offered through Cetera Advisors LLC, member FINRA/SIPC, a broker dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. 327 Tilghman Rd., Suite 100, Salisbury, MD 21804.