Vol. 1   Issue 4 - November 2009  -  www.cannonfinancial.com

Practice Management - Defining your Ideal Client

Knowing the types of clients you serve best is important for several reasons. It allows you to segment your existing client base and focus your time and energy on those clients who generate the most revenue currently, offer even greater revenue potential, and provide psychic satisfaction. It’s also important for obtaining introductions and referrals to new prospects and clients.
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Planning Ideas - Conversion to a Roth IRA

We’re not finished with 2009 yet, but top advisors are already focusing on 2010. The reason is that tax law changes with potentially significant implications loom in the not-so-distant future. One of those changes concerns rollovers to Roth IRAs.

Consider this an opportunity to be proactive. Take the discussion to your clients instead of waiting until they ask, “is a Roth IRA right for me?” Read More.

Behavioral Advice - Advisor, Heal Thyself

Aligning your values with your actions reduces stress and enables you to make better financial decisions for your clients.

Feeling stressed? You’re not alone. According to the Lennick Aberman Group, a leader in behavioral advice services, 60 percent of advisors are feeling at least slightly elevated levels of stress. Of the 611 advisors responding to a stress survey in April 2009, 19 percent report a “more elevated” level of stress and almost one-quarter report that they are “not coping well” with stress. Read More.

Regulation & Compliance - Insider Trading

By now, everyone’s heard about the Security and Exchange Commission’s (SEC) criminal allegations against Raf Rajaratnam, his Galleon hedge funds, and executives at several major American firms. Aside from the spectacle of so many so high being brought so low, the case, even at this embryonic stage, is instructive for a number of reasons including the precise nature of the charges, the relief sought, the manner in which the evidence against the defendants was collected, and the likely implications for the hedge fund industry. Read More.

Taxes - Whither Transfer Taxes

Big changes are on the horizon for the transfer tax in 2010. The problem is no one knows exactly what will happen. Here’s a rundown of what we do know along with an overview of the various proposals.

2010 Estate and GST Tax Repeal

Under current law, as enacted by the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA), Congress increased transfer tax exemptions and dropped rates.
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