Many firms struggle with calculating Required Minimum Distributions (RMDs) using spreadsheets or, worse, a financial calculator. Of course, when participants are alive and taking RMDs, the calculations are simple. But even that situation is slightly compounded by the new 2022 longevity tables. Some advisors we have spoken with did not realize the tables had changed.

​When a spouse inherits a Roth IRA from a decedent spouse, there are two options to acquire the asset and manage the Required Minimum Distributions (RMDs).

Clients can be segmented by assigning multiple services on the client services screen. Once services are assigned to clients, groups may be created to focus on those receiving a specific service, such as Required Minimum Distributions (RMDs).

​When it comes to Required Minimum Distributions (RMDs), a client’s relatives play a significant role when retirement account beneficiaries are established.

Addresses and telephone numbers stored in client relationship management (CRM) software should be capable of meeting a variety of the firm’s communication needs. For example, envelopes should be printable directly from the CRM. 
In ProTracker Advantage, right-clicking on an address provides an extensive menu of capabilities, including

​A robust client relationship manager (CRM) is essential to harness data for effective prospect and client communications. Recording every contact interaction facilitates prompt responses to customer questions and client queries. In successful firms, the mantra is, “If it is not in the contact manager, then it didn’t happen.”

Providing consistent client support is always a challenge, especially when clients are segmented according to their needs. ProTracker Advantage provides financial advisors with a robust workflow management capability.

​We have been getting calls regarding the announced retirement of Junxure CRM. Junxure was acquired by AdvisorEngine several years ago. Franklin Templeton has since acquired AdvisorEngine. Other client relationship management (CRM) software products have suffered similar fates.

​When the SECURE Act (2019) altered the retirement rules, investment advisors became burdened with managing the new 10-Year Rule. Under this rule, account custodians must distribute the total amount of the retirement account to the inheritor within ten years. During the 10-year period, clients need to be apprised of the remaining years left within the 10-year period.

​Under IRS Publication 590-B, three longevity tables are used for Required Minimum Distributions (RMDs): the Uniform Lifetime Table, the Single Life Expectancy Table, and the Joint and Last Survivor Expectancy Table. The factors in these tables are technically called Applicable Distribution Periods (ADPs).