It's tax time and, even if you do not have a single client who is compensated with stock, you better be able to speak with prospects about equity compensation, restricted stock and stock options.
If you're a fiduciary managing other people's money, you need to be familiar with this topic. You don't need to be fluent, but you ought to know enough to have an intelligent conversation. Why?
If you're at a cocktail party, you could find yourself talking to a senior manager at a publicly held company, or the seventh employee at a company with 100 employees today, and you better know what to tell that person when asked for advice about equity comp over a single malt scotch. This stuff happens if you're alive and engaged with the people around you! It's life! I've been doing it for nearly 60 years.
To be prepared for this kind of thing, budget $1000 a year to personal improvement and professional education. Personal improvement ideas, I will come back to later. For now, however, sign up for Bruce Brumberg's MyStockOptions.com for some professoinal education.
Brumberg knows equity compensation as well as the best experts and has built a great service. Advisors should sign up for his service.
There's nothing in it for me -- although if Bruce wants to give A4A members a discount code, I'd pass it on to A4A members (and update this post with that info).
Bruce did not pay attention when I mentioned I would be recording this tour of mystockoptions.com, and he was pretty nonchalant. But you can follow it and I know Bruce will be an excellent presenter at a webinar Friday, February 13, 2015 at 4 ET, entitled, Tax Reporting On Incentive Compensation Earned In 2014.