The Shape Of The Recovery; Fritz Meyer, November 2020

Fritz Meyer
11/10/20 4 PM EST
Live CPA
Program Id: 145569131

Fritz Meyer Economic Updates: Professional Versus Consumer Versions
Fritz Meyer's update on the right covers the latest twist in the housing data, September 0.7% increase in the LEI, and the consensus forecasts through mid-2022 in seven-minutes.  The last two minutes of the video shows the consumer version for advisor clients. 

Because Fritz has educated advisors on economics for about 20 years, his updates are very concise. But they're not concise enough for clients. 

To retain clients and keep them on a financial plan, advisors must continually offer remind clients to keep them on course. That is especially true during a pivotal week like this, with U.S. tax, economic, and Covid-crisis policy riding on the election.  

The seven-minute version of Fritz's update distills the crucial facts a financial professional needs to know right now, but the two-minute version that follows boils down the current outloook to a simple message. 

Financial fiduciaries are information gatekeepers, but the pace of news and nature of the information makes streaming strategic wealth management content on a continual basis extrmeely difficult for RIAs. Which is why we create a consumer version of thought leadership CE classes on A4A. 

Free consultation about how to use our platform in your RIA  
     

November 2020 Class Description

For financial fiduciaries, this class covers one of the most pivotal points in years. The shape of the recovery is now in clear focus. The "V" came me and went. Now what?

With the Covid and election resolving, the fundamentals are clearer. So is how long it will take to return to the $19.3 trillion GDP of 2019 and when the U.S. might achieve full employment again.

At this class for CFA®, CIMA®, CPA and CFP® professionals, Fritz Meyer, an independent economist not affiliated with any financial products, reviews:

• the election's likely policy and financial implications  
• Update on CARES Act 2
• the pace of deceleration in GDP expected
• unemployment rate and news jobs creation in October
• ISM purchasing managers survey for October
• newly released DPI and consumer spending data
• latest LEI 
• is the housing comeback still as a strong   
• consensus forecasts
• why a jobs recovery is years off
• household balance sheets 
• S&P expected earnings and currently valuation
• latest FAANGM valuations  
• Latest Fed pronouncements  
• 0% rates as far as the eye can see
 

Skip RMDs And Convert To A Roth
The unprecedented election to skip RMDs by the end of the year, along with a conversion to a Roth IRA account, could stretch IRA accounts for clients. 

Advisors should be telling their retirement income clients about this year-end tax tip right now. However, it is a complex two step process since it involves the one-time CARES RMD provision and also a conversion to a Roth IRA. So you likely will not see this written in advisor email newsletters or blogs. Here's a video that tells clients the basics in about a minute. 

 

RIAs Must Keep Wealth Management Priorities In Perspective


Perhaps the most important job of an advisor is as a financial "choice decider." You set the agenda for clients, prioritizing what they could and should do to build their wealth.

As the financial choice decider, it’s important to tell clients that the best choice they could make right now is to pay attention to tax planning, amid the stock market’s attention-grabbing gyrations. 

The video on the right puts financial professionals in the role of choice decider in the current financial economic and tax situation. 


More than 50 hours of CFP® CE credit and more than 100 hours of Investments & Wealth Institute® credit on replays available 24/7 to paying members ($120 annually) of
Advisors4Advisors.com. CPAs are eligible to receive CPE for attending live webinars only. To learn how to receive continuing professional education credit viewing webinar replays, please see our detailed instructions.

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