April 21, 2021
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The For the 99.5 Percent Act proposed by Democrats in Congress would make significant changes to estate and gift tax laws, attorneys David Handler and Alison Lothes write. The bill would reduce the estate and generation-skipping tax exclusions to $3.5 million, and it would lower the gift tax exclusion to $1 million.
Full Story: WealthManagement (4/20) 
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Policy Watch
A bill that would require the Securities and Exchange Commission to request investor data on a case-by-case basis for the consolidated audit trail has been introduced in the Senate.
Full Story: Pensions & Investments (free access for SmartBrief readers) (4/20) 
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Federal Reserve Chair Jerome Powell says that he expects a moderate inflation increase this year but that the Fed is monitoring the situation and is committed to maintaining control. "We do not seek inflation that substantially exceeds 2 percent, nor do we seek inflation above 2 percent for a prolonged period," Powell says in a letter to Sen. Rick Scott, R-Fla., who has voiced concern about a rise in inflation.
Full Story: Reuters (4/20) 
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Set Your Firm Up for Success by #DoingTheWork
FSI invites you to this complimentary workshop sponsored by Fidelity Investments. Whether an expert in the DE&I space or just starting out, Lazetta Rainey Braxton will share her expertise to lead your business on a continued journey of belonging. Register today!
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Building Your Business
Firms should focus on treating people as individuals and nurture their unique talents and intelligence, rather than trying to treat everyone equally, writes consultant Jon Henschen. He highlights five changes managers can make to allow employees to take advantage of their own strengths and potentially increase their contributions to the company.
Full Story: Financial Advisor (4/13) 
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For Your Clients
Some tax deductions aren't worth taking advantage of and could cost clients money, writes financial advisor Rick Kahler. These include carrying a mortgage for the interest deduction and turning down income to avoid a higher tax bracket.
Full Story: Advisor Perspectives (4/13) 
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Retirement Focus
Just because the Setting Every Community Up for Retirement Enhancement Act eliminated restrictions on people contributing to a traditional IRA after age 70½ doesn't necessarily mean they should. This article looks at potential issues for advisors and clients to consider.
Full Story: ThinkAdvisor (free registration) (4/15) 
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FSI Member News & Events
Healthcare for Individual Advisors is Here!
The Financial Services Institute is offering individual financial advisors access to major medical health insurance plans with no need to enroll in a group in all 50 states! Get savings of up to 50% versus the open market with HSA-eligible plans. Get instant rates.
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If you are sure you understand everything that is going on, you are hopelessly confused.
Walter Mondale,
politician, lawyer, 42nd vice president of the United States
1928-2021
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About FSI
FSI was formed in January 2004 as an advocacy and membership organization for independent financial services firms and independent financial advisors. We provide insight, information, influence, and involvement--all in support of our mission to provide visibility, credibility, and an improved regulatory environment for the independent channel. Learn more at financialservices.org
 
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