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Issue: #491
April 7, 2025 |
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“So many books, so little time.” |
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Greetings,
Welcome to this week's Advisor Training newsletter. Our goal is to provide training, education and insights for those who adhere to our counter-cultural and sometimes counter-intuitive investment and business philosophy. |
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Main event: Nick's $8,500 talk about Market. Do You Need That?
- 17 Tips that Guarantee Success #5: 50-50-50
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Brief summary of Epiphany #14: It's the Investor, Stupid.
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Review of last week's quiz
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Updates, News and Announcements
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and much more...
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"What about the current market downturn and the tariffs?" |
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We find ourselves today at a rare moment of perfect uncertainty. Nothing is harder for our clients to deal with. Nothing is more likely to impel them to make The Big Mistake.
But in fact, almost exactly five years ago, we dealt successfully with an episode even more terrifying – indeed, a global crisis of life and death.
Investors who held their course came through that existential moment to great profit…as they surely will again now.
Please recognize that tremendous opportunities are always – repeat always – born out of total chaos.
Three things to help clients not make The Big Mistake:
- Clients are a reflection of you. If you're stressed, then they'll be stressed. If you're calm and unfazed, then they'll be the same.
- This too shall pass. And if it doesn't it won't matter anyway.
- When the market is down, there are only three options:
- Sell your shares.
- Do nothing.
- Buy more shares.
One of the above is the wrong answer. Two of them are good answers. One of them is the superior answer. |
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#15 ― Nick Murray Interactive Newsletter |
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Read the monthly Nick Murray Interactive Advisor Newsletter (NMI).
This is the best training for professional Advisors. Read it, absorb it, and make notes for yourself. Pay special attention to counter-cultural investment principles, phraseology, aphorisms, and turns-of-phrase. |
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Never Eat Alone by Keith Ferrazzi
The secret is in reaching out to other people. What distinguishes highly successful people from everyone else is the way they use the power of relationships. |
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#15 ― Advisor Succession Plan |
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“Just because you’ve begun down one path doesn’t mean you’re committed to it forever, especially if that path turns out to be flawed or impeded.” |
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One of the most important things you can do for your business is have a succession plan in-place in case of your demise or incapacity to conduct business - just as we advise our clients to get term life insurance.
This should be easier than it actually is. At my previous B/D, in which I was a founding partner, I spent
years (almost a decade) trying to get a ownership & succession plan in-place for our Advisors, but to no avail. At IP got it established in two days!
It's a one-page DocuSign, no lawyers required, written in English and easy to understand. IP truly has an Advisor-First philosophy. |
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If a client is Married but Filing Separately what are the income limits to qualify for a Roth IRA? |
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- Same as if filing single.
- Same as if filing joint.
- Must earn less than $10,000 to have a Roth.
- They cannot contribute to a Roth at all.
- Only the spouse with the highest incomes can have Roth IRA.
- Only the spouse with the lowest incomes can have Roth IRA.
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Michael Paulding Thomas
Securities Principal & Advisor Development
Over three decades of training part-time and full-time financial advisors. Developed 2 $200k-earners, 10 $100k-earners, 15 part-time $50k-earners and built a $1.6M revenue sales force.
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