The Perfect RIA

Dodging IRA Disasters and Fostering Team Synergy

Jul 26, 2024

Guests Steven Jarvis, CPA and Jamie provide insights on avoiding IRA mistakes, tax planning, and fostering team communication. Topics include handling rollovers, understanding the 60-day rule, delegating tasks effectively, and establishing clear communication policies within a practice.

08:29

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Episode guests

Steven Jarvis

Jamie

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Quick takeaways

Avoid common IRA mistakes by ensuring accurate tasks and documenting financial movements thoroughly.

Prioritize task delegation, clear communication policies, and consistent follow-up for team productivity and success.

Deep dives

Common Mistakes with IRA Accounts

One of the key insights discussed in the podcast revolved around common mistakes made with IRA accounts that advisors need to avoid. Matt and Steven emphasized the importance of ensuring basic tasks are done correctly and not assuming things will happen automatically. They highlighted examples such as rollovers and the 60-day rule, stressing the need for rock-solid documentation to prevent errors. Additionally, they mentioned the significance of verifying all financial movements on tax returns to avoid irreversible situations for clients.

Navigating IRA Mistakes, Tax Planning Strategies, and Team Communication

8min

In this recap episode, Amber shares the highlights and action items from this week. On Monday, Matt and Steven Jarvis, CPA discussed common IRA mistakes and tax planning strategies. They emphasized the importance of careful handling of rollovers, understanding the 60-day rule, and annual review of clients' tax returns. On Thursday, Jamie focused on communication strategies for financial advisors. She highlighted the importance of delegating tasks effectively, prioritizing high-value activities, and establishing clear communication policies within a practice. Jamie emphasized creating an environment where team members can comfortably follow up on tasks and the need for regular team meetings. She underscores that mastering these communication skills is essential for advisors aiming to boost productivity, increase revenue, and build a high-performing team.

Resources in today's episode:

- Episode Website - Intentional Tax Planning and Avoiding Costly Mistakes with Guest Steven Jarvis, CPA [Episode 266] - Employees: Following Up or Nagging? Is There a Difference?

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The Perfect RIA

Dodging IRA Disasters and Fostering Team Synergy

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Common Mistakes with IRA Accounts

Effective Communication and Delegation

Remember Everything You Learn from Podcasts