🤔 ‘Yo, What’s That on the Side of the Road?’

A California road became a runway for a massive tumbleweed this week, rivaling the size of a Volkswagen beetle. 

Dubbed "the mother of all tumbleweeds," this giant hairy-looking ball garnered internet fame, likened to a cosmic hairball or creatures from an '80s horror flick. 

Experts say there are more colossal tumbleweeds in our future, as climate change is now causing certain types of weeds to reach heights of 6 feet or more.

Let’s just call it…Tumblegeddon!

–Team Advisorist

In Today’s Issue 👇️ 

• An under-the-radar tax and estate planning strategy

• How to never forget another name

• Useful (free) tool for blocking noise while working

And all of the week’s biggest headlines to make you the smartest advisor in the room. Let’s dig in!

🔑 Unlocking Tax Efficiency and Charitable Impact for Your Clients

You might've heard about Donor-Advised Funds (DAFs) being the go-to for the ultra-wealthy when it comes to charitable giving and smart tax moves. 

But guess what? 

It's not just a VIP club for the rich. It’s actually becoming a much more attractive option for “everyday” Americans who want immediate tax benefits and airtight estate planning.

🤔 What’s So Special About DAFs? 

A DAF provides immediate tax deductions for the money you contribute to the fund. 

But there’s an added bonus: You're not rushed to give it all away at once. 

You can take your time, pick your causes, and decide the amounts you want to donate. 

Tax savings and total flexibility? Yes please…

DAF assets currently represent 20% of all assets in private foundations, according to the latest National Philanthropic Trust annual report.

Brandon O’Neill, a top-notch financial planner at Fidelity Charitable, suggests setting up DAFs during estate planning, as it allows clients to clearly direct how they want their assets used without being tied down to a specific organization or cause.

Another benefit of setting up DAFs sooner rather than later is that they simplify taxes.

• There are no annual charitable payouts or annoying tax forms haunting your dreams. 

• No more tracking individual contributions, receipts, and statements – everything gets tracked and organized within the fund.

PLUS…

• You can put almost anything into a DAF…including appreciated assets like stocks or bonds to eliminate capital gains taxes.

🙌 But wait, there's more!

For clients who want to supercharge tax savings, you can help them bundle up donations in a single year to maximize deductions.

With the raised bar on itemized deductions, especially after the Tax Cuts and Jobs Act, it's basically a ninja move for tax efficiency.

✏️ Who Can Set up a DAF?

As alluded to earlier, Donor-Advised Funds used to be for people with big bank accounts. But today, a client of yours can get started without having a bunch of zeros on their statement.

Some firms even let clients start a DAF without any money or proof of funds. This allows anyone to dip their toes into the world of smart giving regardless of income level.

🙌 IRS Law Creates Advisor Windfall

What if you could create an extra $2,000, $5,000 or $10,000+ per month – every month – for as long as someone stays your client?

And what if it only required you to make a quick introduction?

Our guest on today’s Power Hour has helped advisors with business owner clients create consistent, residual income through a lucrative Tax incentive that's been around since 2008.

But despite being around for 15 years, very few people know about it. 

(It’s not Section 125, btw.)

We’re going LIVE today at 12pm EST / 9am PST!

👉️ Click to register for free!

Headline Roundup

🏠 Affecting Your Clients

• Americans Set Records on Thanksgiving Shopping Weekend [MW]

• New Plan Proposes Stock Portfolios for Every Child in America [CNBC]

• Millennials & Gen Z Use ‘House Hacking’ for Homeownership [CNBC]

📈 Markets & Economy 

• Goldman Says ‘Shine is Returning’ For Gold Investments [CNBC]

• $7.6T of US Government Debt Set to Mature in 2024 [Y!]

• US Crypto Regulation in ‘Holding Pattern’ Until After ‘24 Election [TB]

💼 Industry Roundup 

• Study: Many Not Planning Well for Life Expectancy [INN]

• Top FAs Share Their Top Year-End Money Moves [BRNS]

• Finance is Facing a Talent Shortage: Is AI the Answer? [FC]

🧠 How to Remember Every Client and Prospect’s Name With 100% Accuracy

Raise your hand if you’ve ever forgotten someone’s name like five seconds after meeting them.

We’ve all done it a time or two 🙋‍♂️

And, to be quite honest, it’s not a good look 😬

It’s really hard to show someone that you care about them (or that you’re going to care for them and their money) if you can’t do something simple like remember their name.

It’s vital for prospecting, networking, etc.

Thankfully, anyone – including YOU – can improve your ability to recall names with almost 100% accuracy.

💼The $100k Suitcase Method

If someone offered you a suitcase filled with $100k in exchange for remembering the name of the next person you meet…

…do you think you could do it?

Absolutely.

Why? Because remembering a name isn’t a memory problem – it’s a focus problem.

That’s how you need to think about names.

And with one simple trick, you’ll be able to recall almost any name on demand.

The key is to focus on one particular feature of the new person’s face.

Search for their most distinguishing feature

It could be a unique hairstyle, dimples, oddly shaped glasses, or a bushy mustache. 

Whatever stands out first, go with it.

Then – in your head (not out loud 😆) – repeat the person’s name followed by the facial feature 3 times in a row.

“John Smith, gray beard. John Smith, gray beard. John Smith, gray beard.”

All it takes is that simple connection and you’ll significantly increase your name recall ability the next time you see that person.

Don’t believe it? Try it with the next person you meet.

🤓 Tech Tip of the Day

Do you ever find it difficult to reach a state of deep work when you’re in a:

❌ Noisy office

❌ Crowded coffee shop

❌ Busy airport lounge

❌ Spare bedroom during the holidays

I want to let you in on one of my absolute favorite websites: MyNoise.net.

This 100% free website lets you pick different soundscapes to block out noise. Plus, you can control volume levels with a high degree of customizability.

For example, I like to listen to the “Cafe Restaurant” soundscape with my noise-canceling headphones.

It gives you the background chatter and soft noise of a cafe without any discernible words or conversations that would distract me.

Sometimes, however, the “clinking” of the plates and glassware in the soundscape is too distracting. So I’ll actually pull the volume of the “kitchen” down while leaving the chatter up.

MyNoise also features soundscapes like white noise, Japanese garden, healing water, distant thunder, speech blockers, and binaural beats.

Check it out for yourself!

🗓️ Upcoming Industry Event Calendar

• Today: Virtual Advisor Power Hour

• Dec. 4-7: Market Council Summit

✌️Good Vibes

We think we know people…but sometimes our perceptions are way off.

That was certainly the case for the residents of Hinsdale, New Hampshire when they learned that a modest caretaker in town was actually a multimillionaire upon his death.

The man’s name was Geoffrey Holt, and he was known for his simple habits like living in a modest trailer and using a lawn mower for transportation.

After his passing, the town learned that Geoffery had bequeathed an eye-popping $3.8 million to the community for education, health, and culture enhancement. 

In honor of his wish, a charitable foundation has been established to manage the funds.

And the town administrator ensures they will be frugal in their management of it – just like Geoffrey would have wanted! 😃

Sharing looks good on you.

When you copy that link at the bottom and share it with a few financial planning colleagues, you look like the smartest advisor in the room by keeping them informed.

Plus, you earn rewards. Sweet.