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Most IRA account holders are probably aware that they need to withdraw some amount of money from their account after they reach a particular age. This amount of money is known as a Required Minimum Distribution (RMD). But the specifics of the rules, which do not apply to Roth IRAs, can be difficult to understand. A recent Genius Session may offer confused IRA investors some clarity.

One common source of confusion in understanding RMDs is what’s known as the Required Beginning Date—the date by which an IRA owner must begin receiving distributions. The RBD occurs on April 1 in the year after the account owner reaches the age of 70.5. The above graphic helps to illustrate this point. Even though John and Mary turn 70 in the same year, Mary’s RBD is after John’s because she doesn’t reach the age of 70.5 (ie, 70 years and 6 months) until the following calendar year.

Determining the amount of the RMD...

How to Attract Talent to Grow Your Firm

The RIA channel has enjoyed tremendous growth in recent years. From 2008-2012, more than 4,000 advisors wirehouses and large advisor firms to join the ranks of Registered Investment Advisors, ...

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Selling Through Others: the TAMP Model of Growth

The traditional RIA business consists of four basic components: back-office functions, compliance, money management and sales. All of these functions can be outsourced to other firms. The best RIA firms spend 60-80% of their time in client-facing activities so they can drive growth. What RIAs...

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Using Technology to Streamline Your Practice

With the speed at which technology changes, advisors need to be adaptable and willing to upgrade technologies that can improve their business. That was the message from Doug Kinsey of Artifex Financial Group, who outlined a roadmap of his firm’s technology in a recent Genius Session for...

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Lean Six Sigma training brings process improvement to TCA

RIAs that work with Trust Company of America know that a key focus of our work is on helping advisors achieve smart growth.

Whether it is our dedicated advisor service, leading RIA technology, or practice management consultative offerings, we help advisors do more with what they have.

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