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As members of Ed Slott’s Master Elite IRA Advisor Group™, Dave Richmond, CLU, ChFC and Matt Curfman, CFP® recently returned from a workshop in Dallas, Texas, to continue their education in IRA tax laws. With their Master Elite status, Dave and Matt (consultants of Richmond Brothers Financial Management Specialists, Inc.) are able to help ensure that clients' IRAs are set up and maintained correctly in the face of ever-changing laws and regulations.
Master Elite Members are:
• Dedicated to being leaders in the IRA industry
• Kept up-to-date on IRA tax changes via e-mail alerts and live teleconferences
• Educated with advanced, ongoing training from Ed Slott
• Members of the Elite group for two-plus years
“We are privileged to have been able to work side by side with the highly-esteemed and successful Ed Slott for three years,” Dave Richmond, Chairman and Chief Investment Officer, Richmond Brothers Financial Management Specialists, Inc. explained. “Thanks to Ed, Matt and I have easy access to vital new changes with IRA tax laws that impact our clients. We are able to proactively work with our clients to address those modifications.”
Recent important changes covered in the workshop included:
• Good news for those who took an unwanted required minimum distribution (RMD) in 2009: the funds can be put back! The IRS is waiving the 60-day rollover deadline to undo the RMD, regardless of when the RMD was taken in 2009. This applies to the plan owner, plan participant, or spouse beneficiary.
• Great plan for those who have trusts: create tax-free income inside your trust! If you have an IRA with a trust as the beneficiary, you may consider converting it to a Roth IRA and naming the trust as the beneficiary. Tax-free income will be created inside of the trust.
For additional information about the Dallas workshop or IRA tax laws, contact Dave or Matt at questions@richmondbrothers.com or call toll-free at (877) 467-2367. You may also wish to visit http://www.irahelp.com for additional information on Ed Slott and Company.
About Richmond Brothers Financial Management Specialists, Inc.
RBFMS was founded by Dave and John Richmond in 1994 as Richmond Brothers Educational. Over its seventeen years in business, the company has evolved into a proactive wealth management firm focusing on retirement distribution planning. A $500 million, privately-owned operation, RBFMS has helped hundreds of clients realize their retirement goals. The company is located in Jackson, Michigan, but serves many clients throughout the country. Securities are offered through Sammons Securities Company, LLC Member FINRA/SIPC.
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