Listen to the ‘Financial Advisors Want to Know Podcast’, as our very own Nancy Hetrick AWMA, CDFA®, MAFF, at Smarter Divorce Solutions joins to discuss her insights and expertise about handling finances and splitting assets during a divorce.
Nancy’s top advice – be very careful not giving advice when clients are divorcing because you have a fiduciary duty to both clients.
Finding a trained financial specialist (CDFA®) in this space is helpful to ensure clients maintain as much of their own assets as possible in the process.
Nancy highlights there are often ways to do a divorce out of court that makes the process easier.
Common mistakes Nancy’s seen –
- Advisors not realizing that they are splitting assets in a very tax-disadvantaged way – cashing in capital gains early – in Nancy’s case the advisor cost the client an additional 100k because he was deciding in a tunnel
- Get your team together – starting with a CDFA to help you through the process
This is podcast was hosted by Catherine Tindall, who is a CPA with Dominion Enterprise Services. They are a CPA firm that works specifically with financial advisors as their trusted tax professionals for their own firms.
Recently, Catherine had Nancy Hetrick on the show, and our topic is going to be talking about how when clients divorce, what the advisor’s role needs to be. Nancy has a deep background in this topic. She is a CDFA® and MAFF, is the founder and CEO of Smarter Divorce Solutions. and the Divorce Financial Planner Training Center, as well as a financial planner with Strategic Portfolio Solutions. So she has both the experience of training advisors on how to deal with these divorce issues and workshops for that, as well as being a financial planner herself and dealing with these issues. And she’s also a certified divorce financial analyst. So welcome to the podcast.
Your Trusted Partner
At Smarter Divorce Solutions, we help you with creative solutions and sound financial decisions surrounding the dissolution of your marriage, because we know that in the end you will still be part of the same family. Happy Anniversary to those that made it, and a kinder, gentler and more affordable divorce to those that didn’t.
