Jon Bacon

Learning everyday, enjoying sunshine and coffee. All opinions are my own. Tweets are not advice.

[Jon Bacon @joncbacon]

@TR401 It’s like it was created by someone who has never been in actual wealth management meeting…lots of cool graphs and charts, but not the type of thing that is very useful to most clients I interact with.

[Jon Bacon @joncbacon]

@SawyerMMay @MeasureTwiceMNY Advisors have been telling clients that tax rates are going up for the last 30 years; and they’ve been wrong

[Jon Bacon @joncbacon]

@cartermcclung Self managed or with an advisor?

[Jon Bacon @joncbacon]

@markragland @RyanHoliday Same. I wonder if Seneca would have been in favor of listening to podcasts on his walks.

[Jon Bacon @joncbacon]

@MebFaber Trillions by Wigglesworth and A Piece Of The Action by Nocera

[Jon Bacon @joncbacon]

@MebFaber @alphaarchitect Fascinating- Im trying to wrap my head around the implications of these 351 conversions. From client’s perspective, the day after conversion they now have one ETF in their account with the same basis as their SMA was previously? And the ETF can now implement any strategy desired?

[Jon Bacon @joncbacon]

@money_cruncher Is it 5 calendar years or 5 rolling years starting with first distribution?

[Jon Bacon @joncbacon]

@LizSimmie Manhattan Beach is more compact if you are looking for cool restaurants and shops to walk to.

[Jon Bacon @joncbacon]

@nylebayer @TKopelman Red Bull is a great one

[Jon Bacon @joncbacon]

@nylebayer @TKopelman Curious which non WM firms jump out to you doing a great job of this?

[Jon Bacon @joncbacon]

@TKopelman One important factor I see is that younger people with high net worths may not want to give up control of assets in irrev trusts at this point in life. There is still so much time for their family and business to evolve in the coming years (decades) so advanced planning is tricky

[Jon Bacon @joncbacon]

@TheJacobTurner Great thread, I’ve always been interested in the unique needs of this groups. Do you ever assist with bill pay and more hands on type cash management? Is that something athlete clients need/expect?

[Jon Bacon @joncbacon]

@RealmStartup Just emailed. Happy holidays

[Jon Bacon @joncbacon]

@RealmStartup Happy to connect sometime. We are always looking for smart preparers to refer our LA clients to.

[Jon Bacon @joncbacon]

@Ritholtz This is a bit of head scratcher

[Jon Bacon @joncbacon]

@booksmyrefuge I loved this book! Important take away was that a negative or positive outcomes isn’t the best way to judge a decision—luck and other uncontrollables will also factor. Better to focus on the process and available information

[Jon Bacon @joncbacon]

@markcecchini Right on. So many folks base big financial decisions on stories they hear from friends and neighbors.

Many times they are getting at best incomplete information.

[Jon Bacon @joncbacon]

@T_Gatzemeier

[Jon Bacon @joncbacon]

The best advisors I have sat with have and amazing ability to distill client’s seemingly complex situations down into the most basic pieces and then offer clear decisions/options

[Jon Bacon @joncbacon]

People make this stuff much more complicated than it needs to be in their head. A good advisor can help them clarify and then simplify.