Blog

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...

Trust Company of America Expands Industry-Leading Liberty Mobile Platform

Above: TCA's technology systems over the years

Yesterday, Trust Company of America unveiled the new and improved Liberty, its industry-leading mobile platform for RIAs.

Now all major functions, including model management, consolidated asset management and model...

Read full post

How to Comply with RIA Regulations

The regulatory environment for RIAs is in a state of constant evolution. RIAs are still trying to navigate the new rules set forth by Dodd-Frank, such as the so-called “red flag” rule, aimed at reducing the risk of identity theft, and there is increasing pressure for the SEC to adopt...

Read full post

The Do’s and Don’ts of Hiring

Your business is only as good as its people. Unfortunately, every business inevitably makes regrettable hires or will in the future. In fact, 90% of participants in a recent Trust Company of America Genius Session on the do’s and don’ts...

Read full post

Conversion Made Easy: Switching to a New Custodian

Casey Hunt dreamed of having a one-stop shop for back-office solutions, data reconciliation, reporting and Customer Relationship Management (CRM). For years, he had multiple in-house employees manage those functions. He later outsourced to another company, but...

Read full post

Pages

User login