It’s RMD Season

Summer is winding down and kids are going back to school. If you will be 70 ½ years old or older this year, now is the time to ensure that you have taken your required minimum distribution (RMD).

If you have not already satisfied your 2019 RMD with your assets held in our care, our associates will be reaching out to you from now to the end of the year to confirm those distributions. If you haven’t heard from us yet, but would like to take your distribution as soon as possible, please give us a call.

What are your options for your distribution?

As in year’s past, you still have the ability to send money via direct deposit, wire, check or journal (Internal account). Of course, you can also send
charitable distributions.* Additionally, there are some newer features that may be of interest to you:

  • Check Writing
  • Automatically Updating Periodic Distributions

For our clients that like making multiple charitable donations during the year, having a checkbook can make that process a breeze. Just as you would with a checking account, simply write a check off of your available cash balance and send it to the organization of your choice.** If you use your IRA as a primary source of income, this can make access easier too. If you would be interested in setting up check writing on your IRA, please give our office a call to learn more.

If you would prefer your RMD to be “hassle free” while receiving a periodic payment, we can now set up your RMD to be completed on a monthly and quarterly basis. This differs from previous periodic distribution options because your payments, as long as your tax withholding remains the same, will automatically adjust with your RMD year-to-year instead of needing
new paperwork. Please contact our office if you would like to establish automatically updating minimum distributions.

If you have a retirement account held elsewhere, we would recommend that you contact the administrator on those accounts to confi rm your RMD has been completed.

*Please consult your CPA to discuss the potential tax benefi ts/consequences of charitable distributions.
**Check writing does not ensure that your RMD will be met or exceeded. Please consult our office if you have any concerns about your required distribution balance.

Your Opinion Matters

In October, Collins Investment Group and Wells Fargo Advisors
Financial Network will be sending out short surveys to a random
selection of clients in hopes that we can gain a better understanding
of how we are doing for you, and to see how we might be able to
improve. We also hope to learn more about how we can most effectively deliver our services to you on an individualized and personal level.

When you receive the survey, you will be given the option to respond either online using your survey code or QR code, or by mail. If you have any questions at all, please feel free to reach
out to us.

We really appreciate you taking the time to complete the survey. We look forward to your feedback and being able to continue to build our relationship and provide you with the highest levels of service.