The downloads you will want after reading this newsletter are:
1) A real Craig Wear Roth conversion client recommendation (15-page PDF)
2) Craig’s 15-page client engagement letter (a stunning read)
3) Our OnPointe Software Roth conversion recommendation
To download the above three items, click on the following:
https://onpointesoftware.com/craig-wear-downloads
Who is Craig Wear? He’s a self-anointed Roth IRA conversion “guru” for consumers who have IRA balances of $1 million or more. He is a brilliant marketer with two books on conversions. Click here to look at his squeeze page with the following title and the ability to buy his new book for $3.95:
NEW BOOK Reveals How IRA Millionaires Can Escape a Lifetime of Unnecessary Income Tax
You can also get his FREE book by clicking on the following:
https://products.craigwear.com
He’s such a good marketer that it’s highly likely that YOUR clients who have money in an IRA will find Craig. This is bad on multiple levels, which is the reason for this newsletter.
$11,000 for Roth IRA Conversion Advice
It sounds crazy, but Craig used to charge $8,300 for advice, and I hear it’s now $11,000. I think that’s insane (especially if the advice is not accurate). But this proves the power of Roth conversions and why EVERY advisor should know the math and be able to run accurate conversion numbers for clients.
How do I know Craig?
Well…, I read Craig’s books and watched his online videos. To say they lacked specificity would be an understatement. I read them several times, and I couldn’t figure out his numbers.
At the time, our OnPointe software team was developing the industry’s most accurate Roth IRA conversion software, and I was writing a book with my daughter (see below). I was so frustrated with my inability to understand Craig’s numbers that I reached out to him.
Our email exchange is telling, but too long for this newsletter. But here’s the gist of it:
1) In the spring of 2024, I reached out to see if he would engage in a discussion to help me understand his numbers, and I asked if he’d be willing to go through a client comparison (he would run his numbers and I would run my numbers using OnPointe).
2) Initially, he said sure, he’d be happy to.
3) After I pointed out where I didn’t understand his numbers and after explaining to him that our team built software to run numbers and that they are so different it was stunning, his attitude changed. In a not-so-nice manner, he basically told me to get lost,and he was done with the discussion.
In early 2025, I obtained a client proposal Craig gave to a client, and I emailed it to him to see if it was similar to what he was still currently providing. He confirmed it was, and then I asked the million-dollar question I didn’t think he’d answer but did!
Craig Uses Right Capital Software to Run Conversion Numbers*
I asked Craig in an email if he has his own proprietary software or if he was using some industry software to run his numbers, and he said the following:
“Our software is primarily a report generator that uses data that we receive from our financial planning software, Right Capital. We do NOT do any tax calculations to come up with the lifetime tax projections. All of those come directly from tables downloaded from the planning software.”
I almost fell out of my chair when I read his response. Why? If you saw my newsletter a few weeks ago, you’d understand how truly ironic life can be. The newsletter title was:
Right Capital Vs. OnPointe (It’s Mind Blowing)
Then I let advisors download the following:
Download my 18-Page Critique of Right Capital (what’s wrong with…)
Download a 39-Page Right Capital Roth Conversion Recommendation
Download 3 different OnPointe Roth Conversions Recommendations
Click on the following to get the downloads:
https://onpointesoftware.com/onpointe-vs-right-capital
Letter from Right Capital’s law firm
As an FYI, I got a cease-and-desist letter from Right Capital’s law firm. They took issue when I said that their program doesn’t take into account Medicare costs. In the client proposal I was given by an advisor who uses Right Capital, it didn’t. But I found out that Right Capital does try to calculate some Medicare costs, and the advisor who ran the illustration didn’t enable that (so it wasn’t in the report). What was ironic about the cease-and-desist letter is that there was no mention of my opinion that Right Capital does NOT calculate income taxes correctly in their software. And if you are not calculating the MAGI correctly, guess what, you can’t calculate the IRMAA penalty correctly (which is based on a client’s MAGI). In any event, I wanted to correct my last newsletter when I stated that Right Capital does not try to do any calculations with Medicare.
Knowledge is Power!
Most advisors do NOT understand the math of Roth conversions. Bad advice on Roth conversion can cost clients tens and even hundreds of thousands of dollars. Advisors owe it to clients to learn the math behind conversions and be able to give suitable/accurate recommendations.
How can you show clients that you are capable of providing them with the best advice?
Become a Certified Roth Conversion Specialist™ (CRCS™). Click here to learn more.
How can you better learn this subject matter? Read our new book. It will blow your mind.
Click here to order it on Amazon!
