Household management provides advisors a different view of their clients’ accounts. They allow an advisor to quantify investing results for the client across all their accounts and holdings, which greatly impacts a client’s willingness to spread out their assets across multiple advisors.
No investor can escape taxes. Most investors try to forget about taxes until it’s time to file their returns, but by that time, it is often too late to implement any strategy to reduce the amount owed. That’s where advisors can help.
People are talking about Social Security. But these conversations are happening between peers, who most often are not financial advisors. This puts the investor at a disadvantage because most people do not understand what variables determine how much they'll receive when they file or when they should start tapping into their benefits.
Leveraging technology to grow an advisor’s business was the main theme of this year’s event. Each session touched on a mixture of what’s coming next year, which technology applications will take advisors’ practice to the next level, and how advisors can use digital marketing tactics and strategies to attract new clients.
You are seeing more news about how to generate retirement income efficiently and effectively. LifeYield and the Black Diamond Wealth Platform have partnered to help advisors show clients how to improve after-tax results while accumulating assets when drawing income. We asked LifeYield executive Steve Zuschin to address the benefits of managing multiple accounts in a risk-smart, tax-smart way, including asset location and tax-smart coordinated withdrawals.