It’s been called many things over the years. Unified managed household. Aggregated accounts. Complete household view… just to name a few.
All of these terms are similar. When they first started being used, they all meant essentially the same thing. But a household view (or whatever you want to call it) is not enough anymore. Advisors need to manage and coordinate assets at the household-level – across accounts –optimizing for risk and tax – and maximizing after-tax returns.
We live in a “more” culture. Money. Happiness. Health. We’re programmed to always want more.
That’s what asset location provides. More.
Higher after-tax returns for clients. More revenue for the advisor and the firm. It’s a win-win.
Adopting an asset location strategy and adding the ability to quantify those benefits for clients adds tremendous value to an advisory practice. Not only will you generate more revenue per client, but your clients will have a clear understanding of the value you bring to the table. Value that goes far beyond the performance of investments.
"Now I understand what you've been saying all these years."
This is music to anyone's ears. But it's pure gold in the financial advice world.
Advisors have been trying to simplify complicated topics like risk and tax for decades. Today, we have a real success story.
Enter: Rick Mida, Partner and Wealth Advisor at Canopy Wealth Management.
Investors are painfully aware their retirement plan needs a do-over. With so much uncertainty, it's like the investment gods shook every investor's portfolio like a canister of Legos and dumped them on the floor. Top advisors are helping investors rebuild portfolios, get on the right track, and realize their retirement dreams.
There has been a lot of conversation across the industry over the past year about the importance of asset location. In the wake of volatile markets and uncertain times, you will be hearing a lot more.
We'll discuss what asset location is and why it matters to investors and your bottom line.
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