| It’s tax season – a busy time of year for financial advisors. If you provide tax services to your clients, you are deep in the process of preparing your clients’ taxes. Even if you do not prepare your clients tax returns, you are very involved in answering questions and providing information required for filing.
Tax season presents a perfect opportunity to explore financial planning issues. Taxes provide a fresh focus on financial issues for clients and prospects, and their tax return offers financial planners a window into their financial situation. Reviewing a client or prospect’s 2012 tax return can uncover areas where the clients are in need of guidance. You might discover a client has limited savings and investments relative to overall income. This client may not fully appreciate the value of building wealth for their future and need direction and motivation, or the client may not fully recognize the opportunity they have to begin to accumulate wealth over time. Illustrate this concept by creating a financial plan, and help drive the client to action. The side-by-side “What If?” in Silver Financial Planner allows for instant modeling of retirement planning concepts and opportunities, allowing for rich client interaction and engagement. |
|
| A representation of this client’s retirement projection is shown using Silver’s side-by-side “What If?”. The graph on the left shows the projection of their assets available for retirement assuming current savings continue, increasing each year by 3%. The right shows their assets with additional contributions of $5,500 into both clients Roth IRAs combined with current savings.Use “What If?” to show what might happen if a client accumulated more funds, also improved returns by diversifying, or revised goals such as retirement age, life expectancy, personal expenses or other factors. | |
Tax Season: A Window Into Financial Planning Opportunities
Contact Us