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Talking Taxes: A Crescendo of Referable Moments

By David RichmanManaging Director, Advisor Institute

These days there are a crescendo of referable moments—anytime a market meme pops up in conversation between your client and a friend and you are not in the room—provided you've been intentional in your messaging.

 

Our definition of a market meme is a topic people are buzzing about that has direct or indirect implications for investment or planning decisions, such as, the U.S. presidential election. In some circles, the potential sunset of the Tax Cuts and Jobs Act (TCJA) may also rise to the level of a market meme.

 

Developing and delivering a well-articulated ism can help you capture referable moments. An ism is a timeless, pithy sound bite that is easy to remember and connects the dots to the advice you deliver to clients.

 

Consider the following hypothetical conversation between your client, Bill, and his colleague, Charles.

 

Charles: "I think the market isn't paying enough attention to the implications of the sunsetting of the TCJA. It makes me happy I have so much cash on the sidelines."

 

Bill: "We don't think whatever happens with the TCJA sunset will be that critical to market direction. It's profits not politics that drive markets. That's why we continue to overweight U.S. stocks."

 

Charles: "What have you been reading?"

 

Bill: "Nothing. This all comes from my advisor, Jennifer."

 

Charles: "Jennifer?"

 

Is your ability to influence the conversation between your client and his colleague as easy as delivering an ism such as, it's profits not politics that drive markets? Could it be that simple? We believe it is.

 

Bottom line: Be intentional with your messaging to capitalize on the upcoming crescendo of referable moments. This is your time to influence the conversation when you are not in the room.