Every tax year can be different, and adjustments should be considered continually. Elevate the tax planning services you provide by first knowing which questions to ask clients and prospects.

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Key Takeaway

By having informed conversations about taxes with your clients and prospects, you are not only demonstrating your expertise, you are setting yourself apart from other financial advisors by asking the right questions.

3 Questions to Ask

Select a question to learn more about why it's important to raise the topic in your conversations.

Question

What detracts more from investment outcomes: fees or taxes?

Question

What detracts more from investment outcomes: fees or taxes?

Why Ask This?

Many clients believe high asset management or advisory fees are the biggest drain on investment returns. But the reality is that, in many cases, taxes can reduce investing gains more than any other cost—and they can be the easiest cost to reduce.

Question

How much of an impact do taxes have on your investments each year?

Question

How much of an impact do taxes have on your investments each year?

Why Ask This?

Especially for high net worth clients, capital gains taxes can have a substantial impact on their portfolio. By building your understanding of tax management strategies, you can provide a year-round approach and potential tax savings.

Question

Are you open to looking for ways to reduce the amount you pay in taxes each year?

Question

Are you open to looking for ways to reduce the amount you pay in taxes each year?

Why Ask This?

Feeling out how your clients want to manage their taxes is the first step to providing tax-managed services, like tax-loss harvesting.

Next Step

How clients and prospects answer these questions can help you gauge their level of interest in tax-planning services.

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The Firm does not provide tax advice. The tax information contained herein is general and is not exhaustive by nature. Tax laws are complex and subject to change. Investors should always consult their own legal or tax professional for information concerning their individual situation.