For financial advisors, the first half of the year has included some unique challenges. Cryptocurrencies, Reddit suggestions, and other high-flyers have been tempting to some investors. They are all too eager to abandon their initial plan and move toward the exciting new opportunities. However, a look at the past year shows the planning process works, and shouldn't be abandoned.
"It was a year where practice and planning paid off. For advisors who had proactive discussions with their clients about an inevitable market decline, the market dip turned out to be a huge opportunity to implement tax strategies or buy underpriced companies. Advisors who established contingency plans with their clients in advance were able to go and execute on those plans. When considering your process, a key consideration for the balance of 2021 is the likelihood that our tax system is in for a change."
Read this Perspectives Magazine article by Covisum Founder and President, Joe Elsasser, CFP® for a closer look at how advisors can guide clients through changes in 2021 and beyond by trusting the planning process.
Access industry news, expert insights, best practices, free downloads and more.
© 2010 – 2023 Covisum®. All Rights Reserved. For advisor use only. Covisum is not connected with, affiliated with or endorsed by the United States government or the Social Security Administration. The local advisor offering Covisum products may be an insurance agent, financial advisor, accountant or attorney. Advisors may offer other products or services and are compensated by commissions and/or fees for any other services they may provide.