After Tax Season Opportunities

Tax season provides an excellent opportunity to talk with your tax clients about any life changes, future events and goals for their money. This allows you to further develop your relationship with your clients, as well as recognize potential investment opportunities to help your clients pursue their financial goals.

If you were not able to discuss investments during tax season, you can use the three quick questions below as a way to open the door and discuss investments with your clients.

Grandparents for College Planning:

Would you prefer that your grandchildren not know where the financial aid office is when it comes time to attend college?

College Board report in October of 2007

• 6.6% tuition increase this past year in four-year public universities
• 6.3% tuition increase in private schools

Remember, grandparents generally don’t have the knowledge about this opportunity to help. They simply need someone to briefly educate them. The gift tax annual exclusion amount for 2008 is $12,000 per donee. With a 529 plan contribution, you can average $60,000 over five years.

General Investment Management

• Match the suitability and time horizon to the asset class allocation for the consolidated portfolio.
• Ensure each fund/manager can stand alone as being excellent by continuously using the due diligence process.
• Make the mid-course adjustments part of your process as market forces influence your allocations. Alternatively, changes in your current situation, feelings, future horizon or family dynamics could warrant changes.

Family Risk Management

How recently have you had someone check the efficiency of your life insurance policies?

Better mortality assumptions over the past few years mean some clients, while older, may be able to realize substantial savings on premiums – and potentially pay them up.

These are just three ideas to help you open the door to providing additional investment solutions to your clients. Now is the time to schedule post tax season appointments and address any needs you identified during tax season.