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FAs Weigh In: Clients Mostly Ask About Financial Health and Taxes

By Rita Raagas De Ramos March 24, 2021

FA-IQ reached out to advisors to ask: What are the top financial advice questions you are getting from your clients?

Katherine Forrester Schneewind, CEO and founder of High Note Wealth. Deephaven, Minn.-based Schneewind has been in the industry for 25 years and has around $400 million in client assets.

“There seem to be two predominant questions for me at this time: #1 'Am I going to be OK?' #2 'Are you concerned about the market crashing?'

Katherine Forrester Schneewind
My response to #1 is yes, you are going to be OK because you work with us. We are keeping retired clients two to three years cash ahead for comfort. We are keeping anyone with upcoming cash flow needs in the same cash realm. This allows us to stay focused on the long-term investment strategy that our clients will need if they live to age 100.

My response to #2 is while we are always alert and watching, I am not concerned because we have been through this before — September 11th, the great recession of 2008-2009. We have 25 years of experience managing up and down markets. This is why our clients hire us — so we can take this worry off of their minds so they can focus on their family and career. This is what we do best.”

Christopher Cooke
Christopher Cooke, a partner at Cooke Financial Group, which is part of Sanctuary Wealth Partners. Indianapolis-based Cooke has been in the industry for 29 years and has $2 billion in client assets.

“Big questions include ‘What are future tax rates? Inheritance tax rates/limits? Capital gains? Dividend taxes?’

These questions — and any eventually changes in the tax code — will drive many significant decisions in 2021.

Being out in front of this during 2021 is critical.”

Jason Fertitta
Jason Fertitta, president of Americana Partners. Houston-based Fertitta has been in the industry for 19 years and has around $3.4 billion in client assets.

“The most asked question is: ‘How do I live off of the income of my portfolio with bond yields being so low?’

We believe fixed income is the most overvalued asset class that we track. Given the stretched valuations in fixed income, we are starting to tilt more towards private credit and real estate to replace part of our bond allocations. I think the slow rotation out of bonds into other fixed-income surrogates will be front and center during 2021 and beyond.”

Do you have a news tip you’d like to share with FA-IQ? Email us at editorial@financialadvisoriq.com.

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Tags:  Finding and winning new clients , Client retention , Investment strategies , Portfolio management

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