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Advisors
Register now to manage accounts, create MAx Models and get access to our Knowledge Bank.

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Create Account to manage your assets on the Jefferson National Account Management website.

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Advisors
Register now to manage accounts, create MAx Models and get access to our Knowledge Bank.

Account Holders
Create Account to manage your assets on the Jefferson National Account Management website.

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Advisors
Register now to manage accounts, create MAx Models and get access to our Knowledge Bank.

Account Holders
Create Account to manage your assets on the Jefferson National Account Management website.

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August 25, 2015

Think Advisor: Are Your Clients Paying Too Much in Taxes?

 

Recent article from Think Advisor addresses the concerning issue that clients may be paying too much in taxes. Results from a Russell Investments survey show that 53% of U.S. financial advisors claim that their clients paid more taxes in 2014 than the year before. Furthermore, 81% of advisors say tax returns are of high importance to their clients, but at the same time, 37% of clients’ taxable assets were not managed by their advisor.

While tax returns show to be a concern of clients, the survey shows that only 27% of advisors currently encourage clients to use tax-deferred strategies within their investment portfolios. Using tax-deferred vehicles, such as a new generation of low-cost, investment-only variable annuities, may help clients accumulate more income for retirement.

Frank Pape, director of consulting in Russell Investments points out, “Many advisors and their clients don’t yet realize that there is more to tax-aware investing than muni bonds and index funds.” Advisors still need to gain a better understanding of the products available for tax-advantaged investing.

Pape goes on to state, “As advisors gain a broader knowledge of the tax-aware strategies available to them, they often find themselves better able to advise and aid not only high-net-worth investors but also those in the middle income brackets.” 

Click here to learn more.