A penny saved is...

Creating a more tax-efficient strategy for your clients

Ben Franklin once said, “Don’t put off for tomorrow what you can do today.” So while Ben was a great statesman, he might not have cut it as a financial professional. Helping clients defer taxes is a strategy that could help them save a significant amount of money over a lifetime.

A less taxing conversation

Clients aren’t shy about voicing displeasure over how much they’re paying in taxes. And who can blame them? One of the side effects of a bull market is that dividends and capital gains taxes go hand-in-hand. That’s why this tax season your clients may be more receptive to a conversation that focuses on tax-deferred strategies.

Growing wealth can help grow confidence

Keep in mind that bolstering their portfolio to be more tax-efficient isn’t just about clients saving money today. It’s actually an opportunity to help them grow their wealth as they try to achieve the retirement they’ve always envisioned. And even if they already have a tax deferral strategy in place, there are ways to give their savings a boost by adding to their existing contract.

Action steps

Start by asking clients these questions to help identify which tax deferral solutions might best fit their needs.
 

  1. Did the market ups and down affect your tax bill this year? What about in the future?

  2. Would you like to do more to grow your income more tax-efficiently in 2020?

  3. What would more predictability look like for your taxes?


Partner with us

Contact your Lincoln representative today at 877-533-0265 to learn how you can help add more certainty into your clients' retirement income plans and build deeper relationships. For additional tips and insights, make sure you follow us on LinkedIn and Twitter .

Chris Price

For more than 22 years, Christopher H. Price, JD, LLM, CLU®, ChFC®, AVP, Advanced Sales, Lincoln Financial Distributors, has helped advisors and their clients accumulate, distribute and transfer annuity assets by using a holistic approach. In 1983, he began his career as a trust officer with Sovran Bank (now Bank of America). Chris moved into financial planning, and followed that by managing an insurance agency that served some of the wealthiest families in the country. In 1994, Chris joined Delaware Investments, formerly a member of Lincoln Financial Group, where he was responsible for the product management of Delaware mutual funds and eventually Lincoln variable annuities. From 2000 to 2004, Chris used his expertise to help financial advisors and their clients with advanced case issues. In 2005, he transitioned to the Lincoln Advanced Sales team. Chris holds a BA in history from Vassar College, and law and master’s degrees from the Marshall-Wythe School of Law at the College of William & Mary.

  

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