A financial sales software firm predicts next year will be exceptionally busy for financial advisors.
Impact Technologies Group Inc., Charlotte, N.C., says expected federal tax reform, changes to the estate taxes and the first wave of baby boomer retirements will have significant impact on how advisors handle their clients’ financial plans.
Impact says changes in the tax code to reform or repeal the estate tax will have the most impact. Expected new retirement savings options will likely have a significant effect on how Americans plan for their future.
“There may be sweeping changes to retirement accumulation options, which may ultimately result in more ways to save for retirement,” says Maxey Sanderson, vice president of product development for Impact. “This will have financial planners busy for some time as they reeducate clients and modify their clients’ investment portfolios.”
Impact foresees increased activity in estate planning, too. Many individuals who have deferred planning waiting to see if there would be reform, according to Sanderson.