Advisors neglect tax management

According to an SEI Advisor Quick Poll, 95 percent of financial advisors aren’t doing right by their clients regarding tax management, despite 97 percent saying they consider it while developing proposals for prospects. Fifty percent of advisors polled said they match gains and losses for tax purposes only at the end of the year, and 15 percent say they rarely do. More than half of advisors polled say their clients are at least somewhat aware of the effect taxes have on their portfolios.