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Financial Planning > Tax Planning

Advisors neglect tax management

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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.

The poll found the most popular method for tax management was tax-managed mutual funds; 36 percent of advisors said they used this method. Twenty-four percent of advisors said they used tax efficient seperate accounts, compared with 16 percent of advisors who prefer tax exempt investments.


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