Bank wealth managers say they will be forced to adjust their strategies when Sen. Barack Obama takes office next year — half of them believe the impact of the president-elect’s new administration will be negative for their clients.
A new SEI Quick Poll reveals that with Obama likely to raise the capital gains tax from 15 percent to 20 percent, wealth managers will advise clients to consider tax-managed investing strategies; 44 percent of those surveyed have already incorporated tax-managed strategies for their clients; the remaining 56 percent said they plan to do so.