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Putnam Wealth Management Center Helps Advisors Master Tax Law

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With tax season in full swing, Putnam Investments has introduced an online resource kit to help advisors and their clients understand key provisions of the sweeping tax law changes now taking effect.

Accessible through Boston-based Putnam’s advisor website and new Wealth Management Center, the virtual “Tax Insights” resource kit includes a white paper, relevant investor education information, a client seminar and videos that give advisors tax planning ideas. Founded in 1937, Putnam Investments is a global money management firm with $123 billion in assets under management as of January.

“The legislation signed into law in December represents the most significant tax law in a decade, but its scope and complexity can be overwhelming,” said William Cass (left), senior vice president of Putnam Retail Management, in a statement. “We are providing the information advisors need to stay current and ensure that their clients are well-served in this ever-changing tax environment.”

The Wealth Management Center’s website covers topics such as the Alternative Minimum Tax and directing tax-free IRA distributions to qualified charities. A PowerPoint presentation covers estate taxes, payroll taxes and health-care taxes along with five planning strategies in light of the recent tax law.

They are:

  1. Accelerate income and deductions in 2011 and 2012
  2. Consider tax-free IRA distributions for charitable contributions
  3. Review estate plan strategies in light of the new rules
  4. Take into account that dividends in taxable accounts may be an attractive source of income for the next two years given the low tax rates
  5. Hedge against uncertainty of future tax rates by being tax-diversified

For the most part, Cass noted, the law’s provisions apply only for the next two years, so it’s essential for advisors to take advantage of them.

“The new legislation essentially protects the current low-tax environment, but, after 2012, we face a real threat of higher taxes,” he said. “So it’s imperative that individuals take advantage of current tax opportunities now.”

Read about the launch of Putnam’s Wealth Management Center at


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