New York state took a big and long-awaited step when it became the sixth and largest state in the country to legalize same-sex marriages, but for financial advisors like Anna Pfaehler, a CFP and advisor at Palisades Hudson Financial Group in Scarsdale, N.Y., the work has just begun.
“As financial planners, it’s part of our job to stay on top of changing laws and to know how these laws are going to affect our clients’ financial planning,” Pfaehler says.
To this end, Pfaehler has taken a proactive approach toward making sure that Palisades Hudson Financial comes up to the mark with respect to serving same-sex married clients. As yet, the firm doesn’t have too many same-sex couples on its roster of clients, she says, but “this is definitely an area in which we want to do more business, and as long as same-sex marriage is not recognized at the federal level and states differ in their policies, we feel there’s a big need for financial planners.”