It’s the dead of winter. The good news is we’ve been able to watch the Winter Olympics. The bad news is the markets are as bumpy as the mogul events. But I’m getting ahead of the game, as we’ll cover market volatility in the April issue.
This month, we tackle everyone’s favorite topic: taxes. This issue brings to mind the words of my fourth-grade teacher, Ms. Hill: “The only two things you have to do in life are die and pay your taxes.” Little did I know back then that she was paraphrasing either Ben Franklin, Daniel Defoe or Christopher Bullock.
As our esteemed group of experts discusses in this month’s cover story, recent tax reforms could prompt more individuals to move from high-tax states like California and New York to low-tax states like Nevada and Texas. Just for the record, I made the move from the Golden State to my native Lone Star State on Dec. 10, 2017, before the new tax reforms had become reality.
Tax changes are one of many big shifts advisors face this year. Another one, of course, is the influence/prevalence of more technology.
During my recent travels to Fort Lauderdale and Orlando, Florida, as well to the Dallas-Fort Worth area for several industry conferences (InsideETFs, TD Ameritrade National LINC and FSI OneVoice), technology was in the spotlight. The frankness of many speakers and industry leaders on how critical it is for advisors to look ahead and adapt really impressed me. (See “Ways to Win the Man vs. Machine Advice Game” and “IBD Execs Get Real on Industry Shifts.”)