We recently received a question from an investment manager of a client we only handle tax services for, and it sparked an important discussion about the need for clear communication between financial professionals. Specifically, we’re looking at how IRA conversions can be impacted when tax planning and investment advice aren’t fully coordinated. We’ll also explore why splitting your financial advisors could actually lead to more confusion and missed opportunities. So, let’s break it all down and see why having one cohesive team in place is so crucial for making the best decisions for your financial future.
Topics Discussed:
- Why it’s common for people to diversify their advisors—and why that may not always be a good idea.
- What tends to happen when you have multiple financial and investment advisors.
- Why it’s so important to have one cohesive overall plan for your finances.
- What empirical studies and peer reviewed journals have to say about diversification.
- The best setup that we recommend for financial planning clients.
- Insight into IRA conversions and the options you should look into.
Resources Mentioned:
Tags:
IRA conversions, financial planning strategy, financial plan, financial team, financial diversification, investment diversification, tax planning, retirement planning, emergency medicine, ER doc, ER doctor,
