Every year we reach out to schedule an annual meeting with our clients. Many of our clients come in twice a year and maybe more frequently when they are going through big changes or life events. What surprises me is that some clients have worked with us for years and will still skip an annual meeting. If everything is going fine and nothing has changed, the client may just tell Sandy to not worry about it this year.
The problem with skipping a meeting is that even when circumstances haven’t changed for a client, sometimes other things have shifted. I could make a long list of all the reasons to check in, but I am going to keep the list short. So here are my top five reasons for 2018:
- Keeping Us Updated About Your Family – Checking in and letting us know about any family changes is an important part of the planning process. Changes in family can affect goals, tax situations and beneficiary designations. We can give great advice, but we are limited if we don’t have all of the facts.
- Checking Up On Your Estate Plan – We need to check your beneficiary designations and if your wills and power of attorney documents are current. This is generally something we want to review once a year. Estate documents usually need to be checked again every five years or so.
- Reviewing Your Tax Situation – While we don’t prepare taxes for our clients, we do discuss tax planning strategies. It is important that we know your tax bracket and tax sensitivity, so that we can manage taxable gains in your account.
- Taxes Again! – Changes in the 2018 tax law can affect how you account for deductions or give to charities.
- Carroll Financial Snack Bags – We make these great snack bags for you to take home. This last one is a bit of a joke, but we want a visit to our office to be a good experience for our clients. Come in and see us, check out pictures of my adorable kids, have a nice cup of coffee and a snack and ask me how Larry is (he is doing great by the way and is still here every day).
When I am feeling fine, I push back my annual physical. When I was younger, I would sometimes skip going to my cleaning at the dentist every six months. Our lives get busy, we have family obligations, work and so many other things that fill up our days. Any advisor here is more than happy to meet by phone or video conference as we have clients all over the country and do this regularly. If that is easier than coming into our office, let’s make it happen.
Bottom Line: Don’t skip your annual review. I hope that meeting with me is better than a trip to the dentist.
From the desk of Kris Carroll, CFA®, CFP®Carroll Financial, Tax Planning