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Does your team work together?

Does your team work together?

October 11, 2022

I'll first answer the question you might be asking - who IS my team?  A good financial planning team consists of your financial advisor, an attorney, and a CPA at a minimum.  I've seen a lot of people over the years who've hired each of these professionals but have never asked them to work together.  The very best plans come together when there is collaboration between the three professions.

For less complicated plans, this doesn't necessarily mean that the team gets together for formal meetings.   It could simply mean that phone calls between professionals are made on an as needed basis.  For example, financial advisors, such as myself, will consider year-end moves that help to lower client's tax bills.  A good financial advisor is usually aware of quite a few strategies that can be used.  However, in this instance, it is best to consult with a CPA to get his or her expertise and recommendations and stamp of approval.  At Seasons Wealth, we consult with quite a few CPAs during the last quarter of the year on our client's behalf.

If you have a complicated plan that involved business entities, trusts, etc., a formal meeting might work best.  They can be held annually, as needed, or maybe even quarterly.  

Others who might need to work together as part of a good cohesive team are mortgage loan officers, trust departments, insurance agents, realtors, and more.

If you'd like to discuss this, or any other topic, please do not hesitate to call the office.  At Seasons Wealth, where we plan for life's seasons, tax-planning season is one of the important ones.