My clients are looking to me to help them with their retirement. Should I get into the business of selling them investments and insurance?
I think accountants are trusted by clients more than they trust any other professionals they work with. The reason is simple – they are not financially interested in the advice they give. Once you become financially interested by selling insurance or investments, you can lose that independence and respect. Consider referring your client to me, who is an accountant and understands your special relationship to your client. Let me make the investment and insurance recommendations for your client. I welcome the participation of a client’s CPA in my process and never deposition them because I know that the CPA will be impressed by my process and refer me to their other clients.
My clients often ask me for advice on annuities, but aren’t they very expensive?
The annual charges for annuities can be relatively high. However, these charges can be worth it when the client is seeking the option of turning his investment someday into a lifetime check. Don’t prejudge this issue, as there is a place in most retiree’s portfolios for annuities, which are becoming more sophisticated all the time.
Download a PDF presentation prepared especially
for accountants.
Legal Disclosure: Variable annuities are suitable for long term investing, particularly for retirement. Guarantees or insurance company ratings are based on the claims paying ability of the issuing insurance company. There are fees and charges associated with variable annuities including mortality and expense charges, administrative fees and annual contract fees. Withdrawals of earnings from a variable annuity will be subject to Federal income tax and possibly other taxes. Surrender charges may apply to early withdrawals from a variable annuity.
