InsuranceNewsNet Magazine February 2012 : 20
T B Y L I N D A KO C O ax planning can be downright scary for insurance and finan-cial services clients. Tax-monster scary. That’s because peo-ple are afraid that the federal government is going to raise taxes as part of its efforts to reduce the massive $14.9 trillion national debt. In fact, 45 percent of nearly 1,700 Americans polled by Prin-cipal Financial a few months ago named “increased taxes” as one of their top five concerns for 2012. This would appear to be an ideal opportunity for insurance and financial advisors to help clients better position themselves to deal with concerns—and fears. It’s an opportunity for advisors who are up to speed on tax-advantaged products and strategies, and how they fit into a client’s needs. The problem is, not all advisors have tax solutions at their finger-tips. Many have been spending a lot of effort over the past few years on helping clients recover from recession-related losses—of jobs, homes, investments, etc.—so tax planning moved to the back seat. Now, however, it may be time to change the focus. Several experts have offered ideas on what this might entail. 20 InsuranceNewsNet Magazine February 2012
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