Advisors Fielding More Client Queries About Taxes and Retirement

Next, we advise them to think about the different models they can use for both taxable and tax-deferred accounts. But, when it comes to ensuring a client’s investments are as tax efficient as possible, asset location is just one piece of the puzzle. The more investments and account types a client has, the more complicated their tax picture can become. Add to that the variations between state and federal tax laws, and the complexity increases further. Now we have clients with much larger IRAs than in the past, and more investors who have Roth accounts with growing balances. There are many more products used today, and they are all taxed differently.

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Currently, authoritative DNS servers don’t see the client address, only the address of the resolving server that is typically operated by the client’s ISP. So in the current situation, if our Californian and Dutch clients both use a DNS resolver in New York, a location-optimizing authoritative DNS server would give them both the addresses of servers in or around New York. By including the client’s address in the request, the authoritative server can send a better response and improve the subsequent interactions between the client and server because the request/response round-trip times across the network are shorter. Late Wednesday evening, Google employees posted an « Internet-Draft » outlining proposed changes to the DNS protocol that allow authoritative DNS servers to see the addresses of clients.

Other wealth protection measures have also been more common amongst advisers including gifting (10 per cent), moving assets to an Isa (8 per cent) or Sipp (5 per cent) as well as moving unwrapped assets into investment bonds (4 per cent). CGT has also been in the spotlight with 27 per cent of advisers seeing a rise in CGT queries and 19 per cent seeing a corresponding increase in the number of clients looking to sell assets and realise gains before October 30. Infosys, India’s second-largest information technology services company, has said a few of its clients have sent queries on the rising attrition in the company, especially the exits of many senior leaders in the recent past. “For those who already have legacy planning in place, we are seeing more questions relating to some of our value-add services, which some investors include as a bolt on to their estate planning service. It’s about advisors educating the client on how the location of assets can affect the taxes they pay, not just now, but over their lifetime.

More on Budget

Advisers are seeing a rise in queries around pension taxation and wealth protection ahead of the Budget next week. “Some of the departures (of senior executives) are because of the fact that we are going through transition at the leadership level. Since co-founder N R Narayana Murthy returned to the company as executive chairman about a year ago, Infosys has seen 11 high-profile exits at senior levels. This is the first time the Bengaluru-based company has spoken about clients’ concerns on such issues.

This way, geographically distributed content delivery networks can tailor their answers to a specific client’s network location. So a client from California would talk to a server in California, while a client in the Netherlands would talk to a server in the Netherlands. The company said it was managing the void created by these exits by engaging with clients at multiple levels, such as those of chief executives, boards and vertical and regional heads. « Recursive Resolvers are strongly encouraged to conceal part of the IP address of the user by truncating IPv4 addresses to 24 bits. » Coincidentally, 24 bits maps directly to the minimum address block that can be carried in the Internet’s routing system.

Clients query Infosys on top exits, rising attrition

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As a result, advisers such as Jason Street, a senior wealth management consultant from Mattioli Woods, are spending more time dealing with estate planning. By understanding how holding certain types of investments in specific accounts can provide more after-tax income in retirement (up to 52 bps of after-tax income according to Morningstar’s report « Alpha, Beta, now Gamma »), they can achieve that goal. RBC advisors say they are fielding more questions from clients on how to make their investments as tax efficient as possible, prompting the firm to spend more time on education about these strategies. “What’s clear is that the level of uncertainty created ahead of the Budget has real-world consequences. Given one of the key promises made by the new government was to deliver economic stability to Brits, Reeves should use her Budget to nip this issue in the bud by pledging not to make major changes to either pension tax relief or tax-free cash.

Advisors Fielding More Client Queries About Taxes and Retirement

Advisors are paying more attention to the tax bracket their clients fall into (or will be in), the type of accounts they have (taxable, tax-deferred, tax-free) and the amount of assets they have in each of these accounts. Not placing muni bonds in an IRA account or putting dividend-paying stocks in taxable accounts are a few examples. Uncertainty around what Rachel Reeves may announce has led to masses of speculation including rumours of a potential flat rate of pension tax relief and changes to pensions tax-free cash. Internet-Drafts are working documents within the Internet Engineering Task Force. Drafts live on the IETF servers for six months and are then deleted, so authors must post updates twice a year. If there is interest and no technical objections, a draft may progress to become an RFC (Request For Comments).

The bar is relatively low for « experimental » and « informational » RFCs, but much higher for those that are intended to become Internet standards. Likewise, the firm has also seen an increase in enquiries into group life insurance which covers inheritance tax (IHT) liabilities from day one as opposed to the usual two-year qualifying period for business relief investments. This makes it easier to tailor their investment recommendations based on the accounts the clients have, along with not having to recreate the wheel every time they put recommendations together. With these assumptions, the advisor can then prioritize where different assets should be located based on the level of assets that the client has in each of these different accounts. For example, if the client is in a high tax bracket, yet all or a majority of their assets are in IRAs, the advisors likely won’t recommend municipal bonds. Greg Steiger, manager of retirement income planning, describes how RBC is arming its advisor force with guidelines, tips and best practices in order to assist clients.

Although many organizations have DNS servers that serve up different answers to internal users than to external users, this practice isn’t held in high esteem by those in the IETF who care about the Internet’s architecture. “​Most questions have been about the impact of the market falls on their investments and the knock on impact this may cause to their plans. But as the weeks have passed, clients have become more acutely aware of their family’s mortality and this has led many investors to review their finances. We generally try to give them an idea of what assets typically fit best in each type of account.

Carrying any more than that won’t help solve the network distance problem using the routing tables. For IPv6, there is no corresponding number that everyone agrees to, but the authors of the draft suggest truncating IPv6 addresses as well. Of course, the owner of the authoritative DNS server still gets to see the client’s full IP address when the HTTP request for the actual content is sent. Strategically, they must consider the overall asset allocation and the investments that fit within that allocation and the accounts where these assets fit best. Taking pension tax-free cash (33 per cent) and increasing pension contributions (16 per cent) were reported by advisers to have become more common amongst clients in response to Budget speculation. He, however, said the exits of senior business leaders wouldn’t have any material impact on client engagements, adding client satisfaction was at the levels seen earlier.

• If there is interest and no technical objections, a draft may progress to become an RFC (Request For Comments).
• For example, if the client is in a high tax bracket, yet all or a majority of their assets are in IRAs, the advisors likely won’t recommend municipal bonds.
• Regardless of the market environment, this strategy can add to a portfolio by maximizing the tax advantages that are inherent in various account types and matching those advantages with the characteristics of the underlying assets.
• Strategically, they must consider the overall asset allocation and the investments that fit within that allocation and the accounts where these assets fit best.

More on Inheritance tax

Chief executive and Managing Director S D Shibulal has said he will retire from the company before January 2015. It’s too early to make guesses about the success of this effort at the IETF, but Paul Vixie, well known as the original author of the BIND DNS software and no less for his strong opinions, set the tone in a message to the IETF DNSEXT mailing list. « if we’re going to add client identity to the query, can we do so in a more general way? i’d like to know lat-long, country, isp, language, and adult/child. »