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Article Excerpt
This historic market downturn is instilling in people a fear of volatile markets--and making wealth preservation and recovery key issues. As trusted advisers, what can CPAs say and offer to clients? Plenty.
First, CPAs (or qualified CPA.PFS or CPA/CFP) should determine if a client's investment assets are in line with their goals and objectives, as well as risk tolerance.
The decision on whether your client needs to take any action might center on:
* A need to sell assets to raise cash for an intended purpose in the short term;
* A determination whether, after a significant downturn in markets, circumstances exist for the investment portfolio that were not present when the asset allocation was conceived, making the allocation inappropriate; and
[ILLUSTRATION OMITTED]
* Whether the portfolio is invested so significantly different when taking into account goals, investment objectives and risk tolerance, an action to change the portfolio should be taken.
Keep an investment strategy simple for clients so they can understand and be clear about what risks they are...
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