With less than a month left till the New Year, there is little time to waste in making sure your clients’ Required Minimum Distributions (RMDs) have been taken. It is hard for some of us to believe, but retirees have several possible streams of recurring income, so manual distributions are easy to forget. Those forgotten distributions carry with them a tax penalty of nearly 50%, so not taking the time to make a reminder phone call could potentially cost your clients a lot of money.
The great thing about calling your clients each December is that it offers you a great sales opportunity. The New Year presents a time to arrange insurance reviews, assist with preparing tax documents, and the like. If you make yearly client reviews a standard arrangement as a financial manager, rather than calling out of the blue asking to meet, your chances at both helping your clients maximize their wealth and maximize your sales increase. Call Davis Life & Annuity today to see our our Life Program Review can you end the year on a high note and get 2016 off to a great start.