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Meticulous Attention to Detail is Value-Added Retirement Service
Details matter. That’s a lesson learned the hard way by many investors. “Decisions that may appear inconsequential to the untrained eye can cost investors dearly. Without a knowledgeable advisor who is willing to carefully evaluate your entire financial position, investors can be subject to unnecessary taxes and erosion of assets. Perhaps worse, the wealth they built over a lifetime might not be bestowed to the people or causes they hold dear,” explains David McAdams, president of McAdams Tax Advisory Group, LLC in the Greater Memphis Tennessee area.
“Our goal is to help clients achieve safe, secure income that won’t go away and make sure they are leaving the legacy they envision.”
Unfortunately, most financial advisors simply don’t have the ability to identify the many legal traps that are so easy to fall into, putting their clients’ assets in harm’s way. Those who do are rarely motivated to spend the hours it takes to find problems and develop solutions. Investors who want that level of service could pay up to $10,000.
McAdams, a financial educator, Investment Advisor Representative, and accountant, is one of few in the industry to include review of wills, estate plans, social security forms, insurance policies, and other documents. He has decades of experience ferreting out conflicts and inaccuracies in important documents.
New clients who have had previous experiences with other advisors usually notice the difference immediately. Many of McAdams’ clients have shared with him that previous advisors didn’t know or care enough to delve deeply and spend the time required to fix their problems.
“If you are talking to an advisor who wants to sell you an investment without regard to your age, income, and health and without careful consideration of tax implications, get up and walk away,” says McAdams, whose practice is truly independent. McAdams, Gary Osing, George Coules, and Richard Burt are free to recommend solutions based solely on the clients’ best interests.
Trained in accounting, McAdams brings 22 years of experience reviewing thousands of tax returns. “A new tax client of mine wondered why his planner hadn’t taken full advantage of tax laws that would have reduced his tax burden. The lack of planning by his former advisor cost him over $25,000 in unnecessary and avoidable taxes. The answer is simple. Tax laws are complicated and shift with every political wind. Only professionals who specialize in this area have the time and resources to stay abreast of these changes.”
An independent advisory group specializing in issues concerning retirees, McAdams Tax Advisory Group is particularly attuned to common mistakes that would be calamitous for retirees. “We see more mistakes made in income planning than any other area,” says McAdams.
The timing of withdrawals after retirement also has a dramatic impact on the retirement nest egg. According to McAdams, losses to your portfolio in the final few years before retirement or shortly thereafter can plunder a lifetime of disciplined savings. Just a couple of years of bad returns during the withdrawal phase could be catastrophic.
“Income planning, tax planning, and estate planning are our primary focuses,” says McAdams. “Our goal is to help clients achieve safe, secure income that won’t go away and make sure they are leaving the legacy they envision.”
McAdams Tax Advisory Group is a tax and financial planning firm located in Cordova, TN. David McAdams and his team of financial professionals offer a wide range of financial services which include:
As Seen in Kiplinger’s Personal Finance
McAdams Tax Advisory Group, LLC
98 Timber Creek Drive
Cordova, TN 38018
Visit us at Financial Service Directory