Many investors are looking for more integrated solutions to help them manage their portfolios more efficiently. The goal is to minimize the overall tax burden while maximizing after-tax returns. With tax playing a significant role in investment portfolio performance, what can investors do to minimize taxes and transaction costs to achieve their desired investment results?

In this episode, Jack Sharry talks with Amanda Lott, Head of Wealth Planning Strategy at J.P. Morgan Private Bank. In this high-impact role, Amanda drives the firm's training, content, and strategic approach to help clients articulate their most meaningful intentions and align their resources to these priorities. She believes that helping individuals with sound decision-making gives them financial peace of mind and the freedom to live their best lives.

Amanda talks with Jack about how she works on the key areas of financial planning, why smart asset location is important, and how she helps advisors embrace complex planning techniques.

Key Takeaways

[00:58] - Why Amanda chose to study financial planning.
[02:17] - How Amanda got into J.P. Morgan Private Bank.
[05:40] - How Amanda works on the key areas of financial planning.
[07:05] - Amanda's high-impact role at J.P. Morgan Private Bank.
[10:18] - What goes into developing a J.P. Morgan Private Bank training program.
[12:11] - Why tax efficiency is more achievable than tax alpha.
[16:48] - How Amanda gets advisors to embrace complex planning techniques.
[21:37] - Some of the big projects J.P. Morgan is working on.
[27:31] - Three key takeaways from Amanda.
[29:22] - Amanda's interests outside of work.

Quotes

[13:55] - "With the evolution of the annuity space, being able to offer a low-cost option, and get more of your taxable dollars into a tax-deferred environment, presents a tremendous opportunity for advisors to deliver smart asset location advice to ultra clients." ~ Amanda Lott

[27:54] - "We need to make sure there’s a baseline planning knowledge for all advisors, so they can deliver consistently and ultimately add value because that's where the industry is headed." ~ Amanda Lott

[28:29] - "Technology is never going to replace the advisor. But it's got to complement them, making them more efficient and effective." ~ Amanda Lott

Links

Connect with our hosts

Subscribe and stay in touch

Ep. 129: Garbage In, Garbage Out – Getting Your Client Data in Good Order with John Mackowiak