Read the Transcript Below:

Amber Kuhn  

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Tracy  

Hey, thanks for having me. Super excited to be here. 

Matthew Jarvis  

Hello everyone, and welcome to another episode of The Perfect RIA podcast. I am your co host, Matthew Jarvis, and with me today’s special guest, Tracy Lownsberry , who you might recognize, Tracy, if you’re one of the the unfortunate souls that follow me on LinkedIn, you know that I love to, like, just kind of poke at things. And I have to admit, I love other people who also poke at things, who are willing to be like, Hey, listen, I’m passionate about certain things, but I’m not afraid to poke at sacred cows. I’m not even afraid to call out things that I hold sacred. And so I was really excited when Tracy agreed to be on the show today. Tracy’s obviously very passionate about annuities, passionate about that side of the industry, but is also not slow to say, like, wait a second, that’s not actually what’s going on here. So Tracy with that hopefully positive introduction, man, welcome to the show.  Well. So for listeners who don’t follow you on LinkedIn, which everyone definitely should tell us a little bit about yourself, the work that you do inside of the annuity space, the work history, etc. Sure, yeah. So I tell people I’m super niched out, you know, super niched out annuity side. Love everything else as well, but annuities are my jam. So mostly what I do now is I focus on, obviously, bringing on the consumer side and helping on that way, the right way, but then also making sure that agents and advisors alike, they’re trained the right way. So we have a training platform and they’re educated and how they solve problems. If you’re not solving a problem normally, you’re creating one, is what we tell people, so be careful there. So just really big in that space. And obviously, like you had said, you know, LinkedIn is a phenomenal platform to be able to get out as much information as possible to a big agent advisor base. So we’re just really focusing on, like, let’s just, like, call a spade a spade and peel the veil, and let’s just talk about the things that make other people uncomfortable. I love it. I love it. I would call it real quick for our listeners, if you’re a listener and you’re like, wait a second, I don’t do annuities. I’m fee only. I’m whatever you’re telling yourself. It’s easy for that side of the industry is dismissive of what I’m just generally called the insurance side of the industry. Like, well, those guys and gals, that’s the old school. They don’t really know, but we need to remember, and I grew up tracing the insurance side of the world as well. This is the oldest part of financial planning. Like, insurance is, like, one of the oldest financial products that exist like we’re not talking about, like Roths or IRAs or 401 case, we’re talking about, like, hundreds of years, by some account, 1000s of years of annuities and insurance being a thing, and so it is really the foundation of all financial services. Now that doesn’t give it like a free pass that can do new ill, everyone can. But I think as advisors, are so much that we can learn from the insurance space, even if that’s not a piece that you’re focused in. But Tracy, to your point, you’re you’re super niche in there. You’re like, Hey, this is, this is where I specialize.

Tracy  

Yeah, absolutely. And you make a really good point. There’s a lot of advisors out there that are that are anti and what I’ve found is just, it normally comes from just a little bit of bias. Maybe it’s just a circle you’re in, whatever, it’s hard to argue. Maybe it’s just a bad experience, right? It’s hard to argue with math, in my opinion, and annuities are surround around math. But also, what I tell people is 95% of annuities suck, and 99% of the people selling them suck. So you know, you just gotta, you gotta do it the right way, and that there’s no short way to get there, other than being obsessed with it and understanding that you have to just pursue knowledge and education around every turn. And that’s a problem in this industry, that’s for sure.

Matthew Jarvis  

I love that lie you use. I mean, I’ve used it oftentimes with clients some similar version of like, Hey, listen, 90% of the annuities, or 95% annuities out there are really bad news, like, you should definitely stay away from and we can say a similar thing about reverse mortgages, or about a lot of invest like, there’s a lot of really bad fill in the blank. My job is to help you avoid all those bad ones, because, in fact, there’s some good ones. And I think I maybe I got this one from from you tracer or not. But, you know, there’s this old cliche in the industry, like, hey, if all you have is a hammer, everything looks like a nail, which is kind of like a line used against, you know, insurance, whatever specialty, yeah. But the converse is also true. Like, hey, if you’re seeing there’s this tool into a toolbox, and I refuse, I refuse to ever pick up. I will never pick up. You’re doing an equally bad disservice, right? If you’re saying, like, no matter what, no matter how bad someone needs a hammer, I will not grab the hammer, that’s an equally big problem in financial services. So I love trace. You’re like, listen, dude, I’m just gonna own this thing. Like, they’re so good, the bad, the bad, the ugly kind of zero, the good. So, so tell us, you not only are working with consumers, you’re also like work with advisors who better understand this stuff.

Tracy  

Yeah. So I found a while ago, you know, I was sitting in a conference, and I was listening to this guy as as a solo producer, and he was an advisor who’s licensed on that side too. You know, he was, he was, he was bringing in 50 plus million a year, you know, which is not easy to do, you know, that’s, you know, you’re putting yourself near the top there. As far as you know, a solo producer, 

Matthew Jarvis  

He’s bringing in 50 million of, like, annuity assets a year?

Tracy  

 AUM, and annuities together, yeah, per year, yeah. As a solo producer, that’s a, that’s impressive clip, massive. So I’m sitting there an audience. I’m list this guy, and he’s got some good nuggets. But then he starts talking, nuggets, but then he starts talking about some intricacies. And I’m like, what he’s talking about? Like, he’s doing a massive amount here, and he doesn’t even understand the basis behind what makes an annuity good or bad. And it was like, this big alarm that, like, triggered in me. And it was like, how often does this happen? So I started to kind of put my feelers out and reach out to people and connect with people, and what I found is like, Oh, this happens everywhere. You know, all these details that are missed foundationally, that advisors just don’t understand and agents don’t understand. So I started to community, and I started a program, and it was, it was really built upon. I’m already doing this for agents and advisors that work with me. Why not open it up to the public? In a sense, it just has grown massively. So it’s, I tell people this, it’s a loss leader for me, but it’s almost like a charity. But it’s addicting. It’s addicting to be able to sit down with an agent or advisor and just watch those gears start to turn and watch start to think, like, Oh my gosh. Like, you’re making a difference in my thought process that nobody’s ever really explained to me before. And it’s, it’s like, I said it is addicting. I think it gives me juice. 

Matthew Jarvis  

Yeah, no, no, I get I get that. I mean, that’s a lot of what this podcast is about, right? A lot of the work that you and I do on LinkedIn, it’s just like, hey, let’s, let’s create some artists. Tracy, can you think of some specific examples of that, where you’re meeting with an advisor or agent and what like, what’s definitely you’re able to help people see in this area. 

Tracy  

So there’s, there’s a definitely lot recently, and some of them, I would say, are a little controversial. But the big, the big one I see, is carriers with the company, right? Your guarantee is only as good as the company that’s guaranteeing it, right? You know, to go back to, like, private placements, right? So, like, there’s a lot of private companies that will say, yeah, we’ll guarantee you this, but it’s, you know, like, I wouldn’t trust you with my money. There’s no way. So I like to kind of look at the carrier first in the amount of premiums that are coming through. Some of the carriers not touch with 100 foot pole blows my mind. You know, no problem telling my LinkedIn. You’ll see me call carriers all the time. Yeah. You know, we look at like solvency ratings of carriers, like, if a solvency rating is bad, don’t touch that carrier, right? You can have a great rate of care with a really bad solvency, and people have no idea. So, you know, that’s a big one. And anything that’s kind of performance driven, you know, looking in the annuity space, and you start looking at performance driven, like income, right? Or performance driven, you know, buffered, or whatever, just really start to second guess what were some best case scenarios for your clients? Because best case scenario, it’s not doing 8% on average or 9% on average a year. Okay, that’s just not what they do. I’ve seen, I can count on one hand how many times I’ve seen 7% average over a 10 year period, let alone above that. So expectations I feel that advisors and agents have are clouded, and it’s clouded by, I think it starts at the carrier, and it goes to the internal killer, and then it goes down to whatever, IMO, FMO you’re a part of, I think it’s clouded, because they’re trying to push sales through, and it’s a big problem. 

Paul Saganey  

Yeah, for sure, it is. And again, I want to draw our advisors who are saying, Hey, I’m not an insurance license or I’m not interested in going down the space. This something you need to understand, because Tracy, as you point out, there’s a lot of bad not product is bad, but there’s a lot of bad product. As advisors, hey, listen, you can put all this index annuity, and it’s going to get 11% a year, the upside and none of the downside, and it’s guaranteed. Like as an advisor, you need to understand how these products work and also how they don’t. We cannot turn up a blind eye to this. Tracy, are you doing much in a speed of space these days, like I see a little bit more of this comment around because rates are so much higher. What insights can you give us there?

Tracy  

Yeah, so to be honest, no, but it’s not that I wouldn’t. It’s not that I wouldn’t. I love Spiers. Love to use They’re awesome. But I like the AI space, and I like the guaranteed lifetime withdrawal benefits, and they just seem to kind of be higher payouts right now, which is very interesting. So a lot of our clients, what we find is that we don’t, we don’t have a lot of clients that want income today. They want to make sure in two years, four years, six years. And when you start to compare, like an FIA with a deferred lifetime, with relevant versus a DIA or even a spea, they take the cake. It’s funny, they lower payout. And so net was lower payouts. You’re just selling that for a commission in an honesty, I would say that was probably true, you know, but now that they, they have these payout rates that are better, we like it. And the other side of that too is that when you look at a spear idea, you’re making a lifetime commitment in that, right? You are like that is a big commitment, at least, you kind of know, if you go the FIA with the guaranteed lifetime withdrawal benefit that if your life does change, right? Something happens. And we don’t want to go into this with that mindset of, oh, I’m going to get out, because it’ll be the worst investment you ever made, because they don’t grow for your app, right? But if you look at it that way, like, Oh, if something changes, I could potentially, you know, just take my money and run after my surrender period’s up. There’s benefits to that right for the right person. So that’s kind of what we look at. 

Matthew Jarvis  

That’s interesting, interesting, I think about sometimes we run into clients, right? They have big cash piles, or they’re just incredibly risk adverse, right? Yeah. And, you know, we can say, Well, hey, we need to compare the equity markets to, you know, FIA, but that’s not really a comparison, like, it’s really like comparing cash to an FIA, right? Because that’s really what the client’s doing. Instead, no clients like, Hey, should I invest in the s, p, or put it all in an FIA? It’s like, should I write in cash or but for those clients, like as advisors, I think we need a way of like, what are the options on the table now, Tracy, the version that I have when I look at my RIA practice, I’m again, I’d love to do some FIA stuff some of these writers, but it’s sort of like a pain. Like, what we if you’re talking about RIA guy like myself, like, what do you recommend? I don’t necessarily want to go back down the path of back down the path of getting an insurance license. Doesn’t park on the ends. Well, it doesn’t necessarily report well, like, how do I add that tool to my toolbox without going down this, this entire path?

Tracy  

Yeah. So we come across that quite a bit with advisors. We do normally see an advisor that would partner with somebody, right? So it’s like, okay, maybe, maybe I don’t want to learn this, so I’ll give you a great example. So recently, we were taking a pretty big account from a guy. It was replacing some annuities as well as some AUM stuff. And yeah, and this doesn’t happen often, but I always, always make sure that I am reaching out to that advisor and saying, Hey, listen, this is what we’re doing. Okay, if you want to have a conversation, let’s have a conversation. Like, I’m not trying to pull one over on you, right? Like, that’s just not my that’s not my style. So this guy, actually, we set up a call, and he had $160 million practice, five years away from retirement. Really liked annuities. And what he did was he just said, Tracy, you seem like a really good dude and, you know, annuities more than I do. And he said, Well, why don’t we just do this? Why don’t I refer you anybody that needs an annuity, or I think maybe would be a good fit. Why don’t I just refer them to right? And, by the way, we don’t do referral partnerships anymore, like very rarely we had a lot of other things going on. It just it can be hassle. So this one, I decided to take it on. And so with this guy, you know, he saw the benefit of not having to learn it and then referring it out to that kind of niche expert, and we just kind of split it. Now, he’s also licensed there. So if you’re somebody who’s not licensed there, then there’s, there’s, obviously you could, you could charge a flat fee, or you could charge a fee based on, you know, just asset total. I mean, you could do that. That’s fine, just knowing that I’m going to get a commission from it, right? So there’s, there’s ways to go about it, just make sure you’re talking with your BD or whomever to make sure following compliance. 

Matthew Jarvis  

That’s what I’ve done with my practice. I’ve got a couple of my practices episode Northwest, and when we run into those cases, like one of my top clients, they’re very concerned about long term care, very, very, very concerned, I would say, irrationally so. But we’ve had that discussion a lot of times. There’s just no way you’re there’s just no way you’re gonna ever spend that much money. And they said, No, we just want to absolutely know. Because they said they’re quite well. They said, Jarvis, can you guarantee us that we will not run out of money during long term care? No, I can’t. Like, we could imagine scenarios where you could any number of millions of dollars could be blown through. They said, Fine, we want to have a policy that guarantees us lifetime coverage. And I said, okay, cool. Like, here’s the pros and cons. It’s gonna be really expensive. Let’s find you a guy or a gal who can help you that, because, again, I don’t want to go down that path. And so yeah, we found somebody introduced them. Yes, that guy’s gonna get a really healthy coach, but that’s okay. That’s just how that industry works. The case the client had a need, which was, I have to be absolutely guaranteed I can never run out of money during long term care. And that was the only solution to for that. It just was it, right? So as an advisor, I put my head in the sand and I say, well, Tracy gets commissions, therefore he’s an evil guy, therefore I can’t talk to him. Only the client has lost here, like Tracy’s still up in northern Michigan, having a great time in life, and only the client has lost here, right? 

Tracy  

Yeah, you can’t, you can’t be against commissions, but I understand why. Oh, yeah, certainly been abused. Yeah, for sure. You know I would say more often than not. Actually, I don’t even say way more often than not, unfortunately. But like you said, it doesn’t make you a bad person, just because that’s how you get paid. It’s just you can still follow. You can’t you can’t regulate morality. You can’t regulate ethics, right? It’s just it’s almost impossible. So you’re going to do the right thing or the wrong thing, whether you get paid commission. Aum, flatbed doesn’t matter, right? Yep, so people need to understand that, yeah.

Matthew Jarvis  

And I think then you have an obligation as an advisor, however you’re compensated that when there are needs that you cannot meet for your clients that you have Tracy to your point, you found somebody who has the ethics and the morals that align with yours. Because, again, the regulation is not going to get it, and that could be everything from an annuity, to a long term care policy, to two even a mortgage, right? Like, someone’s gonna get a commission on that mortgage. Rather, it be someone that, I say, like, this person’s gonna work for you, versus Tracy, to your point, this person’s just looking for another and then the client be damned. Tracy. Other thoughts you you see a lot in this industry, again, primarily from the annuity side, but other things that we all should be aware of when it comes to the annuity space, or just, you just practice. And in general, I know you’ve got a lot going on, not just annuities. Give us some more insights here. Man, yeah.

Tracy  

So, you know, annuities, it seemed, when you start talking about the FIA space, specifically, which, which is a space that I do most my business, and that that index side tends to kind of go hand in hand and start conversations on the IUL side, right? Sure. And so, you know, we get a lot of people that ask us, and about them. You know, they see the tiktoks, they see the Facebook reels, they see the YouTube shorts, whatever. Again, I’m not anti but I am definitely a big skeptic. And I think perception and expectation are very important to understand here, right? So, like, as long as you’re setting the right expectation and you’re not blowing it up into something, it’s not then any product out there can be a good fit for certain people, right? The problem, again, is that ignorance is not a defense against events doing something wrong, and that’s what we see a lot people. They don’t know what they don’t know. But I’m sorry, but that’s that’s not a that’s not a defense like you. You have to look at this as, this is somebody’s hard earned money. This is, this is somebody’s entire, you know, retirement, right? You could really screw it up, you know, which, going back to, should you be securities license to do this? I am not anti securities license to sell annuities. I’m not. I think education, and that’s what it brings, is education, right? You’ll get a securities license, whether it’s a 6563 go get your CFP, CFA, whatever you go get any license out there. It’s just education, and then it allows you to do what you want to do better. So full disclosure, I’m not. People ask me all the time, hey, trace area security license. No, I’m not. We work a lot hand in hand with securities license, because you can’t understand annuities and you can’t position them appropriately without seeing the big picture, right? And if the battle I am never going to fight against, because I love securities. I love equities. I love, you know, I love that side of it’s amazing, but it doesn’t I’m not proactively seeking it, just because I’m not right. I’m not securities licensed, but I’m constantly trying to figure out, like, you know, last year, I spent a good part of the year. Really understands options and trading. So I wanted to see how insurance companies were trading, you know, within the index thing, right? Yeah, I really wanted to understand that. I wanted to understand, you know, bond yield to maturity rates and how that affects and, you know, understand the Barclays bond aggregate, and really just understanding a lot of these things that affect annuity companies portfolios, but also understanding, like, Okay, how do I know how an annuity fits if I don’t understand all the other tools, right? Like, I gotta know the other tools. So let’s put all them side by side and then compare them. And so I can lay it out to a client. Say, Hey, you wanted this safe alternative? Here’s a bunch of options, here’s the positives and negatives. Whichever one you want to go with, you can go with that. And we’ll bring in our securities guide, and he’ll build out a treasury ladder for you, or whatever more you can do it yourself. And I try to stay agnostic as possible. And I just had a couple leave my office. I threw, not threw away, but, you know, I could have probably made about 10 grand from them, you know, some things that they want to do. And I just told them, no. I was like, No, this is probably not a good fit for you. Just keep your money where it’s at. And then here’s some advice on where I would, what I would do with as far as far as withdrawals, you just don’t see it. You don’t see it often, right? 

Matthew Jarvis  

Yeah, I want to pull on a thread that you mentioned, Tracy, which is understanding the pros and cons, right? Whether we’re talking about index products or securities or money markets or anything like that. You know, one of our most important jobs as an advisor, whatever, whatever licenses or hats you have, is help clients understand the pros and cons as it relates to what they’re trying to accomplish, right? And I think where I’m going to speak kind of just to the RAS, where a lot of RAS go wrong is they just say, Listen, all insurance products are bad. Well, that doesn’t help the client, right? So if a client comes in and they watch the 1000 tiktoks on how it indexed, annuities, gonna give them all the upside and none of the downside, and if you just your responses, well, that stuff is crap. That’s not helping the client is not positioning you as an expert. But if I could sit down and I can say, Hey, listen, like, let’s talk a little bit about how this works. Like, how is the insurance company able to give you so much of the upside, and how I’ve I have no idea. Well, neither does anybody else actually, you know, like, or cap rates is another one, right? So this is, I think Tracy would probably kill the same bandwidth. You know, hey, year one, this cap rate’s phenomenal, right? It’s a 12% cap rate, it’s a 15% cap rate, it’s 120% participation. Year two, it goes to nothing, right? And so that’s something I’ve always held. Instead of me arguing and saying, Hey, this insurance Tiktok experts really try to rip you off and say, Hey, what happens in year two, when the cap goes from 12% to 2% and we’re still stuck in this thing for 11 years, like, what happens there? Right? Then I’ve gone from saying this is a bad thing to asking questions. So Tracy, I’d be curious, what are some of the questions that you help clients ask, or help advisors help their clients ask in this space? 

Tracy  

So we can kind of talk about my process, and it’s a lengthy one, so I don’t want to go down that rabbit hole, sure, but what I will say is, if you get to the point where you’re having the annuity conversation or or maybe your clients wanted conversation, what I would tell them is, maybe it’s another advisor talking to them, maybe it’s an agent talking to them, whatever. Yeah, I would say, right. What are the contractual guarantees for me? Right? So if the contractual guarantees are so far apart from what that person’s expectation or maybe what they’re trying to pull me in on what the expectation is, that’s a problem, right? So I personally, I like to take the philosophy that you should look at annuity as you know, if you’re not going to purchase it based on the guarantee, you shouldn’t purchase it, right? So whether that’s the guaranteed income rider or it’s a guaranteed death benefit rider or guaranteed long term care rider, if there’s a performance element to it, and that is what looks sexy to you, and the reason why you don’t purchase it, you should probably walk away. And it’s the same thing with an advisor, really, right? Brilliant. So if you’re an advisor and you’re working with a doesn’t matter, an RIA, you’re working with an IMO, or FMO, whatever, and they’re showing you these numbers that look really good, but then you get to that guaranteed, contractual, obligated illustration, and it’s like, wow, that looks really terrible. Then you need to start asking questions, right? Like, why is that so far apart there? And it all comes back to that performance element. If the performance element is the driving force behind that product, you should probably run away, because annuity. Away, because annuities are not meant to be performers in that way, right? They’re meant to give you safety, maybe bond alternative, savings account alternative and, well, in some cases, they’re designed to give you an internal rate of return, right? That’s kind of how they’re designed. So if you can’t sell it on the IRR and you can’t sell it on the guarantee and you can’t sell it on what’s problem it’s solving, like I said to you before, it’s creating a problem.

Matthew Jarvis  

Tracy, what you’ve just highlighted here is just like, the absolute brilliance of why like talking to insurance guys, just to use broad generalization, because you were just able to take this incredibly complex topic, right? I mean, second ago, we were talking about option strategies and how this works on solvency rates, and you just boiled it down to, like, if we wouldn’t buy this strictly on the guaranteed value, we probably need to stop the discussion there. Like, and again, I’m not trying to smoke your direction. Like, I love these things are just so simple. Instead of, I’m not arguing cap rates. I’m not arguing what index they’re tracking. I’m not arguing this time. All right, this is what the insurance company is guaranteeing is going to happen. Annuities, insurance products are primarily about guarantees. If we don’t like the guarantee, we probably don’t want this product, like, the whole disk. I don’t have to watch 100 Tiktok videos to realize that she’s like, all right, if we don’t show me the guarantees, right? Like, have them send me the illustration, show me the guarantees. And if we don’t like the guarantees, that’s just kind of the end of the discussion, because if we’re going to go on non guarantees, then it’s, it’s not the right product. Tracy, it’s brilliant, man, I think that was right there. Like, I could just mic drop this thing and be like, Tracy, I’m good. Like, this was, this was a perfect podcast. Thank you for sharing that. Yeah, absolutely. I feel like we could riff for hours on this thing, Tracy, but give us just, just couple other pearls of wisdom. What are some action items? So for our listeners, like, what are things that I could be doing that are that all of our 1000s of listeners could be doing based on this, this episode, of course, and how do they learn more about you? 

Tracy  

Yeah, so I will give two right off again. So I’m a big fan of communication and I’m a big fan of mindset. So there are two books that I recommend. So the first one is Mindset by Dr Carol Dweck. Read that one. A phenomenal book, one of my favorites, yeah, one of my favorites kind of completely changed, yeah. And what I love about it is like, it’s not, it’s not a negative based on your mindset. It’s more about like, the perception and perspective of mindset and understanding it. So I really like it. And it’s an easy, pretty easy read. Yeah, it is. And then the other one is positive words, powerful results, by Hal urban, okay, not familiar with this one. More time, positive words, powerful results by Hal urban, he might be a doctor too. So that one just changed the way that I communicated with people positively. And I can be somebody and I sometimes ever revert back to my old ways, but I can be somebody who can be kind of a negative Nancy in the way that I talk to people, sure. So that book opened my eyes, and maybe it’s a time for me to reread it now, it opened my eyes on how to communicate with people from a positive light, and just watching people change that the way that they communicate is a pretty cool thing to see. So definitely read that one. 

Matthew Jarvis  

I appreciate the recommendation. That’s definitely a place where I could do some work as well. And then, of course, Tracy, how do advisors learn more about you and your LinkedIn? 

Tracy  

Yeah, LinkedIn is a big one. So LinkedIn obviously follow me on there. Messages me if you have any questions. I’m on the mission to train and help advisors. But you know, we have a training platform too. If you want to look us up, it’s just the annuity giants.com we host a platform that has a very, very low barrier of entry, so that anybody can kind of come in and learn. And it comes with a community as well. It’s actually a Facebook group. Comes with a community as well as an entire dedicated platform, weekly training, all sorts of stuff. 

Matthew Jarvis  

Yeah, and I would ask for action. I would second that, right? Whether you do Tracy’s platform or some other wherever you are on insurance, I feel it’s been kind of the theme of this podcast, whatever your license that you need. This is such a common topic, such a major piece of client’s life, you need to really understand this stuff. You can’t stick your head in the sand and say, Hey, I’m a fee only RIA, therefore I’m not going to worry about these things. No, no. This is part of comprehensive financial planning. One of the most people reads words there is, you’ve got to understand this stuff. And just like this episode, I mean, that was a legitimate like gold mine that you gave me. As far as this, the guarantees thing, there is so much that they are earned from the insurance side of the business. Don’t, don’t pass up that opportunity so Tracy, hey man, thank you so much. I look forward to another episode. Thank you for the book recommendations all of our listeners until next time. Happy planning. Hey, before you leave a quick word from our sponsors. Hey everybody, I want you to take a quick look around your office and on your desk there should be the Retirement Tax Services, Desktop Tax Guide, and if it’s not there, or if it’s not current, meaning you didn’t download it in the last month, go to retirementtaxservice.com and download the desktop tax guide. This is a must have resource for every financial advisor committed to tax planning.