Exactly how the newly approved tax reform bill will affect you and yours may not be crystal clear, but it's never too early to see where you stand. In other words, you don't have to wait until tax season.
Derek Anthony is vice-president and manager of Charles Schwab's La Jolla and Rancho Bernardo branches. "Whenever you have legislation like this," he said of the reform bill, "it's a great time to sit down with your Charles Schwab financial consultant to review your financial plan and potential tax implications. We're looking at a lot of what-if's at this point, but it's good to start the dialogue."
Anthony heads an eight-person team in the La Jolla office, which besides himself, includes four financial consultants, a junior consultant and two operations specialists. He said the overarching strategy for assisting clients is very proactive.
"Clients may not think about it (their tax situations) year round, but we're thinking about it for them all during the year. A lot of people are so busy with their careers or living in retirement or traveling that they stop paying attention. That's when they turn to us to help keep them on track. We call them proactively and tell them it's time to sit down and review their investments, or that there are some potential things that may be changing tax-wise, or to talk about charitable gifts or review their estate plans."
The Charles Schwab approach is full-service. "We talk about not only investment management," said Anthony, "but we talk about estate planning, tax planning, debt management, charitable donations and retirement planning. For a lot of our clients in La Jolla who are retired, we're making sure that they're doing the required minimum distribution from their retirement accounts and making charitable donations.
"We focus on doing what's best for the client and being the most useful and ethical financial service company in the world."
Anthony just marked his 20th year with the company, and pointed out that longevity with Charles Schwab is not unusual. "We're a rare financial institution in that a lot of our employees have been with the company a long time, and I think that helps maintain a culture of taking care of our clients and always acting in their best interests."
Anthony is a Bird Rock resident and, like the Charles Schwab office, which has been open for more than 20 years, entrenched in the La Jolla community.
"La Jolla's our home," said Anthony, "and one of the goals I have for myself as a manager is to get ourselves even more visible in the community."
Charles Schwab offices are at 7777 Fay Ave., Suite 105, in La Jolla. Hours: 8 a.m. to 5 p.m., Monday-Friday. (858) 551-6315. schwab.com
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