TAMPs

It may sound like a lot to ensure that the kite stays in the air – but just as you can’t predict the weather 100% accurately, investors can’t predict the future or which stocks to choose or time the market. Because of this, it is important to know your desired risk tolerance, and invest in a portfolio that is rebalanced systematically to maintain that level of risk.

This buys Fed policymakers time, albeit limited, to evaluate the cumulative effects of what is now a 15-month long, 500 basis point tightening campaign. Markets are quickly turning their attention to the July policy meeting, following a hawkish post meeting press conference where Fed Chair Jerome Powell reinforced the potential for further hikes in 2023.

The key to success is to make thoughtful, vetted investment decisions that match your client’s portfolio risk to their risk tolerance and remain consistent over time. These rules are not new to financial advisors, but that does not mean that today’s investment platforms make them easy to implement. A digital wealth management platform helps you to accomplish these goals.

Most TAMPs are very similar and provide the software and tools needed for CPA Financial Planners to execute trading management, billing, reconciliation and reporting, client relationship management, financial planning, and more. That's why partner choice revolves more around expertise and the fine details.

The first generation of TAMPs were a timely solution for the newly independent fee-based advisors, yet they were rigid in structure. Early TAMPs controlled the direct relationship with the custodian, oftentimes resulting in inefficient communication and clunky custodial service for the end-user advisors and their clients.

The elite platform discussed a "pause" in the rate cycle in mid May and now sees inflation "higher for longer." That's the kind of market partner that every advisor wants on speed dial.

Only in the extreme case where every stock in the S&P 500 goes down or every stock goes up will SPY be as efficient in loss harvesting as a direct index. And of course tax loss harvesting is only part of tax management.