If clients feel they have to be doing something now, rather than biding their time, the panel noted that conversions from traditional to Roth IRAs could be advantageous, especially for younger and high-net-worth investors. Some investors may want to consider creating a grantor retained annuity trust (GRAT), a financial instrument used in estate planning to minimize taxes in the future.
Evans said her firm also is helping clients plan for the waiver of required minimum distributions for this year, meaning they can leave more money in their portfolios.
“There also is a huge dislocation in the bond market. For those clients who have cash available, we have been taking advantage of this by buying layered bonds,” she said.
Educating clients is of primary importance right now, panelists said. “We want to remind them they need to take a long-term perspective,” Evans added.