Here's a way for financial advisors to strengthen their client relationships: Start a chat about the legacy your client would like to leave for heirs.
Such was the focal point of a panel Wednesday at the TD Ameritrade National LINC conference in Orlando.
"There is an opportunity for you to get into that conversation," said Michael Cyrs, a panelist and director of wealth advisory at Savant Capital. "It's a people conversation: You don't have to follow the estate-tax nuances we were dealing with in the past."
The Tax Cuts and Jobs Act has opened the door for financial advisors to have more meaningful conversations with their clients about their legacies – and to team up with estate-planning attorneys to update plans.