Clients Cashing Out?

, By Edward J. Finley II & Anton Pil

By Edward J. Finley II & Anton Pil

What do clients do with the cash when they receive large cash payments from, say, the sale of a business or a significant asset, such as a house or a work of art? You probably have advised them on designing and implementing cutting-edge tax and estate-planning techniques to maximize the cash proceeds of the transaction. But are you sure that your client is advised on how to handle the cash?

We find that all too often these clients park their money in low-yielding checking accounts until they need it elsewhere. Lately, market conditions — and headlines wailing about financial dislocation — have exacerbated the fear and confusion that lead clients to make this choice.

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