Roth IRA conversions

Not all trust prospects have income over $100,000, especially when you move away from the coasts. But many, many people who have incomes over that amount are trust prospects, and they are about to have a chance to convert their traditional IRAs to Roth IRAs for the first time, come January 1.

Should they do it? There are pros and cons, no easy answers. But about three quarters of the high earners plan to the question to their financial advisors, according to a new survey from Schwab.

What's more, reports Bank Investment Consultant magazine:

Respondents cite a lack of certainty about the benefits of a Roth IRA and confusion over the pending conversion rule as reasons for consulting a financial advisor. Of the 400 Americans with incomes of $100,000 or more surveyed, only 14% say they are extremely confident in understanding the Roth IRA conversion rule changes in 2010. Another 49% indicate that they are going to consult a tax planner.

That sounds like a trust marketing opportunity to me, an excellent reason to talk to rich people who are willing to talk to you. Merrill Anderson is preparing relevant marketing material for you right now.