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Lost in Translation: The Financial Advisor's Game of Telephone

Remember the classic childhood game of telephone? One person whispers a message to the next, and by the time it reaches the last person, the original message has hilariously transformed into something unrecognizable. Funny as kids, but in the world of financial advice, it’s far from amusing.



Here’s a scene that might feel familiar:


A client calls their financial advisor to discuss selling some investments. The advisor realizes that understanding any available tax loss carryforwards is crucial and asks the client to reach out to their CPA:



"Please ask your CPA if you have any tax loss carryforwards from prior years that we can use to offset potential gains from this sale."



The client, not being an expert in financial or tax terminology, misunderstands the request and calls the CPA with a slightly different question:



"My advisor wants to know what my taxes were last year."



The CPA, trying to be helpful, looks up the client’s file and replies:


"Your adjusted gross income (AGI) last year was $150,000."



The client relays this back to the advisor, who immediately realizes something has gone wrong. Tax loss carryforwards? Completely missed. The advisor then has to call the client back, clarify the terminology, and start the whole process over again, wasting time and risking missed opportunities.



This isn’t the advisor’s fault. It isn’t the CPA’s fault. And it definitely isn’t the client’s fault. The real issue is the system. Clients are often left as the go-between, mediating complex, technical conversations between professionals without the knowledge or tools to ensure accuracy.



At WealthTeamWork, we believe it’s time to retire this outdated system. Our compliant collaboration platform allows financial advisors, CPAs, estate attorneys, and insurance agents to work together—securely and seamlessly—with clients at the center of the conversation, not stuck as the messenger in the middle.



It’s like giving the game of telephone a much-needed upgrade: clear, direct, and aligned communication that leaves no room for lost messages or misunderstandings.



Are you ready to end the financial game of telephone? Let’s talk!



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