Got an email from a client irritated that I sold 2 holdings for about a 1000 capital gain. She didnt realize I could trade in these 2 small joint accounts with their kids, didnt know I sold, and had

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Irritated over a little $1k cap gain? As in...like a max $200 out of pocket to the IRS?

Not sure how paying $400 to a cpa helped things but okay....

I think you just reset the relationship maybe over lunch or something. Apologize even though you really shouldn’t have to...and then see where it goes. Breakdowns in communication like this are tough to take sometimes because as an advisor....you were just doing your job

Good luck.

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Perfect. This is what I felt too.

To hire a cpa at $400 to figure it out. My response was just to say sorry for the confusion and said I'd reduce the next fee by $400. They're nice people but I dont know what to make of this. They see the accounts online, have statements and confirms, and could've called to ask me. I didn't bring this up now because I didn't want to seem defensive so I'll try to weave this in somewhere else in time. I do feel a little defeated though. It's how it goes. Just a tough bullet to take for such a small dollar amount.

Do you have discretion over those accounts? Does the client pay you a management fee to manage those?

Good. You are fine. Pls ignore the other post.

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Why did she need a CPA?

OP - are those discretionary/managed accounts? If they are, then there is no issue, you were just doing your job and managing the accounts. It would be an issue if these are just regular brokerage accounts and the client directs the trades.

You should set the tone for your managed relationships by discussing a capital gain budget. Heaven forbid they own a mutual fund in a year with excessive capital gain distributions

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