Author: Robert O’Hara III, CFP®, CRPC®

We’re proud to share that Rory O’Hara, founder and senior managing partner of Ausperity Private Wealth in Moorestown, NJ, was recently featured in Financial Advisor Magazine’s article “How to Win Clients in a Down Market.”

In the article, Rory offers valuable insight into how market uncertainty presents a unique opportunity for advisors to build trust and long-term relationships. Instead of offering louder opinions during volatile times, he emphasizes the importance of providing clarity, leadership, and a well-defined process.

Let’s take a closer look at Rory’s key takeaways from the article.

Uncertain Markets Are Ideal for Earning Client Trust

While challenging, uncertain markets are a perfect opportunity for financial advisors to build deep client trust. 

During these volatile times, clients are most vulnerable and seek clarity, empathy, clear communication, and steadfast guidance, allowing advisors to demonstrate their value beyond just returns. 

Rory punctuates this concept in the article by sharing, “Clients don’t need louder opinions—they need clarity, leadership and a trusted process. Communication becomes the most powerful tool.” 

Clients Need Clear Communication, Not Noise

Clear, intentional communication is a powerful tool.

Especially during periods of market uncertainty or significant life changes, clients don’t need a constant barrage of general market news or irrelevant data. 

What they truly need is simplified explanations of how current events or investment strategies directly impact their specific financial plan. 

Flooding them with “noise” like generic newsletters, complex jargon, or unsolicited market commentary without personalized context only creates anxiety, confusion, and erodes trust. 

Savvy advisors like Rory O’Hara understand the significance of customized guidance.

Listening, Educating, and Guiding Are More Important Than Ever

The core tenets of wealth management (listening, educating, and guiding) are paramount. 

Clients are seeking empathetic ears for their unique concerns, clear explanations of complex market forces, and confident direction through uncertainty, far beyond mere transactional advice.

“Not only do people seek direction,” Rory explains, “many prospective clients may be particularly open to strong, differentiated guidance.”

Essentially, it’s critical to maintain a relentless client focus by paying close attention to what clients are most concerned about and taking the time to educate them on topics like the normal fluctuations of market cycles. 

A Steady, Empathetic Approach Reinforces Long-Term Value

When market turbulence hits, or personal circumstances shift, clients often face heightened anxiety and the temptation to make impulsive decisions driven by fear. 

Rory tells us, “Market turbulence isn’t a setback for advisors; it’s a stage to prove your worth and build relationships that competitors can’t replicate.”

By offering reassurance, demonstrating unwavering commitment to their long-term plan, and acknowledging emotional realities with empathy, advisors like Rory move beyond being just investment managers to becoming trusted confidantes, solidifying a relationship built on resilience and proving the enduring worth of strategic, personalized guidance over fleeting market fluctuations.

Let’s Talk About What Matters to You

At Ausperity Private Wealth, we believe clients deserve a steady hand and a trusted partner through all of life’s changes. That’s why Rory O’Hara and our team stay focused on listening closely, educating clearly, and offering guidance that’s both strategic and personal.

If you’re looking for a long-term partner who brings clarity and care to every conversation, we’d love to connect.

To schedule a meeting, call (856) 252-0102, email [email protected], or book online here.

About Rory

Rory O’Hara, CFP®, CRPC™, is Founder and Senior Managing Partner at Ausperity Private Wealth, an independent wealth management firm based in Moorestown, New Jersey, dedicated to helping clients preserve and grow wealth and transition their financial legacy for generations to come. Rory founded Ausperity Private Wealth in 2021 after feeling constrained at Merrill Lynch and seeking more limitless opportunities to help people manage their finances. With over 15 years of experience as a wealth advisor, Rory focuses on guiding Baby Boomers through the next phase of their lives and helping high-income Millennials pursue their long-term financial goals with confidence.

Prior to establishing Ausperity, Rory led his own team, The O’Hara Group, at Merrill Lynch Wealth Management. He was a member of the exclusive Merrill Lynch Advisor Growth Network, where he taught advanced financial planning strategies to other advisors. His commitment to excellence in financial planning has earned him multiple accolades, including being recognized by Forbes as a Best in State Wealth Advisor in 2021 and 2023* and ranking on the Forbes Top Next-Gen Wealth Advisors Best-in-State list* multiple times. In 2022, Rory ranked #5 on AdvisorHub’s 25 Next Gen Advisors to Watch list**, and in 2023, he was nominated to AdvisorHub’s 100 Advisors to Watch Under $1B**. Most recently, he ranked #89 in AdvisorHub’s 1000 Advisors to Watch list, 250 Under $1Bil for 2024.

Rory holds a degree from Villanova University and is a CERTIFIED FINANCIAL PLANNER® professional, as well as a Chartered Retirement Planning Counselor™. Outside of the office, Rory enjoys spending time with his wife and four children, playing golf, and cheering on Villanova basketball. He is also a proud board member of The Cathedral Kitchen in Camden, New Jersey, where he serves as the Chair of the Fundraising Committee. To learn more about Rory, connect with him on LinkedIn.

*Forbes Best-In-State Wealth Advisors (2021, 2023) & Top Net-Gen Wealth Advisors (2018, 2019, 2020, 2022), created by SHOOK Research. No fees were paid to be considered or to hold out marketing materials. Not indicative of advisor’s future performance. Your experience may vary.

**AdvisorHub’s 25 Next Gen-Advisors to Watch (2022) & 100 Advisors to Watch Under $1B (2023), created by AdvisorHub. No fees were paid to be considered or to hold out marketing materials. Not indicative of advisor’s future performance. Your experience may vary.

**AdvisorHub’s 1000 Advisors to Watch Under $1B (2024), created by AdvisorHub, created by AdvisorHub. No fees were paid to be considered or to hold out marketing materials. Not indicative of advisor’s future performance. Your experience may vary.

Rory O’Hara

Forbes Councils Member

Forbes Finance Council

COUNCIL POST| Membership (fee-based)

Rory O’Hara, CFP®, CRPC®, is the founder and senior managing partner at Ausperity Private Wealth.

Many adults will, at one point, inherit an IRA. Most, however, lack a basic understanding of the rules and potential tax ramifications associated with assuming control of such an account. That’s hardly a surprise.

For one, the topic is steeped in minutia, involving complexities that even many financial advisors fail to understand fully. Another issue is that it’s linked with death, which is an unpleasant reality of life, often causing some to keep anything related to it at arm’s length. (This also explains why many people don’t have a will or an estate plan.)

Overall, everyone needs to understand the potential consequences if an inherited IRA gets liquidated too quickly (taxes!), along with the fallout if it doesn’t happen soon enough (penalties!). But there are some other intricacies to keep in mind, too. Here is what to look for and how to avoid potential pitfalls with inherited IRAs.

Traditional Versus Roth IRAs

Most people appreciate that traditional and Roth IRAs are taxed differently. But as a reminder, the latter consists of after-tax assets, which can accumulate in value and are not taxable upon withdrawal. Meanwhile, the former gets funded with pre-tax dollars. Those also accumulate in value but come with a variety of tax obligations.

These rules generally apply to inherited IRAs as well. For non-spousal beneficiaries, it’s pretty simple if you inherit a Roth: You have 10 years from the original owner’s death to liquidate the account. There are no required minimum distributions (RMDs), and, again, that money is tax-free.

However, if you inherit a traditional IRA, things are more nuanced. The key question is whether the account owner was taking RMDs.

If so, you also must take RMDs (based on your life expectancy) and liquidate the account within a 10-year window. If the original owner of the traditional IRA was not taking RMDs when they died, you don’t have to take them either—but the 10-year rule still applies.

(Note: Spousal beneficiaries can roll an inherited traditional IRA into their own preexisting traditional IRA, thus potentially delaying RMDs. Also, it’s possible to roll an inherited Roth IRA into their own preexisting Roth IRA, which would allow them to avoid the 10-year rule.)

Investment Decisions

The disparate tax treatment outlined above may also color how heirs invest within their inherited accounts. In general, a Roth IRA offers the opportunity to be more creative, while a traditional IRA calls for some caution.

For example, let’s say an heir who is relatively young and financially secure inherits a Roth IRA from a parent. They could add some growth-oriented holdings, allow the entire balance to accrue for 10 years and then withdraw everything tax-free.

On the other hand, since traditional IRA withdrawals are taxable, a more conservative, balanced approach typically makes more sense. Moreover, it’s probably a good idea for most heirs to draw down the balance annually (even if they aren’t subject to RMDs). Otherwise, they could be on the hook for an outsized tax hit at the end of the mandatory 10-year liquidation period.

Generational Planning

IRA owners don’t have to give IRA assets to their heirs directly. Notably, many high-net-worth investors make a trust the beneficiary, an avenue that provides them with greater control over how the assets are managed—which can give them peace of mind.

Via a trust, it’s possible to impose limits on when and how proceeds from an account get distributed (hopefully in a tax-efficient manner). In some instances, this approach will give heirs time to develop the patience, knowledge and humility to handle a sudden influx of cash responsibly.

Even without a trust, heirs can benefit from adopting a trust-like mindset—viewing the inherited funds as a long-term resource rather than a prize they can spend profligately. This perspective can help avoid mistakes stemming from poor tax planning or impulsive financial decisions.

Indeed, most financial advisors will tell you that people are far more cautious with the money they have earned and saved than a windfall they’ve inherited. It’s partly why generational wealth can be hard to preserve.

Professional Guidance

When it comes to inherited IRAs, one size rarely fits all. Professional financial advice is invaluable given the assorted number of tax rules, timelines and investment strategies. Working with a knowledgeable advisor helps ensure you make decisions tailored to your specific needs and goals—preserving and growing the wealth entrusted to you.

The bottom line? Don’t go at it alone. The right guidance can make all the difference in turning inherited assets into a meaningful legacy.

The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.