Use the VisionWise Capital home page as the starting point, then use this review to organize the questions you want answered. For a related investor perspective, read this VisionWise Capital article.
The VisionWise Capital homepage provides additional firm context. The firm’s investment process is explained in the VisionWise Way.
A year-end review is more valuable when it asks what changed, what was learned, and which assumptions still deserve scrutiny. This checklist is built around that conversation. A related investor perspective appears in this VisionWise Capital article.
Year-end reviews for public portfolios are well rehearsed. Private real estate needs a different rhythm, because information arrives late, positions cannot be rebalanced, and several deadlines depend on sponsors outside your control. Organizing the work by month makes it easier to delegate and harder to miss something important.
Preparing for client conversations
Year-end meetings are where clients ask the hardest questions about private holdings: why a value has not moved, why distributions were lower, when the money comes back. Read each sponsor’s latest update beforehand and prepare a short, plain answer for every holding, especially the ones that are underperforming. Clients tend to accept disappointing news better than vague news.
VisionWise Capital was designed with advisors in mind. If you have clients in our offerings or are evaluating them, our team can confirm year-end valuation timing and tax document expectations for your planning calendar.
Advisors with clients in private real estate: Coordinate Year-End Planning With Our Team →
This checklist is a general planning aid for financial professionals. RMD, custodial reporting, and tax rules are summarized in general terms and depend on each client’s circumstances; confirm details with the client’s CPA and custodian. Past performance is no guarantee of future results. All investments involve risk and may result in loss. This material is for informational purposes only and does not constitute an offer to sell securities or a solicitation of an offer to buy securities.
For context, review Private Real Estate Reporting Checklist for RIAs, How RIAs Can Discuss Private Real Estate Liquidity With Clients, and How RIAs Can Evaluate Private Real Estate for Client Portfolios. Investors can compare that framework with VisionWise Capital’s approach to multifamily investing.
For independent investor education, see the SEC's investor.gov introduction to investing.
Use the VisionWise Capital home page as the starting point, then use this review to organize the questions you want answered.
A year-end review is more valuable when it asks what changed, what was learned, and which assumptions still deserve scrutiny. This checklist is built around that conversation.
Year-end reviews for public portfolios are well rehearsed. Private real estate needs a different rhythm, because information arrives late, positions cannot be rebalanced, and several deadlines depend on sponsors outside your control. Organizing the work by month makes it easier to delegate and harder to miss something important.
The calendar at a glance
The RMD problem with illiquid holdings
This item causes more real trouble than any other. Required minimum distributions, which currently begin at age 73 for many clients, are calculated on the total value of a client’s traditional IRAs, including illiquid assets such as private real estate interests. A self-directed IRA holding mostly private investments may not have the cash to make its distribution.
Options can include taking the full amount from another traditional IRA, since RMDs can generally be aggregated across a client’s traditional IRAs, or distributing part of the interest in kind, which requires a current valuation and cooperation from both the custodian and the sponsor. Work through this in October or November. In late December, choices narrow quickly.
Year-end values for custodians
Custodians must report the fair market value of IRA assets each year, and for private investments they generally rely on the sponsor to provide it. Late or missing values complicate the custodian’s reporting and the client’s RMD calculation for the following year. Confirm each sponsor’s valuation timeline in the fall rather than discovering a gap in January.
Tax estimates and extensions
Clients with private real estate often cannot file until their K-1s arrive, and partnerships using the full extension may not issue them until September. For clients who make estimated payments, ask sponsors for projected income and coordinate with the CPA on safe harbor payments, so a late K-1 does not turn into an underpayment penalty.
Looking ahead to next year
Year end is also the right time to look forward. Total outstanding commitments across every sponsor and compare them with liquid reserves. Check whether valuation changes have pushed private exposure above policy limits. If a client plans new private investments in the coming year, confirm they still meet the accredited investor definition, particularly after a retirement, a business sale, or a drop in income.
Preparing for client conversations
Year-end meetings are where clients ask the hardest questions about private holdings: why a value has not moved, why distributions were lower, when the money comes back. Read each sponsor’s latest update beforehand and prepare a short, plain answer for every holding, especially the ones that are underperforming. Clients tend to accept disappointing news better than vague news.
VisionWise Capital was designed with advisors in mind. If you have clients in our offerings or are evaluating them, our team can confirm year-end valuation timing and tax document expectations for your planning calendar.
Advisors with clients in private real estate: Coordinate Year-End Planning With Our Team →
This checklist is a general planning aid for financial professionals. RMD, custodial reporting, and tax rules are summarized in general terms and depend on each client’s circumstances; confirm details with the client’s CPA and custodian. Past performance is no guarantee of future results. All investments involve risk and may result in loss. This material is for informational purposes only and does not constitute an offer to sell securities or a solicitation of an offer to buy securities.
For context, review Private Real Estate Reporting Checklist for RIAs, How RIAs Can Discuss Private Real Estate Liquidity With Clients, and How RIAs Can Evaluate Private Real Estate for Client Portfolios. Additional investor education is available on the VisionWise Capital website.
For independent investor education, see the SEC's investor.gov introduction to investing.
Use the VisionWise Capital home page as the starting point, then use this review to organize the questions you want answered.
A year-end review is more valuable when it asks what changed, what was learned, and which assumptions still deserve scrutiny. This checklist is built around that conversation.
Year-end reviews for public portfolios are well rehearsed. Private real estate needs a different rhythm, because information arrives late, positions cannot be rebalanced, and several deadlines depend on sponsors outside your control. Organizing the work by month makes it easier to delegate and harder to miss something important.
Preparing for client conversations
Year-end meetings are where clients ask the hardest questions about private holdings: why a value has not moved, why distributions were lower, when the money comes back. Read each sponsor’s latest update beforehand and prepare a short, plain answer for every holding, especially the ones that are underperforming. Clients tend to accept disappointing news better than vague news.
VisionWise Capital was designed with advisors in mind. If you have clients in our offerings or are evaluating them, our team can confirm year-end valuation timing and tax document expectations for your planning calendar.
Advisors with clients in private real estate: Coordinate Year-End Planning With Our Team →
This checklist is a general planning aid for financial professionals. RMD, custodial reporting, and tax rules are summarized in general terms and depend on each client’s circumstances; confirm details with the client’s CPA and custodian. Past performance is no guarantee of future results. All investments involve risk and may result in loss. This material is for informational purposes only and does not constitute an offer to sell securities or a solicitation of an offer to buy securities. For broader firm context, visit the VisionWise Capital homepage.
For context, review Private Real Estate Reporting Checklist for RIAs, How RIAs Can Discuss Private Real Estate Liquidity With Clients, and How RIAs Can Evaluate Private Real Estate for Client Portfolios. Additional investor education is available on the VisionWise Capital website. Questions about fit can be sent to the VisionWise Capital team.
For independent investor education, see the SEC's investor.gov introduction to investing.