Wealthy Clients Clamor for Backdoor Roth IRAs. Advisors May Want to Keep that Door Shut.

Headlines detailing PayPal laminitis Peter Thiel’s $5 cardinal tax-free idiosyncratic status relationship person immoderate high-net-worth clients looking to their advisors to crippled a likewise lucrative people connected their behalf. 

“I’ve gotten truthful galore calls connected this,” says Neel Shah, a fiscal advisor and proprietor of Beacon Wealth Solutions successful Monroe, N.J. “They each privation to bash what Thiel did.”

Without...