Why tax planning matters to an advisory relationship
Taxes affect almost every recommendation an advisor makes, from which account to draw on to when to sell a concentrated position. When the tax analysis sits with someone else, advice slows down and the client is left to connect the pieces.
Building an in-house tax team is the obvious fix, and an expensive one. Credentialed staff are hard to hire, and most firms do not have the volume to keep them fully used year-round.
What your advisors receive
Each plan is written so an advisor can walk a family through it in a single meeting. It shows the projected tax over several years, the recommended actions and the estimated effect of each one.
- Tax analysis built into the annual review
- Recommendations based on the household’s actual returns
- Plans that can be shared with the client’s own CPA
- One consistent format across every advisor at your firm
Working alongside the client’s CPA
Many of your households already have a tax preparer. The plan is written to be shared with them. It sets out the assumptions and figures clearly, so their preparer can check the numbers and carry out the recommendations at filing time.