Edelman Financial Engines Expands its Tax Planning Support Capabilities

BOSTON, November 9, 2022 - Edelman Financial Engines (EFE) is expanding its tax planning support capabilities as a part of the firm’s investments to broaden in-house resources and provide clients with an enhanced integrated wealth planning service experience.

The effort will enable EFE’s planning team to conduct tax consultations with in-house certified public accountants (CPAs) and expand the firm’s tax planning capabilities through implementation of an innovative tax planning software solution. These additional capabilities come at a time when the demand for comprehensive tax and wealth planning solutions continues to grow.

A recent EFE survey1 found that having access to a financial professional with tax planning capabilities is a top interest for investors, especially among the affluent. According to the survey, nearly half (47%) of respondents with at least $500,000 in household assets agreed that managing money to minimize taxes was the “most overwhelming financial task” to do on their own. Affluent individuals who did not have a relationship with a financial professional were two times more interested in receiving tax guidance (40%) than an average general population respondent (21%). Even those who did work with a professional, nearly one-quarter (22%) acknowledged that they still were not getting adequate tax support.

“Nearly every financial decision has a tax impact, which makes tax-efficient planning such an essential part of how we can help more people with their broader wealth goals,” said Jason Van de Loo, head of Wealth Planning and Marketing at Edelman Financial Engines. “Expanding our in-house tax capabilities to take on the complexities of the tax code and perform seamless, forward-looking tax services is just one example of how we’re committed to delivering greater value for our clients.”

Last year, EFE acquired Viridian Advisors, an independent firm that specializes in comprehensive financial planning and tax planning services to individuals, families and businesses. With this acquisition, EFE added a team of CPAs, financial advisors and client service associates to its nationwide network that now serve as the core of the firm’s tax planning and support team. EFE’s planners can easily connect and collaborate with these in-house tax professionals, creating an ensemble team that adds greater value for estate planning, wealth protection and investment management needs.

In addition, EFE is also scaling its tax planning capabilities with the deployment of Holistiplan, a leading tax planning software solution. This tax technology application provides EFE’s financial planners with the flexibility and support to inform clients on a wide variety of tax-related topics, ranging from income bracket strategies to the impact of real estate transactions.

About Edelman Financial Engines

Since 1986, Edelman Financial Engines has been committed to always acting in the best interests of our clients. We were founded on the belief that all investors – not just the wealthy – deserve access to personal, comprehensive financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisory firm, recognized by Barron's1 with 145+ offices2 across the country and entrusted by 1.3 million clients to manage more than $245 billion in assets.3 Our unique approach to serving clients combines our advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client’s situation and goals are unique, and the powerful fusion of high-tech and high touch allows Edelman Financial Engines to deliver the personal plan and financial confidence that everyone deserves. For more information, please visit EdelmanFinancialEngines.com.

1. The Barron’s 2023 Top 100 RIA Firms list, a ranking of independent advisory firms in its eighth year, is qualitative and quantitative, including assets managed by the firms, technology spending, staff diversity, succession planning and other metrics. Firms elect to participate but do not pay to be included in the ranking. Ranking awarded each September based on data within a 12-month period. Investor experience and returns are not considered.

2. Edelman Financial Engines data, as of Dec. 31, 2022.

3. Edelman Financial Engines data, as of September 30, 2023.

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