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.
For more information on EFE’s wealth and tax planning capabilities contact PlanEFE.com or (833) PLAN-EFE.
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 deserve access to personal, integrated financial planning and investment advice. Today, we are America’s top independent financial planning and investment advisory firm, as recognized by Barron’s for five consecutive years,2 with 145+ offices3 across the country and entrusted by more than 1.3 million clients to manage $241 billion in assets.4 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 Results of Everyday Wealth in America 2022 are based on research conducted by Greenwald Research on behalf of EFE. The information was gathered through an online consumer panel of 2,011 Americans aged 30 years or older between Aug. 30 and Sept. 7, 2022. This included an oversampling of approximately 1,000 “affluent” Americans aged 45 to 70, with household assets between $500,000 and $3 million, and currently working with a financial professional or open to doing so. Data was weighted to correct for the oversample and to reflect the broader national population. Results produced a margin of error (at the 95% confidence level) of plus or minus two percentage points.
2 The Barron’s 2022 Top 100 RIA Firms list, a seven-year ranking of independent advisory firms, 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. Compensation is paid for use and distribution of the rating. Investor experience and returns are not considered. The 2018 ranking refers to Edelman Financial Services, LLC, which combined its advisory business in its entirety with Financial Engines Advisors L.L.C. (FEA) in November 2018. For the same survey, FEA received a precombination ranking of 12th.
3 Edelman Financial Engines data, as of Dec. 31, 2021.
4 Edelman Financial Engines data, as of June 30, 2022.
Edelman Financial Engines
© 2022 Edelman Financial Engines, LLC. Edelman Financial Engines® is a registered trademark of Edelman Financial Engines, LLC. All advisory services provided by Financial Engines Advisors L.L.C., a federally registered investment advisor. Results are not guaranteed. See EdelmanFinancialEngines.com/patent-information for patent information. AM2552083.