E107 – Untapped Opportunity: Tax Dance
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This episode of "From Busy to Rich," hosts Justin Lakin and Wes Young explore untapped opportunities in the financial advisory industry, emphasizing the importance of tax intelligence and collaboration with CPAs. Wes shares a story about two shoe salesmen to illustrate different mindsets towards opportunities. Their discussion highlights how integrating tax planning can enhance financial advisors' practices, improve client relationships, and increase profitability. They also provide resources like the narrative checklist and recommend tools and podcasts to help advisors deepen their tax knowledge and better serve their clients.
In today’s episode we will cover:
- What are the untapped opportunities in the financial advisory industry
- Importance of tax intelligence in financial planning
- Coordination between financial advisors and CPAs (Certified Public Accountants)
- Mindset differences
- Proactive client engagement in tax discussions
- Practical strategies for improving tax intelligence among advisors
- Resources and tools available for advisors to enhance tax planning
- Ongoing learning and adaptation to changes in the tax code
We hope you enjoy this episode, and we would love to hear your feedback by having you leave a review. If you’re an advisor and want to further explore these or other topics, you can learn more at www.wesyounglive.com. Perhaps you’ve been following us for a while, and you’re ready to transform your practice. If so then we would love to have you at our upcoming Transform Learning Series™ - click here for information on how to sign up.
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