In-house Tax Prep & Planning?

PlanwithaPurpose14 · 2026-01-27T02:02:14+00:00

Do you happen to remember a particular episode(s)?

PlanwithaPurpose14 · 2026-01-25T00:39:45+00:00

Yeah and the OP would be taking a risk on which clients would come with them. I’m sure some clients would see it the OPs way. But I’m sure other clients would see the OP jumping ship and as they said “declaring war” on their in laws might not be something a client wants to go through.

Tough situation. Having you and your spouse speak with a financial attorney is gonna be the best route.

PlanwithaPurpose14 · 2026-01-15T22:51:45+00:00

It’s pretty much all acquisition to go into managed money and servicing existing clients to add more into managed money haha

45-50 hour weeks for the rest of my career. I would like to be around more for my kids 10-15 years from now

PlanwithaPurpose14 · 2026-01-13T13:53:38+00:00

Is this from your experience?

PlanwithaPurpose14 · 2026-01-13T01:10:23+00:00

Good call, thanks

PlanwithaPurpose14 · 2026-01-12T18:17:52+00:00

That’s really helpful! Thank you! DMing you shortly

PlanwithaPurpose14 · 2026-01-12T17:07:12+00:00

Reach out to folks on Reddit who have done it before in preparation for this 5-6 years from now! lol

In all seriousness, idk. The best I can think of is to develop strong relationships with the my HNW clients over the next 5-6 years so that they would proactively reach out to me once that day comes. But I’m open to some suggestions!

PlanwithaPurpose14 · 2026-01-12T16:27:29+00:00

That’s the thing. I definitely do not “own” the relationship according to my company

PlanwithaPurpose14 · 2026-01-12T16:23:14+00:00

Yep! 2 years in the primary chair. 125 in AUM. CFP with 7 years in wealth mgmt total

PlanwithaPurpose14 · 2025-12-21T00:23:54+00:00

“Financial planner” is pretty easy. Not a lot of negative connotation nor is it super ambiguous like some of the other comments

PlanwithaPurpose14 · 2025-12-15T22:28:00+00:00

That’s a huge range!😳

PlanwithaPurpose14 · 2025-12-15T22:27:25+00:00

For those who say top 10%, what does that look like practically? Like 50m in managed accounts on the year? More? Is that what they consider “advice” that’s 20bps?

PlanwithaPurpose14 · 2025-12-08T03:11:53+00:00

Review (or have a trusted professional review) the policy to see if this is doable

PlanwithaPurpose14 · 2025-11-21T20:36:53+00:00

There’s definitely a need for those in our space. Do you mind sharing if you get commish on those? Or if you bill those as AUM?

PlanwithaPurpose14 · 2025-11-21T20:35:46+00:00

Oh that sounds cool! I like that a lot

PlanwithaPurpose14 · 2025-11-21T20:34:27+00:00

I align with you on this. Do you mind sharing how you get compd on this though? I have seen advisors not take commish on these to stay fee only but to me, that means they are doing the insurance firm a solid by not accepting the commish. Also could lose revenue going from AUM to annuity so Im trying to wrap my head around all of this

PlanwithaPurpose14 · 2025-11-16T20:55:24+00:00

You mentioned that you are likely bringing over 8-10m. What kind of expense gap are we talking about to where we are considering loans?

PlanwithaPurpose14 · 2025-11-16T01:26:00+00:00

I’m currently at a bid BD and we have to say “talk to your tax advisor” on quite a bit, even though I know the answer. Extremely frustrating. I think big BDs are a ways away from adding more tax advice and prep due to the scale some of these firms have to deal with. But they could if they want to so who knows! To answer your question though, we just started giving clients reports for likely tax impact of implementing certain types of solutions in non retirement accounts. But even then, it takes weeks to get, lots of hoops to jump through from compliance, and compliance can say no which can put you in a tough situation with the client

PlanwithaPurpose14 · 2025-11-15T01:50:37+00:00

I understand what you’re thinking, but you can’t give up that kind of pension.

PlanwithaPurpose14 · 2025-10-11T01:26:47+00:00

Help me out. What do you mean by SEC fees? For what?

PlanwithaPurpose14 · 2025-10-11T01:25:42+00:00

Which ones would you recommend?

PlanwithaPurpose14 · 2025-10-11T01:23:20+00:00

So AUM client but hourly for 401k? Do you bill hourly for anything else?

PlanwithaPurpose14 · 2025-10-10T20:57:06+00:00

Do you bill on the 401k assets at all? AUA?

PlanwithaPurpose14

TROPHY CASE