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Creating Value Adds from the Tax Return · The Perfect RIA

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Unknown: Y'all planning for this?
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Welcome back TPR Nation. This is Jamie Shilanski in an episode of
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Worlds to Conquer and I'm going to share with you the inside my
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office Shilanski and Associates is going to be gearing up to
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tackle as we move into summer. So for those of you that know
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Shilanski and Associates is our RIA up in Anchorage, Alaska, it
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was started by my mom and dad, Floyd and Rosa Shilanski. About
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four years ago, my brother, my baby brother, Micah Shilanski
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and I had been at the helm for the last dozen years or so. And
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we have just instrumentally gotten better and better and
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better, but make no mistake about it. That is because we are
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standing on the shoulders of giants. We are refining
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processes, we are delivering massive value, and we are
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impacting 1000s upon 1000s of heartbeats. That's how we refer
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to our clients. We don't necessarily refer to them as
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clients internally, we always call the heartbeats. Why does it
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matter? The heartbeat is impacting the heartbeat. How
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many heartbeats can we tell, why? Because I never ever, ever
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want to reduce our financial advisory practice to account
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numbers and account sizes and value of AUM. This is about
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making massive multi generational impact on
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individuals because we have the greatest profession in the
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world. We get to deliver so much value and help people be an
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incredible sounding board during every single one of their
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massive milestones throughout their lifetime. And if we do our
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job right, that is the marriage that is the birth of children.
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That is the career changes that is a loss of parents putting
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parents in retirement centers and welcoming grandchildren. We
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get to experience so many generations of impact by
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providing people with incredible financial advice from a trusted
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source that they get to use as a sounding board. We don't get to
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slack off or we get outside of Surge. So what is surge? Surge
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is a specific time block period in which we do nothing as
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financial advisors but we back to back with clients to deliver
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massive value. It is strategic, it is focused and during the
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springtime, it is our biggest surge out of the year. Now why
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is it our biggest surge is it because we have more time to
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meet with clients? Nope. We keep it kept at those six weeks that
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we talked about. That's all of March and half of April. Why do
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I get a half of April? Because I tie it to the tax deadline. Are
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we meeting with more clients during spring surge? No, we're
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not. We're meeting with the same amount of clients during that
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spring surge. But it is our biggest surge because of the
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majority of the information that we're gathering from our clients
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during that time blocked period. In the month of March. Clients
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are geared up to hunt and pack their financial information.
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This is a an extraordinary time. We start reminding clients in
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January of all the information that they're going to be
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receiving in the next couple of months. And then asking them to
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provide our office with copies whether or not they think it
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applies to something that's going on with them. If they see
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it. If it involves money, why don't they go ahead and provide
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us a copy of it. This is the time of year where clients have
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to remember their login your username and passcode to get
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1099 information to get things set up. And so when they're
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remembering that we're saying hey, by the way, why don't you
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go ahead and throw that into box.com. That's our secured
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client portal where we can share information. But one of the hard
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rules in our office is we don't send anything out unsecured we
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really don't even try to send out blank documents to clients
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design. Why? Because if I email you a billing document, when you
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send that document out, what course of action you're going to
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take? You're gonna email right back to me, unsecure! So we
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really try to push everything we possibly can into box.com
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because of their encryption protocols. And then when a
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client gets back to us through box.com so we really try to in
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fact during one of our SEC examinations, they asked what
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was the biggest threat to client security of their information?
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And my brother answered: Clients. Clients are the biggest
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thread to Client Security and Information. I cannot tell you
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how many clients are like hey, can I just check text over my
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passport? Nope, sorry. Don't text with the client. What can I
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just email to you then? No, no, you can't. So we really have to
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advocate to keep our client information safe by taking these
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protocols and not deviating from them unless unless we absolutly
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have to and there are rare occasions because there are
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probably three clients in our entire practice that just
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because of their age and their technology differences. They
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don't understand how to use the portal. But most of the time I
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mean for all the rest of the 500 clients or 497 clients. They get
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it they know how to use it. Everything is online. Everything
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pushed us online during the pandemic. And so this is a
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wonderful time for people to be logging in grabbing their tax
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information and providing you a secured copy of that. So I love
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to see everything that they would give to their CPA. Oh,
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here's a fun thing that I'm going to share with you if you
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have an enterprise office. I just learned that from talking
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and networking with other financial advisors that in their
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enterprise office, the second year associates for financial
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planners so the first year they get their CFP the second year
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they have to go become enrolled agents and the way that that
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enterprise office operates is that all the all the financial
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advisors that go into their third year so the first year
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CFP, second year getting enrolled agent, third year they
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started doing the tax returns of all the clients. I thought that
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was brilliant in respect for this particular practice. I
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don't know if it's something I would adopt for us, but I
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thought it was brilliant because what better way to get
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completely acclimated into a client's finances than rolling
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up your sleeves, taking your rings off washing your hands and
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getting all inside of that dough. I mean, you're just
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leaving and massaging and letting it rest and coming back
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to it. I mean, you're really working that information over in
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order to get everything out of it. So I thought that was a
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great idea. I'm actually going to have our new hire, our
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paraplanner he's going to start his Enrolled Agent for a
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different purpose. I don't think that we're going to bring taxes
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back in house. My brother when he first start off the career
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started off a side hustle of Shilanski tax services because
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it was just natural. In fact out there right now I'm probably
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speaking to many CFPs that also are CPAs or maybe you guys do
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taxes inside your financial planning firm. If that's the
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case hit us up on social media or at theperfectria.com. Let us
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know if you're managing both of those. If you do taxes inside
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your financial advisory firm, or do you outsource that out to the
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center of influence? What does that look like? We did Shilanski
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tax planning it became so incredibly laborious that my
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brother couldn't actually bring on financial planning clients
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because he had so many tax clients that he was meeting with
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that we just ended up with a bandwidth problem. So we kind of
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closed that down went dormant for a few years we worked with
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centers of influence, but in 2021 we had a lot of CPAs retire
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in this country. We had a lot of tax professionals say it's been
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real. It's been fun. It was not always real fun, peace out Cub
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Scout and took off. They rolled up their practices and told
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their clients go find somebody else. But the problem was is
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that as we knocked on doors most people weren't taking average
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clients. They were looking for the boss the back office support
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solutions they wanted to do the large corporations in which they
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picked up the accounting recurring revenue every single
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month as well. And so we found a real hard time placing people
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with CPAs that would do the average person's tax return. So
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we partnered up with retirement tax services and had them start
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preparing returns for individuals in our practice that
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we're having those type of challenges. We're premiere
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members over there. So Stephen Jarvis is their head CPA.
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They've got a wonderful team. They also have an entire network
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of other financial advisors. That they get to you get a pin
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questions, they do quarterly updates, they give us a 37
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It's good for somebody like me that gets to you know, like, go
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points check list which is fenomenal way.
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down a checklist to item number seven, and I'm like, Yeah, we're
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done. We're done. We're gonna move forward, but it really
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forces me to look at that tax return. Go for the 37 point
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checklist and make sure it's good to go for the client. And I
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love it! Because of that 37 point test, if you haven't
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purchased it, jump order retirmenttaxservices.com
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downloaded it. I think they sell it, it's super marginal. I mean,
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it can't cost more than 50 bucks to sit there and go through
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every single tax return. Either if you're as a financial
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advisor, or if you're an operations person, relationship
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management. And you catch things you wouldn't otherwise, to draw
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our attention to and they're small.
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They're small things that actually have big impact. One of
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them that they ask is has there been an address change? Seems
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stupid like a stupid question, to update your address with the
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IRS? Well, if you moved addresses, maybe you move states
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and maybe you moved to a state that's going to have an income
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tax problem. And so it was really great exercise for all of
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us to go through in our office. I don't think I'll bring taxes
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back in house but I will give some of our paraplanners and our
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advisors that training Gleim offers it g l e i m my we looked
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at their syllabus, and this is just really good foundational
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training for financial advisors. As financial advisors, we've
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always operated in kind of a murky area between law and
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taxes. And there is a bigger question about what is legal
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advice versus what is financial planning advice, and what is tax
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advice versus tax planning advice. So we'd like to make
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sure our clients know we're not attorneys. We're not CPAs but
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we're going to work hand in hand with them. And we're going to
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bounce ideas off of another reason I really like working
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with retirement Tax Services is it gives me a sounding board
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before I go to the client, and I say hey, listen, I got this
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client. This is what we're thinking. We want to do a whole
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bunch of qualified charitable distributions out of the IRAs
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when they hit age 70. What's our process? How do we move forward?
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And they're like, actually, you know what, under the Cares Act,
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you could do XY and Z right? And so it's just good things good,
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real good sounding board to bounce ideas off before you go
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present to a client and figure out you can or cannot do
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something. So I like working with them for that reason alone.
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I don't think we'll bring taxes back in house but we always do
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tax planning for our clients. So one of the things that we are
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trying to be instrumental with our financial advisors about is
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doing a five to 10 year tax plan. What does the horizon look
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like? Now? This is a conversation I have with many
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CPAs because you know us as financial advisors, we're all
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about the forecasting. We're all about the what ifs the
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predictions. What's possible. Hey, what do we do this and this
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scenario, that's not where CPAs live and operate, they live and
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operate with what is law? What is fact today, and it's not even
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just a current year. What was it last year because I'm doing all
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of this looking backwards. You want a fun exercise, it's really
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kind of sad is looking at engagement letter of a CPA firm
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and look at everything that they tell you to do and go back. Or
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what they tell you what they charge for right, we're gonna do
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tax planning, tax advise. We're gonna look at minimizing your
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tax liability. You know, all of these things, and they go to
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your clients as they do they do XY and Z. Oh, no, they just
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prepare me return and tell me what I owe. All right. So we
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like to take it a step further in our office and working hand
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in hand with those CPAs to bounce ideas off, strategies.
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How can we do everything for tip the IRS, they're earning far
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enough of our hard earned dollars? We don't need to leave
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a tip on the table for the extra work that they're doing. So when
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another financial advisors go to that Enrolled Agent, I'm going
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to give them a good foundation of taxes because they see a lot
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of tax returns. So when we partner with any CPA firm, we
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always ask our clients to give us a copy of the tax return. Now
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I'm always looking for an opportunity where I can make it
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as stupid, simple and easy for the client as possible. So when
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they are in our office, if they are working with a CPA firm,
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that's not retirement tax services, because we have a
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blanket one for them because they work with a lot of our
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clients. But I go out and I say Hey, could I have you sign this
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letter of authorization? I'd really wanna make sure that I
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provided your CPA with as many of the 1099s that you are coming
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out of Schwab, that's where we custodian add or I would like to
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see a copy of your return before it gets filed. I'd be happy to
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review a draft a second set of eyes never hurts. And they say
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oh my gosh, that would be fabulous. So now I have the
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client sign an LOA. Now we have our mission to go to the CPAs
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office and I can get the information instead of asking
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the client for it. Why because clients are not always
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responsible for getting us the information. Now, their
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responsibility. They're not responsible to follow up with
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the task of how many people that they've shared this information
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with. And so if I can make it easy for the client by having
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them to sign a letter of authorization, I'm going to do
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that. And then I'm going to task my relationship manager.
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Remember my relationship manager manages the relationship with
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the client. They don't provide financial advice, but they do
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things like schedule or follow up with third parties. So I'm
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going to ask my Relationship Manager I'm going to say hey,
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Mr. Mrs. Client, have a signed letter of authorization with XYZ
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CPA firm, please go get the Working Papers, please go get
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the draft tax return. And then our relationship managers can
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send that over they can work behind the scenes they can get
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all of their region, so I make it less of a nuisance for
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clients anytime I can save a client one or two steps, I'm
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going to take that action. I'm going to do it on their behalf
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because one I'm a control freak. I am a control freak. I want to
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make sure this stuff is getting done. I want to completely
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checked off my to do list and then to I want to provide
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massive value to the client and when they come to us it is to
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simplify their life not add a level of complexity to it. And
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so I want to take anything that I can make it simple for the
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client. I'm going to take on the burden I'm going to take on that
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action and doing alright, so we've gone on to the CPA firm or
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maybe the client is responsible for getting us the tax return
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however that happens. We're getting the return and once
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we've got the return and it needs to be the executed not
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just a draft, it's okay to have a draft but I want to upload a
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new version on top of that with the executed version. I want to
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make sure I'm going to do things like fall with the client Mr.
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Mrs. Client, it looks like you had a tax liability of $20,000.
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I'm just calling today to confirm that that was paid that
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you submitted that payment to the IRS. Oh, I gave the CPA
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check. Fabulous. Thank you so much for letting me know. Or
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actually you know what I meant to jump online and do that. Oh
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my gosh, I'm gonna have a penalty Hold on. Great. Can we
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schedule appointment with our service team, and if they have
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any difficulties, they can certainly walk you through how
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to take those steps online, whatever gets it done for the
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client, whatever like level of concierge service that we can
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help the client with. We're going to do that. Alright, so
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now we've got a copy of the tax return. Now we've made sure that
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they have made their payment. Now for any client that owes
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taxes. Most of the time. Whatever software the CPA firm
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is using maybe proconnect, it doesn't matter. It's going to
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kick out an estimated tax worksheet and it's going to give
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you those little vouchers and say Mr. Mrs. Client, you didn't
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have enough money withheld throughout the year for your
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taxes. Therefore next year, we recommend that you make these
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estimated payments and it's gonna be the single sheet of
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paper but with just 1/3 of it telling them what they think
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their estimated tax payments are going to be. Here's a low
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hanging value add that you can do and it costs very little time
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inside of your customer relationship management software
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CRM. Micah and I my baby brother, we created infinity.
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That's our CRM, that's our brain trust that we use for our
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financial planning practice. So inside of our CRM, we capture
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all of this information for the client. So if the client has an
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estimated tax payments that they need to make next year, we're
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flagging that for the summer appointment and during that
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summer appointment, the financial advisor might say Hey,
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Mr. Mrs. Client, you know what, I think it makes a ton of sense
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to update your Social Security taxes that are withheld. And
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then the client says I didn't think that taxes came out on
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Social Security. Well, great. Let's talk a little bit more
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about that. And then that gives us a segue to make those sorts
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of incremental adjustments or if we have a client that just needs
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to make estimated taxes, we can send them out to expired Mr.
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Mrs. Client. As a courtesy reminder, I'm sure your CPA firm
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has already mentioned this to you, but you have an estimated
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tax payment of $10,000. If I can provide any assistance or you
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need a free of any additional cash for that, please let our
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office know, low hanging fruit. Why is that low hanging fruit?
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Because the CPA firm already did the calculations very spat out
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what they think the estimated taxes should be. Now whether or
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not it's accurate because maybe the clients income and inflows
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as much of ours do but that's up to you and your client
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relationship. Most of the time, they're going to be relatively
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close and if they're not relatively close, what a great
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opportunity to say Mr. Mrs. Client, I know based on last
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year, the CPA firm that you're working with recommended that
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you meet estimated tax payments of $10,000 every single quarter
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what they may not have been privy to is we've 100% converted
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your IRAs into Roths, therefore we won't have that additional
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income. I'd like to take this opportunity to let you know I
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think you can say that $10,000 every quarter this year and not
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apply it to the potential tax liability.
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BOOM! Massive massive win for you as a financial advisor, but
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you've got to be able to go back and look at those returns. Look
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at the advice the CPA is giving. Have a conversation with the
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CPA. I never go well your CPA doesn't know what they're
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talking about because they didn't know XY and Z. Instead I
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called Mr. Mrs. CPA Miss CPA. I see that you've recommended Bob
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and Sue to get $10,000 estimated payment. I wanted to let you
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know we've 100% converted all their IRAs to the Roth this our
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last tax year. They're not going to have those additional income
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burdens those additional tax burdens. What do you think about
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adjusting this down? And then you have a dialogue and
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conversation? I never say your idiot CPA did XY and Z. I want
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to make sure I'm having a respectful dialogue. Because the
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CPA is a historian. They're looking at all of the
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information that the client has provided them for months or year
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past past past tense and so they don't get to do a lot of the
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forward planning. They don't get a lot of forward seeing. And
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that's where the difference between tax advice and tax
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planning comes in. Having that dialogue having that respectful
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conversation, and then taking every opportunity you have as a
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financial adviser to provide a little bit more value. And it's
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low hanging fruit stuff like that. I told you the two things
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that are really really super low and tangible and that you are
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able to do one letter of authorization make it stupid,
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simple. Two, do you got the estimated taxes. Does it make
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sense during your surge summer schedule to talk to clients
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about either increasing their withholdings or setting up an
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action sequence inside of your CRM for your relationship
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manager to remind your clients that they need to make an
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estimated tax payment? Where can you take those wins? That's what
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we're looking for. All right, the third super low hanging
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fruit that to this day, I am beguiled at how impactful it is.
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It is so impactful of a value add that if a client doesn't get
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it, I get an email saying hey, we were traveling, and I didn't
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get this, can you make sure you put it in my box.com account? It
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was really really helpful for me. And when Micah first
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presented it to me because he presented he was like, Hey, why
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don't we do X, Y and Z? And I was like, Oh, that seems silly.
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That's when they get an onboarding or or tax organizer
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from their CPA. Why would we do this? I have never heard a
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client tell me how much they love the tax organizer from this
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year. That's not true. I have one client ever tell me how much
19:45
they love that binder and tax organizer. But I hear about this
19:50
value add every single year especially if a client doesn't
19:53
get it and that is the 1099 value add. So what we did was we
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created a list of which custodians which companies the
20:02
client should receive a 1099 from Allianz Prudential Schwab
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fidelity, whatever this is, we capture that information inside
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of our CRM. We use Mail merging to create a value add and we say
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and we created a checklist, Mr. And Mrs. Client as you prepare
20:16
for this year's tax season, we wanted to take this time to
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provide you with a courtesy list of what we think you're going to
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receive 1099s on. It's going to be xy and z companies
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custodians, please make sure you watch out for those. And by the
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way, Mr. Mrs. Client, if you don't receive those ones, and
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their custodian or Charles Schwab or one of the companies
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are affiliated with, please contact us. Our team will make
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sure we put a copy in your box.com account. This was
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tremendous. This was gangbusters. Why? Because our
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responsibility was to take complex topics and make them
20:50
super simple for clients. And this allowed us to do that they
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love this checklist. And so at the end of every January this
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goes out it's one of the first things that they receive.
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Clients take pictures of it on the refrigerator, they magnet it
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up there and they start check marking the box of when they
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start receiving these 1099s and if they're missing one, it
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brings it to the top of mind attention. So when we talk about
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value add, so a value add is a client deliverable that takes a
21:15
complex topic and boils it down to as simple as possible in a
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one page if we can, if we can't make it more than one page. It's
21:24
certainly not more than two. We don't in our office present 80
21:29
to 100 page print out to client builders or financial plan. Why?
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Because we care about progress not prettiness. What does that
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mean? Whenever I've seen a client carry around 100 page
21:39
booklet of financial plans, their execution on any of those
21:43
is marginal at best. And also money's fluid. Those plans are
21:47
static. You print them down, it's done. And same is true with
21:50
our value ads. We print them down that's a static piece.
21:53
Money's in motion. Money's constantly in motion. So on our
21:57
value adds, we try to keep them on one page. We deliver a value
22:00
at every single quarter to a client. Our value adds repeat
22:03
every couple of years. Why? Because they matter every couple
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of years. The 1099 is a regular one. We tried to we tried to say
22:11
hey, maybe we'll do something different. But we just had an
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overwhelming response from our clients that they loved it. So
22:16
why are we going to change something that the clients
22:17
absolutely love? Why would we take something that is working
22:21
really successfully and then say oh, let's not do that anymore?
22:24
That was too successful. So we're conscientious of doing
22:28
that. Alright, so now we've grabbed these tax information.
22:31
And now we know a couple of different things. And next value
22:34
add that you can do we don't do this with our clients. We have
22:37
this conversation in our meeting. So this becomes part of
22:39
our homework sheet. So as I mentioned inside of Infinity,
22:42
our CRM, we capture a lot of client data, our brain trust,
22:46
and then we created something my especially our mom and dad
22:48
created this years and years ago, and this was called a
22:50
homework sheet and the homework sheet used to be literally a
22:53
carbon sheet of paper. So it was a piece of paper that had a
22:55
carbon copy. Out the talking points in the conversation, they
23:01
would list what the financial advisor was going to do and they
23:03
would list the client homework on there. And then they would
23:06
rip off the carbon sheet but one copy went what the client wants
23:09
to do with us. Today we have upgraded that and the whole
23:13
sheet prints out vitals for us. And so just like if you were
23:17
going into a doctor's office and they have like your vitals
23:20
reported on the chart, that's exact same thing. We call it a
23:23
homework sheet because it is a homework that we need to do as
23:26
financial advisors or the clients to the one my mom and
23:29
dad started. We still have a section for financial advisors
23:31
and we have a section for the client of who's going to do what
23:34
because as financial advisors are some things we can do but
23:37
there's some things the client just has to do. Get us your pay
23:39
stub get us your employer booklet change your allocations
23:42
on a third party managed platform. You know get us your
23:45
wills and trusts there are things the client has to go and
23:47
do but I want to follow up on so we keep that homework in place
23:50
and then our relationship managers will follow up in two
23:53
weeks. I am a huge advocate of setting client deadlines why
23:57
Parkinson's Law. The work takes up the amount of time that you
24:01
allow for it. So I will say to a client, I will say hey, listen,
24:04
we just finished all your estate planning. One of the greatest
24:06
mistakes that I see clients make is they pay 10s of 1000s of
24:09
dollars for this wonderful estate plan comes this beautiful
24:12
leather binder and then they forget to update the beneficiary
24:16
designations. I'm going to make sure your custodian accounts are
24:19
updated with all the investment new ones that we have here. But
24:22
Mr. Mrs. Client, can you go to your bank? Can you go to your
24:24
title agency, can you go to your employer? Can you get these
24:27
beneficiaries updated? Yeah, we'll totally do that. We're not
24:30
going to forget great. I'd like to set a deadline around this
24:33
just so that I don't become increasingly annoying. And you
24:36
already know Mr. Mrs. Client, I am a huge control freak. I need
24:40
to see verification that these things are done. Not because I
24:43
don't trust you. I don't trust the person processing this
24:46
paperwork on the other end. I want to see that this has been
24:49
updated and the clients would want to get a laugh out of that.
24:52
And I said Mr. Mrs. client can we agreed to have this completed
24:55
in the next 30 days? Great. I'm gonna have my relationship
24:58
manager call you on the 31st day if we don't have everything or
25:01
we're gonna remind you,
25:02
is that okay with you? Yes. And guess what? I was always going
25:05
to do that. But now I have their acquiesce now I have their buy
25:08
in now. I have their agreement that they're on board with this
25:12
plan. And I will have the relationship managers call two
25:15
or three times until this gets done. Why? Because it's
25:17
important to get done if you've ever sat across from a widow or
25:21
widower that didn't have their beneficiaries updated and now
25:24
you gotta go through the whole probate process. Oh, you only
25:27
make that mistake one time. And so I become incredibly annoying.
25:30
I've seen this done as much as I possibly can, and an advocation
25:33
for our clients. And I've never had anyone say hey, I really
25:36
don't like that. They're like, no, this is fantastic. This is
25:40
what I need. Please stay on top of me. I know I'm not doing my
25:43
end of this and I need to get this done. So that's one of the
25:46
reasons that we do that. We take on our homework sheet as part of
25:49
those vitals, we also write down their taxable income. So we'll
25:53
have their AGI we'll have their taxable income. We'll have their
25:56
estimated taxes last year we'll have their marginal and their
25:59
effective tax rate. And this is really nice for us as financial
26:02
advisors because then when we're there, we're doing the planning,
26:06
we can say well actually hold on last year, I see that you're in
26:09
the 28% tax bracket. What if we did and we'll grab the guide
26:12
that retirement Tax Services gives us we'll look at the tax
26:15
chart and we'll say hey, what if we converted, you know, 75,000
26:18
out of your IRA to a Roth so we'll continue tax planning as
26:21
part of our dialogue. We don't do or have conversions. We
26:24
really, really, really, really tried to dissuade clients from
26:27
doing Roth conversions until October of every year October we
26:31
get really, really busy doing Roth conversions, because
26:33
oftentimes clients don't know what their income is going to
26:36
be. And if we wait until that 10th month, we got a pretty good
26:40
idea. So we've got a really good understanding of where they're
26:43
going to end up income tax wise, and we also know what their tax
26:46
brackets are going to be at that time. So that makes it a really
26:50
powerful opportunity. But it is amazing. The credibility you
26:53
will get when you look down at your form. And now that homework
26:56
sheet is now on digitize, we put it on our Remarkables we take
26:59
our notes, clients do not get a copy of it. Now if there's
27:02
something we change is just internal for us. But that's also
27:05
our pulse point when we do our dictation. So when we finish up
27:08
our meeting and we'll go out we'll do our dictation. I'll
27:11
pull up the homework sheet and we'll make sure that we talk
27:14
about each one of those pulse points on that and that's been
27:17
really great for individuals like me that you have a really
27:20
powerful conversation. And maybe you know, with all the financial
27:24
advisors, you're going through 45 minutes of stuff and then one
27:27
little note can trigger Oh yeah, talk about X, Y and Z in the
27:30
future. So it's been really great. And it's wonderful to
27:33
look down and say well, actually so last year I see that you're
27:36
at a 22% tax bracket, and 20% whatever that is, and then the
27:39
client is like, oh gosh, I love that you keep track of these
27:43
things because they're not. They're not their whole world
27:46
our whole world is their finances. Their whole world is
27:48
not. Their whole world is their job and their retirement, and
27:52
their family and their health and all of these other things
27:55
that they have. They trusted us to take care of this aspect of
27:58
it. So really powerful. So once you have all that information,
28:01
it's great to capture it and put it inside of your CRM and then
28:04
outline over the summer. What are your value ads going to be
28:07
for either this year or next year? Doing all that forward?
28:10
Planning because you just got all of this information from the
28:14
clients. If you're sitting here listening to the things, saying
28:17
Jamie that's all great, but I'm a one man shop. I don't know how
28:20
I'm gonna accomplish all of this, or I have an assistant but
28:23
I think this might exceed their skill level. I don't feel real
28:26
comfortable getting your tax return. Email us at
28:29
lifestyle@theperfectria.com. There are several paraplanner in
28:32
firms out there that offer this sort of back office support
28:35
solution. I'd be happy to make an introduction. We've used some
28:38
in the past. We stopped using them just because we had enough
28:41
personnel on board that our personnel was taking over this,
28:45
but I'd be happy to begin introduction to a company that
28:47
could assist you in this capacity. And at least get this
28:50
information in there and done. This doesn't have to be a full
28:53
time you gotta have people for projects there CFPs out there
28:57
for hire all day long. And you could say hey, I'm gonna hire
29:00
you. I want you to work on inputting all the tax
29:02
information, we created a module inside of our CRM, go through
29:05
every single tax return through the month of May and June. Add
29:09
this information in - garbage in garbage out. You got to spot
29:12
check and even if they don't go credentials are spot check their
29:15
information make sure everything is good so that when you extract
29:18
that information to run your value add you have garbage
29:21
pretty down on the paper and not and report that to the client.
29:24
There's nothing more embarrassing. I hate not having
29:27
the right information on a client deliverable and it could
29:30
be something stupid. And a lot of times it's we sold that
29:33
vacation property last year but it's still showing up on the net
29:36
worth report. Can't stand when that happens. TPR Nation! This
29:39
is Jamie Shilanski in an episode of Worlds of Conquer. Tons of
29:43
action items for you right now to take forward momentum action
29:46
on. So use the end of this tax season to start planning for
29:49
your value adds, start doing the work to set you up for success
29:52
with the clients later. But most importantly, go find people who
29:55
share your values and change the world.