GVA Solutions Spotlight: Tax Strategy Resources

April 2, 2024
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One of GVA’s foundational principles is building an ecosystem that enables our advisors to provide comprehensive financial planning services. We understand it would be nearly impossible for an advisor to have specialized knowledge for every scenario. As such we have built a dynamic technology stack and assembled a best-in-class team to ensure our advisors always have access to an expert, regardless of the service their client needs.

An excellent example of a value-add service that GVA provides access to is tax strategy. GVA does so by offering access to dozens of CPA alliance and partnership resources. The partnerships we offer marry advisory and tax services providing a ‘one-stop shop’ experience for our advisors and their clients. Furthermore GVA advisors have direct access to an on-staff tax expert who can answer client tax questions quickly and accurately.

Obviously, having direct access to a CPA helps with tax planning and compliance, but our tax resources also support advisors with business planning and retirement tax strategies. Specific areas where our CPA partnership resources support our advisors include,

  • year-end tax loss harvesting,
  • entity classification decisions,
  • estate planning,
  • and overall tax mitigation.

They also work closely with our asset management team to provide valuable insight for GVA’s investment strategies. This ultimately strengthens and deepens the relationship between our advisors and their clients – clients feel confident knowing they have a single, professional source for all their financial questions.

GVA also provides support to our advisors interested in formally affiliating with a CPA. If GVA advisory firms are interested in exploring how to structure a partnership with a CPA we have established three model options. The models vary in difficulty to implement, and all have the same client-centric goal – typically the client acts as the “middle man” between their advisor and CPA, and each of the scenarios below removes that burden.

  1. Partnership Model – CPA and Advisor create an actual legal entity and are “Partners’ in the ownership of the retail client relationship. Partners share revenue and expense of the partnership.
  2. Acquisition Model – Advisor acquires a CPA practice and folds it into their existing business. CPA stays on as an employee of the firm.
  3. Solicitation Model – Advisor and CPA simply enter into an agreement to refer clients to each other. Revenue is shared.

Once a model is determined, if necessary, we recommend you engage with a lawyer, and once the partnership is up and running GVA can offer simple revenue sharing through AdvisorBOB. GVA has supported our advisors though each of the scenarios and are primed to assist additional advisors in setting up a scenario that best suits your practice.

Our goal is for GVA advisors to maximize their client satisfaction and retention. GVA advisors have access to the people, support, and technology to provide their clients with comprehensive financial planning services, differentiating themselves from their competitors, and driving the best possible outcomes for their clients.

Securities offered through LPL Financial, member FINRA/SIPC. Investment Advice offered through Great Valley Advisor Group, a Registered Investment Advisor and separate entity from LPL Financial.