LPL Adds Tax Planning Service for Advisors

“We believe that there is an opportunity for financial advisors to differentiate themselves by offering in-depth strategies that can proactively preserve and enhance client portfolios,” she said in a statement.

With Tax Planning Services, “advisors can now confidently deliver customized tax analysis and planning services to clients directly, instead of referring tax-related issues to accountants or other tax specialists,” she noted.

“We believe advisors who can increase their value proposition and offer a one-stop-shop solution can ultimately strengthen client outcomes and enhance overall satisfaction,” Woodford added.

Although outsourced tax planning support can “help deepen an advisor’s service offerings, it’s also ideal for those looking to better serve high-net-worth clients and complements LPL’s robust high-net-worth offerings and capabilities,” according to LPL.

Those other LPL offerings include an alternative investments platform, trustee services, an advanced estate and philanthropy planning team, complex life insurance planning, comprehensive reporting tools, an annual tax guide, tax management capabilities within LPL’s unified managed account platform, Model Wealth Portfolios, and discounted access to tax planning software, LPL said.

Tax Planning Services is just one of LPL’s comprehensive tax-related resources that it said are “designed to assist our advisors with delivering holistic investment and tax management advice to their clients.”

LPL serves almost 22,000 financial advisors, including advisors at about 1,100 enterprises and at approximately 550 registered investment advisor firms across the United States, it said.

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