10 Ways to Market Yourself as a Tax Planning Whiz

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Recent research shows that demand for tax services is only rising and investors are looking for advisors who can provide it, according to Samantha Russell, chief evangelist at FMG.

As advisors continue to add tax planning to their service offerings, it becomes imperative that they effectively communicate and showcase their expertise in this area on their websites and in their marketing strategies, Russell said Thursday in the webinar “Strategies to Capitalize on the Growing Demand for Tax Planning.”

There is a huge opportunity for advisors because “There is a stark, stark difference” between clients’ service expectations and the services they actually receive from advisors, she said, pointing to recent research from Spectrem Group.

Although a whopping 92% of clients expect tax planning advice, only 25% receive that service, the research showed.

Meanwhile, only 35% of Americans work with a financial professional and tax guidance is a service that 21% of unadvised Americans are interested in, Russell said, citing Edelman Financial Engines research released in late 2022.

Tax guidance was behind only retirement income planning (27%), Social Security/Medicare advice (22%) and developing a financial plan (22%), she noted.

Tax guidance, however, was the number one service that wealthy Americans were interested in receiving help with.

See the gallery above for 10 ways she and Chris Field, chief growth officer at Holistiplan, said advisors can use marketing to take advantage of tax planning demand.

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