Many people increasingly recognize the importance of understanding their taxes thoroughly, not merely as an annual obligation but as a strategic tool for shaping their financial future. While tax planning is not intended to replace the comprehensive financial plan, it is a strategic piece to empower advisors to optimize their financial plan and fiscal outcomes.

In this episode, Ryan Donovan and George Svagera talk with Torie Happe, Head of Partnerships at Holistiplan, a tax planning software solution that helps financial planners drastically reduce the time it takes to provide tax planning for clients. With diverse work experience spanning multiple industries, Torie has extensive experience in the industry and is passionate about helping advisors leverage technology to provide better service to their clients.

Torie talks with George and Ryan about the future of financial planning and the role of tax planning in the overall planning process. Torie explains how Holistiplan empowers advisors and highlights the importance of tax planning in helping clients understand their taxes. She also emphasizes the need for advisors to choose technology strategically and not overwhelm themselves with too many options.

Key Takeaways

• [01:27] - Torie's background and journey in the financial planning industry.
• [08:02] - How Holistiplan empowers advisors in tax planning.
• [11:18] - How Holistiplan's tax planning process simplifies advisors' lives.
• [14:02] - Use cases of how tax planning adds value to advisors.
• [19:01] - How Holistiplan complements other financial technology firms.
• [20:03] - What advisors do wrong when it comes to technology.
• [25:28] - How Holistiplan integrates with other fintech companies.
• [31:07] - Torie's expectations for the coming year.

Quotes

[08:39] - "Tax planning is becoming really important for clients. They want to understand their taxes more, what they are paying for, why they are paying that, and what's going to happen with the following year." ~ Torie Happe

[10:29] - "Tax planning isn't going to replace your overall financial plan. It's just a tactical piece to add to that financial plan." ~ Torie Happe

[20:53] - "Advisors make huge mistakes when they feel they need to boil the ocean. Instead of looking inward and saying, 'This is my book of business, these are the clientele that I want to go after, and this is my goal at the end of the day, how does technology help me get there?' They are just like shiny new objects and pick every one item from each section. They pick too many." ~ Torie Happe

Links

• Torie Happe on LinkedIn
• Torie Happe on Twitter
• Holistiplan
• LPL Financial
• AXA
• Nitrogen Wealth
• Flyer Financial Technologies
• Onramp Invest
• eMoney Advisor
• MoneyGuidePro
• Asset-Map
• Michael Kitces
• Alison Susko

Connect with Us

• Meet Ryan Donovan and George Svagera
• Check Out All of Orion's Podcasts
• Power Your Growth with Orion

3312-OAT-12/15/2023