Episode 263: The Future of Tax Services for Financial Advisors

Financial advisors can deepen client relationships by turning tax preparation into an integrated source of insight, strategy, and year-round value. In this episode of The Registered Investment Advisor Podcast, host Seth Greene interviews Richard Lavina, Co-Founder and CEO of Taxfyle, who shares how his experience as a CPA inspired him to co-found Taxfyle, a digital platform connecting individuals, businesses, and financial firms with licensed tax professionals. He explains how wealth managers and RIAs can integrate tax preparation into their existing services, access valuable client data, and provide more coordinated financial guidance without acquiring a traditional accounting practice. Richard also discusses the accounting talent shortage, the growth of fractional CPA work, the impact of AI, and the importance of preserving human connection as technology handles more administrative tasks.    Key Takeaways:   • Taxfyle was inspired by the flexibility of the gig economy and the idea that CPAs should have greater control over when and how they work. • The platform connects clients and financial firms with a network of licensed CPAs and IRS-enrolled agents. • Wealth management firms can embed and white-label tax services without purchasing or operating a separate CPA practice. • Tax information can help advisors better understand a client’s financial position, investment needs, estate planning concerns, and overall financial wellness. • Integrating tax services allows advisors to maintain greater visibility and control over the client relationship.   Richard Lavina is Co-Founder and CEO of Taxfyle, an AI-powered tax preparation and planning platform that simplifies tax services for financial advisors, fintech companies, fractional CFOs, and their clients. With nearly a decade of experience leading Taxfyle's growth, Richard brings expertise in both technology and finance. Taxfyle is the United States’ largest human-in-the-loop AI tax platform, with 7,200 CPAs and IRS Enrolled Agents in its network.    Connect With Richard:   Website: ⁠https://www.taxfyle.com/⁠ Facebook: ⁠https://www.facebook.com/taxfyle/⁠ Instagram: ⁠https://www.instagram.com/Taxfyle/⁠ X: ⁠https://x.com/Taxfyle⁠ YouTube: ⁠https://www.youtube.com/channel/UCzodnNvli_8Wip0rT6v6_lA⁠