Top Five Reasons Your Accountant and Financial Advisor Need to Be on the Same Team

Picture this: During a sit-down meeting with your Financial Advisor, you agree to run something by your CPA. You send an email to your CPA later that evening, hoping you’ve adequately articulated your question. Once you hear back from your CPA, you set up a phone call to talk through the matter. You connect with your CPA a couple days later, only to find out your CPA has questions about what your Financial Advisor wants you to do. As you dial your Financial Advisor’s office, you’re beginning to feel like a ping pong ball…

Wouldn’t it be easier if your Financial Advisor and accountant were on the same team? Here are five reasons why this could make sense for you.

1. Holistic financial planning

Typically your Financial Advisor and accountant will work together on your behalf, but this still requires back and forth communication, typically coordinated by you. Unfortunately, this can lead to misunderstandings about what you wish to accomplish.

If your Financial Advisor and accountant are on the same team (i.e., they’re synchronized), they will know your full tax situation, investment goals, and overall financial objectives. No need for you to ever be the messenger.

2. Increased tax efficiency

Wouldn’t it be nice to get insights into the tax implications of your financial decisions—without having to call someone to figure it out? This is what you get when your Financial Advisor and CPA share an office.

The result: You’re able to make tax-efficient investment choices and potentially reduce your tax liability, which can ultimately increase your after-tax returns. Most important, you’re able to reduce the risks associated with miscommunication and misunderstanding.

3. Save money and time

Coordinating a team of advisors can be a time-consuming endeavor. Having your Financial Advisor and accountant in one spot means you’ll deal with only one person, which can lead to a more timely and seamless decision-making process. Moreover, you could potentially reduce some of your costs by bundling fees for these services.

4. Greater financial confidentiality

Not only does having a single point of contact help to speed up and bring consistency to your financial planning and decision making—it also allows for greater confidentiality of your financial information. Rather than sharing your financial information between different professionals and firms, it’s securely in one place.

5. More peace of mind

Managing the professionals who take care of your investment portfolio and tax return can be overwhelming. This is especially true if you’re a small or closely held business owner who finds yourself focused on getting through each day.

This is why we created InTandem. With an experienced team of Financial Advisors and tax experts, we integrate your financial services to help you gain financial opportunities, tax and time savings, and peace of mind.

To learn more about how you could pay less tax and find more investment opportunities, contact us today.