Using Holistiplan, Concert Financial Planning Uncovered a $30,000 Tax Win

Matt Smith founded Concert Financial Planning with the goal of bringing comprehensive financial planning to Big Law attorneys, helping legal professionals make the most of their money along their professional journey.

From the very beginning, Smith knew that tax planning was an important piece of that puzzle. As a CFA®, CFP®, CIMA® and CAIA®, Smith takes his work seriously, and works hard to bring the best resources to his clients’ portfolios. That’s why he’s been with Holistiplan since the very beginning – using tax-planning deliverables and software to optimize client accounts each and every day. 

His approach to financial planning has led to countless victories, both big and small. One of his most recent wins? A $30,000 breakthrough fueled by award-winning technology and top-notch communication.

Finding Success with Holistiplan

For this particular client, Smith handled the financial planning while a separate tax advisor had created and filed their tax return. Once the tax paperwork was uploaded through Holistiplan, it was immediately flagged as an error and a member of the Holisitplan team reached out directly to Smith. 

“The client’s tax advisor had accidentally added both AMT tax – which was not owed – as well as the ordinary income tax calculation,” Smith explains. “That caused a massive overpayment in taxes for the client.”

Rather than the $60,000 in taxes the client had planned on paying, their taxes owed were halved down to $30,000. 

“We were able to go back to the client immediately after they’d signed up and provided their tax return, and demonstrate significant value by getting them another $30,000 in refunds when they filed an amended tax return as a result of the analysis done by Holistiplan.”

The result? An overjoyed client with increased confidence in Concert Financial Planning. By catching a tax return error straightaway, Smith was able to demonstrate his comprehensive approach to financial planning and prove his value to the client. 

“The discovery by Holistiplan of this overpayment of $30,000 in taxes really validated the client’s election to change advisors and come over to Concert Financial Planning,” Smith says. “With the $30,000, we were able to put that toward other goals such as saving for their child’s education and saving for retirement.”

Watch the full video above to hear more about Smith’s success with Holisitplan, and be sure to check out our other Advisor Success Stories to explore the real-world impact of tax planning moments.

Find Your Success with Holistiplan

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