How Wealth Management Assistants Can Add Value During Tax Season

Tax season can be a busy time of year for Financial Professionals, and nobody knows this better than their Assistants. 

Avantax conducted a Q&A session with Willis and Machnik Financial Services Director of Client Relations JessAnne Samons for her advice to other Wealth Management Assistants during tax season.

What is tax season like at Willis & Machnik?
Historically, tax season has been a relative non-factor as we have been a wealth management only firm – that is until early 2024. As we enter the 2025 tax season, we now have partnerships in place with three separate tax and wealth management firms. Our team uses RedTail CRM to create activity templates specific to these firms and their clients’ unique tax and wealth management needs. This keeps us and the Financial Professionals organized and on task!

Do you have any practice management tips or other advice you could share with other Assistants as they work through tax season?
Tax season is a great time to review suitability, beneficiaries and discover new opportunities! Preparing tax returns gives us a chance to see what other potential assets clients may have held outside; however, following up on those potential opportunities is an entirely different animal. We are fortunate to have the capacity for an Assistant to sit in almost every client meeting that occurs in our office or virtually. This gives us a chance to immediately create follow-up activities and reduces the number of lost opportunities. I know this can be unrealistic for some firms, but I would recommend an Assistant join strategic meetings to create efficiencies and a memorable client experience.

What tool/report/system do you use every day that helps you in your role? How does it help you?
RedTail is the standout answer to this question because it helps to manage the day to day for everyone in our firm. I have recently been introduced to Scribe and it’s been an incredible addition to our training and organization. Scribe helps document procedures and processes in a format that is fun and easy to use. We can quickly and easily create and share with each other, which makes us consistent within our practice.

How does Avantax support you to excel as an Assistant?
I had the privilege of participating in Avantax’s Rise to Elite Assistant Program this year, and I cannot advocate enough for this experience. The coaches are a fantastic resource and the relationships we create through this program are invaluable! I’m a firm believer that one of the best things about the Avantax Community is the willingness to share best practices amongst each other. It’s a tremendous asset to be part of such an expanded and knowledgeable team across firms!