LPL’s Tax Planning Offer Helps Advisors Meet Investor Demand

Last Edited by: LPL Financial

Last Updated: October 24, 2023

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CHARLOTTE, N.C. – October 24, 2023 – LPL’s newest Tax Planning Service helps advisors proactively address a question on every client’s mind – am I paying more than I have to in taxes?

In response to the demand for strategic tax planning, LPL Business Solutions’ new Tax Planning Service pairs its dedicated tax professionals with advisors to consult and create proposals designed to improve their clients’ financial outcomes. Tax professionals can help advisors identify clients who would benefit from the service, create a detailed analysis of their tax situation, and offer actionable roadmaps seeking to maximize investment outcomes and improve tax efficiency. With this new service, advisors can offer sophisticated tax planning by leveraging LPL’s tax professionals without hiring their own, which can be a potential growth driver by adding a valuable service that clients aren’t getting elsewhere.

“LPL’s Tax Planning Services can serve as an extension of the advisor’s team,” said Kraleigh Woodford, LPL, senior vice president, planning and advice services. “We believe that there is an opportunity for financial advisors to differentiate themselves by offering in-depth strategies that can proactively preserve and enhance client portfolios. With Tax Planning [Services], advisors can now confidently deliver customized tax analysis and planning services to clients directly, instead of referring tax-related issues to accountants or other tax specialists.”

Why Tax Planning Services

As tax laws are continually changing, this new service enables advisors to have tax planning discussions with clients more confidently. LPL’s in-house professionals can support advisors through an entire range of services, from addressing ad hoc technical tax issues to providing detailed, customized tax planning scenarios and one-to-three-year illustrations.

“We believe advisors who can increase their value proposition and offer a one-stop-shop solution can ultimately strengthen client outcomes and enhance overall satisfaction,” added Woodford. “Tax Planning Services can also be combined with other Business Solutions to strategically build a compelling business case that can attract new clients for advisors and improve their existing client relationships.”

While outsourced tax planning support can help deepen an advisor’s service offerings, it’s also ideal for those looking to better serve high-net-worth clients and complements LPL’s robust high-net-worth offerings and capabilities. These include: an alternative investments platform, trustee services, an advanced estate and philanthropy planning team, complex life insurance planning, comprehensive reporting tools, an annual tax guide, tax management capabilities within LPL’s unified managed account platform (Model Wealth Portfolios), and discounted access to tax planning software. Tax Planning Services is just one of LPL’s comprehensive tax-related resources that is designed to assist our advisors with delivering holistic investment and tax management advice to their clients.

To take advantage of tax-planning opportunities, visit LPL’s Tax Planning Services site.


LPL’s Paraplanning Services provides professionals that can build, enhance or expand a financial planning practice. 

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) was founded on the principle that LPL should work for advisors and enterprises, and not the other way around. Today, LPL is a leader in the markets we serve, serving nearly 22,000 financial advisors, including advisors at approximately 1,100 enterprises and at approximately 550 registered investment advisor (RIA) firms nationwide. We are steadfast in our commitment to the advisor-mediated model and the belief that Americans deserve access to personalized guidance from a financial professional. At LPL, independence means that advisors and enterprise leaders have the freedom they deserve to choose the business model, services and technology resources that allow them to run a thriving business. They have the flexibility to do business their way. And they have the freedom to manage their client relationships because they know their clients best. Simply put, we take care of our advisors and enterprises, so they can take care of their clients.

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Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

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