Can Family Offices Ever Democratize Without Tax Professionals?
If you want to win Wimbledon, find out what Serena Williams has for breakfast. If you want truly satisfied wealth management clients, emulate the family office model and put tax pros in key positions.
Tax Professionals and the Wallet Share War
The tax professional’s unique position, a combination of deep knowledge of the client’s financial situation and inherent trustedness, gives them the opportunity to reap substantial rewards by expanding the scope of their offers, but the risks entailed are significant. The trick is to stay in the role of true fiduciary—and not try to engage in salesmanship.