Discover Your Hidden Practice

Did you know your clients’ tax returns are roadmaps to offering financial services?
The following questions will give you a quantifiable glimpse of potential client needs that already exist within your practice and, ultimately, help you make a sound business decision to affiliate with H.D. Vest.

Start by reviewing your clients’ tax returns. Do you have clients:

With dependents? If so, how many?
With more than $400 on Schedule B? If so, how many?
With Schedule C income and no retirement plan contributions? If so, how many?
With multiple W-2s from an employment change? If so, how many?
Eligible for an IRA with no IRA contribution? If so, how many?
Who file “married filing jointly” with only one W-2? If so, how many?

These are just a few of the indicators the tax return provides to guide you in determining the financial needs you may be able to help your clients resolve.

Activity	Hours Spent	Revenue Generated
For a client with dependents, set up a Section 529 College Savings Plan	Two hours to meet with the client and complete paperwork.	$12,000 average investment Assuming 5% commission and a 70% payout =$420* $210/hour

* Payouts range from 50-90% based on production

This is a generalization as some clients will invest more and some less, but from a time commitment standpoint, the revenue can make sense and your clients need your help with this financial need.

We make this sound simple because it can be. Of course, you will want training to learn to choose the appropriate solutions for the issues you uncover by examining your clients’ 1040 forms. You need to align yourself with a financial services partner that can provide the training, tools and support you will need to confidently approach your clients with financial solutions.