Holistiplan: Comprehensive Tax Planning Software for Financial Advisors
Holistiplan is a cutting-edge tax planning software designed specifically for financial advisors, aiming to streamline and enhance the tax planning process for both advisors and their clients. Here’s a detailed overview of what Holistiplan offers:
What Holistiplan Does
Holistiplan leverages advanced Optical Character Recognition (OCR) technology to read and interpret tax returns swiftly, generating personalized, actionable tax planning reports in minutes. This technology significantly reduces the time and effort required for manual data entry, allowing advisors to focus on strategic planning and client relationships.Key Features and Functionality
Advanced OCR Technology
Holistiplan’s OCR technology reads tax returns in seconds, ensuring accuracy and efficiency. This feature pre-fills scenario analysis screens and generates customized, white-labeled tax reports complete with key details, calculations, and phaseouts from the client’s tax return.Customized Reports
The software produces detailed, personalized reports tailored to each client’s specific financial situation. These reports are branded with the advisor’s firm logo and disclaimer, making them easy to review and share with clients. Reports can be saved as PDFs, emailed, or printed for in-person review.Scenario Analysis
Holistiplan includes a robust scenario analysis tool that helps advisors quickly identify key income breakpoints for various tax planning opportunities such as Roth conversions, tax-efficient withdrawals, charitable giving, and more. This tool allows for immediate opportunity analysis and suggestions for clients.Range Calculator
The Range Calculator identifies the tax impact of adding $1,000 increments to ordinary income or capital gains, providing a clear picture of how different income levels affect tax obligations.Client-Facing Explainers
Premium subscriptions include explainer reports for concepts like Donor Advised Funds (DAFs), Qualified Charitable Distributions (QCDs), and other tax strategies. These reports help clients understand the “why” and “how” behind these strategies and their estimated tax benefits.Integrations and Multi-User Access
Holistiplan integrates with various platforms such as Redtail, WealthBox, FP Pathfinder, and Kitces.com to enhance workflow and streamline processes. It also supports multiple users within a single account, eliminating the need for separate accounts and ensuring secure access with multi-factor authentication.Additional Tools and Features
- Tax Prep Letter: Generates uniform, branded letters for tax time, creating positive touch points with clients and CPAs.
- Standalone Scenario Analysis: Allows modeling of planning scenarios without the need for a tax return.
- Weekly Age Reminder Digest: Provides advisors with a weekly email digest of age-related reminders for their clients.
- CFP® Continuing Education Credits: Offers 12 free hours of CE credits for premium subscribers with no user limit.