HD Vest Investment Services has launched its V4 Client Experience, which combines a new advisor-client engagement process on a fully integrated basis with HD Vest’s proprietary technology and comprehensive wealth management tools.
The V4 Client Experience brings together a number of key resources launched for HD Vest advisors over the past two years – including, among others, the VestAdvisor Select portfolio management service, as well as 1040 Analyst – to provide a logical and seamless pathway for tax professionals and financial advisors to lead their clients from a discussion of their annual tax returns into the creation and implementation of a customized, holistic and tax-sensitive financial plan.
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The V4 Client Experience process was launched today at CONNECT2014, HD Vest’s annual conference held in Denver, CO, and is immediately available to all 4,500 HD Vest-affiliated independent financial advisors. V4 outlines four simple steps to facilitate a superior advisor-client experience. It enables advisors to:
- Lead with taxes – Using HD Vest’s recently launched 1040 Analyst automated tax analysis tool, a tax professional/financial advisor can provide each client with a customized report based on the client’s most recent tax return data. This report reveals investment planning opportunities as well as potential blind spots and vulnerabilities.
- Define and Prioritize – Insight synthesized from the 1040 Analyst report provides the advisor with a smooth transition into a planning discussion, focusing on the key wealth management issues the client is currently facing or will face in the future. Identifying the client’s most relevant financial issues is supported by referring to HD Vest’s 8 Wealth Management Issues®. By eliminating those issues that do not apply, the advisor and client can prioritize those that remain.
- Create a Plan – Harnessing HD Vest’s VestVisionTM process and technology, an advisor can answer the client’s single most important question: "Am I on track to reach my goals?" Through a conversation about the client’s financial goals – including both ideal goals as well as acceptable goals – the advisor can create an ongoing plan to help a monitor progress towards a clients’ goals, while remaining flexible to address "what if" scenarios along the way.
- Invest to The Plan – The final step is to invest in service to the plan that has been created. HD Vest’s unique VestAdvisor Select model portfolios, pre-loaded into VestVision software, provide wealth management solutions that include institutional-level asset allocation, diversification and disciplined rebalancing for each client portfolio. Using VestAdvisor Select, investment decisions can be immediately implemented and regularly updated on an ongoing basis.
Scott Rawlins, managing sales director at HD Vest, said: "We recognize that tax-savvy wealth management can add appreciably to a client’s overall financial health, and that no professional understands the totality of a client’s financial picture as completely as his or her tax advisor. We are therefore fundamentally committed to the value offered by our Advisors in their ability to view, and asses, the impacts of both tax and financial services. With V4, we have created a fully integrated process through which a tax professional can confidently move a conversation regarding specific tax-related insights into a meaningful financial planning* discussion and then generate a holistic, customized financial plan, supported by our sophisticated tools and wealth management solutions that make the process effective and efficient.
"Moreover, V4 provides our financial advisors with a competitive advantage by being unique, indispensable and repeatable. It is unique in that it is supported end-to-end by proprietary HD Vest technology, starting with our breakthrough 1040 Analyst automated tax analysis tool; it is indispensable in that it generates a realistic, customized plan that is instrumental in helping each individual client reach his or her financial goals; and finally, it is repeatable in that each year the client will receive an updated 1040 Analyst report, renewing the process to identify important issues as a client’s financial situation, family dynamics and goals continue to evolve."
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