Taxes influence nearly every component of a comprehensive financial plan, yet they are often treated as a secondary consideration. In this Q&A, two of our financial advisors share how earning the Enrolled Agent (EA) designation has meaningfully enhanced their expertise and strengthened their ability to guide clients through increasingly complex tax decisions.
From year-round tax planning to coordinating with CPAs and estate attorneys, their insights offer a closer look at how a proactive, integrated approach to taxes can make a meaningful difference in long-term financial outcomes.
Andrew Silver, CFP®, EA
What is the Enrolled Agent (EA) designation, and what motivated you to obtain this credential?
The Enrolled Agent (EA) designation is a federally authorized tax credential granted by the IRS to individuals who demonstrate expertise in U.S. taxation. Some professionals earn the designation through qualifying experience with the IRS, while I obtained it by passing the three-part Special Enrollment Examination. EAs have unlimited rights to represent taxpayers before the IRS in audits, collections, and appeals.
I have always had a strong interest in helping clients navigate their tax situations. I have found that many people experience confusion and stress surrounding taxes, so being able to educate clients and help improve tax outcomes is particularly rewarding. Because tax planning involves so many moving parts, I decided to deepen my knowledge in this area to better serve my clients.
How do you incorporate tax planning into your clients’ financial plans?
Tax planning is integrated into every stage of the financial planning process, from cash flow and investment strategy to retirement and estate considerations. We aim to gain a thorough understanding of a client’s financial circumstances and identify opportunities to improve after-tax outcomes over time.
We then leverage tax planning software to forecast a client’s projected tax situation and help guide strategies we may want to implement. Examples include Roth conversions, tax-loss harvesting, and retirement withdrawal sequencing. The goal is to align each financial decision with the client’s long-term, tax-efficient plan.
How do you work with clients to minimize unnecessary taxes on their investments and income?
For investments, we work closely with our portfolio management group to develop tax-aware strategies designed to help reduce taxes whenever possible. These strategies may include placing tax-inefficient assets in tax-advantaged accounts, implementing investments designed to harvest losses and offset gains, and utilizing approaches such as charitable giving or income deferral when appropriate.
We also monitor changes in tax law, along with each client’s evolving circumstances so we can adjust strategies proactively. The emphasis is always on improving net, after-tax outcomes.
How do you work alongside CPAs or estate attorneys to ensure everything is optimized from a tax perspective?
We welcome the opportunity to collaborate with our clients’ accountants and attorneys to help ensure strategies are aligned and fully implemented. This involves proactive communication when identifying areas where tax outcomes may be improved.
By maintaining open communication, we help avoid surprises and gain the valuable perspective of another trusted professional. The result is a more cohesive plan that reflects both tax efficiency and the client’s broader goals.
Do you often find that new clients have overlooked tax-saving strategies?
It’s uncommon for a perspective client to come to us without opportunities to improve their tax situation. Tax planning advice is highly individualized, so there is no one-size-fits-all approach.
For some prospective clients, we recommend strategies designed to reduce income during high-earning years, such as after selling a business or receiving equity compensation. In other cases, we may accelerate income through strategies like Roth conversions during years when income is temporarily lower and clients may be in a more favorable tax bracket.
In every case, recommendations are made only after gaining a comprehensive understanding of the client’s financial circumstances and objectives.
Brandon Schwan, CFP®, CPWA®, EA
What is the Enrolled Agent (EA) designation, and what motivated you to obtain this credential?
An Enrolled Agent is the highest credential awarded by the IRS. It is a federally authorized designation earned by passing a rigorous three-part examination covering individual taxation, business taxation, and representation.
Most people face three major financial expenditures in their lifetime: buying a home, raising children, and paying taxes. What makes taxes unique is that, unlike the other two, they return every single year.
We help clients plan for many of life’s major milestones, so it only made sense to develop expertise in the one financial obligation that recurs annually.
I wanted to be the advisor who could see both sides of the ledger—not just growing wealth, but protecting it from unnecessary taxation. The EA designation gave me the technical credibility to do exactly that.
How do you approach conversations with new clients who haven’t integrated tax strategy into their investment planning?
Most people intuitively understand that taxes matter; they just haven’t had an advisor connect the dots between investment decisions and tax outcomes.
My starting point is often a review of the prior year’s tax return. That single document reveals how income is being sourced, where opportunities have been missed, and where unnecessary exposure may exist.
In my experience, that review nearly always uncovers something meaningful. Once clients see the tangible impact of what may have been left on the table, the value of integrating tax strategy into the broader financial plan becomes much clearer.
How has this designation enabled you to adopt a more proactive, year-round approach to tax planning?
Tax planning naturally gravitates toward year-end because that’s when most advisors and clients think about it. The challenge is that by December, many planning opportunities are already limited. The EA curriculum fundamentally changed how I think about the calendar. Tax planning is a year-round discipline, not a fourth quarter scramble.
What impact do you think taxes have on a person’s overall wealth?
Taxes are arguably the single largest drag on long-term wealth accumulation, often more impactful than investment selection or even savings rate.
A high earning household that does not plan intentionally for taxes can easily lose a substantial percentage of incremental wealth to federal and state taxes over a lifetime. When estate and inheritances taxes are layered in, the impact can become even more significant.
The compounding effect of tax efficiency is powerful. Money that is not lost to taxes remains invested, continues to grow, and compounds over time. Over decades, the difference between a tax-aware plan and a tax-indifferent one can amount to hundreds of thousands, if not millions, of dollars.
How do you coordinate tax planning with estate planning and wealth transfer strategies?
Taxes and estate planning are deeply intertwined, and treating them separately can be one of the most common and costly mistakes.
Decisions involving titling assets, beneficiary designations, trusts, charitable giving vehicles such as Donor Advised Funds (DAFs), and Roth conversions all carry significant tax implications during a client’s lifetime and after wealth is transfered.
My role is to proactively identify those intersections so a client’s estate plan does not create unnecessary tax consequences for heirs. The goal is efficient wealth transfer, not just efficient wealth accumulation.
