TaxStatus, a provider of tax data intelligence solutions, said Wednesday that Ric Edelman, founder of Edelman Financial Engines, and Eric Clarke, founder and former CEO of Orion Advisor Solutions, have joined its Board of Directors.
TaxStatus also welcomed Randy Bullard, former global head of Wealth at State Street, to its Advisory Board.
TaxStatus gathers taxpayer consent and official financial records using electronic authorization processes integrated into the IRS.gov platform.
“It’s a pivotal time for TaxStatus as we launch new lead generation solutions for advisors that will completely revamp how they do business,” said CEO Kevin Knull in a statement.
“Eric and Ric are two of the brightest minds and thought leaders in the industry. We are very fortunate to add them to our team, and I am confident they will be immensely helpful as we head into our next chapter of growth and innovation,” Knull added.
According to Edelman, who also founded the Digital Assets Council of Financial Professionals, “taxes play a vital role in financial planning, yet it is a major source of annoyance for clients and advisors alike. I’m excited about the technology TaxStatus is delivering that will improve outcomes for clients while creating a new way for advisors and their firms to be of value to them.”
Edelman, Clarke and Bullard will support TaxStatus as it continues to help advisors find new clients as older FAs retire, as well as collect clients’ tax data — with consent — directly from the IRS, quickly, comprehensively and accurately.
"TaxStatus provides clients with recommendations for financial planning based on this comprehensive and accurate data to dramatically improve the client’s financial situation and helps them achieve their own financial goals," the firm said.
In August, TaxStatus launched an enterprise lead generation solution that the firm said enables advisors "to deploy a custom, turnkey solution that leverages their existing marketing efforts."
The TaxStatus LeadGen solution "relies upon TaxStatus’s core technology and provides firms a consent-based solution that delivers fully authenticated data to ensure advisors are equipped with the information necessary to make more informed recommendations," the firm added.
According to TaxStatus, LeadGen provides advisors with permission-based, comprehensive, IRS-verified prospect profiles including full demographics (name, spouse name, date of birth, address, email, phone), income sources, business ownership, investment accounts, real estate holdings, and tax standing, the firm said.
"This unprecedented level of data accuracy and depth enables firms to focus their resources on genuinely qualified prospects while dramatically reducing the time spent in discovery meetings," the firm noted.
(Shown in photo: Eric Clarke, left, and Ric Edelman)
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