Advisors Can Securely Upload Client Tax Returns to RightCapital, Proposing Plan Changes to Reduce Tax Burden in a Few Clicks.
SHELTON, CT / ACCESSWIRE / January 14, 2025 / RightCapital, the fastest-growing financial planning software for financial advisors, today announced a powerful new tool to streamline and enhance how advisors deliver tax planning to clients. The Tax Analyzer leverages Optical Character Recognition (OCR) technology to help advisors identify tax saving opportunities for clients in a matter of seconds. With this new offering, advisors can securely upload client tax returns into RightCapital, which the system can read and analyze, instantly allowing advisors to identify plan updates that could reduce tax burden, creating better outcomes for clients.
"When we explore new potential updates to RightCapital, we aim to deliver efficiency and efficacy - improving client outcomes while streamlining advisor workflows," said Shuang Chen, co-founder and CEO of RightCapital. "With the new Tax Analyzer, advisors can easily identify tax-smart opportunities for their clients with just a few clicks. We are thrilled to offer this capability to advisors to enhance how they provide tax planning to clients."
The Tax Analyzer uses OCR technology to read client tax returns, pulling relevant data points into the system which advisors can review and confirm. If any data is inaccurate, the advisor can easily adjust those values without resubmitting the entire return. Advisors can use the tool to identify any changes the client could make to past or future returns to improve their overall tax position. The Tax Analyzer also identifies the impact proposed adjustments could have on key thresholds, including certain deductions, exemptions, and credits.
"To deliver a great client experience, we constantly evaluate new ways to consolidate our tech stack and simplify our client-facing platforms," said Eric Franklin, RightCapital customer and Managing Partner of Prospero Wealth. "With exciting new features like the Tax Analyzer, RightCapital allows advisors to further centralize their client data into a user-friendly interface. We look forward to exploring this new tool and uncover how it can benefit our clients."
The Tax Analyzer is RightCapital's latest expansion to its comprehensive suite of tax planning capabilities. This news follows RightCapital's recent launch of the tax strategies tool, which enables advisors to easily identify changes to asset location strategy, withdrawal strategy, and Roth conversion strategy to generate the optimal tax-adjusted ending portfolio value for clients, all with a single click.
The Tax Analyzer is available to all advisors leveraging RightCapital's Premium and Platinum subscriptions. To learn more, visit the RightCapital website, or contact RightCapital Sales at sales@rightcapital.com or (888) 982-9596 Opt. 1.
Advisors interested in learning more about the Tax Analyzer tool can register for RightCapital's inaugural virtual event, RightInsights. RightInsights will take place on Thursday, February 6, 2025, and will feature an overview of the new Tax Analyzer. It will also feature engaging sessions from speakers such as Michael Mitces and Preston Caldwell, the chief US economist for Morningstar. The event offers up to three free CFP® continuing education credit sessions.
Click here to register for RightInsights.
About RightCapital
RightCapital's mission is to create Right Plans for Real People. RightCapital is used by thousands of financial advisors to grow their practices and set their clients on the path to financial success. Founded in 2015, RightCapital is the fastest-growing financial planning software with the highest user satisfaction among advisors (Source: The Kitces Report - 2023 AdvisorTech Study). For more information, visit https://www.rightcapital.com.
RightCapital media contact: marketing@rightcapital.com
SOURCE: RightCapital Inc.
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