Retirement Tax Services Podcast Why Tax Proficiency is the new baseline of trust with Daniel Friedman
Dec 15, 2025
In this discussion, Daniel Friedman, CEO of WMGNA Tax Out Financial Solutions, shares his three decades of experience in tax-led financial advisory. He emphasizes why tax proficiency is now essential for building trust with clients. Daniel explains the growth of their subscription model that encompasses tax prep and planning. He also highlights how proactive tax conversations can prevent surprise bills, and underscores the importance of coordinating with tax professionals for improved client outcomes.
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Subscription Started By Showing Tax Savings
- Daniel Friedman and Brian Beck launched a subscription service in 1995 after spotting clients overpaying on taxes and needing proactive planning.
- They promised to save clients at least $5,000–$10,000 or the financial plan was free, which drove early sign-ups.
Run Year‑End Tax Approximations
- Do proactive year-end tax approximations so clients don't face surprise April tax bills or forced asset sales.
- Communicate expected tax outcomes in December to keep client conversations celebratory, not defensive.
Tax Proficiency Builds Instant Credibility
- Tax proficiency creates instant credibility because much of client financial life is summarized on a 1040's first pages.
- Most planning issues revolve around a few core areas like tax placement of investments and simple tax data.