Fintech founder urges advisors: Think taxes, help clients

February 12, 2024
1 min read

Bill Harris, former CEO of Personal Capital, Intuit TurboTax, and PayPal, has released an “Investment Tax Guide” to encourage financial advisors and investors to consider the impact of taxes on investment performance. Harris argues that tax strategy is often more important than investment strategy and that many people focus too much on pretax yield and too little on the impact of paying taxes. The guide includes brief tutorials on 10 tax strategies, such as tax-loss harvesting and tax-advantaged accounts, and highlights the potential for tax savings of up to 50%. Harris also emphasizes the need for better technology to help financial advisors use these strategies effectively and is developing software for tax-aware managed accounts. The guide aims to educate investors on how to keep more of their earnings by minimizing taxes, which Harris believes is the future of investing.

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