More Wealth for Your High Net Worth Clients?

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By Mitchell H. Caplan

For many advisors and clients, taxes will be the next big thing, says Glenn Frank, CPA/PFS, MS Taxation, Director of Investment Tax Strategy at Lexington Wealth Management and President of Frank Advising. “The taxes on investors’ portfolios have been hiked up across the board. And right now, tax laws are looking about as permanent as they get.”

That leads to Tax Alpha, a topic on which Frank has written numerous papers and articles. “Determine the average amount of taxes a client would pay on their portfolio over a lifetime. And when you can reduce those taxes to enhance performance — that difference is Tax Alpha,” Frank says. “The more you save on taxes, the more Tax Alpha you create, the more money you can put to work for the client and their family. It adds tremendous value.”

“And to generate Tax Alpha, the power of tax deferral is huge,” says Frank. “I like to quote Albert Einstein, who said, ‘The most powerful force on earth is compound interest.’ To be more precise — tax-deferred compound interest.”


In addition to advising clients for more than twenty years, Frank launched a master’s program in financial planning two decades ago and continues to teach. “I love the holistic approach to planning — there’s a natural fit between financial planning, investment planning and tax planning. Taxes are really a common thread that goes through everything.”