Drake Software, which provides professional tax software, has partnered with broker-dealer HD Vest Financial Services to help its users offer financial planning services.

Drake and HD Vest’s combined offering aims to encourage Drake’s 50,000-plus client firms to explore tax-focused financial services, including planning, securities, insurance, money management services and banking solutions, as a way to expand their practice. HD Vest supports a network of tax and non-tax professionals who provide financial planning and wealth management services.

Using HD Vest's services in combination with Drake's tax preparation software, Drake Tax, is expected to provide an additional source of client and recruitment leads for advisors and tax professionals, giving them an opportunity to optimize their client service ahead of the upcoming tax season.

“We are focused on building out innovative solutions that enable our advisors and tax professionals to provide holistic wealth management for their clients. Working with Drake to offer these solutions to their clients demonstrates our commitment to this goal,” said Bob Oros, CEO of HD Vest Financial Services, in a statement. “Our advisors benefit from direct integrations that streamline and strengthen their tax services, further enabling them to move taxes to the center of the financial planning and wealth management conversation.”

“Tax professionals are perfectly positioned to offer financial counsel to their clients.” added John Sapp, vice president of strategic development at Drake Software. “We look forward to educating our clients on how HD Vest's proven advisor model can help them expand their service offering and grow their practice.”

Tax preparation pie chart

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