Silver Oak Securities Partners with TaxStatus to Revolutionize Financial Data Access for Advisors
Silver Oak Securities has partnered with TaxStatus to provide independent financial advisors with direct access to IRS-verified financial data, addressing critical data accuracy and efficiency challenges in wealth management.
Silver Oak Securities, Inc. has formed a strategic partnership with TaxStatus to provide its network of independent financial advisors with direct access to IRS-verified financial data and continuous account monitoring. This integration eliminates the traditional back-and-forth process of collecting tax returns and financial documents, allowing advisors to access ten years of historical financial data through a simple 60-second client e-signature process.
The partnership addresses a fundamental challenge in financial planning where clients often work with multiple advisors and hold assets across various institutions, making comprehensive guidance difficult. TaxStatus connects directly to the IRS to pull verified financial information, analyzing over 3,000 data points per taxpayer to uncover held-away assets, business ownership, real estate holdings, retirement accounts, and other financial details that typically require hours of manual collection. The platform then monitors clients' IRS accounts in real-time for three years, alerting advisors to tax liabilities, refunds, audits, or filing discrepancies before clients receive official notices from the IRS.
Billy Hopkins, CEO of Silver Oak Securities, emphasized the strategic importance of this partnership, stating that TaxStatus solves one of the most time-consuming challenges advisors face in obtaining complete, accurate financial data. The collaboration provides Silver Oak advisors with a significant competitive advantage in both prospecting conversations and ongoing client service initiatives by giving them visibility into the full financial picture, including businesses, limited partnerships, trusts, and other complex structures that wealthy clients often use to hold assets.
Kevin Knull, CEO of TaxStatus, highlighted that financial plans are only as strong as the data they're built on, and this partnership ensures recommendations are grounded in verified financial data rather than estimates. The platform supports total household management, allowing advisors to monitor financial data for spouses, dependents, estates, trusts, businesses, and investments with at least 1% ownership. Security features include enterprise-grade protection through SOC 2 Type II compliance and AES-256 encryption, along with built-in FINRA-compliant KYC verification. Advisors can access TaxStatus through preferred enterprise pricing billed directly through Silver Oak Securities. For more information about Silver Oak, visit https://joinsilveroaksecurities.com. To learn more about TaxStatus, visit https://www.taxstatus.com.