“Vestwell makes us stickier with our client base,” said Jason Booth, CEO of tax advisory firm TaxStudio.

In order to compete effectively for U.S. talent, international companies must offer attractive workplace benefits—including retirement plans. To help their clients meet these expectations, TaxStudio partnered with Vestwell, a modern savings platform building a suite of solutions across retirement, health, and education. The partnership elevated TaxStudio’s value proposition and enabled them to become “stickier” with their international clientele, strengthening their client relationships, increasing loyalty, and enhancing their reputation as trusted advisors.

The Challenge: Overcoming the Trustee Barrier for International Clients

Cross-border U.S. tax advisory firm TaxStudio specializes in providing tailored tax solutions to US subsidiaries of non-U.S. parent companies. “At TaxStudio, our goal is to educate our clients as quickly as possible in order for them to be competitive in the market,” Jason explained.

For companies without executives in the U.S., setting up a retirement plan and making decisions about plan design, compliance testing, and ongoing administration often requires a level of expertise and local insight that they may not have—at least not initially. To bridge this gap and deepen their relationship with their clients, TaxStudio expanded their service offerings to include guidance on workplace retirement benefits.

However, they soon encountered a roadblock: TaxStudio’s clients often don’t have U.S.-based personnel qualified to serve as trustees for a workplace retirement plan, but their previous provider did not offer trustee services. “We knew we couldn’t continue working with our prior provider,” Jason said. Our clients needed us to find a solution.”

The Solution: Partnering With Vestwell for Comprehensive Service and Streamlined Technology

TaxStudio’s search for a new provider led them directly to Vestwell. “We interviewed three or four vendors,” said Brittney Packard, Payroll Specialist at TaxStudio. “Vestwell was the only provider with a solution that worked for our client base.”

Trustee Services

Unlike their previous provider, Vestwell is capable of offering trustee services for TaxStudio’s clients. This means that Vestwell helps protect plan assets. Vestwell’s trust company subsidiary acts as a fiduciary—an arrangement that gives TaxStudio’s clients peace of mind and enables them to navigate workplace retirement plans in the U.S. with greater ease and confidence.

Modern Technology

TaxStudio manages payroll and retirement plans for many of their clients, and Vestwell’s 360° payroll integrations make the process a breeze. “Entering payroll and contribution data manually can lead to a lot of problems and possibly result in errors. The integrations allow us to avoid all of that,” Brittney explained.

Plus, Vestwell’s advisor portal makes it easy for TaxStudio to check in on their clients’ retirement plans in real-time. “I can answer their questions 10 times faster,” Brittney said. “I can easily go into the platform and pull up their plan to find the answer to their question. Vestwell’s platform enables us to provide better customer service.”

Exceptional Support

TaxStudio’s clients expect the firm to be their “boots on the ground” in the U.S., and to do that, they leverage Vestwell’s robust support. A dedicated Vestwell service representative is always ready to address any inquiries promptly, which boosts TaxStudio's ability to deliver high-quality client service. This is particularly beneficial given the unique needs of TaxStudio's international clientele, who often face hurdles due to their limited familiarity with U.S. retirement plans.

The Impact: TaxStudio’s Increased Stickiness—and Scalability

TaxStudio has 12 plans with Vestwell, and the partnership has allowed them to improve the quality and efficiency of the services they provide to their clients. With Vestwell’s easy-to-use platform and dedicated support, TaxStudio has been able to exceed the expectations of their international clientele.

“Having dedicated support has made my life easier,” Brittney said. “Vestwell has a great team. Everybody who I talk to is very responsive and thoughtful. You don't always find that with other vendors. And then you're kind of stuck telling your client, ‘I'm working on it. I'm trying, but I'm just not getting anything back.’ I’ve never had that experience with Vestwell, which has been amazing.”

Jason explained that Vestwell makes TaxStudio “stickier” with their clients. By improving client retention, Vestwell helps the firm scale effectively and sustain growth over time. “Vestwell has a great platform,” he said. “It integrates with Gusto. We have a direct line of contact. These things all help create momentum for us as a firm. Our relationship with Vestwell allows us to be better than what we were with our prior provider.”

Conclusion

Vestwell's trustee services, modern technology, and robust support enable TaxStudio to enhance their value proposition to their international clientele. This increases both their “stickiness” with their current clients as well as their ability to scale.

By partnering with Vestwell, advisory firms can elevate their workplace savings offerings and accelerate their growth. Vestwell is a modern savings platform building a suite of solutions across retirement, health, and education. Contact us to learn how we can help you make a lasting impact on your clients’ financial futures.

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Click here to learn more about TaxStudio.

All testimonials and similar statements are made voluntarily and without any cash or non-cash compensation paid by Vestwell in exchange for the testimonial.