TaxOptix makes tax savings the doorway to 401(k) plans

Stephen Daigle, the serial entrepreneur behind BidMoni, wants wealth advisors to stop leading with the 401(k). His newest venture, TaxOptix, starts with a tax-return review for small business owners and treats the retirement plan as what comes next. "We struck a nerve with this. This is the missing link. This is what works," he told NAPA Net.

The pitch targets a gap in how small companies get advice. Bigger firms have internal tax teams that research credits and deductions, while the local CPA serving a smaller client often files the return and checks the books. When an advisor brings a legal mitigation strategy to that CPA, the owner can face pushback because the CPA lacks the resources to vet it. "Small businesses are kind of hung out to dry," Daigle said. His answer is to link the advisor to a CPA or third-party administrator, not train everyone to be a plan-design expert.

Daigle keeps TaxOptix separate from BidMoni's Fiduciary Shield marketplace, calling it a better access point for the generalist because it shows where a business can be helped.

The economics are a patience play. Small businesses and startups may not have much in investable assets — "they're putting everything back in the business," he said — so the fees are thin at first. "But one day a lot of those relationships will eventually turn into something. More advisors have to think like that." The tax return earns trust; the 401(k) then opens insurance, health and wealth work, and the relationship carries the revenue later.