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The evolution of the tax adviser

Featuring Jeffrey C. LeSage, Partner, Chief Talent Officer, Cerity Partners
The evolution of the tax adviser
Jeffrey C. LeSage
Jeffrey C. LeSage, Partner, Chief Talent Officer, Cerity Partners, leads Cerity Partners’ efforts to build a world-class tax advisory practice capable of serving high-net-worth individuals, business owners, and companies. Before joining Cerity Partners, Jeff was the Americas Vice Chairman for Tax Services at KPMG.

Q How has the role of the tax adviser changed over the past decade?

A The tax adviser’s role has changed from largely focused on tax compliance to that of a trusted adviser for all things financial in clients’ personal lives. This includes many areas outside of the standard tax function, such as financial planning, investment decisions, and family offi ce services, which are provided by Cerity Partners’ 900+ colleagues in collaboration across the nation.

Q What key strategic shifts have you observed in both the wealth management and accounting businesses over the past decade, and how has Cerity Partners responded to these? Where do you see intersectionality or confluence between the two?

A Clients are looking for a “one-stop shop” for all things financi al in their personal lives, and they are going to either their wealth advis ers or tax advisers for advice. Cerity Partners is a leader in the interse ction of both areas. Our professionals can address all clients’ unique and often complex needs, for both their personal and professional lives. In addit ion, clients are increasingly expecting their advisers to employ cutting-edge te chnology, from artificial intelligence tools and machine learning to the u se of data and analytics. Cerity Partners is investing in all of these areas.

Q What are some unique value propositions that the firm offers to potential accounting firms?

A Cerity Partners was founded with a vision to become a first-of-i ts-kind global wealth management professional services firm, and we are well on track to achieve this, as we have 900+ colleagues, 25,000+ c lients, $75 billion+ in assets under advisement, and a national brand. Our firm is structured as a partnership, similar to the Big Four accounting firms, where each partner has a say in the direction of the firm. Tax-focused colleagues who join us often appreciate the ability to offload “run-the-bus iness” responsibilities; accelerated revenue; enhanced personal wealth creation; and centralized training, development, and recruiting.

Q What skills or knowledge do you think are most important for tax advisers now and into the future? What unique programs does Cer ity Partners offer to stay ahead of the curve?

A We understand the importance of utilizing technology for deliver ing tax services more effectively and efficiently while continuing to focus on the clien t experience and building personal relationships. Cerity Partners has a number of programs to assist our tax colleagues, including (1) a centr alized tax team who can provide additional resources to colleagues across the c ountry; (2) experts throughout the firm who can assist with complex issues a cross the financial spectrum; and (3) the launch of Cerity Partners Univer sity in 2024 to train new and existing colleagues out of a dedicated trainin g center in Louisville, Ky., which we are incredibly excited about.

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Founded in 2009, Cerity Partners is a nationally recognized financial and wealth advisory firm serving high-net-worth individuals and their families and nonprofit organizations and foundations throughout the U.S. As a fiduciary, the firm’s in-house experts are passionate about and committed to providing objective financial advice and oversight. Cerity Partners advises on assets totaling approximately $75 billion.