Brad Blanks, CPA

bradblanksBrad joined Team Financial Strategies in October of 2013 as the firm’s first Certified Public Accountant. Before joining the team, he worked for 3 ½ years in Dallas, TX as a tax senior for Weaver, LLP, the largest independent accounting firm in the Southwest. Brad was raised in Haskell, TX and graduated Summa Cum Laude from Abilene Christian University in 2008 with a Bachelor of Business Administration degree and in 2009 with a Master of Accountancy degree. He attained the designation of Certified Public Accountant in 2010, holds a Series 66 license, and is a registered Investment Advisor Representative in Texas. Brad, with his wife Callie and daughter Ruby live in Abilene, TX and are active members of Hope Church of Christ. When Callie isn’t staying home with Ruby, she works part-time under Red Apple Realty as a residential and commercial realtor. As a family, they enjoy renovating houses, camping, and mountain biking.

Why have you chosen a career in financial planning?

During my time at Weaver, I realized that accountants and financial planners rarely, if ever, communicate regarding the tax implications of financial planning and investment decisions. Year after year, I witnessed tax burdens that could have been avoided or deferred with simple communication between the two professions. In joining Team Financial Strategies, I wanted to be part of a team that enhanced our clients’ experience through the incorporation of thorough tax analysis and communication.

What types of clients do you serve?

My role has expanded from a singular focus on individual tax preparation and planning to include serving the broader planning needs of small businesses. Similar to Team Financial Strategies goal of providing comprehensive planning to individuals, I strive to provide all-inclusive planning to independent contractors and small businesses through financial review and analysis, strategic tax planning and preparation, and retirement plan implementation.

Give an example of a way you have helped a client.

Quality, service, and knowledge aren’t always equal across the different types of providers of tax preparation services. Because of this, I intentionally review prior year tax returns in search of errors. One particular client received a Schedule K-1 for two different years reporting his distributive share of partnership income. These Schedule K-1s reported that his distributive share of income was subject to self-employment tax. However, because I work closely alongside this individual’s financial planner here at Team Financial Strategies, I knew these Schedule K-1s for this partnership investment were prepared incorrectly and this resulted in a significant tax savings.

Meet with an Advisor

We have two styles of management based on the needs and contract with the clients.

Wealth Management Portfolios: For our clients signed up for our “Wealth Management” service, we tailor their portfolio to their needs using investments from various asset classes including options for hedging and enhancing the portfolio. Our investment team considers Macro risks and the client’s advisors consider the individual risk reward profile of the client to build out and manage the individual portfolio.

Wealth Builder Portfolios: For our clients signed up for our “Wealth Builder” service our investment team focuses on building portfolios for long term growth while still taking into consideration the clients risk/reward profile. For this service our investment team manages models by selecting mutual funds and percentages of a portfolio to be invested in each fund for a risk reward profile. Then advisors can assign the investments to each client and the portfolio will remain invested and rebalanced based on our team’s parameters on a regular basis.

Active vs Passive: Our philosophy leans toward active management but we feel that this should not be a choice of style that an investor must pick. We believe there are definitely times and opportunities where active managers provide a lot of value to a portfolio in various areas of the market and there are also times where passively investing in an index is difficult to beat. With that said, even deciding the allocation of passive investments is an active management decision. It is also an active decision to keep some money in cash. Investing involves decision making. Our goal is to help the client make the best decision possible for their portfolio at a given time based on the information we have for them.

Our team of professionals spans many years of experience in a multitude of areas that are covered in wealth management. For our wealth management clients, we want to help you look at the areas of your financial life where we can make the most difference. Therefore, we take a comprehensive approach looking into various areas of your finances and making recommendations in areas such as tax planning, risk management, generational planning, and retirement planning strategies.

Need help keeping up with your business finances? Would you like a team to work with that can help you make informed and guided decisions? Our business planning team can help you make sure you are keeping up with the essentials while planning for the future. There are specific advantages for business owner’s finances with good decision making.

Have you been appointed as the Executor/Executrix of an estate? Our team has assisted clients with the settlement of an estate on many occasions. This area is one that can have many hurdles and pitfalls. Our experience in assisting clients can be used to your benefit. If you are the executor of an estate, we can work with you through this process to make sure it is done in a way that can save you time, money and stress. If you would like to discuss these services with our team, click here to make an appointment and put “Estate Assistance” in the “Additional background information” field.

Since opening Team Financial Strategies in April of 2005 we have developed sound investment management strategies that we manage within client portfolios and for institutional investors. For a brief description of each strategy click here. To inquire further, please contact our investment team at 325-480-1587.