Lasting wealth is built by efficiently managing your money. But if you’re paying thousands more in taxes than you need to, your money is not being efficiently managed. At Laurel Wealth Planning (LWP), tax planning is a core pillar, not an afterthought. LWP’s tax planning process includes working closely with a client’s CPA.
Many Laurel Wealth Planning clients have highly complicated tax situations, so to better serve their needs, CFP® professional Mallory Kretman is preparing to take the Tax Planning Certified Professional® (TPCP®) exam. Let’s discuss what her journey means for you.
What Is the TPCP®?
The TPCP® designation is a credential offered by The American College of Financial Services. It’s designed for financial advisors who want to deepen their knowledge of tax planning and create custom-tailored tax strategies for clients across their lifetimes.
A few of the credential’s highlights include:
- TPCP® professionals understand how to navigate complex tax situations.
- They can create tax-efficient strategies for estate planning, retirement planning, and investment management.
- They’re familiar with the tax implications of unique situations like divorce and planning for those with special needs.
- They understand the potential tax consequences of various investment vehicles.
- They have mastered strategies for minimizing state and federal taxes for businesses and individuals with high net worth.
The TPCP® credential covers three courses, and each course involves classwork and a final exam. It’s designed to build on a financial advisor’s existing knowledge and expand the services they can offer clients in the future.
Why Mallory Is Pursuing the TPCP® Designation
The TPCP® designation is a relatively new credential, but it has the potential to add value across Laurel Wealth Planning’s client base. It is different from many tax planning credentials because it covers tax-informed planning over a client’s lifetime. Because LWP works with clients at various points in their lives, Mallory hopes her knowledge can help clients limit their tax liabilities to preserve and grow their wealth over time.
Mallory shares:
I was drawn to the TPCP® because I’m a big believer in continual learning and always looking for ways to deepen how I serve clients. While the CFP® builds a great foundation, I liked that this program goes much deeper into tax planning, especially the kind of proactive, real-world strategies that can really move the needle over time.
It was also exciting to see the program developed by the American College alongside Jeff Levine, who I really respect in the industry. That gave me a lot of confidence in the quality of the curriculum. For me, this is really about continuing to provide more thoughtful, forward-looking advice, especially around tax decisions that are such a key part of long-term planning.
That long-term mindset reflects the broader philosophy at Laurel Wealth Planning: tax planning should evolve alongside every stage of life.
LWP’s Long Tax Planning History
From the very beginning, tax planning has been an indispensable part of what Laurel Wealth Planning does. Founder Laura Kuntz is a Certified Public Accountant (CPA), and she also holds a Master of Business Taxation (MBT).
An MBT is a highly specialized degree primarily focusing on tax law, tax planning, and strategy. Because her degree is relatively uncommon in the financial advisory field, Laurel has been able to offer LWP clients enhanced tax guidance tailored to their individual situations.
Now Mallory aims to strengthen LWP’s tax-planning tradition by earning a TPCP® designation.
Balancing Work, Leadership, and Family
Mallory explains:
Balancing career growth, leadership, continuing education, and family life is definitely a work in progress. It’s fairly typical for my role at LWP to extend into evenings and weekends, so layering in coursework required being very intentional with my time—guarding against distractions, putting some social plans on pause, and setting clear expectations at home. I had to gently explain to my kids that Mom needed dedicated study blocks, especially on weekends.
This experience has also reinforced how important a strong support system is. My husband and kids have been incredibly encouraging throughout the process. When I passed the first exam, they each gave me a bouquet of flowers (pictured below), which made it feel like a shared win. It’s not always perfectly balanced, but I try to be intentional about continuing to grow in my career while staying present at home, and giving both the attention they deserve.
Looking for Tax Planning Advice?
This is just the start of Mallory’s journey toward the TPCP® credential, and she hopes to soon be able to apply what she’s learned when working with clients.
Tax planning can be disorienting, but skilled guidance from our financial professionals may help make it less stressful and possibly even save you money in the process. Laurel Wealth Planning LLC takes a tax-first approach, but the firm also offers investment management and other financial planning services. For example, we can assist you with divorce planning and retirement planning as well.
To schedule a complimentary meeting, get in touch online, email laurel.wealthplanning@laurelwealthplanning.com or call (952) 854-6250. Find out if the Laurel Wealth Planning team is the right financial advisor for you based on your wants and needs.
More About Mallory
Mallory Kretman is Wealth Manager and Shareholder at Laurel Wealth Planning, a full-service, fee-only firm based in Minneapolis, Minnesota. In her role, Mallory leads LWP’s financial strategies and keeps the firm updated on tax changes and financial, tax, and estate planning strategies, sharing her insights and operationalizing strong advice for clients. She is skilled in understanding clients’ needs and providing compassionate, clear financial advice, particularly for those in life transitions or new to financial planning. She says, “I was drawn to Laurel Wealth Planning because of our emphasis on the importance of each client. I love being part of an environment that truly values the relationships we are building and a commitment to results.”
Mallory graduated with high honors from the University of Wisconsin-La Crosse, where she studied liberal arts and was a member of three honor societies. Joining Laurel Wealth Planning in 2011, her dedication and initiative led her to become a shareholder in 2019. She also obtained the CERTIFIED FINANCIAL PLANNER® certification and holds full licenses. Mallory’s wisdom comes from more than formal study and professional experience. Raised by a single father and having cared for her family during challenging times, she gained strength, perspective, and compassion. She and her husband, Hank, have two children, Henry and Ellie. A wine enthusiast, she has toured vineyards in France’s Loire Valley and Champagne region. She also enjoys the “little things” in life, like a strong cup of coffee and spending quiet nights at home with her family and their yellow lab, Penny. To learn more about Mallory, connect with her on LinkedIn.
Frequently Asked Questions
Why is tax planning important?
Tax planning is the process of organizing your income, investments, and financial decisions in a way that legally minimizes what you owe in taxes. It’s important because without a proactive strategy, you may end up paying more than necessary year after year. Effective tax planning looks beyond filing a return; it considers timing (when you recognize income), account types (tax-deferred vs. tax-free), and long-term goals like retirement or legacy planning. At Laurel Wealth Planning, tax planning is integrated into financial decisions so clients can keep more of what they earn and use it more intentionally.
How can a financial advisor help with tax planning?
A financial advisor can help you identify opportunities to reduce taxes across your entire financial life, not only during tax season. This may include strategies like Roth conversions, tax-efficient withdrawals in retirement, capital gains management, charitable giving strategies, and coordinating investments with your tax bracket. Advisors who focus on tax planning, like Laurel Wealth Planning, take a forward-looking approach, helping you make decisions today that may lower your lifetime tax bill rather than reacting after the fact. LWP also works closely with your CPA, which brings added value to your tax management.
When should you start tax planning?
The short answer: as early as possible. Tax planning is most effective when it’s done year-round and across different life stages, not just in April. Major life events like a new job, selling a business, retirement, or receiving an inheritance all create opportunities (and risks) from a tax perspective. Starting early allows you to take advantage of compounding tax savings over time and avoid last-minute decisions that can limit your options.
The foregoing content was prepared by Indigo Marketing Agency with verbiage, opinions and/or financial commentary input provided by Laurel Wealth Planning.
The foregoing content reflects the opinions of Laurel Wealth Planning LLC and is subject to change at any time without notice. Content provided herein has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets, or developments mentioned. The content is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions, or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results.
Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.
As a precautionary measure, we cannot rely on e-mail requests to authorize, direct, or affect the purchase or sale of any security, wire transfer, or to affect any other transactions. Such requests, orders, or other instructions sent via email should be confirmed verbally or by written instructions faxed to 952-854-6250 prior to their anticipated execution. We are unable to ensure that emails sent to you from us, or sent from you to us, will be received. Please contact us at 952-854-6250 if there is any change in your financial situation, needs, goals, or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions. Additionally, we recommend that you compare any account reports from Laurel Wealth Planning LLC with the account statements from your custodian. Please notify us if you do not receive statements from your custodian on at least a quarterly basis. Our current disclosure brochures, Form ADV Part 2 and Form ADV Part 3, are available upon request and on our website, www.laurelwealthplanning.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis.
Laurel Wealth Planning LLC (LWP) is an Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply any level of skill or training. LWP is a wealth management firm and does not practice law or accountancy. The information and material contained in this communication is confidential and intended for the recipient addressee named. If you are not the intended recipient, please delete the message and notify the sender immediately.
