Key Takeaways:
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Table of Contents:
- How the Harness Marketplace Works
- Types of Clients in the Harness Marketplace
- 3 Tips for Standing Out on the Harness Marketplace
- How to Create a Profile on the Harness Marketplace
- How Potential Clients See Your Tax Firm in the Marketplace
How the Harness Marketplace Works
The Harness Marketplace is a network that allows your tax firm to be discovered by and paired with high-value tax clients whose unique needs align with your interests and areas of expertise. We built the Marketplace to help your tax practice source curated client leads, leading to increased revenue and a healthy book of business.
Steps to Joining the Harness Marketplace
For your firm to be listed on the Harness Marketplace, you’ll first join the Harness platform and then build out your Marketplace profile:
- Join the Harness Platform: New tax firms migrate their tax practice management to the Harness platform. (Interested in learning more? Schedule an intro.)
- Create a Marketplace Profile: After a tax practice joins Harness, they complete a Marketplace Qualification form to have a profile listed in the Marketplace.
- Begin Scheduling Marketplace Client Intros: Once a tax firm’s profile is live, they can begin getting paired with prospective clients who match the firm’s expertise and experience. Our Harness Concierge team helps facilitate these client introductions.
In the remainder of this article, we’ll share the types of tax clients in the Harness Marketplace and tips for building a Marketplace profile that stands out.
Types of Clients in the Harness Marketplace
On the Harness Marketplace, you’ll get matched more often if your firm meets the needs of the typical Harness tax client. Harness largely attracts employees, founders, and investors in technology, healthcare, management consulting, financial services, and other high-earning industries who need help managing equity compensation and other complex tax needs.
Keep this in mind as you create your Marketplace profile—the more relevant your profile is to specific prospects, the more likely your firm is to get client introductions. You are better off clearly positioning your firm in the Marketplace to serve a specific type of client than trying to be everything to everyone.
The Harness Marketplace by the Numbers
Harness attracts high-value clients with comprehensive planning needs, primarily from industries like tech, healthcare, consulting, and finance, along with business owners from various industries.
As of October 9, 2024
If your firm provides comprehensive tax planning services, you’ll be better positioned to gain new clients in the Harness Marketplace compared to firms that mainly focus on tax preparation. Clients in the Harness Marketplace are looking for help navigating complex tax needs such as employee equity compensation, planning around starting a company, and personal events, including having kids or buying a house. Many clients are in the wealth accumulation phase of life and need help setting a foundation to successfully manage their finances for years to come.
As of October 9, 2024
3 Tips for Standing Out on the Harness Marketplace
As you work with Harness to create your Marketplace profile, consider the following three tips to set your firm up for success in attracting new clients.
- Be specific to attract your ideal tax client: When it comes to what sets your firm apart, be very clear. If you have deep expertise in topics such as equity compensation, working with business owners, or crypto tax planning, be sure to lean into that in your profile.
- Price strategically to attract the right clients: Your pricing should be competitive but there is not a need to compete on price. At Harness, we want to match advisors and clients based on value and we recommend tax advisors aim to secure ongoing retainer business when it makes sense. In fact, we have a price floor at $1,500 per client and have options to offer annual retainers to support advisors looking to provide high-value holistic planning services. (Bonus: See Why (and How) to Change from Hourly Fees to a Retainer-Based Model at Your Tax Practice)
- Curate your tax firm’s image: From your advisor headshots to your website, make sure your firm is presented professionally and clearly to potential clients. If you’ve worked with clients from large companies or leading startups, highlight those relationships in your profile to build trust with potential clients. Additionally, be sure to have professional headshots, detailed LinkedIn profiles, an easy-to-navigate website, and online client reviews to showcase.
- Include logos of your clients’ employers: Showcasing the companies where your clients work is a great way to establish trust with potential clients. If you serve clients from some of the world’s most well-known brands, highlighting that can be a quick way to help someone understand that you can meet their complex tax needs. Make sure to seek approval from both the client and the employer before featuring their logo.
- Provide personal and professional tax planning: Many clients are looking for comprehensive tax planning. Whether knowing what to do with their employee stock options, navigating starting a business, or understanding the tax ramifications of getting married or having children, clients are looking for one advisor to guide them through decisions.
How to Create a Profile on the Harness Marketplace
After you join the Harness platform, you can create a profile on the Marketplace using the Firm Evaluation Form. Your Client Success Manager can help answer any questions. Once you submit the Firm Evaluation Form and are approved, you can start receiving new client leads on the Marketplace.
The 3 Steps to Creating a Harness Marketplace Profile
Step 1: Complete the Firm Evaluation Form
The Marketplace Qualification form is the basis for your Marketplace profile and includes any relevant expertise or services you offer. The form will collect detailed information about your tax practice, including:
- How is your firm and team structured? This will include what policies and procedures you have in place. We’ll also request that you provide a financial firm or law firm contact as a reference, along with looking for any past violations, running background checks, and reviewing infosec policies.
- What clients do you serve, and what sets you apart? You can share if you specialize in a specific industry or demographic, along with how your firm serves their needs.
- What services does your firm provide? Including what services your firm offers, your fees, and if you have a minimum fee.
- What technology does your firm currently use? Including what technology experiences your firm has offered to clients in the past.
- Who are the members of your team? Provide any biographical information and team photos that can help your marketplace profile stand out.
Step 2: Harness Reviews Your Profile
Once you submit the Marketplace Qualification form, the Harness team will review and assess your firm’s profile. We’ll reach out to you if there are any additional details needed.
Step 3: Final Review of Your Marketplace Profile
Once your tax practice’s Marketplace profile has been created, you’ll meet with your Client Success Manager to approve the page before we make it live.
Your Client Success Manager will also walk you through how to get the most out of your profile and how to attract the best clients for your firm, and will explain the process to schedule introduction meetings once you start to connect with new clients.
How Potential Clients See Your Tax Firm in the Marketplace
When potential tax clients are reviewing advisors in the Harness Marketplace, they see a detailed profile of your firm. We take the information you provide on the Marketplace Qualification form to position your firm for success. Below, you can see each section of a tax firm’s profile from the perspective of what potential clients will see.
Section 1: Expertise
The Expertise section provides a high-level overview of why a tax firm is a good fit for a client, along with a link to the firm’s website.
Section 2: Differentiators
The Differentiators section shows prospects what sets your firm apart from other firms, including how you operate and the logos of the companies that your clients work at.
Section 3: Locations
The Locations section shows where your firm is located, although you can serve clients remotely, along with additional details on the number of advisors and operational staff at your firm.
Section 4: Advisors
The Advisors section shows your firm’s advisors’ headshots, LinkedIn profiles, certifications, and years of experience.
Section 5: Fees
The Fees section lists the estimated fees for the various services your firm offers.
Section 6: Harness Vetting
The Harness Vetting section outlines to prospective clients how your firm was vetted by the Harness team in a variety of areas, including security & data privacy, client service & responsiveness, industry connections, and tax experience.
Ready to see how your tax firm can leverage Harness?
Schedule an intro with Harness today to see how our modern tax practice management software, in-house concierge team, curated high-value client introductions, along with our professional community can support your tax practice.
Tax related products and services provided through Harness Tax LLC. Harness Tax LLC is affiliated with Harness Wealth Advisers LLC, collectively referred to as “Harness”. Harness Wealth Advisers LLC is a paid promoter, internet registered investment adviser. Registration does not imply a certain level of skill or training. This article should not be considered tax or legal advice and is provided for informational purposes only. Please consult a tax and/or legal professional for advice specific to your individual circumstances.
This article is a product of Harness Tax LLC.
