Hi Everyone, I wanted to see if anyone has used WealthAbility by Tom Wheelwright. The amount they charge to analyze your information and give you a plan is pretty steep, so I wanted to see if anyone has used them and how happy you are with their services. Thanks in advance for any input.
Hey @Shan Vincent ! I currently use Wealthability, signed up not too long ago.
They course you get access to on Wealth and Tax strategies is GREAT! I have learned a ton. They highly encourage you to become educated in the topics yourself, rather than strictly relying on the CPA, which I like a lot.
Youll get referred to a CPA that they themselves have trained, and the firm we got referred to is great.
I'll be honest though, it took me about a year to pull the trigger on this due to the cost, but I am kicking myself for waiting that long, as my first years tax savings will be much more than the price I paid. That doesnt even factor in the ongoing savings and various other factors.
You are bound to get a bunch of people commenting on here saying you can get the info cheaper elsewhere, yadda yadda yadda, but I highly recommend them. I do agree thought that price is a bit steep.
I know @Michael Blank also has used them
Updated about 2 months ago
They referred me out to Smeed CPA in california. And to be quite honest, what they provided wasnt worth the $5k fee that I paid. Then on top of that, last tax season they took MONTHS to complete my returns, and trust me, my tax prep work was pretty simplistic. They would take a week to reply to me, and I had to be the one to reach out to them to see what the hell was going on. On top of that, what they charged for my tax prep work was absurd for how little there was to do. I have now switched and found another CPA on my own. I was happy for awhile, but after how last tax season went, I reflected on it and am disappointed.
Thank you for your response. What role has WealthAbility played in your process. Was it a referral to a CPA and that's it or was there something else? Thanks for your help!
I'm in the same situation. I pay a significant income tax each year. The cost to sign up may be steep but I'm looking at it from a ROI. If I can save 10-15% It will be a 100% ROI in the first year. I'll keep folks posted about my experience.
Thus far I've had two 30 min getting to know you conversations with the advisor. Cost up front was made clear about 10K. Some of their suggestions were not a surprise. Other's I had not considered but I can see value moving forward.
Planning on having one more conversation this time with my wife on the call as well and that point I would need to pull the trigger on paying for the service.
Thereafter the plan would be to get teamed up with a CPA and Advisor team locally to build out the frame work in which I can maximize deductions.
I am also on the fence about using their services. I had a consultation with them last summer and feel like I need more professional help but just can't pull the trigger for the promise of what could be without concrete guarantees it will be worth it...
I've also done the initial consultation and considering signing up, so I'm in here to follow this thread and get others' opinions!
I had my call on Friday, just after finishing Tom’s Tax Free Wealth book a week ago. I’m supposed to speak with him again on Friday, which is when he wants me to make a decision. It seems so promising to take this leap as it feels like it’ll save the $5k cost to sign up in the first year, but without this being my expertise I literally have no idea. I emailed them asking if they even had a ballpark of what I may expect on my return this year, given that they have my 2018 tax return and it’ll be just about the same this year. I just want to know if it’s going to be like $200 savings or will it be over the $5k. There are many extra expenses I’m trying to take into account too, like $1k for them to do my taxes, which is what they said during my phone call.
Really hoping for some clarity this week and hoping that this thread helps us all!
Has anyone in the above thread gone forward with Wealthability and if so what were the results? I had the initial consult and couldn't pull the trigger on the $15k initial cost - which seems higher than the costs others mentioned above. Thanks!
We had our initial consultation with ProVision (Wealthability) just this week. We were actually supposed to do a third follow up call today, but we cancelled it. After reading the reviews on ProVision on this site (that is the company Wealthability uses to set up your financial freedom plan), we backed out. I was very impressed with Tom's book and excited to be a part of his organization, but the reviews stopped us from proceeding as well as the 9750.00 price tag. If anyone has had a good experience with them, I would love to know. We are currently looking into other companies that can provide the same service but that has been challenging.
I have only seen a couple reviews on BP by clients of Wealthability or ProVision, and they were all favorable. Almost all the comments you see on here are not by clients, but by folks who did the initial consultation and are hesitant to make the plunge.
If there are any negative reviews by clients, could you paste a link?