Provision Wealth

27 Replies

Hello everyone, first off I would like to thank everyone who posts here, I really appreciate it! I am thinking about working with ProVision Wealth out of Tempe Az, and was wondering if anyone could provide a review or information on this company? thanks!

it seems really weird that such an established company has no reviews anywhere. Not even their yelp page. I really want to use them or someone like them but I'm reluctant to spend so much money without knowing that someone else has been successful with them. Does anyone know of a good alternative? 

This is cross-posted on another discussion board here on BP.      

We were really excited to work with ProVision but after reading the fine print and asking more questions, we were really turned off. The 2-3 month planning session will cost you $9,750 where they develop a strategy for you. My concern with this is that it's immediately out of date as soon as any tax laws get passed, business changes, etc. And if you need any updates, they will charge you for that. They also of course charge for the taxes. When I started to clarify all of this and asked for a schedule of fees including their billable hourly rate, how much our 2016 taxes would cost, and how much 2017 quarterly taxes would cost... I was told "we're probably not going to be a good fit for you at this time." That seemed very shady to me that you can't disclose your fees and how much this is actually going to cost me after the enormous charge of a strategic plan that is stagnant. If anyone knows of CPAs who do similar work to ProVision and are transparent, I would love to connect.

I have used them and have not been pleased with the result. They convinced me that the savings i would have on my 2015 return would almost pay for the three month strategy session which like post above stated is pricy. Ok, i accepted. The strategy session was educational and i did get something out of it, however when it came to the tax filing, i still had not heard from them on a draft to review my corporate return and my LLC return 3 days prior to my returns being due. When i reached out to them, they told me they would have a draft ready the day the filing was due for the corporate return but not be able to have the LLC return done in time. They said it was only about a $500 penalty and i should pay. If i had gotten my information over to them at the last hour i would say that would be a reasonable ask. Since they had my information for both returns about 45 days prior, i was not happy. Also, since i wasn't sure they could give me the tax savings they led me to believe, i had the accountant i have been using for 10 plus years also present a return. My existing accountant saved me several thousand more in taxes. They then proceeded to bill me for both returns claiming that there was time spent on both of them. BTW, their bill for partial work on the one return was more than what i paid my existing accountant for both returns.

Disclosure: I am a team member at ProVision

Originally posted by @Karl Scarlett :

it seems really weird that such an established company has no reviews anywhere. Not even their yelp page. I really want to use them or someone like them but I'm reluctant to spend so much money without knowing that someone else has been successful with them. Does anyone know of a good alternative? 

Hi Karl,

Thank you for your post. I understand your concern and we are working on getting more online reviews from our clients. That being said, I can share with you a few videos just send me a message.

Our CEO Tom Wheelwright speaks all around the world and is constantly asked about other firms that offer services and strategies like ProVision. We’ve searched high and low but as far as we know ProVision is one of a kind. Even the “Big 4” accounting firms, who offer a large menu of services, fall short because they focus only on large corporate accounts.

Please let us know if you do find a comparable alternative. We would love to meet another firm to whom we could send referrals.

Thank you again for your feedback and I do hope you decide to take advantage of a ProVision strategy so that we might get your testimonial down the line. 

Disclosure: I am a team member at ProVision

Originally posted by @Steve Fountaine :

I have used them and have not been pleased with the result. They convinced me that the savings i would have on my 2015 return would almost pay for the three month strategy session which like post above stated is pricy. Ok, i accepted. The strategy session was educational and i did get something out of it, however when it came to the tax filing, i still had not heard from them on a draft to review my corporate return and my LLC return 3 days prior to my returns being due. When i reached out to them, they told me they would have a draft ready the day the filing was due for the corporate return but not be able to have the LLC return done in time. They said it was only about a $500 penalty and i should pay. If i had gotten my information over to them at the last hour i would say that would be a reasonable ask. Since they had my information for both returns about 45 days prior, i was not happy. Also, since i wasn't sure they could give me the tax savings they led me to believe, i had the accountant i have been using for 10 plus years also present a return. My existing accountant saved me several thousand more in taxes. They then proceeded to bill me for both returns claiming that there was time spent on both of them. BTW, their bill for partial work on the one return was more than what i paid my existing accountant for both returns.

Hi Steve,

Thank you for your feedback. I am happy to hear that you did find value in your strategy sessions but I am disappointed to hear that you had problems during tax preparation. In an effort to further enhance our client experience we are looking into this matter and have tried to reach out to you via email and phone. We take pride in the satisfaction of our clients and hope to hear back from you.

We will also be looking into the results of your strategy as our clients do typically see a great deal of savings when their complete strategy has been implemented. Moreover, because we don’t focus on deferring taxes until later in life like average CPA’s, the benefits from our strategies continue in the long term.

Whilst an apology will regrettably not alter the outcome of your experience, I do extend it with all sincerity. It is only through feedback like yours that we are able to maintain and indeed, where necessary, improve upon the service that we provide to our valued clients. 

You get what you pay for.  They are pricey, but they stay on top of things.  If you subscribe to the Rich Dad philosophy, as do I, then they are the firm you want.  

Tom Wheelwright, their CEO, literally wrote the book on it.  My advisors, Deni and Jason, are terrific.  They keep me in line, since they know just how much I love doing books and taxes.

After going though several calls with the ProVision representative (Brad) last year, I felt the price was unrealistic just to develop the tax strategy (I believe ~$10,000). Then they charge an additional several thousand dollars do the tax preparation. I wasn't confident that they could save us that amount on our taxes. We used a local CPA last year, but were still searching for an accountant who specializes in real estate. Recently, I watched BP podcast 196 with Brandon Hall, CPA. We decided to retain his services and had our first tax strategy meeting today. He is very knowledgeable and spent over an hour answering all of our questions today, so I am optimistic this will be a good fit. 

My husband and I will going through the wealth and tax strategy with provision. We are excited and believe it will be a worthy investment. I will keep you posted and submit a review to help others that maybe wondering about this company.

DO NOT WASTE YOUR MONEY. 

The Tax Strategy I received from Provision was a complete waste of $4,000.

Before signing up for the Tax Strategy service I discussed my business with their Client Relation Manager Brad Doran. I explained my current tax strategy and he assured me there are better strategies available for my business, so I signed up with them to learn this “new” strategy. 

Fast Forward to the end of the process and Provision tells me the exact same strategy I was already using. Complete waste of money. I attempted to resolve the matter with Provision several times and they agreed to refund a portion of the cost. After constant lying and dragging of their feet, they said they had “closed it out” and never refunded any of the cost.

If you are interested in getting a tax strategy, just contact a local CPA that is familiar with your type of business and they will be able to advise you for much cheaper than $4,000.  

Disclosure: I work at ProVision

I am replying to 

Chad Rochester Engineer from Spring, Texas

This is Brad Doran, I am the Client Relations Manager mentioned here. Chad I apologize for your experience, I take pride in our transparency and I try to communicate as effectively as I can in conversations our approach to tax and wealth planning and whether or not a person is a good fit for our services, and vice versa. I'm am deeply sorry if you felt mislead in our initial conversation, it certainly would not have been my intention and it would do no favors to you, myself, or my team members here at ProVision. I respect greatly the time and effort that both you and the team at ProVision have put forth in working together, and our offer of sitting down to resolve this issue amicably still stands and we are happy to do that at any time. As of our last communication you were not open to this option but if you should change your mind you have my direct line call me at any time we can make this happen. 

Wondering if anyone has any updated info (especially positive) reviews about Provision Wealth? Just had a consult and was quoted $19,750 for the wealth strategy, and am seeing lower numbers on this thread for the same. 

In theory I think the offered services could be very helpful and I am interested, but like some on this thread said, I do want to see more concrete info before paying that much money. 

Originally posted by @Priscilla Okyere :

My husband and I will going through the wealth and tax strategy with provision. We are excited and believe it will be a worthy investment. I will keep you posted and submit a review to help others that maybe wondering about this company.

@Priscilla Okyere  How did the strategy go?  Was it worth the cost?  And what was the cost if you don't mind sharing with the group?

With so many BAD experiences listed here, why are you all reaching for positive reviews in order to hand so much money over to this company?  I have never seen so many people trying to drink the kool-aid, even after being told it's poisoned.  Ug.

I have been coordinating with Kirt, one of the Client Relations Manager at ProVision. Their marketing is exactly what I am looking for, they appear to offer a high level of expertise to small businesses and intelligent tax strategies often not understood by other tax advisors which could result in significant tax savings. They quoted ~$20,000 for the initial strategy session + annual tax filing fees. This can be made up through the tax saving.

At this point though, I feel very uneasy working with them having gone through their sales process. The process has been mixed with old-fashioned sales gimmicks and a lack of transparency:

- I requested 2 or 3 references. After over 2 weeks and multiple follow ups on my end they forwarded a few client testimonials and acted like I requested testimonials. They have not been able to provide references yet. A few references should be prepared to send within a day, upon request.

- They will not connect you with the team you will work with prior to signing up. There is no way to verify the credentials and expertise of the specific people who will be advising you.

- Communication has been slow. Emails are not responded to and when they are the responses are delayed. After becoming frustrated with the process I called the other day and was told I would receive a follow up call and did not. This is concerning regarding any critical ongoing client relationship.

- In Kirts initial follow up email after our first call, he indicated that I approved to move ahead and he had received approval from his leadership team to accept me as a client. I never communicated to him I wanted move ahead with the relationship. I did say he could request approval if that's what they needed to do internally. Both the approval process and the follow up email seem like silly sales tactics. 

- I received video testimonials including a personal note "These videos have not been released to the public yet. We are asking for your discretion to keep them private and not share them via email, social media etc."  The videos are already on 2 of their web pages and a couple years old. Is this another bad sales tactic? 

Curious to hear positive reviews from existing clients or references to other firms with a similar tax mindset and similar services (our business is in the tech industry)...

I am replying to Brad L Doran (Provision) comments.

I would like to clarify 2 items on your response.

1. In regards to your comment "sorry if you felt mislead". I don't feel mislead, I was lied to. I know this b/c I voice recorded our initial consultation in which you stated "there are other great solutions besides your current strategy".

2. You claim you would like to resolve the issue, however I have tried 3 separate times already and the last email correspondence I received from your office on Sept 19 was that your office has "closed it out".

Originally posted by @Matt Sanford :
Originally posted by @Priscilla Okyere:

My husband and I will going through the wealth and tax strategy with provision. We are excited and believe it will be a worthy investment. I will keep you posted and submit a review to help others that maybe wondering about this company.

@Priscilla Okyere  How did the strategy go?  Was it worth the cost?  And what was the cost if you don't mind sharing with the group?

@Matt Sanford sorry for the late response I am just now seeing this. I honestly want to finish the full session before giving my review. I have done 4 sessions so far and we have not got to the tax portion yet, which is what we are mostly interested in. I will share my review once we are through it all. Feel free to message me directly if you have a specific question as others have done.

I have direct personal experience with Tom Wheelright and Provision. I qualified to work with Tom personally, and, we started our tax strategy sessions in Q4 2017 and after 3 sessions I was able to implement actions that resulted in over $150,000 of tax savings. This savings will be recurring for many many years and is way more than what I paid. Also we are still having our strategy sessions and uncovering more savings opportunities. In my experience, Tom and his company are on top of their game, care about their clients and know the tax laws inside and out. 

The ProVision team is professional, has great systems in place, continually educates themselves, continually educates their clients, and knows what they are talking about when it comes to taxes and building wealth. I confidently and highly recommend the ProVision team to my friends.