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wealthtech on deck podcast - Scott Smith

Why Tax Optimization Is the New Alpha in Wealth Management with Scott Smith

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Scott Smith is the Senior Director of Advice Relationships at Cerulli Associates, where he leverages deep research and analysis to define challenges and deliver solutions across the wealth management landscape. Known for his clear-eyed insights, Scott studies market trends, advisor behavior, and platform innovation to help firms navigate an increasingly complex industry.

This week, Jack talks with Scott about his latest research on U.S. managed accounts and why tax optimization has emerged as the top priority for firms, surpassing even portfolio construction. They dive into strategies like tax-loss harvesting, asset location, and tax-smart withdrawals, exploring both the progress being made and the challenges that remain. From compliance and legacy systems to advisor adoption and third-party solutions, Scott highlights what firms must do to make tax-smart investing accessible, effective, and essential for client success.

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Services provided by SEI LifeYield, LLC, an unregulated subsidiary of SEI Investments Company (SEI). Neither SEI nor its affiliates provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.