Financial Gravity Companies Inc (OTCMKTS:FGCO) Stock In Focus After Latest Updates

Shares of Financial Gravity Companies Inc (OTCMKTS:FGCO) have nee trading within a narrow range over the past few sessions.

Market Reaction

On Tuesday, FGCO stock ended flat at $0.0961 with 70 shares, compared to its average volume of 590 shares. The stock moved within a range of $0.0961 – 0.0961 after opening trade at $0.0961.

Financial Gravity Rolls Out Enhanced Planning Software

Family of financial services companies, Financial Gravity Companies Inc (OTCMKTS:FGCO) on February 22, 2022 announced that the Tax Master Network subsidiary has rolled out an “import tax return” facility for making Tax Ninja planning software easier to use.

Financial Gravity Companies has presence in wealth management, brokerage, estate planning, risk management, family office services, business and personal tax planning.

Tax-planning tools ensure pages of dense spreadsheets that do not ask clients on how to pay less. TMN’s Tax Ninja software was primary program on producing plain-English reports demonstrating legal concepts as well as strategies to produce savings.

The enhancements enables users OCR import PDFs of client tax returns into program for extracting data faster, easier data transfer and avoid transcription errors.

TMN CEO Ed Lyon said that tax professionals are under pressure and technology can facilitate to do efficient work.  Ed Lyon added that AI and robotic process automation are here to do manual work. Competitors such as Intuit are spending billions for convincing clients that do not need professional help.  Tax pros need to evolve and Tax Ninja offers high-value planning services for attracting high-value clients.

TMN’s goal is to partner with tax professionals for offering multifamily office services using Financial Gravity family of financial services companies. Its membership has surged by 50% in the previous year demonstrating tax pros are being seen as real opportunity.

Key Quote

“Tax professionals are under tremendous pressure today,” said TMN CEO Ed Lyon. “Technology used to help them do their work more efficiently. Now, artificial intelligence and robotic process automation are knocking on the door of doing their work for them. At the same time, competitors like Intuit are spending billions to convince clients they don’t need professional help at all. Tax pros need to evolve to survive, and Tax Ninja lets them offer high-value planning services to attract high-value clients.”

Traders Review

FGCO stock is trading below the 20-Day and 50-Day Moving averages of $0.1381 and $0.1463 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1845.


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