despite cpas’ huge advantages, why do they own only one-tenth of 1% of the business? the cpa profession could — if it mobilizes on the opportunity — quickly become the dominant provider of comprehensive high-profit wealth management and financial planning … continued
clients were already clamoring for it.
[jwplayer mediaid=”13618″]
in this series of video bites, david strother, financial services director at dsf wealth management, the investment arm of darnall, sikes, gardes & frederick cpas in lafayette, la., explains how the firm decided to enter the wealth management business… and what they learned, sometimes the hard way.
$200,000 per year doesn’t cut it anymore.
the established notion of “mass affluence” is getting pushed aside by a new study that redefines the spending power of the truly and the up-and-coming affluent as the “class affluent” and the “emerging affluent.”
key findings:
the rise of the accountant-adviser.
via smart money
a growing number of cpas are refashioning themselves as more well-rounded financial advisers.
some 5,000 cpas now boast a “personal financial specialist” credential, up 28% since 2008, and another 7,650 accountants are now certified as financial planners by the certified financial planner board of standards.
and many of those who aren’t worried, should be.
almost 40 percent of working americans say they will never afford retirement, which, for the second year in a row, ranks as the nation’s most important financial concern, according to an aicpa survey.
what will you get from your tax practice this season?
while traditional tax practitioners are toughing out another busy season, most wealth advisors and financial planners are expecting their businesses to grow phenomenally faster.
read more →
“boomers have been scarred.”
half of baby boomer clients who have postponed retirement due to the economic downturn expect to work at least four years longer than they originally planned, according to cpa financial planners.
fifty-two percent of cpa financial planners said their clients – who typically have between $500,000 and $5 million in assets – are at least somewhat confident in the stock market now — a turnaround from a year ago when 54 percent said their clients were not very confident.
more highlights:
advisors need to understand the differences between men and women clients. in what could be a wake-up call for accounting firms, a majority of women think that their wealth managers could do a better job of serving them, and nearly … continued
how to brace your clients for tough news. by rick telberg with october 15 now past, accountants and tax professionals are turning their attention to year-end tax planning with their clients. and there’s no shortage of topics and strategies to … continued
the aicpa is reporting that a significant number of cpa financial planners – 40 percent – are strongly recommending that their clients hold larger cash positions. thirty percent are recommending commodities such as gold and precious metals. eighty percent of … continued
31% see prolonged recession. and they all have an opinion to deal with.
sign of increasing optimism brightens gloom as americans gauge outlook for u.s. recovery via aicpa even as many americans hold a pessimistic view of the u.s. economy, there is a sign of rising optimism suggesting some may be seeing prospects … continued
financial crash means tax season opportunities for savvy cpas. how’s your busy season so far? join the survey, compare results with your peers. by rick telberg lay-offs. cost-cutting. the stock market crash. global credit freeze. ruined retirements…. and then there’s … continued