Journal of Accountancy Large Logo

Search Results

Investment Advisory Services

Sort by: Show:
Page  1 | 2 | 3

1. The accidental investment adviser  

BY Deborah K. Rood, CPA
As a client’s trusted business adviser, a CPA is often asked to “look over” an investment a client is considering. In other cases, CPAs sometimes obtain a client’s monthly investment account statements in connection with tax and/or bookkeeping services. But based on the experience of the AICPA Professional Liability Insurance Program, such scenarios can lead to professional liability claims alleging the CPA provided erroneous investment advice.

2. SEC issues reminder on investment adviser due diligence   WebExclusive

BY Ken tysiac
Investment advisers need to follow appropriate due-diligence processes when recommending or placing clients’ assets in alternative investments such as hedge funds, private-equity funds, or funds of private funds, the SEC said in a risk alert issued Tuesday.According to the alert from the SEC’s Office of Compliance Inspections and Examinations (OCIE), advisers are:Seeking more information and data directly from the managers of alternative investments.Getting third parties to supplement and validate the information managers of alternative investments provide.Performing additional quantitative analysis and risk assessment of alternative investments and their managers.“Money continues to flow into alternative investments,” OCIE Director Drew

3. The brave new world of cost basis reporting   CPEDirect

BY Jonathan Horn, CPA, CGMA
Recent tax law changes have made accurately calculating and reporting clients’ capital gains even more critical with higher effective tax rates being imposed on those with higher adjusted gross income (regardless of source) and the new Sec. 1411 net investment income tax taking effect for tax year 2013.

4. SEC strengthens broker-dealer audit requirements   WebExclusive

BY Ken Tysiac
The SEC on Wednesday approved rule amendments that strengthen audit requirements for broker-dealers. The amendments are intended to increase protections for investors whose money and securities are turned over to SEC-registered broker-dealers. The final rules are available on the SEC’s website. Under previous rules, broker-dealers are required to file annual reports with the SEC and the self-regulatory organization (SRO) designated to examine that broker-dealer that contain financial statements audited by a PCAOB-registered independent public accountant.

5. SEC lifts ban on advertising for certain private securities   WebExclusive

BY Ken Tysiac
Issuers of certain private securities, including hedge funds, will be able to advertise to the general public under a rule the SEC adopted Wednesday. But only “accredited investors” will be permitted to invest in these private securities offerings as a result of rules adopted by the SEC on Wednesday.

6. Choose wisely: New brochures can help CPAs vet investment advisers  

BY Julie Jason, J.D.
Disclosures mandated in 2011 by the SEC help investors become more informed about the financial advisers they work with or wish to retain. CPAs can use them as part of their due-diligence process. CPAs will be viewed as fiduciaries, according to Walter M. Primoff, CPA/PFS, former deputy executive director of the N.Y.

7. A wealth of opportunity   CPEDirect

BY Lewis J. Altfest, CPA/PFS, Ph.D., and Walter M. Primoff, CPA/PFS
Much has been written in recent years about wealth management services that call for practitioners, including CPAs, to have personal financial planning certification and to come under investment-adviser or other regulations. Much less attention has been paid to PFP services that don’t require specialization or additional licensing. One of these services is helping clients assemble and oversee wealth management teams.

8. SEC changes performance fee thresholds, net worth calculation   WebExclusive

BY Ken Tysiac
Investors no longer will include the value of their home in the net worth calculation that can determine whether registered investment advisers can charge them performance fees, the SEC announced Wednesday. SEC rules allow registered investment advisers to charge performance fees if the client’s assets managed by the adviser or the client’s net worth meets certain thresholds.

9. Confidence in U.S. Capital Markets Down Significantly Since 2007   WebExclusive

Investors’ confidence in U.S. capital markets continued a five-year trend of declines in 2011, according to the AICPA-affiliated Center for Audit Quality’s (CAQ) fifth annual Main Street Investor Survey, and confidence in investing in U.S. public companies declined for the first time since the survey started asking the question in 2008.

10. Fund Advisers Face New Registration, Reporting Regs  

BY Jeffrey Gilman, J.D.
The passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act in July 2010 marked the onset of major changes for financial advisers. The SEC in June followed through with rulemaking responsibilities under the new law by releasing final rules that include new registration and reporting requirements for advisers to hedge funds and other private funds, and define “family offices” that are excluded from the Investment Advisers Act of 1940.
Page  1 | 2 | 3
CPE Direct articles Web-exclusive content
AICPA Logo Copyright © 2013 American Institute of Certified Public Accountants. All rights reserved.
Reliable. Resourceful. Respected. (Tagline)