Objective Advice Drives Revenue


PERSONAL FINANCIAL PLANNING

The 2007 AICPA/Moss Adams CPA Financial Planning Practice Study, which tracked 431 CPA and CPA-affiliated firms between 2004 and 2006, revealed an average revenue increase of almost 35% per year for financial planning and investment advisory practices.

According to the study, client demand for objective advice is a primary factor contributing to the growth of this practice niche.

About half of the firms studied began offering these services between 2000 and 2007, while 35% began in the 1990s. Only 15% reported they had financial planning practices before 1990.

Source: The AICPA, www.aicpa.org; and Moss Adams LLP, www.mossadams.com.

SPONSORED REPORT

A new line of business to consider

Technology assessments may open the door to new engagement opportunities for your firm. What is a technology assessment? How do you perform one? JofA Tech Q&A author J. Carlton Collins shows you in a detailed explanation.

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.