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.

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

SPONSORED REPORT

Getting leases in line

ASC Topic 842 is a relatively simple standard that can mean profound changes for organizations with leases. This report examines what makes this standard challenging and describes new ways for CPAs to add value.