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

Tax reform complicates year-end tax planning

Get your clients ready for tax season with these year-end tax planning strategies, which address how to make the most of recent tax law changes, such as the new deduction for qualified business income and the cap on the deductibility of state and local taxes.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.