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.