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Date Published: September 2011
123 Slides

The purpose of this research is to rovide readers with an initial understanding of the Certified Public Accountants (CPAs) market (along with the related Enrolled Agents or EAs market), and their strategies for entering the financial planning & investment management business. CPAs, EAs, & other tax professionals have been flirting with the financial planning & investment management business for nearly two decades. They have been pushed by the declining economics of the tax business and the unfavorable press of the audit business, and pulled by the economic possibilities of serving the investment needs of their existing client bases. There are approximately 40,000 CPA firms and 460,000 CPAs. A small minority of these CPAs work at the twenty largest CPA firms. The vast majority work as sole practitioners and at other small firms. A parallel research topic published by Tiburon, called A Comprehensive Overview of the Product Usage, Business Models, & Best Practices of Independent Tax Professionals, provides extensive bottom up analysis of the specific actions of tax professionals. This report provides a top down view of the market.