Tax & Financial Planning Accountants (CPA Firms):
Highlights of their Models for Entering the Financial Planning & Investment Management Business

Recently Released!!!
Date Published: June 30, 2015
Summary PPT Deck: 52 Slides

Reference PPT Deck: 1,105 Slides

The purpose of this research is to provide 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 unfavorable press of the audit business, declining economics of the tax 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 the CPAs in private practice work at the twenty largest CPA firms. The vast majority of CPAs 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 research provides a top down view of the tax & financial planning accountants at CPA firms.

This research addresses the three historical phases of the the CPA firms industry, including: 
  • Auditing Business Emergence Phase
  • Tax Business Emergence Phase
  • Financial Planning & Investment Management Business Emergence Phase

    This research defines CPA firm financial advisors, including:

    • Tax Accountants
    • Financial Planning

    This research outlines the key service providers to CPA firms, including:

    • Tax & Financial Planning Technology Vendors
    • Independent Broker/Dealers, Custodians, & Clearing Brokers
    • Mutual Fund Companies & Other Investment Product Companies

And this research makes the following future predictions for the the CPA firms markets, including: 

  • Rebound in Traditional CPA Business
  • Continued Bifurcation of the Market
  • Market Consolidation
  • Attrition & Recruiting Issues
  • Service Expansion

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