How to get started as a financial planner.
Journal of Accountancy › Vol. 173 Nbr. 5, May 1992
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Summary
Includes related article
Larry Fowler, Isabelle Curtiss and Terry Stock are all certified public accountants who chose to move into the financial planning field. Their experience indicates that important issues relating to the choice are to identify new areas of study, gain basic accounting experience first, buy financial planning software, and seek help from the American Institute of Certified Public Accountants's Personal Financial Planners division. Accountants should also evaluate the costs of the move and consider whether they need to register with the SEC to perform investment adviser services.See the full content of this document
Extract
How to get started as a financial planner.
In the 1980s, as the term financial planning" first entered the American consumer's lexicon, almost anyone could and did call himself or herself a financial planner. Stockbrokers, accountants, bankers, insurance agents and others claiming specialized training offered a confusing array of credentials: CFP, CPA, CLU, APFS and ChFC. But as the smoke clears in the financial services industry, CPAs, many holding the accredited personal financial specialist (APFS) designation conferred by the American Institute of CPAs, have emerged among the leaders in delivering financial planning services. (For more on the APFS designation, see the sidebar on page 42.)
Today, more CPAs are considering expanding into personal financial planning and still others are considering specializing in this discipline. To help them get started, the Journal spoke with three successful practitioners to see how they got where they are today and what advice they can offer others who may be hoping to achieve similar success. LARRY FOWLER-AVOIDING THE TAX WARS Larry Fowler, CPA, APFS, has always been associated with local firms, first in California and now in Bellevue, Washington, where he is a sole practitioner. Fowler's experience includes tax, auditing and compilation engagements, primarily for sma...See the full content of this document
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