The American Institute of CPAs has partnered with the Fox Financial Planning Network, a financial services consulting firm in San Diego, to help CPAs add financial planning to their practices.
The new program, available through the AICPA’s Personal Financial Planning section, provides discounted and customized versions of tools and training for CPA practitioners. CPA firms of all sizes can access on-demand training sessions, a documented workflow system, and coaching sessions to effectively manage a financial planning practice and guide clients toward their savings, retirement, education and other goals.
The partnership comes as clients increasingly look to CPAs for broader financial advice. “In these turbulent times, clients are turning to CPAs as their trusted advisors to navigate uncertainty and move toward the futures they’ve imagined,” said Andrea Millar, senior technical manager for the AICPA’s Personal Financial Planning section, in a statement. “For a quarter century, the AICPA’s financial planning section has focused on providing resources that help CPAs help their clients succeed. This partnership with Fox Financial Planning Network is another milestone in that 25-year tradition.”
Across the country, more than 5,000 CPAs hold the AICPA’s Personal Financial Specialist credential, a designation that represents advanced education and experience in financial planning. In its most recent fiscal year, which ended in July, the AICPA saw a 12 percent increase in the number of CPAs with the credential, growth due in part to the rising demand from clients for broader financial advice.
“The program we are delivering is specifically focused on assisting CPAs to fully organize and systematize the delivery of their personal financial planning services,” said Fox Financial Planning Network founder Deborah Fox. “One of the standout components is a collection of customizable templates that provides prewritten, detailed workflows and procedures for the preparation, delivery and follow up of every client meeting. This program will save practitioners literally hundreds of hours of development time.”
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