MOST TAX PROFESSIONALS ENTER PFP ARENA VIA BROKER/DEALER: The majority of tax professionals who enter the financial planning business do so by hooking up with an independent broker/dealer firm, according to a report by market research and consulting firm Tiburon Strategic Advisors.
According to the report, "A Synopsis of the CPA Industry & Highlights of their Models for Entering the Investments Business," CPAs use five models to provide financial planning and investment management services: hourly planning; informal, non-revenue-sharing referral relationships; formal, revenue-sharing referral relationships; setting up their own registered investment advisory firm; or becoming reps at independent broker/dealers.
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