Ask Terry Questions CPA as financial advisor

CPA as financial advisor

By Terry Savage on December 27, 2018 | Financial Planning / Retirement

Is it a good idea to have your CPA and also have him as your Financial advisor???

Terry Says

That all depends on the CPA’s qualifications and experience.  Your CPA has a lot of perspective in how you might best arrange your financial life to save tax dollars.  If he or she is also a CERTIFIED FINANCIAL PLANNER, then the advice may go beyond tax preparation and include  investment and broader planning considerations.  But you MUST ASK how he or she would be compensated for this additional financial advice.  Is he or she getting a commission or fee from the sale of products they recommend — whether mutual funds or life insurance?

Ask them to put it in writing — to sign this Fiduciary Pledge:  “I will fully disclose all fees and commissions I receive, and promise to put your interests ahead of my own.”

If they won’t do that, then find a financial planner who will sign the pledge.  Search at


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