Is Your Financial Advisor A CPA?

Is Your Financial Advisor A CPA?

Financial Planning

When picking a financial planner, it’s helpful to think of that person as your own personal financial quarterback. This is the person who will not only be helping secure your financial future but will also be recommending insurance specialists, estate attorneys, and maybe even a good electrician.

You want someone in your corner who is experienced, trusted, qualified and, most importantly, has your best interests at heart. You want someone who knows experienced professionals in the industry who can help you make the best and most informed choices about your finances. Choosing an advisor who is also a CPA is an easy way to ensure your advisor is a trusted financial professional who will always be acting in your best interest.

What is a CPA?

The Certified Public Accountant designation is one given only after completing a rigorous education program and passing one of the longest and most comprehensive exams in the country. Further qualifications vary by state, but most require a four-year bachelor’s degree, with over 48 credit hours in accounting, business, and even ethics courses, in addition to 1-2 years of public accounting experience, which must include audits, consulting services, and tax preparation. Their training also doesn’t stop– in order to keep the designation, CPAs are required to complete continuing education hours to ensure they are staying on top of our ever-changing tax system.

This blend of foundational experience combined with ongoing learning means that a CPA is never stagnant – they are constantly evolving to adjust to whatever may be coming their way. In our busy world, someone who is adaptable and always willing to learn is invaluable to secure your future.

Why a financial advisor who is a CPA?

The terms “financial advisor” and “investment manager” tend to get thrown around a lot, and you always want to make sure that someone who is looking after your finances has the credentials to back up their titles. The very thorough requirements make the CPA designation one of the most respected in the financial services industry and one of the most difficult to obtain.

When you hire a financial planner who is a CPA, you know that they are an experienced, hard-working professional who will do their best to support you throughout every aspect of the planning process. You know that you are hiring someone who has already been a fiduciary for years and will continue to be for many to come.

Further, while they do not necessarily engage in tax preparation services, they work closely with your tax preparer to review your tax documents and have the knowledge to keep up and assist in the preparation if needed.

As a CPA, we have the experience and expertise to practice smart-tax investing

One of the most common questions we get is “How can I maximize my tax savings?” There is no one better to help answer that question than a CPA. While all financial planners do have a general understanding of the tax system, CPAs by requirement are experts in the subject matter. From Roth conversions to harvesting losses to tax advantaged mutual funds and ETFs, we know how to make sure you aren’t overpaying come April. We look at the full picture, from your 401k to your Tax Return, to see not only where we can save now but what opportunities may become available in the future.

David Wealth Management is here to help you secure your best possible financial future through financial advice, investment management, and tax planning. Let’s work together to make sure your future and your retirement are in the best shape possible.

This commentary is provided for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. Content has been obtained from third-party sources and is believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such. The views expressed in this commentary are subject to change based on market and other conditions. The commentary may contain certain statements that may be deemed forward‐looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur.