Looking for a Financial Advisor who Serves Accountants and CPAs as Clients?

Navigating the complexities of finance is second nature to accountants and CPAs (Certified Public Accountants), but when it comes to managing their own wealth, even the experts can benefit from expert guidance. Financial advisors who specialize in serving accountants and CPAs understand the unique financial needs, challenges, and goals of these professionals.

Whether it’s optimizing tax strategies, managing fluctuating income, or planning for retirement, a specialist advisor who specializes in serving accountants offers tailored solutions that align with the demanding nature of the accounting profession.

You’ll likely find dozens of nearby financial advisors well-suited to help you reach your money goals with a personalized plan. But it may be more difficult to find a financial advisor who specializes in serving accountants and CPAs.

Fortunately, many financial advisors offer virtual services so you can meet online no matter where you (or they) live. This means you can choose to hire a specialist financial advisor who lives hundreds of miles away if you decide their knowledge and experience working with accountants is a better fit to help with your unique financial planning needs.

Financial Planning for Accountants and CPAs

💡 In the Q&A below, you’ll gain insights from financial advisors who work with accountants and CPAs to help them make smart decisions to enjoy life more today while preparing for a comfortable retirement in the future.

🙋‍♀️ Do you have questions not answered below? Use the form on this page to submit your questions, and we’ll update this article with answers from the financial professionals and educators in the Wealthtender community. You can also contact the financial advisors featured in this article directly to set up an introductory call or ask your questions by email.

Q&A: Financial Advisors Specializing in Accountants and CPAs

Three Questions with Dave Bensch, CFP®

We asked Dave Bensch, a Perrysburg, Ohio, financial advisor and specialist serving accountants and CPAs to answer questions to help accountants interested in hiring a financial advisor.

Q: For accountants and CPAs who are unsure whether or why they should hire a financial advisor, what guidance can you provide to help them make a more informed and educated decision?

Dave: CPAs and accountants have extensive training and typically crunch numbers for a living, but in some cases, that knowledge doesn’t translate to the nuances of personal finances. Everyone has blind spots, and a financial advisor can help accountants with things like planning for retirement, investing wisely, and making sure known and unknown financial risks are addressed. Even though CPAs and accountants likely understand most topics, financial planning may not be their area of expertise and trusted advisors can give a different perspective to help them make the best decisions for their family and future.

Sometimes, it can be hard to make choices about your own money, even if you are comfortable with the basics of personal finances. A financial advisor can look at your situation without any bias and offer advice that you might not have thought of. By working with a fiduciary financial advisor (like a Certified Financial Planner), CPAs and accountants can feel more confident that they are doing everything they can to reach their financial goals.

Q: How do the services you offer CPAs and accountants distinguish your firm from other advisory firms?

Dave: When working with CPAs and accountants, the first thing we do is to make no assumptions. We’ve learned that accountants have a broad range of knowledge when it comes to financial planning and we want to pick the appropriate pace when it comes to learning about their goals. Many CPAs and accountants may feel the pressure that they should have it all figured out, but we work hard to create a safe place to address questions regardless if they are basic or advanced.

Our approach is to build a custom plan (what we call a Financial Blueprint) that is unique to each accountant. We will leave no stone unturned when it comes to planning for now and into the future. Ultimately, we want the accountant and their spouse/partner to be on the same page and work toward positive outcomes in a collaborative way.

Accountants have the tendency to be risk-averse and skeptical of financial advisors. We work with intention to make sure our process addresses their concerns and is transparent and comprehensive. We have found that our flat, fixed-fee, structure is appealing and easy to understand for CPAs and accountants.

You can find out more about our approach to serving accountants by visiting this page.

Get to Know Dave Bensch, Financial Advisor for Accountants and CPAs:

View Dave’s profile page on Wealthtender or visit his website to learn more.

Q: What questions do you recommend CPAs and accountants ask financial advisors they’re considering hiring to help them decide if they’re a good fit?

Dave: It is a big deal for a CPA or accountant to consider a formal relationship with a financial advisor. Many CPAs are advisor-skeptical and have do-it-yourself tendencies when it comes to finances and investing. We believe that CPAs and accountants would benefit from working with a financial advisor to align their financial decisions with their long- and short-term goals.

Before engaging with a financial advisor, here are some questions we encourage CPAs and accountants to ask:

1. What are your qualifications and certifications? (Look for credentials like CFP, CFA, RICP, etc.)
2. Can you describe your typical client?
3. What services do you offer, and how do you tailor them to individual clients?
4. What is your investment philosophy?
5. How do you charge for your services? (flat fee, hourly rate, percentage of assets under management, commissions, etc.)
6. What additional costs should I expect (e.g. fund fees, transaction fees)?
7. What is your preferred method of communication and how often will we meet?
8. Are you a fiduciary at all times? (A fiduciary is legally obligated to act in your best interest).
9. Have you ever had any complaints or disciplinary actions taken against you?
10. What happens if something happens to you? (Who would take over and how would that transition work?)

These are a sampling of the questions we suggest you ask to determine if you and the potential advisor are a match. It’s also important to trust your instincts—if something doesn’t feel right, it may be worth considering other options.

Q: Is there a particularly memorable experience or a moment you recall with an accountant or CPA client when you first realized they have unique opportunities and circumstances when it comes to their financial planning needs?

Dave: Prior to working with CPAs and accountants, I did the majority of my work for people nearing or in retirement. As we would help clients through their retirement journey and implement various planning techniques, we would inevitably hear the question from a client, ‘Would it be okay if I asked my CPA about this plan?’

We fully endorse a collaborative approach, and we are happy to talk with our client’s CPAs before we make significant moves. In one instance, our client was approaching Required Minimum Distribution (RMD) age and we found ourselves reaching out to their tax accountant regarding the timing of the withdrawals. I had a brief conversation with the CPA and his first question was, ‘What is an RMD?’

I was a bit surprised by this question, because like so many other people, I had put CPAs and accountants on a pedestal when it came to all things finances.

This short interaction made me realize that CPAs and accountants are incredibly brilliant people and that it’s unrealistic to expect them to know all things. This allowed me to go down the path of creating a safe, discreet, and collaborative space for CPAs and accountants to ask any and all questions related to their personal finances and to make sure they are moving forward in achieving their goals.

About the Author

About the Author

Brian Thorp

Brian is CEO and founder of Wealthtender and Editor-in-Chief. He and his wife live in Austin, Texas. With over 25 years in the financial services industry, Brian is applying his experience and passion at Wealthtender to help more people enjoy life with less money stress. Learn More about Brian