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New 1st Global Study Finds Tax Knowledge Most Important Factor in Choosing a Financial AdvisorToday, 1st Global, an independent wealth management partner to exceptional CPA firms, announced the results of a new study "Investors CPAs and Tax-Focused Financial Advice" which revealed 66 percent of affluent and emerging affluent consumers view tax knowledge to be the most important factor when choosing a financial advisor. Also, nearly half of respondents (47 percent) associated the CPA designation with financial advice, with 40 percent associating CFA's with financial advice. Further, even though most (53 percent) survey respondents currently work with a CPA or accountant, tax-aware advice remains a key concern. According to the survey, tax-optimized investing (58 percent), estate tax planning (45 percent) and tax burden reduction (45 percent) rated the top three specialties these investors seek when choosing a financial advisor. "It's clear tax-oriented specialties are top of mind for many affluent and emerging affluent on the heels of tax reform," said David Knoch, President of 1st Global. "These results indicate that there is a significant opportunity for CPA firms that combine wealth management or other services with tax advice to step in and educate their clients that all their needs can be met under one roof." Additional findings include:
The study was facilitated by PopResearch in March/April 2018. The total sample size was 300 respondents U.S. consumers between the age of 31-50 with $100,000 of investable assets and an annual household income of more than $250,000. The full whitepaper can be viewed at http://go.1stglobal.com/CPAadvice1. About 1st Global 1st Global was founded in 1992 by CPAs who believe that accounting, tax and estate planning firms are uniquely qualified to provide comprehensive wealth management services to their clients. 1st Global is a research and consulting partner that provides CPA, tax and estate planning firms with education, technology, business-building framework and client solutions that make these firms leaders in their professions through dedicated professional client relationships built around wealth management. Around 400 firms have chosen to affiliate with 1st Global, making it one of the largest financial services partners for the tax, accounting and legal professions. Securities are offered through 1st Global Capital Corp. which is a member of FINRA and SIPC and is headquartered at 12750 Merit Dr., Ste. 1200 in Dallas, Texas, 214-294-5000. Investment advisory services are offered through 1st Global Advisors, Inc. Additional information about 1st Global is available at www.1stGlobal.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20180516005045/en/ |