Accountants Trying to Expand Beyond Bean-Counting Biz
American Banker (07/19/01) Vol. 35, No. 27 p.11; Friedman, Amy S.

CPA firms are expanding their service territory to include the retail financial services marketplace. The trend comes three years after the Uniform Accountancy Act was revised. The law freed CPAs to accept commissions for selling financial products and fees for providing financial advice and referrals. Research compiled by the American Institute for Certified Public Accountants (AICPA) shows that in the time since the model licensing law was refashioned, the number of states in which CPAs are permitted to accept these monies has more than doubled. According to AICPA's poll, 56 percent of accountants now either offer financial planning services or plan to do so in the near future.

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