Your Accountant Also Be Your CPA Financial Planner? | North Advisory

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    Can your accountant also be your financial planner?

    Posted by Northadvisory on April 28, 2017

    Choosing a financial planner is probably one of the most important financial decisions you will ever make…

    …and if you make the wrong choice it can certainly be a costly mistake!

    Knowing who to trust with your life savings can be overwhelming at the best of times, but what if we told you there was now an alternative to finding a financial planner?

    An alternative that will save you time…
    An alternative that will save you money…

    …and an alternative that ensures you can continue your longstanding partnership with the one person you already trust with your financial affairs?

    Your accountant!

    Advantages of using your accountant as your financial planner

    If you were thinking of engaging the services of a separate financial planner in addition to your existing accountant…you might want to think twice before you do.

    Recent changes in Australian law means you can now enjoy the cost-saving benefits of having the one trusted specialist provide you with all of your accounting and financial planning services.

    Here are 5 compelling reasons why using your accountant as your financial planner might just be the smartest financial decision you’ve ever made.

    1. Time-saving solutions

    When you’re time poor, a financial planner who is also your accountant is much better placed to provide a time effective solution for all your financial planning and taxation requirements, especially if you have complex financial affairs or you need proactive advice on how your investment strategies might impact your tax position.

    Having the one point of contact for both your financial planning needs and your accounting services ensures that every single aspect of your wealth management is viewed in context of the bigger picture, and nothing is overlooked.
    And it helps you avoid the time delays from one advisor waiting to hear back from your other advisor .

    2. Reduced administration fees

    If decide to employ the services of a separate financial planner in addition to your accountant you will be paying two lots of fees to two separate advisors for overlapping areas of advice and double handling of information and administrative processes.

    Doesn’t really make financial sense, does it?
    But when you use the one trusted advisor as both your accountant and your financial planner, it will not only save you time…it will also halve your fees.

    You won’t be frittering your hard-earned cash away with multiple advisor fees.

    3. Tax-effective investment strategies

    Financial planning is not just about investments and insurance…although many financial planners will tell you that’s the case.

    Good financial planning is all about the bigger picture.
    It’s about creating the right investment strategy for you. And an important part of creating the best investment strategy is ensuring that your investments are the most tax effective for your situation.

    Because there’s absolutely no point to achieving a great rate of return on your investments…only to hand it all over the tax man!

    4. Clarity and consistency of advice

    When you use your accountant as your financial planner you ensure clarity and consistency and ensure that all aspects of your wealth management are being monitored and maximised.

    And there’s no more worrying about intricate and complex information being inadvertently lost in translation.

    5. Greater choice and transparency of investments

    Many financial planners limit the range of life insurance or investment funds they offer you because they receive commission from selected financial products.

    Your accountant is not allowed to receive commission or provide advice on specific products, so you can be assured that their advice is always neutral. They can also offer you a broader range and greater choice in investments, so you can make informed decisions, choosing exactly where you want to invest your money.

    A financial planner who is also your accountant is not just a glorified insurance salesmen!

    It really does make sense to use the one trusted advisor for all your financial needs

    When it comes to your family’s financial security it really makes sense to use an experienced financial advisor you know and trust…

    …a financial advisor who already has a deep understanding of your finances and a proven track record of wealth management.

    Our accountants who have qualified as financial planners have their financial planning certification in addition to their accounting degrees and CPA qualifications…

    …whereas traditional financial planners only hold their financial planning certification.

    Our team at North Advisory can now look after every aspect of your financial security, including financial planning advice.

    Our Accountants Private Advice is the future of financial planning.

    Find out more. Read more Personal Wealth Management articles.