PFP Study: Hot Niche Shows No Signs of Cooling
New study from Bay Street Group shows CPAs surging into personal financial planning services
Key Data Points:
Tax, Accounting and Financial Professionals are practically unanimous in agreement that the Baby Boom generation IS NOT ADEQUATELY PREPARED for retirement.
Professionals seem to agree most often that a reasonable rate of return on retirement investments over the next 20 years should be ABOUT 5% TO 6%.
Most of today?s Baby Boomers should expect a retirement lasting AT LEAST 20 YEARS.
Baby Boomers may be in for a rude awakening: Professionals believe most RETIREMENT ACCOUNTS ARE UNDER-FUNDED and the Boomers will need to WORK LONGER and to an OLDER AGE than they currently expect.
Professionals are widely involved in RETIREMENT PLANNING, utilizing TAX, ESTATE AND TRUST STRATEGIES, and are routinely involved in SAVINGS AND INVESTMENT ISSUES.
The CPA?s biggest reservation about working with an outside financial services provider is that the provider is, too often, TOO ?SALESY.?
More than 8 in 10 CPAs see the profession becoming MORE INVOLVED in Personal Financial Planning Services over the next three to five years.
Download the pre-publication Executive Preview here: BSGPFPTrendsExecPreviewNov05_wbdr.pdf
The study is still open and underway. It’s not too late to add your point of view and get the results.
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