The Skills a Financial Advisor Can Transfer Into a Career as a CPA in 2015

Financial advisors have similar roles and functions as those of Certified Public Accountants, however there are some significant differences between the two careers. For starters, financial advisors receive a majority of their income from commissions which, because of a mostly-unpredictable stock market, can mean a paycheck that is here today and gone tomorrow. Especially in 2015. CPAs on the other hand experience many of the same career benefits with a much more robust and stable income.

The Roles of Financial Advisors and CPAs

A financial advisor’s main duties include developing a comprehensive profile of their client’s financial status with a focus on identifying areas of portfolio strengths and weaknesses. An advisor can also be a voice of reason to clients, as usually money is an emotional subject and, from these emotions, bad decisions can be made. A cpa vs financial advisor can help investors allocate resources to achieve both short-term and long-term goals, as well as shape investments in ways that minimize tax burdens. And finally, financial advisors help with estate planning to ensure finances are passed on to loved ones in a way that protects the monetary value as much as possible.

There was a time CPAs were thought of as glorified number crunchers but that is really no longer the case. Today’s CPAs are financial strategists that offer tax and financial planning services, investment advice, estate planning, account auditing, business consulting as well as consulting on mergers and acquisitions.