For many CPAs, becoming an investment adviser is a smart decision. Even after deciding to become one many people will still have questions. This checklist offers help to CPAs who want to establish their own investment advisory firms.
* Do client research. Get reactions from some of your current accounting clients about your proposed investment advisory services.
* Research the competition. Make sure the local investment community is not threatened by your expansion plans. (Some clients will always need a full service broker to provide certain services.)
* Assess your skills. Evaluate the abilities of partners and existing professional staff to advise …