Academic journal article Journal of Accountancy

CPA Financial Planners Poll Cites Client Concerns

Academic journal article Journal of Accountancy

CPA Financial Planners Poll Cites Client Concerns

Article excerpt

According to 151 CPA financial planners attending the American Institute of CPAS 1993 Personal Financial Planning Conference, the possibility of income tax increases in the 1990s was the most important client concern. The survey, taken about one week before President Clinton's inauguration, found that 38% of CPA financial planners' clients were concerned income taxes would take a larger portion of their income. Another 24% of the clients were concerned they would not be able to reach retirement goals. Volatile investment markets and estate taxes were each cited as client concerns by 13% of the CPA financial planners.

As further confirmation of client concern over higher income taxes, 37% of those polled said income tax planning was the practice area that had drawn the most attention since the election. Estate planning was mentioned by 25% of the CPA financial planners, with 14% citing health care costs.

Seventy-three percent of the respondents said they had experienced a moderate increase in the number of people seeking financial planners over the past year. …

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