CPA or Broker: Where to Draw the Line

The ability to accept commissions is nothing new for the accounting profession. For many years, CPAs have accepted commissions as part of their line of services in brokering securities, insurance and other savings instruments--in harmony with their own accounting services.

Where to draw the line and make the distinction for the public is another matter altogether. There is a substantial gray area involved. Clients may be surprised to discover that their trusted CPA also can help in the risk and savings arena.

And, if trust is the overriding issue, will a client trust the advice of their CPA if they don't know for whom the CPA is working? Is it the insurance company or the client?

Many CPAs are successfully offering services and enhancing their income by offering securities. While the solution and decision to broker is up to the CPA, principals and others should think of their clients' expectations and whether this change in services is an important retention factor.

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Upcoming CPE Webinars

Jul 16
Hand off work to others with finesse and success. Kristen Rampe, CPA will share how to ensure delegated work is properly handled from start to finish in this content-rich one hour webinar.
Jul 17
This webcast will cover the preparation of the statement of cash flows and focus on accounting and disclosure policies for other important issues described below.
Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.