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September 2010 » The ‘Personal’ in Financial Planning
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Elizabeth A. Payne, PhD, CPA, and David A. Dubofsky, PhD, CFA, and Lyle Sussman, PhD
The AICPA/Moss Adams CPA Financial Planning Practice Study released in April 2008 reported substantial growth in revenues of CPA financial planning practices, a rate that was higher than the average of their peers. In addition, the AICPA reports that there are now more than 4,200 current PFS credential holders, representing a growth rate of 25% in the last five years. The Bureau of Labor Statistics, in its 2010–2011 Occupational Outlook Handbook, predicts that employment of personal financial advisors will grow by 30% from 2008 to 2018 due to the number of baby boomers who will be retiring.
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