Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Do accountants have to register as RIAs (Registered Investment Advisor) to do financial planning?

April 26, 2017Accountants advisor Financial Planning Investment REGISTER registered rias

0

Posted

Do accountants have to register as RIAs (Registered Investment Advisor) to do financial planning?

1 Answer

0

Posted

No. Currently there is an exemption for accountants to register as RIAs. However, this exemption is only applicable if an accountant’s financial planning involvement is only “incidental to” his practice. While a firm or individual may operate under this exemption in the beginning of the development process, it is certainly not advisable to operate under this exemption when a practice is up and running. We strongly advise anyone interested in developing a financial planning practice to register as an RIA. For additional information about this important area, go to the section of this website.