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Accountant vs Financial Advisor: Setting Expectations

By August 9, 2022Business, Retirement

If you’ve asked yourself this question before you’re not alone. Many people think that a CPA or accountant and a Financial Advisor are one in the same, but that is not the case. Although some of their knowledge may overlap and there are some professionals that may be licensed for both, there is a distinct difference. So, what should you expect from your Accountant vs Financial Advisor? Good question. Let’s explore.




A CPA, or Certified Public Accountant, understands the IRS regulations and is willing to deal with their crap on your behalf. Your accountant mostly deals with anything tax related. They will help you get the most out of your deductions so that you keep more of your money in your pocket and give less away to Uncle Sam. Your CPA’s job is to advise on tax-saving strategies such as investing in an IRA, not setting up the IRA for you.

Simply put, an accountant will advise you on tax strategies and tax consequences.


Financial Advisor


A financial advisor basically helps you plan for the future. A good one will ask you 100 questions to get a real idea of what you want your financial future to look like, then will help you execute that plan. Their role is to advise you on what to invest in, and how much to invest so that you can send your kids to college, or retire on a beach, or both!

Your financial advisor will have regular meetings with you to make sure you’re on the right track. They’ll be there to help you make adjustments when your needs change, or the economy shifts.

BE AWARE – Product pushers are NOT financial advisors. They are trying to sell you on one tool. Financial advisors have access to the multitude of financial products out there to build your plan.

Simply put, if you need help with your investments, planning your retirement, or gifting assets to your children, hire a financial advisor. Their main role is Financial Planning.


Financial Advisor = Creating a Customized Financial Plan

CPA = Advising on Tax Consequences of Financial Plan


When it comes to an Accountant vs Financial Advisor, know what to expect. They are both important, but have different roles in your financial planning.

Incite Tax helps with all your tax, cash management, and bookkeeping needs. We also know a reputable financial planner we refer clients to for all of your investment needs. Give us a call or schedule an appointment and we’ll get you set for the present and the future!




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