Updated Saturday, August 29, 2015 as of 3:19 AM ET

Advisors Face New Competition From Accounting Firms

Looking to better meet the needs of its clients, New Orleans-based accounting firm Ericksen, Krentel & LaPorte teamed up with growth consultants 1st Global less than two years ago to help grow its wealth management business. Today, the firm holds the crown as the first tax-optimized wealth management firm to serve the greater New Orleans area.

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Comments (1)
Financial Planners, beware! This article not only deals with the future of "planning" but what's happening all around us. Many, if not most, individual financial planning firms have isolated their planning activities on the singular wealth management issue of Investments. Consumers are seeking, and demanding, a bigger picture approach when it comes to preserving and protecting their wealth. The interrelationship between and among thirteen different wealth management issues should be the basis of true planning. My newly released book, COVERING YOUR ASSets, delves into this issue in depth. Between CPA firms and the rapidly expanding wealth management divisions of banks, the planner who offers primarily investment advice is doomed for extinction.
Posted by Leonard C | Wednesday, March 26 2014 at 3:37PM ET
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