Q: Why is a CPA giving investment advice and selling investment products?

A: CPA's are not regulated on a federal level. They are regulated on a state level. More than 30 states have allowed CPA's for many years to be investment advisors. California conformed to this on January 1, 1999. During 1999 Jeffery Froshman passed several NASD exams and received his California Life Insurance licenses. To make sure that our clients knew that we were serious about this and not just "dabbling", he studied and took the CFP exam in 2000/2001, passed it, and now he is also a Certified Financial Planner. The only restriction that is imposed on him is that he is not allowed to sell investment products to our audit clients.

So while it may seem strange for you to see CPA's now doing investments, it is a natural progression of the level of service we can provide our clients. Our firm believed in it so much, that our mission statement has incorporated this philosophy: "To provide comprehensive financial and tax planning with implementation." The "implementation" part is to let clients know that we don't have to stop giving them theoretical answers, but can actually get them the products that best serve their financial needs.

Since we have started this, during late-1999, we have worked with many of our clients who have enjoyed the 1-stop shopping approach, of having their CPA, who knows their business and money the best, to be able to assist in their retirement, insurance and investment needs.