CPA / Financial Planner - Local (does it matter)

4 Replies

1. It's there any benefit to hiring a local CPA or financial planner? 2. Do you use the same person as a CPA and financial planner? 3. It seems to me that one person would be able to maintain a better overall picture, but in your opinion is it best to keep these two separate? My details are as follows. I live in San Marcos, TX which is halfway between Austin and San Antonio, but I probably spend at least 9 months a year traveling for work. I am looking to hire a CPA which is something that I should have done years ago. Since I am trying to transition from a full-time career as an industrial equipment inspector into a full-time real estate investor, I would like to find someone who specializes in real estate. I would prefer more than just an accountant who regurgitates what the computer says. I would like to find someone who is both capable and willing to help me develop a financial plan that will help me achieve my immediate and long term goals. Thoughts?

@Mike Castellow

Some people prefer to have a local CPA who they can meet with from time to time. In this day and age, however, technology allows for all types of virtual meetings. So it really matters less where the pro is located and it matters more what the experience and competence level is.

Many CPA firms have in-house financial planners. Those who don’t might be able to refer to one that they work closely with to help their mutual clients reach their goals.

@Mike Castellow

My pleasure Mike. I forgot to mention that there is an active poster here, @Bernard Reisz who is both a CPA and a financial planner. You might want to reach out to him.

BTW, I remember back in the day spending some weekends floating down the Guadalupe River. Great memories!

@Mike Castellow You're spot on in all the points that you raise. All the components of your financial strategy are intertwined, but the challenge is finding an integrated way to approach them. Financial professionals tend to specialize in specific segments of financial strategy - and the results for clients is a fragmented overall approach.

I agree with @Daniel Hyman that while there is some benefit to having a financial advisors that are local, that benefit has been greatly eroded with advances in the way business is done. Whether or not you use someone local,  your CPA's and financial advisor's scope should definitely be national. 

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