Can someone help me understand the difference between services provided by PMW, FA, and accounting firms?
Pardon is this has been asked plenty of times. It has recently come to my attention that my brother in law has an accounting firm that essentially manages and handles his finances in every conceivable way ( pays his bills, makes sure there's no fraudulent charges, handles all logistics related to his real estate, advises on investments, etc...).
What's the difference between an accounting firm that provides these services vs a financial advisor (let's say a firm started by a CFP) vs a private wealth management firm? Are there overlap in the services provided here? Or are they distinct? Are there services one would provide that the other wouldn't?
If there are resources that cover the differences and services provided by each, please let me know. Thanks for the help!
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