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Rules on being a tax preparor and financial advisor?

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Feb 10, 2016 3:09 pm

Hey all -

This time of year is rife with clients calling at 7 pm with tax questions as they sit next to their tax preparer. I consistently become annoyed at how little tax preparers understand about financial taxes in my area. I wonder if I was independent if I could also do taxes as a side business or if Finra or the SEC prohibits that activity. I am not a CPA but a CFP. Any thoughts?

Thank you.

Apr 7, 2016 8:55 am

You can certainly do this so long as it is disclosed to your BD. Some firms (HD Vest, 1st Global) even focus on individuals doing just that. You’ll need to get an IRS PTIN and EFIN if working alone. PM me for more info if still considering.