Underwood: should accountants branch into wealth management?

Faced with increasingly predatory consolidators, should accountancy firms look to grow their practice by branching out into wealth management and independent financial advice services. Keith Underwood examines the pros and cons

 

As the regulatory regime for accountants, solicitors and financial services firms has evolved over the last 15 years, a number of accounting practices have been looking at wealth management and independent financial advice services.  

There are always two aspects to cross-providing professional services, and these are both client-driven and organisationally restricted.  

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