New Liability Concerns for Accountants, Financial Planners and Attorneys Regarding IRA Advice

Accounting Today

Many individuals in the United States have IRA accounts. These retirement accounts may be substantial and are often the target of financial planners who are interested in handling and managing the IRA assets, for a fee, of course. This is big business for financial planners. In addition, many accountants are licensed to sell insurance products and manage money. Accountants who are financial planners often have an interest in a wealth advisory unit that is connected, directly or indirectly, with their accounting firm. Here comes the liability headache that involves the retirement plan area.