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Nationwide: Affluent Investors Like CPA Advisors

By Staff Writer

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NU Online News Service, Jan. 15, 2004, 5:01 p.m. EST – Many affluent investors are getting investment advice from their certified public accountants, according to survey results released by Nationwide Financial Services Inc., Columbus.[@@]

When researchers from Mathew Greenwald & Associates, Washington, polled 1,016 high-income U.S. residents for Nationwide through the Web, they found that 45% identify CPAs as a key source of investment advice.

The survey participants gave CPAs high marks, with 91% agreeing that their accountants take time to explain things that they don’t understand.

The researchers also found that 80% to 90% of the participants agree that their accountants do a good job of presenting objective analyses, researching all options and staying in touch.