Joint Estate/Financial Planning Firm Forum
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Anonymous Posting
Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
Failure to follow these rules will get you outed, warned, or banned.
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Anonymous User
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- Joined: Tue Aug 11, 2009 9:32 am
Joint Estate/Financial Planning Firm
What is the viability of of a solo practice as an estate planning attorney who also provides financial planning advice? I know some mid-sized planning firms offer both of these services, but I was wondering if doing both things as a solo (initially) could bring up any conflict of interests/liability issues. I keep seeing financial advisor as one of the most satisfying careers, and it seems like trusts & estates is quite fulfilling as well (according to previous posts on here). Any anecdotal experiences would be greatly appreciated, thanks.
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holdencaulfield
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Re: Joint Estate/Financial Planning Firm
What kind of financial planning advice are you referring to? Would you be investing money for clients or selling securities? If so, I would advise against it. Just the administrative task of keeping fees and funds separate sounds like a huge headache.Anonymous User wrote:What is the viability of of a solo practice as an estate planning attorney who also provides financial planning advice? I know some mid-sized planning firms offer both of these services, but I was wondering if doing both things as a solo (initially) could bring up any conflict of interests/liability issues. I keep seeing financial advisor as one of the most satisfying careers, and it seems like trusts & estates is quite fulfilling as well (according to previous posts on here). Any anecdotal experiences would be greatly appreciated, thanks.
More importantly, it just sounds sketchy.... My immediate reaction to hearing that an attorney also does financial planning would be suspicion.
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somewhatwayward
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Re: Joint Estate/Financial Planning Firm
Check out the ethics rules about operating a law practice and another business together. I don't remember the specifics, but there are restrictions on it.
