CPAs are top choice for small business. (News & Trends).

Small business owners overwhelmingly choose CPAs over other financial professionals for their personal and business matters, but tend to use different individuals for each, according to a new study by Nationwide Financial, a distributor of retirement planning products.

Just more than half of small business employers surveyed reported that they frequently use CPAs, followed by bankers with 12 percent.

For personal financial matters CPAs also lead, with 28 percent of small business owners reporting they use CPAs, followed by financial planners with 15 percent.

However, the survey also found that only 40 percent of small business owners use the same professional for both personal and business matters.

The survey was conducted by Greenwald & Associates, a Washington D.C.-based, independent public opinion polling firm. The firm surveyed 730 business owners and decision makers from businesses with 25 to 200 employees.