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CPA FINANCIAL PLANNERS' POLL REVEALS CLIENT CONCERNS ON THE ECONOMY

 SAN DIEGO, Jan. 13 /PRNewswire/ -- A poll of CPA financial planners and their perceptions of their clients' outlook on the economy yielded interesting results on several financial fronts just one week before the start of President-elect Bill Clinton's administration.
 The poll was conducted at this week's Sixth Annual Personal Financing Planning (PFP) conference of the American Institute of Certified Public Accountants (AICPA). More than 150 CPAs with financial planning backgrounds answered questions which ranged from the level of financial concern to where those concerns lie.
 The poll was a part of the three-day conference sponsored by the 7,000-member PFP Division which is being held in San Diego for the first time. The conference examines the latest information available on dozens of financial planning topics including creating and preserving wealth, retirement planning, fixed-income investing, and education funding.
 Results of the poll are based on 151 CPA financial planners who participated. Those polled were not required to provide an answer for each question. The results follow:
 AICPA Personal Financial Planning Poll
 (Results rounded to the nearest percentage point)
 1. How would you rate the concern level among your clients in regard to their personal finances in light of the new presidential administration?
 Percent Responding Respondents
 20 pct very concerned (31)
 41 pct concerned (62)
 30 pct somewhat (45)
 8 pct little concern (12)
 1 pct no concern at all (1)
 2. Which personal financial area has drawn the most interest since the election?
 Percent Responding Respondents
 4 pct debt retirement (5)
 1 pct education funding (1)
 3 pct employee benefits (4)
 25 pct estate planning (33)
 14 pct health care costs (19)
 37 pct income tax planning (50)
 4 pct investment planning (6)
 8 pct retirement planning (11)
 0 pct risk management planning (0)
 4 pct other (5)
 3. What is the most important concern that your clients have about their personal finances in the 1990s?
 Percent Responding Respondents
 38 pct Income taxes will take a larger
 portion of their income. (58)
 24 pct They won't be able to reach
 their retirement. (36)
 1 pct More career changes and interruptions
 will disrupt their income. (2)
 13 pct Concerns about volatility of
 investment markets. (20)
 13 pct Estate taxes will greatly reduce
 the amount of assets they can pass
 along to heirs. (20)
 6 pct The cost of educating their children (9)
 4 pct Other (6)
 4. How would you term the amount of people seeking out financial planners over the past year?
 Percent Responding Respondents
 10 pct significant increase (30)
 73 pct moderate increase (101)
 16 pct no increase/decrease (22)
 1 pct moderate decrease (2)
 0 pct significant decrease (0)
 5. In general, what proportion of their gross income do your clients save?
 Percent Responding Respondents
 22 pct 0-4 percent (30)
 31 pct 5-9 percent (42)
 35 pct 10-14 percent (48)
 7 pct 15-19 percent (10)
 4 pct 20-24 percent (6)
 1 pct other (1)
 6. What is the minimum proportion of gross income that the average consumer should save?
 Percent Responding Respondents
 2 pct 0-4 percent (2)
 17 pct 5-9 percent (21)
 60 pct 10-14 percent (73)
 17 pct 15-19 percent (21)
 3 pct 20-24 percent (4)
 1 pct other (1)
 The AICPA is the national, professional association of CPAs with more than 310,000 members in public practice, industry, government and education.
 -0- 1/13/93
 /NOTE TO EDITORS: Interviews on this survey are available from the conference in San Diego this week. Please contact Steve Greene or Sally Robinson at 619-424-4440 or -4000 or Brian Salisbury in New York at 212-596-6108/
 /CONTACT: Steve Greene, 619-424-4440, or Brian Salisbury, 212-596-6108, both of AICPA/


CO: American Institute of Certified Public Accountants ST: New York IN: FIN SU: ECO

GK-WO -- NY034 -- 4413 01/13/93 13:09 EST
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Date:Jan 13, 1993
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