13 Feb Should my accountant and financial planner work together?

Q. Is there a best practice for choosing an accountant? Does it matter if they work with your financial planner? I wonder if it makes sense for them to work together or if it’s better to have two totally separate people to run questions past.
— Looking for help

A. It’s a terrific question.

The people you hire to manage different parts of your finances should share their goals for you, right?

A quick conversation between your financial planner and accountant can prevent costly mistakes and potentially uncover planning opportunities that might otherwise be overlooked, said Howard Milove, a wealth advisor with Access Wealth in East Hanover.

“I’m a big believer that it’s beneficial when advisors communicate with one another,” he said.

Your financial life isn’t divided into neat little boxes, he said. Tax planning affects investment strategy. Cash flow decisions impact retirement planning. Estate planning can influence how assets are invested and titled.

“When advisors work in isolation, important details can be missed,” he said.

He used his firm as an example. Many of the financial planners are also certified public accountants and personal financial specialists.

“That dual perspective allows us to confidently weigh in on tax planning, cash flow management, and budgeting, in addition to comprehensive financial planning and investment management,” he said. “Even so, we still value collaboration. A client’s long-time accountant may know nuances about their business or family situation that are incredibly important. The goal isn’t to replace anyone — it’s to collaborate for the client’s benefit.”

As for choosing an accountant or any trusted professional, Milove offered a few best practices.

Start by asking for referrals from people you trust. Personal recommendations can provide insight into how someone communicates and whether they are proactive, he said.

Next, do some online research.

“Review their credentials, areas of specialization, and philosophy. For example, is the accountant primarily compliance-focused, or do they emphasize proactive planning?” he said. “Is the financial planner affiliated with a brokerage firm, or do they provide independent investment advice and holistic planning across the different phases of your life?”

Finally, he said, schedule a meeting.

“The relationship matters. You should feel comfortable asking questions and confident that your advisor understands your goals,” he said. “This applies not only to accountants, but also to financial planners, attorneys, and anyone you plan to rely on for financial or legal advice.”

Your advisors don’t have to share an office, but they should share information, he said.

“When they do, you’re far more likely to receive well-coordinated, strategic guidance that truly serves your long-term interests,” Milove said.

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This story was originally published in February 2026. 

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.