March 23, 2007

Local CPA earns personal financial specialist credential

Evergreen’s Miguel A. Palma, of Palma Financial Services of San Jose, has been awarded the Personal Financial Specialist (PFS) credential by the American Institute of Certified Public Accountants (AICPA).

The PFS credential, established in 1987 by the AICPA, recognizes CPAs with considerable professional experience in financial planning. Currently, more than 3,400 CPAs hold the PFS credential nationwide.

Palma met the requirements to earn the credential, including passing a technical exam covering personal financial planning topics. In addition, Palma completed over 1,000 hours of business experience during the past five years and over 75 lifelong learning activities. All PFS candidates must hold a valid CPA certificate and be an AICPA member in good standing.

Miguel A. Palma

“Given their formal education and technical training in the areas of accountancy, taxation and general business, CPAs are the most qualified, knowledgeable and objective financial planning professionals,” said Laurence Foster, chairman of the AICPA’s Personal Financial Specialist Credential Committee of the Member Innovation Team and a PFS himself. “Supplementing this background with the PFS credential demonstrates a CPA’s commitment to providing consumers the highest level of financial planning services.”

CPAs who have earned the PFS credential must be re-certified every three years to maintain the credential. The AICPA is the national professional association of CPAs with more than 350,000 members in public practice, industry, government and education.