Navigating Wealth How High Net Worth Individuals Spend Their Money ft. Long Angle's 2025 Survey | Navigating Wealth
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Dec 10, 2025 Discover intriguing insights from a recent survey revealing that 20% of high net worth individuals don’t use CPAs, with 42% considering switching. The disparity in satisfaction between personal trainers and personal assistants is eye-opening, as trainers score 9.3 while assistants sit at 6.7. Explore the debate between AUM and fee-based wealth management models, along with the steep variation in estate planning costs. The hosts also navigate the future of family office services and the challenge of finding quality personal trainers.
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Many File Taxes Without A CPA
- About 20% of high-net-worth respondents file taxes without a CPA, often because returns can be simple or handled by software.
- Nearly 42% are considering switching CPAs due to service quality, responsiveness, or opaque pricing.
Dissatisfaction Is About Service, Not Just Cost
- Dissatisfaction with CPAs often stems from responsiveness and perceived lack of strategic counsel rather than price alone.
- Some clients shoot the messenger, blaming CPAs for high taxes even when limited options exist.
Set CPA Expectations Up Front
- Clarify expectations with your CPA up front about whether you want strategic tax planning or just return preparation.
- Ask explicitly what services are included to avoid surprises about scope and fees.