Phyllis Bernstein, CPA<sup>®</sup>/PFS<sup>®</sup>
Phyllis Bernstein, CPA®/PFS®
Phyllis Bernstein Consulting, Inc.
2 Penn Plaza, 4th Floor
New York, NY 10021
PHONE: (646) 221-4983
Phyllis Bernstein, CPA®/PFS®, is president of Phyllis Bernstein Consulting, Inc., the advisor for CPA® financial planners. Phyllis is a consultant to CPA® firms in expanding into financial planning and investment advising services. She also consults to financial service firms on how to structure alliances and work with CPAs.
Accounting Todayrecognized heras one of the top 100 most influential people in accounting for the past five years and as one of the top ten names to know in financial planning for the past four years. She was chosen by the readers of Financial Planning magazine as a mover, shaker and decision maker in 2002.
Phyllis has spoken nationally and published many articles on financial planning topics. She is frequently quoted in the national trade and consumer press on the CPA®’s role in financial planning. She is a member the advisory boards of CPA® Financial Services Advisor, The Fee-Only Client Newsletter, Personal Financial Planning Monthly, the Journal of Accountancy andThe Tax Advisor. She is a vice-president of the All-Star Financial Group, which is an affinity group of CPA® Planners. She belongs to the Financial Planning Association and serves on the AICPA®’s PFP Legislation and Regulation Task Force and as the New York State PFS® Champion. She was an invited panelist at the SEC’s recent roundtable on Investment Advisory Issues and served on the North American Securities Administrators Association's Financial Planners and Investment Advisers Industry Committee.
She recently co-authored the second edition of the book Financial Planning for CPAs, by Wiley. She is the author of an AICPA® client booklet, Accumulating Wealth: An Investing Primer and co-author of an AICPA® client booklet with Stephen Leimberg, Settling and Estate: Understanding Probate and Estate Administration. She also is writing the third revision of the AICPA®’s Guide to Registering as an Investment Adviser. She just co-authored a book on Managing Client Expectations in Investment Advisory Relationships to be published by the AICPA® this year.
In 1997, she received the AICPA® PFP Division Distinguished Service Award, which is the highest honor given to a CPA® who has served the public interest in enhancing the quality of PFP services. This was the only time the award was given to a member of the AICPA® staff.
Ms. Bernstein was the Director of Personal Financial Planning (PFP) for the American Institute of CPAs from 1991 to 2001, where she was responsible for the work of the PFP Team. She published a bimonthly newsletter, Planner, and an annual edition of thePersonal Financial Planning Practice Handbook. She worked with the PFP Executive Committee and created and directed the PFP Membership Section and Personal Financial Specialist Designation Program. She organized and structured the Center for Investment Advisory Services in 2000. The PFP Executive Committee is a senior technical committee authorized to speak about PFP practice on behalf of the profession and responsible for issuing Statements on Responsibilities in PFP Practice. She staffed the AICPA® PFP Membership Section since its inception, in 1986.
Before joining the Institute, Phyllis was a manager for RCA Corporation, responsible for the audits of CIT Financial and Hertz Corporation. She holds a Bachelor of Business Administration from Hofstra University, where she was a charter member of Beta Alpha Psi.
Phyllis was a member of CCH Financial and Estate Planning Advisory Board and now serves on its emeritus advisory board. She is active in the Jewish Federation of Central New Jersey, where she sits on the Foundation and chairs its Investment Committee. She was on the Young Leadership Cabinet of the United Jewish Appeal for six years and has served as sisterhood president of Temple Israel in Scotch Plains, NJ.
Ms. Bernstein lives in Westfield, NJ with her husband, who is the managing partner of a CPA® firm in New York City.