I.L. "Lonnie" Morris, CPA

I.L. “Lonnie” Morris, CPA historically served individuals who were clients of his CPA practice by acting as an investment adviser limited to solicitor activities; the firm is registered in that capacity but currently reports no active investment clients and the sole proprietor is retired and receives residual solicitor payments. Its advisory role was narrow and tied to the firm’s existing tax-practice client base rather than a separate solicitation effort.

The firm did not provide investment recommendations, manage client assets, accept custody, or exercise investment discretion; instead it matched clients with independent “financial planner/stock broker” firms and sought to help clients understand different investment vehicles without opining on their appropriateness. With client written permission the adviser occasionally communicated with the client’s financial planner on tax-related matters such as tax brackets, capital loss carryovers, and passive loss carryovers.

This firm’s background as a longstanding public CPA practice that merged with Harvey & Tully PC and remains affiliated with an accounting firm distinguishes it from most investment-manager firms. It also operated via wrap-fee/solicitor compensation arrangements and selected other advisers for clients rather than charging percentage-of-assets-under-management fees, a combination that is atypical for firms in this category.