Broker Check
David J. Scafa, CPA, PFS

Dave has over 30 years experience in the financial services industry. A graduate of Baruch College of the City University of New York, Dave started building his accounting practice upon graduation in 1980 while working full time.

His first stop was with American Ballet Theatre (ABT) where he was responsible for the accounting department. At ABT he developed and designed their first automated accounting system. In 1985, he was hired by the New York City Comptroller to oversee the first time Generally Accepted Accounting Principles (GAAP) audits of the City’s five major retirement systems. New York City was just coming out of its much publicized fiscal crisis. The audit of the retirement systems for inclusion in New York City’s Comprehensive Annual Report was the last piece of the puzzle necessary for the City to receive a “clean” audit opinion from their independent CPA auditors. During this time Dave was also responsible for the accounting of the City’s $70 billion dollar plus pension portfolio. This is where he obtained a great deal of knowledge about managing investment portfolios. The same time tested strategies of managing a large public pension fund portfolio are incorporated into our clients’ portfolios.

In 1990, Dave was promoted to Deputy Chief Accountant of New York City where his responsibilities were broadened to include the City’s accounting and issuance of their Comprehensive Annual Financial Report. By 1996, the goal of managing his own CPA practice full time was realized. He was aware that no advisor understood clients’ fiscal goals and dreams better than their CPA. To meet this challenge, he added financial services to his practice in 1999. With a growing CPA and financial services practice, Dave and his wife Liz merged their businesses in 2004 and now offer a full range of financial services. They pride themselves on the commitment to excellence each day and the faith and trust their clients place in them.

Dave is a Certified Public Accountant and a Personal Financial Specialist. He is insurance licensed in life, accident and health, variable annuities, and variable life, and holds the Series 7 and 63 securities licenses, and is an Investment Advisor Representative.

He is a member of the New York State Society of Certified Public Accountants, the American Institute of Certified Public Accountants and the Mercer County Estate Planning Council.

 

Investment and financial planning services are offered by David Scafa through his affiliation with Avantax .