Current PFP News 


    Register for Essential Post-Mortem Planning Decisions with Steve Siegel (November 5, 1-2:45pm ET).

    AICPA

    PFP News

     

    Member-Exclusive News, Resources and Events

     

    October 22, 2014

    In This Issue

    Podcast: Retirement Income Strategies and Recent Research

    PFP Power Hour: Member Benefit Demo

    Video: Questions and Answers on The Affordable Care Act

    Tax Preparer to Financial Planner Series Begins Today!

    Unlimited Access to 500+ AICPA Webcasts with Annual Webcast Pass

    Two Recent Articles on PFP Standards and the PFP Conference

    Bob Veres Media Reviews: How to Blend Active and Passive Strategies for Better Outcomes

    CPA/PFS Corner: Where are YOU on the CPA/PFS Pathway?

    PFP Conference Corner: Expand your Conference Experience with Specialized Seminars

     

     

    PFP News & Resources

     

    Podcast: Retirement Income Strategies and Recent Research

     

    In this podcast, Michael Kitces discusses recent retirement planning research with respect to safe withdrawal rates, asset allocation glide paths and how to craft effective liquidation strategies for clients in retirement. Listen to this 12 minute podcast to get a glimpse of the research he's been working on with Dr. Wade Pfau.

    Stay tuned for in-depth webcasts in 2015 and materials that dive deeper into this research. Michael Kitces will also be presenting at the 2015 Advanced PFP Conference on safe withdrawal rates in retirement and how annuities fit into the equation; generating tax alpha with effective asset location; and as a part of the recent developments and best ideas panel. Register by December 5 and save $75 in addition to the AICPA and PFP/PFS member discounts.

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    PFP Power Hour: Member Benefit Demo

     

    For our 3rd quarter PFP Power Hour, the PFP staff walks you through an overview of your member benefits, as well as demonstrates how to navigate the PFP website and access our most popular content. Listen to the entire recording or jump to the section most relevant to you!

     

    (00:00) Welcome, About the PFP Section, Meet the PFP Staff

    (04:20) PFP Homepage and Member Benefits Grid; How to login, create or find user name and password and update member profile

    (08:00) Forefield Advisor

    (32:30) PFP News and Communications

    (37:10) Resources and Toolkits

    (39:30) Professional Responsibilities

    (41:30) Practice Guides/Online Professional Library

    (44:00) Learning Opportunities

    (46:05) CPA/PFS Program

    (48:50) How to Contact Us

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    Video: Questions and Answers on The Affordable Care Act

     

    In this video, Sidney Kess, CPA, J.D., LL.M. and two of the nation's leading authorities on the ACA, Vern Hoven, CPA and Sharon Kreider, CPA, discuss:

     

    An overview of the ACA, including the individual and employer mandates, penalties, and credits

    How technical corrections can be made to the law

    Where to buy insurance - including state exchanges and healthcare.gov

    Different tiers of plans (gold, bronze, etc.)

     

    Visit the AICPA's Health Care Reform Center and Forefield Advisor's Health Care Reform Resource Center (included with PFP/PFS membership) for advisor and client materials you can use in your practice.

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    Tax Preparer to Financial Planner Series Begins Today!

     

    This series kicks off today with a free webcast on understanding the value of personal financial planning. Invite your staff or colleagues who have an interest in building their planning knowledge.

    Many CPA financial planners added financial planning services to their tax practices because their clients asked questions that went beyond taxes, including educating children, transferring wealth, protecting assets, funding retirement, etc. These CPAs have built their financial planning practices off of their existing tax practices, and take an integrated approach in the delivery of financial planning services to ensure all of their clients' needs are met, including tax, estate, retirement, investments and insurance. The following steps will help you transition from tax preparer to financial planner:

     

    Step 1: Understanding The Value of Personal Financial Planning (free overview webcast today).

    Step 2: Moving From Tax Planning to Integrated Financial Planning for Individuals, Families And Business Owners (2-day virtual session with free overview session Oct. 29-30, 2014).

    Step 3: Implementing a PFP practice: A Plan for Success (live workshop on Jan. 17-18, 2015).

     

    Attend all or portions of this 3-part series to assist you in moving from tax return preparer to financial planner. Parts 1-2 of this series qualify for the AICPA Annual Webcast Pass.

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    Unlimited Access to 500+ AICPA Webcasts with Annual Webcast Pass

     

    Save more on CPE and get unlimited access to 500+ webcasts (including PFP webcasts!) with the AICPA Annual Webcast Pass. PFP/PFS members receive additional savings off the discounted AICPA member price. With an average of 40-50 PFP Section-hosted webcasts per year, your cost to attend and earn CPE on PFP events would average to be approximately $10-15 per event (the price per event decreases if you attend the Tax Preparer to Financial Planner series)! Take advantage of this incredible value! If you're not in need of CPE, continue to enjoy the PFP webcasts as part of your PFP/PFS member benefits, without CPE.

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    Two Recent Articles on PFP Standards and the PFP Conference

     

    Michael Kitces, Partner and Director of Research for Pinnacle Advisory Group, commentated on the recently released Statement on Standards in PFP Services and the upcoming 2015 AICPA Advanced PFP Conference in his blog, Nerd's Eye View.

    In "
    Introducing The Newest Fiduciary Standard For (Most CPA) Financial Planners," Kitces looks at the Statement on Standards in Personal Financial Planning Services, which became effective July 1. Kitces notes that, "the effective result of the new rules is (in most if not all states) an enforceable set of professional standards under state law. And for financial planners who want to claim that they're subject to the "highest standards" regarding the services they provide to their clients, the AICPA's new SSPFPS may represent a new highest bar in the profession…" A toolkit is available to determine the applicability of the standard and compliance with it.

    In "
    The 8 Best Conferences For Financial Advisors In 2015," Kitces reviews the 2015 financial adviser conference offerings and recommends "best in class" picks. Kitces writes that the AICPA Personal Financial Planning Conference has earned its spot as the premiere advanced technical content event for financial planners, with tracks on wealth management and tax, investment management, retirement planning, insurance and risk management, and practice management and technology, providing one of the broadest financial planning conference agendas of any industry event. Register by December 5 and save $75 in addition to the AICPA and PFP/PFS member discounts.

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    Bob Veres Media Reviews

     

    Bob Veres Media Reviews are designed to save you hours of reading time each month -- giving you time for more productive activities.

    Read Bob's write-ups of articles in October's
    Financial Advisor magazine including:

     

    "How to Stand Out" by Dan Jamiesen (marketing)

    "The Next Step" by Philip Palaveev (growth strategies for large firms)

    "Growth Through Synergy" by Roy Diliberto (mergers and acquisitions)

    "Going Mobile" by David Lawrence (mobile software)

    "Racing Ahead" by Joel Bruckenstein (tech progress for independent BDs)

    "Keeping It In-House" by Jeff Schlegel (firm profile)

    "Thinking Defense" by Eric Rasmussen (defensive alternative investments)

     

    Read Bob's write-ups of articles in October's Investment Advisor magazine including:

     

    "SEC's White: Fiduciary Rule Important, but Dodd-Frank, JOBS Mandates Come First" by Melanie Waddell

    "How to Blend Active and Passive Strategies for Better Outcomes" by Dan Kern

    "Show Your Value With Calculated Aggression" by Mark Tibergien

    "Run (Your Business) Like a Girl" by Angie Herbers

    "Saving Exploited Elders" by Olivia Mellan

    "What the USS Ronald Reagan Taught Me About Business" by Dan Skiles

    "The SEC and E-Signatures" by Tom Giachetti

    "The Case of the Resentful Successor" by Cam Marston

     

    Access other editions of media reviews, Inside Information and e-columns.

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    CPA/PFS Corner

     

     

    The fall/winter 2014 PFS exam will be offered December 15, 2014 - January 26, 2015. Learn more at aicpa.org/PFSexam.

    Where are YOU on the CPA/PFS Pathway?
    Whether new to personal financial planning or a seasoned professional, you can enhance your credibility, confidence and competence with the CPA/PFS credential! Here are the 3 steps you can take to distinguish your skills in tax, estate, retirement, risk management, and investment planning, enabling you to work knowledgeably and confidently with clients and other financial planning professionals.

     

    1

    Learn - Complete foundational learning and/or the PFP Boot Camp (November 2014)

    2

    Get Tested - Take the PFS exam (or an alternative exam) (Fall/Winter 2014)

    3

    Get Credentialed - Meet the remaining requirements and apply

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    PFP Conference Corner

     

     

    Expand your Conference Experience with Specialized Seminars
    Regardless of your career stage, enhance your knowledge by taking part in an
    in-depth seminar before the Advanced PFP Conference. It's a great way to join the PFP community and take your PFP business to a higher level.

    At the
    Implementing Personal Financial Planning Services Seminar, you will explore nine PFP business models and hear insights from successful CPAs who have built their practices to provide the highest value for their clients. In the Tax-Efficient Investing Seminar led by renowned expert Robert Keebler, you'll gain insight on how to optimize after-tax returns under the new tax regime, with strategies for every aspect of investing.

    Bundle and save! Attend the
    2015 Advanced Personal Financial Planning Conference and a preconference seminar for a reduced price. Take up to $175 off of the already reduced AICPA member price with the early bird discount and PFP/PFS member discount.

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    Other News

     

     

    Updated Medicare Open Enrollment Resources
    Because your clients' (or their parents') prescriptions and coverage change each year, you can save them both money and aggravation by helping them review their options during the 2015 Medicare prescription enrollment period running through December 7, 2014. Pay special attention to clients in a Medicare Advantage Plan. A handy checklist from James Sullivan, CPA/PFS, is provided to help you get started, as well as a client newsletter article and a recent Forefield alert to help you communicate these issues to your clients. Check out these updated resources and The CPA's Guide to Financing Retirement Healthcare.

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    Events

     

    Event recordings and materials are posted to aicpa.org/pfp/webcasts if you would like to listen again or if you are not able to attend the live event. Unless otherwise noted, PFP Section-sponsored webcasts are offered free without optional, discounted CPE for PFP/PFS members.

    Upcoming Webcasts:

    Next week! Washington Tax Brief
    October 29, 1-2pm ET
    Free | Discounted CPE

    Essential Post-Mortem Planning Decisions
    Part 4 of The CPA's Guide to Financial and Estate Planning Series
    November 5, 1-2:45pm ET
    Free | Discounted CPE

    CPA/PFS Perspectives: Addressing Client Life Insurance Questions in your Practice
    November 6, 1-2:45pm ET
    Free | Discounted CPE

    Year-End Financial and Tax Planning Strategies to Address ATRA, Net Investment Income Tax, and More
    November 10, 1-2:45pm ET
    Free | Discounted CPE

    CPA Financial Planning Thought Leadership: The Outlook for CPA Financial Planning Profession
    November 13, 1:30-2:30pm ET
    Free | Discounted CPE

    Investment Tax Planning - Creating Tax Alpha
    December 4, 1-2:45pm ET
    Free | Discounted CPE

    CPA/PFS Perspectives on the Next Generation of CPA Financial Planners
    December 16, 1-2:45pm ET
    Free to ALL | Discounted CPE

    Save the Date!
    Registration link will be available soon in PFP News.

    CPA Financial Planning Thought Leadership: Investment Planning
    November 12, 1-2:45pm ET
    Free to all without CPE; Optional, discounted CPE for PFP/PFS members.

    Series: From Tax Preparer to Financial Planner: The Road Best Traveled

    Step 1: Understanding the Value of Personal Financial Planning (Webcast)
    Register for Step 1 & 2 bundle or for each event separately.

    Today! From Client Tax Returns to Value-Added Financial Planning: How CPAs Can Get in the Game
    October 22, 1-2:45pm ET
    Free to ALL | Discounted CPE

    Step 2: Moving from Tax Planning to Integrated Financial Planning for Individuals, Families and Business Owners (2-Day Virtual Session)
    Register for Step 1 & 2 bundle or for each event separately.

    Next week! Overview: Expand Your Financial Planning Practice through Your Client's Tax Return
    October 29, 10:30am-12:15pm ET
    Free to ALL | Discounted CPE

    Next week! The Practical Side of Investment Planning
    October 29, 1-2:45pm ET
    Discounted CPE | Recording free to PFP/PFS members

    Next week! The Practical Side of Estate Planning
    October 29, 3-4:30pm ET
    Discounted CPE | Recording free to PFP/PFS members

    Next week! The Practical Side of Retirement Planning
    October 30, 10:30am-12pm ET
    Discounted CPE | Recording free to PFP/PFS members

    Next week! The Practical Side of Risk Management & Insurance Planning
    October 30, 12:30-2pm ET
    Discounted CPE | Recording free to PFP/PFS members

    Next week! Comprehensive Personal Financial Planning Case Study
    October 30, 2-4:30pm ET
    Discounted CPE | Recording free to PFP/PFS members

    Step 3: Implementing PFP Services: Step-by-Step Plans for Success (Live Session)
    January 17-18, 2015 at the Bellagio, Las Vegas
    Must be purchased separately from Step 1 & 2 bundle. See registration information below under "Upcoming Conferences."

    Upcoming Conferences:

    AICPA Sophisticated Tax Planning for Your Wealthy Clients
    November 17-18
    Loews Philadelphia Hotel
    Live | Virtual
    PFP/PFS members save an additional $100 on the AICPA member price.

    AICPA Advanced Personal Financial Planning Conference
    January 19-21, 2015
    Bellagio, Las Vegas
    Live | Virtual
    PFP/PFS members save an additional $100 on the early-bird and AICPA member discounts.

    Implementing PFP Services: Step-by-Step Plans for Success
    January 17-18, 2015
    Bellagio, Las Vegas
    2-day session only | Bundle with PFP Conference
    PFP/PFS members save an additional $100 on the AICPA member price.

    Tax Efficient Investing Seminar
    January 18, 2015
    Bellagio, Las Vegas
    1-day session only | Bundle with PFP Conference
    PFP/PFS members save an additional $100 on the AICPA member price.

     

    Contact Us

     

    Email the PFP Team: financialplanning@aicpa.org Visit our home page: aicpa.org/pfp

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