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Regulatory and Statutory Issues

Regulatory and Statutory Issues 

Personal financial planning ( PFP) is not regulated as a practice area in and of itself. However, because PFP involves providing advice in many diverse areas of your clients' lives, you face a daily barrage of regulatory and statutory issues.

Federal and state tax laws and state property and inheritance laws impact the recommendations you develop for your clients. You must be cautious in many areas, especially in estate planning, not to violate state law prohibitions against the unauthorized practice of law. In addition, if your practice involves insurance or investment planning advice, you face compliance with investment adviser regulations and state insurance regulators.

These are the more significant ways in which regulatory and statutory issues can affect your daily practice. Continue to find out more about the many issues that impact you and your practice.

Are You Providing Investment Advice?

Whether you believe you are in the business of providing investment advice or not, all advisors should be educated on how the SEC defines investment advice.

 

Guiding the RIA through the Regulatory Minefield

View a video clip from the 2008 Advanced PFP Conference featuring Michael Goodman, CPA/PFS.

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AICPACPAsGuidetoInvestmentAdviserRegistration.pdf

Guide :  The purpose of this Guide is to assist AICPA members in understanding the regulatory provisions that are applicable to investment advisers under the Investment Advisers Act of 1940 and similar laws adopted by the various States.
Published on March 14, 2011

Regulatory and Statutory Issues

Video :  Personal financial planning (PFP) is not regulated as a practice area in and of itself. However, because PFP involves providing advice in many diverse areas of your clients' lives, you face a daily barrage of regulatory and statutory issues.
Published on September 23, 2010

The CPAs Guide to Regulatory Issues in a PFP Practice

Guide :  CPAs who are providing personal financial services (including tax, estate, retirement, investment and/or insurance planning) to their clients are in an optimal position to add investment advisory services to their business. Surveys show that CPAs are ranked among the most trusted advisers. They put their client’s interest first when providing
Published on March 03, 2010

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