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Empowering Future Firm Leaders

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  Member-Exclusive News, Resources and Events  
September 13, 2017
In This Issue
Broadridge Alert: Rising Rates, ABLE Accounts and Social Security
Podcast: CRT Can Own Endowment Units Deduction
Podcast: Advising Clients on IRC 831(b) Captives
Resources for Helping Clients Impacted by Disaster
NEXT WEEK! Free CPE Webcast: Planning for the 99%
Bob Veres Media Reviews: A Steep Price for Medicare
T3 Technology Hub News: Redtail's Improved Mobil App
Article: Empowering Future Firm Leaders
Sophisticated Tax Planning for your Wealthy Clients
CPA/PFS Corner: Just Around the Corner: Take the PFS Exam
Other News: : Podcast: Failure to Supply Basis Nixes Charitable Deduction; Leg/Reg: DOL Seeks Input on Fiduciary Rule Implementation Delay; Bob Veres Inside Information: The Awful Consequences of Non-Fiduciary Advice; Make the Most of Your Benefits and Navigate the PFP Section Website; Article: Are You Overlooking Potential Clients?
PFP News & Resources
Broadridge Alert: Rising Rates, ALBE Accounts and Social Security
  Broadridge Advisor has just announced three new concept pieces and three new concept videos for you to share with clients and prospects. To learn more about Broadridge and watch introductory videos which explain how to use the tool, click here.
Rising Rates: Strategies for Managing Bond Risks—help investors understand how their fixed-income investments may behave in a rising-interest-rate environment
Back to Basics: Diversification and Asset Allocation—give a refresher on the potential benefits of these two important investment strategies. The article includes a table comparing how different asset classes have performed over the past 20 years.
Planning for the Future with an ABLE Account—explain how these tax-advantaged accounts can help disabled people and their family members save and invest for qualified disability expenses.
Leaving Your Employer? Don't Forget Your Retirement Savings Plan—provide an overview of the four options individuals have for managing their retirement savings plan assets when leaving their employer, including some of the key advantages and disadvantages associated with each option.
The Basics of Social Security Retirement Benefits—answer the question, "How much will I receive from Social Security in retirement?" It describes how benefits are calculated, how an individual's age can affect benefit amounts, and where viewers can go for more personalized and specific information.
Low Volatility: Calm Before the Storm?look at several key factors that have helped calm the markets and considers the potential for future volatility.
Podcast: CRT Can Own Endowment Units
  In PLR 201729014, the IRS ruled favorably on a plan to exchange investment assets of a charitable remainder trust for units in the endowment of a charitable beneficiary, Bob Keebler, CPA/PFS, reports. The text of the ruling can be found here and the podcast here, courtesy of Leimberg Information Services Inc.
Podcast: Advising Clients on IRC 831(b) Captives
  In this podcast, Bob Keebler, CPA/PFS, interviews Jay Adkisson regarding the case Avrahami v. Commissioner, in which the tax court ruled in favor of the IRS regarding IRC 831(b) tax shelter captives. You will learn:
The basics and purpose of a captive insurance company
Why this case is an important precedent
The effect of the decision on other similar tax court cases
How you should advise clients with similar arrangements to approach captives in a safe way
  Read this article by Jay Adkisson for background on the case and the tax court’s decision.
Resources for Helping Clients Impacted by Disaster
  For practitioners who have clients or firms impacted by Hurricanes Harvey and Irma, there are several resources available to help:
Casualty Loss Practice Guide - assist practitioners in dealing with certain tax problems that arise when a client is affected by a natural disaster, courtesy of the AICPA Tax Section
Disasters and Taxes - Understanding Tax Relief for Disaster Victims Webcast - expert Jerry Schreiber, CPA, discusses tax relief for individuals and businesses, courtesy of the AICPA Tax Section
Relief for Hurricane Harvey Victims Podcast - Bob Keebler, CPA/PFS, interviews Jerry Schreiber, CPA, on the tax aspects of hurricane losses
Retirement Plan Withdrawal Options for Hurricane Harvey Victims Podcast- Bob Keebler, CPA/PFS, discusses retirement plan participant withdrawal exceptions, courtesy of Leimberg Information Services Inc.
NEXT WEEK! Free CPE Webcast: Planning for the 99%
  In this FREE CPE webcast, expert Steve Siegel will look at how the current tax rules and latest developments affect clients with small and mid-sized estates.  Despite high exclusion amounts, there are many estate planning considerations like portability, income tax considerations and asset protection concerns that make “simple” planning a risk for many clients.  As a PFP/PFS Section member, you can always access the recorded webcast shortly after the event in the learning library (*note: recordings not CPE eligible). The event will take place on September 20th from 1-2:30pm ET. Register today. 
Bob Veres Media Reviews: A Steep Price for Medicare
  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 September’s Financial Planning magazine, including those rated with high relevance:
“Look for That Silver Lining” (losing a client or staff person) by Dave Grant
“Rethinking Compensation” by Kelli Cruz
“A Steep Price for Medicare” by Don Korn
“Fewer Regrets, Better Retirement” by Carolyn McClanahan
“Avoid IRA-Related Tax Traps” by Ed Slott
“Social Security & Billy Joel” by Patricia Burris
  Access other editions of media reviews, Inside Information and e-columns.
T3 Technology Hub News: Redtail's Improved Mobil App
  T3 Technology News is designed to provide you with insight and all the latest news on technology for financial advisors plus in-depth reporting on financial services technology. The latest edition of the T3 newsletter includes the following articles:
Redtail’s Improved Mobile App Aims to Impress
Wealth Access Launches Business Intelligence Platform
FinFolio Launches, an API for Wealth Management
  To receive the newsletter directly, subscribe here
Article: Empowering Future Firm Leaders
  The next generation within the profession represent the best hope for the lasting growth of the firms they serve. But first, current firm leaders and principals must learn how best to empower and allow these rising stars the freedom they need in order to learn by doing.  Learn more in this article by Philip Palaveev on empowering future firm leaders. For more information on this topic, don’t miss the 2018 Personal Financial Planning Summit in January, an incredibly unique gathering of the professions brightest minds and forward-thinking financial planners.  Hear from highly sought-after speakers including: Cheryl Holland, Mark Tibergien, Tracey Beckes and Philip Palaveev.  Grow deeper during the special fireside chats and the intentional networking and activity time all while staying at the luxurious seaside Terrenea Resort along the southern California coast.
Sophisticated Tax Planning for Your Wealthy Clients Leaders
  Join the AICPA on November 13-14 in Boston for the Sophisticated Tax Planning conference. The AICPA Sophisticated Tax Planning for Your Wealthy Clients offers two days of focused learning, so you can bolster your advisory services during uncertain times with personal financial planning sessions including:
The Future of Services to Individuals
Tax Aware Investing
Elder Planning: The CPA’s Role
CPA/PFS Corner
  Just Around the Corner: Take the PFS Exam
Are you ready to sit for the PFS Exam?  There are many review options, so select what fits your schedule and learning style.  First, register today for the fall PFS Exam window (November 15-December 15) with a 25% early bird discount. Then review for the exam:
In-person PFP Boot Camp (November 1-3, Atlanta, GA)
Online PFP Boot Camp (October 23 - November 13, 2017)
On-demand self-study PFP Boot Camp (Anytime)
Printed and online: Practice Questions - PFS Exam Review Material
Other News
  Leg/Reg: DOL Seeks Input on Fiduciary Rule Implementation Delay
On Thursday, September 1, the US Department of Labor proposed the extension of the transition period for implementing the DOL Fiduciary Rule.  The extension would postpone the final implementation phase to July 1, 2019 along with potential other delays and modifications. The DOL is seeking comments over a 15-day period. 

Bob Veres Inside Information: The Awful Consequences of Non-Fiduciary Advice
The latest edition of Inside Information* from Bob Veres includes stories like “The Awful Consequences of Non-Fiduciary Advice.” *Access to Inside Information is a benefit of PFP/PFS membership, which is an individual membership. If your colleagues would like access to this newsletter service, they can either purchase directly from Bob Veres or sign up for PFP membership.

Make the Most of Your Benefits and Navigate the PFP Section Website
Make the most of your PFP Section membership!  Take a look at this video series created by the AICPA PFP team which will help you find technical resources, understand how to navigate the PFP Section website and gain an understanding of your PFP Section benefits. 

Article: Are You Overlooking Potential Clients?
There’s a massive shift in intergenerational wealth underway. The recipients have a very different outlook on work, life and retirement than the previous generation. They’re not interested in traditional advice models, yet they represent a huge potential client base. Meet millennials. What makes them tick? How can you serve them? Learn more in this article by Mark Astrinos, CPA/PFS, which includes access to a free recorded webinar on the subject to further your knowledge on the topic.
PFP Section-hosted webcast recordings and materials are available as part of your PFP/PFS membership and are posted to if you would like to listen again or if you are not able to attend the live event.

Conference recordings are available at no charge to conference attendees or for purchase to those who weren't able to attend. Recordings from past conferences are available at here.

Upcoming PFP Section-Hosted Webcasts:

Watch PFP News for registration links for upcoming events!

NEXT WEEK! Planning for the 99% - What to Tell Our Clients
Sept 20 from 1-2:45pm ET
Free with CPE.

The Crazy World of Health Care - Planning for Changes in the ACA
September 27 from 1-2:15pm ET
Discounted CPE.

Portability: An Estate Planning Game-Changer
October 18 from 1-2:45pm ET
Discounted CPE.

Critical IRA Planning Issues
October 24, 1-2:45pm ET
Discounted CPE.

Asset Protection Planning
November 1 from 1-2:45pm ET
Discounted CPE.

Proactive Year-End Planning
November 2 from 1-2:45pm ET
Discounted CPE.

Business Succession Planning
November 27 from 1-2:45pm ET
Discounted CPE.

Other Webcasts:

Tax Reform: Is it Still Possible?
October 18 from 1-2pm ET
Discounted CPE.
Use Code: PFPEVENT10

Upcoming Conferences:

Personal Financial Planning Summit
January 8 - 10, 2018
Discounted CPE.

Advanced Personal Financial Planning Conference @ENGAGE
June 2018
Discounted CPE.

Other Upcoming Conferences:

Sophisticated Tax Planning for Your Wealthy Clients
November 13-14, 2017
Discounted CPE.

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