Current PFP News 


AICPA
Video Podcast: Mastering Regulatory Examinations

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AICPA PFP News
  Member-Exclusive News, Resources and Events  
August 16, 2017
In This Issue
New Model Accounting Curriculum and University Program in Personal Financial Planning
Video Podcast: Mastering Regulatory Examinations
Bob Veres Media Reviews: The Price for Advice is Changing
Bob Veres Inside Information: Collaborative Allocation
Benefit Spotlight: Life Events Resource Center as part of Broadridge Advisor
Benefit Reminder! 2017 Advanced PFP and Other ENGAGE Conference Recordings Available
CPA/PFS Corner: Volunteer Opportunities for PFS Exam Development; In-Person PFP Boot Camp - Atlanta GA, Nov 1-3
Other News: 2018 PFP Summit: Where Inspiration Leads to Impact; Podcast: Roth Conversions by Asset Class; Bob Veres Inside Information: Planning for Health and Longevity; Leg/Reg: AICPA Comments on Simplifying Our Broken Tax Code and Reducing Tax Regulatory Burdens; T3 Technology Hub News: The Key to Upgrades Done Right; Bob Veres Request: The Value of Fixing Predatory Mistakes
PFP News & Resources
New Model Accounting Curriculum and University Program in Personal Financial Planning
  The AICPA PFP Division is working to build the next generation of CPA financial planners through the launch of a new university financial planning program geared toward accounting students. This week, the AICPA announced higher-education programs that align with the PFP Body of Knowledge  and support the PFS credential  pathway. These programs are geared toward accounting students who are on the pathway to becoming a CPA.

Additionally, the AICPA recently launched its Model PFP Curriculum  (MPFPC) as a resource for accounting educators seeking to develop or modify accounting programs or course offerings in order to best prepare students to enter the accounting profession. The primary objective of the MPFPC is that students understand the role personal financial planning plays in serving individual clients by building a foundation for future learning in PFP.

You can get involved with our grassroots effort by reaching out to local universities or alma maters. Contact the Sarah Bradley on the PFP team at financialplanning@aicpa.org for more information and materials to assist you with your outreach.
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Video Podcast: Mastering Regulatory Examinations
  Regardless of if or when your registered investment advisory firm is selected to be examined, there are some important steps to take to ensure compliance and protect the best interest of the public. In this 35-minute video podcast (slides ), Ellen Bruno, CPA/PFS, goes in-depth into SEC and state regulatory examinations, including:
 
The current landscape
Purpose and scope
Preparation and management
Focus and common deficiencies
Possible exam outcomes
  For more information investment adviser registration, refer to The CPA’s Guide to Investment Advisory Business Models.
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Bob Veres Media Reviews: The Price for Advice is Changing
  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 August’s Investment Advisor magazine, including those rated with high relevance:
 
“The Price for Advice is Changing” by Mark Tibergien
“Talkin’ ‘Bout My Generation” by Angie Herbers
“BDs Address Fiduciary Rule, Growth Challenges” by Janet Levaux
  “Performance vs. Tenure - A Lesson in Employee Evaluation” by Caleb Brown
“How Artificial Intelligence Might Help Advisors” by Dan Skiles
“The DOL Fiduciary Rule: Implementation and Level-Fee Fiduciaries” by Tom Giachetti
  Access other editions of media reviews, Inside Information and e-columns.
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Bob Veres Inside Information: Collaborative Allocation
  The latest article in Inside Information* from Bob Veres features Collaborative Allocation, which introduces a terrific new online tool: Gibson Capital Management’s MAC Portfolio Simulator, a free tool that lets you show clients the consequences of investing in different asset allocations. *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 .
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Benefit Spotlight: Life Events Resource Center as part of Broadridge Advisor
  Do you have clients who have lost a spouse, are starting a business or are planning their estate? Broadridge Advisor (a $499 annual value, FREE with your AICPA PFP Section membership) has a robust resource center with hundreds of client-friendly, ready-to-use materials that you can use to steer conversations and advice delivered to clients going through change.  Here are a few examples of the tools available to you:
 
Loss of a Spouse Checklist
Estate Planning Basics Materials
Choosing an Entity for Your Business Concept Piece
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Benefit Reminder! 2017 Advanced PFP and Other ENGAGE Conference Recordings Available
  For those who attended the Advanced PFP and other conferences at ENGAGE (both in-person and online), you can now access the recordings of the sessions offered with your registration. Visit www.AICPAConferences.com and login to your account; locate the session(s) you’d like to review by clicking the "Archives" tab under "My Account."  Registration is now open for the 2018 Advanced PFP Conference, part of ENGAGE, in June. PFP/PFS members save an additional $100 on the super early bird AICPA member price.  For conference registrations inquiries, questions about your CPE credit, please contact the AICPA Member Service Team at 888.777.7077 or email service@aicpa.org .
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CPA/PFS Corner
  Volunteer Opportunities for PFS Exam Development
There are multiple openings on the PFS Exam Technical Review Task Force. This group writes and reviews the questions for the PFS Exam databank for future exams. We provide the training, and you provide the technical expertise. If you have expertise in specific areas of the PFS Body of Knowledge, such as tax, retirement, insurance, investments, estate/charitable planning, executive compensation/employee benefits, elder or education planning, and have an interest in making a difference in the future of our profession, email us at financialplanning@aicpa.org.

In-Person PFP Boot Camp - Atlanta GA, Nov 1-3
There are multiple review options for the Fall 2017 PFS Exam , open from November 15-December 15, 2017.  Take advantage of the early-bird 25% discounted exam pricing.
 
Online PFP Boot Camp (October 23 - November 13 2017, dates to be announced)
NEW! In-person PFP Boot Camp (November 1-3, Atlanta, GA)
On-demand self-study PFP Boot Camp (Anytime)
Printed and Online:  Practice Questions - PFS Exam Review Material
  Need something more in-depth?  Stay tuned for new in-depth on-demand self-study CPE options this fall.  Also, The American College textbooks on each major topic are available on the PFP Resource page at the AICPA Store.  Email us at financialplanning@aicpa.org with any questions on the CPA/PFS program.
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Other News
  2018 PFP Summit: Where Inspiration Leads to Impact
Don’t miss this incredibly unique gathering of the professions brightest minds and forward-thinking financial planners at the 2018 Personal Financial Planning Summit in January.  Connect on a personal and professional level with influential practice and profession leaders who are looking to challenge conventional thinking and shape future legacy.  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.

Podcast: Roth Conversions by Asset Class
Implementing Roth conversions by asset class is an increasingly popular planning strategy. In this podcast , Bob Keebler, CPA/PFS, shares how this strategy works and situations where it would be an effective strategy for clients.

Bob Veres Inside Information: Planning for Health and Longevity
The latest article in Inside Information * from Bob Veres features Planning for Health and Longevity, in which a new software toolkit, Wealthcare Planning, is introduced to help address client end-of-life and planning issues.  *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.

Leg/Reg: AICPA Comments on Simplifying Our Broken Tax Code and Reducing Tax Regulatory Burdens
On August 1, the AICPA submitted written testimony and proposals for the Hearing on “How Tax Reform Will Simplify Our Broken Tax Code and Help Individuals and Families.”  Read the entire submission here

On August 2, the AICPA submitted recommendations for modification or repeal of four of the identified regulations in the Executive Order 13789 issued by President Trump in April Identifying and Reducing Tax Regulatory Burdens.  One of the recommendations asks the IRS to entirely withdraw proposed section 2704 regulations.  Read more in the comment letter.

T3 Technology Hub News: The Key to Upgrades Done Right
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 is available which includes articles like Technology Champions are Key to Upgrades Done Right and Marketing Your Financial Services Firm in the Age of Robos .  To read the entire newsletter, visit the T3 Technology Hub home page and click on July Archives.  To receive the newsletter directly, subscribe here

Bob Veres Request: The Value of Fixing Predatory Mistakes
In a recent interview, Bob came to the realization of yet another value that financial planners bring to a client relationship: fixing predatory mistakes.  Often, clients have listened to the advice of their broker or agent one too many times that require your expertise to “fix.”  Bob is hoping to collect as many stories as possible using this as evidence that a fiduciary standard might have some consumer protection merit.  Maybe you could even share some of this material with clients and prospects!  Email Bob with your story at bob@bobveres.com .
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Events
PFP Section-sponsored webcast recordings and materials are available as part of your PFP/PFS membership and are posted to aicpa.org/pfp/library 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 www.AICPAConferences.com.

Upcoming PFP Section-Hosted Webcasts:

Watch PFP News for registration links for upcoming events!

Today! Working Effectively with Emotional Clients
August 16 from 1-2:15pm ET
Free (no CPE).

Next Week! Is Your Firm Overlooking Millennial Clients?
August 23 from 1-2pm ET
Free (no CPE).

Advising "Sandwich Generation" Clients on Balancing Support for Parents and Children
August 30 from 1-2:15pm ET
Discounted CPE.

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.


Upcoming Conferences:

Personal Financial Planning Summit
January 8 - 10, 2018

Advanced Personal Financial Planning Conference @ENGAGE
June 2018


Other Upcoming Conferences:

Sophisticated Tax Planning for Your Wealthy Clients
November 13-14, 2017
Discounted CPE.
Contact Us
Email the PFP Team: financialplanning@aicpa.org Visit our home page: aicpa.org/pfp
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