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Reminder: Opportunity for a PFS Dues Credit

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AICPA

PFP News

 

Member-Exclusive News, Resources and Events

 

March 22, 2017

In This Issue

2017 Pre-Conference Workshops: Four Specialized Learning Opportunities

Broadridge (formerly known as Forefield) Alerts: Essential Facts About the American Health Care Act and List of Tax Scams

New in the Learning Library: Success Tips for Young CPAs and Financial Planners; Protecting Your Clients from Financial Fraud and Abuse

Nominate a Star CPA/PFS for a Standing Ovation

CPA/PFS Corner: Summer PFS Exam Activities; Reminder: Opportunity for a PFS Dues Credit

Other News: Leg/Reg: DOL Issues Interim Policy for Fiduciary Rule Enforcement; Broadridge (formerly known as Forefield) Alert: Deadline for Making 2016 IRA Contributions; Bob Veres Media Reviews: Taboo IRA Investments and Coordinating the Elder Care Players; What the Updated PFP Body of Knowledge Means for You

 

 

PFP News & Resources

 

2017 Pre-Conference Workshops at Engage: Four Specialized Learning Opportunities

 

Take advantage of the opportunity to learn from nationally-recognized speakers and programs at one of the Advanced PFP Conference pre-conference workshops.  Grow yourself personally, professionally and enhance your practice by making the most of your experience at Engage this June by adding* one of these workshops to your registration.  Early bird rates for Engage are good through 4/28 in addition to a PFP Section member or PFS credential holder discount. 

 

Building a PFP Services Business - Planning for individuals, families and business owners in the areas of tax, retirement, estate, investment and risk management is growing twice as fast as traditional accounting services. This two-day seminar will give you all the tools you need to get underway in building a successful personal financial planning services business.  Explore numerous business models, learn from CPAs who have built successful practices while providing the highest client value and hear from compliance, technology and practice management experts.

George Kinder’s Seven Stages of Money Maturity® - Improve your ability to inspire clients to action toward their goals, and establish broader and deeper relationships with your clients, making them clients for life. This workshop trains advisers to help their clients find freedom and financial security by developing clarity and ease around their relationship to money. The Kinder Institute’s tested method is used by thousands of successful advisers worldwide.

Personal Financial Planning Boot Camp - Becoming a CPA/PFS credential holder will allow you to demonstrate your expertise at the highest level, whether you specialize in tax, estate, retirement, investment or risk management. Having a CPA/PFS credential creates a level of distinction few financial planners can match.  In this workshop, top experts will systematically walk you through the entire PFP body of knowledge, integrating income tax planning each step of the way.  This material will equip you make a significant impact on your client’s financial life with the ability to integrate their goals, tax situation and financial plan in a holistic way. 

Robert Keebler: Planning for the $5-$12 Million Estate - Tax planning can be very difficult for taxpayers, our client base, have many difficult decisions to make regarding elections and the appropriate disposition of assets. These decisions are further complicated by speculative concerns such as future investment performance and possible changes to the law. Specifically, we'll discuss the most relevant sections of the Code to understand the mathematics of the portability election, the mathematics of various common estate planning techniques, and estate planning for IRAs.

 

*To register for the ENGAGE conference and a bundle workshop, click here to start the registration wizard; once you enter your personal information, you will be directed to the next page where you can choose your registration pass.  Hit next to add on a workshop of your choice. 

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Broadridge (formerly known as Forefield) Alerts: Essential Facts About the American Health Care Act and List of Tax Scams

 

On March 6, House Republicans rolled out their version of a new health-care law, the American Health Care Act (AHCA), which is intended to replace the Affordable Care Act (ACA). While some of the provisions of the ACA remain in the AHCA, there are several major changes included in the proposed law.  This Broadridge client alert provides a general overview of the AHCA as it was originally proposed. While it is likely that changes to this Act will be forthcoming, your clients can use this alert as a starting point on the new health care law.

Also, the IRS recently issued its annual list of tax scams. Now is a good time to remind your clients to use caution and avoid becoming victims of fraudulent tax schemes. The IRS list highlights various scams that taxpayers may encounter, many of which peak during tax-filing season. This new concept video addresses some of the items from the list.  To access the new client alert and concept video, login to Broadridge and then click on Adviser Education > Adviser Alerts on the left side of your screen.

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New in the Learning Library: Success Tips for Young CPAs and Financial Planners; Protecting Your Clients from Financial Fraud and Abuse

 

As a PFP Section member or PFS credential holder, you have complimentary access to recorded webcasts and podcasts which are posted shortly after each event in the learning library (note: the recordings do not qualify for CPE credit).  In case you missed them, make sure to check out the following recordings at your convenience:

 

Success Tips for Young CPAs and Financial Planners - Experts Mark Astrinos, CPA/PFS, and David Oransky, CPA/PFS, moderated by Michael Goodman, CPA/PFS, explain how young CPAs and financial planners can advance their careers through shared insight, personal insight and advice regarding things like the advantage of youth and finding a mentor.

Protecting Your Clients from Financial Fraud and Abuse - When a client is threatened or becomes a victim of financial fraud or abuse, turning to a trusted adviser - their CPA - is one of the smartest decisions they can make.  In this webcast from the AICPA Forensic and Valuation Services (FVS) and Personal Financial Planning (PFP) Sections, expert CPAs share advice on how to protect your clients from this abuse.

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Nominate a Star CPA/PFS for a Standing Ovation

 

Young CPA/PFS credential holders are the future of the profession and the AICPA’s PFP Division wants to recognize these individuals for their professional achievements. The AICPA’s Standing Ovation Program recognizes young CPAs in personal financial planning (including estate, retirement, investment, risk management/insurance, and tax planning) who exhibit exemplary professional achievement. Help spread the word to others in your firm that they can submit nominations with this quick and easy online application by May 1, 2017.

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CPA/PFS Corner

 

 

Summer PFS Exam Activities
Plan now for the summer (July 1-31) PFS exam with self-study, online, and in-person review options.  Register now and save these dates:

 

May 1, 8, 15, 22 - Online PFP Boot Camp

July 11-12 - In-person PFP Boot Camp at the Engage Conference in Las Vegas

Anytime - Self-study PFS Exam Review Course

 

Go to aicpa.org/PFS for more information or email us at financialplanning@aicpa.org if you have any questions.

Reminder: Opportunity for a PFS Dues Credit
As a CPA/PFS credential holder you can earn a 100% credit towards PFS credential dues for next year.  Simply refer a CPA to either obtain the CPA/PFS credential or sit for the PFS exam by April 1.  Learn more about how to qualify and what to discuss with potential credential holders. This is a win-win-win opportunity for you, your profession and your CPA colleagues! Support the CPA financial planning profession today (and make a few bucks too!). Email us at financialplanning@aicpa.org with questions.

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Other News

 

 

Leg/Reg: DOL Issues Interim Policy for Fiduciary Rule Enforcement
With continued uncertainty surrounding a possible delay in the Labor Department’s fiduciary rule, the agency has issued a temporary policy clarifying how it will handle enforcement.  Read this article (page 2) for more information on how the DOL plans to implement the temporary enforcement policy, which is a result of the 60-day delay.  Currently, the agency is weighing the many comments it is receiving during the open comment period (ends on March 15).  Because of the high standards to which AICPA members are already held, the new DOL rule should not have a significant impact on AICPA members who provide personal financial planning services, outside of additional documentation which may be required (specifically a Best Interest Contract) for registered investment advisers and those who sell commission-generating products if the rule takes effect as written.

PFP Section members have access to a number of resources which explore the many effects of the U.S. Department of Labor’s Fiduciary Rule on advisors and consumers, including imposing a fiduciary standard of care on all advice related to retirement assets. For all CPAs who provide planning advice to individuals, the AICPA’s Statement on Standards in Personal Financial Planning Services serves as a framework for delivering these services in the highest professional manner.  Stay tuned to future issues of AICPA PFP News where we will keep you informed and updated on any changes and developments regarding this rule.  The fiduciary guide, Prudent Practices for Investment Advisors, created by fi360 and technically reviewed by the AICPA’s fiduciary task force, led by Clark M. Blackman II, CPA/PFS, can serve as a guide to RIAs and others offering investment management services.

Broadridge (formerly known as Forefield) Alert: Deadline for Making 2016 IRA Contributions
Use this new Client Alert to help you inform your clients that there's still time to make IRA contributions for 2016.  To access the alert, log in to Broadridge and then click on Advisor Education, then Advisor Alerts on the left side of your screen.

Bob Veres Media Reviews: Taboo IRA Investments and Coordinating the Elder Care Players
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 March’s Financial Planning magazine, including those rated with high relevance like “Taboo IRA Investments” by Ed Slott and “Coordinating the Players” (elder care) by Martin Shenkman.    Access other editions of media reviews, Inside Information and e-columns.

What the Updated PFP Body of Knowledge Means for You
Recently, the AICPA PFP Division released the updated Personal Financial Planning Body of Knowledge, which outlines the knowledge that CPA financial planners should know to competently practice in personal financial planning.  A significant change reflected in the updated version is the emphasis on integration between all areas within PFP, particularly tax planning.  The organization has been modified to emphasize the importance of the planning process across all areas of PFP.  PFS Committee Chair Susan Tillery, CPA/PFS, explains the importance of the changes and the implications for you and your practice in this article

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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 aicpaconference
materials.com
.

Upcoming PFP Section-Hosted Webcasts:

Watch PFP News for registration links for upcoming events!

Advising Clients on Planning for Education

April 26 from 1-2:15pm ET
Free with CPE.

Life Insurance Policy Review: What CPAs Need to Know When Serving Individual Clients
May 16 from 1-2:15pm ET
Discounted CPE.

Proactive Planning: Post-Tax Season

May 24 from 1-2:45pm ET.
Discounted CPE

Top Financial and Estate Planning Ideas
June 21 from 1-2:15pm ET.
Discounted CPE.

Evaluating Existing Variable Annuities
June 29 from 1-2:15pm ET
Discounted CPE.

Taking a Fresh Look at Reverse Mortgages
July 19 from 1-2:15pm ET
Discounted CPE.


Upcoming Conferences:

Advanced PFP Conference (ENGAGE)
June 12-14, 2017
Discounted CPE.

Building a Personal Financial Planning Services Business*
(ENGAGE pre-conference workshop)
June 10-11, 2017

George Kinder’s Seven Stages of Money Maturity Workshop*

(ENGAGE pre-conference workshop)
June 10-11, 2017

PFP Bootcamp*
(ENGAGE pre-conference workshop)
June 10-11, 2017

Planning for the $5-12 Million Dollar Estate*
(ENGAGE pre-conference workshop)
June 11, 2017

*To register for the ENGAGE conference, individual workshops, or bundle, click here to start the registration wizard; once you enter your personal information, you will be directed to the next page where you can select the event or combination of events you wish to attend.

2018 Personal Financial Planning Summit
January 7- 10.
Registration Coming Soon.

 

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

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