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PFP News

 

Member-Exclusive News, Resources and Events

 

January 18, 2017

In This Issue

Podcast: Tax and Financial Planning for 2017-2018 under Trump and Ryan Proposals

A Brand New Experience: 2017 AICPA Advanced PFP Conference

Leg/Reg: AICPA Urges Treasury and IRS to Withdraw Proposed 2704 Regulations

Important Forefield Announcement: New Name, New Platform, Same Benefit

Bob Veres Media Reviews: Making 2017 Your Best Year Ever

Article and Resources: CPA Financial Planner

Credential Recertification Change

CPA/PFS Corner: Find-a-CPA-PFS Database

Other News: PFP Body of Knowledge Update; New: Tax Reform Resource Center; Podcast: Divorce Later in Life: Strategies for CPAs to Discuss with Clients; Bob Veres Media Reviews: Make No Mistake on RMDs; Nominate a Star CPA/PFS for a Standing Ovation

 

 

PFP News & Resources

 

Podcast: Tax and Financial Planning for 2017-2018 under Trump and Ryan Proposals

 

In this podcast, Bob Keebler interviews Bob Gordon about planning strategies to consider for 2017-2018, including:

 

An overview of Trump’s and Ryan’s plans

Anticipated changes to taxation of interest, dividends, and capital gains

Practical “blocking and tackling” financial planning strategies to discuss with clients

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A Brand New Experience: 2017 AICPA Advanced PFP Conference

 

AICPA ENGAGE is the profession's one-of-a-kind event to accelerate and advance your success, bringing together five of the AICPA's well-known conferences for four days of fresh ideas and breakthrough presentations and workshops — all under one roof. You can choose to attend only the Advanced PFP Conference or purchase a Mega Pass to access all conferences with all recordings and materials post conference. Within the top rated Advanced PFP Conference, you will continue to have the dedicated conference that you have come to count on each year with the highest quality, content, speakers and networking with your peers. You can choose from five tracks for focused learning: Wealth Management and Tax, Retirement Planning, Investment Management, Practice Management and Technology and Insurance/Risk Management.  You'll refine business strategies, implement new planning techniques, and learn a holistic approach to every life stage affecting your client's financial outlook.

Enhance your experience by registering to attend one of the following pre-conference workshops:

 

Building a PFP Services Business

George Kinder’s Seven Stages of Money Maturity

Personal Financial Planning Boot Camp

Planning for the $5 - $12 Million Estate

 

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. 

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Leg/Reg: AICPA Urges Treasury and IRS to Withdraw Proposed 2704 Regulations

 

On January 13, the AICPA called on the U.S. Department of the Treasury and the Internal Revenue Service (IRS) to withdraw regulations regarding the valuation of interests in corporations and partnerships for estate, gift, and generation-skipping transfer tax purposes. The regulations were proposed under Internal Revenue Code section 2704. Read the comment letter here.  For more information on the proposed regulations, including how to prepare clients now, access the 2704 Resources Page.

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Important Forefield Announcement: New Name, New Platform, Same Benefit

 

The robust and popular tool, Forefield Advisor is transitioning to Broadridge Advisor.  This AICPA PFP section resource contains thousands of ready-to-go presentations, client alerts and calculators you can use to efficiently and effectively communicate timely planning information to your clients and prospects.  You can access this tool by visiting our PFP home page and clicking on the updated “Broadridge Advisor” button or use this link to directly access Broadridge.

The current platform will remain available through February 3, after which, the new platform will become the default.  We encourage you to try the new website layout in advance.  You can test the new version by logging in, then click on the green “Go” button located above the Search Resources title on the upper left area of the screen.  You may continue to use the old platform or switch to the new platform at any time between now and February 3.

Please note that the content is not changing.  Rather, this new and improved platform will offer a more user-friendly layout.  We are currently working on creating training videos to walk you through the updated platform.

If you have questions or concerns navigating this new platform, contact the Broadridge client support group using any of the following options:

 

1-800-550-6831, option #2

Forefieldsupport@broadridge.com

Live Chat at www.forefield.com

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Bob Veres Media Reviews: Making 2017 Your Best Year Ever

 

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 January’s Financial Advisor magazine, including those rated with high relevance:

 

“Making 2017 Your Best Year Ever” by Bill Bachrach

“The Size of Our Heart” by Mitch Anthony

“Meet the Competition” by Joel Bruckenstein

“Don’t Leg Success Interfere With Your Work” by Ross Levin

 

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

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Article & Resources: CPA Financial Planner

 

In this article, CPA/PFS holder David Stolz shares his story about embracing the term CPA Financial Planner.  Read about the significant growth potential and also how he has become a trusted adviser in many areas to his clients and prospects.

Check out the CPA Financial Planner site for more information, including:

 

Facts and Opportunities for you as the “go-to” trusted adviser for your clients

Resources to help you build deeper, longer-lasting relationships with clients

Registration options if you determine that you should be registered as an investment adviser

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Credential Recertification Change

 

Recently, a notification letter was mailed out to update you to a change in the AICPA credential recertification process. There is no action required at this time. This notification simply serves to inform you of an important change with regard to CPE hours required for your designation. While historically credential holders were required to complete 60 hours of CPE over the span of 3 years, starting in 2017, credential holders (including CPA/PFS holders) are required to complete 20 hours of CPE each calendar year. Also, you should note that CPD (Continuing Professional Development) is the new term associated with continuing education. CPD recognizes that professional development is not limited to CPE classes and offers more leeway in what qualifies for the 20-hour requirement. When you renew your AICPA membership and pay dues, you are attesting at that time, that you have met the 20 hour CPD requirement. For more information, visit aicpa.org/credsupport.

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CPA/PFS Corner

 

 

Find-a-CPA-PFS Database
CPA/PFS credential holders are automatically included in the CPA/PFS Referral Database (FindaCPAPFS.org), a web resource for consumers and profession stakeholders to learn about the value of the CPA/PFS credential and locate qualified CPA financial planners. Be sure your profile is complete and up-to-date. You may contact the AICPA Service Center if you have changes (PFS@aicpa.org or 888.777.7077).

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Other News

 

 

PFP Body of Knowledge Update
Last week, the AICPA announced the release of an updated Personal Financial Planning Body of Knowledge (BOK) that was developed through input from CPA financial planners and the PFS Credential Committee. It provides a framework of the knowledge that CPA financial planners should understand to practice competently in this discipline. 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.  This body of knowledge will be tested on the July 2017 PFS exam.  For more information, view the press release and download the updated body of knowledge here
 
New: Tax Reform Resource Center
Congress has debated tax reform for the better part of the last decade. Now, the incoming Trump administration, along with an aligned Republican-led House and Senate, is committed to making tax reform a top priority for 2017. To help members stay informed on and manage changes related to tax reform, the AICPA has launched a new Tax Reform Resource Center.  Bookmark the page to make it your premier resource for all things related to this developing area.  Here you will learn what Congress is proposing and what has passed, find analysis from our tax experts, read about our advocacy efforts, and access guidance and tools to help you understand and apply the changes.
 
Podcast: Divorce Later in Life: Strategies for CPAs to Discuss with Clients
In the first podcast on “gray divorce”, Janice Green discussed unique factors and financial considerations and how CPAs can add value to the divorce process as a key trusted adviser. In this second podcast, Janice discusses the financial principles and asset attributes that are significant in the gray divorce, including red flags and strategies to discuss with your clients who are or may be considering divorce after age 50.
 
Bob Veres Media Reviews: Make No Mistake on RMDs
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 January’s Financial Planning magazine and Investment Advisor magazine.  Access other editions of media reviews, Inside Information and e-columns.
 
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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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!

Success Tips for Young CPAs and Financial Planners
Feb. 8 from 11am-noon ET
Free; no CPE.

Protecting Your Clients from Financial Fraud and Abuse
February 27, from 1-2:45pm ET
Free with CPE.

Other Webcasts:

Valuation in Tax: Key Discounts Every Valuation Professional Should Know
January 18 from 2-3:15pm ET
Discounted CPE.

Upcoming Conferences:

Next Week! Personal Financial Planning Summit
January 22-25, 2017
Discounted CPE.

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.

 

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