Current PFP News 


The Most Important Metrics for a Data-Driven Advisor

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AICPA

PFP News

 

Member-Exclusive News, Resources and Events

 

May 25, 2016

In This Issue

Video Series & Whitepaper: Tax Aware Investing

Forfield Alert: Below Zero: The World Experiments with Negative Interest Rates

Bob Veres Media Review: Fidelity's Big Bet Unveiled

T3 Tech Hub Update: The Most Important Metrics for a Data-Driven Advisor

T3 Tech Hub Update: The Evolution of Professional Software for Advisors

Member Benefit: The CPA’s Guide to Financing Retirement Healthcare

Article: Reducing Taxes on Call Options

Attend the Advanced Estate Planning Conference – Early Bird Registration!

CPA/PFS Corner: Free PFS Exam Registration; Find a CPA/PFS Database

Other News: Podcast: Advising Clients on the Medical Home Improvement Tax Deduction; Free Sessions Now Available from 2016 Advanced PFP Conference; Forefield Advisor: Free Concept Pieces for Communicating with Bob Veres Media Reviews: Diamond Teams 2: Successful Advisory Firms are Works in Progress

 

 

PFP News & Resources

 

Video Series & Whitepaper: Tax Aware Investing

 

Tax aware investing, the process of improving investment performance by employing advantageous tax strategies, is one of the hottest topics in investment planning. The federal income tax has always been the greatest drag on investment returns, greater than inflation, management fees or transaction costs, but until recently tax planning wasn’t a part of the investment process. Most investors focused on achieving the highest possible pre-tax return and left the tax planning until after investment gains or losses had already been realized. During the past 10 to 20 years, however, there has been a growing realization that it isn’t what you earn that counts, but what you keep after taxes. Access new PFP/PFS member-only resources, including a video series and whitepaper on:

 

The definition of tax aware investing and why it’s important

Bracket management

Portfolio management

Draw-down strategies for the retirement portfolio

Planning for concentrated low basis portfolios

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Forfield Alert: Below Zero: The World Experiments with Negative Interest Rates

 

Six central banks in Europe and Asia have taken the unprecedented step of implementing negative interest rates in an effort to stimulate their sluggish economies. Although the U.S. Federal Reserve remains committed to raising rates, the Fed is watching these experiments closely. How do negative interest rates work? View the alert.

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Bob Veres Media Reviews

 

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

 

“Cashing in on Experience” by Mitch Anthony

 

“Special Advice for Special Needs Parents” by Christopher Robbins

“Fidelity’s Big Bet Unveiled” by Joel Bruckenstein

“10 Young Advisors to Watch” by Eric Rasmussen

 

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

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T3 Tech Hub Update: The Most Important Metrics for a Data-Driven Advisor

 

Implementing business intelligence can help your firm to grow based on intelligent decisions and solid data. As an advisor, you can use these tools to get useful data and make smart decisions. This article contains important metrics you may need to be collecting including:

 

Client to advisor ratio

Client demographics

How often your staff repeats the same workflows

 

As a member of the PFP Section (inclusive of CPA/PFS credential holders), you have access to the T3 Tech Hub and all content on the site. The platform is in its initial launch phase and new content is being often. Look for more updates in the PFP news or subscribe for automatic alerts through the subscription at T3Technologyhub.com.

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T3 Tech Hub Update: The Evolution of Professional Software for Advisors

 

Bob Veres wrote that he felt like a “kid in a candy store” walking through the T3 exhibit hall experiencing all of the new technology at the Consumer Electronics Show. This article provides the most recent updates on CRM software, changes to planning software and new automation with various institutional robo platforms.

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Member Benefit: The CPA’s Guide to Financing Retirement Healthcare

 

The CPA’s Guide to Financing Retirement Healthcare contains a vast array of helpful tools in advising clients on the many aspects of retirement healthcare. This includes information on:

 

The basic rules of Medicare,

Financing long-term care and

How to incorporate this type of advice into your practice.

 

The guide contains technical information supplemented with charts, client questions and appropriate advisor responses.

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Article: Reducing Taxes on Call Options

 

Senator Wyden introduced legislation on May 19th to change the taxation of derivatives because Congress is concerned that well advised taxpayers can choose how they will be taxed by choosing one derivative versus another. Below is a recent article pointing out how that opportunity is available when buying a call option on the S&P 500; enjoy access to the article, Best Ways to Take the Tax Bite Out of Call Options, by Robert Gordon, President of Twenty-First Securities Corp.

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Attend the Advanced Estate Planning Conference – Early Bird Registration!

 

With recent changes in tax and estate legislation, your clients will be seeking advice and practical knowledge on how these new laws will directly benefit them. Being able to meet their objectives and offer strategic options in ways that are tax efficient is key to gaining their confidence and measuring success. Leading the way, as it has for over 30 years, the AICPA Advanced Estate Planning Conference focuses on today’s estate planning opportunities in an intense three days. This in-depth learning program delivers the expertise, hands-on training, and up-to-the minute information practitioners have come to expect in order to service their clients in the best way possible. Early Bird registration available through June 3 using the discount code EST16 for a $75 savings. PFP/PFS members save an additional $100 when you login using your AICPA member account.

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CPA/PFS Corner

 

 

Free PFS Exam Registration
Purchase any PFS exam review product and include the PFS exam in the shopping cart at no charge for first-time exam takers during the summer exam period of July 1 to August 15.

Find a CPA/PFS Database
CPA/PFS credential holders are automatically included in the CPA/PFS directory (findaCPAPFS.org), one of the links on the Financial Planning Resources page. This is a web resource where consumers can learn about the value of the CPA/PFS credential and locate qualified CPA financial planners. For best results, your profile should be complete and up-to-date. Update your profile information on your AICPA My Account page.  Be sure your privacy setting is set to “Public” if you would like your name to appear in the Credential Directory.

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Other News

 

 

Podcast: Advising Clients on the Medical Home Improvement Tax Deduction
With the aging population and 130 million Americans living with chronic disease, more and more of your clients may have to make modifications to their homes that will qualify for the medical expense tax deduction. Guiding clients on making these improvements so that they qualify for the deduction is a valuable service you can offer them. Listen to the podcast, by Martin Shenkman, CPA/PFS.

Free Sessions Now Available from 2016 Advanced PFP Conference
Access six full session recordings for free from the 2016 AICPA Advanced PFP Conference. These sessions showcase the exceptional quality of the best and most advanced conference in the profession, covering all of the core areas of personal financial planning – estate, tax, retirement, investment, risk management/insurance planning as well as practice management strategies. Video and audio recordings, as well as presentation materials from the 2016 Advanced Personal Financial Planning Conference, are available from AICPA Conferences. Registered conference attendees have complimentary access when they log in to the site (see instructions on how to access the materials), while others can create an account to purchase recordings and presentation materials. Join us at the 2017 Advanced PFP Conference on June 12-14 at the MGM Grand in Las Vegas or online!

Forefield Advisor: Free Concept Pieces for Communicating with Clients
PFP/PFS section members have access to a robust collection of client communication tools via Forefield Advisor. These pieces can be customized with your name, firm logo and client name and can be saved as PDFs, HTML or even word documents. To access your full suite of benefits and review these concept pieces, and more, click here.

Bob Veres Media Reviews
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 May’s Financial Planning magazine, including those rated with high relevance ranging from “Are you Conflict-Free?” to “Diamond Teams 2: Successful Advisory Firms are Works in Progress.” Access other editions of media reviews, Inside Information and e-columns.

Final Reminder! Apply to the 2016 Leadership Academy
For the eighth consecutive year, the AICPA is hosting a Leadership Academy in Durham, NC from October 2-6, 2016. Over the four day course, candidates will be able to participate in interactive sessions designed to teach strategic planning and personal success skills – including communication and delegation for handling complex management challenges. More than 200 CPAs have participated in the Leadership Academy. The academy is opened to any licensed CPAs who are voting members between the ages of 25 and 35. The deadline to apply is May 31, 2016.

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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-Sponsored Webcasts:

Watch PFP News for registration links for upcoming events!

Using Trusts as the Designated Beneficiary of a Stretch IRA
June 29, 1-2:15pm ET
Discounted CPE.

Tax Aware Investing
July 13 from 1-2:45pm ET
Discounted CPE.

Retirement Planning for the Business Owner
July 20, 1-2:45pm ET
Discounted CPE

Latest Trends and Developments in Long Term Care Insurance
August 17, 1-2:15pm ET
Discounted CPE.

Using Charitable Trusts to Avoid Capital Gains Taxes & the 3.8% Surtax
Sept. 21 from 2-3:45pm ET
Discounted CPE.

Estate Planning for the 99%
Sept. 28 from 1-2:45pm ET
Free with CPE.

Post-Mortem Planning
Oct. 19 from 1-2:45pm ET
Discounted CPE.

Proactive Year-End Planning After the Election
Nov. 22 from 1-2:45pm ET
Discounted CPE

Tax Planning with Life Insurance
November TBD
Discounted CPE.

Divorce Taxation
December TBD
Discounted CPE.

Other Upcoming Webcasts

Tax Practice Monthly: Adding Virtual Client Meetings to Your Practice
Speaker: Jimmy Williams
June 16, 2016 from 1:00 – 2:00pm ET
Discounted CPE.

Upcoming Conferences:

Advanced Estate Planning Conference
July 18-20, 2016
Discounted CPE.

Sophisticated Tax Planning for Your Wealthy Clients
November 10-11, 2016
Discounted CPE.

National Tax Conference
November 14-15, 2016 Discounted CPE.

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

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

 

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

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