Advisers expect to offer broader array of services | Fed nudges rates higher, explains plan to reduce bond holdings | IRS provides simplified method to request an extension of time to make a portability election
June 19, 2017
Powered By SmartBrief
AICPA's Personal Financial Planning Section
Brought to you by the American Institute of CPAs
Top Story
Advisers expect to offer broader array of services
About 4 in 10 respondents to the recent Schwab Advisor study on RIAs indicated advisers will set themselves apart by offering services such as tax and health care planning. Forty-four percent of respondents said they already offer additional services without charging more.
Financial Planning online (6/13),  ThinkAdvisor (free registration) (6/13) 
LinkedIn Twitter Facebook Google+ Email
Free Guide: Protect Your Business & Clients from Cybercrime
If protecting your clients and CPA firm from potential cybercrime dangers across all forms of technology isn’t a top priority, it should be. The first step to safety is to educate yourself on the most common threats. We’ve compiled a variety of beneficial pieces to make you better informed and aware of cyberattack threats and how you can prevent and combat them.
Industry News and Trends
Fed nudges rates higher, explains plan to reduce bond holdings
The Federal Reserve raised its key interest rate to the 1% to 1.25% range and offered details about how it plans to reduce the size of its portfolio of more than $4 trillion worth of bonds. Officials expect inflation to move upward as a result of low unemployment and other factors, said Fed Chair Janet Yellen.
The New York Times (free-article access for SmartBrief readers) (6/14) 
LinkedIn Twitter Facebook Google+ Email
Make a Positive Difference in Someone's Life
Financial planning is not only where the future is heading; it's also a way you can truly make a meaningful impact on someone's life. It could be one of the 10,000 baby boomers turning 65 each day for the next 10 years. Or, it could be a younger person who just needs competent, credible, ethical and holistic financial advice. In other words, they need a CPA just like you
Estate & Elder Planning
IRS provides simplified method to request an extension of time to make a portability election
Recent guidance from the IRS will allow some estates to use a simplified process to request additional time to make a portability election. Prior to this guidance, the only method to file for a late portability election involved seeking a ruling request as part of Regs. Sec. 301.9100-3.
The Tax Adviser online (6/9) 
LinkedIn Twitter Facebook Google+ Email
Preserve family wealth -- and your practice -- by engaging the next generation
As wealthy baby boomers transfer their assets to millennials, advisers can help families preserve their assets and build loyalty to the firm by developing relationships with the younger heirs. Stay updated on the latest estate planning strategies in the CPA's Guide to Financial and Estate Planning (available to PFP/PFS section members).
Journal of Accountancy online (6/14) 
LinkedIn Twitter Facebook Google+ Email
Other News
Retirement, Investment & Insurance Planning
10 Social Security issues to discuss with female clients
Women account for the majority of Social Security recipients above the age of 62, partly because of their longer life spans. Here are 10 Social Security topics that may apply to your female clients, including spousal and survivor benefits.
InvestmentNews (tiered subscription model) (6/9) 
LinkedIn Twitter Facebook Google+ Email
Relationships are key to brain health during retirement
Researchers have found that people who are more connected to friends and family live healthier, more fulfilling and longer lives during retirement. Strong relationships have even been found to protect memory and brain function. Advisers can have an immediate impact on their clients' well-being by helping them retire with good health habits.
Financial Advisor online (6/15) 
LinkedIn Twitter Facebook Google+ Email
Tax Topix
The tax treatment of LTC insurance
Many options are available for paying for long-term-care insurance, each with its own tax implications. Take a look at the rules and deductions that apply when taxpayers pay for insurance directly or when premiums are paid through a business. Want to know more about the latest in LTC insurance? PFP/PFS section members can listen to this webcast on the topic by expert Michael Kitces.
Nerd's Eye View blog (6/14) 
LinkedIn Twitter Facebook Google+ Email
Timely Planning Topics
Advising clients on charitable legacies
Sid Kess, CPA, and Edward Mendlowitz, CPA/PFS, share ways CPAs can increase their value to clients who are charitably minded. PFP/PFS section members can access a wide selection of communication tools for clients who wish to donate to charity in Broadridge Advisor.
The CPA Journal (6/2017) 
LinkedIn Twitter Facebook Google+ Email
New employee benefit focuses on charitable giving
A partnership between Global Impact and public benefit corporation Charity Charge will let employers offer a benefit to assist workers with charitable giving. The offering combines a donor-advised fund and a cash-back credit card.
Financial Planning online (6/14) 
LinkedIn Twitter Facebook Google+ Email
Other News
You and Your Practice
SEC officials advise on how to prepare for an exam
During a recent forum in Chicago, Securities and Exchange Commission staffers suggested that advisers facing an exam should offer a brief introduction to their firm and its business model. In many cases, problems uncovered during exams involve issues with fiduciary duty and disclosure requirements, an official said.
Financial Planning online (6/14) 
LinkedIn Twitter Facebook Google+ Email
Tips for launching a fee-only advisory firm
With the numbers of registered investment advisers steadily growing, professionals need to find a way to set themselves apart from the competition. Experts discuss what it takes to start a new practice, touching on issues such as compensation, technology and compliance. For more information, the AICPA Personal Financial Planning Division has created this free roadmap to developing a financial planning practice.
Financial Planning online (6/13) 
LinkedIn Twitter Facebook Google+ Email
Other News
Bob Veres E-Column: Achieving Absolute Engagement
In this e-column, Bob Veres shares insights from Julie Littlechild's book, The Pursuit of Absolute Engagement. Read it to discover the three keys to absolute engagement. Access our archive of materials from Bob Veres, including media reviews, Inside Information and e-columns.
LinkedIn Twitter Facebook Google+ Email
Article: Coming Trends in Services to Individuals
Gone are the days when clients went to their CPA to only have their tax returns prepared. Clients are looking for one-stop shopping for their financial needs. Taking a holistic view of the services you offer can help boost your success and your firm's longevity, as well as help you retain and delight clients. Learn more in this article from expert Lyle Benson, CPA/PFS.
LinkedIn Twitter Facebook Google+ Email
Learn more about PFP:
About the PFP Section | Join the PFP Section | About the CPA/PFS Credential
Become a CPA/PFS Credential Holder | Forefield Advisor Client Communication Tool | AICPA Advanced Personal Financial Planning Conference | Fox Financial Planning Network for CPAs
The optimist proclaims that we live in the best of all possible worlds, and the pessimist fears this is true.
James Branch Cabell,
LinkedIn Twitter Facebook Google+ Email
Keep up to date with our e-briefs.
CPA Letter DailyInclusion SolutionsBusIndNews
Financial Planning Digest  
About the PFP Section
The AICPA's Personal Financial Planning Section is the premier provider of information, tools, advocacy and guidance for CPAs who specialize in providing estate, tax, retirement, risk management and/or investment planning advice to individuals, families and business owners.

About the CPA/PFS Credential:
The Personal Financial Specialist program allows CPAs to gain and demonstrate competence and confidence in providing estate, tax, retirement, risk management and/or investment planning advice to individuals, families and business owners through experience, education, examination, and a resulting credential.
AICPA Personal Financial Planning Section Resources
Contact AICPA
AICPA Service Center
220 Leigh Farm Road
Durham, NC 27707-8110
Phone: 888.777.7077
Fax: 800.362.5066
Sign Up
SmartBrief offers 200+ newsletters
Learn more about the SmartBrief audience
Subscriber Tools:
Contact Us:
Editor  -  Derby Cox
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
© 1999-2017 SmartBrief, Inc.®
Privacy policy |  Legal Information