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
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.
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.
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.
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
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
About the CPA/PFS Credential:
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