Research examines early retirement trends, financial impacts | Know how, when to use financial-transition planning with clients | Important tax information to share with clients affected by natural disaster
September 18, 2018
FPA SmartBrief
A digest of news and industry updates for the financial planning community
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Research examines early retirement trends, financial impacts
Most Americans retire earlier than they had expected to, which affects their ability to enjoy retirement success, writes David Blanchett, Ph.D., CFA, CFP®, of Morningstar. Blanchett's new research examines factors that lead to early retirement and the implications of early retirement in terms of savings needed.
Journal of Financial Planning (9/2018) 
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Practice Management
Know how, when to use financial-transition planning with clients
Clients undergoing a financial transition, such as the death of a spouse, often feel overwhelmed, writes Susan Bradley of the Sudden Money Institute, who says advisers can normalize clients' experience. Bradley discusses the approach transition planning requires compared with traditional financial planning.
Financial Advisor online (9/12) 
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Important tax information to share with clients affected by natural disaster
Financial advisers should become familiar with tax relief for clients affected by natural disasters, retirement specialist Ed Slott writes. For example, storm victims can repay qualified hurricane distributions to a retirement account within three years tax-free.
Financial Planning online (9/13) 
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Policy Watch
Bill to relax audits of small broker-dealers backed by House panel
The House Financial Services Committee has voted 36-16 to advance a bill that would relax requirements for audits of small broker-dealers. Mandatory use of auditors approved by the Public Company Accounting Oversight Board would be waived for brokers that have fewer than 150 registered representatives who don't provide custody services for client funds and that are in good standing with regulators.
InvestmentNews (tiered subscription model) (9/13) 
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Giancarlo says cryptocurrency regulation needs a light touch
Giancarlo says cryptocurrency regulation needs a light touch
Giancarlo (Commodity Futures Trading Commission)
J. Christopher Giancarlo, US Commodity Futures Trading Commission chairman, says regulators should avoid hindering innovation when considering regulating cryptocurrencies, though they need to be tough on fraud and manipulation. "When it comes to policymaking, I think we need to be slow and deliberate and well-informed," Giancarlo said.
CNBC/Reuters (9/14) 
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3 Steps To CDH Success
Learn about the communication framework, best practices, mistakes to avoid, and the tools required to achieve the full potential that Consumer-Directed Healthcare (CDH) offers. Get the white paper.
Industry Report
Financial industry experts offer ideas for reaching millennials
Millennials' financial outlook is bleak because the population born between 1980 and 2000 doesn't save for retirement to the degree older generations do, is mostly financially illiterate and can't easily take retirement savings from one employer-sponsored program to another, experts said at a recent House hearing. James Lee, an FPA member and president of Lee Investment Management, said the financial industry must reach millennials through technology and digital platforms to change these trends.
The Sun (Elizabethtown, N.Y.) (9/13) 
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US judge: Education Dept. improperly delayed student-loan rule
The Education Department was wrong to postpone implementation of a rule to help students obtain debt forgiveness if a college defrauded them, US District Judge Randolph Moss has ruled. The delay was "arbitrary and capricious," and the department's arguments in support of the action "lack any meaningful analysis," Moss said.
CNN (9/13) 
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FPA News
FPA Annual Conference 2018 Registration Closes 9/21
If you haven't already registered to attend the 2018 FPA Annual Conference in Chicago (Oct. 3-5), you're cutting it pretty darn close! Don't miss one of the year's top financial planning events, arming you with knowledge that resonates, connections that matter and content designed to help planners like you turn cutting-edge theory into action. You'll leave the Windy City invigorated and inspired to hit the ground running when you return to the office. Registration closes Sept. 21 -- avoid future FOMO, and register today!
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Financial Planning Coalition Responds to SEC's Package of Rule Proposals
FPA submitted three comment letters through the Financial Planning Coalition to address the Securities and Exchange Commission's (SEC) proposed rule "Regulation Best Interest"; the proposed IA Interpretive Guidance; and the proposed Form CRS Relationship Summary to the SEC. In the letters submitted to the SEC, the Coalition expresses its concerns regarding the package of rule proposals and lays out its recommendations to strengthen the proposed rules, including encouraging the Commission to revise its Standards to extend the fiduciary obligation of a CFP® professional to all financial advice. Learn more about the Coalition's comment letters.
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