Rule to delay fiduciary rule filed with OMB | Trump picks Powell to be Fed chairman | How to start discussing financial fraud with older clients
November 6, 2017
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AICPA's Personal Financial Planning Section
Top Story
Details of tax reform proposal from House revealed
The Tax Cuts and Jobs Act released by the House Ways and Means Committee incorporates many of the provisions listed in Republicans' September tax-reform framework while providing new details. The bill features new tax rates, a lower limit on the deductibility of home mortgage interest and the repeal of most deductions for individuals. Stay updated on the latest tax reform developments at the AICPA Tax Reform Resource Center. Listen to a podcast by Bob Keebler on how tax reform could affect individuals and estates.
Journal of Accountancy online (11/2),  Financial Planning online (11/2),  Financial Planning online (11/2) 
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Are Your Clients Prepared for Long-term Care?
Lack of knowledge surrounding the importance of long-term care expenses can have a major impact on one's retirement. This free resource will help empower CPAs and financial professionals with tools, resources and knowledge to help minimize LTC exposure for their clients. Free download >
Industry News and Trends
Rule to delay fiduciary rule filed with OMB
The Office of Management and Budget posted a notice that it had received the Department of Labor's rule calling for a delay of its fiduciary regulation. OMB would have to approve the delay, which would push implementation back to July 1, 2019.
InvestmentNews (tiered subscription model) (11/2),  ThinkAdvisor (free registration) (11/2) 
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Trump picks Powell to be Fed chairman
President Donald Trump has announced Jerome Powell, appointed by former President Barack Obama as a Federal Reserve governor in 2012, as his choice to be chairman of the central bank. Powell would succeed Janet Yellen, whose term as chair ends in February.
The Hill (11/2) 
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Small firms, we have valuable tools for you
The small firm hub contains free, informative tools designed to address challenges and help you meet your clients' needs. From strategic planning and technical guidance to human resources best practices, we’ve got you covered
Estate & Elder Planning
How to start discussing financial fraud with older clients
Protect senior clients from financial fraud by informing yourself about the topic, educating clients about common scams and having an open discussion. This article provides helpful language you can use to talk to clients about fraud.
WealthManagement (10/31) 
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Other News
Retirement, Investment & Insurance Planning
Tracking down forgotten retirement benefits
Retirement benefits such as 401(k) plans and pensions may become lost over time as clients move from one employer to another. Here's how to find them -- and what to do with the accounts.
The Motley Fool (11/1) 
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Tax Topix
Budgeting for realized gains
Disciplined planning for realizing gains lessens the potential for unanticipated taxes or ugly year-end surprises, as this article explains.
Tax Insider (10/26) 
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Timely Planning Topics
What to consider when starting a financial planning practice
Developing a financial planning practice starts with understanding the characteristics of your client base. Here's a look at other factors to consider, including the services you will offer, the pricing model you plan to use and your firm's relationship with potential competitors. Learn more about the opportunities in financial planning and find FREE tools and resources from the AICPA Personal Financial Planning Section here.
Accounting Today (10/30) 
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You and Your Practice
Key points to consider about succession planning
The stability of your firm will be a key consideration when developing a succession plan. Stability encompasses several factors, including your management team, your client base and your mix of revenue streams. PFP/PFS Section members can learn more with this podcast featuring succession planning expert David DeVoe.
ThinkAdvisor (free registration) (10/30) 
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A 6-week plan to train newly hired advisers
Newly hired advisers have a lot on their plates: They need to adjust to new co-workers, new work cultures and different clients. A six-week training program can help advisers become accustomed to your firm and its processes and procedures.
ThinkAdvisor (free registration) (10/30) 
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What to look for in cybersecurity insurance
Training and planning are keys to dealing with cybersecurity risk, but insurance policies may also be a valuable last line of defense. Advisers should look for a policy that includes liability coverage as well as coverage of costs directly associated with breaches.
ThinkAdvisor (free registration) (11/2) 
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Other News
Broadridge Alert: Open Enrollment for Insurance Marketplaces Began Nov. 1
Individuals (including their families) may apply for new health insurance or switch to a different health care plan through a Health Insurance Marketplace. This new client alert explains the Affordable Care Act's open enrollment period, including changes and new regulations proposed by the Trump Administration. Also, the Broadridge Health-Care Reform Resource Center has information you can use to educate your clients and prospects about the Affordable Care Act (Obamacare).
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Tomorrow! Free Consumer-Oriented Webcast on Student Loan Debt
Student loan debt. Three words that strike fear into new graduates and parents everywhere. There are ways, however, to make repayment more manageable. In this plain-English consumer-oriented webcast, student loan experts Melissa Towell and Jim Sullivan will discuss the many options available to lower the cost of monthly student loan payments. Register now for the event, which takes place on Nov. 7.
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About the PFP Section | Join the PFP Section | About the CPA/PFS Credential
Become a CPA/PFS Credential Holder | Broadridge Advisor Client Communication Tool
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About the PFP Section
The AICPA's Personal Financial Planning Section is the premier provider of information, tools, advocacy and guidance for advisors 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
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