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November 20, 2012
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A weekly digest of news and industry updates for the financial planning community

  Top Story 
  • FPA announces restructuring of internal operations
    The Financial Planning Association is restructuring some of its internal operations, including outsourcing its government advocacy efforts to The Raben Group. FPA is also outsourcing its meetings operation and has hired a new head for its national sales efforts. The changes are meant to better align the association's resources with its members' needs, FPA officials said. AdvisorOne (11/16) LinkedInFacebookTwitterEmail this Story
  Policy Watch 
  • Congress eyes modest increase in upper-income tax rates
    Congressional leaders and the Obama administration have expressed optimism that the "fiscal cliff" will be resolved. One possible solution may involve increasing upper-income tax rates to 37% from 35%. Congress is also looking at backup plans for spending cuts to replace the automatic cuts mandated by sequestration if an agreement cannot be reached. Financial Advisor online/Bloomberg (11/16) LinkedInFacebookTwitterEmail this Story
  • DOL enforcement expected to ramp up
    President Barack Obama's re-election means Assistant Labor Secretary Phyllis Borzi will remain in charge of the Employee Benefits Security Administration, and she is expected to enforce new disclosure rules for plan sponsors and plan participants. Industry experts also expect the Labor Department to continue scrutiny of improper or undisclosed pay by plan consultants and investment advisers. InvestmentNews (free registration) (11/18) LinkedInFacebookTwitterEmail this Story
  Practice Management 
  • How to refocus a website with the client in mind
    Many advisers' websites focus on skills and services and not as much on the prospective clients' needs, writes Kristin Harad, CFP and marketing trainer for advisers. To streamline a site with clients' interests as the main focus, make sure the target audience is clearly defined, that users can request consultations on the site and that the biography is relatable, Harad writes. Management Center blog (11/16) LinkedInFacebookTwitterEmail this Story
  • 4 ways advisers can tweak their sales growth
    Advisers can drive sales growth in four ways, according to a report by LIMRA and McKinsey & Co. The survey suggests partnering or teaming with other advisers, targeting specialized groups of clients, creating retirement plans for existing clients and being aware of what is happening in clients' lives. AdvisorOne (11/15) LinkedInFacebookTwitterEmail this Story
  • Expert: Advisers need to focus on clients' wives, too
    Advisers ignore their male clients' wives at their peril, said Suzanne Siracuse, publisher of InvestmentNews, speaking at an industry panel. She said 80% of women die single, and women typically outlive their husbands by 14 years. Studies have found that 70% of widowed women switch advisers within a year of their husbands' deaths, she added. InvestmentNews (free registration) (11/14) LinkedInFacebookTwitterEmail this Story
  • Should retirement investors deduct adviser fees?
    The Internal Revenue Service allows taxpayers to deduct certain investment fees associated with retirement accounts such as 401(k) plans or IRAs, or they can pay the fees from their accounts' pre-tax dollars, Michael Kitces writes. Investors should consider the length of their investment horizon and whether such fees are fully deductible when deciding between paying from a retirement account or taking the deduction, Kitces writes. Nerd's Eye View blog (11/14) LinkedInFacebookTwitterEmail this Story
  Industry Report 
  • Retirement planning gets short shrift from investors, survey finds
    Investors are underestimating how much money they will need in retirement and are not devoting enough time to retirement planning, according to a BlackRock Investor Watch survey. One-third of respondents believe they will spend less than 15 years in retirement, even though chances are high of living longer than that. Retirement planning ranks third on a list of activities on which investors spend their free time. Financial Advisor online (11/15) LinkedInFacebookTwitterEmail this Story
  • Investors fret over taxes but aren't likely to meet with advisers
    More than 6 in 10 high-net-worth investors believe tax code changes will be put into place that will negatively affect their investment portfolios, according to Nationwide Financial. However, 60% say they will not, or are unsure if they will, meet with a financial adviser about the tax changes. Among those who do plan to meet with a financial adviser, 26% say they will wait until the tax code changes take effect. National Underwriter Life & Health (11/16) LinkedInFacebookTwitterEmail this Story
  • Investing little-by-little vs. all at once
    Calculations by Vanguard indicate that investors typically net larger returns if they invest a lump sum all at once instead of in smaller, regular installments, the way 401(k) plans tend to operate. Still, investing a little each month has benefits, Dan Kadlec writes, and for many, it's the only way they can afford to do so. (11/15) LinkedInFacebookTwitterEmail this Story
  FPA News 
  • Plan the Future of Your Practice with FPA Practice Match
    FPA Practice Match, powered by RIA Match, is a website that matches financial advisers looking to buy, sell, merge or join practices with other financial advisers. Advisers and RIAs can search for free and pay to connect anonymously and securely. FPA Practice Match serves all advisers, regardless of scale, scope or experience. Find the practice that is right for you (member login required). LinkedInFacebookTwitterEmail this Story
  • It's Here! 2012-2013 Financial Planning Compensation Study
    The 2012-2013 Financial Planning Compensation Study is a must-have for every financial planning professional. This study provides an in-depth review of compensation for 21 positions, allowing you to determine the type of compensation structure that is relevant to you and your firm. Call 800-322-4237, option 2, or e-mail now and receive your copy via e-mail within 24 hours. Cost: Member $99, Nonmember $159, Academics $49. LinkedInFacebookTwitterEmail this Story
A good man with a good conscience doesn't walk so fast."
--Georg Büchner,
German writer

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