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- Top 10 fears that financial advisers are dealing with right now
Bob Veres lists the top 10 fears financial advisers face heading into 2013. Lack of investor confidence, another global financial crisis and high levels of government debt top his list, but he also is concerned that advisers "will focus on all the negatives, and spend their time on all the things to worry about and forget that the positives vastly outnumber the negatives." PFP/PFS members have free access to Bob Veres' Inside Information newsletter service, a $349 value -- free with membership. RIABiz.com
(11/26)     
- Fixed-income investments are popular, but increasingly risky
Some $300 billion will be invested in bond funds this year, more than the totals posted for 2010 and 2011, according to Strategic Insight. Fixed-income investments, however, are viewed as increasingly risky, says Michael Gitlin, director of fixed income at T. Rowe Price Group. Yields have become too low for the credit risks, he says. InvestmentNews/The INsider blog (free registration)
(11/21)
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- New guidelines make no-lapse universal life less attractive
No-lapse or "secondary guarantee" universal life policies will likely become more expensive and their cash value perform worse than originally projected, under the National Association of Insurance Commissioners' new guidelines. The rules set higher reserve requirements for universal life policies with secondary guarantees that are not viable based on current interest rates. Nerd's Eye View blog
(11/21)
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- Women want to hear about health care planning, panel says
Advisers should help clients, especially women, plan for their future health care needs, according to experts participating in a webcast. "Women are planners, and they are very concerned about these issues. When you engage them, they are going to listen and to want to participate in the conversation," said Katy Votava, president of Goodcare.com. InvestmentNews (free registration)
(11/21)
- Veres: Don't underestimate clients' retirement expenditures
Advisers can dramatically underestimate clients' retirement lifestyle expenditures if they rely on Labor Department statistics and standard spending models, writes Bob Veres, publisher of Inside Information. Many spending models assume clients' lifestyles will remain constant in retirement. Veres recommends that advisers assume higher "real" yearly cost increases for clients than the inflation rate in their Monte Carlo simulations. Advisor Perspectives
(11/20)
| Tax Topix | | |
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- Advisers urge investors to prepare for 3.8% tax
High-income earners should start planning for the 3.8% tax on investment income that will go into effect Jan. 1 as part of the 2010 Affordable Care Act, advisers say. "High earners don't understand the impact. I have one client, a very high net worth individual with a lot of investment interest, who may owe $1.3 million more," said Joseph Perry, partner-in-charge of tax and services for Marcum. For free year-end planning ideas and resources (including planning for the 3.8% surtax), visit aicpa.org/PFP/YearEnd. AdvisorOne
(11/20)
| You and Your Practice | | |
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- Financial advisers predict growth in succession planning
Retiring baby boomers will increase demand for succession planning, according to a survey of financial advisers by WealthCounsel and Trusts & Estates. The survey results also indicate a clear correlation among financial planning, estate planning and business planning, and further support the notion that various aspects of clients' planning often overlap and intertwine. WealthManagement.com (U.S.)
(11/20)
- 5 ways to improve time management without technology
Financial advisers can better manage their time without relying on technology, writes Allyson Lewis, a time strategy expert and author. They can do this by scheduling quiet time away from the phone, cleaning out clutter and taking into account how short people's attention spans generally are. Morningstar Advisor
(11/2012)
| AICPA PFP News | | |
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Free 30-Minute Webinar on Using Year-End Planning Tools
2012 presents an unprecedented opportunity for you to differentiate your firm and services and assist your clients with financial planning needs. With potential changes to estate and tax laws, a plan needs to be in place to trigger in order to ensure that no opportunities are missed. In this free Web seminar (Nov. 29 from 1 to 1:30 p.m. ET), leading practitioners will share useful insights on using Forefield Advisor and the Proactive Planning in Preparation for 2013 Toolkit to assist your clients through year-end planning. The AICPA PFP Division recently opened these popular tools at no charge for a limited time (visit aicpa.org/PFP/YearEnd) to help you educate and plan for your clients now. PFP/PFS members already have access to these resources as part of their membership.
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Free Webinar: Post-Election -- Now What? How CPA Financial Planners Can Advise Their Clients
With the election behind us and a little over a month to trigger planning strategies prior to year-end, hear how leading practitioners Ted Sarenski and Scott Sprinkle are advising their clients on financial planning opportunities for the remainder of the year given the current political climate and potential changes to the income and estate tax laws. Register now for this event on Nov. 28 from 1 to 2:15 p.m. ET. This webinar is a live repeat of the Nov. 14 event and is free to everyone. No CPE is offered. If you missed the Nov. 14 event and can't join us on Nov. 28, listen to the recording and/or download the presentation materials in the PFP Web Seminar Library.
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CPA/PFS Referral Program
Are you a current CPA/PFS holder? Receive a credit of $350 to apply toward your future PFS credential dues by referring a new PFS credential holder (awarded after they are approved) or a candidate to sit for the PFS exam (awarded after they complete the exam). Note that we currently allow PFS candidates to satisfy the exam requirement by passing the CFP or ChFC exam in lieu of the PFS exam. For PFS exam takers, we offer a variety of discounts and sponsorship reimbursement programs to assist with both training and cost. Share www.aicpa.org/PFSroadmap with your peers to show them how they can start pursuing the credential today.
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| AICPA Personal Financial Planning Section Resources |
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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 CPAs who specialize in providing estate,
tax, retirement, risk management and investment planning and advice to their individuals and closely held entities.
The PFP Section’s primary objective is to support its members by providing resources that enable them to perform
valuable personal financial planning services in the highest professional manner. Members of this section broaden
their technical expertise, improve their professional competence and receive resources to deliver high-quality,
profitable PFP services. All AICPA members, generally, are eligible to join the PFP Section.
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| About the
PFS Credential |
The
Personal Financial Specialist
credential distinguishes CPAs as having demonstrated that they have the subject matter expertise and experience necessary
to deliver financial planning services of the highest, as well as the CPA's traditional hallmarks of uncompromising
objectivity, integrity and adherence to the AICPA's Code of Professional Conduct. CPA/PFS credential holders demonstrate
their expertise through financial planning education, experience and testing.
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| | Recent Financial Planning Digest Issues:
- Tuesday, November 20, 2012
- Tuesday, November 13, 2012
- Tuesday, November 06, 2012
- Tuesday, October 30, 2012
- Tuesday, October 23, 2012
| | | Lead Editor: Tom Anderson
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