July 30, 2021
FPA SmartBrief
A digest of news and industry updates for the financial planning communitySIGN UP ⋅   SHARE
Top Story
The coronavirus pandemic has helped younger clients realize it is never too early for estate planning, writes Tiedemann's Mike Yelverton. Advisers can help clients organize their financial goals and establish a dynamic plan that will evolve with changing laws and clients' preferences.
Full Story: ThinkAdvisor (free registration) (7/26) 
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Streamline Your Tax Processes
The right tax-smart tool can allow you to spend more time with your client, and less time crunching numbers in front of a computer. Learn how Avantax can help simplify your processes, so you can focus on addressing the needs of your clients. Read the whitepaper
Practice Management
People who have to adjust to new roles, such as retirement, can experience grief even when the change is positive, writes Amy Florian, CEO of Corgenius. Financial advisers must help their clients through these role adjustments by acknowledging their situation, asking questions and being supportive, Florian writes.
Full Story: WealthManagement (7/27) 
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Financial advisers who streamline their client portfolios to suit their preferences and strengths can work more efficiently and be more successful, writes Ted Rusinoff of Wealth Design Partners. To do this, Rusinoff suggests advisers identify a target market and reevaluate how they approach conversations with clients.
Full Story: InsuranceNewsNet Magazine (7/23) 
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Policy Watch
The Federal Reserve says the economy has made progress toward low unemployment and stable inflation. Policymakers have left interest rates unchanged, with Chair Jerome Powell saying an increase is "not something that is on our radar screen right now."
Full Story: CNBC (7/28),  The Wall Street Journal (7/28),  Bloomberg (7/28) 
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Milliman's Public Pension Funding Index, a metric that measures the assets-to-liabilities ratio of the nation's 100 largest public pensions, hit 82.6% at the end of June, its highest level since the index's inception in 2016. A surging stock market was the main cause, with the pensions' annualized return hitting almost 20% for the year ending June 30, according to the report.
Full Story: MarketWatch (tiered subscription model) (7/27) 
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To eliminate greenwashing, seen as the primary hindrance to environmental, social and governance investment, asset managers are adopting the European Commission's benchmarks that prevent products from claiming alignment with the Paris Agreement unless they have a demonstrable commitment to lowering the carbon footprint and to making annual emission reductions. Only around $1.2 billion in products are tied to the benchmarks, out of a worldwide total of $35 trillion, but the European Securities and Markets Authority estimates that figure has more than doubled this year.
Full Story: Bloomberg (7/27) 
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Industry Report
The coronavirus has highlighted the value of financial planning and advice, with 52% of clients saying they value it more since the pandemic, according to new research from Aon and Money Management Institute. The research also found that clients who see their values incorporated into planning are more satisfied and more likely to recommend an adviser to others.
Full Story: ThinkAdvisor (free registration) (7/27) 
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Financial criminals are increasingly trying to cheat consumers by pretending to be legitimate financial advisers and brokers, the FBI and Securities and Exchange Commission warn. The scammers' techniques include falsifying documents, cold calling using technology that makes it look like they are calling from legitimate firms, and creating fake websites and social media profiles.
Full Story: InvestmentNews (tiered subscription model) (7/27) 
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Climate change could influence clients' retirement plans, writes Steve Vernon of Rest-of-Life Communications. Possible impacts include where they will live in retirement and the types of investments they make.
Full Story: Forbes (tiered subscription model) (7/27) 
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FPA News
The All-New FPA Marketplace: Savings on the Products and Services You Need
We are pleased to announce the all-new FPA Marketplace powered by the Chalice Network® is now available to our valued FPA members. Through the Marketplace, you can access many benefits designed for FPA members, especially our various insurance programs. In addition, you can now access BenefitHub, which offers you potentially thousands of dollars in savings on a wide range of services and programs from top companies such as Verizon, Costco, Geico, Avis, Hertz, Disney, AMC, Gap and many more. Access the new FPA Marketplace now!
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Now Available: The 2020 FPA Annual Report
FPA is pleased to announce the availability of the 2020 FPA Annual Report covering the work of the Association in 2020, and including last year's audited financial statements, an update on the OneFPA Network beta test, and more. Get caught up on how your Association is working for you and the profession. Check out the Annual Report now.
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About FPA
The Financial Planning Association® (FPA®) is the principal membership organization for CERTIFIED FINANCIAL PLANNER™ professionals, educators, financial services professionals and students who are committed to elevating the profession that transforms lives through the power of financial planning. Through a collaborative effort to provide members with professional education, business support, advocacy and community, FPA advances financial planning practitioners through every phase of their careers, from novice to master to leader of the profession. Learn more about FPA at FinancialPlanningAssociation.org and follow on Twitter at twitter.com/fpassociation.
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