Friday, October 17. 2008
Learning More About How NOT To Do Financial Planning
The results are in for FPA's first ever video competition on "How NOT To Do Financial Planning", and congratulations to Dave and Rob Daline of Minnetonka, MN, for their winning video "Winston the Pug."
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Wednesday, October 15. 2008
Are We Really Ready for true Standards of Care?
Continuing the fiduciary financial planning momentum created by the CFP Board's release last year of their updated Standards of Professional Conduct, the FPA has promulgated one of the first formal statements of a "Standard of Care" for the delivery of financial planning services - a step that many consider to be crucial for financial planning to become widely recognized as a profession. But is the planning community really ready to go where this road leads?
Continue reading "Are We Really Ready for true ... »
Continue reading "Are We Really Ready for true ... »
Monday, September 22. 2008
Is the Safe Withdrawal Rate too safe? Or too aggressive!?
As readers of my newsletter know, in May I published research that challenges the safe withdrawal rate as potentially being TOO safe in some environments, where market valuation is not at unfavorable extremes. However, in some feedback I've received from readers, another important point is being made - in some cases, the safe withdrawal rate may also still be too aggressive!
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Friday, September 5. 2008
Using average cost accounting for Exchange-Traded Funds?
The average cost accounting method was first created to allow a taxpayer to simply report the gain on partial sales based on the average cost of all shares purchased (instead of the default FIFO treatment, or by using specific share identification), but was reserved exclusively for mutual funds and not for individual equity securities. However, it appears now that the rules may be a little broader than anyone realized - because technically, an exchange-traded fund (ETF) may also be eligible, notwithstanding the fact that it trades more like a stock than a mutual fund.
Continue reading "Using average cost ... »Wednesday, August 27. 2008
The plight of the independent RIA
A new campaign is underway to help promote the visibility of independent RIAs to the general public. But the focus is not to increase awareness of the differences between RIA and broker/dealer compensation, nor to explore the fiduciary versus suitability debate. Instead, it's simply to convey the message "We exist."
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Tuesday, August 19. 2008
Is the Military Leading the Cutting Edge of Financial Planning?
In the midst of the financial planning community's struggles to figure out how to serve the mass middle market in an effective manner, a surprising new entrant to the field may lead the way in showing how to get it done right. Welcome to the Personal Financial Counselor Network, brought to the U.S. military courtesy of the Department of Defense!
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Monday, August 18. 2008
Negative buzz about Vanguard's IRA beneficiary rules
Do your clients have retirement accounts held directly with Vanguard? More than one? Do you know who the beneficiaries are for each account? Are you SURE you have that right? Sorry, think again.
Continue reading "Negative buzz about ... »Thursday, June 26. 2008
Things are Heating Up with the Next Generation... of No-Load Life Insurance!
For many years, the no-load space for life insurance products has been very limited, to a large extent because fee-based advisors were perceived as being a very weak target market by the traditional insurance companies. However, a new entrant to this marketplace is raising the stakes on the pricing and transparency of permanent life insurance, and is starting to get some attention as a result!
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Monday, May 19. 2008
Single-State Municipal Bond Funds Dodge a Bullet! But What About 529 Plans?
Earlier today the Supreme Court issued its ruling in the case of Department of Revenue of Kentucky v. Davis, stating that Kentucky's tax rules which exempt the interest earned on Kentucky muncipal bonds while taxing the interest of other state's bonds is not a violation of the so-called dormant commerce clause of the Constitution. The ruling spared what may have been a tumultuous disruption to the municipal bond market, but the Supreme Court's decision still leaves the door open for several issues...
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Friday, May 16. 2008
What is the CFP Board up to now?
In a press release this morning, the CFP Board announced the creation of the new "Council on Education" for the purposes of developing a model curriculum, determining continuing education requirements, reviewing course providers, and implementing a peer review process, among other things. Huh? Isn't that what the CFP Board already does!?
Continue reading "What is the CFP Board up to ... »Monday, May 12. 2008
Did Moss Adams Consulting Just Blow Up?
If you ask anyone in the financial planning industry who the leader is for industry consulting and benchmarking, Moss Adams is likely to be at the top of the list. At least, it was up until today.
Continue reading "Did Moss Adams Consulting ... »
Continue reading "Did Moss Adams Consulting ... »
Tuesday, April 29. 2008
So who is Kevin Keller?
It's been a time of great change for the CFP Board over the past few years, and especially the past 12 months or so. The responsilibity for managing all of this change in the organization lies on the shoulders of one man - Kevin Keller. The only catch - he's also the new kid on the block.
Continue reading "So who is Kevin Keller?" »Thursday, April 24. 2008
Rigorous Analysis of Pension Options Done Right!
Many financial planners are faced with the client question: "Which pension option should I choose?" Comparing various lump sum and annual pension payout choices based on client life expectancies has often been mathematically intensive and quite difficult - at least, up until now.
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Friday, April 11. 2008
It's Financial Literacy Month - and we need to step it up!
April is Financial Literacy Month - a time
for us to reflect on what we're doing to promote and support financial literacy
in the United States, and hopefully focus on making improvements. But a recent
survey indicates that we need to try harder - and we might even be losing
ground!
Thursday, April 3. 2008
Should you be doing 2008 tax planning for your rebate check?
With the Economic Stimulus Act rebate checks set to start mailing out to taxpayers next month, based on their 2007 tax filings, many believe that no tax planning remains for the rebate checks. However, for the many individuals who will receive less than the full maximum of the rebate check (or possibly as little as nothing), tax planning opportunities do remain!
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