Enjoy the current installment of "weekend reading for financial planners" - this week's edition starts out with the news that another planner is threatening to sue the CFP Board over its compensation disclosure rules, after being told that the relationship between his "fee-only" advisory firm and commission-based family real estate firm meant that his advisory firm must describe itself as "commission and fee" instead. Also in the news this week was the latest study from the CFP Board that the public awareness campaign continues to have a material impact on consumer awareness of the CFP marks, and a decision from the SEC on new rules for money market funds that may introduce a floating-NAV to institutional funds and the potential for "gating" on redemptions and potential 2% exit fees on retail money market funds during times of financial distress.
From there, we have a few articles on technical planning issues this week, including a look at how sometimes Social Security beneficiaries should actually claim early to take advantage of dependents' benefits, an overview of the current landscape for annuities of all types (including which have been more popular lately, and which are declining), and some fresh analysis comparing systematic withdrawal strategies in retirement to partial annuitization approaches.
We also have several practice management articles, from a discussion of whether we need to start teaching personal finance in high schools not just for financial literacy but to encourage young people to aspire to become financial advisors when they go off to college, to a look at the recent failed effort by Savant Capital Management to launch an e-platform for their advisory firm and what they learned from the experience, to the highlights of the latest RIA industry study from Financial Advisor magazine.
We wrap up with three interesting articles: the first raises the interesting idea that perhaps we should focus less on "time management" and more on energy management like athletes, recognizing that one highly energized hour can be far more productive than several tired ones; the second article looks at some of the ongoing discussions about changing the accredited investor rules and the challenging reality that income- and wealth-based tests may simply not be the best measure of determining whether someone is "savvy" enough to select complex investments; and the last provides a valuable reminder that there are a lot of great questions we ask our clients about how they vision their retirement and their future that we might consider asking inwardly of ourselves sometime as well...
Enjoy the reading!