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The Planner News Briefs |
May 2010 |
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Welcome to this edition of Financial Planning Association of Nevada’s monthly news brief. In it you will find useful information about our chapter and its programs promoting the financial planning profession.
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Dear Fellow
Planners: With April 15th behind
us, many financial professionals are taking a small breather to plan the
rest of the fast-approaching summer.
It’s a great time for
“off-season” client reviews and to
see how we will interpret last week’s market
excitement. For the FPA of
Nevada, we had our second quarterly educational meeting and it was
superb! We kicked off the
meeting with a session on how financial planners can use mediation
techniques in their practices (not only for mandatory foreclosure
mediation!); followed by a wonderful overview of why Nevada has the
absolute “best” laws in the area of
asset protection trusts and finished up with a session on identity theft
that had all of us scrambling to figure out how we can further protect
information for both our clients and ourselves! The meeting sessions promoted so
much interest that it went well into the lunch hour with planners
networking together and commenting on the topics heard.
We hope to see you at
our next quarterly meeting in July!
In the meantime, check your emails for upcoming ‘Tween sessions (we
have some good ones planned) as well as our next Pro Bono sessions to be
held at Enjoy the last few
cooler days we have before we heat up. Here’s looking forward to
seeing you at our next event! Programs
“You really missed something if you weren’t there (FPA
Quarterly meeting April 28th).
We got 3 requests from attendees right then and there to use those
speakers at other meetings!"
–Eleesa Aimaq Our next 'Tween Educational/Networking Workshop "Doc-101" will be on May 20, 2010 9:30-11:30 or again at 1:00-3:30.
Join us for a free workshop presented by Phillip Downard of Laserfiche®, where you’ll learn how a digital document management solution will help your organization improve productivity, protect client confidentiality, and gain an edge on the competition.
Visit http://www.thetacon.com/Register.html to reserve a spot in this workshop. Don’t miss this opportunity to learn how Laserfiche will help your organization gain a competitive edge. For more information and to register online, click here: http://www.thetacon.com/Register.html or call: 888-996-5558 x2
Save the dates: July 28 - Quarterly Education Meeting 7:30-1:30. October 27 - "Looking Ahead" Annual Meeting in conjunction with the Gift Planning Advisors (CFP® Ethics Program available).
We have started contacting current members with a short telephone survey in order to improve benefits of chapter membership. We are getting a very good response. Please keep an ear out for our call. We will report the results of our survey once it is completed. We are also interested in the possibility of having joint meetings with other affiliated professional associations. If you belong to an allied financial professional association, please let me know about your upcoming meetings and events so we can promote them in our monthly newsletter. We need your upcoming schedules by the first week of the month to be included in our newsletter which is published mid-month. Milestone Anniversaries - Congratulations to: Marty Haugland & Jocelyn Holzwarth who have each completed 10 years as members of the FPA.
Our pro-bono financial literacy program, Fiscally Fit, has been so popular that we are repeating it again this summer. The Barbara Greenspun WomensCare Center and St Rose Dominican Hospitals will be hosting the three night program on June 3, July, 1, and August 5 at their West campus on Warm Springs Road and Cimarron. This is a terrific primer of financial planning. If you know folks who need to learn the basics of financial planning, refer them to this program. For more information contact Eleesa Aimaq (eleesa@cox.net). In addition the
pro-bono committee is working with the IRS and Financial
planning professionals will help train volunteer coaches who will work
one-on-one with individuals to develop a spending and savings plan.
Coaches will meet with the financial planning trainers to review cases and
help guide the participants through the process. The program is designed
to be scalable and should be able to be used universally throughout the
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A Year
Without Federal Estate Tax? Estate planners were stunned in December when Congress failed to act on fixing the federal estate tax. As of January 1, 2010, both the federal estate tax and the federal generation-skipping transfer tax... Click here for complete article
Congress is in the process of drafting legislation that will affect how we do business. PLEASE ACT NOW to send a letter supporting a fiduciary standard for all those who provide investment advice: http://www.fpanet.org/GovernmentRelations/GrassrootsEfforts/. The Senate could consider this amendment at any time! The Senate is currently debating financial regulatory reform legislation, the Restoring American Financial Stability Act of 2010 (S. 3217). An amendment offered by Senators Akaka (HI), Menendez (NJ), and Durbin (IL) would make sure that brokers who give personalized investment advice are held to the same fiduciary standard of care as investment advisers. Contrary to assertions by opponents, the Akaka-Menendez-Durbin amendment: Would not require securities brokers or insurance producers to do away with commission-based compensation. The legislation explicitly protects commission-based compensation. Many financial planners currently receive commissions while adhering to the fiduciary standard, by managing conflicts of interest and disclosing compensation to clients. Would not prevent securities brokers or insurance producers from offering a limited menu of products. The legislation specifically permits the sale of limited or proprietary products. Many financial planners currently offer a limited line of products to their clients and do so with fiduciary accountability by making appropriate disclosures and managing conflicts. The extension of the fiduciary standard of care to brokers and dealers would reduce consumer confusion and provide a protection for consumers of financial services, particularly the elderly. Please act NOW to make sure your voice is heard! If you encounter problems with the FPA Grassroots Website contact Jennifer Rudolph, jennifer.rudolph@fpanet.org, (202) 449-6348. We have found that the best web browser to use is Microsoft Internet Explorer and that you may need to adjust your firewall protection levels. For current information and updates on federal and state government issues affecting financial services go to: http://www.fpanet.org/GovernmentRelations/
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President’s Message
At
our last quarterly educational program we got some great tips on how
mediation techniques are used to help clients make better planning
decisions from Jean Peyton and Terry Miller. Steve Oshins made a
convincing case for using Nevada Asset Protection Trusts. And Tom Maddox
gave us a good dose of paranoia when it comes to things that our clients
(and we) do which could put us at risk for identity
theft. 
Membership
Community Relations
Featured Article 
Government Relations
