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The Planner News Briefs |
August 2010 |
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Dear Fellow
Planners: We are now feeling the full force of
summer heat as both planners and clients look for a cool respite. For the FPA of Nevada, we had a
“sizzling” quarterly educational event on July 28th discussing life
insurance as an asset class, what our future looks like for bonds in this
economy, and looking at life settlements as a planning tool. All of the sessions were well
received and generated lots of comment and interest. Since July was our third quarterly
event, be sure to put the last and final educational session, our
collaborative all day event with the GPA in your calendar. This final session will be held on
Wednesday, October 27th. Our final installment of Fiscally Fit,
which included the risk management session and the session on what
everyone needs to know about Social Security was held on August 5th. Again, we want to thank everyone
who participated in both this session and the spring program for making
them an ongoing success. We
will be looking at more Pro Bono opportunities for next year, so if you
have any ideas, please talk to the respective Pro Bono chairs, Pat Meidell
and Eleesa Aimaq.
Last and certainly not least, we will be
holding a number of 'Tween events to provide opportunities for networking
and learning in the fall. The
next 'Tween event is scheduled for next Wednesday, August 18th,at 5:30
p.m. at Bootlegger Bistro and will provide a very timely discussion on
“Tax Implications of Short Sales and Debt Cancellation.” We look forward to seeing you
there!
Upcoming Programs August 18, 2010 - 5:30-7:30PM'Tween:Tax Implications of Cancellation of
Indebtedness Robert Wagner EA, Raymond Wagner JD CFP® Bootlegger Bistro 7700 Las Vegas Boulevard South, Las Vegas - (702) 736-4939 Hors D’oeuvres - Cash Bar Click here for more details or to Register September 8, 2010 -
5:30 - 7:30
September 14, 2010 - 5:30 -
7:30
October 27,
2010 8:30 AM - 4:30 PM Review: I
am really surprised that most of you missed one of the best speaker slates
we have had. Some of us travel many miles and pay many dollars to hear
economists and strategists that don’t measure up to
these. The economist Steven Wheetley was amazing. And he backed up every
prediction with hard data. We also heard about the conservative attitudes
of very wealthy clients towards risk in Life Insurance. Our last
speaker showed us the ins and outs of Life Settlements. We plan to
ask them back so don’t miss the next time. It was
fascinating. Eleesa Aimaq
As you may know, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 on July 15th. The FPA, along with its partners in the Financial Planning Coalition (the CFP Board of Standards and NAPFA) lobbied intensively in two key areas:
After 18 months of lobbying, the Financial Planning Coalition was able to have included in the bill a study to be performed by the GAO which will address key area #1, the regulation of financial planners in terms of the design and effectiveness of current regulation at the State and Federal level, and the legal and regulatory gaps which exist in the regulation. Also authorized by the bill is a 6-month study by the Securities and Exchange Commission (SEC) which when completed gives the SEC the authority to require brokers to act in the best interest of the consumer when giving personalized investment advice (key area #2). The study will also examine regulatory “gaps, shortcomings or overlaps in the standards of care” for broker-dealers and investment advisors. The bill does not require a continuing duty of care or duty of loyalty after this advice is given, nor does it implicitly state that commissions or proprietary products are a violation of care per se, as long as the consumer is aware of this and consents to this arrangement. Over the next six-months the regulatory reform efforts will continue to evolve and there will likely be more opportunities for our members to influence the design of the reform. Thank you for your efforts and continued support.
We wrapped up our second and last three part series of the Fiscally Fit program. Stacy Nichols presented Risk and Life Insurance and Rita Meier from the Social Security Administration gave us a few secrets about getting the most for our clients and ourselves from our Social Security benefits. Being the hot summer that it is, our attendance was understandably down. But you would never see a more enthusiastic audience. |
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Attend FPA Denver 2010 through FPA
Diversity Scholarships FPA Diversity Scholarship applications to attend FPA Denver 2010 are due August 27! Scholarship awards include 1-year free FPA membership, admission to FPA Denver 2010 (October 9-12), and some travel expenses FPA’s Diversity Committee, a national volunteer workgroup, established this merit-based scholarship program to enable award recipients to attend FPA conferences to collaborate with the FPA community and promote inclusivity and creativity within the financial planning profession. Criteria for applicants include demonstrating and acting upon an intense desire to affect the diversity of the financial planning profession, including but not limited to:
Winners will be chosen by a sub-committee of FPA’s Diversity Committee. The Committee’s mission is to develop strategies to raise awareness and promote inclusiveness of diverse communities in the financial planning profession. The Committee believes that the key to serving diverse clients is through a financial planning profession that reflects that diversity itself. Through these scholarships FPA strives to increase professional opportunities for the widest spectrum of people so that all may join and thrive in the financial planning profession. To learn more about the FPA Diversity Scholarship or to apply for this year’s scholarships, please visit: www.FPAnet.org/Connect/. FPANV offers Members Exclusive Discounted Pricing on the
2010 MarketCounsel Member Summit
To register, please click
the registration button below and select registration type Retail in the
drop down menu and enter Other News & Announcements Foundation for
Financial Planning
New Prescription Portfolio management and the new Medicare taxes... Always an essential element of portfolio planning, taxes are about to become even more important to... click here for complete article. |
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