Blog
Good to Know: Financial Advisor is 6th Best Job in America
According to CNN Money being a financial advisor is the 6thbest job in the United States. That is no surprise to people already in the industry, but may come as a surprise to those who aren’t familiar with the normal duties of a financial advisor. So what makes it such a great job? Primarily, it’s the satisfaction…
Read More
Good to Know: A Whole New Look
We are very excited to announce the re-launch of our CFP® Certification Education Programs blog. The goal of this new look and feel is to make the blog more relevant to you, the student. To that end, we have come up with a number of categories under which we will post information. We will also…
Read More
Student Question of the Week: Insurance
Student Question from: Jacky ACourse: Insurance Student Question: It says here that “Most policies will guarantee that the death benefit will never go below the face amount.” I thought that the death benefit and face amount are interchangeable terms. Is the death benefit equal to the face amount plus the cash value? Instructor Response: Very…
Read More
CFP® Practice Question of the Week – Transfer Tax
Assuming no deaths in the intervening generations, which of the following is a skip person to Bill for the purpose of generation-skipping transfer taxes if Bill is currently 44 years old? A – Bill’s 4-year-old neighbor B – Bill’s 4-year-old nephew C – Bill’s 40-year-old work colleague D – Bill’s 8-year-old granddaughter by a previous…
Read More
Student Question of the Week: Income Tax
Student Question from: Rachael GCourse: Income Tax Student Question: I had a couple questions in regards to tax filing penalties. 1) Since the penalty is calculated from net tax due, what happens when a taxpayer overpaid taxes and gets a refund? How is the penalty calculated? 2) Is the minimum penalty after 60 days on…
Read More
Student Question of the Week: Estate Planning – Gift Tax
Student Question: Question: What would happen if a person used the maximum lifetime gift exclusion of $5,120,000 in the year 2012. But the person dies in the year 2015 assuming the limit dropped to a lower amount like 1 or 2 million? The lifetime amount gifted would be higher than the current limit. Instructor Response: Answer: …
Read More
CFP Board Issues Compliance Checklist for Standards of Professional Conduct
It is no secret that the CFP Board has placed greater and greater emphasis on the Standards of Professional Conduct required of certified financial planners. Evidence of this can be seen in the most recent national Board exams, where greater emphasis has been given to testing knowledge and compliance of these standards. To assist CFP® professionals in complying…
Read More
CFP Board Proposing to Increase CE Hours
The CFP Board is currently proposing to make the following changes in continuing education (CE) requirements for certified financial planners: Increasing total CE hours required for each renewal period (every 2 years) from 30 to 40 hours. Granting credit for practice management programs and/or pro bono activities sponsored by a registered CE sponsor organization (up…
Read More
Moderation is the Key
We often feel guilty when we make an expensive purchase. After all, conventional wisdom dictates that every penny must be saved or invested. Scott Rick, a University of Michigan marketing professor, together with other researchers, conducted a study to quantify how people feel about what they buy. During the course of the study, they discovered something…
Read More