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CFP Board’s Study Shows Impact of CFP® Professionals on Financial Well-Being
CFP® Board Updates The CFP Board has released the first findings from its Financial Planning Longitudinal Study, a decade-long research initiative analyzing the financial well-being of American households. The study’s initial results reveal a significant advantage for individuals who work with CERTIFIED FINANCIAL PLANNER® (CFP®) professionals, showing they achieve better financial outcomes and greater personal…
QTIP Marital Trust
Course: Estate PlanningLesson 10: Applications of Estate Planning Concepts Student Question: Can you help clarify for me seemingly contradictory information in the two sentences below regarding “disinheriting children”? The first sentence seems to imply that the surviving spouse could disinherit children. However, the second sentence states that QTIPs are often used to “prevent a surviving spouse from disinheriting children.”…
Establishing a Proper Emergency Fund
Jan, a single 35-year-old marketing manager, earns $90,000 annually and has monthly living expenses of $5,000, which include rent, utilities, food, transportation, and minimum debt payments. She has $8,000 in a high-yield savings account and $12,000 in a taxable brokerage account. Sarah wants to ensure she has an adequate emergency fund. Which of the following…
AI — A Financial Advisor’s Friend
Good to Know AI can be a competitive advantage for savvy financial advisors. While its potential applications for financial advisors are yet to be fully realized, here are just 6 strategies to consider. Contact more clients– AI can assist in making your client communications more frequent, targeted, and meaningful. For example, AI can manage client…
Skip Persons and the Generation Skipping Transfer Tax
Course: Estate PlanningLesson 7: Transfer Taxation IV – Generation Skipping Transfers Student Question: Regarding example below, would the death of the father, Stephen, not move Andrew one step up making him only one generation below Mrs. Jones? Would this not remove the generation skipping transfer tax? EXAMPLE: Upon her death, Mrs. Jones left her estate…
Choosing Appropriate Life Insurance
Sarah, a 40-year-old single mother with two dependent children, is looking for life insurance coverage to provide financial security for her family. She has a stable job with a salary of $80,000 per year, $50,000 in savings, and a mortgage balance of $250,000. Sarah wants a policy that offers the most affordable way to provide…
CFP Board Announces Retirement of CEO
CFP® Board Updates The CFP Board has announced that Kevin R. Keller, CAE, will retire as Chief Executive Officer on April 30, 2026, after nearly two decades of leadership. During his tenure, Keller played a pivotal role in transforming the CFP Board and elevating the financial planning profession. To ensure a seamless transition, the Board…
Premium Payments on Buy-Sell Agreements
Course: Insurance PlanningLesson 17: Business Uses of Life and Disability Insurance Student Question: I have a quick question regarding buy/sell agreement; not clear who would pay the premiums on disability and or life insurance on the principals and the key employees? Instructor Response: Great question. A buy-sell agreement relates to owners of the business while…
Reducing the Estate Tax
Michael, a 68-year-old widower, wants to ensure that his estate passes efficiently to his two children while minimizing estate taxes and avoiding probate. His estate is valued at $5 million, and he has a revocable living trust, a will, and a durable power of attorney. Which of the following strategies would be most effective in…