Blog
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: …
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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…
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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…
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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…
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Successfully Prepare for Your Retirement Financially with These 5 Keys
Americans today know that they are less prepared for their retirement because they have been using their savings to pay for bills and other expenses. As a result, they are risking a delay in retirement or a financially insecure retirement. However, according to the Eleanor Blayney, CFP, a consumer advocate from Certified Financial Planner Board…
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The Importance of an Expert’s Advice
While the financial services market has grown and branched out into online investment firms and discount brokers over the last few years, many Americans still prefer the traditional face-to-face advice of financial professionals. In fact, since the recession hit and the economy has been slow to fully recover, there are indications that concerned Americans are…
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Winning by Being Different
We all like to think we’re the best at what we do. And maybe you are. But the Advisor down the street thinks the same thing. And the Advisor around the corner thinks he has the best customer service. The one in the next town over would say she has a higher rate of return. …
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The CERTIFIED FINANCIAL PLANNER™ (CFP®) Qualification
The clients of the Financial Planning Association (FPA) expect their planners to be holders of the prestigious CERTIFIED FINANCIAL PLANNER™ (CFP®) qualification. Even the planners themselves understand the importance of obtaining the title of a CFP. Being a CFP will improve the reputation of a planner and will potentially impact the quality of their business…
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A New Study Reports… Advisors with CFP® Certification Satisfy More Clients, Resulting in Increased Revenue
According to the Certified Financial Planner Board of Standards, Inc. (CFP Board), Advisors holding CERTIFIED FINANCIAL PLANNER™ (CFP®) designations provide a greater level of quality service to their clients, compared to those without the certification, resulting in higher client satisfaction. Higher client satisfaction in turn translates to increased revenue. This information is based on a…
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