CFP Board to host Technology Standard Webinar

CFP® Board Updates On April 17, 2024, the CFP Board will host the “Guide to CFP Board’s Technology Standard” webinar. The webinar will provide a comprehensive breakdown of the recently released “Guide to CFP Board’s Technology Standard.  This guide is a resource to assist CFP® Professionals in complying with the “Duty When Selecting, Using and…

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The Myth of High Income Taxes on Social Security Income

Good to Know You and your clients are planning their after-tax retirement income. Your client is apprehensive about how much of their retirement income will be siphoned off by Federal income tax in retirement. For many, if not most, clients you have great news. The combination of Social Security income (SSI) tax breaks and standard…

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Economic Uncertainty and Client Outlook

CFP® Certificants in the News How will geopolitical conflicts, elevated inflation, staggering Federal deficits, and high interest rates impact client expectations for 2024?  Counterintuitively, a March 19, 2024 CFP Board news release announced an “overwhelmingly positive” client outlook for 2024. Referring to the pie chart below, over 9 of every 10 clients of CFP® practitioners…

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New CFP Board Sanctions and Guidelines

Good to Know CFP Board is changing the way CFP® Certificants and Candidates for CFP® Certification are disciplined (sanctioned) for violations of the Code of Ethics and Standards of Conduct. The new guidelines will be effective on July 1, 2024. In many cases the new potential sanction is more severe than previous sanctions but in…

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Golden Anniversary—CFP® Certification Turns Age 50

CFP® Certificants in the News According to a recent CFP Board article, “In 1973, the College for Financial Planning minted its first class of 42 trail-blazing men and women specifically trained in the professional discipline of financial planning. Half a century later, CFP Board certifies nearly 98,000 CFP® professionals in the U.S. That number will…

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Not All Sunsets Are Beautiful

Good to Know Income taxes and transfer taxes will rise—in some cases painfully—after December 31, 2025. Transfer taxes include gift, estate, and generation-skipping taxes. Income tax rates will increase and transfer taxes may rise as taxpayer friendly provisions of the Tax Cuts and Jobs Act (TCJA) expire (sunset) for years beginning on or after January…

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Financial Firms Account for Increase in CFP® Professionals

CFP® Board Updates New data from the CFP Board confirms recent trend of leading US firms adding more CFP® Professionals than ever.  There were 6,089 new Certificants in 2023, with 1,000 of those coming from Edward Jones alone.  In fact, four firms increased their number of CFP® Professionals by more than 200. The four leading…

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529 To Roth IRA Rollover

Good to Know Your prospect started saving for their child’s college education early and consistently. Fast forward to when the child graduates from college. Now it’s obvious there’s $35,000 in the 529 plan that will not be needed for college.  When they turn to you for advice, how do you advise them? Here’s an interesting…

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CFP® Certification—A Competitive Edge

CFP® Certificants in the News According to CFP Board, “more than 10,000 firms across the U.S. are employers of CFP® professionals, and with good reason.” The chart below testifies to the explosive growth of clients that prefer working with a CFP® Certificant in 2023, rising dramatically to over eight of every ten clients from only two…

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Student Loan Forgiveness Fraud

Good to Know The Federal Trade Commission cautions that “scammers might try and tell you they can help you avoid repayments, lower your payments, or get your loans forgiven — for a price.” That sage advice could not be more timely. Whenever there’s confusion over student loans and dishonest money to be had, scammers flock…

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