News & Updates – Online CFP Program

How Have You Planned for Healthcare Costs in Retirement?

Good to Know The purpose of this article is to separate fact from fiction and help you motivate clients to plan, starting now, for the inevitable healthcare costs in retirement. We’ll start with good news—Americans are living longer. Average life expectancy increased by almost 10 years during the 50 years ending in 2010, according to…

CFP Board Announces Dates for 2023 Conference

CFP® Board Updates The 2023 CFP Board Conference will again be a combined conference of CFP Board Registered Programs and the Annual Firms Summit. Through combined sessions as well as firm and registered program specific tracks, conference attendees will have a special opportunity to meet, network, and share knowledge that advances their roles in and…

Taxpayer-Friendly Changes to Retirement Plan Penalties

Good to Know Distributions from Traditional IRAs and employer-sponsored retirement plans such as 401(k) plans are generally subject to a penalty for taking the money out too early (premature distribution) or too late (delayed distribution penalty). Secure Act 2.0 gives welcome penalty relief effective for tax years beginning on or after January 1, 2023. Terminal…

Your Smart Watch Can Void Your Passing Score on the CFP® Board Exam

CFP® Certificants in the News CFP Board’s recently revised PATHWAY TO CFP® CERTIFICATION AGREEMENT (PATHWAY) highlights key requirements for certification. We’ll address select topics contained within this CFP Board publication, beginning with when you can publicly represent yourself as a “Candidate for CFP® Certification. Candidate for CFP® Certification You can represent yourself in this manner…

3 Ways to Help Protect Against Income Tax Fraud

Good to Know You just received a letter from the IRS that doesn’t make sense. It may not be cause for alarm, but consider this—the letter may be a red flag for the potential theft of your confidential income tax information. Cybercriminals can use this information to wreck your finances, for example by: Taking out…

CFP Board Establishes 501(c)(6) to Focus on Workforce Development

CFP® Board Updates The CFP Board announced in January that they have established a new 501(c)(6) to help achieve their strategic workforce development priorities. The end result will be a 501(c)(3) called the CFP Board Center for Financial Planning and a 501(c)(6) called the CFP Board of Standards. Why are they taking this action? The…

Do You Really Need a Calculator for the CFP Board Exam?

Good to Know We’re financial professionals, right? So let’s analyze the question posed in this article’s title. The CFP Board exam (the exam) consists of 170 questions. Anecdotally, the average exam has from 8 to 12 calculation questions which rank from moderately difficult to highly difficult. It’s been said (but not by us!) that studying…

Making Sense of the Duty to Report Information to CFP Board

CFP® Certificants in the News Are CFP® Certificants obligated to report merely being charged with a felony or misdemeanor to CFP Board? How about being notified of a regulatory investigation or action? Read on to get the answers, based on CFP Board’s Duty to Report Information publication. Text in quotation marks is taken from this…

Tax Tips for 2023

Good to Know If you saw twenty-two $100 bills lying on the sidewalk and could not determine who the money belonged to, would you scoop it up? If your answer to that question is yes, we have good news. That much or more in federal income tax savings for 2023 could be possible. Clients may…

CFP Establishing Competency Standards Commission

CFP® Board Updates The CFP Board has announced they will be forming a Competency Standards Commission in 2023. The purpose of the commission will be to review and evaluate the CFP Board’s competency requirements for Education, Examination, Experience, and Continuing Education. The commission will be comprised of volunteers selected from financial services firms, educators, certification…