News & Updates – Page 11 – Online CFP Program

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…

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…

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…

CFP Professionals Highly Satisfied With their Career

CFP® Board Updates A 2023 Survey of CFP® Professionals shows overwhelming satisfaction with their career choice. Furthermore, they fully believe the certification has a positive impact on their career. 87% of CFP® Professionals are satisfied with their career 89% are satisfied with their decision to pursue CFP® Certification An overwhelming 86% would recommend others pursue…

Relationships, Psychology, and Financial Issues

Good to Know CFP Board’s focus on the psychology of financial planning led to a new domain topic— The Psychology of Financial Planning. Our focus in today’s article is on financial tensions in relationships. According to The Practitioner Resource Guide (Guide) offered by CFP Board, three common relationship tensions include Financial Enabling, Financial Control, and,…

CFP Board Supports Expansion of Fiduciary Duty

CFP® Certificants in the News The Employee Retirement Investment Security Act of 1974 (ERISA) pioneered desperately needed reforms for employer provided retirement plans. As just one example of pre-ERISA abuses, some employers required lengthy vesting requirements and—in a flagrantly deplorable practice—terminated employees before they became vested to avoid paying pensions. Fifty years ago, ERISA rode…

CFP Board Announces 2023 Academic Research Colloquium Winners

CFP® Board Updates The CFP Board Center for Financial Planning held the 7th annual Academic Research Colloquium for financial planning and related disciplines. It was held December 7-8, 2023 at the Renaissance Arlington Capital View Hotel in Arlington, VA. The colloquium is an international meeting of researchers, practitioners, graduate students and leaders of the financial…

Artificial Intelligence in Insurance

Good to Know The promise of AI must be tempered by the responsibility for its use by insurance companies according to a guidance bulletin published December 4 by the National Association of Insurance Commissioners (NAIC). According NAIC Commissioner Birrane, “This initiative represents a collaborative effort to set clear expectations for state Departments of Insurance regarding…

When Do Gen Z, Gen X, and Millennial Investors Seek Financial Advice?

Good to Know “Advisors may need to connect to younger prospects on social media and tailor services to such life events as marriage, buying a home or starting a family, according to a recent survey…” according to a recent article published by Financial Advisor IQ. The article was based on a survey of 1,000 investors…

Are You Displaying Your CFP® Mark Correctly?

CFP® Certificants in the News Take this quick quiz to test your knowledge of CFP Board’s expectations of your use of the CFP® mark. For every use of the mark below, determine which is compliant. Note that question number 1 in our previous article was based on an accidental and incorrect posting by CFP Board.…