News & Updates
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…
Read MoreMaking 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…
Read MoreTax 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…
Read MoreCFP 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…
Read MoreThe Myth of Substantial Income Taxes on Social Security Benefits
Good to Know Social Security Retirement Benefits (SSRBs) can be as high as $55,000 or more annually for high-income clients who choose to delay benefits claiming until age 70. But here’s the big question—how much of that SSRB will the IRS siphon away? We have good news! Many clients will pay income tax on a…
Read MoreDoes Recommending Cryptocurrency Violate CFP Board Rules?
CFP® Certificants in the News You’re a CFP® Professional with an investment advisory practice and you just advised a client to purchase cryptocurrency assets (CRAs). Did you just violate the ethical standards? Should you expect a communication from the Disciplinary and Ethics Commission? Here’s the seemingly equivocal answer—maybe yes and maybe no. This article will…
Read MoreHow to Avoid a Killer IRA Mistake
Good to Know Choosing the wrong IRA type is an all-to-common client mistake that can be difficult and expensive to correct. Financial professionals can help clients avoid that mistake by fully informing their clients of the key factors to consider. There tend to be two schools of thought to avoid—in the author’s opinion—when choosing between…
Read MoreREMONDER: New “Per Capita” Fee for CFP Board Exam Takers Begins January 1
CFP® Board Updates NOTE: THIS IS A REPEAT OF LAST MONTH’S BLOG. WE WANT TO BE SURE EVERYONE IS AWARE OF THE NEW REQUIREMENT Students of our CFP Certification Education Programs are aware, but this may serve as a reminder, the CFP Board will begin charging the $195 “Per Capita” fee on January 1, 2023.…
Read MoreSavvy Year-End Tax Moves for Individual Taxpayers
Good to Know Time is running out for smart year-end tax moves. Yet, client concerns over economic and political turmoil can interfere with year-end tax planning. For example, how will the market perform given record inflation, the FED’s interest rate hikes, and the threat of recession? What will happen to tax rates and deductions in…
Read MoreSpeak Now or Forever Hold Your Peace
CFP® Certificants in the News “Certified Financial Planner Board of Standards, Inc. (CFP Board) announced…that it is seeking public comment on proposed changes to CFP Board’s Procedural Rules. The proposed changes are intended to modernize CFP Board’s enforcement processes and further CFP Board’s work to uphold its Code of Ethics and Standards of Conduct (Code and Standards) for the…
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