Benefit from the present installment of “Weekend Studying For Monetary Planners” – this week’s version kicks off with the information that CFP Board CEO Kevin Keller this week introduced his plans to retire and step down from his place on the finish of April subsequent yr. Throughout his practically two-decade tenure, Keller oversaw a near-doubling of the variety of CFP professionals, the institution of a brand new 501(c)(6) skilled group to advertise the advantages of economic recommendation and planning careers, and updates to the CFP Board’s investigation and disciplinary processes, amongst many different adjustments.
Additionally in trade information this week:
- Monetary Planning Affiliation CEO Patrick Mahoney died this week after a battle with most cancers, abandoning a legacy that features rejuvenating the connection between FPA Nationwide and its chapters
- A bunch of advisory commerce teams and broker-dealers have despatched a letter to Congressional committees requesting that the IRC Part 199A deduction (extra generally referred to as the Certified Enterprise Earnings, or QBI, deduction) be prolonged and expanded to take away the “specified service trades or enterprise” designation that limits the deduction for monetary advisors (and shoppers in sure professions) with revenue over designated thresholds
From there, we now have a number of articles on retirement planning:
- How advisors can incorporate a shopper’s Social Safety advantages into their broader retirement revenue technique to match shopper preferences for lifetime revenue and/or legacy pursuits
- Why a TIPS-based technique may very well be a sexy technique to meet shoppers’ ‘core’ spending wants whereas defending in opposition to future will increase in inflation
- Why RMDs can doubtlessly have an effect on protected withdrawal charges and the way advisors may help shoppers reduce any potential destructive results
We even have numerous articles on advisor expertise:
- How utilizing a “core and satellite tv for pc” method may help advisory corporations construct their tech stacks in an economical method
- The potential worth for corporations in auditing how they use their CRM software program, in addition to methods they will maximize its effectiveness
- One professional makes his picks for the ‘final’ advisory agency tech stack, overlaying a broad vary of AdvisorTech classes
We wrap up with three remaining articles, all about maximizing trip days:
- Why “limitless PTO” insurance policies can generally backfire and the way corporations can be certain that their PTO insurance policies mirror their objectives and permit staff to take enough time away from the workplace
- How linking PTO days to holidays and weekends can flip 15 days off into greater than 50 days of trip
- Why analysis into holidays and happiness means that incorporating novelty into (longer) holidays could make them extra gratifying
Benefit from the ‘gentle’ studying!
(Michael’s Word: It’s with a heavy coronary heart this week that we pay our respects and bid farewell to Patrick Mahoney, the CEO of the Monetary Planning Affiliation, who handed away this week after a protracted battle with most cancers. Patrick and his management was a breath of recent air for the FPA, as he labored proactively to restore the nationwide group’s relationships with each its inner chapters and exterior allies, refocus the group’s employees on supporting its chapters and its core (CFP certificant) member, and stabilize its membership after prior years of declines. It’s a tragic loss for the FPA that Patrick’s ongoing work was minimize brief, and he can be enormously missed. Farewell, Patrick.)
