Happy 2024 from the PFP EC and PFS CC chairs! {PFP Section}
AICPA Personal Financial Planning (PFP)
Release Date: 01/05/2024
Education Funding {PFP Section}
AICPA Personal Financial Planning (PFP)
In this episode of the AICPA Personal Financial Planning Podcast, host Cary Sinnett welcomes Dr. Ross Riskin, Chief Learning Officer at the Investments & Wealth Institute and author of Guide to Education Planning. They dive deep into education planning strategies, including the benefits and complexities of tools like 529 plans, the importance of multi-generational funding conversations, and how to align education savings with broader financial goals. Here are five key takeaways from the conversation between Cary Sinnett and Dr. Ross Riskin: The Value of Education Planning Education...
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Deeper CPA Financial Planning Connections | Celebrating 30 Years in the Industry {PFP Podcast}
AICPA Personal Financial Planning (PFP)
This milestone episode celebrates 30 years of professional growth and client success, highlighting the dynamic evolution of the financial planning profession and the firm’s commitment to innovation and excellence. Five Key Takeaways: The Evolution of a Career in Financial Planning: Growth and succession is vital for a long-lasting impact. Lyle Benson introduces his son Chris. Chris Benson shares his journey from aspiring engineer to CPA financial planner, highlighting the pivotal moments that shaped his career, including his transition from a large CPA firm to the family firm. The Critical...
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The Power of Client Communication: 4S Framework for Financial Planners {PFP Podcast}
AICPA Personal Financial Planning (PFP)
In this episode, Cary Sinnet and Mark Gochnour explore how effective communication builds trust and sets financial planners apart. Mark introduces the 4S Framework—a powerful tool for connecting with clients and simplifying complex concepts. Key Takeaways Why Communication Matters: Builds trust, fosters engagement, and differentiates you from competitors. Avoid overloading clients with technical jargon or unnecessary details. 4S Framework for Communication: Scripts: Prepare and practice concise responses to common questions. Stories: Share personal anecdotes to build emotional...
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Understanding Bitcoin: A CPA's Perspective {PFP Podcast}
AICPA Personal Financial Planning (PFP)
Mark Astrinos and David Oransky discuss Bitcoin's role in modern investing, addressing its speculative nature, practical uses, and potential as a long-term store of value. They explore how advisors and clients can approach Bitcoin thoughtfully, balancing skepticism with understanding. Key Topics Covered: Foundations of Investing: Saving vs. investing and the speculative nature of all assets. Bitcoin’s similarities to "digital gold" and its unique network benefits. Bitcoin’s Role in Portfolios: How Bitcoin compares to traditional assets like stocks, bonds, and gold. Its potential as...
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Talking about Medicare {PFP Podcast}
AICPA Personal Financial Planning (PFP)
Jim Sullivan from Pay4Care.org discusses significant changes to Medicare’s prescription drug coverage in 2025, particularly regarding the Medicare Part D plans and Medicare Advantage plans with drug coverage. Jim discusses key 2025 changes to Medicare Part D, including a new $2,000 out-of-pocket maximum for prescription drug costs. Beneficiaries can now opt for the Medicare Prescription Payment Plan, allowing them to spread out deductible payments monthly to ease early-year costs. The...
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Intersection of Health and Financial Planning {PFP Podcast}
AICPA Personal Financial Planning (PFP)
In this episode of the AICPA Personal Financial Planning Podcast, Cary Sinnett interviews Dr. Carolyn McClanahan, a physician and financial planner, on the importance of addressing healthcare in financial planning. They discuss how health and financial wellbeing are deeply intertwined, especially when planning for long-term care, aging, and unpredictable health events. Dr. McClanahan emphasizes the importance of having early conversations about healthcare plans, estate directives, and the costs of care to ensure families are prepared. How can financial planners integrate health-related...
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Deeper CPA financial planner connections with Marianela Collado {PFP Section}
AICPA Personal Financial Planning (PFP)
In this episode of "Deeper CPA Financial Planning Connections," Lyle Benson interviews Marianela Collada, CEO of Tobias Financial Advisors, about her career journey, the growth of her firm, and her role on the PFP Executive Committee. Marianela discusses her experience working with high-net-worth clients, the importance of estate and tax planning, and her approach to growing the firm's team and capabilities. She emphasizes the significance of proactive planning, developing new leaders within the firm, and her optimism for the future of the financial planning profession. How does proactive...
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Changes and clarifications with the SECURE Act final regulations {PFP Section}
AICPA Personal Financial Planning (PFP)
Expert Bob Keebler, CPA PFS, breaks down the final regulations of SECURE Act 2.0. Difficult RMD questions are answered and complexities explained. What is the difference between RMD rules for an IRA owner who dies before their required beginning date (RBD) versus after their RBD under the SECURE Act? Who qualifies as an Eligible Designated Beneficiary (EDB), and how are they treated differently under the SECURE Act when it comes to distributions? What is the significance of the 327 Election for surviving spouses with a significant age gap, and how does it impact the timing of...
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Practical tips to help clients with unintended early withdrawals from 401(k) plans {PFP Section}
AICPA Personal Financial Planning (PFP)
In this podcast, Kelley Long, a CPA financial planner, discusses two overlooked 401(k) scenarios that can lead to unexpected taxes or penalties: when someone leaves their job with an outstanding 401(k) loan, and when an employee's contributions are refunded due to plan testing failure. Kelley explains how to avoid penalties by making loan payments into a rollover IRA before the tax return deadline and highlights the importance of identifying whether a 401(k) plan is safe harbor to prevent contribution limits for highly compensated employees. Questions answered: What happens if I leave...
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Deeper CPA Financial Planner Connections, Lyle Benson {PFP Podcast}
AICPA Personal Financial Planning (PFP)
Lyle Benson and his guests discuss how the upcoming AICPA Personal Financial Planning (PFP) Summit scheduled for January 2025 in Charlotte, North Carolina promotes the importance of networking and deepening our peer relationships. This 9th annual PFP Summit is an example of how connecting with other leaders through deep discussions on mutually beneficial topics can benefit both individuals and the CPA financial planning profession. Lyle’s conversation with guests includes these topics (and more) and how PFP Summit addresses them: Finding an environment where professionals can engage deeply...
info_outlinePFP Executive Committee (PFP EC) chair, Brooke Salvini, CPA/PFS, and PFS Credential Committee (PFS CC) chair, Oscar Vives, kick off the New Year in this episode of the PFP Section podcast. They answer the following questions:
- What did you learn in 2023 that was meaningful to you personally and professionally?
- What were the PFS CC and PFP EC milestones in 2023?
- What is the PFP Division celebrating in 2024?
- What are the focus areas for the committees in 2024?
- What is your favorite PFP Section resource?
- What are you looking forward to personally and professionally in 2024?
Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.
- Join your AICPA PFP community at the next PFP Summit in Austin, TX January 15th through 18th.
- Learn more about the PFP certificate program, the PFS experienced track, and PFS Live!
- Apply to become a PFP Champion.
- Join the emerging leaders Slack channel.
- Save the date for ENGAGE PFP and Creating Your CPA Financial Planning Practice Workshop.
- Download the latest Adviser’s Guide to Financial & Estate Planning and find other PFP Section benefits.
- Hear more about the PFP Division history and 2024 milestones in our history and future podcast part 1 and part 2.
- Listen to the Deeper CPA financial planner connections series to hear success stories from other members in your PFP community.
This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.
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