AICPA Personal Financial Planning (PFP)
Welcome to the AICPA Personal Financial Planning Section podcast. Follow us to receive unlimited access to free podcasts from nationally known experts on topics such as retirement, estate, tax, investment planning, and more. Visit us online at aicpa-cima.com/pfp to join our community and gain access to valuable member-only benefits.
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Education Funding {PFP Section}
01/09/2025
Education Funding {PFP Section}
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 planning remains highly valuable as it bridges generations, connects with next-gen clients, and addresses a significant knowledge gap among financial advisors. It also integrates with broader legacy and wealth transfer strategies. Importance of Multi-Savings Vehicles Financial planning for education isn't "one size fits all." Utilizing a combination of tools like 529 plans, brokerage accounts, and Coverdell accounts helps optimize funding, flexibility, and tax efficiency based on client priorities and state-specific tax benefits. Proactive Conversations Across Generations Successful advisors include grandparents, parents, and even extended family in funding discussions early on. Understanding their contributions and intentions (e.g., lump sums vs. future pledges) is critical for accurate projections and family alignment. Strategies for Leftover 529 Plan Funds Excess funds can be strategically used by transferring beneficiaries, repaying student loans (up to $10,000 per person), or rolling into Roth IRAs for beneficiaries to support retirement planning. Financial Aid and Investment Oversight Advisors must understand financial aid policies, tax considerations, and investment flexibility within 529 plans, especially during distribution years. Monitoring allocations ensures funds are managed efficiently to preserve capital in high-interest environments. Show Notes: Conclusion Dr. Ross Riskin reminds us that effective education planning requires proactive conversations, personalized strategies, and leveraging tools like 529 plans for tax efficiency, legacy planning, and beyond. For more resources: Explore the AICPA PFP Section: . Get your copy of to build your expertise. Thank you for listening! Don’t forget to follow the podcast for future episodes featuring expert insights on tax, estate, investment, and financial planning.
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Deeper CPA Financial Planning Connections | Celebrating 30 Years in the Industry {PFP Podcast}
12/20/2024
Deeper CPA Financial Planning Connections | Celebrating 30 Years in the Industry {PFP Podcast}
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 Role of Tax Planning: Tax returns form the foundation of the firm’s financial planning process. Tax strategy is woven into every aspect of wealth management, creating a seamless, cyclical approach to client service. Fixed Fees vs. AUM Model: The firm operates on a fixed-fee model, aligning services with client value while minimizing conflicts of interest, offering an alternative to traditional AUM-based fees. Technology Transforming the Profession: Advances in technology, such as digital systems and portfolio management tools, have revolutionized client service and firm efficiency. AI is seen as an augmentation tool rather than a replacement for human advisors. The Value of Community and Professional Networks: Active involvement in organizations like the AICPA and peer study groups has provided invaluable support, resources, and growth opportunities for both Chris and the firm. Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. in the Deeper CPA Financial Planner Connections podcast series. This episode is brought to you by the , 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 program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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The Power of Client Communication: 4S Framework for Financial Planners {PFP Podcast}
12/06/2024
The Power of Client Communication: 4S Framework for Financial Planners {PFP Podcast}
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 connections. Sketches: Use visual aids to explain concepts and engage clients. Supplements: Provide tangible materials to reinforce discussions. Actionable Insights: Tailor your language to clients’ needs and practice regularly. Join workshops at the AICPA PFP Summit in January to refine your storytelling and communication skills. Access resources and events 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. : January 26–29, 2025, at Dimensional’s Charlotte office. Explore communication resources at . , 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 program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Understanding Bitcoin: A CPA's Perspective {PFP Podcast}
11/22/2024
Understanding Bitcoin: A CPA's Perspective {PFP Podcast}
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 an inflation hedge and long-term store of value. Practical Applications: Bitcoin enables global, permissionless transactions and portable wealth. Its scarcity-driven dynamics make it appealing amid fiat currency concerns. ETFs and Adoption: Bitcoin ETFs simplify access for investors and advisors. Direct ownership offers unique benefits but requires technical knowledge. Key Takeaways: Advisors should educate themselves about Bitcoin’s potential as a legitimate asset class. Even a small allocation to Bitcoin may offer diversification and inflation protection. Start with reputable resources like Fidelity and BlackRock or AICPA's PFP Division materials. Resources Available: A three part deep dive into bitcoin is available: . A video with slides
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Talking about Medicare {PFP Podcast}
11/08/2024
Talking about Medicare {PFP Podcast}
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 Open Enrollment Period (Oct 15 - Dec 7) is a vital time for beneficiaries to review their plans, as many premiums, copays, and formularies will change, and some plans will be discontinued. Clients should be proactive since plans may automatically transfer them to a different plan if theirs is terminated, potentially impacting drug coverage and costs. Jim urges advisors to support clients in ensuring their coverage meets their healthcare needs, prioritizing both affordability and the quality of care provided. 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. Learn more on the latest proposals and regulations by accessing . You can also access Jim Sullivan’s on the AICPA website. A deep dive for advisors can be found in the .
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Intersection of Health and Financial Planning {PFP Podcast}
10/25/2024
Intersection of Health and Financial Planning {PFP Podcast}
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 conversations into their planning process, especially when clients are reluctant to discuss their health? What steps should families take to prepare financially and emotionally for potential long-term care needs, particularly when care costs can vary significantly between home care and assisted living? Why is it essential to have conversations about healthcare directives and long-term care preferences early, while everyone is still healthy? How can families plan for the financial impact of a loved one’s health event, especially when the timing and severity of such events are unpredictable? What role do tools like long-term care insurance, reverse mortgages, and hybrid life insurance policies play in safeguarding a family’s financial future in the face of rising healthcare costs? Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. Podcast: Guide: Podcast: This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Deeper CPA financial planner connections with Marianela Collado {PFP Section}
10/11/2024
Deeper CPA financial planner connections with Marianela Collado {PFP Section}
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 estate and tax planning benefit clients with a net worth between $7.5 million and $60 million? What strategies can financial planners use to provide personalized services to clients who are not ultra-wealthy but still require comprehensive planning? How can effective business succession planning enhance continuity and client service in a financial advisory firm? What are the benefits of incorporating a team-based approach in financial planning to address diverse client needs? How does integrating technology improve the efficiency and accuracy of financial planning processes for clients? Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. in the Deeper CPA Financial Planner Connections podcast series. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Changes and clarifications with the SECURE Act final regulations {PFP Section}
09/27/2024
Changes and clarifications with the SECURE Act final regulations {PFP Section}
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 distributions? How does the SECURE Act's treatment of Roth IRAs differ from traditional IRAs regarding post-mortem distributions and the 10-year rule? What tax penalties are introduced starting in 2025 for failure to comply with the new RMD rules, and how can financial planners develop strategies to minimize these penalties? Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Practical tips to help clients with unintended early withdrawals from 401(k) plans {PFP Section}
09/13/2024
Practical tips to help clients with unintended early withdrawals from 401(k) plans {PFP Section}
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 my job with a 401(k) loan? How can I avoid early distribution penalties after leaving my job? What is a "return of contributions" in a 401(k) plan? How does being a highly compensated employee affect 401(k) contributions? What is a safe harbor 401(k) plan, and why is it important? Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Deeper CPA Financial Planner Connections, Lyle Benson {PFP Podcast}
08/23/2024
Deeper CPA Financial Planner Connections, Lyle Benson {PFP Podcast}
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 with a blending expert presentations with participant discussions. Combining both larger interactive group discussions with informal and smaller gatherings that together can solidify long-term professional relationships. Prioritizing the on-going development of community that builds on the initial “study group on steroids,” experience and extends during the year with other formal and informal activities, such as the PFP Summit Presents virtual follow-up meetings. Carving out time to address broader themes providing challenges and opportunities in financial planning, such as leadership, succession planning, and emerging issues like artificial intelligence. The podcast highlights the PFP Summit’s unique approach to professional development and community building; looking forward to the new opportunities the 2025 event will offer. 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. in the Deeper CPA Financial Planner Connections podcast series. to be held in Charlotte, NC on January 26-29, 2025, with a current early bird registration discount. Attendance is limited to 120 people to encourage networking and interaction. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Digging Deeper with your Clients, Part 3 of 3 | {PFP Podcast}
08/09/2024
Digging Deeper with your Clients, Part 3 of 3 | {PFP Podcast}
In this final installment of Debra Taylor’s Digging Deeper series, she focuses on tax planning. After reviewing the importance of a structured service calendar and proactive client communication, she outlines five essential steps for effective tax planning and highlights 20 key tax planning strategies. This is an approach to broaden your tax planning to addressing the financial planning needs of your clients. Debra answers questions like these in the podcast: What are the five essential steps for effective tax planning? How can financial advisors use diagnostic software in tax planning? What are some key strategies for tax planning that advisors should consider? How can comprehensive tax planning benefit clients financially? Many of the PFP Section resources provide ideas on topics that can be discussed throughout the year including: Debra Taylor’s video archive Debra Taylor’s previous podcasts Digging Deeper with your Clients, and The is a great tool to get feedback from your clients on what is really important and can guide your conversations throughout the year This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Deeper CPA financial planner connections with Karen Goodfriend {PFP Section}
07/26/2024
Deeper CPA financial planner connections with Karen Goodfriend {PFP Section}
In this episode, Lyle Benson and Karen Goodfriend discuss Karen's journey as a CPA financial planner, highlighting her transition from corporate aspirations to a focus on personal financial planning. Karen emphasizes the importance of integrating psychological aspects with technical financial planning, especially for clients experiencing sudden wealth. In this episode of the PFP Section podcast, Lyle Benson interviews Kelley to share more of her story with our community. The conversation includes Karen’s experience and perspective on topics like: Benefits and opportunities of remote work Technology’s evolving role of technology and its impact on remote collaboration Importance of the supportive CPA financial planning community and mentorship Significance of maintaining a balance between technical expertise and client relationships The CPA financial planner’s role in the broader financial planning ecosystem Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. in this series. T Learn more about the for getting educated and attaining your CPA/PFS. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Digging Deeper With Your Clients, Part 2 of 3 {PFP Section}
07/12/2024
Digging Deeper With Your Clients, Part 2 of 3 {PFP Section}
As a follow-up to Debra’s webcast Planning for Clients with $1-15M in Net Worth, she discusses a much more organized approach for tax planning. A year-round planning calendar clearly shows how you apply tax planning to their financial decisions. The events encompassed in the calendar reinforce the key goals of a successful plan. As CPAs you talk tax planning, but here are ways to apply it with your client discussions that will allow you to be better organized, improve client retention and expectations and justify your fees. Debra answers questions like these and more: How can a year-round planning calendar improve client retention and team organization? What are the five key elements of a great financial plan? How do you differentiate your tax planning from the firm down the street? How does tax planning affect financial planning? Many of the PFP Section resources provide ideas on topics that can be discussed throughout the year including: Debra Taylor’s video archive is a 4-volume guide that serves as a reference for many client questions and strategies. The is a great tool to get feedback from your clients on what is really important and can guide your conversations throughout the year This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Estate planning for the TCJA sunset of the double exclusion amount {PFP Section}
06/28/2024
Estate planning for the TCJA sunset of the double exclusion amount {PFP Section}
In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS discusses strategies for estate tax planning in anticipation of the TCJA (Tax Cuts and Jobs Act) sunset on December 31, 2025. The sunset, which will reduce the double exclusion amount from approximately $14 million to $7 million and many practitioners will need to evaluate gifting for their relevant clients. Bob covers various techniques, including: Spousal lifetime access trusts (SLATs) and dynasty trusts, to ensure effective estate planning. The importance of cash flow planning, understanding portability rules, and careful trust design to avoid issues like the Reciprocal Trust Doctrine. Practical considerations such as timing of gifts, administrative preparation, and the use of private annuities for income. The need for thorough documentation and legal compliance to prevent estate inclusion and litigation. Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. article Upcoming webcast: included in PFP Section membership Video: This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Digging Deeper with your Clients, Part 1 of 3 {PFP Section}
06/14/2024
Digging Deeper with your Clients, Part 1 of 3 {PFP Section}
As a follow-up to Debra’s webcast Planning for Clients with $1-15M in Net Worth, she discusses some important practice management considerations. An annual financial planning service calendar structures the delivery of client services and communication and is the foundation for adding valuable client relationships. Debra advocates for a systematic approach to client service, ensuring transparency and predictability. She also discusses various fee structures, including AUM (Assets Under Management) fees and alternative payment arrangements, to ensure fair and flexible compensation for the services provided. Your fees reflect your professional value. Debra answers questions like: How can an annual service calendar help your client relationships? How can you charge for your planning services? How do you adjust for clients of different asset levels or extensive projects? Many of the PFP Section resources provide ideas on topics that can be discussed throughout the year including: Debra Taylor’s video archive is a 4-volume guide that serves as a reference for many client questions and strategies. The is a great tool to get feedback from your clients on what is really important and can guide your conversations throughout the year This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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How to navigate forks in the road with more clarity, focus, and ease {PFP Section}
05/24/2024
How to navigate forks in the road with more clarity, focus, and ease {PFP Section}
Life inevitably presents us with forks in the road, whether chosen or forced upon us. These transitions can be uncomfortable, requiring us to leave the familiar and step into the unknown. Whether guiding your clients through their life changes or experiencing your own, having a strategy can make these journeys less daunting. In this Deeper CPA Financial Planner Connections episode of the PFP Section podcast, Lyle Benson, CPA/PFS, CFP® interviews Andrea Millar, RLP®, PCC, CPA/PFS to share her expertise on navigating these uncertain times. Tune in to discover: What to anticipate during significant life transitions The primary source of struggle during periods of uncertainty Practical steps to transform these challenging moments into opportunities for growth and deep satisfaction Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. Listen to in this series. Tune into Susan Bradley’s podcast episode, . Join Andrea in her session at ENGAGE, . This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Money Dates (PFP Section)
05/10/2024
Money Dates (PFP Section)
A recent CNBC survey of couples discovers that 64% admitted to being financially incompatible. A money date is a relaxed and open conversation about finances and goals. This is an important component to financial compatibility and avoiding potential conflict. It can benefit relationships of any length and open channels of communication with transparency and respect. Dave answers questions like: What is a money date and why is it important? How can it help understand each other’s financial habits and attitudes? What are the places for combined and separate money in marriage? Does this concept work for both newly engaged and long-term couples? Many of the PFP Section resources provide ideas on topics that can be discussed in this manner including: The Life Events section of provides conversation ideas relating to clients’ current or future situations. The new help you talk clients through potentially stressful situations. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Valuing life insurance policies for gift tax returns {PFP Section}
04/26/2024
Valuing life insurance policies for gift tax returns {PFP Section}
As we narrow in on the sunset of the Tax Cuts and Jobs Act, many practitioners will be suggesting that their relevant clients make gifts. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, and Larry Brody, JD, discuss what needs to be known when valuing life insurance policies for the purpose of filing gift tax returns, including: What do we need to know about the IRS regulations? Can you get a valuation in lieu of relying on the IRS regulations? What value should be used when given a series of values on Form 712? What if you don’t agree with the Form 712 values? For more resources related to this episode: Access Bob’s decisions charts in the . Use the for other planning ideas as we head into the sunset of TCJA. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Strategies to draw down excess 529 funds {PFP Section}
04/15/2024
Strategies to draw down excess 529 funds {PFP Section}
The SECURE 2.0 Act opened new doors for the use of 529 plan funds. Kelley Long discusses the impact of the changes on strategies available to clients using 529 plans. Not only does Kelley review the rules of rolling 529 plan funds to Roth IRAs, but also takes a step further to address the numerous related questions she has gotten on this strategy and other creative ways to draw down 529 plan funds. In this episode of the PFP Section podcast, Kelley will provide the information you need to discuss how 529 plans can fit into your clients’ financial plans. The conversation includes the following topics: How to handle beneficiary changes. How to equalize the distributions from excess funds in 529 plans. How to evaluate the 15-year measurement when transferring 529 funds to Roth IRAs. How does a transfer of funds from one beneficiary to another impact the 5-year rule? What is a backdoor 529 to Roth transfer? Can a mature client contribute 529 plans with the intent to roll the funds to a Roth IRA? What are the penalties for 529 non-qualified withdrawals? What are some other ways to draw down excess funds in a 529 plan? How taking out a student loan can be a strategy Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. Read Kelley’s article: Related podcast: Use the related resource guide or . Learn more about the for getting educated and attaining your CPA/PFS. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Deeper CPA financial planner connections with Kelley Long {PFP Section}
03/22/2024
Deeper CPA financial planner connections with Kelley Long {PFP Section}
Kelley Long began her career in big 4 accounting like so many other CPAs. However, she had to quickly shift her path with the fallout that happened after September 11, 2001. Her roles as a bank trust officer and as a workplace financial wellness provider led her to her passion for coaching on the everyday money issues that clients have. In this episode of the PFP Section podcast, Lyle Benson interviews Kelley to share more of her story with our community. The conversation includes the following topics: How did Kelley go from where she was to where she is now, doing her passion work as a financial coach. How did being a member of AICPA’s Financial Literacy Commission impact Kelley’s work? What are Kelley’s thoughts on working in a remote or hybrid environment? What does Kelley want every CPA to know about HSA planning? What does Kelley enjoy doing most and how does she make sure her time and energy are aligned with this? How does Kelley view the future of CPA financial planning? Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. in this series. Read Kelley’s article, - Journal of Accountancy. Learn more about the for getting educated and attaining your CPA/PFS. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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The best and worst things you can do with insurance – Part 2 {PFP Section}
03/08/2024
The best and worst things you can do with insurance – Part 2 {PFP Section}
In part 2 of this PFP Section podcast series, experts Lee Slavutin, MD, CLU, and Marty Shenkman, CPA/PFS, JD, LLM share planning details to help you guide your clients in the following areas: The different perspectives on long term care (LTC) insurance that goes beyond the numbers to the psychological benefits. Why it makes sense to have every client go through the process of evaluating LTC insurance, whether they buy it or not. The importance of understanding the nuances of SLATs and SLANTs in the context of filling the gaps with LTC coverage. Avoiding the consequences of not evaluating the beneficiaries for insurance and retirement plans. The nuances that need to be understood with life insurance and buy sell agreements. Understanding the transfer of value issue and how to make sure there aren’t unintended consequences. For more resources related to this episode: Access our new PFP Section member exclusive guide on . Find our life insurance summary and review roadmap and other here. Check out the AICPA’s Risk Management and Insurance Planning , that is also a step on the path towards becoming a CPA/PFS. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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What to beware of with QTIP trusts {PFP Section}
02/23/2024
What to beware of with QTIP trusts {PFP Section}
Qualified terminable interest property (QTIP) trusts were created so that spouses could receive the benefit of the marital deduction while also setting aside resources for a surviving spouse and retaining control over what happens to the funds when the surviving spouse passes away. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, and Paul Hood, JD, LLM, discuss the nuances of QTIPs, including: The confusion is caused by the separate Internal Revenue Code provisions on the estate and gift side. On the estate side, the rules are lax. And, on the gift side, they are rigid. How can a buy/sell agreement interfere with the efficacy of a QTIP trust and what to watch out for to make sure this doesn’t happen. What do QTIP limits like fiduciary income to the surviving spouse mean from a family harmony, efficient trust and estate administration, and a fiduciary income accounting perspective. What’s the bottom line as CPAs prepare gift tax returns that involve QTIPs in 2024. For more resources related to this episode: Send your relevant clients this to educate them on QTIP trusts. Use the Adviser’s Guide to Financial & Estate Planning volumes , , , and as a reference for planning with QTIP trusts and much more. Get the basics of estate planning with our . This is one of 5 certificates that leads to attaining the PFS credential when experience and other requirements are met. Access Bob’s decisions charts in the . This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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The evidence-based qualities of admired advisors {PFP Section}
02/09/2024
The evidence-based qualities of admired advisors {PFP Section}
Do you want to be the trusted advisor who makes a meaningful difference in your client’s life? One of the ways to do this is to get in touch with the qualities of being that you want to demonstrate consistently with your clients. In this episode of the PFP Section podcast, Steve Atkinson, Managing Director with Admired Leadership, shares the behaviors that admired advisors have that separate them from the pack. Steve answers the following questions: Tell us about your prior experiences that gave you insights into how the most admired advisors show up for their clients. What is Admired Leadership and how is it evidence-based? Share some of the behaviors that are seen consistently in the research. How do these high performing admired advisors avoid burnout? What do you suggest to CPA financial planners who are overloaded with work? What’s your top takeaway for listeners? For more resources related to this episode: Register for workshop so that you can learn from others who have paved the path. Access the . Listen to the . This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Deeper CPA financial planner connections with Dr. Moon and Lyle {PFP Section}
01/26/2024
Deeper CPA financial planner connections with Dr. Moon and Lyle {PFP Section}
The tables are turned on Lyle Benson, CPA/PFS, in this episode of the PFP Section’s Deeper CPA Financial Planner Connections series. Dr. Haesun Moon, communication scientist, educator, and author, interviews Lyle to pull out the gold threads of his professional story. They discuss: Lyle’s story of beginning in tax and his why behind diving into financial planning at age 29 and starting his own firm at the age of 36. How leaders in the profession became mentors early in Lyle’s career and how this community connection has been the foundation throughout his career. What it’s like to be in a family business with Lyle’s son, Chris, and how this can help others who are in family businesses. How Lyle is transitioning and transforming to his next life stage. The changes that Lyle has seen in the CPA financial planning profession over the last 30 years and what has stayed constant. How his firm is evolving to meet the needs of the next generation. How Lyle weaves his role as host and human connector through his professional and personal life. Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. in this series. Save the date for where you will find the most technically advanced learning in PFP, tax, and estate planning. Save the date for in advance of ENGAGE on June 2nd. Save the date for in advance of ENGAGE on June 2nd. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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The why, what, and how behind legacy planning for your clients {PFP Section}
01/19/2024
The why, what, and how behind legacy planning for your clients {PFP Section}
CPA financial planners help clients live meaningful lives and pass on their legacy. Often, estate planning is heavy on the practical and complex elements that can be seen as the housekeeping of who gets what and when. What we don’t always explore is the deeper why behind the estate planning. The good news is that you can coach clients to discover their legacy so that it can be communicated and so that your client can see the meaning of their life story and what they want to leave behind. Jean-Luc Bourdon, CPA/PFS, guides you in how to take on this role in this episode of the PFP Section podcast. He discusses the following: What legacy is, why it’s so important, and why it’s not optional Understanding the difference between the default, political, and organic legacies How to guide your clients to discover meaning, purpose, and legacy A client example where Jean-Luc illustrates how to have this conversation The enormous amount of research behind the benefits of reflecting on life How to integrate legacy planning into your work with clients for the list of resources mentioned during the podcast. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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The best and worst things you can do with insurance – Part 1 {PFP Section}
01/12/2024
The best and worst things you can do with insurance – Part 1 {PFP Section}
Proper insurance planning is one of the most overlooked areas of personal financial planning. In part 1 of this PFP Section podcast series, experts Lee Slavutin, MD, CLU, and Marty Shenkman, CPA/PFS, JD, LLM share planning details you will want to know, including: Buying the adequate amount of life insurance Using whole life insurance as a way to save, to diversify client portfolios, and to protect assets How to protect against a fraudulent conveyance Buying insurance from highly rated companies Making sure disability insurance needs are not overlooked For more resources related to this episode: Find our life insurance summary and review roadmap and other PFP Section . Check out the AICPA’s , that is also a step on the path towards becoming a CPA/PFS. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Happy 2024 from the PFP EC and PFS CC chairs! {PFP Section}
01/05/2024
Happy 2024 from the PFP EC and PFS CC chairs! {PFP Section}
PFP 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 to access show notes with direct links. Join your AICPA PFP community at the next in Austin, TX January 15th through 18th. Learn more about the , the , and Apply to become a . Join the emerging leaders . Save the date for and Workshop. Download the latest and find other benefits. Hear more about the PFP Division history and 2024 milestones in our history and future podcast and . Listen to the series to hear success stories from other members in your PFP community. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Deeper CPA financial planner connections with Jim Shambo {PFP Section}
12/29/2023
Deeper CPA financial planner connections with Jim Shambo {PFP Section}
Jim Shambo is one of the pioneers of the CPA financial planning profession, the PFP Section, and the PFS Credential. He has a lot of insight to offer on many topics that can be useful takeaways for listeners. In this episode of the Deeper CPA financial planner connections PFP podcast, Lyle Benson facilitates a discussion with Jim to share the highlights of his story. The conversation includes the following topics: How Jim decided to focus on personal financial planning after beginning his career in tax How Jim and a few of his peers laid the foundation for what we have today with the PFP Section and the PFS credential What Jim learned in college that led to his success in his firm, in his service for clients, and as a volunteer for AICPA What approach Jim takes with investing and how his relationship with Vanguard’s John Bogle influenced him How Jim planned for a successful retirement and sale of his business How using the creative side of his brain has been Jim’s secret to a life well lived Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit to access show notes with direct links. in this series. Save the date for where you will find the most technically advanced learning in PFP, tax, and estate planning. Save the date for in advance of ENGAGE on June 2nd. Save the date for PFS Live! (registration coming soon) in advance of ENGAGE on June 2nd. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Inherited IRA RMD clarity for 2023 and 2024 {PFP Section}
12/22/2023
Inherited IRA RMD clarity for 2023 and 2024 {PFP Section}
Ed Slott, CPA, and Bob Keebler, CPA/PFS, discuss the complicated inherited IRA RMD rules and what is required in 2023 and 2024 in this episode of the PFP Section podcast. Ed and Bob provide clarity in the following areas: An easy formula to use to get clear on all of the elements that need to be considered The only scenario in which penalty relief is available when the RMD is not taken Who must take RMDs in years 1 through 9 under the 10-year rule and who can wait until year 10 When does the 5-year rule apply What happens when a ROTH IRA is inherited For more resources related to this episode: Check out Bob’s IRA distribution flowcharts in the . This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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Crucial issues related to disability and long-term care insurance {PFP Section}
12/15/2023
Crucial issues related to disability and long-term care insurance {PFP Section}
150 million Americans live with chronic illness. And yet, disability and long-term care (LTC) insurance are often overlooked in planning with clients. In this episode of the PFP Section podcast, experts Lee Slavutin, MD, CLU and Marty Shenkman, CPA/PFS, JD, LLM share the most important considerations for client planning, including: What three riders are important to have on a disability insurance policy Why the exercise of determining the impact of disability on a family’s finances is critical Why you need to reassess disability, life insurance, and LTC insurance as part of estate strategies being done ahead of the TCJA sunset Who benefits most from LTC and what are the types to consider The importance of considering the human side (aka emotional side) of planning with these decisions For more resources related to this episode: Check out the AICPA’s , that is also a step on the path towards becoming a CPA/PFS. This episode is brought to you by the AICPA’s , 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 , which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us to join our community, gain access to valuable member-only benefits or learn about our . Subscribe to the PFP Podcast channel at to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.
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