CPAs and Personal Financial Planning

Welcome to the AICPA Personal Financial Planning Podcast, hosted by Cary Sinnett. In this episode, Cary is joined by Brooke Salvini, Chair of the Personal Financial Planning (PFP) Executive Committee, and Oscar Vives, Chair of the PFS Credential Committee. Together, they dive into pivotal advancements in CPA financial planning, including the integration of Personal Financial Planning into the CPA exam, updates to PFP standards, and the evolving role of technology and artificial intelligence in the profession.

Key Discussion Points:

1. Introduction and Guest Backgrounds
   • Brooke shares her tenure as Chair of the PFP Executive Committee and the dynamic changes during her leadership.
   • Oscar highlights his leadership role in the PFS Credential Committee and his experience in financial planning since 2007.
2. Major Milestones in 2024
   • Launch of the new CPA exam featuring Personal Financial Planning topics.
   • Simplified pathways for earning the PFS credential, including express routes for experienced professionals.
3. Outlook for 2025 and Beyond
   • The impact of rapidly advancing technology and artificial intelligence in financial planning.
   • Updated roadmaps to help CPAs incorporate financial planning into their services, regardless of their current practice model.
   • Enhancements to PFP standards to keep pace with the evolving profession.
4. Personal Financial Planning Engagements
   • Redefining financial planning to include services such as retirement planning, tax strategies, and business structure advice.
   • Addressing misconceptions about investment management as a barrier to financial planning.
5. Exciting Developments for CPA Financial Planners
   • The upcoming PFP Advanced Conference, returning in January 2026, blending the best of previous summits and conferences.
   • Resources available at AICPA.org/PFP, including standards, templates, and the updated PFP roadmap for 2025.

Resources Mentioned:

• Visit aicpa.org/PFP for tools, resources, and updates.
• Understanding and applying the statement on standards in PFP services
• SSPFPS Pre-Engagement Checklist
• Explore the pathways to earn the PFS designation.
• PFS Credential
• PFS Infographic 
• PFP/PFS infographic
• Review the tax and planning calendar for quarterly service opportunities.
• Digging Deeper with your clients

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments welcomed at podcast@aicpa-cima.com