AICPA Personal Financial Planning (PFP)

With 30 million individuals living in the US who were born abroad and 8.7 million Americans living overseas in 180 countries, there’s a good chance you will be approached with cross border and international questions. In this episode of the PFP Section podcast, Global Financial Planning (GFP) Institute founder Ashley Murphy answers the following questions: What prompted you to start the GFP Institute? What do advisors need to know about international and cross border planning? When do you need additional education or an expert on your team to address these issues? What is unique about US citizens? What are pitfalls to look out for in these engagements? Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Increase your knowledge in U.S. international tax with the AICPA certificate. Visit the GFP Institute to find referral sources or to pursue additional education. 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 at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Learn how to engage clients with effective questions about their estate plan. Discover the importance of estate planning and the role of financial advisors in providing full tax advice. Understand the significance of including the next generation in estate planning and updating plans. Access valuable resources for further information and recommended articles.

Even if you’re not managing money for your clients, they likely look to you as their CPA to provide a sounding board and peace of mind when they see their hard-earned money in the hands of volatile markets. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, shares how she talks her clients off the ledge so that they don’t make decisions they regret or that aren’t in their long-term best interest. Kelley shares: Words of wisdom from Psychology of Money author Morgan Housel Why it’s not effective to get too technical and share statistics from the past when clients are emotional How to get clients out of their lizard brain and back into their pre-frontal cortex Strategies to help clients stick to their long-term investment and financial plan Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  How to have transformative conversations 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 at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Akemi Dalvi, CPA/PFS, began her career working in audit at PwC. She loved the idea of working more intimately with clients, so she took her dad’s offer to join his financial planning business in 2008 and has since taken over as President. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Akemi. She responds to the following questions: How did she create a niche practice to serve Japanese Americans? How did the pandemic lead to endless possibilities for attracting and retaining clients and staff? What allows her to spend her time on what she loves most? How does she build her knowledge and community of other advisors? What do her clients find most valuable about her service offering? Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  PFP and PFS members can get a taste of what the PFP Summit community is all about by joining us for a one-hour discussion on June 29th from 1 to 2 pm ET. Cameron Passmore and Jean-Luc Bourdon, CPA/PFS, will share their experiences with having client conversations about their personal finances in times of high inflation, rising interest rates, stock market volatility, and geopolitical uncertainty. 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 at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Dave Dyer, expert in oil and gas investments, joins Bob Keebler to discuss using oil and gas investments to offset passive losses. They explore the long-term prospects of the industry, the exceptional tax code opportunity for deductions, special treatment and liability insurance for general partners, tax benefits of oil and gas investments, and provide valuable resources on the AICPA PFP section website.

On April 27, 2022, the IRS released proposed regulations that provide further guidance to the anti-clawback regulations released in 2019. In this PFP Section podcast, Bob Keebler gets you back up to speed on what the 2019 regulations addressed and what you need to be mindful of with the 2022 regulations. He fills you in on how this new guidance applies to estate planning transfers such as notes, GRATs, GRITs, QPRTs, 2701 freezes, and transfers included in an estate. Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Read the proposed regulations. Go deeper into estate planning strategies with the PFP/PFS exclusive Adviser’s Guide to Financial & Estate Planning. 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 at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Newly proposed actuarial tables were released on May 5th to value annuities, life estates, remainders, and reversions. To guide you in how this impacts current estate planning transactions, Bob Keebler interviews Larry Katzenstein and Vince Lackner in this episode of the PFP Section podcast.  They discuss: The estate planning strategies impacted by the new tables Planning that may make sense to do before the new tables go into effect When to use the current tables and when to elect to use the proposed tables How to navigate these calculations in software programs like Number Cruncher and Tiger Tables Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Access the current and proposed tables. Go deeper into estate planning strategies with the PFP/PFS exclusive Adviser’s Guide to Financial & Estate Planning. Find Bob Keebler’s 2022 planning decision charts in the Proactive Planning Toolkit. 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 at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Scott Sprinkle, CPA/PFS, learned early in his career that financial planning was his passion because of the difference it made for his clients. He plays the role of financial quarterback, touching the ball with every interaction and decision. Tune in and gain ideas for your own practice as Lyle Benson, CPA/PFS, interviews Scott in this episode of the PFP Section podcast.  They discuss:   How Scott creates stickiness and long-term relationships with his clients How he balances doing tax, investment, and financial planning work for multiple generations What he did to access the network and learning he needed in a small firm environment His best advice for someone who wants to create a firm like his Scott’s prediction for the future of financial planning   Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.   Visit the landing page for Deeper CPA Financial Planner Connectionsto find other episodes in this series. Join your community of CPA financial planners at the Advanced PFP Conferenceat ENGAGE on June 6th through 8th. Attend the Tax and Financial Planning Workshopwith Scott and other CPA financial planners at the Aria or online on June 4th and 5th. For those who meet the requirements of the CPA/PFS experienced track, you can attend the PFS Live! Workshopon June 4th and 5th. Access resources to weave financial planning into your tax offerings.   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 at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Retirement is one of life’s most significant transitions because everything changes. Your career likely gives you connection to relationships, meaningful work, a steady paycheck, and a structure to follow. You can give peace of mind to your clients by helping them find purpose in life post retirement and providing guidance so that they don’t fear running out of money. Lauren Minch interviews Oscar Vives, CPA/PFS. They discuss: What having a greater purpose in life can help clients avoid The top 2 regrets of the dying that can guide how clients live now The history of the 4% rule and whether it makes sense to rely on this with your clients Balancing the risk of overspending and underspending Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Hear more from Oscar and other top experts at the upcoming PFP conference at ENGAGE on June 6th through 8th (attend in person or virtually). Access the AICPA PFP/PFS exclusive Adviser’s Guide to Retirement Planning. 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 at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

This time of uncertainty and market volatility may lead to an increase in clients making investment decisions that aren’t in their best interest. In this episode of the PFP Section podcast, Lauren Minch, CPA, CFA, interviews Kevin Grogan, CFA, to get his take on common trends he sees with many different types of clients. They discuss: Making decisions based on what happened recently versus based on the full history Measuring performance by comparing to the wrong benchmark How to communicate with clients who compare themselves to others How to avoid biases and noise with a good process Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.  Hear more from Kevin and other top experts at the upcoming PFP conference at ENGAGE on June 6th through 8th (attend in person or virtually). Access the AICPA/Fi360 guide, Prudent Practices for Investment Advisors. 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 at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.