Running the Numbers

Jun 10, 2019 6:00am ‐ Jun 10, 2019 6:50am

Identification: EST19ER01

While the increased estate tax exemption has virtually eliminated all taxpayers from being subject to the estate tax, there are still some non-estate tax reasons for engaging in various estate planning techniques. During this session, we will discuss the following estate planning techniques and outline ways to make them more effective.

  1. Tax exclusive nature of gift taxes
  2. Leveraging of the GST exemption
  3. Grantor Retained Annuity Trusts (GRATs)
  4. Installment sales to Intentionally Defective Grantor Trusts (IDGTs)
  5. Self-Canceling Installment Notes (SCINs)
  6. Private annuities

Learning Objectives include:

1. Understand the importance of running the numbers in developing and communicating planning techniques for clients
2. Discover ways to minimize income, estate and gift taxes
3. Recognize methods to maximize benefits to children and family
4. See how to take full advantage of the currently low interest rates


Basic Estate Planning Q&A

Jun 10, 2019 6:00am ‐ Jun 10, 2019 6:50am

Identification: EST19ER02


Protecting the Privacy of Critical Data (NAA, FIN)

Jun 10, 2019 6:00am ‐ Jun 10, 2019 6:50am

Identification: NAA19ER01

An organization's data is oftentimes thought of as its most valuable asset, yet many entities struggle when it comes to protecting that data. This is especially true when it comes to the personally identifiable data of customers, trading partners, and employees. This session will explore the topic of data protection anhttps://aicpaconferences.com/aicpa/admin/sessions/38773/edit/1118#d provide attendees with a greater appreciation of the potential difficulties one may encounter when attempting to create a data protection strategy, data handling procedures, control activities, and the types of technical tools available in the market about which CPAs should be aware.

Learning objectives:

  1. Leave participants with an in-depth understanding and increased appreciation of the challenges organizations face when designing and implementing a robust data protection strategy and methods.
  2. Provide participants with recommended steps for identifying an organization's critically important and most valuable data, identifying the types of controls that can help protect the integrity and privacy of that data, and technologies available in the market that can help prevent and detect data breaches and related data losses.

CECL Implementation

Jun 10, 2019 6:00am ‐ Jun 10, 2019 6:50am

Identification: NAA19ER02

This session will provide an update on the status of CECL, and the evolving best practices related to the implementation, integration and internal control being utilized to achieve a proper transition from current GAAP to the new standard.

You will receive critical information related to:

The necessary team members that need to be involved; impact in your internal controls; critical elements when using a third party; and how to discuss the new model with your auditors.

Learning objectives:

  1. Achieve a better understanding of the various methodologies in place under the new guidance.
  2. Achieve a better understanding of how the new CECL model can impact your ICFR environment for SOX purposes.

Planning for Health Care Costs in Retirement

Jun 10, 2019 6:00am ‐ Jun 10, 2019 6:50am

Identification: PFP19ER01

Academics and industry experts have placed a spotlight on health care costs that US households can expect to incur during retirement. Most Americans understand that annual heath care costs have been growing faster than inflation, and they are also cognizant that they will likely consume more health care services as they age. As a result, pre-retirees and retirees are concerned about how health care costs will impact their retirement, and how they will pay for them. To better understand the financial planning implications of annual health care costs and long-term care expenses, Vanguard has partnered with Mercer Health and Benefits to develop a proprietary model to forecast the range of health care costs for pre-retirees and retirees. This session will address the research and planning considerations for health care and long-term care expenses in retirement.

Learning Objectives:

  1. The participant will gain an understanding of the new model developed by Vanguard and Mercer Health and Benefits forecasting health care costs for US retirees. The model proposes several changes to the way health care costs are typically discussed and modeled when planning for retirement.
  2. In addition, the session will emphasize the considerations impacting the annual health care costs including health status and risk, employer subsidies, Medicare coverage choices, retirement age, geography and income in retirement.
  3. Lastly, long-term care costs represent a unique and distinct planning challenge that should be taken into account separately.

Alternative Fee Structures

Jun 10, 2019 6:00am ‐ Jun 10, 2019 6:50am

Identification: PFP19ER02

In this session, we will build on the session from last year, where we examined an approach to improving the link between fees and value. The approach to pricing innovation depends on the target client segment. Advisers looking to target non-traditional clients (e.g. younger clients, clients who wish to manage their own assets) must innovate on the price metric. Advisers who wish to remain focused on traditional HNW clients have to work harder to define and regulate the value they deliver to clients of different sizes. In this session, we will summarize our latest thinking on these two approaches, including a summary of the key points that advisers must consider when undertaking innovations of this kind. Learning Objectives:

  1. Understand the options open to advisers who want to take an innovative approach to linking fees and value.
  2. Learn the key considerations involved in each alternative pricing strategy.

Integration of Behavioral Finance with Options

Jun 10, 2019 6:00am ‐ Jun 10, 2019 6:50am

Identification: PFP19ER03

Financial advisors have long used options to create specific outcomes for clients, whether they be income-oriented or to protect capital. This session will focus on how specific strategies and simplifying complex concepts can be useful in shaping investor behavior. 

Learning Objectives:

  1. Explain how options can create defined outcomes in portfolios
  2. Identify strategies that positively influence investor behavior

The Truth About Annuities: Dispelling the Myths and Misconceptions - Sponsored by Prudential Annuities

Jun 10, 2019 6:00am ‐ Jun 10, 2019 6:50am

Identification: PFP19SS02

Annuities have had their share of detractors over the years. The reality is annuities currently serve a critical purpose for millions of Americans – adding a level of security, while helping alleviate some of the financial worry for the future. This presentation will address:

  1. Common objections to annuities including cost, complexity, liquidity and tax considerations.
  2. The benefits of annuities including a discussion of some of the protective features offered by annuities today.
  3. The value of incorporating guaranteed income into a comprehensive retirement income plan.

Learning Objectives:

  1. Provide several actionable talking points to help advisors understand and overcome common objections to annuities and start the important conversation about retirement income planning.
  2. Help inform investors to be in a better position to determine whether an annuity makes sense as part of their overall financial plan.

Talent Management Workshop: Evaluate & Update Your Organization's Talent Management Plan

Jun 10, 2019 7:00am ‐ Jun 10, 2019 11:00am

Identification: FMA19101

Most accounting firms (and all businesses in general) have a clear understanding and plan for their operational strategy. However, when asked if they have a clear strategy regarding their human capital more than 80% say they have 'no plan" or "very little of a plan" (e.g., they may have a staffing plan or do some sort of succession planning). Yet, when asked how important their people are to the ongoing, long-term success of their business the overwhelming response is, “critically important.” Thus, there is a large disconnect between the practice of talent management and its idealized state. Accordingly, this session helps organization leaders understand the the robust nature of talent management and how they can begin thinking and creating a more strategic approach to the acquisition, engagement, development, and retention of their most valuable asset – their people. During this session participants will explore a framework that they can use to immediately begin assessing their own organization in terms of talent management without over-engineering the process. Participants will be intellectually stimulated to think about the people-side of their business in a more comprehensive and deeper manner; thus, positioning themselves to identify areas of enhancement that drives their operational strategy. The final product of this workshop will be a completed audit of your firm's talent management practices and recommended action plan to be presented to your firm's most senior leaders.

Learning Objectives:

  1. Discover a Talent Management framework that facilitates a deeper and more comprehensive analysis of your organization’s human capital
  2. Explore why, and how, hiring the right person (i.e, talent acquisition) the first time using validated instruments increases productivity and drives employee retention – as well as how bad hires waste money
  3. Once the right person is hired, we explore how to get them engaged (i.e., talent engagement) so that they work hard for you, get along with others, and become loyal (which mitigates turnover)
  4. Once you hire the right person and then get them engaged, you will explore ways to develop (i.e., talent development) your people so that they can build their talents into strengths and apply them to the job – this is the number one driver of employee retention
  5. Explore what it means to leverage talent – this domain of talent management involves career pathing, succession planning, mentoring etc. which allows your organization to maximize its collective talent
  6. Identify how all of the collective domains of talent management drives talent retention – which not only saves money but headaches as well identify various tools that are readily accessible to support the analysis and practice of all talent management domains

Best Practices in Firm Management: People, Processes, Clients and Finance (PST, FMA)

Jun 10, 2019 8:00am ‐ Jun 10, 2019 11:00am

Identification: ENG19101

Join us for this deep dive pre-conference session into the three pillars of Firm Management; People, Processes, and Clients. This session will include presentations from firm practice management leaders as well as round table discussions with your peers. Bring your firm’s challenges and opportunities to share with the group.

PEOPLE: Ann White will discuss current trends in recruitment, retention and training of staff as our profession faces increasing people challenges. Ann will lay out the business case reiterating the need to foster a strong culture and for creating a dynamic learning environment that leads to increased client satisfaction and firm profitability! You won’t want to miss the best practice exchange and lessons learned.

PROCESSES: Roman Kepczyk will discuss the latest trends in tax, assurance and administrative production optimization within today’s Digital CPA firm along with the corresponding IT applications and hardware recommendations. Roman will back these recommendations with the findings from the 2019 CPAFMA Digitally Driven Firm Benchmark Survey highlighting the technologies and tends being utilized in medium and larger CPA firms as well as possible disrupters.

CLIENTS: Bill Pirolli will discuss all aspects of client engagement, including the selection process, evolution of the client service model, creating industry and service verticals, handilng billing and collections, and knowing when it is time to let clients go.

Learning objectives:

  1. Learn best practices in Firm Management
  2. Discover how you can create a future ready profitable firm