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Saturday

There are a multitude of personal financial planning business models you can implement. The one you choose is what works best for you, your practice and your clients. A panel of successful practitioners in the most common business models in the CPA profession will share how they built their practice to provide the highest value for clients while also running a successful business. This session will cover the following topics:

  • Getting started with learning more about you (polling questions)
  • The PFP opportunity
  • Introduction of the panelists
  • The benefits, challenges, and best practices of the various business models — helping you identify the best structure for your practice and clients
  • The economics behind getting this service off the ground and what to expect in terms of revenue along the way
  • How they charge for these services and compensate partners and staff
  • How they converted tax clients into PFP clients
  • The psychological side of providing these services
  • How and why they chose their investment business model and how they successfully implemented their strategy
  • How to seamlessly integrate the CPA and RIA sides of the business
  • How they manage resource needs, including staffing and outside experts
  • Options for gaining help from 3rd parties (RIA firms, and other advisors) to assist in your efforts
  • Increasing the value of your practice by adding financial planning - succession plan/future sale/buyer’s view
  • Growing your business through marketing
  • Holding effective virtual client meetings
  • Reflection time for participants



Objectives:
  • Identify the benefits, challenges, and best practices of the various business models.
  • Recognize the benefits of adding PFP services to your practice and how you can do this.
  • Choose which business models and ways of doing business resonate most for you.
Saturday

Continuation of session one... 

There are a multitude of personal financial planning business models you can implement. The one you choose is what works best for you, your practice and your clients. A panel of successful practitioners in the most common business models in the CPA profession will share how they built their practice to provide the highest value for clients while also running a successful business. This session will cover the following topics:

  • Getting started with learning more about you (polling questions)
  • The PFP opportunity
  • Introduction of the panelists
  • The benefits, challenges, and best practices of the various business models — helping you identify the best structure for your practice and clients
  • The economics behind getting this service off the ground and what to expect in terms of revenue along the way
  • How they charge for these services and compensate partners and staff
  • How they converted tax clients into PFP clients
  • The psychological side of providing these services
  • How and why they chose their investment business model and how they successfully implemented their strategy
  • How to seamlessly integrate the CPA and RIA sides of the business
  • How they manage resource needs, including staffing and outside experts
  • Options for gaining help from 3rd parties (RIA firms, and other advisors) to assist in your efforts
  • Increasing the value of your practice by adding financial planning - succession plan/future sale/buyer’s view
  • Growing your business through marketing
  • Holding effective virtual client meetings
  • Reflection time for participants


Objectives:
  • Identify the benefits, challenges, and best practices of the various business models.
  • Recognize the benefits of adding PFP services to your practice and how you can do this.
  • Choose which business models and ways of doing business resonate most for you.
Saturday
07:10pm - 09:15pm EDT - June 3, 2023 | Room: Joshua 1/2
Ellen M Bruno, CPA, CGMA, PFS, ​Speaker - Virtual
Tags: PFP BUILDPFP
Total Minutes: 125

  • Determine whether you have or will cross the line when providing investment advice, so you know when or if to register as an investment adviser
  • Investment advisory business model options and pros and cons of each
  • Registration process
  • Regulatory oversight
  • Compliance programs
  • Determine whether you will cover your compliance needs or outsource
    • Hot topics (social media rules, custody, etc.)
    • Protecting your practice with insurance
    • Hear how panelists chose their model
    • Q&A
    • Reflection time for participants



Objectives:
  • Determine when you cross the line and are providing investment advice.
  • Recall the pros and cons of the various investment advisory business models.
  • Distinguish how other CPAs have chosen their investment advisory path.
  • Recognize whether you want to provide investment advice and how you want to proceed.
Sunday

  • Review engagement activities as defined by the Statement on Standards in Personal Financial Planning Services, No. 1
  • Discuss methods to identify your ideal client and secure the PFP engagement
  • Determine how to price the PFP engagement
  • Walk through how to structure typical client meetings included in the PFP engagement:
    • Initial complementary consultation and data gathering
    • Creation of Statement(s) of Financial Position and Cash Flow
    • Estate planning
    • Risk management planning
    • Investment planning
    • Retirement/Financial independence planning
    • Planning for ancillary services like education and elder planning
  • Reflection time for participants



Objectives:
  • Determine how to structure a PFP engagement in alignment with the AICPA PFP standards.
  • Identify how to structure the typical client meetings from estate planning to retirement planning and more.
  • Recognize methods to secure and price a PFP engagement.
  • Determine how to identify your ideal client.
Sunday

  • Core technology offerings to consider (financial planning software, client relationship management software, document management software, etc.)
  • Major industry trends
  • Emerging technologies
  • Hear how panelists chose their technology stack
  • Q&A
  • Reflection time for participants



Objectives:
  • Recognize the technology landscape in personal financial planning services.
  • Determine the key software you need to provide these services.
  • Distinguish how other CPAs have chosen their technology stack.
  • Identify the software that resonates most for how you want to proceed.
Sunday

Group 1

Dirk Edwards, CPA/PFS, JD, Edwards Bradley PC, Lake Oswego, OR

  • Clients include entrepreneurs, executives, and high-net-worth individuals and their families; offers integrated personal financial planning and tax compliance services

Susan M. Tillery, CPA/PFS, President & CEO, Paraklete Financial Inc., Kennesaw, GA

  • Fee-for-service integrated financial planning without asset management or product sales who builds a team of advisers and offers a multi-family office approach

Brooke Salvini, CPA/PFS, Principal, Salvini Financial Planning, San Luis, Obispo, CA

  • Registered investment adviser firm that offers fee-only, hourly and retainer, objective advice with a focus on estate, retirement, tax, investment, and risk management planning

Group 2

Scott Sprinkle, CPA/PFS, CGMA, CFP, Sprinkle Financial Consultants LLC, Littleton, CO

  • Family office/high-net-worth client model providing tax, financial planning and investment advisory services with fee-only compensation

David Stolz, CPA/PFS, CFP, Stolz and Associates P.S., Tacoma, WA

  • Registered investment adviser firm that offers fee-only, hourly and retainer financial planning and asset management with a focus on high-net-worth couples and divorcees

Group 3

Jean-Luc Bourdon, CPA/PFS, Principal, Lucent Wealth Planning LLC, Santa Barbara, CA

  • Fee-only independent firm affiliated with a Turnkey Asset Management Provider (TAMP) offering financial planning and investment management services

Theodore Sarenski, CPA/PFS, CFP, AEP, President/CEO, Wealth Manager, SageView Advisory Group, LLC, Syracuse, NY

  • Experience selling a business and providing PFP services in multiple firms with a fee-only focus on investment management and financial planning
  • Mark Astrinos, CPA/PFS, CFP®, RLP®
    • Experience buying a business; provides personal CFO services that include life planning, financial planning, and investment planning for a fixed fee

Objectives:
  • Identify the benefits and challenges of the business models that resonate most for you.
  • Determine what you need to know to take your next steps.
Sunday

You will learn how panelists communicate with clients, structure their meetings, and deliver & present planning ideas to clients in the areas of retirement, estate/charitable, investment, risk management/insurance planning.

Objectives:
  • Recognize how other CPAs present and deliver financial planning recommendations to clients.
  • Determine methods for communicating effectively with your clients.
Sunday

This final session will give you a chance to create your game plan forward, get your questions answered, and gain practical advice from the panel, including:

  • Bring everything you have learned together with the “Building Your Tax and Financial Planning Business Checklist”
  • Panelists share what their best piece of advice would be if they were starting again now
  • Hear about resources to support you going forward
  • Create “Your Vision & Quarterly Rocks” document to capture your plan forward
  • Share your plans and top takeaways with each other
  • Q&A
  • Wrap up the workshop



Objectives:
  • Determine your vision for your financial planning practice.
  • Identify your next steps forward.
12:30pm - 01:45pm EDT - June 5, 2023

Monday
12:30pm - 01:45pm EDT - June 5, 2023 | Room: Starvine 3/4/5
Ranieka Weston, PCC, SHRM-SCP
Tags: PFP NAA EST TAX FIN EDG DEI FMA PRAC TCH DCPA
Total Minutes: 75
Being an active inclusive leader is not always easy, but it is an important trait of leaders. We will explore the topic of leading with inclusivity and provide practical tips and steps that can be incorporated into your leadership style immediately. You will go on a journey that will deepen your knowledge on the topic and learn how embracing inclusivity can increase connection and employee engagement in the workplace.

Objectives:
  • Recognize the traits of inclusive leaders.
  • Interpret the difference between mentorship/sponsorship and how it is incorporated into inclusive leadership.
  • Identify how you can connect your values to inclusive leadership.
  • Discover what gets in the way of being an inclusive leader.
  • Discover your WHY and formulate a commitment to practice active inclusivity.
Monday
In early 2023, markets remain focused on the macro environment, finding comfort in lower inflation but concerned about increased recession risks from tighter monetary and fiscal policy. The Fed has mostly maintained its hawkish messaging, but appears set to pause rate hikes in the first half of the year. For investors, it is also important to look beyond the cycle, as this year’s global reset in valuations presents a much broader menu of investment opportunities than existed a year ago. Using slides from the Guide to the Markets, Dr. David Kelly will shine some light on these issues and their investment implications.

Objectives:
  • Be able to communicate current economic and market trends using Guide to the Market slides.
  • Be able to identify potential opportunities and risks with the domestic and global markets. Session will provide attendees with relevant facts that will assist them with their investment and asset allocation decisions.
  • Have gained an increased knowledge on global markets and the outlook for stock and bond market performance.
02:15pm - 03:05pm EDT - June 5, 2023

Monday
02:15pm - 03:05pm EDT - June 5, 2023 | Room: Oravado 3
Meghaan Lurtz, PhD
Tags: PFP CGMA CFP
Total Minutes: 50
Financial professionals (CFPs, PFPs, CPAs and others) run into behavioral finance issues - biases and heuristics based on human cognitive ability, all the time. These behavioral finance issues can make work with clients difficult, and frustrating for both parties. In this presentation we will discuss five common behavioral finance issues and talk about what to do about them. It can be helpful for financial professionals to be able to recognize these issues in clients, it is even more helpful to understand how to work through them.

Objectives:
  • Define behavioral finance among other similar terms like behavioral economics or financial psychology.
  • Identify the unique purpose and understanding that behavioral finance brings in work with clients.
  • Review and define common behavioral finance issues that financial professionals face.
  • Identify how to respond to common behavioral finance issues financial professionals and clients face.
  • Highlight research on behavioral finance and glean information from research and apply it to practice.
Monday
02:15pm - 03:05pm EDT - June 5, 2023 | Room: Orovada 6/7/8
Michael E. Goodman, CPA, PFS, CFP, Moderator; Mark F. Astrinos, CPA, PFS, CFP, RLP, Panelist; Catherine Williams, Panelist
Tags: PFP CGMA
Total Minutes: 50

Efficiently managing an independent wealth management firm involves focusing on key areas to ensure smooth operations, client satisfaction, and growth. In this presentation, we'll discuss essential strategies, including:

* ORGANIZATIONAL SYSTEMS: Implement effective client management and documentation processes.

* TECHNOLOGY INTEGRATION: Utilize CRM software, financial planning tools, and automation.

* CLIENT ONBOARDING AND RETENTION: Create a comprehensive onboarding process and prioritize relationship building.

* STAFF TRAINING AND DEVELOPMENT: Foster a culture of collaboration, growth, and continuous improvement.

* COMPLIANCE AND RISK MANAGEMENT: Stay up-to-date with regulatory requirements and best practices.

* BUSINESS DEVELOPMENT AND MARKETING: Develop a robust marketing plan, leveraging online and offline channels.

* TIME MANAGEMENT AND WORK-LIFE BALANCE: Establish efficient practices, delegate tasks, and prioritize self-care.

Join us as we explore actionable insights to optimize your wealth management practice.

Objectives:
  • Participants will learn to identify and implement efficient organizational systems and technology solutions, streamlining daily operations and enhancing overall productivity within their wealth management practice.
  • Attendees will gain insights into effective client onboarding and retention strategies, as well as techniques for staff training and development, fostering strong relationships and a collaborative work environment.
  • Participants will understand the importance of compliance, risk management, business development, and marketing in maintaining a successful practice, while also learning how to balance time management and work-life equilibrium for sustained performance and growth.
Monday
02:15pm - 03:05pm EDT - June 5, 2023 | Room: Primrose 4/5/6
Theodore J Sarenski, CPA/PFS, CFP, AEP, CGMA, Moderator; Oscar Vives, CPA/PFS, CFP®, Panelist; David Stolz, CPA/PFS, CFP, CDFA, Panelist
Tags: PFP CFP Interactive
Total Minutes: 50

The decisions that clients make in the five years before and after retirement can make a difference in their retirement success. It's also the time the clients are most likely to be willing to listen to advice and to make the necessary adjustments to their retirement plan that are needed to retire well.

Objectives:
  • Learn about the typical conversations with clients in the five years prior to retirement
  • Learn how to monitor and adjust a clients plan as they begin retirement
Monday
02:15pm - 03:05pm EDT - June 5, 2023 | Room: Oravado 4/5
Michael Finke, PhD, CFP
Tags: PFP CFP
Total Minutes: 50
Social Security provides a unique form of inflation-adjusted income that protects against purchasing power and longevity risk. A retiree can buy more Social Security income by choosing to delay claiming until age 70. This requires spending down financial assets to bridge the delay period. This presentation discusses the value of delayed claiming by introducing the rules used to estimate lifetime income increases, evaluating bridging strategies, and comparing delayed claiming to the cost of private annuities. Some retirees will benefit more than others, and advisors should recognize when it is optimal to delay claiming and the unequal impact claiming at different ages has on retirement wealth.

Objectives:
  • Understand how insurers price annuities to estimate the value of delayed Social Security claiming
  • Compare common deferred and immediate annuity pricing to the increased income from delayed Social Security
  • Evaluate tax efficient strategies for building a spending bridge to delay claiming after retirement