Advanced Personal Financial Planning Conference

Transcription

1 Advanced Personal Financial Planning Conference January 10-12, 2011 Bellagio Las Vegas, NV Notable Speakers Dr. David Kelly Chief Market Strategist JP Morgan Funds on the State of the Economy Pre-Conference Value-Added Workshops and Special Events! Including the first Lifetime Achievement Award to Stanley H. Breitbard Sunday, January 9 th Early Bird Registration Save $ 75 by 12/9/10 Join us this year as we kick-off a special year-long celebration of the 25th Anniversary of the PFP Division. Joe Navarro Former FBI Agent on The Art of Nonverbal Communications Meir Statman Professor of Finance University of Santa Clara on Investor Psychology This conference delivers 23 CPE of the highest level of advanced comprehensive training related to all areas of financial planning and unmatched networking opportunities with peers! Hotel cut off date: 12/8/2010 NEW lower room rates available! Mark Tibergien Chief Executive Officer Pershing Advisor Solutions on the State of the Industry Tax Section, PFP Section Members, PFS Credential Holders Save an additional $100 Learn more or register cpa2biz.com/pfp Learn more or to register cpa2biz.com/pfp

2 Increase your value as a trusted advisor with advanced techniques and ideas to hone critical financial planning strategies that benefit your clients. Keeping a client s financial planning objectives and investment strategies on track is no easy task given today s challenging circumstances. As a valued trusted advisor, you understand that reducing client anxiety, balancing risk and opportunity, and assessing how best to service clients in this new economic environment is an enormous responsibility. The AICPA Advanced Personal Financial Planning Conference provides a holistic approach to every-life-stage financial planning to help you successfully adapt and manage these challenges, regardless of market volatility. A robust agenda tackles the latest in estate planning and legislation, financial and healthcare reform, investment and retirement planning, and much more! Timely Topics. Expert Speakers. Three intensive days of in-depth learning across four key tracks: Investment Management, Wealth Management, Practice Management and Retirement/ Elder Planning. Key topics in each area will help you better understand and manage the complexities of today s financial planning environment. Conference favorites, including David Kelly, Bob Keebler, Mark Tibergien, Michael Kitces, Theodore Sarenski and Jim Shambo, are back by popular demand. A broad range of hot button issues will be covered, including Professor William Byrnes update on financial reform, and Lawrence Frolik s insight on elder care issues. Hot Topics Elder Law After Healthcare Reform Regulatory Update on Financial Reform Risk Management/Fiduciary Control Roth Update: Recharacterizations & Reconversions Modern Portfolio Theory Strategies for Optimizing Your Clients Social Security Issues and Other Benefits Best Planning Ideas Panel Who Should Attend CPAs and other financial professionals who provide investment, estate, retirement, insurance, tax planning and financial planning services or who wish to add this service to their practice; as well as PFS, CFP, CFA and CIMA designees who require continuing professional education credits in their areas of specialization. Exceptional Networking Enjoy unsurpassed networking and camaraderie every day at breakfasts, lunches, session breaks and three exceptional receptions. You can connect with industry experts and high level financial professionals; meet up with old colleagues and friends; immerse yourself in new and exciting ideas. The complimentary Town Hall roundtables discuss current issues and give you yet another opportunity to exchange ideas with participants. AICPA Alliances AICPA is proud to continue its alliances with the Investment Management Consultants Association, co-sponsor of the Investment Management track, and the CFA Institute. 2 Register by 12/9/10 SAVE $75!

3 The 2011 AICPA Advanced Personal Financial Planning Conference kicks off a year-long celebration of the 25th anniversary of the PFP Division. Special activities onsite at the conference include: SUNDAY January 9th Implementing PFP Services in Your Firm: Developing Step-by-Step Plans for Success (all day workshop - special $300 discount available for PFP Section Members and PFS Credential Holders). See session 101, page 4 for more details. New! Emerging Leaders Workshop by invitation only (for CPAs with less than 15 years experience with an interest in PFP specialization). If you re a Partner identify Emerging Leaders in your firm who could sharpen their skills and knowledge by attending Sunday afternoon s Emerging Leaders workshop: and the main conference. Your firm can take advantage of a discounted rate to minimize costs while maximizing learning. If you re an Emerging CPA it s a great opportunity to get the most current information and start to build a professional network. Visit to download a Justification Toolkit, to help bolster your arguments to senior staff on the benefits of attending the conference. To request an invitation please conferenceinfo@aicpa.org See session 103, page 5 for more details. Consider additional value-added on Sunday afternoon! Making the Media Your Financial Planning Partner (session 102); Sophisticated Financial Engineering Ideas: Roth Conversions and Other IRA Strategies (session 104); and CFAI-Sponsored Workshop: What Every Wealth Manager Needs to Know When Evaluating Manager Performance (session 105), see pages 4-6 for more details. AICPA Town Hall Roundtable. Welcome Reception and Hospitality Suite honoring Stanley H. Breitbard, the first chairman of the PFP Section and first-ever recipient of the Lifetime Achievement Award for Personal Financial Planning. MONDAY January 10th Presentation of the Lifetime Achievement Award to Stanley H. Breitbard Networking Reception TUESDAY January 11th Current Issues in PFP and AICPA PFP Division Resources That Can Help Professional Issues Update and AICPA PFP Distinguished Service Award PFP Division 25th Anniversary Celebration JOIN THE NETWORK... Social media networks (Facebook, LinkedIn, Twitter and more) provide an important connection in your organizations, as well as in your personal and professional life. Grow your social networking experience before, during and after the conference by joining the Advanced Personal Financial Planning Conference community at: go to: go to: follow us at: use #AICPAPFPconf It is your opportunity to be a part of a ever-growing community of CPA financial planers using social media. You can make significant new business contacts with leading experts and peers. It is also a chance to exchange ideas and share success stories. Join today! New for 2011! AICPA debuts exciting and innovative networking technology by Mingle360. Each registered participant will receive a complimentary MingleStick allowing you to exchange information with a simple click of a button. Mingle360 is a safe and easy way to make new professional connections. Mingle360 allows photos, web links, documents and corporate information to be shared, and it integrates seamlessly with the most popular social networking sites including LinkedIn and Facebook. Learn more or to register cpa2biz.com/pfp

4 Conference Agenda Pre-Conference Sunday, January 9 / Value-Added Workshops & Roundtables 8:00 am - 6:00 pm Registration & Message Center Open 9:00 am - 4:30 pm All Day Workshop (additional fee box lunch is included) EXCLUSIVE savings for PFP members save $300 on this session Moderator Lyle Benson Panelists Jerry Love Ted Sarenski Scott Sprinkle Susan Tillery Jimmy Williams 101 Implementing PFP Services in Your Firm: Developing Step-by-Step Plans for Success AP, BMO Whether you are considering adding, expanding or formalizing personal financial planning services within your firm, or you are already established and want to hear how some of the most successful CPAs are doing it, this all-day intensive workshop will give you the step-by-step guidance and resources you need to be most successful in this niche. 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. This workshop will bring together a panel of successful CPAs in the most common business models to share the nuts and bolts of how they have built their practice to provide the highest value for their clients while also running a successful business. (9:00 am - 12:30 pm) The morning session will focus on formalizing PFP in your practice, including: Type and scope of PFP services An in-depth look at various successful business models Identifying your market Working with other advisors Managing your practice including, staffing, fee structure and client documentation and communication Roundtable break-out by business model (1:30 pm - 4:30 pm) The afternoon session will focus on implementing PFP in your practice, including: Effective use of a wide variety of tools and resources to improve your practice Professional liability, risk management and professional standards considerations Regulatory and compliance issues (including fiduciary) you should consider for each model Marketing your practice including development of a marketing plan, building referral sources and other successful strategies, including use of local and national media to reach your target audience Experts in the areas of technology (Joel Bruckenstein) and compliance (Ellen Bruno) will join the afternoon session to complement the panel discussion. Resources will be provided, including handouts that cover the nuts and bolts of all of the panelists business models as well as helpful practice guides. Lyle Benson, CPA/PFS, runs his practice as a multi-family office, offering traditional tax services as well as a full scope of financial planning. He oversees clients investment portfolios and his compensation model is retainer/hourly fee. Jerry Love, CPA/PFS, has been providing financial planning to his tax clients for decades. He is in process of formalizing these services within his firm via hourly and retainer fees. Ted Sarenski, CPA/PFS, has gotten a taste for providing PFP services in a larger CPA firm and on his own. He provides financial planning services and manages assets. His compensation model is a mix of hourly, retainer and assets under management fees. Scott Sprinkle, CPA/PFS, runs a traditional CPA practice alongside a registered investment adviser entity. He offers a full scope of tax and PFP services, and charges a mix of hourly, retainer and assets under management fees. Susan Tillery, CPA/PFS, leads a comprehensive financial planning practice. She has assets under advisement and her compensation model is retainer/ hourly fee. A key component of Susan s practice is coordinating all of the client s advisors. Jimmy Williams, CPA/PFS, runs a traditional CPA firm with a full scope of tax and PFP services. Based on client circumstances, he charges a mix of hourly, retainer, assets under management fees and commissions. 4 Register by 12/9/10 SAVE $75!

5 FIELDS OF STUDY AP-Administrative Practice BMO-Business Management & Organization C-Communications CS-Computer Science MKT-Marketing SKA-Specialized Knowledge & Application T-Tax TRACKS IM-Investment Management PM-Practice Management WM-Wealth Management RE-Retirement/Elder Planning/Other 12:30 pm - 4:30 pm Half Day Workshops (additional fee, unless otherwise noted) 102 Making the Media Your Financial Planning Partner C AICPA Media Relations Team, AICPA, New York, NY Workshop This four-hour session focuses on basic skills to help develop ease in public speaking, and dealing with reporters and the media. Specific areas of interest include: understanding your audience and reporters crafting the message you want to convey and what to expect in different situations. The media relations training will help you understand how reporters work, recognize the benefits of establishing working relationships with the press, develop effective story angles and sell them to reporters, and respond to reporters questions to your advantage. This session can either introduce you to the world of presentations and the media, or refresh your existing skills and help you incorporate effective ways of refining your connections with people with whom you speak. Limited to the first 20 PFS Credential Holders who register for the conference and send an indicating interest in this session to financialplanning@aicpa.org 103 Emerging Leaders Workshop SKA (invite only) Please note that John G. Corn, CPA/PFS, Investment Advisor, Buckingham Asset Management, session 103 is by invite only. St. Louis, MO See website for more Glenn Freed, CPA/PFS, Austin, TX information to be Nikki E. Michelini, CPA, Principal, Director, Wealth Management, Aspirant, considered for this Los Angeles, CA session send an Michael Montag, CPA/PFS, CFP, Wealth Management, RSM McGladrey, Inc., to: conferenceinfo@ Dubuque, IA aicpa.org. Christopher Pagano, CPA, Financial Advisor, Seiler & Associates, Pasadena, CA REGISTRATION IS Michael Tate, CPA/PFS, President, TPBS Capital Management, Sacramento, CA LIMITED please A group of emerging leaders will conduct a workshop on a series of topics register early. important to an early-career financial planning professional. A portion of the workshop content will be driven by your participation in a pre-workshop survey of the attendees. The topics will include: The best practices for a young professional to build a business network How to plant the seeds for future business relationships Communication strategies for dealing with Matures (>62), Baby Boomers, Gen X, Millennials How to develop the necessary management skills for emerging professionals 104 Sophisticated Financial Engineering Ideas: Roth Conversions and Other IRA Strategies T Robert S. Keebler, CPA, MST, AEP, Partner, Keebler & Associates, LLP, Green Bay, WI Barry C. Picker, CPA/PFS, CFP, Picker, Weinberg & Auerbach CPAs, Brooklyn, NY Retirement distribution planning is often understood from an investment perspective. However, many do not fully understand the complex tax rules associated with this kind of planning. In this workshop, we will discuss the critical tax aspects of retirement distribution planning and ways to avoid some of the most common mistakes. We will focus on how sophisticated advisors can use this high level knowledge to become their clients most valued advisor. highlights include: Applying for IRS relief Using life insurance to protect large IRAs Grasping the foundational tax concepts of retirement distribution planning Understanding the final minimum distribution regulations Designating beneficiaries under the final minimum distribution regulations Naming a trust as a qualified designated beneficiary Using spousal rollovers and qualified disclaimers to maximize distribution stretch-out Cashing out non-qualified designated beneficiaries during the shake-out period Understanding the key exceptions to the 10% additional tax on pre-59 1 /2 distributions Working with employer securities within a qualified retirement plan Learn more or to register cpa2biz.com/pfp

6 Conference Agenda 12:30 pm - 4:30 pm 105 CFAI-Sponsored Workshop: What Every Wealth Manager Needs to Know When Evaluating Manager Performance SKA Stephen M. Horan, Ph.D., CFA, Head, Professional Education Content Workshop and Private Wealth, CFA Institute, Charlottesville, VA (continued) Todd Jankowski, CFA, Head, CIPM Program, CFA Institute, Charlottesville, VA Kenneth Robinson, CFA, CIPM, CPA/PFS, Director, Investment Performance Standards, CFA Institute, Charlottesville, VA Learn what every wealth manager needs to know to effectively compare performance between separate account managers, mutual funds and ETFs. Learn why leveraged ETFs must underperform their benchmarks and other performance measurement issues of ETFs. Understand what the new 2010 Global Investment Performance Standards are about and why it is important for the cutting-edge wealth manager to understand them. This workshop will clarify the salient issues associated with performance measurement and evaluation. Know exactly what questions to ask when interviewing managers for a client s portfolio. Delve into details such as the differences between time weighted return and dollar weighted return calculation methodologies, the impact of cash flows on performance, various measures of performance, and the appropriate settings for each. We will review and discuss the important characteristics of proper performance benchmarks, performance attribution, and portfolio characteristics analysis. We will dig into the challenges and issues inherent in using after-tax performance numbers and explore the various approaches to address these issues. Attendees are encouraged to bring their questions and to be active participants in this workshop. 4:45 pm - 6:00 pm 106 AICPA Town Hall Meeting: Current Ideas Exchange (complimentary) SKA Clark M. Blackman II, CPA/PFS, Alpha Wealth Strategies, LLC, Kingwood, TX Lisa Featherngill, CPA/PFS, Wells Fargo Family Wealth, Winston-Salem, NC The always popular roundtable format is back bringing attendees together to discuss current events, issues and developments in financial planning. Attend this session for a unique opportunity to network and exchange ideas with your peers, members of the committees that run financial planning at the AICPA, as well as staff. The open forum lets attendees share feedback with the AICPA, and have a voice in future benefits and initiatives. 6:00 pm - 6:45 pm Stanley H. Breitbard Recognition (complimentary) Stanley H. Breitbard was a practicing CPA for over 40 years with Price Waterhouse, primarily as a tax partner. For 12 years until his retirement in 1995, he was the National Director of the firm s personal financial planning department. During his professional career, Stanley was the co-author of the Price Waterhouse Personal Financial Advisor. He was the first Chairman of the AICPA s Personal Financial Planning Division and was named one of the top 60 financial planners by Worth magazine. Since retiring from Price Waterhouse, Stanley has been teaching and volunteering in financial education. 6:45 pm - 7:45 pm Welcome Reception Honoring Stanley H. Breitbard and PFP Division Members Sponsored by: AICPA PFP Division, CalCPA and PwC New and returning attendees, please come by to join your peers, speakers and members of the key AICPA PFP committees to say hello and celebrate the beginning of the conference and to kick-off the 25th anniversary of the PFP Division. Take this opportunity to share your memories of Stanley Breitbard and his role in the formation of the AICPA PFP Division, his impact on the California CPA Financial Planning Initiatives, and his leadership role at Price Waterhouse. 8:00 pm - 10:30 pm Hospitality Suite A chance to extend your networking with old friends and new acquaintances in a casual setting. The flexibility and the variety of high quality educational sessions. Brian L. Elsasser, Ronald P. Dreese & Assoc., Lewisburg, PA 6 Register by 12/9/10 SAVE $75!

7 Main Conference Monday, January 10 / Day ONE 7:00 am - 5:25 pm Registration & Message Center Open 7:00 am - 8:00 am Continental Breakfast in Exhibit Hall 8:00 am - 8:30 am Conference Welcome & Introduction and Presentation of Lifetime Achievement Award to Stanley Breitbard Michael Goodman, Conference Chair 8:30 am - 10:00 am Keynote 1 Investor Psychology: Lessons from Behavioral Finance SKA Meir Statman, Professor of Finance, Santa Clara University, Santa Clara, CA and Visiting Professor, Tilburg University, Tilburg, Netherlands Meir Statman, is the Glenn Klimek Professor of Finance at the Leavey School of Business, at Santa Clara University. His research focuses on behavioral finance. He attempts to understand how investors and managers make financial decisions and how these decisions are reflected in financial markets. The questions he addresses include: What are the cognitive errors and emotions that influence investors? What are investor aspirations? How can financial advisors and plan sponsors help investors? What is the nature of risk and regret? How successful are socially responsible investors? Meir s research has been published in the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, the Journal of Financial and Quantitative Analysis, the Financial Analysts Journal, the Journal of Portfolio Management, and many other journals. The research has been supported by the National Science Foundation, the Research Foundation of the CFA Institute, and the Investment Management Consultants Association (IMCA). Scientists don t rely on their ears to distinguish information from noise, they use scientific instruments. But when it comes to investments, the same scientists and most other investors act as if their ears and eyes are infallible. One look at a graph convinces them that the trend is up. One sound from the Fed convinces them that the trend is down. Meir Statman will discuss the cognitive errors and emotions that afflict investors and the instruments that financial advisors can use to guide investors toward wealth and well-being. 10:00 am -10:30 am Networking Break in the Exhibit Hall 10:30 am - 12:00 pm General 2 Estate Planning T Robert S. Keebler, CPA, MST, AEP, Partner, Keebler & Associates, LLP, Green Bay, WI Robert S. Keebler, CPA, MST, AEP (Distinguished) is a partner with Keebler & Associates, LLP. He is a 2007 recipient of the prestigious Distinguished Estate Planners award from the National Association of Estate Planner & Councils. From 2003 to 2006, Robert was named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. Robert frequently represents clients before the IRS National Office in the private letter ruling process and in estate, gift and income tax examinations and appeals, and he has received more than 150 favorable private letter rulings including several key rulings of first impression. He is the author of over 100 articles and columns, and is the editor, author or co-author of many books and treatises on wealth transfer and taxation. As the end of 2010 quickly approaches, it appears that the only certain thing about the federal estate tax is uncertainty. Nevertheless, there are specific actions that can be taken now to reduce the impact of a highly-likely estate tax in During this session, we will discuss the following topics: Everything you need to know about the state of the estate tax Basis issues Generation skipping taxation issues Planning going forward 12:00 pm - 1:00 pm Luncheon Learn more or to register cpa2biz.com/pfp

8 Conference Agenda 1:00 pm - 2:15 pm s (continued) im 3 Risk Management SKA Samuel K. Won, Founder & Managing Director, Global Risk Management Advisors, Inc., New York, NY At the core, most, if not all, of the spectacular financial failures that we have witnessed in history, including those in the last several years, were failures in risk management. In the new era, post the financial tsunamis of 2007/2008, what are the key risk management issues that need to be considered, and what are smart guys doing about risk management? In this session, the following topics will be covered: What are the key elements and considerations for an institutional-quality approach to risk management? What is risk-overlay and how can these techniques be utilized effectively for risk defeasance or risk enhancement? What are the smart investors and asset managers doing for risk management? What are they doing differently than before the financial crisis? WM 4 Tax Planning Update T Michael Kitces, MSFS, MTAX, CFP, Publisher of The Kitces Report, Kitces.com & Pinnacle Advisory Group, Columbia, MD With the lapse of the Economic Growth and Tax Relief Reconciliation Act of 2001 at the end of December 2010, and the possibility of significant Congressional action during a lame duck session after the November elections, numerous tax changes are underway for In addition, with the passage of new health care legislation in late March 2010, Congress has implemented a series of new Medicare taxes on both earned and unearned income, starting in In this session, we will explore the existing tax rules that will lapse at the end of 2010, the new tax rules that will be reinstated for 2011, and any Congressional action that may have occurred in the meantime. In addition, we will also explore some of the new technical rules that will apply to the coming new Medicare taxes in PM 5 Re-Energize and Renew Your Relationships with High-Impact Client Review Meetings SKA Edward Jacobson, Ph.D., MBA, President, Edward A. Jacobson Associates, Madison, WI The client review meeting presents a great opportunity to re-energize and deepen the relationship and confirm your status as the client s Trusted Advisor. This session presents a detailed, step-by-step framework for conducting High-Impact Client Review Meetings. Four phases (Kickoff, Quantitative, Qualitative and Wrap-Up) are presented, each with its unique purposes, steps, and tools. attendees will be shown how to apply this roadmap in their very next client review meeting. The centerpiece is the Life Abundance Portfolio, which measures the individual s level of abundance in seven key life areas. Clients complete the Portfolio in each review meeting, thus permitting period-by-period comparisons as well as discussion of changes in specific scores. attendees complete their own Portfolio, engage in conversations about their highest scores (i.e., their areas of greatest life abundance), and learn how to productively and comfortably discuss the client s Portfolio profile. Client review meetings are the gateway to enduring client relationships. By attending this powerful, practical session, you will learn how to maximize the positive impact of these meetings. Bellagio A prestigious AAA Five-Diamond hotel, the Bellagio provides a serene retreat in the center of exciting Las Vegas. With award-winning restaurants, spa services, a shopping promenade, casino and world-class entertainment, this renowned hotel offers everything you could want after your business day to network with friends and colleagues. 8 Register by 12/9/10 SAVE $75!

9 1:00 pm - 2:15 pm 6 Women and Wealth SKA (continued) R/E Moderator: Mitchell Freedman, CPA/PFS, AIF, MFAC Financial Advisors, Inc. and Mitchell Freedman Accountancy Corporation, Westlake Village, CA Nadine Gordon Lee, CPA/PFS, CFP, MS, President, Prosper Advisors, Armonk, NY Martha Harris Myron, CPA/PFS, CFP, TEP, JP, Partner, Patterson Partners Ltd., Hamilton, Bermuda Affluent women and wealth whether the savvy leader of a global empire, the sheltered recipient of a family legacy, or the newly divorced, women are seeking professional advice often triggered by transition. This session is designed to help participants expand their advisory services to affluent women by focusing on issues, learning styles, and communication skills. In particular, the program will focus on: Understanding affluent women s needs and fears, and the broad range of services they seek Identifying the type of advisory relationship that will be most beneficial in attracting and servicing your client Adjusting the relationship and services through the cycle of a client s transition and beyond Ideas to help clients manage their affairs through age and health issues Hot spots: - She is the breadwinner - He is a spendthrift - She s afraid of him (her husband, her father, her boss, her child) 2:25 pm - 3:40 pm s im 7 The Evolution and Best Practices of ETF Due Diligence, Construction and RIA Usage SKA Brendan Ahern, CIMA, ishares BlackRock, New York, NY The ETF landscape has evolved dramatically from stocks and bonds to increasingly complex asset classes and structures. Advisors need to be aware of how ETFs get their exposures and consequences. This session will: Outline how private banks and institutional investors employ due diligence on ETFs Explore how ETF construction has changed dramatically In light of the lost decade for U.S. large cap equity investors, how we see advisors utilizing ETFs tactically WM 8 Income Tax Opportunities in Wealth Transfer Planning T Larry McKoy, CPA/PFS, Senior Tax Partner, Goodman & Company LLP, Glen Allen, VA Don t sit on the sideline while Congress procrastinates! Your clients have long-term income tax opportunities that should be part of your wealth transfer strategies. This session will deal with income tax planning related to estate asset transfers during lifetime and at death. It will focus on small to mid-size estates and practical planning strategies for multi-generational income tax savings. This session applies to clients even if they do not expect to owe estate tax! PM 9 True Stories From CPAs Who Have Grown Their PFP Practice Through Marketing MKT Randy Thurman, CPA/PFS, CFP, Retirement Investment Advisors, Inc., Oklahoma City, OK Jimmy Williams, CPA/PFS, MTAX, CEO/President, Compass Capital Management, LLC, McAlester, OK This session will provide informative, practical methods to immediately utilize in growing your PFP practice. The presenters, with a combined experience of 40 years in financial planning, provides examples and strategies to take your practice to the next level. This session will empower your marketing program by: Teaching you to establish and monitor a marketing budget that works while you don t! Guiding you with specific steps to establish and maintain media relationships that effectively deliver your message to target prospects. Providing you step-by-step instruction in delivering technical articles in a consumer-ready format complete with titles that grab the public s attention! Learn more or to register cpa2biz.com/pfp

10 Conference Agenda 2:25 pm - 3:40 pm 10 Social Security: Strategies for Optimizing Your Clients (continued) R/E Benefits and Other Social Security Issues T Ted Sarenski, CPA/PFS, CFP, President/CEO, Blue Ocean Strategic Capital, LLC, Syracuse, NY Learn the best time to begin Social Security benefits to maximize the lifetime payments to a family. Learn the little known provisions of the Social Security system so you can guide your clients at all stages of their lives. History Rules to abide by and be aware of Suggestions and examples Get all of your questions answered interactively 3:40 pm - 4:10 pm Networking Break in Exhibit Hall 4:10 pm - 5:25 pm s im WM PM 11 Managing Fixed Income in a Rising Rate Environment SKA Mark McCray, Executive Vice President, PIMCO, Newport Beach, CA Kevin Winters, CFP, CIMA, Senior Vice President, PIMCO, Newport Beach, CA This session will review how various fixed income sectors react to a rising rate environment and how advisors should position portfolios in a rising rate market. It will also provide a historical reference point on how fixed income portfolios have responded to rising Treasury yields and the impact of government policies on fixed income investing. 12 Using Trusts for Asset Protection (Without Necessarily Using an Asset Protection Trust ) T Daniel Rubin, J.D., LL.M. (Taxation), Partner, Moses & Singer LLP, New York, NY Trusts serve a multitude of client purposes, including, not insignificantly, asset protection. The use of a self-settled spendthrift trust (commonly called an asset protection trust ) is certainly one way to garner asset protection benefits through the use of a trust; but it is by no means the only way, or even necessarily, the best way. This session will: Examine the utility of garden variety trusts as asset protection vehicles Consider the appropriate structuring of trusts to enhance their asset protection benefits Look into the use of domestic and/or foreign asset protection trusts where the client s goals cannot be met through more commonplace trust structures 13 Creating the Family s Crisis Management/Response Plan SKA Paul Viollis, Ph. D., Chief Executive Officer, Risk Control Strategies, Inc., New York, NY For many years now, the role of trusted advisor has been bestowed upon the professional responsible for protecting the financial legacy of the affluent client. As the CPA continues to navigate clients through the minefield of risk that affluent individuals/families face in today s world, this briefing is designed to provide the roadmap to do so effectively and efficiently. An overview of the subject areas for best practice procedures to be discussed is as follows: Validating the clients actual threat level Securing the home front from invasion/burglary Protecting cyber and voice communications from hacking/intrusion Shielding their children Providing safe and productive domestic/international travel Safeguarding the family office Implementing required personal security measures Integrity validation the real background investigation I enjoyed the conference for the opportunity to speak with my peers, the openness of the speakers, and the intellectual quality of the materials. Gina Chironis, Venn CPA Inc., Irvine, CA 10 Register by 12/9/10 SAVE $75!

11 4:10 pm - 5:25 pm 14 Elder Law After Healthcare Reform: Careful Planning for (continued) R/E Later Life Health Care Concerns Continues to Be Critical SKA Lawrence Frolik, Professor of Law, University of Pittsburgh School of Law, Pittsburgh, PA Elder law focuses on planning for later life financial and legal needs, including income and asset protection, paying for health care, locating and paying for long-term care, and planning for possible mental incapacity. The Patient Protection and Affordable Care Act of 2010 improved and reduced Medicare benefits, but did little to address the high cost of long-term care. Consequently, planners must continue to assist their clients to plan to: Protect their income and assets in case of mental incapacity Be sure that after retirement they have adequate supplemental health care insurance Create a plan for paying for the possibility of very costly long-term care 5:30 pm - 6:30 pm Networking Reception Don t miss a great opportunity to visit with colleagues, meet new peers and see the latest in products and services from our exhibitors. Main Conference Tuesday, January 11 / Day TWO 6:30 am - 5:15 pm Registration & Message Center Open 6:30 am - 8:00 am Continental Breakfast in Exhibit Hall 7:00 am - 7:50 am s im WM PM PM 15 Asset/Liability Management in a Private Client Environment SKA Stephen M. Horan, Ph. D., CFA, Head, Professional Education Content and Private Wealth, CFA Institute, Charlottesville, VA This session develops a comprehensive life balance sheet framework to construct customized portfolios that meet clients needs. It takes a comprehensive view of explicit and implied assets and liabilities, and translates them into a portfolio construction framework that builds customized portfolios to meet clients unique needs. Particular attention will be paid to the role an investor s funding status (i.e., assets in relation to investment goals) and human capital plays in managing assets in relation to liability. 16 Trusts with Family Business Interests: Administration and Fiduciary Responsibilities T Farhad Aghdami, Esq., Williams Mullen, Richmond, VA This session will focus on the issues encountered by a fiduciary in connection with the administration of a business interest in trust. It will also cover topics such as retention and diversification, accounting under the Principal and Income Act, S corporation qualification issues, Code 754 elections, marital deduction, and material participation issues. 17 Expand Your Financial Planning Practice Through Your Client s Tax Return T Lyle K. Benson Jr., CPA/PFS, CFP, L.K. Benson & Company, P.C., Baltimore, MD Glenn S. Freed, CPA/PFS, Austin, TX This session will cover: How to best use your tax preparation practice to develop personal financial planning ideas for your clients. What are the key issues to consider as you prepare, review, and discuss individual tax returns with your clients? Use a checklist developed by leading CPA financial planners to find planning opportunities in your tax practice. 18 Current Issues in PFP and AICPA PFP Division Resources That Can Help SKA Don t lose sleep over technical or practice issues you are having. Bring them to the AICPA s PFP Executive Committee and PFS Credential Committee for help in resolving. Top CPA financial planners from around the country will be available to help solve your most difficult issues with the objective of bringing home practical and useful advice. This session was created by the AICPA PFP Division to serve members and be a resource for you. Where relevant, we will share AICPA PFP section resources that can help increase the effectiveness of your practice. Learn more or to register cpa2biz.com/pfp

12 s Investment Management Wealth Management Practice Management Retirement/Elder Planning/Other Sunday, January 9 Pre-Conference value-added Workshops 9:00 am - 4:30 pm 12:30 pm - 4:30 pm 101 Implementing PFP Services in Your Firm: Developing Step-by-Step Plans for Success (additional fee) Select One 102 Making the Media Your Financial Planning Partner (limited to first 20 details p.3) 103 Emerging Leaders Workshop (invite only) 104 Sophisticated Financial Engineering Ideas: Roth Conversions and Other IRA Strategies (additional fee) 4:45 pm - 6:00 pm 106 AICPA Town Hall meeting: Current Ideas Exchange (complimentary) 6:00 pm - 6:45 pm Stanley H. Breitbard Recognition (complimentary) 6:45 pm - 7:45 pm Welcome Reception Honoring Stanley H. Breitbard AND PFP SECTION MEMBERS Sponsored by AICPA PFP Division, CalCPA and PWC 8:00 pm - 10:30 pm Hospitality Suite sponsored by AICPA PFP Division, CalCPA and PWC 105 CFAI-Sponsored Workshop: What Every Wealth Manager Needs to Know When Evaluating Manager Performance (additional fee) Monday, January 10 Main Conference Day one 8:00 am - 8:30 am 8:30 am - 10:00 am 10:30 am - 12:00 pm 12:00 pm - 1:00 pm 1:00 pm - 2:15 pm 2:25 pm - 3:40 pm 4:10 pm - 5:25 pm Welcome & Introductory remarks Michael Goodman, Conference Chair & PRESENTATION OF LIFETIME ACHIEVEMENT AWARD to STANLEY H. BREITBARD 1 Keynote presentation: Investor Psychology: Lessons from Behavioral Finance Meir Statman, Professor of finance, Santa Clara University 2 General : Estate Planning Robert S. Keebler, partner, Keebler & Associates, LLP Lunch 5:30 pm - 6:30 pm Networking Reception 3 Risk Management 4 Tax Planning Update 5 Re-Energize & Renew Your Relationships with High Impact Client Review Meetings 7 The Evolution and Best Practices of ETF Due Diligence, Construction and RIA Usage 11 Managing Fixed Income in a Rising Rate Environment 8 Income Tax Opportunities in Wealth Transfer Planning 12 Using Trusts for Asset Protection (Without Necessarily Using an Asset Protection Trust ) 9 True Stories from CPAs Who Have Grown Their PFP Practice Through Marketing 13 Creating the Family s Crisis Management/Response Plan 6 Women and Wealth 10 Social Security: Strategies for Optimizing Your Clients Benefits and Other Social Security Issues 14 Elder Law After Health Care Reform: Careful Planning for Later Life Health Care Concerns Continues to Be Critical Tuesday, January 11 Main Conference Day Two 7:00 am - 7:50 am Early Riser 8:10 am - 9:25 am 9:55 am - 11:10 am 11:20 am - 12:35 pm 12:35 pm - 1:30 pm 1:30 pm - 3:10 pm 3:40 pm - 4:55 pm 4:55 pm - 5:25 pm 5:30 pm - 8:00 pm Select One Select One 15 Asset/Liability Management in a Private Client Environment 20 Market Neutral and Beyond : The Ins and Outs of Alternative Mutual Funds 24 Revisiting Modern Portfolio Theory 28 A Cautious Approach to Global Investing 16 Trusts with Family Business Interests: Administration and Fiduciary Responsibilities 21 Roth Update Recharacterizations and Reconversions 25 Life Insurance Policy Management: How to Dispose of the Policy Before They Dispose of the Insured 29 Best Planning Ideas Panel 17 Expand Your Financial Planning Practice Through Your Client s Tax Return 19 Keynote Presentation: The Art of Nonverbal Communications in Business Joe Navarro, Former FBI Agent Lunch 22 Selling for the Non-Sales Professional 23 Not Too Rich, Not Too Poor The Conundrum: Advanced Case Study on the Financial Issues of Aging 26 Regulatory Update on Financial Reform 30 Cloud Computing and the PFP: The Next Technology Frontier 32 general session: State of the Industry/Mission Possible: The Link Between Operational Efficiency and Increased Profitability MARK Tibergien, Ceo, PERSHING ADVISOR SOLUTIONS 33 Professional Issues Update & AICPA PFP Division Distinguished Service Award PFP DIVISION 25TH ANNIVERSARY CELEBRATION (Open to PFP Section and PFS Credential Holders) 18 Current Issues in PFP and AICPA PFP Division Resources That Can Help 27 Fiduciary Ethos 31 Tax-Efficient Portfolio Optimization and Tax-Efficient Withdrawal Strategies wednesday, January 12 Main Conference Day Three 7:00 am - 7:50 am Early Riser 8:10 am - 9:25 am 9:35 am - 10:45 am 11:00 am - 12:15 pm 12:15 pm Select One 34 Real World Media Experiences 35 Boosting Your Profits with Tax-Efficient Portfolio Management! 38 Keynote Presentation: State of the Economy David Kelly, Chief Market Strategist, J.P. Morgan Funds Select One 39 Advanced Topics in Manager Due Diligence 43 Commodity Investment: Why and How Conference Adjourns 40 The Full Mont(e)y 41 Planning for Middle Income Clients 42 The Economics of Loyalty: Tactics to Engage Clients and Drive Growth 44 Risk Tolerance 36 Working with the Statement on Responsibilities (SORs) in PFP 45 Transforming Your Business with CRM 37 How Well Do You Know Your Clients: Compliance/AML Issues/Crossing Borders 46 Advanced Case Studies on the Financial Issues of Aging

13 Conference Agenda 8:00 am - 8:10 am Welcome Announcements & Introduction 8:10 am - 9:25 am Keynote 19 The Art of Nonverbal Communications in Business C Joe Navarro, M.A., JNForensics.com, Tampa, FL For 25 years, Joe Navarro worked as an FBI special agent in the area of counterintelligence and behavioral assessment. Since retiring in 2003, he has become one of the world s leading experts on nonverbal communication, and today travels internationally to share his unique knowledge of human behavior through business lectures and consulting with major corporations and financial institutions. For the past three years, he has also spoken at the Harvard Business School. Joe has appeared on major U.S. and International media outlets, including CNN and CNN International, Fox News, CBS, NBC, NPR Radio, The Times (UK), and The Guardian (UK) on topics as varied as interviewing, terrorism, and body language. Experts have described Joe as a world-class observer (Jack Canfield), and a master of reading nonverbals (David Givens, Ph.D.). His most recent publication, Louder than Words, written specifically for the business world and the basis of his presentations to corporations and the Harvard Business School, received high acclaim from The Wall Street Journal s FINS Digital Network as One of the six best business books to read for your career in Joe is also the author of the best-selling body language book, What Every BODY is Saying: An Ex-FBI Agent s Guide to Speed-Reading People which was published in In this session, which is based on his lectures at the Harvard Business School, Joe Navarro will provide crucial insights into how to master nonverbal intelligence in business to assess and influence others. Drawing on his decades of experience in behavioral sciences and 25 years in the FBI, Joe will take a fresh look at nonverbal intelligence as a tool for change, for better communication, for collaboration and for success. This presentation is practical, detailed, and full of valuable pointers on how to lead, how to communicate better, and how to ensure that you have the best interpersonal relations with your clients and patrons: material highly applicable to any business person, particularly sales people or for those conducting due diligence. 9:25 am - 9:55 am Networking Break in Exhibit Hall 9:55 pm - 11:10 am s im WM 20 Market Neutral and Beyond : The Ins and Outs of Alternative Mutual Funds SKA Tim Galbraith, Head of Alternative Investment Strategies, Morningstar Associates, Chicago, IL One of the fastest growing areas in financial products is the explosive growth of alternative mutual funds. These mutual funds embrace strategies that differ from the traditional buy-and- hold long-only. Many investors remain fearful of re-entering the market and are searching for differentiated products. Alternative mutuals funds offer market neutral, long-short and global opportunistic strategies that can complement core holdings. This session explores the types of alternative strategies offered in this emerging mutual fund category and highlights their unique advantages and drawbacks. 21 Roth Update Recharacterizations and Reconversions T Robert S. Keebler, CPA, MST, AEP, Partner, Keebler & Associates, LLP, Green Bay, WI Scott Sprinkle, CPA/PFS, CFP, Co-Founder and Managing Partner, Sprinkle & Associates LLC and Sprinkle Financial Consultants LLC, Littleton, CO After getting a good grasp of the Roth IRA fundamentals, the next step is to execute an effective Roth IRA conversion plan. During this session, we will discuss the following topics: 2010 two-year spread dilemma Recharacterizations general provisions and timeline Roth segregation conversion strategy Analyzing recharacterizations Tax-sensitive investment strategy Tax-sensitive withdrawal strategy 14 Register by 12/9/10 SAVE $75!

14 9:55 pm - 11:10 am 22 Selling for the Non-Sales Professional MKT (continued) PM Beverly Flaxington, Principal, The Collaborative, Medfield, MA CPAs who want to grow their practice must learn how to sell effectively, without being salesy. This session will teach effective sales from the perspective of the non-sales professional. We ll cover: What selling is and isn t How to sell without being pushy How to incorporate good sales techniques into the day-to-day activities How to develop a business building plan that works How to integrate sales and marketing tactics R/E 23 Not Too Rich, Not Too Poor The Conundrum: Advanced Case Studies on the Financial Issues of Aging SKA Michael Schulman, CPA/PFS, Schulman CPA, Central Valley, NY we have done little to help the average retiree make the difficult choices about how to make their savings last, says Chairman of the Special Committee on Aging, Herb Kohl. The affluent are able to weather the financial issues of aging while the poor can turn to government programs like Medicaid. How do the rest cope with aging? Do they purchase life insurance or long-term care insurance? As the economy drags along, how do they manage their retirement and other portfolios? In this session, we look at the financial issues of aging facing the middle market. Where do discretionary dollars go? Retirement savings? Long-term care insurance? Are my assets sufficient to provide lifetime income for me and my spouse/partner? In the post-madoff era, how can older adults be protected from con artists and swindlers? My parents need financial assistance how can I help them? The value of my house has plummeted and I was counting on its value to fund some retirement costs. What now? 11:20 am - 12:35 pm s im 24 Revisiting Modern Portfolio Theory SKA Michael Kitces, MSFS, MTAX, CFP, Publisher of The Kitces Report, Kitces.com & Pinnacle Advisory Group, Columbia, MD The investment markets of have been a somewhat humbling experience for many financial planners. Steeped in an investment education rooted firmly in Modern Portfolio Theory, we created investment recommendations and portfolios for clients that we believed to be efficient solutions, balancing the prospects of return with the dangers of risk in pursuit of growing assets and achieving client goals. The results in reality, though, did not transpire as anticipated. Losses were larger than most of us believed would likely happen in any bear market; diversification did not produce the resilience we expected from our portfolios. In short, it seemed as though modern portfolio theory might not be so modern anymore, but instead outdated. In this session, we will revisit Modern Portfolio Theory, and examine what it was and was not supposed to tell us about portfolio construction. We will explore some of the ways that we develop the inputs used in Modern Portfolio Theory and some problems that arise, with an eye on how portfolio construction may change in the future. WM 25 Life Insurance Policy Management: How to Dispose of the Policy Before They Dispose of the Insured SKA Charles Ratner, J.D., CLU, ChFC, National Director of Personal Insurance Counseling, Ernst & Young LLP, Cleveland, OH This session is designed to help you work with policyholders and their agents to address issues associated with the management of existing life insurance policies. Topics will include: Getting the right information Identifying the issues and concerns Deciding to repair, replace or surrender policies Selling policies in the life settlement market Learn more or to register cpa2biz.com/pfp

15 Conference Agenda 11:20 am - 12:35 pm 26 Regulatory Update on Financial Reform SKA PM (continued) R/E William Byrnes, Esq. LL.M., C.W.M., Professor & Associate Dean, Thomas Jefferson School of Law, San Diego, California This session will address the areas of the regulatory changes that impact wealth managers and financial planning products, including: Fiduciary standard Disclosures Accredited investor Mandatory arbitration Assets under management cap Private fund registration FDIC guarantees Indexed annuities Surplus lines producers Performance-based fees 27 Fiduciary Ethos SKA Donald Trone, RF TM, CEO, Strategic Ethos, Mystic, CT Fiduciary ethos is the link between leadership behaviors, core values, and a decision-making process. In this session Don Trone, regarded as one of the foremost experts on fiduciary responsibility, will introduce the new 2010 Fiduciary Standard and its decision-making framework which can be used to define a: Fiduciary standard of care consistent with the concepts of a harmonized fiduciary standard Financial planning standard Governance standard for a board of directors Project management standard for staff. Don also will talk about the leadership behaviors of highly effective professionals and how these behaviors help to build client trust and maintain client loyalty. 12:35 pm - 1:30 pm Luncheon 1:30 pm - 3:10 pm s im 28 A Cautious Approach to Global Investing SKA Charles de Vaulx, Portfolio Manager and Partner, International Value Advisers, LLC, New York, NY As a true global investor, Charles de Vaulx will offer his insights on the art of value investing. Charles will share the key pillars to his investment process, which includes a keen focus on risk control and not losing money. He will reveal some important lessons that can be learned from the financial crisis. Additionally, he will look across the globe and provide some thoughts on where he is currently finding opportunity (and perhaps where he is not). This session will cover more than just purely equities Charles will discuss bonds, gold and also cash, which he considers a valid asset class. The goals of this session are to learn about global investing from an industry leader, understand why a cautious approach makes sense for every client, and how, by focusing on what can go wrong, gains somehow take care of themselves. WM 29 Best Planning Ideas Panel SKA Moderator: Lyle K. Benson Jr., CPA/PFS, CFP, L.K. Benson & Company, P.C., Baltimore, MD Michael Kitces, MSFS, MTAX, CFP, Publisher of The Kitces Report, Kitces.com & Pinnacle Advisory Group, Columbia, MD Robert S. Keebler, CPA, MST, AEP, Partner, Keebler & Associates, LLP, Green Bay, WI Charles Ratner, J.D., CLU, ChFC, National Director of Personal Insurance Counseling, Ernst & Young LLP, Cleveland, OH Daniel Rubin, J.D., LL.M. (Taxation), Partner, Moses & Singer LLP, New York, NY This panel brings together thought leaders in key areas of financial planning who are some of the most highly rated speakers at the conference. They will share their best current financial planning ideas and strategies that you should consider implementing with clients now. 16 Register by 12/9/10 SAVE $75!

16 1:30 pm - 3:10 pm 30 Cloud Computing and the PFP: The Next Technology (continued) PM Frontier CS Joel P. Bruckenstein, CFP, Publisher, Technology Tools for Today (T3) Newsletter, Miramar, FL J.D. Bruce, Managing Director, Abacus Wealth Partners, LLC, Los Angeles, CA Rapid technological changes will have a significant impact on your practice in the future. Now is the time to get ahead of the curve and to start planning for the technologies that will drive your business in the years to come. Few PFP s fully understand how cloud computing will alter the way they do business. Join us for an explanation of how cloud computing will impact your practice and find out how some firms are already deploying cloud solutions to improve their efficiency and their bottom line. R/E 31 Tax-Efficient Portfolio Optimization & Tax-Efficient Withdrawal Strategies T Stephen M. Horan, Ph.D., CFA, Head, Professional Education Content and Private Wealth, CFA Institute, Charlottesville, VA Based on the discretionary wealth hypothesis, this session captures the essential elements of asset allocation, goal identification, and behavioral finance in a tax-efficient portfolio optimization context. It develops models of future aftertax accumulations and applies them to an asset allocation and asset location process. These principles are also developed in the context of tax-efficient withdrawal strategies from retirement portfolios. 3:10 pm - 3:40 pm Networking Break in Exhibit Hall 3:40 pm - 4:55 pm General 32 State of the Industry/Mission Possible: The Link Between Operational Efficiency and Increased Profitability BMO Mark Tibergien, Chief Executive Officer, Pershing Advisor Solutions LLC, Jersey City, NJ Mark Tibergien is Chief Executive Officer of Pershing Advisor Solutions, a BNY Mellon company. Previously, Mark was a principal in Moss Adams LLP, where he was Chairman of the Financial Services Industry Group. He has consulted with hundreds of financial services organizations in the U.S, Australia, and Canada. For the past eight years, Accounting Today has recognized Mark as one of the 100 Most Influential people in the accounting profession, and for the seventh time, Investment Advisor magazine recognized him as one of the 25 Most Influential people in the financial services industry. He authored two books Practice Made Perfect and How to Value, Buy or Sell a Financial Advisory Practice. In this economic climate, advisors need to take significant measures to protect profits while simultaneously developing processes around operations. This in-depth analysis of the operational risks facing the advisory industry, and the critical role human capital plays in helping to manage these risks, will highlight the recommendations detailed in Mission Possible. This session will help you understand the wide range of operational risks confronting advisory firms today which, if ignored, will create a slow erosion of operational efficiency that will adversely impact profitability and, ultimately, the quality of client service. 4:55 pm - 5:25 pm General 33 Professional Issues Update & AICPA PFP Division Distinguished Service Award Jim Metzler, Vice President Small Firm Interests, AICPA, New York, NY 5:30 pm - 8:00 pm PFP Division 25th Anniversary Celebration PFP section members and PFS credential holders are invited to celebrate the 25th anniversary of the PFP Division with peers, speakers, members from key AICPA PFP committees and AICPA staff! Learn more or to register cpa2biz.com/pfp

17 Conference Agenda Main Conference Wednesday, January 12 / Day three 7:00 am - 12:15 pm Registration & Message Center Open 7:00 am - 8:00 am Continental Breakfast in Exhibit Hall 7:00 am - 7:50 am s R/E WM PM R/E 34 Real World Media Experiences C Lyle K. Benson Jr., CPA/PFS, CFP, L.K. Benson & Company, P.C., Baltimore, MD Pam Krueger, Creator, Executive Producer & Co-Host, Networth TV Productions, Tiburon, CA William Roberts, Director - Media Relations, AICPA, Washington, DC Leonard Wright, CPA/PFS, Wealth Management Advisor/Investment Specialist, Northwestern Mutual Financial Network, San Diego, CA Learn how to better work with the media in your local market to enhance the image of the CPA/PFS. Take the topics that are on your client s minds and use them to educate the media on issues their audience faces. This panel consists of a national media expert, an AICPA media team member, and several experienced, media savvy, CPA/PFS practioners. 35 Boosting Your Profits with Tax-Efficient Portfolio Management! T Sheryl Rowling, CPA/PFS, CEO and Partner, Total Rebalance Expert, Moss Adams Wealth Advisors, San Diego, CA Advisors are feeling the crunch! Volatile markets, nervous clients, and squeezed profit margins make running an RIA practice harder than ever! How can you take charge? This session will make waking up early worthwhile while providing you with easily implemented tools to brand your firm as top notch turning your current clients into cheerleaders and attracting new clients! You will walk away with ideas that can be instantly converted into higher profits! Techniques for standardizing your methodology Adding tax-efficiency to portfolio management the easy way! Tooting your own horn: How to educate your clients into appreciating you! 36 Working with the Statement on Responsibilities (SORs) in PFP SKA Dirk Edwards, CPA/PFS, J.D., MBA, Edwards Consulting LLC, Portland, OR Scott Sprinkle, CPA/PFS, CFP, Co-Founder and Managing Partner, Sprinkle & Associates LLC and Sprinkle Financial Consultants LLC, Littleton, CO This Q&A format will help you understand and use the guidance provided by the SORs to enable you to offer the highest value to your clients while also meeting your responsibilities as a CPA. 37 How Well Do You Know Your Clients: Compliance/ AML Issues/Crossing Borders SKA William Byrnes, Esq. LL.M., C.W.M. Professor & Associate Dean, Thomas Jefferson School of Law, San Diego, CA This session will cover: Practical, cost-effective compliance strategies for KYC, KYCB, and KYCCs that will protect your firm and may help generate additional revenues though a better alignment of service needs Update on software and information products and their effectiveness for client identification Update on the most effective information services for foreign financial, company, trust and regulatory laws and forms An update on the FBAR and FATCA changes Really good conference. The speakers were at the correct level and confirmed my understanding of current planning techniques and added new knowledge. Alan Yates, Nussbaum, Berg, Klein & Wolpow, LLP, Melville, NY 18 Register by 12/9/10 SAVE $75!

18 8:10 am - 9:25 am Keynote 38 State of the Economy SKA David Kelly, Chief Market Strategist, J.P.Morgan Funds, New York, NY Dr. David Kelly is the Chief Market Strategist for J.P. Morgan Funds. With over 20 years of experience, David provides valuable insight and perspective on the markets to thousands of financial advisors and their clients. Throughout his career, David has developed a unique ability to explain complex economic and market issues in a language that financial advisors can use to communicate to their clients. He is a keynote speaker at many national investment conferences. David is also a frequent guest on CNBC, and other financial news outlets and is widely quoted in the financial press. Prior to joining J.P. Morgan Funds, David served as Economic Advisor to Putnam Investments. He has also served as a senior strategist/economist at SPP Investment Management, Primark Decision Economics, Lehman Brothers and DRI/McGraw-Hill. David is a CFA charterholder. He also has a Ph.D. and M.A. in Economics from Michigan State University and a B.A. in Economics from University College Dublin in the Republic of Ireland. In early 2011, the U.S. economy should be continuing its recovery from the unprecedented financial crisis of 2008/2009 and the deep recession it precipitated. However, relative to the aftermath of other big recessions, this recovery continues to look lackluster with consumer confidence still subdued due to high unemployment and key cyclical sectors of the economy still being restrained by tight credit. The private sector also continues to adapt to changes in tax rates while the public sector grapples with huge budget deficits. Despite economic uncertainty, corporate profits have continued to recover while interest rates remain very low. In this environment, both in the United States and around the world, stocks appear more attractive than bonds, although, as always, a diversified approach towards investing seems appropriate in an economy which remains far from well. In this session, Dr. Kelly will examine the outlook for the economy and investing at the start of :35 am - 10:45 am s im 39 Advanced Topics in Manager Due Diligence SKA Don Ezra, Co-Chair, Global Consulting, Russell Investments, New York, NY The state of the manager research art has advanced. It is no longer focused exclusively on a manager s investment competence. Today it also includes the manager s internal operations and business and risk controls. And the due diligence needs to be ongoing. WM 40 The Full Mont(e)y SKA James Shambo, CPA/PFS, President, Lifetime Planning Concepts, Inc., Colorado Springs, CO Monte Carlo software has become a frequent tool in the planner s toolkit, but its results are largely misunderstood, misused and miscommunicated in client presentations. Can the software deliver what planners want or do they want the unattainable? Join Jim as he addresses The Full Mont(e)y including: Choosing an appropriate distribution scheme Communicating results are your boots in the water? Communicating results are you confident in your confidence levels? Industry standards and best practices An alternative view, what you should be communicating Next generation tools will tactical processes improve the results? PM 41 Planning for Middle Income Clients SKA Jimmy Williams, CPA/PFS, MTAX, CEO/President, Compass Capital Management, LLC, McAlester, OK Attendees will learn the proven strategies of providing effective financial planning services to the middle income market. Examples of comprehensive reports as well as limited reports of a particular area will be reviewed. Specific software and other helpful tools will empower the participants to assist this market in reaching their financial goals! Learn how your staff can perform certain functions of the engagement to increase profitability and timely delivery of services! Walk away with the proven systems utilized by a successful financial planner to grow your practice! Interact directly with an experienced, successful CPA financial planner so you can learn from others mistakes! Learn more or to register cpa2biz.com/pfp

19 Conference Agenda 9:35 am - 10:45 am 42 The Economics of Loyalty: Tactics to Engage Clients and (continued) R/E Drive Growth SKA Julie Littlechild, President, Advisor Impact, New York, NY According to Julie Littlechild, client satisfaction and loyalty simply aren t enough. While important, neither of these metrics define the ultimate goal, which is to build a base of loyal and satisfied clients who also give back through referrals. This presenter will share her research gathered from tens of thousands of clients, focusing on what they need, want and expect in an advisory relationship. More importantly, Julie will examine client engagement, a new standard for client relationships and practical ideas and tactics to leverage engagement into client referrals. 10:45 am - 11:00 am Refreshment Break 11:00 am - 12:15 pm s im 43 Commodity Investment: Why and How SKA Bob Greer, Executive Vice President, Real Return Product Manager, PIMCO, Newport Beach, CA This presentation, from a long-time practitioner in the commodities industry, will explain the portfolio benefits of commodity investment, the drivers of return to this asset class, and the major issues faced by investors as they approach this type of investment. WM 44 Risk Tolerance SKA Geoff Davey, Co-Founder & Director, FinaMetrica Pty. Limited, Sydney, Australia Managing your client s risk tolerance is a major challenge in professional practice. In this session, you will learn: the nature of risk tolerance Where it differs from risk capacity and risk required How to make a proper assessment of risk tolerance How to apply that assessment in the planning process Why current industry practice fails to meet a fiduciary standard PM 45 Transforming Your Business with CRM SKA Erin Kincheloe, Director of Consulting & Training, Junxure, Palm Beach, FL When is a CRM not just a data storage tool? When it is designed, from the ground up, to help you strengthen client service and loyalty, streamline office efficiency and boost both productivity and profitability. This session will discuss how the top features and functions found in the leading CRM systems can positively impact your practice, including: Workflow Client communication Data mining New business and prospect tracking Integration Client web portals Business analysis tools R/E 46 Advanced Case Studies on the Financial Issues of Aging SKA Ted Sarenski, CPA/PFS, CFP, President/CEO, Blue Ocean Strategic Capital, LLC, Syracuse, NY Michael Schulman, CPA/PFS, Schulman CPA, Central Valley, NY The recent economic decline has brought unprecedented financial challenges for older adults. The declines in the value of investment portfolios and housing prices force many older adults to rethink the plans for their golden years. Perhaps an anticipated retirement date will be extended by a few more years, or, conversely, business contraction will bring an unexpected layoff. Expanded life expectancies puts pressure on anticipated medical costs, and estate planning is still in a state of uncertainty. In this session, we will examine a variety of circumstances facing today s older adults and discuss the options available to them. 12:15 pm Conference Adjourns 20 Register by 12/9/10 SAVE $75!

20 The AICPA s Personal Financial Planning Section is the premier provider of information, tools, advocacy and guidance for CPAs who specialize in providing estate, tax, retirement, risk management and investment planning advice to individuals and closely held entities. All members of the AICPA are eligible to join the PFP Section. If you are a CPA who wants to demonstrate your expertise in this subject matter, become a Personal Financial Specialist credential holder. For more information go to: Distinguish Yourself with the Personal Financial Specialist (PFS) Credential The AICPA s Personal Financial Specialist (PFS) credential is granted to CPAs who want to demonstrate their financial planning knowledge, skill and experience by earning this exclusive credential. A CPA who holds the PFS is recognized for a unique ability to combine objective advice with comprehensive, professional planning. Meet with AICPA staff and PFS credential holders at the PFP booth, where they will provide you with more information about the program. Enjoy special activities for PFS credential holders and candidates at the conference. PFS credential holders also have access to other exclusive benefits, including media and marketing. The annual certification fee includes membership in the AICPA Personal Financial Planning Section. Visit for more information about program eligibility and requirements, or phone , option 4, or pfs@aicpa.org to contact an AICPA Service Center representative who can answer your questions directly. An Eco-Friendly and Paperless Initiative In an effort to be more environmentally friendly, cost conscious and forward-thinking, AICPA Meetings & Conferences is offering participants access to conference materials via a speaker materials website in advance of the conference. *Conference manuals with session outlines will not be provided onsite Free Access to Conference Recordings *Be sure to supply a valid address when registering. Instructions to access the speaker materials and conference recording website [AICPAConferenceMaterials.com] are distributed via approximately two weeks prior to the start of the conference. Also, add service@aicpa.org to your safe sender list. Learn more or to register cpa2biz.com/pfp