presents The 16 th Annual Symposium & Exhibition October 30, 2015 Complex Problems Simple Solutions

Transcription

1 presents The 16 th Annual Symposium & Exhibition October 30, 2015 Complex Problems Simple Solutions

2 We are pleased to announce that the FPA of Long Island s 16th Annual Symposium will be held on Friday, October 30th at the Crest Hollow Country Club in Woodbury, NY! Each year, the Symposium Committee, along with volunteers and sponsors, work diligently to handpick speakers and topics we feel will enhance the financial planning profession. After getting feedback from last year s symposium, we focused on getting speakers to present topics many of you requested. By attending the symposium you are eligible to walk away with 8 CFP and/or CPA credits and up to 4 New York State life insurance credits, but also my hope is that you leave having a refreshed perspective and enlightened view on new opportunities for your practice. I am proud and pleased to announce this year s roster of speakers! The day begins with Richard Bloom, CPA, PFS, MST and Michael Rudegeair, CPA, CFP of WeiserMazers, LLP presenting an update on the federal and New York State individual income, estate, and gift tax landscape. Following the tax update, Dr. Quincy Krosby from Prudential Annuities will speak about navigating the intricacies of the global economy. She has presented to us in the past and was fabulous! During our Luncheon Session, we are joined by Peter Lefkin of Allianz speaking about simplifying the complexity of fiduciary duty regulations. In addition to our nationally recognized Keynote Speakers, we have wealth of presentations for your selection within our breakout and afternoon conference sessions. Please look through the detailed agenda within this brochure for more information. I encourage you to attend a breakout session you might not normally select - you may be pleasantly surprised! Please join the conversation and let us know your thoughts and comments about this year s symposium. You can connect with us on Facebook and LinkedIn or feel free to [email protected] to give us your input. I would like to extend my gratitude to my committee, the volunteers, our generous sponsors, and Janet Cino, our chapter administrator. Your dedication and efforts make this symposium possible and I greatly appreciate all your hard work. Sincerely, Craig J. Ferrantino, CWS 2015 FPA LI Symposium Chair

3 Richard J. Bloom, CPA, PFS, MST Partner Richard has more than 20 years of experience delivering specialized personal tax and financial planning services to high net worth individuals, including closely held business owners, executives, and hedge fund managers. He provides tax consulting; income and estate tax planning; federal, state and local tax compliance services; and representation before federal and state tax authorities for such individuals. Richard works with clients on multi-generational tax planning, philanthropic planning, wealth preservation strategies, and risk management. Prior to joining WeiserMazars, Richard held senior executive positions at two prominent family office advisory firms and was National Leader of Trusts and Estates at a major accounting firm. He has over 17 years of Big 4 personal financial planning experience. Richard received his Bachelor of Science in Accounting from the University of Delaware and his Master of Science in Taxation from Seton Hall University. Michael F. Rudegeair, CPA, CFP Senior Tax Manager Michael has over 15 years of experience as a tax and wealth adviser for high-net-worth individuals, trusts, estates, and private foundations. He provides income tax consulting (including personal and fiduciary income tax); transfer tax consulting (including gift, estate, and generation-skipping transfers); federal, state and local tax compliance services; representation before federal and state tax authorities; and trust administration services. Prior to joining WeiserMazars, Michael worked for a multi-family office and two regional accounting firms. His clients include individuals, multi-generational families, family trusts, family limited partnerships, and private foundations, with net worths between $20M and $135M. Michael received his Bachelor of Science in Ag. Economics (Business Management) from Cornell University, a Certificate in Accounting from Hofstra University, and a CFP Certificate from New York University s School of Continuing and Professional Studies. Tax Update Keynote Speakers Sponsored by WeiserMazars

4 Dr. Quincy Krosby Chief Market Strategist for Prudential Annuities Dr. Quincy Krosby is the Chief Market Strategist for Prudential Annuities. In this capacity, she is a member of the investment management group for the annuities division, where she provides perspective on the global macro-economic environment and financial markets. Previously, Dr. Krosby was the chief investment strategist for The Hartford, and global investment strategist for Deutsche Bank Asset Management. She also worked in the global markets groups at Credit Suisse and ING Barings. Earlier in her career, Quincy Krosby was a U.S. diplomat, serving in Washington and United States embassies abroad, including a posting as Energy Attache at the U.S. Embassy in London. In addition to numerous assignments at the U.S. Department of State, she served as Assistant Secretary of Commerce, and represented the United States to the International Monetary Fund, positions which required confirmation by the United States Senate. Dr. Krosby studied at the London School of Economics, where she earned her master s and doctoral degrees. She is frequently quoted in the financial press and on business television. Morning Keynote Speaker Sponsored by Prudential Annuities

5 Peter A. Lefkin Senior Vice President of Government and External Affairs, Allianz of America Corporation Peter Lefkin is a 27 year veteran of Allianz and came to the company through its Fireman s Fund subsidiary in He is Senior Vice President of Government and External Affairs and the head of the Washington, DC Representative office. He is responsible for federal and national government affairs activities of the Allianz family of companies in North America, including Allianz Life, PIMCO, Allianz Global Corporate and Specialty, Allianz Global Investors, Allianz Global Assistance and Euler Hermes. Peter has served as the Chairman of the Government Affairs Committee of the American Insurance Association, the Financial Services Roundtable and the Insured Retirement Institute. He has also been a member of the Executive Committee of the Organization for International Investment. He has a broad understanding of financial services public policy issues, and is very well connected in the Washington, DC lobbying community. He is also very involved in German American Relations and is a Board Member of the German American Business Council. He also has been involved in working with the American Jewish Committee and the Conference of President of Major Jewish Organizations. He serves on the Board of Directors of Moment Magazine. An avid traveler, hiker, runner and biker, Peter has visited more than 75 countries, climbed mountain peaks in Africa, Russia, and Asia, and engages in multi-day long distance bicycling as an avocation. A graduate of the George University of Foreign Service, the Syracuse University College of Law and the Maxwell School of Citizenship at Syracuse University, he makes his home in Washington, DC and Lost River, West Virginia. Luncheon Keynote Speaker Sponsored by Allianz Life Financial Services, LLC

6 2015 Symposium Sponsors Platinum Level Sponsors Allianz Life Financial Services, LLC Prudential Annuities WeiserMazars LLP Gold Level Sponsors American Portfolios Financial Services, Inc AMG Funds The Burns Law Group, PC Invesco PowerShares Nationwide Financial New York Life MainStay Investments New York Long Term Care Brokers, Ltd. NEXT Financial Group Security Mutual Life Insurance Co of NY Sound Wealth Financial Group TD Ameritrade Vanguard Financial Advisor Services Vanguard Funding LLC Walton International Group (USA), Inc. Silver Level Sponsors American Funds Charles Schwab Advisor Services Crump Life Insurance Mutual of Omaha Delaware Investments Hartford Funds Invesco Investacorp, Inc. Microsoft Morningstar Pacific Life & Annuity Company SEI Investments Transamerica

7 2015 FPA of Long Island Annual Symposium & Exhibition Crest Hollow Country Club October 30, 2015 AGENDA 7:30 AM Registration 8:00 AM 9:00 AM Tax Update 9:00 AM 10:00 AM General Session 10:00AM 11:00 AM Break 11:00 AM 11:50 AM Breakout Session 1 Federal & NY Individual Income and Estate/Gift Tax Landscape Welcome & Announcements Navigating the Global Economy Break in Exhibit Hall and Continental Breakfast Cash Value Life Insurance, as Risk Management Tool 11:00 AM 11:50 AM Breakout Session 1 Alternative Investing: A Key to New Possibilities 11:00 AM 11:50 AM Breakout Session 1 The New Reverse Mortgage and 7 Ways to Use it as a Financial Planning Tool 11:00 AM 11:50 AM Breakout Session 1 Sales for Non-Sales Professionals 11:50AM 12:20 PM Break Break in Exhibit Hall 12:20 PM - 1:10 PM Breakout Session 2 The Evolution of LTC Insurance Products & Planning 12:20 PM - 1:10 PM Breakout Session 2 Active Indexing 12:20 PM - 1:10 PM Breakout Session 2 Public Pension Plan Reform: How Safe Are Your Municipal Bonds? 12:20 PM - 1:10 PM Breakout Session 2 Buying or Selling a Financial Practice 1:10 PM 2:40 PM General Session Luncheon and General Session New U.S. Department of Labor Fiduciary Duty Regulations 2:40 PM 3:10 PM Break Break in Exhibit Hall Dessert & Coffee 3:10 PM 4:00 PM Breakout Session 3 Medicaid Planning 3:10 PM 4:00 PM Breakout Session 3 Diversifying Within Real Estate 3:10 PM 4:00 PM Breakout Session 3 Implementing ETFs in Your Business: Evolution of Indexing & Decoding Smart-Beta 3:10 PM 4:00 PM Breakout Session 3 ROBO-You 4:10 PM 5:00 PM PM Session 1 Transfer of Policies and Transfers for Value 5:10 PM 6:00 PM PM Session 2 Advanced Planning for Financial Planners

8 FPA of Long Island Symposium Agenda Friday, October 30, :30 AM Registration Desk Opens 8:00-9:00 AM Tax Update Session - Federal and New York Individual Income and Estate/Gift Tax Landscape Keynote Speakers: RICHARD BLOOM, CPA, FPS, MST and MICHAEL RUDEGEAIR, CPA, CFP The session will cover the federal and New York individual income and estate/gift tax landscape. Included will be a discussion of the current tax rates, exemption amounts, net investment income tax, recent developments, and ideas to consider as part of year end income and estate tax planning. 9:00-10:00 AM Welcome and Announcements Morning General Session Navigating the Global Economy Keynote Speaker: DR. QUINCY KROSBY As the global economy begins to emerge from the slowdown which limited investment options, clients are once again looking abroad for opportunity. While central banks continue to provide accommodating policies, the Federal Reserve has discussed the possibility of slowing the quantitative easing program which helped underpin global market confidence. Clients will focus on the sustainability of the global recovery as well as the change in the interest rate environment. Clients are concerned about the future and the impact of uncertainty on their retirement. This course provides insight on current trends and provides ideas for clients to consider in using variable annuities that may help provide some strategies in charting their retirement for the long term. (1 CE credit for CFPs and/or CPAs and/or 1 NYS Insurance CE - NYCR ) 10:00-11:00 AM Break 1 EXHIBIT HALL OPEN Visit with our Partners and Enjoy a Continental Breakfast 11:00-11:50 AM Breakout Session 1 Select one Cash Value Life Insurance, as Risk Management Tool Speaker: GEORGE B. KOZOL, J.D., LL.M., CLU Attorney George Kozol will offer life insurance based planning tactics that a financial planner can employ to help his or her upper middle class and mass affluent clients as they transition into their retirement years. The session will begin with a consideration of 3 risks that can compromise a client s

9 retirement lifestyle: (1) income tax burdens; (2) rate of return issues, and (3) chronic illness concerns. In considering these risks attorney Kozol will draw from the fields of economics, demographics, politics and psychology for insights as to how financial planners might help their clients better understand the risks and address them. The session will then turn to consider what conventional wisdom would have clients do to address the 3 risks. Finally, attorney Kozol will demonstrate how to construct a life insurance policy that can serve as a financial management tool, a tool that can be employed to mitigate income tax, rate of return and chronic illness risks. Alternative Investing: A Key to New Possibilities Speaker: GREG STERZEL, CFA, CAIA, AAMS This session is designed to give you an overview and understanding of the different types of Alternative Investments in both the Equity and Fixed Income asset categories. It will also discuss how to implement and utilize different alternative investment strategies in your client s investment and retirement portfolio to help meet investment and income objectives. The New Reverse Mortgage and 7 Ways to Use it as a Financial Planning Tool Speaker: RUSSEL SPORN We will briefly go over the basics of the reverse mortgage and then go into the new changes to the program. We will discuss the Financial Analysis of the reverse; the different uses of a reverse mortgage; ways to use a reverse mortgage as a financial planning tool for senior retirements; and rules and changes in the program. Sales for Non-Sales Professionals Speaker: DAN KLEIN, Certified Financial Services Coach, ACC During this presentation attendees will hear ideas on how to re-frame the perception of sales to help them become more effective in looking to acquire new clients. We will cover a six step Sales Process designed to assist in implementing a sales strategy within an organization and also discuss some practical ways to connect better with prospects (and clients) through understanding how they prefer to communicate. This session also focuses on identifying leverage with client advocates and center of influence in implementing this strategy. (Practice Management no CE credit)

10 11:50 AM-12:20 PM Break 2 EXHIBIT HALL OPEN Visit with Exhibitors Network Time Coffee Break 12:20-1:10 PM Breakout Session 2 Select one The Evolution of LTC Insurance Products & Planning Speaker: ROBERT M. VANDY, CLU, ChFC, LUTCF, CLTC As demographic changes have continued in our society, the need to plan in advance for the potential of a long-term care (LTC) event becomes increasingly important. Despite this trend, the Traditional LTC Insurance market has struggled in recent years to both satisfy the ever-increasing need for appropriate financing of the LTC risk, as well as to do so in the face of broader economic and financial realities that have placed tremendous pressure on that market. In an effort to remain relevant to consumers, while also retaining the possibility of at least some level of long-term profitability, the market has responded with higher rates, tighter underwriting and more restrictive policy benefits and provisions. Newer types of products have also emerged that provide benefits for, for example, both LTC or chronic illness and death benefits via a life insurance component. In this session, we will examine the changes that have taken place in the LTC planning realm in recent years, examine (in a cross-sectional approach) the state of that realm today, and offer possibilities for what the future may hold. Ultimately, our goal is for the planner to find the best solution to fit the specific consumer need and continuously ask the question What s The Alternative? (1 CE credit for CFPs and/or CPAs and/or 1 NYS Insurance CE NYCR ) Active Indexing Speaker: JIM ROWLEY, CFA Our presenter will discuss the evolving role of ETFs in the indexing landscape and will examine drivers of ETF growth. We will also explore factors affecting ETF liquidity; suggest considerations for portfolio construction using ETFs, and share best practices for ETF trading. Public Pension Plan Reform: How Safe Are Your Municipal Bonds? Speaker: Sheila R. May, CFA This presentation will address the multitude of Pension Reform debates states across the nation are having, the impact they will have on credit ratings and, in turn, bond prices. Specifically, with so many Pension Systems underfunded (i.e. PA, NJ, IL) Sheila will address how portfolios are being managed to reduce exposure and capitalize on market weakness.

11 1:10-1:40 PM Luncheon Buying or Selling a Financial Practice Speaker: BRIAN C. GRISE When it comes to buying or selling a practice, most advisors are not sure where to begin. From tedious tasks such as paperwork to overwhelming projects like due diligence, the acquisition process takes time and dedication. Hear from Prestige Acquisitions VP of Practice Acquisition and Transition, Brian Grise, as he shares his insight on acquisition and succession planning. This informative presentation will feature tips for buyers and sellers, acquisition essentials and much more. Find out how you can start planning for your practice s future with Prestige Acquisitions. (Practice Management no CE credit) 1:40-2:40 PM General Session The Challenges Ahead: The New U.S. Department of Labor Fiduciary Duty Regulations - Confronting Headwinds from Washington, DC While Servicing the Needs of Your Clients Keynote Speaker: PETER A. LEFKIN, Senior Vice President of Government and External Affairs, Allianz of America Corporation The recently proposed U.S. Department of Labor Regulations will fundamentally alter how retirement products are manufactured, offered and distributed. It is bringing forth a complex regulatory system that is complex, confusing and not yet fully understood. The challenges ahead are how will this change product offerings, as well as the relationship between distributors and their clients. Many fear that the proposed regulation will have many unintended consequences, such as creating a bias against Commissions that will move distribution into fee based services. Industry says that this might make it more difficult for those with smaller accounts, who might need advice the most, to continue to receive services. Financial Services companies have been following a three prong strategy to address what they believe are the rule s many deficiencies. First, is to seek changes and clarification to the rule. Second is to promote Congressional action that would block the Department of Labor from acting. Third, is to develop a litigation strategy challenging the legality of that which is being done. 2:40-3:10 PM Break 3 EXHIBIT HALL OPEN Last Visit with Exhibitors Dessert & Coffee Stations

12 3:10-4:00 PM Breakout Session 3 Select one Medicaid Planning What Financial Planners Need to Know for Proactive Clients and Clients in Crisis Speaker: LAURA J. BURNS, ESQ. This program will focus on Medicaid qualifications, including dispelling myths regarding Medicaid eligibility for home care and nursing home services. The program will discuss planning techniques for proactive clients as well as options available to clients who are confronted with a medical crisis. Diversifying Within Real Estate Speaker: JUSTIN SHABERLY The objective is to educate members about the Real Estate Cycle and the diversification within each stage. Attendees with all experience levels will gain valuable insights in this overview of real estate investments with sample portfolio uses, historical returns of various asset classes, land investment Risks & Rewards, credible indicators, the 5 stages of land development and their associated investment options. Implementing ETFs in Your Business: Evolution of Indexing & Decoding Smart-Beta Speaker: BRIAN LAUX, Senior Regional Vice President ETFs are the fastest growing financial product in our industry and are being utilized by many of the largest advisor teams in the country. PowerShares is the leader in Smart-Beta ETFs, which are ETFs that provide strategies beyond traditional passive benchmarking. This smart beta segment is the fastest growing area within the ETF industry, and this presentation will provide an overview of the ETF space and will discuss how advisors are implementing the most widely used Smart Beta strategies. ROBO-You Speaker: KEITH KELLY, CRPC, AIF The robo-advisor phenomenon is very real. It WILL impact our industry and YOUR business. Robo-advisors have been around for a long time and there are more of them out there than you think Fact is, the true robo-advisor is you. This session will share how the robo-advisor phenomenon is shaping the industry, why it s a good thing and how advisors can benefit from it like never before. (Practice Management no CE credit)

13 4:10-5:00 PM PM Session 1: Transfer of Policies and Transfers for Value Speaker: DAVID K. SMUCKER, CPA, MSM, CLU, ChFC This presentation will discuss the tax consequences of transfers of life insurance policies, the consequence to the transferor, and the transferee. We will cover the income tax consequences, as well as the estate and gift tax consequences. We will have a quick look at the relevant parts of the Internal Revenue Code and at guidance from the IRS in the form of a Revenue Ruling. (1 CE credit for CFPs and/or CPAs and/or 1 NYS Insurance CE - NYCR- ) 5:10-6:00 PM PM Session 2: Advanced Planning for Financial Planners Speaker: MARK BADAMI, CFP This course will cover pension plan design, advanced planning and retirement planning. (1 CE credit for CFPs and/or CPAs and/or 1 NYS Insurance CE - NYCR- ) As the premier membership organization for financial planning professionals, the Financial Planning Association (FPA ) is the community that fosters the value of financial planning, and advances the practice and profession of financial planning. FPA brings together those who deliver financial planning, those who support it and those who benefit from it. TOP 5 REASONS to attend the 2015 FPA of Long Island Symposium 1. You are a PROFESSIONAL. Our topics are current, in the news and timely. A great source of topics for discussion with your clients. 2. This is the most Comprehensive Financial Planning conference on Long Island. Our speakers will be leading discussions on a variety of topics including alternative investments, long term care insurance, federal tax law changes, reverse mortgages, the global economy, pension plans, Medicaid planning, diversifying within real estate, ETFs, the new Department of Labor Fiduciary Duty regulations, practice management ideas and more You can t get this anywhere else!!! 3. Network with your peers - meet with the top planners, advisors and industry vendors in our region - develop new friendships and business partnerships. 4. Earn up to 8 continuing education credits for CFPs and CPAs, and up to 4 NYS insurance credits. 5. Help Support Your FPA Chapter!

14 Enjoy this occasion to rub elbows with the best and brightest in the financial planning profession. Credits Offered: Attendees can earn up to 8 Continuing Education Credits for CFP s and CPAs; 4 NY State Insurance CE credits are also offered for select sessions. See agenda for details Symposium Fee Schedule Before 10/16/2015 After 10/17/2015 FPA Member $ $ Non-Member $ $ FPA Mbr CFP Student $99.00 $ Non-Mbr CFP Student $ $ Online Registration - Preferred Method Go to Anyone interested in attending can go online and register 24 hours a day, seven days a week. Or use the registration form on the next page and follow the instructions given there. Refund Policy: A full refund will be granted as long as you contact us in writing by October 16, Refunds will not be granted after October 16, 2015; however, substitutions can be made at any time at no charge. Symposium Materials: Available for download on October 19, Go to We suggest attendees download course materials prior to the Symposium; this will make it more convenient to follow on your laptop or notepad and those who prefer paper copies can print them out at their convenience. Crest Hollow Country Club 8325 Jericho Turnpike, Woodbury, NY ; website For directions go to Crest Hollow Country Club website Questions? Please contact the Chapter Administrator, Janet Cino: Phone Fax [email protected] Website

15 FPA OF LONG ISLAND ANNUAL SYMPOSIUM & EXHIBITION OCTOBER 30, CREST HOLLOW COUNTRY CLUB, WOODBURY, NY Registration Form - Mail form and payment to: FPA Long Island, 1895 Lincoln Avenue, East Meadow, NY Name: Name for Nametag, if different: Professional Designations: Company: Address: Phone: CFP License #: CPA License #: NYS Insurance License #: Broker/Dealer: Please indicate which sessions you will be attending below: Tax Update Session (8:00-9:00 AM) Federal and NY Individual Income and Estate/Gift Tax Landscape: m I plan to attend m I do not plan to attend this session General Session (9:00-10:00 AM) Navigating the Global Economy (NYCR ): m I plan to attend m I do not plan to attend this session Breakout Session 1 (11:00-11:50 AM) m Cash Value Life Insurance, as Risk Management Tool m Alternative Investing: A Key to New Possibilities m The New Reverse Mortgage and 7 Ways to Use it as a Financial Planning Tool m Sales for Non-Sales Professionals Breakout Session 2 (12:20-1:10 PM) m The Evolution of LTC Insurance Products & Planning (NYCR ) m Active Indexing m Public Pension Plan Reform: How Safe Are Your Municipal Bonds? m Buying or Selling a Financial Practice Luncheon General Session (1:10-2:40 PM) The Challenges Ahead: The New U.S. Department of Labor Fiduciary Duty Regulations Confronting Headwinds from Washington, DC While Servicing the Needs of Your Clients: m I plan to attend m I do not plan to attend this session Breakout Session 3 (3:10-4:00 PM) m Medicaid Planning What Financial Planners Need to Know for Proactive Clients and Clients in Crisis m Diversifying Within Real Estate m Implementing ETFs in Your Business: Evolution of Indexing & Decoding Smart-Beta m ROBO-You PM Session 1 (4:10-5:00 PM) m Please check if you plan to attend Transfer of Policies and Transfers for Value (NYCR- ) PM Session 2 (5:10-6:00 PM) m Please check if you plan to attend Advanced Planning for Financial Planners (NYCR- )

16 1895 Lincoln Avenue East Meadow, NY U.S. POSTAGE PAID PERMIT # 14 HUNTINGTON, NY