Help your clients make sense of Medicare
This column offers suggestions on the issues you should discuss with your clients.
Practice Management
Preserve family wealth—and your practice—by engaging the next generation
As wealthy Baby Boomers transfer their assets to Millennials, CPAs can help families preserve their assets and build loyalty to the firm by developing relationships with the younger heirs.
AICPA updates guidance for CPA personal financial planners
The AICPA has updated its guidance on the competencies and information that CPAs who provide financial planning services need to know.
How to work with a grieving client
A growing elderly population means an increasing number of clients losing spouses, and CPAs with strong emotional intelligence will have better relationships with their clients and get more referrals.
The elder planning documents your clients must have
It’s vital that your clients have certain documents in place to protect themselves and their assets in the event of their physical or mental incapacity.
SEC seeks transition plan requirements for investment advisers
CPAs registered as investment advisers with the SEC would have to develop and implement written business continuity plans under a rule proposed by the commission.
6 tips for paying off your student loan debts
Students can practice smart financial management habits that help ensure they’re able to pay off their loans.
Make your practice senior-friendly
By making a few small changes to their offices and communication styles, CPAs can help elderly clients feel more comfortable, well-respected, and secure.
Don’t let clients overlook these key estate planning issues
This column can help clients visualize the consequences of not having an up-to-date plan.
Meeting the financial planning challenges of the future
Discover strategies your firm can use to cope with aging clients, higher health care costs, and the threat of robo-advisers.
Survey: Financial planning services help firms retain clients, increase revenue
Adding personal financial planning (PFP) services can help a CPA firm attract and retain clients and increase its revenue, the AICPA’s recent Economic Benefit of PFP Services survey found.
QDROs demand the attention of CPAs
Expertise in qualified domestic relations orders and dividing retirement benefits in divorce can be a valuable accounting and tax specialty.
The accidental investment adviser
CPAs often are solicited for advice regarding potential investments. A CPA should refrain from providing specific investment advice unless he or she has been adequately trained and licensed to serve as an investment adviser.
The new PFP standards
CPAs advising clients in estate, retirement, investment, or risk management planning need to understand the new Statement on Standards in Personal Financial Planning Services that was issued in January and goes into effect on July 1, 2014. The following are some key provisions personal financial planning (PFP) practitioners should note:
SEC strengthens broker-dealer audit requirements
The SEC on Wednesday approved rule amendments that strengthen audit requirements for broker-dealers. The amendments are intended to increase protections for investors whose money and securities are turned over to SEC-registered broker-dealers. The final rules are available on the SEC’s website. Under previous rules, broker-dealers are required to file annual
PFP Q&A: Planning for change
With the Baby Boomer generation hitting retirement age, personal financial planning has become an increasingly important service for many accounting firms. But practitioners are dealing with plenty of changes, including the implementation of new tax laws and the landmark rollout of new standards. The JofA assembled a team of industry
Proposed PFP services standards available for public comment
The AICPA released an exposure draft of a Proposed Statement on Standards in Personal Financial Planning Services on Tuesday as part of an initiative that’s expected to help boost the profile of CPA personal financial planning (PFP) practitioners. The proposal outlines members’ responsibilities in PFP engagements. These responsibilities include: General
Proposed Statement on Standards in Personal Financial Planning
This spring, following a two-year drafting process involving practitioners from across the AICPA, the AICPA Personal Financial Planning Executive Committee issued an exposure draft for public comment on a Proposed Statement on Standards in Personal Financial Planning Practice. The proposed statement addresses the responsibilities of AICPA members when providing personal
Make your community more financially literate
Ninety-four percent of Americans say they have financial concerns of some sort, according to a 2012 Harris Interactive Survey conducted on behalf of the AICPA. These concerns range from the rising cost of gas to lack of emergency savings to retirement planning. Since launching in 2004, the award-winning 360 Degrees
A wealth of opportunity
Much has been written in recent years about wealth management services that call for practitioners, including CPAs, to have personal financial planning certification and to come under investment-adviser or other regulations. Much less attention has been paid to PFP services that don’t require specialization or additional licensing. One of these
