advanced personal financial planning - moses & singer · updates during the 2015 advanced...

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Advanced Personal Financial PlanningConference


Continuing Education Credits AvailableCPA | PFSTM | CFA | CIMA | CFP

January 19–21, 2015Bellagio • Las Vegas, NV

January 18Optional Pre-conference Workshops

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Discover critical insights and high-level guidance, directly from the experts, on how to address your clients’ needs. With a track that suits your interests, you’ll gain valuable technical knowledge and the know-how for immediate implementation in your practice.

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Insurance and Risk

ManagementExplore a range of topics to protect

your clients’ wealth and secure your

business.

Practice Management

and TechnologyEngage in sessions to

explore new ideas you can use now, to benefit your practice

or business.

Investment Management

Maximize key asset management strategies to better serve your clients.

NEW IN 2015!

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Retirement Planning

Gain new insights to advise your clients and maximize their retirement income.

Wealth Management

and TaxEnhance and

refine your client tax, planning and financial services.

Customized Tracks for Focused Learning

Advanced Personal Financial PlanningConference


What’s New in PFP

Your clients are looking for financial guidance in a world of complexity and uncertainty. Take important steps to deepen client relationships by gaining knowledge of cutting-edge strategies, innovative ideas, best practices and key updates during the 2015 Advanced Personal Financial Planning Conference.

Over the course of three intensive days, you will have access to thought leaders who will offer tax and economic insights, new planning ideas, a clear understanding of the global environment and market outlook, as well as technical topics. Learn how to maximize your opportunities and bring the greatest value to your clients — in one advanced, all-encompassing conference.

Attend the best and most advanced personal financial planning conference in the profession.

Experience the Exceptional


Early-Bird Discount SAVE $75 • Expires 4/28/14

Keynote Speakers


Mitch AnthonyMitch Anthony consults with U.S. and globally based advisory teams and major financial services organizations on relationship development and financial life planning. A popular keynote speaker, Anthony is the author of more than

a dozen groundbreaking books, including the bestseller StorySelling for Financial Advisors, now in its fourth edition.

Arthur B. Laffer, Ph.D.Dr. Arthur B. Laffer is founder and chairman of Laffer Associates and was a member of President Reagan’s Economic Policy Advisory Board for both of his two terms. Laffer also advised Prime Minister Margaret

Thatcher on fiscal policy in the U.K. during the 1980s. He is often referred to as “The Father of Supply-Side Economics.” He has been a faculty member at the University of Chicago, University of Southern California and Pepperdine University.

Cam MarstonAn author, columnist, blogger and lecturer, Cam Marston imparts a clear understanding of how generational demographics are changing the landscape of business. For more than 15 years, Marston and his

firm, Generational Insights, have provided research and consultation on generational issues to hundreds of companies and professional groups, ranging from small businesses to multinational corporations, as well as major professional associations.

Barry C. Melancon, CPA, CGMAUnder Barry C. Melancon’s leadership, the AICPA has spearheaded private company financial reporting standards, eXtensible Business Reporting Language (XBRL), the computerized CPA exam, audit quality centers, two consumer

financial literacy education programs and several other notable endeavors. Additionally, he led the AICPA, in partnership with the Chartered Institute of Management Accountants (CIMA), to establish the Chartered Global Management Accountant (CGMA®) designation to elevate management accounting globally.

A Sampling OfOur ProminentSpeakersDavid Blanchett, CPA, CFA, CFP, AIFA, Head of Retirement Research, Morningstar Investment Management

Paul Bouchey, Managing Director — Research, Parametric

Joel Bruckenstein, CFP, Publisher, Technology Tools for Today

Kelli Cruz, Founder & Managing Director, Cruz Consulting Group

Harold Evensky, CFP, Chairman, Evensky & Katz/Foldes Financial

Michael Finke, Professor, Director, Retirement Planning and Living, Personal Financial Planning, Texas Tech University

Amy Florian, MPS, FT, CEO, Corgenius

Christine E. Gaze, CIMA, President, Purpose Consulting Group

Roger Gibson, CFA, Chief Investment Officer, Gibson Capital

Robert Keebler, CPA/PFS, CGMA, MST, AEP (Distinguished), Partner, Keebler & Associates LLP

Michael Kitces, MSFS, MTAX, CFP, CLU, ChFC, Publisher, The Kitces Report, Partner, Pinnacle Advisory Group

Paul Lee, J.D., LL.M., National Managing Director, Bernstein Global Wealth Management

Tim Maurer, CFP, Director of Personal Finance and Wealth Advisor, The BAM Alliance

Steven J. Oshins, Esq., J.D., AEP (Distinguished), Attorney, Oshins & Associates

Wade Pfau, CFA, Ph.D., Professor, The American College

Bill Winterberg, CFP, Founder, FPPad.com

Diana S.C. Zeydel, J.D., LL.M., National Chair, Trusts & Estates, Greenberg Traurig P.A.

David Kelly, Ph.D.Dr. David Kelly is the chief global strategist and head of the Global Market Insights Strategy Team for J.P. Morgan Funds. With over 20 years of experience, he has developed a unique ability to explain complex economic and

market issues in a language that financial advisers can use to communicate to their clients. He is a frequent guest on CNBC and other financial news outlets and is widely quoted in the financial press.



Learning PathEmerging financial planning professionals will derive great benefit from exposure to the advanced concepts, key updates, technical strategies and networking opportunities offered in the Advanced PFP Conference. The Emerging Leaders Learning Path is customized for professionals with fewer than 10 years of financial planning experience and fewer than 15 years in the CPA profession.

Conference discounts are available for eligible applicants. Email [email protected] for additional details.

Students and ProfessorsA limited number of students are invited to attend the conference for a discounted rate of $329, which includes special activities, unique networking opportunities and attendance at all of the main conference sessions. Free AICPA student affiliate membership is required.

Professors are invited to attend at 40% off the AICPA member price.

Email [email protected] for more details about student or professor discount offers.

Specialized SeminarsRegardless of your career stage, enhance your knowledge by taking part in an in-depth seminar before the PFP conference. It’s a great way to join the PFP community and take your PFP business to a higher level.

Jan.17–18Implementing Personal Financial Planning Services: Plans for Success

Boost your knowledge of the fundamentals and learn how to build a successful PFP practice, create new revenue streams, deepen client relationships and increase client retention. With this seminar, you’ll gain expert guidance for expanding your opportunities in PFP services.

Two-Day Seminar (14.5 CPE Credits)

AICPA member $695 PFP/PFS member $595Nonmember $995

Jan.18Tax-Efficient Investing

Many of the ways advisers optimize for after-tax returns under the new tax regime are explained in this seminar on tax-efficient investing. Topics of discussion include: IRA and Roth IRA strategies, capital gain/loss and bond income strategies, dividend income strategies, strategies for charitable planning and much more.

Seminar (9 CPE Credits)

AICPA member $445PFP/PFS member $345Nonmember $745

Expand Your PFP Experience

Bundle and SaveAdd the Advanced PFP Conference for Just $695 More.

Thank You to Our Sponsors and Partners!AICPA Alliance AICPA is proud to engage in an alliance with CPA Canada and the CFA Institute, as well as the Investment Management Consultants Association (IMCA), co-sponsor of the Investment Management Track.

Keynote

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Who Should Attend

Financial planning professionals, including CPAs, AICPA Personal Financial Planning (PFP) Section members and PFS™ credential holders

CFP® certificants

CFA charter holders

Tax and estate planning attorneys

Insurance and risk management professionals

Investment advisers

Certified Investment Management Analysts (CIMA )

Other professionals providing individuals with investment, retirement and tax planning services

2015 Planning CommitteeChairScott Sprinkle, CPA/PFS, CFPPartner, Sprinkle & Associates LLC, Sprinkle Financial Consultants LLC, Littleton, CO

Committee MembersClark M. Blackman II, CPA/PFS, CGMA, CFA, CFP, CIMA, AIF, M.A.President & CEO, Alpha Wealth Strategies LLC, Kingwood, TX

Ryan Franklin, CPA/PFS, CFPSenior Financial Advisor, Moss Adams Wealth Advisors, Yakima, WA

J. Laurie Glans, CA, CFA, CFPVice President & Investment Counsellor, RBC Global Asset Management Inc., Calgary, Alberta

Michael E. Goodman, CPA/PFS, CFPPresident, Wealthstream Advisors Inc., New York, NY

Meloni Hallock, CPA/PFS, CIMA, MBACEO, Acacia Wealth Advisors LLC, Beverly Hills, CA

Elizabeth (Libby) Hamel, CIMAVice President, J.P. Morgan Asset Management, New York, NY

Sarah H.B. Kahl, Esq.Venable LLP, Baltimore, MD

Michael Kitces, MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, CASLPublisher, The Kitces Report; Partner, Director of Research, Pinnacle Advisory Group, Columbia, MD

Marc Minker, CPA/PFSManaging Director & Practice Leader, Private Client Services, CBIZ MHM LLC, New York, NY

Theodore (Ted) Sarenski, CPA/PFS, CFP, AEP, President/CEO, Blue Ocean Strategic Capital LLC, Syracuse, NY

Thomas J. Trainor, CPA, CA, CFA, CFP, CLU, MBA, Managing Director, Hanover Private Client Corporation, Toronto, Ontario

AICPA – Durham, NCStacy Campbell, Conference Manager, AICPA Conferences

Sandra C. McMahon, M.A., Manager — Program Development, AICPA Conferences

Andrea Millar, CPA/PFS, Associate Director — Personal Financial Planning

Sessions You Can’t Miss

Safe Withdrawal Rates in Retirement and How Do Annuities Fit in the Equation?

Life Insurance Diagnostics: Advanced Insurance Analysis

Sophisticated Estate Planning for Mass Affluent and High-Net-Worth Clients

Tax-Efficient Investing

Affordable Care Act and Medicare

Increasing Effectiveness in Communicating With Clients

Primer on Benchmarks

Expert Panel: Recent Developments and Best Planning Ideas

Attend On-Site or Online

You can attend on-site or online from your home or office! Conference sessions will be streamed live, in real time, direct to your PC. Visit pfp.cpa2biz.com for more information and to register.

PLUS! Group-rate discounts offer maximum savings for firms with multiple registrants.


2 Tax/PFP Section Members and PFS™ Credential Holders Save an Additional $100Early Bird Discount Save $75 • Expires 12/5/142 pfp.cpa2biz.com • 888.777.7077 • #AICPApfp

Pre-conference Events

Guide to the Sessions

Sunday January 181:00–4:00pm Concurrent Workshops (Additional Fee; Select One)

101. Referrals Beyond Your Dreams MKT Randy Thurman, CPA/PFS, CFP, President, Retirement Investment Advisors Inc., Oklahoma City, OK Jimmy J. Williams, CPA/PFS, CFP, MTAX, Wealth Manager, Compass Capital Management LLC, McAlester, OK Learn how to obtain referrals of “right-fit” clients. Do you wish to consistently

receive referrals to grow your wealth management business? This workshop will teach you efficient and effective strategies of marketing through the use of referrals. The two authors/presenters continue to utilize the methods and strategies taught in this session to reach exponential growth in their firms. You will leave this session armed with tools to:

• Properly communicate your “right-fit” client characteristics to your “raving fans”

• Tailor and deliver a script for empowering your clients and COIs to refer others to you

• Receive referrals from passion prospecting and public speaking • Use a step-by-step process for seeking and receiving public speaking

engagements that will boost your market credibility and strengthen your referrals

• Incorporate a tracking system to measure the effectiveness of your referral sources and methods of improving the number of referred clients

102. Succession Planning for Wealth Managers and CPAs SKA

Jason Carroll, Live Oak Bank, Wilmington, NC David G. DeVoe, MBA, Managing Partner, DeVoe & Company, San Francisco, CA Christine E. Gaze, CIMA, President, Purpose Consulting Group, New York, NY Succession veterans to be announced Succession planning is potentially the single-most important business decision

you will make in your career. Come join a group of experts who will help you plan for this critical transition at the AICPA’s half-day workshop on succession planning. We will cover everything from the strategic and personal context for the decision, to the technical elements of valuation and financing, as well as the human side of the equation, such as your clients and employees. The event will be tailored specifically to CPAs/RIAs and some of the unique challenges related to these businesses. It will include:

• Welcome and Industry Trends: David DeVoe • Strategic Context and Assessing Your Options: David DeVoe • Human Capital, Change Management and Emotions: Christine Gaze • Valuation and Deal Structure: David DeVoe • Financing Options: Jason Carroll • Fireside Chat With Succession Veterans

Fields of StudyAP Administrative Practice

BMO Business Management and Organization

CS Computer Science

C Communications

E Economics

F Finance

MKT Marketing

P/HR Personnel/HR

SKA Specialized Knowledge and Applications

T Tax

J Sessions Designated as Part of the Emerging Leaders Learning Path


3Tax/PFP Section Members and PFS™ Credential Holders Save an Additional $100Early Bird Discount Save $75 • Expires 12/5/14 3pfp.cpa2biz.com • 888.777.7077 • #AICPApfp

Main Conference AgendaMonday January 19

4:00–4:50pm Sponsor Solutions Sessions (Complimentary; Select One)

S1. –S4. To Be Announced

5:00–6:00pm Networking Session (Complimentary)

Fireside Chat Discuss hot topics with speakers and your peers and gain insights into the

conference ahead.

8:10–9:25am General Session

Emerging Leaders Learning Path

1. From Recovery to Expansion: A Guide to the Markets E

David Kelly, Ph.D., Chief Global Strategist and Head of the Global Market Insights Strategy Team, J.P. Morgan Funds, New York, NY David Kelly will address key updates: The short-term and long-term outlook

for the U.S. economy. Why we maintain a cautious overweight towards U.S. equities. Why, despite interest rate declines in 2014 we still think rates are likely to rise slowly. The importance of international investing for long-term investors with a particular focus on Europe and emerging markets.



2. The Gen-Savvy Financial Advisor SKA

Cam Marston, President, Generational Insights, Mobile, AL This session will focus on attitudinal and behavioral differences among today’s

multiple generations of investors regarding their recognition and definition of experts, preferred communication methods and frequency, risk and reward, customization and personalization, the relevance of external influences, and adviser selection. Presentation will include historical trends, future predictions and granular tactics for advisers. The presenter is a columnist for InvestmentNews and CNBC Digital, and has authored The Gen-Savvy Investment Advisor.

10:45–11:15am Networking Break — Refreshments and Demos in Exhibit Hall

11:15am–12:05pm Concurrent Sessions (Select One)

3. Life Insurance Diagnostics: Advanced Insurance Analysis SKA

Susan J. Bruno, CPA/PFS, CFP, CIC, Managing Director, Beacon Wealth Consulting LLC, Stamford, CT Your clients own it or are about to buy it, and they rely on you as their holistic

financial planner to understand how life insurance fits (or does not) in their overall financial plan. Learn how to guide your clients through the purchase process and analyze your clients’ existing policies. Practical tools and resources, useful especially to CPAs who do not specialize in life insurance, will be presented, along with a case study (outlined in the June 2014 Tax Adviser). The case study will demonstrate the urgency for CPA financial planners to understand how to help clients analyze their “underperforming” policies to help save or even make money.

Sunday January 18 continued

Conference Agenda



Monday January 19 continued

4. Venn Diagrams and the Knights Who Say NIIT: The Intersection of T Estate, Income and Net Investment Income Tax

Paul S. Lee, J.D., LL.M., National Managing Director, Bernstein Global Wealth Management, New York, NY Post-ATRA planning will increasingly focus on income tax planning, the

management of tax basis and maximizing the “step up” in basis at death. This presentation will discuss:

• Measuring the transfer tax costs against the income tax savings from the “step up” on different types of assets

• Recapturing assets that have already been transferred • Using trust and partnership elections, distributions and reorganizations to

maximize the “step up” and “split” income across taxpayers • Using debt to reduce estate tax exposure but maximize the “step up” • Planning around the 3.8% net investment income tax

5. Portfolio Construction and Rebalancing: A 30-Year Time-Tested Approach AP

Mark J. Smith, CPA/PFS, CFP, CIMA, Financial Advisor, M.J. Smith and Associates, Greenwood Village, CO This session will serve as an overview of how our firm builds portfolios

specifically around its clients’ long-term goals and retirement needs. It will examine a detailed case study analyzing the importance of controlling risk, as compared to seeking higher returns. Finally a detailed discussion of rebalancing approaches will be reviewed, and we will share our firm’s approach.

6. Tax-Preferenced Retirement Savings Strategies for High-Income T

Individuals Robert Keebler, CPA/PFS, CGMA, MST, AEP (Distinguished), Partner, Keebler & Associates LLP, Green Bay, WI As income tax rates have increased over the last couple of years, along with

the application of the new 0.9% and 3.8% Medicare surtaxes, high-income individuals need now more than ever to find ways to reduce their incomes during high-income years. With careful tax planning, high-income individuals can save as much as $0.434 for every $1 deferred. We will cover the following topics:

• Defined contribution plan opportunities • Defined benefit plan opportunities • Non-qualified deferred compensation (NQDC) opportunities • Other income-reducing strategies (such as oil and gas investments)


7. Attracting and Retaining a New Generation of Employees P/HR

Cam Marston, President, Generational Insights, Mobile, AL Odds are, you are pitching your firm or your practice the same way you’d like

it pitched to you — using descriptions and words that resonate with you. The images you’re selecting for your web page and other collateral materials reflect how you think of your firm and what you want others to think of it, too. And while this is all normal, it’s not the best way to recruit. You’ve likely unwittingly biased your efforts with your “generational lens.” In this session, we’ll discuss the trends in recruiting today — what to say, how to say it and what images you’ll want to display in the process. We’ll discuss how to introduce people to your firm and discuss their roles in your firm. You’ll learn how ”adultolescence” is impacting your firm.

12:05–1:35pm Networking Lunch — Dessert and Demos in Exhibit Hall



Conference Agenda

1:35–2:50pm Concurrent Sessions (Select One)

8. Lineage Matters: Firm Stewardship and Returns Go Hand in Hand SKA

Bridget B. Hughes, CFA, Associate Director, Morningstar Inc., Chicago, IL Choosing the right investment doesn’t always boil down to stocks and bonds.

Which firms investors partner with also makes a difference, and requires trust and patience. In this session, Bridget Hughes will discuss firm-level data points investors can use to make judgments about investment firms that participate in the U.S. mutual fund industry. She will also cover Morningstar’s most recent annual study on the industry, where it found that these stewardship measures go hand-in-hand with superior results.

9. Generating Tax Alpha With Effective Asset Location T

Michael Kitces, MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, CASL, Partner, Director of Research, Publisher, Pinnacle Advisory Group, Kitces.com, Columbia, MD Asset allocation — where assets are invested among a diversified range of

investment securities and asset classes — is a staple of portfolio design. The reality, however, when investing for individuals is that a decision must be made not only about how to allocate assets but also about where to locate those assets — in other words, which investments or asset classes will be held in taxable investment accounts, which will be held in tax-deferred retirement plans and which will be held in tax-free accounts. Without changing the underlying allocation, effective asset location decisions create the opportunity to maximize tax efficiency and allow for better compounding growth, creating a form of “free” tax alpha that can enhance long-term returns without any increase in the risk of the investments themselves.

10. Looking Back, Looking Forward SKA

Roger C. Gibson, CFA, Chief Investment Officer, Gibson Capital LLC, Wexford, PA Christopher J. Sidoni, CFA, CFP, Director of Investment Research, Gibson Capital LLC, Wexford, PA Two partners, one near the beginning of his career, the other toward the end

of his career, will talk about successes and failures, lessons learned and the challenges ahead for themselves, their clients and the advisory profession.

11. Longevity Risk: Investment and Insurance Decisions SKA

Don Ezra, Fellow of the (UK) Institute and Faculty of Actuaries, Principal, Don Ezra Consulting Services LLC, Toronto, Ontario Medical advances have greatly increased life expectancy. Advisers and

planners need to understand the options available for clients to generate and protect their income streams and assets throughout a long life. A recent retiree explains his own goals, choices, analyses and decisions, showing the impact his career as a pension fund consultant has had on his thinking. Discover how longevity risk compares with investment risk, where long-term care fits into the equation, and how to incorporate the typical yet potentially contradictory goals of safety, growth and longevity protection in a retirement portfolio.


12. Increasing Effectiveness in Communicating With Clients C

Harold Evensky, CFP, Chairman, Evensky & Katz/Foldes Financial, Coral Gables, FL This session will present a process to help wealth managers enhance proactive

and interactive client communication, focusing on the “what” and “who,” as well as the “how” of this important aspect of their practices. It will focus on what messages you want to convey, whom you want to convey your message to and how you are going to convey your message. The session is intended to improve a firm’s client communication strategy.





13. So You Want to Be a Trustee? SKA

Daniel S. Rubin, J.D., LL.M., Partner, Moses & Singer LLP, New York, NY It is an honor when clients ask you to be a trustee of their trusts. The request

conveys a level of trust in your integrity and ability as a financial and family adviser. It also conveys a belief by your client that you are the person best able to manage a fund for the benefit of his or her loved ones. And, being a trustee can be lucrative, since trustees are generally compensated based upon the size of the trust fund. But accepting a trusteeship also conveys substantial duties as well as risks that may or may not be immediately apparent to the adviser, which can sometimes far outweigh any potential reward. A proper understanding of the role of trustee, therefore, and best practices for managing trustee duties, are vital before one can intelligently say that one does, indeed, want to be a trustee.

14. Management of Financial Affairs for U.S. Citizens: International T Tax Issues Steven R. Flynn, CPA Canada, Partner, W.L. Dueck & Co. LLP, Richmond, British Columbia Daren A. Raoux, CPA Canada, Principal, W.L. Dueck and Co. LLP, Calgary, Alberta This session will review the U.S. international income tax issues that apply to

U.S. citizens who invest in non-U.S. entities and to U.S. citizens who reside outside the United States. The session will cover areas such as Passive Foreign Investment Company rules, Controlled Foreign Corporation and Subpart F rules, IRS international tax reporting requirements and methods to assist U.S. citizens with delinquent U.S. tax returns, as well as forms to bring their filings up to date with the IRS. Recent changes to the IRS streamlined procedures, Foreign Account Tax Compliance Act, Foreign Bank and Financial Account disclosures and other U.S. international tax laws will be presented.


15. Smart Beta in the Factor Zoo F Jason Hsu, Ph.D., Co-Founder & Vice Chairman, Research Affiliates, Newport Beach, CA Smart beta and factor investing have become hot topics in the world of

institutional investing. Jason Hsu will define and demystify these terms and explain the key points to keep in mind when evaluating rules-based alternatives to traditional active management and market capitalization weighted passive indexing. Learn:

• The goal of investment strategies focusing on value, momentum, quality, size and low volatility factors

• The similarities and differences between the various smart beta strategies currently available

• How to go about selecting one of these rules-based strategies based on client needs


16. Blood and Money: Why Families Fight Over Inheritance and SKA What to Do About It P. Mark Accettura, Esq., J.D., LL.M. (Taxation), Author, Attorney, Accettura & Hurwitz, Farmington Hills, MI Elder law attorney and award-winning author P. Mark Accettura will explain the

psychology behind why people fight over estates and provide a comprehensive list of steps that will makers, heirs and their advisers can take to prevent family-splitting inheritance disputes. Accettura will also discuss the overlapping phenomena of dysfunctional families, dementia, elder abuse, testamentary capacity, undue influence and probate litigation. Learn to identify elder abuse and inchoate inheritance disputes.



Conference Agenda

17. Practice Valuation SKA

David G. DeVoe, MBA, Managing Partner, DeVoe & Company, San Francisco, CA Understanding your firm’s valuation is one of the most important, but least

understood, aspects of running an RIA. This importance and confusion is compounded by your affiliation with a CPA firm. RIA M&A veteran David DeVoe will help you learn how to value your business today and increase its value tomorrow. There are unique aspects and implications of managing an RIA that is affiliated with a CPA. DeVoe’s experience working with many of the industry’s largest CPA/wealth management businesses over the last decade will provide an interactive dialogue about the challenges and opportunities related to this relationship, constructs on how to better share profits/equity with the CPA entity and when it might make sense to separate.

4:15–4:45pm Networking Break — Refreshments and Demos in Exhibit Hall


18. What’s Up With Prenups: An Overview SKA

Arlene G. Dubin, J.D., Partner, Chair, Matrimonial and Family Law Practice, Moses & Singer LLP, New York, NY Prenuptial agreements have proliferated in recent years. This session will

explain why. In addition, this session will debunk the myths surrounding prenups, explain the basic legal requirements for enforceability and address practical questions such as how to pop the “P” word. Learn what topics can and cannot be included in a prenuptial agreement and survey typical clauses such as “sunset,” “escalator” and “bad boy/bad girl” provisions. Special issues relating to same-sex prenups will be addressed as well as agreements that are cousins to prenuptial agreements — postnuptial and cohabitation agreements. Review recent trends, such as the role of prenups in preserving portability, protecting embryos and covering social media in confidentiality clauses.

19. Sophisticated Estate Planning for High-Wealth Clients T

Diana S.C. Zeydel, J.D., LL.M., National Chair, Trusts & Estates Department, Greenberg Traurig P.A., Miami, FL This session will discuss the risks and benefits of various cutting-edge estate

planning techniques used to transfer wealth at a reduced transfer tax cost. The latest variations on the installment sale to a grantor trust, leveraged GRATs, testamentary CLATs, Split Purchase Trust and the Supercharged Credit Shelter Trust will be analyzed. The cutting edge is not for the faint of heart.

• Understand how best to assist clients in determining the right approach • Understand how the most sophisticated techniques work legally • Maximize benefits and minimize risks of using proactive strategies • Examine financial benefits and probability of success of various techniques

20. Generating Income and Managing Risk in a Low Yield Environment SKA

Paul W. Reisz, CFA, Executive Vice President, PIMCO, Newport Beach, CA In this new era for income investing, where defending capital is as important

as capturing yield, Paul Reisz reviews how individuals and advisers can take a prudent approach that pursues high, sustainable distributions with limited volatility. He will review how diversifying sources of income, taking a rigorous approach to risk management and employing vast analytical capabilities and sector expertise will assist you in meeting your clients’ income goals. Reisz will also provide insight as to how advisers might invest and react under varying Federal Reserve policies and interest rate scenarios.




21. Advising Clients Through the Toughest Times of Life (Powered by IMCA; Co-sponsored by Alex Cudzewicz) C

Amy Florian, MPS, FT, CEO, Corgenius, Hoffman Estates, IL When clients cope with death, divorce, retirement, empty nest or other life

transitions, your in-office actions determine whether they stay with you. Yet were you ever taught what to do and say in these difficult times? Get practical, immediately applicable and field-tested strategies from a pro. Understand the unique issues your clients face, the best ways to talk with them and how to handle their emotions. Gain skills to deal with irrational fears, bring humor into meetings and help clients make wise decisions in the midst of loss. Learn how to do the right thing for your client. In the process, gain lifetime loyalty, the next generation and a ton of referrals.


22. Creating a Mobile Office BMO CS

David S. Oransky, CPA/PFS, CFP, Principal, Laminar Wealth, Chicago, IL In today’s world, clients want instant access to information and quick responses

from you; employees want modern technology and more flexibility; and firm owners want more freedom and lower costs. Structuring your practice to be mobile can accomplish all of these and more. In this session, you will learn the practice management tips and technology tools that make it all possible. Advisers who have already embraced a mobile office are reaching ideal clients beyond their geographic region, taking extended time away from the office without skipping a beat and serving clients better than ever.

6:30–8:00am Continental Breakfast

7:00–7:50am Concurrent Breakfast Sessions (Select One)

201. Long-Term-Care Insurance: Dramatic Market Changes SKA

Nancy Simm, CLTC, LTCP, CSA, Sales Vice President, Highland Capital Brokerage, Farmington, CT This session will present an update on the ever-changing long-term-care

insurance market. We will be reviewing the various options and tax advantages of traditional LTCi products, as well as the many newer variations of life/LTC hybrid plans in the marketplace. We will also be looking at how gender can influence not only product pricing but also the purchase decision. Gain an understanding of the various commonalities and differences in products available in today’s marketplace to help clients with their long-term-care needs.

202. Top 10 Tax Stories of 2014 That Could Impact Your Clients T

Jonathan Horn, CPA, CGMA, Owner, Jonathan Horn CPA, New York, NY Join us for a fast-paced review of the key federal tax developments of the past

year. We’ll cover the activities of Congress, the IRS, tax court, the Supreme Court and more. You’ll learn which new laws, regulations and court decisions will have a direct impact on your practice as well as your clients’ tax and financial planning needs. Find out what actions you need to take now to adapt to the changing legislative and regulatory landscape and what resources are available to help you in that process.

Tuesday January 20



203. What’s a Bond Investor to Do? Evolving Your Fixed-Income Portfolio F

Priscilla C. Hancock, Managing Director, J.P. Morgan Asset Management, New York, NY Investing in bonds has become increasingly challenging over the last year. As

we look to the future, what’s the role of fixed income in a diversified portfolio? Is it time to move to equities? Or cash? Or just move everything short? How can an investor protect their portfolio from the uncertainties of interest rates and inflation? Where are the opportunities for return and/or income? And what about specific asset classes? Are emerging markets dead? Are there any opportunities left in high yield? What about bank loans? And what’s going on with municipal bonds?


204. Predictors of Life Satisfaction in Retirement SKA

Michael Finke, Professor, Director, Retirement Planning and Living, Personal Financial Planning, Texas Tech University, Lubbock, TX Retirement planning isn’t just building a big enough nest egg; it involves

thinking about when we retire, what we do in retirement, where we live, how often we interact with others and how we negotiate the best retirement strategy for a couple. This presentation discusses new research using the largest data set of retirees collected. We will follow the retirement path and discuss what predicts retirement satisfaction as we age. The surprising results will give advisers the knowledge they need to help clients plan a satisfying retirement. Although we do find that money matters, planning for a lifestyle can be equally important in order to get the most of retirement.


205. What You Don’t Know Could Hurt You: SEC Exams and Hot Topics SKA in Compliance

Ellen M. Bruno, CPA/PFS, CGMA, President, Compliance Advisor Professionals LLC, Berkley, MA Investment adviser compliance is today’s monkey on your back — and what

you don’t know could hurt you! This session will address current hot topics in compliance, including cybersecurity, social media, custody, due diligence, annual compliance program reviews and current trends in regulatory examinations.

8:00–8:10am Welcome and Chair Remarks



23. Professional Issues Update AP

Barry Melancon, CPA, CGMA, President & CEO, AICPA, New York, NY AICPA’s CEO will provide an overview of the forces driving change for the CPA

profession today and in the future, as well as key AICPA personal financial planning initiatives.

9:10–9:20am PFP Distinguished Service Awards

Conference Agenda

I don't know of any other conference that offers this depth of planning expertise, or is this rich in complex planning techniques.

— Bob Veres, Inside Information


10 11Tax/PFP Section Members and PFS™ Credential Holders Save an Additional $100Early Bird Discount Save $75 • Expires 12/5/1410 11pfp.cpa2biz.com • 888.777.7077 • #AICPApfp

At-A-Glance Agenda2015 Advanced Personal Financial Planning Conference • Las Vegas, NV

Topics and speakers are subject to change. Visit the website for the most up-to-date agenda.

Tracks Insurance/Risk Management Wealth Management/Tax Investment Management Retirement Planning Practice Management/Technology

Pre-Conference Workshops – Sunday, January 18

1:00–4:00pm Select One 101. Referrals Beyond Your Dreams (Additional Fee) 102. Succession Planning for Wealth Managers and CPAs (Additional Fee)

4:00–4:50pm Select One S1. Solution Session - TBD S2. Solution Session - TBD S3. Solution Session - TBD S4. Solution Session - TBD

5:00–6:00pm Networking Session — Fireside Chat

Main Conference – Day 1 – Monday, January 19

8:00–8:10am Welcome and Introductory Remarks

8:10–9:25am 1. From Recovery to Expansion: A Guide to the Markets

9:30–10:45am 2. The Gen-Savvy Financial Advisor

10:45–11:15am Networking Break — Refreshments & Demos in Exhibit Hall

11:15am–12:05pm Select One 3. Life Insurance Diagnostics: Advanced Insurance Analysis

4. Venn Diagrams & The Knights Who Say NIIT: The Intersection of Estate, Income & Net Investment Income Tax

5. Portfolio Construction and Rebalancing: A 30-Year Time-Tested Approach

6. Tax-Preferenced Retirement Savings Strategies for High-Income Individuals

7. Attracting and Retaining a New Generation of Employees

12:05–1:35pm Networking Lunch — Dessert & Demos in Exhibit Hall

1:35–2:50pm Select One 8. Lineage Matters: Firm Stewardship and Returns Go Hand in Hand

9. Generating Tax Alpha With Effective Asset Location 10. Looking Back, Looking Forward 11. Longevity Risk: Investment and

Insurance Decisions12. Increasing Effectiveness in

Communicating With Clients

3:00–4:15pm Select One 13. So You Want to Be a Trustee? 14. Management of Financial Affairs for U.S. Citizens: International Tax Issues 15. Smart Beta in the Factor Zoo

16. Blood and Money: Why Families Fight Over Inheritance and What to Do About It

17. Practice Valuation

4:15–4:45pm Networking Break — Refreshments & Demos in Exhibit Hall

4:45–6:00pm Select One 18. What’s Up With Prenups: An Overview 19. Sophisticated Estate Planning for High-Wealth Clients

20. Generating Income and Managing Risk in a Low Yield Environment

21. Advising Clients Through the Toughest Times of Life (Powered by IMCA) 22. Creating a Mobile Office

6:00–7:00pm Networking Reception

Main Conference – Day 2 – Tuesday, January 20

7:00–7:50am Select One 201. Long-Term-Care Insurance: Dramatic Market Changes

202. Top 10 Tax Stories of 2014 That Could Impact Your Clients

203. What’s a Bond Investor to Do? Evolving Your Fixed Income Portfolio

204. Predictors of Life Satisfaction in Retirement

205. What You Don’t Know Could Hurt You: SEC Exams and Hot Topics in Compliance

8:00–8:10am Welcome and Chair Remarks

8:10–9:10am 23. Professional Issues Update

9:10–9:20am PFP Distinguished Service Awards

9:20–10:35am 24. Moving From ROI to ROL


11:05am–12:20pm Select One 25. Building Trust Online 26. NING/DING Trusts : Using Trust to Minimize State Income Taxes

27. Tax-Efficient Investing: How to Increase After-Tax Rates of Returns 28. Estimating the True Cost of Retirement 29. Models of Financial Adviser Regulation

12:20–1:50pm Networking Lunch — Dessert & Demos in Exhibit Hall

1:50–3:05pm Select One 30. Life Settlements on Life Insurance Policies

31. Helping Family Businesses Grow and Maintain Wealth

32. Why Alternatives Are Not a Realistic Alternative for Most Private Taxable Investors (CFAI)

33. Optimizing Income and Reducing Volatility in Retirement Using Annuities

34. Best Practices for Implementing New Technology

3:15–4:30pm Select One 35. Defend Against Hacking, Phishing and Spoofing Attacks

36. Refresher on the NIIT & Planning Around 3.8% Medicare Tax

37. Not All Indexes Are Created Equally (Powered by IMCA)

38. Safe Withdrawal Rates in Retirement & How Do Annuities Fit in the Equation?

39. Protecting Your Firm and Your Practice With the AICPA PFP Standards: Practical Applications and FAQs

4:30–5:00pm Networking Break — Refreshments & Demos in Exhibit Hall

5:00–6:15pm 40. Recent Developments and Best Planning Ideas Panel

Main Conference – Day 3 – Wednesday, January 21

7:00–7:50am Select One 301. Property & Casual Insurance 302. Advanced Due Diligence Structures and Trends With ETFs

303. Continuing Care Retirement Communities (CCRCs)

304. Creating Effective Compensation Plans

8:00–9:15am 41. Economic Reality, Myths and Fallacies


9:35–10:50am Select One 42. Private Placement Life Insurance 43. Charitable Planning to Grow Your Practice 44. Advanced Screening: Investment Manager Evaluations

45. Navigating Medicare and the Affordable Care Act

46. Put an Exponent on New Business Development

11:00am–12:15pm Select One 47. Been There, Done That: A Trail Guide to Planning With the Affluent

48. The Narrative Imperative (Sponsored by BAM)

49. New Developments in Social Security Planning

50. Simulating Retirement: Integrating Human Beings Into the Process





24. Moving From ROI to ROL SKA

Mitch Anthony, President, Advisor Insights Inc., Rochester, MN Moving from ROI to ROL (Return on Life) is based on Mitch Anthony’s Return

on Life™ model and addresses the two major dilemmas experienced by many top advisers: (1) differentiation in a “me too” marketplace; and (2) compensation. The existing value propositions of providing financial planning and asset management are all undergoing rapid commoditization. It is becoming increasingly difficult for advisers to distinguish themselves in a crowded marketplace. The one value proposition that transcends becoming a commodity is the one that enables advisers to sell their wisdom, experience and insights. The hallmark of this new way of thinking is the unique manner in which success is measured — Return on Life™.




25. Building Trust Online BMO

Steve Biermann, Co-Founder, Building Trust Online Inc., Papillion, NE The business of financial services has always been built on trust. Historically,

financial professionals primarily built trust with a firm handshake and a face-to-face meeting. But today, technology is altering the way professionals earn the trust of others. Clients and prospects are now turning to online resources to find professionals with whom they can relate, who effectively communicate empathy and can help address their unique needs, all before picking up the phone. It is more important than ever that businesses adapt to the new opportunities in marketing, service, client retention and more, all introduced by technology, in an effort to successfully build trust online.

26. NING/DING Trusts: Using Trust to Minimize State Income Taxes T

Steven J. Oshins, Esq., J.D., AEP (Distinguished), Attorney, Oshins & Associates, Las Vegas, NV Saving state income taxes has become one of the most important goals for

those of our clients who live in a state. Attendees will learn: • How a NING Trust works • How to create a non-grantor trust for income tax purposes that is not a

taxable gift for gift tax purposes • About the recent Private Letter Rulings approving the NING Trust technique • Why the trust must be set up in a self-settled asset protection trust

jurisdiction and why Nevada is the leading jurisdiction • How to explain this to clients in a plain-English style with a high state

income tax

27. Tax-Efficient Investing: How to Increase After-Tax Rates of Returns T

Paul Bouchey, Managing Director — Research, Parametric, Seattle, WA Asset management has traditionally been split into two arenas: active and

passive. Investors, however, are becoming increasingly interested in, and aware of, a third style of asset management called “smart beta,” which falls between these two extremes — including minimum-variance, equal-weighted and fundamentally weighted strategies, among others. For taxable investors, the additional turnover is of material concern, since these strategies are more likely to realize capital gains and incur relatively higher tax costs than the capitalization-weighted index.

Tuesday January 20 continued



Conference Agenda

28. Estimating the True Cost of Retirement SKA

David Blanchett, CPA, CFA, CFP, AIFA, Head of Retirement Research, Morningstar Investment Management, Chicago, IL Retirement is the most expensive purchase faced by most individuals. In this

session, David Blanchett will explore a framework to better understand how much retirement actually costs and a process for better estimating its true cost. This session will include a discussion of the implications of properly forecasting the growth of assets and important considerations when estimating the liability, such as determining the optimal replacement rate, forecasting the retirement period and understanding what it truly means to fail (or succeed) during retirement.

29. Models of Financial Adviser Regulation AP

Arthur B. Laby, J.D., Professor, Rutgers University School of Law, Camden, NJ This session will contrast models of financial adviser regulation in the United

States. Some financial advisers are registered representatives of broker-dealers and are regulated as brokers; their recommendations must be suitable for clients. Other financial advisers are affiliated with investment adviser firms and are held to a fiduciary standard. In practice, individuals providing similar functions are often regulated differently. The session will provide historical background to explain how this state of affairs came to be, and it will address the debate in Washington over whether to place a fiduciary duty on brokers who give advice to retail customers.

12:20–1:50pm Networking Lunch — Dessert and Demos in Exhibit Hall


30. Life Settlements on Life Insurance Policies SKA

Jon B. Mendelsohn, CEO, Ashar Group LLC, Orlando, FL This session will address: • Structure of the secondary market for life insurance • Target market — the ideal insured and types of policies that qualify • Industry players • Economic and demographic drivers • Regulatory landscape • Life settlement lifecycle • Pitfalls to avoid and the liability of not disclosing • Top trends and future of the market • A life settlement industry overview with case studies, as well as lessons in

using a secondary market valuation to determine the fair market value of life insurance in planning situations

31. Helping Family Businesses Grow and Maintain Wealth BMO

Steven H. Goodman, CPA, MBA, President, SHG Planning Inc., Melville, NY This session will address: • Specific Issues that are commonly found when dealing with business

succession planning o One family (One child in business/one or more out of the business) o One family (More than one child in the business) o Two equal shareholders (No children in the business) o Two equal shareholders (One family has a child in or both have children in

the business • Key provisions that should be included in a well drafted buy/sell agreement • Advantages/disadvantages of cross purchase/entity/trusteed or LLC buy/sell

agreements • Insight into the most commonly overlooked issues when dealing with

business succession planning, including issues relating to the legal documents, insurance planning and family harmony




32. Why Alternatives Are Not a Realistic Alternative for Most Private T Taxable Investors (CFAI)

Jeffrey E. Horvitz, Vice Chairman, Moreland Management Company, Beverly Farms, MA The overwhelming majority of private taxable investors simply cannot invest

in alternative assets classes the same as large institutional investors. This session will explain why exposure to the risk of alternative asset classes does not produce the asset class return due to fees and taxes. Access and diversification are nearly impossible for all but the wealthiest private investors. Sourcing, due diligence and monitoring are simply too expensive for all but the largest investment offices, but fund-of-funds are no answer. To surmount these problems requires consistent “top quartile” selection, but this Holy Grail is really the mythical unicorn. The alternative asset classes, e.g., private equity, venture capital, real estate and hedge funds, are simply not viable or suitable investments for all but a tiny number of individual investors.

33. Optimizing Income and Reducing Volatility in Retirement Using Annuities SKA Wade Pfau, CFA, Ph.D., Professor, The American College, Bryn Mawr, PA Individual investors are extremely vulnerable to the sequence of market returns

experienced over their investing lifetimes. They must also contend with longevity risk and declining cognitive abilities as they age. Sustainable withdrawal strategies have been popular with advisers, though the 4% rule of thumb may not be as safe as suggested by the U.S. historical record, especially as longevity continues to increase. An alternative is to fund essential spending needs using income annuities (single premium immediate annuities or deferred income annuities). The presentation explains the basic mechanics of how income annuities work and then describes a product allocation framework to demonstrate the value added by including income annuities in a retirement income strategy.


34. Best Practices for Implementing New Technology CS Moderator: Joel P. Bruckenstein, CFP, President, Technology Tools for Today (T3), Miramar, FL Panel of Advisers: Michael E. Goodman, CPA/PFS, CFP, President, Wealthstream Advisors Inc., New York, NY David S. Oransky, CPA/PFS, CFP, Principal, Laminar Wealth, Chicago, IL Anthony L. Schembri, CPA, Managing Director, CLARFELD Wealth Strategists & Financial Confidantes™, Tarrytown, NY This panel discussion, moderated by technology expert Joel Bruckenstein,

will provide real-world examples from PFS member-practitioners on how they implemented new technologies and the benefits they derived from these enhancements. Receive advice on how to upgrade your technology. Examples for both large and small firms will be discussed. Whether you are a tech novice or expert, this session is for you. You will:

• Acquire a framework for performing due diligence on technology vendors • Learn how to prioritize technology upgrades • Gain a better understanding of what the latest technologies can do for you

and your business



35. Defend Against Hacking, Phishing and Spoofing Attacks CS

Bill Winterberg, CFP, Founder, FPPad.com, Atlanta, GA Online “hacktivists” are gaining worldwide notoriety for their hacking exploits.

While attacks on banks and financial institutions make headlines, unpublished attacks are directed at financial advisers every day, with some resulting in significant financial losses and also the loss of client trust. Take the necessary steps to decrease your vulnerability to external threats. Learn about tools and techniques that can help you minimize your firm’s and your clients’ chances of becoming a victim of a well-engineered attack.



36. Refresher on the NIIT and Planning Around 3.8% Medicare Tax T

Robert Keebler, CPA/PFS, CGMA, MST, AEP (Distinguished), Partner, Keebler & Associates LLP, Green Bay, WI David H. Kirk, CPA/PFS, J.D., LL.M., Executive Director, Private Client Services, EY, Washington, DC While the new Treasury regulations helped clarify some issues, there have been

far more questions than answers in dealing with the NIIT. During this session, we will cover some of the more difficult issues and the numerous questions raised regarding application of the NIIT, including the following:

• Taxation of trusts and estates • The material participation standard • Re-grouping • The real estate professional exception • The self-rental rule • State income tax deductions • Applying the Section 67 and Section 68 limitations • Loss deductions

37. Not All Indexes Are Created Equally (Powered by IMCA) F Anthony B. Davidow, CIMA, Vice President, Alternative Beta and Asset Allocation Strategist, Schwab Center for Financial Research, Charles Schwab & Co. Inc., New York, NY With the proliferation of index-based strategies and the blurring of the lines

between active and passive investment options, investors are having a tough time determining the most appropriate benchmark. This session will evaluate traditional market-cap indexes and the innovation of alternative beta strategies. Alternative beta strategies, also known as smart beta or strategic beta, have grown in popularity, and have been embraced by institutions and individual investors alike. Compare the historical results of traditional market-cap and alternative beta strategies, evaluate the various smart beta strategies — equal-weight, low volatility and fundamental index — and learn how to use smart beta strategies in conjunction with active and traditional market-cap strategies.

38. Safe Withdrawal Rates in Retirement and How Do Annuities Fit in the Equation? SKA Moderator: Bob Veres, Inside Information

Panel: David Blanchett, CPA, CFA, CFP, AIFA, Head of Retirement Research, Morningstar Investment Management, Chicago, IL Michael Finke, CFP, Ph.D., Professor, Director, Retirement Planning and Living, Personal Financial Planning, Texas Tech University, Lubbock, TX Michael Kitces, MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, CASL, Partner, Director of Research, Publisher, Pinnacle Advisory Group, Kitces.com, Columbia, MD Wade Pfau, CFA, Ph.D., Professor, The American College, Bryn Mawr, PA From a more dynamic spending approach, to criticism of the 4% rule, to

the ongoing evolution of annuity products, research into retirement income strategies continues to evolve. In this panel, hear some of the leading researchers of retirement income discuss their latest work, including how spending behavior changes in retirement, better techniques to adjust retirement recommendations based on current market conditions and the role that today’s annuity products should and shouldn’t play in the process.

Conference Agenda

As the most rapidly growing dedicated financial planning conference over the past five years, the AICPA Personal Financial Planning Conference has genuinely earned its place as the premier advanced technical content event for financial planners.

—Michael Kitces, MSFS, MTAX, CFP, CLU, ChFC “The 8 Best Conferences for Financial Advisors in 2015”




39. Protecting Your Firm and Your Practice With the AICPA PFP Standards: AP

Practical Applications and FAQs Clark M. Blackman II, CPA/PFS, CGMA, CFA, CFP, CIMA, AIF, M.A., President/ CEO, Alpha Wealth Strategies LLC, Kingwood, TX Dirk L. Edwards, CPA/PFS, CGMA, J.D., MBA, Edwards Consulting LLC, Lake Oswego, OR With the projected growth and increased demand for personal financial

planning, the AICPA issued the Statement on Standards in Personal Financial Planning Services (effective July 1, 2014), providing AICPA members with authoritative, enforceable guidance and a roadmap for delivering PFP services consistently and confidently to protect their clients and their practice. If you offer services in the areas of estate, retirement, risk management or investment planning, you will benefit from this framework to guide your work with clients. This session will provide an overview of the statement, insight on how to deal with common questions and practical applications for planners in all business models.

4:30–5:00pm Networking Break — Refreshments and Demos in Exhibit Hall

5:00–6:15pm General Session


40. Recent Developments and Best Planning Ideas Panel T

Moderator: Lyle K. Benson Jr., CPA/PFS, CFP, President, L.K. Benson & Company, Baltimore, MD Panel: Robert Keebler, CPA/PFS, CGMA, MST, AEP (Distinguished), Partner, Keebler & Associates LLP, Green Bay, WI Michael Kitces, MSFS, MTAX, CFP, CLU, ChFC, RHU, REBC, CASL, Partner, Director of Research, Publisher, Pinnacle Advisory Group, Kitces.com, Columbia, MD Daniel S. Rubin, J.D., LL.M., Partner, Moses & Singer LLP, New York, NY Theodore J. Sarenski, CPA/PFS, CFP, AEP, Blue Ocean Strategic Capital LLC, Syracuse, NY Join us for a panel discussion on the best planning ideas for 2015. New ideas

will be proposed and discussed by our top-rated speakers who are leaders in their respective fields. We will focus on ideas and strategies you can put into practice now for your clients in the areas of personal financial planning, income tax and estate planning, retirement, risk management and investment strategies.


Download the Conference App

It’s Free!Your guide to sessions, speakers,

exhibitors and more — available for download 2 weeks before and during the event



6:30–8:00am Continental Breakfast

7:00–7:50am Concurrent Breakfast Sessions (Select One)

301. Property and Casual Insurance SKA

Jim Fiske, Vice President & U.S. Marketing Manager, Chubb Personal Insurance, Chubb & Son Inc. In this session you will learn about property and casualty insurance trends for

high-net-worth families. Topics will include: • Mitigating the impact of extreme weather activity • Exposures and management of risks associated with domestic employees • Exposure as directors and officers on for-profit and not-for-profit boards • Use of trusts and LLCs for asset ownership • International exposures including travel risk, property ownership and

personal security • Acquisition and conservation of treasure assets as a component of portfolio

diversification, including collateralize leveraging techniques • Managing the family’s younger generation exposures

302. Advanced Due Diligence Structures and Trends With ETFs F Howard J. Atkinson, CFA, CIMA, ICD.D, Managing Director, Horizons ETFs Management (USA), Toronto, Ontario Exchange traded products (ETPs), which include ETFs, ETNs and other open-

ended exchange traded investment funds, have been the fastest growing financial product for the past two decades, experiencing compound annual growth rates exceeding 20%. ETP assets are close to $2 trillion in the United States and approaching $3 trillion globally and are widely used by both institutional and retail investors. ETPs are now available for most asset classes and investment objectives including passive, active and alternative strategies. The sheer number of products available now to investors almost creates paralysis by choice. How do you know you’re buying the right ETP?

303. Continuing Care Retirement Communities (CCRCs) SKA

Brad C. Breeding, CFP, President, LifeSite Logics, Raleigh, NC This session is designed to give financial advisers a better understanding of

continuing care retirement communities (CCRCs), an increasingly popular but often complex, retirement living alternative for older adults. As the older American population grows and CCRCs become more prevalent, seniors and their adult children will seek out the advice of a financial professional when contemplating this unique and important life decision. By developing a better understanding of CCRCs, advisers can add value, enhance customer loyalty and create competitive differentiation by making the decision process more efficient and effective for clients, while helping them understand the potential financial impact of various scenarios and alternatives.


304. Creating Effective Compensation Plans P/HR

Kelli Cruz, Founder & Managing Director, Cruz Consulting Group, San Francisco, CA Are you attracting and retaining the best employees? Competition for top

talent is heated. A firm with an effective compensation plan is better able to recruit and retain quality employees, engage them in making the firm successful and reward them for their contributions. During this interactive session, you will learn how to determine the correct compensation philosophy, find the right balance of base pay and incentives, develop an incentive plan that incorporates individual and firm performance goals and financially sustain your plan year over year.

Conference Agenda

Wednesday January 21





41. Economic Reality, Myths and Fallacies (Sponsored by 1st Global) E

Arthur B. Laffer, Ph.D., Founder & Chairman, Laffer Associates, Nashville, TN This discussion will focus on the many economic plans put forth by Democrats

and Republicans as prescriptions for increasing employment, improving the U.S. budget deficit and growing the economy. Laffer will also present a fascinating analysis of the fiscal health of the states and the vast differences in state fiscal policies and resulting variances in economic prosperity. Learn how politics may affect changes to policy in the future — specifically in reference to the impact of the November 2014 elections to policy changes in 2015.


9:35–10:50am Concurrent Sessions (Select One)

42. Private Placement Life Insurance SKA

John Lawson, CFP, CLU, ChFC, AALU, WaxmanCavnerLawson, Austin, TX Private Placement Life Insurance (PPLI) is a tool that practitioners can use

to address not only the estate planning needs of a client but also other tax planning needs. Many CPAs have varying degrees of uncertainty about how PPLI works, and in handling questions about it for their clients. Listen and ask questions as an experienced practitioner discusses how he manages these issues within his practice and with his clients. Learn key features of PPLI and how to apply to client situations, how others structure their practice to address PPLI and how to separate client planning from product evaluation discussions.

43. Charitable Planning to Grow Your Practice BMO

Jacqueline Valouch, VP, Charitable Planning Consultant, Fidelity Charitable, New York, NY Are you offering your clients the most favorable tax solutions? Don’t overlook

their charitable giving. One of the best ways advisers can enhance a client’s holistic financial plan is to help them identify the right assets to give to charity, the right time to give them and more importantly the right vehicle to facilitate their giving. Jacqueline Valouch will walk you through the current charitable landscape and trends, providing an overview of various giving vehicles and how to overcome the challenges of charitable planning to help you understand how you can help your philanthropic clients. Understand the current charitable landscape and charitable giving vehicles, review the current trends in charitable giving and learn to overcome the challenges of charitable planning.

44. Advanced Screening: Investment Manager Evaluations SKA

Morningstar speaker to be announced This session will review advance screening and search techniques to research,

review and monitor investment managers. The session will provide important variables and screening categories advisers can use to evaluate and select funds and fund managers. Although the session will use Morningstar Advisor Workstation, the emphasis of the session will be on techniques advisers may pursue to assist them in manager performance and selection. The session will also delve into how advisers may review and differentiate ETFs and index funds considering style drift, attribution variables and expenses. Finally, the session will analyze performance figures vs. risk — showing advisers how to determine if their managers are providing Alpha.

Wednesday January 21 continued



45. Navigating Medicare and the Affordable Care Act SKA

Maura L. Carley, MPH, CIC, President/CEO, Healthcare Navigation LLC, Shelton, CT Most Americans have group health care coverage provided as a benefit of

employment; few are knowledgeable about buying coverage on their own. Many life events, however, in the United States, such as job loss, relocation, dependents turning 26, divorce, retirement, retirement of a spouse and death of a spouse, can affect one’s coverage. With so many events that can disrupt coverage, Americans and their advisers must better understand the environment to help clients avoid financial risk. The Affordable Care Act is complex legislation that includes provisions being implemented over a 10-year period. Many changes and delays in implementing provisions have occurred, but 2014 included major market reforms. 2014 was a critical year because the 45 states that had allowed medical underwriting of individual insurance had to transition to guaranteed issue coverage.


46. Put an Exponent on New Business Development MKT

Christine E. Gaze, CIMA, President, Purpose Consulting Group, New York, NY Some 92% of consumers trust friends and family more than any other form of

advertising. When it comes to referrals, all clients are not created equal, as 10% of clients will likely be considered “influencers.” How can advisers make these statistics work for them? Gain insights on influencers, examine what spurs them into action and learn how you can unleash their power to tell your story with a passion that inspires new business. In this session, you will:

• Learn the defining characteristics and motivating factors for the powerful group of people called influencers

• Get tactical ideas for identifying, engaging and arming the influencers in your practice to create new business opportunities


47. Been There, Done That: A Trail Guide to Planning With the Affluent AP

Thomas N. Tillery, M.A.Ed., MSFS, CLU, ChFC, LUTCF, CRPC, CFP, Vice President, Paraklete Financial Inc., Kennesaw, GA Planning for the affluent has not changed all that much over the years. The

topography is basically the same with just a few washouts in places. This session will provide an overview of the personal financial planning process with specific application to the needs of the affluent. Based on the most recent data available, Tom Tillery will provide an overview of the affluent. Results of his research have a direct impact on the personal financial planning process. He will provide anecdotes from more than 30 years of planning for this demographic.

48. The Narrative Imperative (Sponsored by BAM) C

Tim Maurer, CFP, Director of Personal Finance and Wealth Advisor, The BAM Alliance, St. Louis, MO As a wealth adviser and director of personal finance for the BAM ALLIANCE,

Tim Maurer believes that when it comes to engaging clients, it’s often more about the personal than it is about finance. But transcending the gap between the wealth management services we provide and the meaningful relationship we strive to build can be difficult for some advisers. This interactive session will discuss how to define and refine your own narrative to drive results in interactions with clients and prospects. Maurer will also discuss how to leverage your unique story to become famous in your own community — building your personal brand with the general public, media outlets and other centers of influence.

Conference Agenda



49. New Developments in Social Security Planning SKA

Theodore J. Sarenski, CPA/PFS, AEP, President/CEO, Blue Ocean Strategic Capital LLC, Syracuse, NY Mainstream media and the baby boomers are making Social Security a topic

of discussion regularly. Learn how to wade through all the hype and give your clients the facts about what they can and cannot do with Social Security such as:

• Benefits based on a prior spouse’s work record • Suspension of benefits • Best use of file and suspend • Same-sex couple planning and much, much more


50. Simulating Retirement: Integrating Human Beings Into the Process SKA

James A. Shambo, CPA/PFS, President, Lifetime Planning Concepts Inc., Colorado Springs, CO Join James A. Shambo as he discusses simulating retirement from both sides:

savings and withdrawals. He will address key simulation issues, identify how advisers can integrate human beings into their simulation processes and provide a methodology to find the moving target of today’s safe withdrawal rate. Understand the rules, boundaries and limitations of drawdown research, examine recent research on “safe savings” rates, integrate consumption behavior into your meetings with clients with updated data on the Hedonic Pleasure Index and learn how to combine the most intriguing drawdown research to calculate a safe withdrawal rate in any market environment.

12:15pm Conference Adjourns

Wednesday January 21 continued

But you’re in a great position to help your clients solve it. In fact, end-of-year planning is the perfect time to offer strategic guidance and retirement solutions. The AICPA Personal Financial Planning Section has all the tools you need to have that conversation with confidence.

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Recommended CPE Credit Up to 23.5 Hours Main Conference, Up to 3.5 Hours WorkshopThis conference was prepared in accordance with the Joint AICPA/NASBA Statement on Standards for Continuing Professional Education (CPE) Programs, effective on July 1, 2012. The recommended CPE credits are in accordance with these standards; however, your individual state board is the final authority on the acceptance of programs for CPE credit.

Conference Fee On-site conference fee includes all sessions, access to conference materials, continental breakfasts, refreshment breaks, luncheons and reception.

Group Registration Registration for two or more individuals at the same time may qualify for group discounts; additional savings may be available for groups of 10 or more. For more information, please call AICPA Member Service at 888.777.7077 (9am–6pm ET). Program Code: PFP15

Cancellation Policy You may cancel without penalty if written cancellation requests are received by 12/5/14. Due to financial obligations incurred by the AICPA, a credit voucher less 50% of the registration fee will be issued for written requests received by 12/29/14. No refunds or credits will be issued on cancellation requests received on or after 12/30/14. For further information, call AICPA Member Service at 888.777.7077.

Hotel Information Contact the hotel directly to obtain their policy on reservations, deposits and cancellations. Rooms will be assigned on a space-available basis only. To receive our special group rates, mention that you will be attending the AICPA Advanced Personal Financial Planning Conference.

Bellagio3600 Las Vegas Blvd.Las Vegas, NV 89108Hotel: 702.693.7111Reservations: 888.987.8686Rate: $239 s/d (Jan. 16–17) $209 s/d (Jan. 18–21) + $10 resort fee Hotel Cutoff Date: Dec. 16, 2014NOTE: This conference is expected to sell out, so please make hotel arrangements as soon as possible.

Register Fast

Save $75Early Bird Discount for Full Conference and 9 SessionsExpires 12/5/14

Register Today

Advanced PFP ConferenceOn-Site Online

Tax/PFP/PFS

AICPA Member Nonmember

Full Conference With Early Bird Discount H H $920 $1,020 $1,320

Full Conference H H $995 $1,095 $1,395

Your Choice of 9 Sessions With Early Bird Discount H $595 $695 $995

Pre-conference Workshop 101 or 102 H $295

Specialized SeminarsOn-Site Online

Tax/PFP/PFS

AICPA Member Nonmember

Bundle and SaveAdd the Full Conference

for Just $695 More.

Implementing PFP Services H $595 $695 $995

Tax-Efficient Investing H $345 $445 $745


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