The Statement on Standards in Personal Financial Planning Services becomes effective for all AICPA members on July 1. This article addresses what members need to know about the new standards, including who's covered and what's required. Areas covered include communication, disclosures and documentation; engagement planning; and working with and recommending other professionals. Read the standards and access the compliance toolkit [available free to PFP/PFS members and for purchase for nonmembers] at aicpa.org/SSPFPS.
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