Most Clicked Financial Planning Digest Stories
1. Advisers doubt traditional portfolio allocation, survey says
Financial Planning Digest | May 22, 2012
Investment advisers are becoming increasingly doubtful about the performance of a portfolio divided along traditional 60% stock and 40% bond allocation, according to a study by Natixis. Slightly more than 20% of advisers favor the traditional approaches they currently use and would like to see new models of portfolio construction. AdvisorOne (05/15) Financial Advisor online (05/16) InvestmentNews (free registration) (05/16)
2. How to transition from tax preparer to financial planner
Financial Planning Digest | May 15, 2012
The end of tax season is a natural point for CPAs to think about their clients' other financial issues. Which clients are looking at their overall financial health and what can you, as their CPA, do to facilitate that? For many CPAs, a leap from tax preparer to financial preparer begins by asking such questions. For those who would like to make financial planning a permanent part of their practice, AICPA is offering a webinar series, From Tax Preparer to Financial Planner: The Road Best Traveled, detailing the pathway to transition from tax preparer to financial planner. See information about the two free webinars in this series in PFP News below. AICPA Insights (05/10)
3. Financial advisers say Medicare is a growth opportunity
Financial Planning Digest | May 08, 2012
Financial advisers might be able to boost their business significantly by helping affluent clients make the best possible use of Medicare benefits. Almost half of high-net-worth Americans nearing retirement said they are "terrified" of what health care costs could do to their plans for retirement, according to a survey by Nationwide Financial. The AICPA Personal Financial Planning Division's newest guide, The CPA's Guide to Financing Retirement Healthcare, is now available exclusively to PFP members and PFS credential holders. InvestmentNews (free registration) (05/07) AdvisorOne (05/07)
4. Social Security Administration rolls out online statements
Financial Planning Digest | May 08, 2012
The Social Security Administration has launched an online tool to allow U.S. workers to monitor their benefits. The online Social Security Statement replaces paper statements for most workers. The site allows visitors to view estimates of their retirement, disability and survivors benefits as well as their reported earnings. The AICPA's popular "CPA's Guide to Social Security Planning" -- updated with 2012 numbers -- is available free to PFP/PFS members and for sale to nonmembers. InvestmentNews (free registration) (05/03)
5. Financial tips for parents with college-bound students
Financial Planning Digest | May 01, 2012
Parental income can have a big effect on how much financial aid students may receive for college. Here is a list of dos and don'ts for parents whose children will go to college soon or in the future. For example, parents should begin saving as soon as possible and have their children apply for scholarships. They should not put assets in their children's names or expect that their children will receive full rides. Morningstar Advisor (04/27)
6. 10 steps to improve estate clients' post-mortem planning
Financial Planning Digest | May 01, 2012
Here are 10 steps CPAs should take to prepare a Form 1041, U.S. Income Tax Return for Estates and Trusts, after the death of an estate-planning client. Taking the right steps can minimize tax liabilities for the estate and its beneficiaries. They include choosing a fiscal year, electing to include trust income on the estate's income tax return and managing distributions to lessen tax exposure. Journal of Accountancy (05/2012)
7. AICPA debuts Total Tax Insights calculator
Financial Planning Digest | May 22, 2012
The AICPA has introduced an online tool called the Total Tax InsightsTM calculator. It provides a taxpayer with a complete breakdown of their estimated taxes, by federal, state and local obligation. The database powering the calculator includes taxes for 3,035 counties, the District of Columbia and Puerto Rico, as well as commonly used deductions. JournalofAccountancy.com (05/15)
8. 7 estate-planning mistakes your clients should avoid
Financial Planning Digest | May 01, 2012
Forbes (04/25)
9. Financial advisers must adapt to different types of retirement
Financial Planning Digest | May 29, 2012
Financial advisers need to understand that with the arrival of the Great Recession, retirement for Americans has splintered into many different combinations of work and leisure. In a recent survey of private-sector workers, almost 70% said they wouldn't be able to accumulate enough wealth to support a comfortable retirement, even if they work and save up to the age of 65. Financial-Planning.com (05/24) InvestmentNews (free registration) (05/27)
10. Advisers rethink ways to calculate retirement spending
Financial Planning Digest | May 08, 2012
Financial advisers are beginning to question assumptions about how retirees' spending needs will change over time. For some clients, expenses such as health-care will outpace the rate of inflation, while costs for food and other necessities may decline. Some advisers also take into consideration factors such as individual housing costs and personal spending habits in making spending forecasts. Financial Planning (05/2012)
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