Financial planning

There are several ways to serve your clients in the financial planning world. None are wrong or right—but some are definitely better than others.

The Financial Planning Coalition has called on Congress to support the Securities and Exchange Commission in establishing a fiduciary standard of care for broker-dealers.

The American Institute of CPAs’ Financial Reporting Executive Committee has published a working draft version of a revised practice aid for valuing equity securities issued as compensation for executives at private companies.

The American Institute of CPAs and the Society for Human Resource Management have introduced a new award for employers with successful financial education programs.

Estate planner Howard Zaritsky has written a new treatise, “Practical Estate Planning in 2011 and 2012,” describing how the 2010 Tax Relief Act affects estate planning strategies.

Warren, Averett, Kimbrough & Marino Wealth Management, an affiliate of CPA and business advisory firm Warren, Averett, Kimbrough & Marino, said it has surpassed the $500 million mark in assets under management.

A new personal budgeting app for the Apple iPad aims to help consumers manage their debts.

With the passage of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, many practitioners are now scrambling to determine how to best position their clients’ estate planning structures and forms to take advantage of the new dynamic estate tax planning opportunities and challenges.

IMGCAP(1)]Baby Boomers are now or soon will be part of the senior generation.

Tax season is in full bloom and Americans are up to their elbows in statements, receipts and 1099s, but it may be a good time for people to clean up their finances while they’re doing their spring cleaning and taking their taxes to their accountants.

U.S. workers are more pessimistic about their prospects for a comfortable retirement than at any time in the past two decades, according to a new survey.

The American Institute of CPAs has introduced a free checklist that accountants can download, personalize and use to update clients on how the recent tax cut extension legislation may affect their estate planning.

NetBasis is offering an online tool to help investors and brokers comply with the new cost basis reporting rules.

Financial services organization Harris has launched a new Web site to go along with its new financial education program, Helping Money Make Sense.

Corporate management and boards of directors should be prepared for questions from shareholders about turmoil in the Middle East, rising energy costs and new rules in the Dodd-Frank Act during their companies’ annual general meetings this year, according to BDO USA LLP.

Many taxpayers continue to be affected by the U.S. recession, especially if they were strapped for funds in 2010 and needed to borrow from their 401(k).

GAO: FINANCIAL PLANNERS ARE REGULATED ENOUGH

Investing globally has garnered a great deal of attention recently. It's on the minds of clients, advisors and the manufacturers of everything from exchange-traded funds to separate accounts.

Tax advisors often recommend that investors purchase municipal bonds issued in the state where they reside to avoid state and local taxes on the interest income. However compelling this strategy may appear, it also results in increased risk.

Financial advisors and wealth managers cited referrals from existing clients as the most successful way of gaining new clients, while the most popular marketing tactic was sponsoring or hosting events that allow for face-to-face networking.