FPA Smartbrief (Jan 3, 2020): Strengthen client relationships, Retirement Tips and More

How diversity makes a difference for financial planning firms

Daria Victorov, CFP®, and John Eing, CPA, CFP®, of Abacus Wealth Partners have made a commitment to growing diversity, equity and inclusion at their firm because they believe it boosts business and positions them better for future success. The pair sat down with Rianka R. Dorsainvil, CFP® professional and host of 2050 TrailBlazers, a podcast aimed at addressing diversity in the financial planning profession, to discuss how their initiatives are working and some of the challenges they have faced.

Strengthen client relationships with these resolutions

Bryce Sanders of Perceptive Business Solutions offers eight New Year’s resolutions to help financial advisers strengthen client relationships in 2020. Among them are to review every relationship, schedule at least one face-to-face meeting and ask about any changes in their lives.

These unexpected costs can ruin retirement

Even a comfortable retirement can be derailed by unforeseen costs. Here are some of these surprise costs that can break the best of budgets.

Coordinated retirement efforts can help married couples

Married couples need to think as a team when it comes to saving and budgeting for the future, experts say. This includes coordinating retirement savings, maximizing Social Security benefits, choosing the right health care options and lowering tax bills.

AML, CFPB top 2020 congressional agenda

The US House of Representatives passed an anti-money laundering reform bill in 2019 and the Senate is expected to take up its own version in 2020. The Consumer Financial Protection Bureau will continue to be a focus for the House Financial Services Committee, said Chairman Maxine Waters, R-Calif., while the Senate could possibly discuss a pot banking bill.

SEC, PCAOB to target audit quality in 2020

The Securities and Exchange Commission and the Public Company Accounting Oversight Board plan to focus on audit quality this year. The PCAOB plans to propose rules that would govern audit firms’ approach to quality control and would create a permanent program for inspections of broker-dealers, while the SEC reportedly aims to further ease rules on auditor independence.

See Financial Planning Association Website by clicking here.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s