Friday, May 9
12. Clients for Life: Adding Financial Life Planning to Your Practice, 8:00-9:40 (CFP,CPA, Ins. pending 2hrs)
The key to building successful relationships with your clients is discovering their true goals and objectives. Through proven, powerful principles-based on the Seven Stages of Money Maturity precepts and groundbreaking EVOKE™ process - the Kinder Institute of Life Planning shows how to dramatically improve the discovery process while efficiently identifying and addressing underlying financial concerns and roadblocks to success.
Session Leader
Phil Dyer, CFP®, RLP® has operated as a fee-only financial planner since 1996, specializing in holistic financial planning and financial education programs. Mr. Dyer writes monthly financial columns for Military Officer and Military Spouse magazines and articles on financial life planning for the NAPFA Advisor and Horsemouth.com. He has been quoted in Smart Money magazine, Kiplinger’s Personal Finance magazine, The Washington Post, The Baltimore Sun, The Chicago Tribune and Investment News magazine. Mr. Dyer has also been featured in the Washington Business Journal for his work with military families.
13. Behavioral Finance, 10:10-11:00 (CFP,CPA,LH 1 hr)
Although most people believe they are entirely rational, we know that emotions play a large part in our decisions, including investing. This session will take a look at the origins of behavioral finance., and also discuss how investor behavior results in market anomalies and how we can actually profit from investor irrationality.
Session Leader
Theodore Dimig, JD is Vice President and a portfolio manager in the U.S. Equity Group. He currently acts as head of the client portfolio team responsible for behavioral finance based strategies. Mr. Dimig has also worked extensively on the firm’s fundamentally driven products, focusing largely on its institutional client base. Prior to joining the U.S. Equity Group, he worked as a tax aware portfolio manager within the firm’s Separately Managed Accounts group.
14. The Changing Landscape of Divorce, 10:10-11:00 (CFP,CPA,LH 1 hr)
With a 50% national divorce rate, financial planners should be aware of the impact of this on our business associations. This session will cover the collaborative and the adversarial divorce process. Professionals will be expected to provide more skills and tools to meet their clients’ needs while providing neutrality and transparency in client communications. Group participants will also discuss the impact of IACP ethical barriers on the financial planner’s practice.
Session Leader
Rob Fergusson, CDFA is a Certified Divorce Financial Analyst. His practice, Rob Fergusson Divorce Financial Solutions, deals exclusively in divorce financial counseling. He works with individuals and couples, guiding them through the financial issues of separation, annulment, divorce, post-divorce support modification, and pre– and post-nuptial agreements. Mr. Fergusson is a member of the Institute for Divorce Financial Analysts and serves as a volunteer in the largest divorce outreach program in central Virginia, as a facilitator and former member of its Executive Steering Committee.
15. Consumer Driven Health Plans:Passing Fad or the Future, 10:10-11:00 (CFP,CPA,LH 1 hr)
As health care is a hot political topic today, financial planners need to understand the consumer driven health plans. This session will cover the cost and access of health care today. It will examine HSAs, high-deductible plans and how consumer-directed health plans are lowering costs and empowering the consumer. Recent market trends and projections in health care will be discussed.
Session Leader
Roy Ramthun is President of HSA Consulting Services, a health care consulting practice specializing in Health Savings Accounts and consumer-driven health care issues. Prior to forming this consulting practice, he was the Special Assistant to the President of The United States for Economic Policy. As a member of the National Economic Council staff, Mr. Ramthun was the senior health policy advisor to President George W. Bush regarding health care issues involving the Internal Revenue Code (primarily HSAs), Medicare, Medicaid and the Federal Employees Health Benefits Program. Before joining the President’s staff, he was the Senior Advisor to the Secretary of the U.S. Treasurer for health initiatives. In this role, he led Treasury’s implementation of HSAs after they were enacted into law in December, 2003.
16. Living and Testamentary Trusts, 11:10-12:00 (CFP,CPA, Ins. pending 1hr)
This session will explore the use of Living and Testamentary Trusts in Public Benefits and Creditor Avoidance Practice; “first party” trusts in which the assets of a disabled person can be eliminated from consideration in SSI and Medicaid programs; use of “third party” trusts for the effective supplementation of public benefits, creditor avoidance and ultimate transmission to other objects of bounty.
Session Leader
Shawn Majette, JD directs the elder law section for ThompsonMcMullan, P.C. His practice focuses on the legal, medical, financial, and management issues involved in the caring for the incapacitated elderly. Since 1987, Mr. Majette has served as a Special Justice for adult mental health commitment hearing for the City of Richmond. He has held numerous appointments to Virginia General Assembly advisory committees and has assisted in drafting several Virginia statutes relating to elder law and mental health issues, including revisions to the law of civil commitment, emergency medical conscent, guardianship and the prevention of financial abuse of incapacitated adults under durable powers of attorney. In 1999, Mr. Majette was recognized by Richmond Magazine as the top lawyer in Richmond in the field of Elder Law.
17. Areas to Impact Your Clients: Income Tax Planning, 11:10-12:00 and 1:10-2:00 (CFP,CPA,LH 2 hrs)
Since only two things are certain - death and taxes; if you’re alive, you’d better plan to pay taxes. This session will allow you to give specific ideas to your clients on their income tax planning. You’ll discuss investments, charitable giving, family situations, partnerships and beneficiaries. This will be a practical and informative presentation.
Session Leader
Larry McKoy, CPA/PFS, CFP® is a Senior Tax Partner with Goodman and Company. He has over 20 years of experience working with tax issues and opportunities for his clients. In addition to core tax compliance, much of his time is spent assisting clients in numerous industries with mapping out tax strategies to fit within their current business plans. Mr. McKoy works extensively with pass thru entities including S corporations, partnerships, LLC’s and trusts to accomplish cutting edge tax structures. He has extensive experience with mergers, acquisitions, multi-state tax issues, IRS Interface issues, executive compensation tax issues, and owner/executive planning.
18. Business Succession Planning, 11:10-12:00 (CFP,CPA,LH 1 hr)
As “Boomers” reach retirement age, many family businesses will be passed on to second and third generations. This process, to be successful, involves identifying goals and designing strategies while understanding the risks. Participants will learn the importance of planning the succession process as they look at avoidance issues as well as dangers, solutions and opportunities. Session Leader Ben English, JD helps growing companies develop practical solutions to legal issues. He brings to his clients a wealth of experience to help them capitalize on business opportunities while managing the risk associated with them. Mr. English advises clients in structuring business entities, providing advice on business plans, financing, mergers and acquisitions, shareholder agreements, employee compensation and benefits and strategic relationships with other businesses. He also advises clients on business succession strategies, ranging from transition of management and transfer of ownership of a family business, to the sale of a company to a financial or strategic buyer.
19. Trusts as IRA Beneficiaries, 1:10-2:00 (CFP,CPA,LH 1 hr)
As the use of trusts in estate planning becomes increasingly popular for both tax and non-tax reasons, and clients continue to accumulate more and more assets in retirement accounts, the use of trusts as beneficiaries of IRAs is increasing desirable and necessary. Unfortunately, though, the rules pertaining to IRAs payable to a trust after death are complex and challenging. In this session, we will explore the unique requirements for IRAs to preserve and maximize their tax deferral after death when a trust is the beneficiary, with details about the rules for trusts to qualify for the IRA’s post-death tax deferral “stretch,” how to calculate the actual post-death required minimum distributions for the trust, and examples of specific wording from sample trusts.
Session Leader
Michael Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, CSPP™ is Director of Financial Planning for Pinnacle Advisory Group, a private wealth management firm that overseas more than $500 million of client assets. He is an active writer and editor and has been featured in publications including Financial Planning, The Journal of Financial Planning, Journal of Retirement Planning, Practical Tax Strategies, Leimberg Information Services, as well as The Wall Street Journal, BusinessWeek, CNBC Power Lunch, NBC Nightly News and more. In addition, Mr. Kitces is a co-author with John Olsen of “The Annuity Advisor.” He is also a co-founder of NexGen, a community of the next generation of financial planners that aims to ensure the transference of wisdom, tradition and integrity from the pioneers of financial planning to the next generation of the profession.
20. Life Insurance Income Tax Traps, 1:10-2:00 (CFP,CPA,LH 1 hr)
Life insurance issues can be confusing to even the seasoned professional. This presenter will cover the Pension Protection Act of 2006, transfers and events which cause recognition of taxable income and many specific insurance problems to help you better advise your clients.
Session Leader
Doug Cronkright, JD, CLU is a Corporate Vice President of New York Life Insurance Company. He is an Advanced Planning Consultant for the South Central Agencies. He is responsible for the advanced planning training, consultation, case development and case presentation for the more than 1,800 persons in the New York Life field force in the South Central Zone. Mr. Cronkright’s involvement includes meetings, seminars, personal consultation, correspondence, reports and personal presentations as well as participation in study groups, councils, outside speaking engagements and continuing education. He has participated in Georgia’s continuing legal education program as a speaker on estate planning and tax related topics for participant credit.
21. Cutting Edge Tax Planning Developments and Opportunities, 2:10-3:00 (CFP,CPA,LH 1 hr)
This session is designed to educate financial advisors about the latest changes and developments in tax laws and regulations from Congress, the Treasury, the IRS and the courts that are relevant and pertinent to their work with clients. Topics covered include new kiddie tax rules, direct roth conversions and non-spouse beneficiary transfers from employer retirement plans, 0% capital gains and dividend rates, and other important planning issues! Session Leader Michael Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, CSPP™
22. Alternative Thinking About Investments, 2:10-3:00 (CFP,CPA,LH 1 hr)
This presentation will explain how large endowments view the investment world, why these large endowments outperform their smaller endowment counterparts and how the large endowments use of alternative investments contribute to this performance. Session Leader Robert Brown is Director of Sales and Marketing for Hatteras. He is responsible for creating and overseeing the strategic business development efforts of Hatteras. As part of his responsibilities, Mr. Brown manages the sales team and the team of alternative investment specialists who support advisory partners. He also oversees the development of new products and services.
23. Risk Management - P & C Basics for Financial Advisors, 2:10-3:00 (CFP,CPA,OGI 1 hr)
With the ever-changing Property and Casualty insurance market, proper coverage is imperative to consumers. This session will cover the increased awareness of property coverage due to Hurricane Katrina and Isabel. It will examine the impact of inadequate property and casualty coverage to wealth management and estate planning strategies.
Session Leader
Angie Hart, LUTCF, CLTC, AFIS is the Sales Trainer and community liaison for Farm Bureau Insurance Companies. Her past employment includes Senior Vice President for SunTrust Bank and training and sales support for State Farm Insurance. Ms. Hart recently served as an adjunct instructor of Business Management and Finance for undergraduate and graduate students of Averett and Virginia Commonwealth Universities. She has received special recognition from the Virginia Bankers Association, NAACP and The U.S. Hispanic Chamber of Commerce.
24. The Yale Endowment: A Case Study in Investment Policy, 3:20-4:10 (CFA,CPA,LH 1 hr)
An in-depth study of the Yale Endowment which looks at the factors that have contributed to its success and the aspects of the endowment’s approach that might be transferable to a financial advisor’s practice.
Session Leader
John Nersesian, CFP®, CIMA, CIS is Managing Director of Wealth Management Services at Nuveen Investments where his group provides wealth management and practice development education and consulting support to successful advisors. He is recognized within the financial services industry as an expert in Investment Consulting and Financial Planning issues and is a frequent contributor to The Wall Street Journal, Bloomberg and CNN. An experienced financial advisor to corporate executives, affluent families and non-profit organizations, Mr. Nersesian was a First Vice President of Merrill Lynch Private Client Group prior to joining Nuveen.
25. Capital Markets and Economic Outlook, 4:10-5:05 (CFP,CPA 1 hr)
This presentation will examine the current issues and events affecting our economy and capital markets, such as the current level and direction of interest rates, monetary and fiscal policy issues and the equity and fixed income markets. The session will also include a discussion of some of the investment risks and opportunities advisors currently face.
Session Leader
Shannon Harkin, CFA, is a Senior Portfolio Manager for AllianceBernstein Investments. As an SPM, she is a member of the Retail Investors Investment Policy Group which has responsibility for the clearest positioning and communications of AllianceBernstein investing disciplines for Growth, Value, Core Equities and Fixed Income to retail investors and their financial advisors. Ms. Harkin has been quoted in such publications as The Wall Street Journal and Investor’s Business Daily. She has 13 years of investment Experience.