All eyes are on the DOL and SEC as they move forward with fiduciary rulemaking. Now that the DOL Final Rule is out and may withstand any challenges, eyes are turning to how the SEC will proceed with their fiduciary rulemaking. No matter how the fiduciary process is played out, a rich understanding why the fiduciary standard exists is crucial as a defining characteristic of all true professions. By embedding fiduciary principles and processes in a financial planning practice the practitioner goes beyond compliance to demonstrate true professionalism and establish a successful and sustainable business model. This session will cover why the fiduciary standard exists, where recent regulatory developments stand, seven precepts to guide fiduciary conduct, and a novel approach to telling the fiduciary story.
Cybersecurity is one of the hottest issues of our day and the financial services industry is a definite target for cyber criminals. This session will provide information on the obligation to safeguard clients’ data, as well as strategies on ways to protect yourself and your business.
Describe cyber security risk in the financial services industry.
Upon completion, participants will be able to understand what laws and regulations require of them to protect against cyber security risks in the financial services industry.
Apply strategies to minimize and/or limit both regulatory risks and cyber security risks in their financial services business.
For financial planning to continue to emerge as a true profession, we must ensure that our best practices are based on the best available science, rather than custom and received wisdom. While this doesnt require that all practitioners become scientists, it does require the ability to recognize and evaluate research-based writing. During this session we will review the key elements of research-based writing in financial planning and offer techniques for evaluating and incorporating it into your daily practice of financial planning.
Distinguish between informal and research-based writing in financial planning.
Better use research-based writing by understanding the nature of the research question and the methodology by which it was tested, as well as the ability to evaluate the ultimate findings.
Incorporate the results of research-based writing into their daily work with clients.
The art and science of financial planning is practiced within a space of possibility shaped by many forces - including history, tradition, culture, technology, markets and regulation. In turn, these forces develop within the confines of economic constraints. Economics is therefore responsible for shaping much of our professional environment. Yet like fish in water, we are often unaware of our immediate surroundings accepting without question the world are accustomed to as the way things are.
Join Pavlina Tcherneva as she breaks new ground at FPA Retreat - lifting the veil on money, debt, unemployment and inequality to reveal a new world of economic possibility for the 21st Century.
Helping clients cope with an unknowable future is a fundamental skill for professional financial planners.
Participants will be exposed to alternative interpretations of economic forces grounded in the realities of money and banking.
The purpose of this presentation is to share results from clinical tests designed to evaluate the relationships between and among financial anxiety, physiological arousal, and the intention to engage in financial planning. The presentation will include examples of physiological arousal, as well as dialogue among attendees about arousal perceptions and practical ways to manage a clients arousal and financial anxiety levels. A model will be presented that helps answer why some clients are more likely to pursue long-term financial planning compared to others.
Understand how people's behavior is impacted by cognition, arousal, and stress.
Learn how often a planner's perception of a client's mood is inaccurate.
Develop an understanding of ways to both explain and predict future client behavior related to plan implementation.
Using social media today is not only common, but expected and often demanded. It is imperative that Financial Advisors be compliant with regulatory obligations, while also meeting the needs and expectations of clients. Better understand how to be compliant with regulations.
Describe how to be compliant with regulations.
Identify what regulations govern social media use.
Explain how to be compliant with those regulations.
Against the backdrop of current cyber security risks and applicable laws for the financial services industry, the SEC's recent initiative regarding the protection of information will be explored. Every financial adviser is at risk, even if supported by the best and most compliant BD. Practical tips and recommendations on being and staying compliant will be offered.
Recognize current information security risks in the financial services industry
Recall the SEC's, and other regulatorsâ€™ current initiatives to enforce information protection
Summarize how every financial adviser can protect his/herself, as well as their clients