Series:  From Tax Preparer to Financial Planner: The Road Best TraveledStep 1:  Understanding the value of Financial PlanningBreak into Personal Financial Planning: How CPAs Can Get in the Game

May 16th, 2:00 to 3:30 p.m. ETLyle Benson, Chris Benson, Michael Goodman,

Andrea Millar

Personal Financial Planning Section

Introduction

About the PFP Section & PFS Credential• Information, resources, advocacy and guidance for CPAs who

specialize in providing estate, tax, retirement, risk management and investment planning advice.

• Personal Financial Specialist (PFS) credential distinguishes CPAs as subject-matter experts who have the experience and knowledge to deliver the highest quality financial planning services.

About the Young CPA Network• A community in which young and aspiring CPAs can seek

answers and advice regarding career challenges and opportunities, while building the supportive network of professional relationships they need to be successful in the CPA profession.

Personal Financial Planning Section

Introduction

About this Web seminarCPAs are quite possibly the single most important decision makers for individuals and businesses, and it is time to realize that we do more than just taxes.  There is an entire profession of CPA financial planners dedicated to advising clients on the financial decisions that will impact every facet of their lives.  This Web seminar is ideal for you if you enjoy interacting with people, are good with numbers, have an interest in providing value-added and profitable services to your clients and like to have a positive impact on others. A career as a CPA financial planner or CPA/Personal Financial Specialist (PFS) may be right for you. This web seminar is ideal for both emerging CPAs trying to break into this niche career path and seasoned CPAs who want to expand their existing practices with this value-added service.

Personal Financial Planning Section

The Panelists

Michael Goodman, CPA/PFS, CFP®Wealthstream Advisors, Inc.

Andrea R. Millar, CPA/PFSSr. Technical Manager, PFP Division, AICPA

Lyle Benson, CPA/PFS, CFP®LK Benson & Co.

Chris Benson, CPA/PFSLK Benson & Co.

Personal Financial Planning Section

Today’s Agenda

The path that each of these CPAs took to achieve the career of their dreams

What it means to be a CPA financial planner

Business opportunities

How to get educated and gain the experience you need

How to provide this value-added service to your existing tax client base

Keys to success

Q&A throughout

Personal Financial Planning Section

At what point in your career did you realize that you wanted to get involved with

personal financial planning?  

Personal Financial Planning Section

One can go into personal financial planning without being a CPA.

Why does being a CPA matter?

Personal Financial Planning Section

If you were focused on tax, how did you transition to PFP?

How did you learn to do what you do? 

Personal Financial Planning Section

From a business model standpoint, what do you like in PFP that you didn’t have

in tax?

Personal Financial Planning Section

How did you convince your clients to do PFP?

How did you add value to your clients?

Personal Financial Planning Section

Describe examples of client cases you have handled.

Personal Financial Planning Section

Is there coaching or courses that you can take to develop confidence when engaging

with clients or prospects?

Personal Financial Planning Section

What is the timeframe to move from tax to PFP? In terms of getting educated, gaining

experience and being ready to advise clients? 

Personal Financial Planning Section

For those emerging in their careers, how do you get clients to trust you with doing their

investments and PFP (i.e. grey hair syndrome)?

Personal Financial Planning Section

For those emerging in their careers, after getting education in PFP, how do you find a position in a CPA firm using your PFP and

investment skills?

 

Personal Financial Planning Section

Get Involved

AICPA Personal Financial Planning Section (aicpa.org/PFP)

AICPA Advanced Personal Financial Planning Conference (cpa2biz.com/PFP) • 2-day sessions for those in earlier stages of PFP

o Implementing PFP Services: Step by Step Plans for Successo CPA/PFS Review Class

Interested in joining an emerging CPA networking group specific to financial planning? Email us at financialplanning@aicpa.org.

State CPA societies

Search: YoungCPANetwork

http://bit.ly/YoungCPANetworkSearch: AICPA PFP Section

twitter.com/YoungCPANetwork

Social Networking Opportunities

Personal Financial Planning Section

CPA/PFS Program At-A-Glance

PFS exam review • Self-study, web review and live review options available to

purchase at cpa2biz.com

PFS exam registration • Learn more & register at aicpa.org/PFSexam • 2012 exam windows

o Summer: June 18 - July 27, 2012o Winter: December 26, 2012 - February 5, 2013

PFS education • In-depth self-study courses available to purchase at

cpa2biz.com

2012 PFS exam sponsorship program • Summer deadline: June 18, 2012• Winter deadline: December 26, 2012

For more information, visit www.aicpa.org/PFP/PFS

Personal Financial Planning Section

AICPA Web Seminar Series:From Tax Preparer to Financial Planner

Part 1 Understanding

the value of financial planning

Part 2 Moving from

tax compliance to tax planning

for individuals

Part 3 Moving from

tax planner to holistic

financial planner

Part 4 Implementing a PFP practice

Build on your financial planning knowledge with the AICPA web seminar series, From Tax Preparer to Financial Planner. The series covers the necessary steps to transition from tax preparer to financial planner.   Register today at CPA2Biz.com/Webcasts. Discounts available for PFP/PFS and Tax Section members.