Garrett Retreat 16: Full Schedule

1:00pm MDT

Registration & Check-In

Thursday July 21, 2016 1:00pm - 5:00pm MDT
Interlocken AB Foyer

Pre-Conference

2:00pm MDT

Money Tree Pre-Conference Training

Speakers

Mark Snodgrass

President, Money Tree Software

Author of “Silver Financial Planner” and President of Money Tree Software, Mr. Snodgrass combines intuitive planning concepts, powerful mathematical models, and advanced probability analysis to deliver software that helps advisors educate and inform people about the realities... Read More →

Thursday July 21, 2016 2:00pm - 4:00pm MDT
Alder

Pre-Conference

CE Hours Available: 2.0 NAPFA, 2.0 Computer Science CPE

3:00pm MDT

MoneyGuidePro Pre-Conference

At MoneyGuidePro, we believe that everyone needs and deserves a quality financial plan. With the recent release of the fourth generation of MoneyGuidePro (G4) and the recent update of myMoneyGuide, we believe the ability to create and deliver a quality financial plan has just become easier than ever. In this pre-conference session, we will:

Examine what’s new in MoneyGuidePro G4, as well as how it can benefit those affected by the recent DOL rulings

Discuss our collaborative approach to planning with prospects and clients

Demonstrate how to efficiently scale your practice and introduce planning to an unprecedented number of individuals

Speakers

Mike Sigmon

Relationship Manager, MoneyGuidePro

Thursday July 21, 2016 3:00pm - 4:00pm MDT
Fir

Pre-Conference

CE Hours Available: 1.0 NAPFA, 1.0 Computer Science

4:00pm MDT

MAB Mixer with 'First-Timers'

Join Garrett staff and representatives from the Member Advisory Board for a casual "get-together."

Thursday July 21, 2016 4:00pm - 5:00pm MDT
Pavilion

Pre-Conference

4:00pm MDT

Show Us Your Stuff

A table will be available in the Exhibit Hall Thursday through Saturday (locked overnight), where members can leave whatever "Show and Tell" type items they'd like to share and meet with other members for discussion. Grab your items by Saturday night if you'd like to take them home.

Thursday July 21, 2016 4:00pm - 10:00pm MDT
Interlocken A

Networking

5:00pm MDT

Welcome Reception

Connect with sponsors and members over your favorite beverage (cash bar) and enjoy the opening night reception.

As part of the reception, Arlen Moss will lead us in a communication exercise: No More Millennial Mayhem or Boomer Bashing - Let's Learn How to Communicate!

Every day it seems we can find a new article about the entitled Millennials or the ever aging CFP® professional population. As more firms are crossing generational boundaries with clients and advisory teams it is critical to know your audience in each interaction. Today we’ll help you see the other side of your generational relationships in a way that helps advisors of all ages work more effectively with their team and their clients.

Poor communication impacts many levels of your firm through increased staff turnover, lower morale, and poorer client retention. The benefits of coming together will help you allow every member of your team to contribute at their maximum capacity.

We will take a look at generational differences, personality styles and how these interact to give you actionable tips on how to interact with your team and clients more effectively. We will discuss setting team boundaries and client expectations in an ever changing communication landscape.

From straight forward communication tips, audience exercises, and real client stories you will learn how to better connect with your team, your clients, and your clients’ children.

Facilitators

sheryl

Founder, Garrett Planning Network, Inc.

Sheryl Garrett, CFP®, AIF®, founder of the Garrett Planning Network, has been dubbed “The All-American Planner,” because of her zealous mission to “help make competent, objective financial advice accessible to all people.”She has been recognized six times by Investment Advisor... Read More →

Arlene Moss

Owner, Kimberlite Coaching, LLC

Arlene Moss Is the owner of Kimberlite Coaching, a business coaching firm specializingin serving the financial planning community. Arlene began working with fee-only financialadvisors over ten years ago. In 2015 Kimberlite Coaching was born of a desire to meet clients where they... Read More →

Thursday July 21, 2016 5:00pm - 9:00pm MDT
Pavilion

Networking

7:00am MDT

Show Us Your Stuff

Friday July 22, 2016 7:00am - 10:00pm MDT
Interlocken A

Networking

7:30am MDT

First-Time Member Attendee Breakfast

Mix and mingle with other newer members and members attending for the first-time, meet the Garrett staff, coaches and Member Advisory Board, and get oriented to the Retreat experience!

Friday July 22, 2016 7:30am - 8:30am MDT
Spruce

Networking

8:00am MDT

Sponsor Break

Beverage break compliments of TD Ameritrade.

Friday July 22, 2016 8:00am - 9:00am MDT
Interlocken A

Networking

9:00am MDT

What the Liberal Arts Have to Teach Us about Finance

In this wild and wooly presentation, Bill will address the following:

A riff on Tetlock, and his relevance to finance: the extreme difficulty of forecasting in any field, particularly economics and finance, the characteristics of good forecasters, and the toxic relationship among the media, punditry, and forecasting accuracy

The importance of economic history to the practitioner and how the increasing supply/demand imbalance of capital on an ever wealthier planet makes for ever lower capital returns

The capital cycle, and what it means for investors and corporations, and

The importance in neuroeconomics.

Speakers

William Bernstein

Efficient Frontier

Friday July 22, 2016 9:00am - 10:20am MDT
Interlocken B

Keynote

CE Hours Available: 1.5 NAPFA, 1.5 Economics CPE, 1.5 CFP® Certification

10:20am MDT

Sponsor Break

Beverage break compliments of TD Ameritrade.

Friday July 22, 2016 10:20am - 11:00am MDT
Interlocken A

Networking

11:00am MDT

Sponsor GEMS (Garrett Educational Mini Sessions)

Jill MacNeil, LLIS, Inc.: How Innovation Improves Your Golf Game and Your Clients' Asset Protection
The tools over the years have improved, and so has Jill's game. Join her for a quick demo about how technology and innovation have made both golf and insurance quicker and more efficient, and how you can help your clients avoid a bad bounce.

Mike Podgajny, Vanguard: You and Vanguard - A Valuable Combination
Vanguard has offered annuity products since 1991. In that time, Vanguard Annuity Advisor Services has worked directly with financial advisors to provide annuity expertise, low-cost industry leading annuity products, and Vanguard research. Vanguard’s annuity product offering includes the Vanguard Variable Annuity, immediate annuities, deferred income annuities, and longevity insurance issued by a variety of highly rated insurers.

Mary Harris-King, CS2 Compliance Solutions

Brian Gordon, MAGA, LTD.: Longevity and How to Plan for It
In 1965, the average life expectancy for a 65 year old man and woman was another 13 years and 16 years, respectively. Now the life expectancy for 65 year olds is 18 years for men and 20 years for women-effectively a four to five year increase. The reason being advances in medical technology. Which leads to the question of how your family or your clients could fund such an event? Planning early could help alleviate some of the emotional, financial and physical stress of what most often can be a difficult situation.

Michael Riley, TD Ameritrade: TD Ameritrade and You

Speakers

Brian Gordon

President, MAGA Ltd.

>Brian Gordon, CLTC, and President of MAGA Ltd. has 27 years of experience in Long Term Care Insurance (LTCI) planning. In addition to his personal LTC planning and consulting, he has conducted informative seminars for senior and retiree groups, banks, and corporations. He has also... Read More →

Mary Harris-King

President, CS2 Compliance

Mary Harris‐King is Co‐Founder and President of CS2. She has a wide range of experience in the financial services industry, including legislative and regulatory affairs, securities and insurance compliance, and banking and credit union compliance. She has served as Chief Compliance... Read More →

Jill MacNeil

Advisor Services: Long Term Care Specialist, LLIS

Jill’s competitive by nature, and is up for a challenge any day.As part of LLIS’s Advisor Services team, Jill is the Long Term Care Insurance point person. She handles all variable case management for our clients, including life and annuities. Finding the right products for clients... Read More →

Mike Podgajny

Annuity Advisor Services, Vanguard

Michael Podgajny is an sales executive on Vanguard's Annuity Advisor Services team. He covers annunity and retirement income strategies and sales for advisors and institutional clients nationwide. Mr. Podgajny holds a bachelor's degree in Finance from the University of Notre... Read More →

Michael Riley

Director, Strategic Partnerships, TD Ameritrade

Mike Riley oversees a team that delivers business performance solutions that assist RIAs in achieving their strategic objectives. The team enables advisors to achieve their business vision by focusing on implementing best practices in growth, efficiency, human capital, risk management... Read More →

Friday July 22, 2016 11:00am - 11:45am MDT
Interlocken B

General Session

12:00pm MDT

Lunch & Learn with Sponsors - Improving Client Relationships by Protecting Clients’ Assets and Avoiding Sources of Lawsuits

Grab your lunch and head to one of two concurrent sessions hosted by Sponsors.
_____

This presentation is focused on improving your client relationships, by avoiding common mistakes that can lead to unnecessary litigation.

Speakers

Trent Williams

Underwriting Manager, Markel

Trent has been with Markel Corporation since November 2009. Prior to joining Markel Cambridge Alliance, Trent was with Travelers, where he was an Underwriter for Investment Advisors, Funds, and Private Equity risks. While completing coursework, Trent was an intern with UBS. He has... Read More →

Friday July 22, 2016 12:00pm - 1:15pm MDT
Interlocken CD

Lunch and Learn

CE Hours Available: 1.5 NAPFA, 1.5 Business Management & Organization CPE

12:00pm MDT

Lunch & Learn with Sponsors - Wise Advice About Income Security & Wealth Preservation (to take clients from 20s into retirement)

Grab your lunch and head to one of two concurrent sessions hosted by Sponsors.
_____

Your clients need guidance about including insurance in their comprehensive financial plan. You may have clients who are 20, and some who are ready to retire. This session includes updates about -- and real-life client examples of -- insurance solutions that protect your clients' income, assets, business, family, future, and legacy. Delivered to you by two of the industry's most knowledgeable subject matter experts who work with you to implement a full range of insurance solutions that best fit each client’s individual circumstances. Including life, disability, and long term care insurance, along with linked asset solutions (hybrids).

Speakers

Jerry Skapyak JR., LUTCF

Advisor Services; Annuity/Hybrid Specialist, LLIS, Inc.

When fee-only advisors want an expert at retirement funding risk management solutions, Jerry is the one they turn to. That’s why LLIS brought his family and him to sunny Florida in 2008. Jerry spent a number of years climbing the ranks of two top-rated insurance companies, Zurich... Read More →

Jill MacNeil

Advisor Services: Long Term Care Specialist, LLIS

Friday July 22, 2016 12:00pm - 1:15pm MDT
Interlocken B

Lunch and Learn

CE Hours Available: 1.5 NAPFA, 1.5 Specialized Knowledge & Applications CPE, 1.5 CFP® Certification

1:30pm MDT

Behavioral Finance: Psychology and Economics in Investing

Join this presentation to learn learn the role that human emotions play in financial matters, especially in investing. Highlights will include:

Participants will examine their own specific biases (and have fun doing it)

Why CPAs make bad tax decisions on investments

Why we are all hard-wired to buy high and sell low, and how most investment
professionals reinforce this behavioral trait

Specific behavioral financial mistakes (heuristic biases) all investors make

Life in Lake Wobegon: Why nearly all investors think we are above average

The track record of professional investors

Why “excitement and expenses are the enemy of the investor” (Warren Buffet)

“True Lies” — specific, exciting, mainstream investment products that will rob you blind

How the leaders of both behavioral finance and the random walk theory actually invest

Simple techniques that actually work for you and your clients.

Speakers

Allan Roth

Principal, Wealth Logic, LLC

Allan Roth is founder of Wealth Logic, an hourly based financial planning firm. He writes for the Wall Street Journal, AARP, and Financial Planning Magazine. He is also the author of How a Second Grader Beats Wall Street (Wiley 2009). He earned a bachelor’s degree in accounting... Read More →

Friday July 22, 2016 1:30pm - 3:10pm MDT
Interlocken B

Keynote

CE Hours Available: 2.0 NAPFA, 2.0 Communications CPE, 2.0 CFP® Certification

3:15pm MDT

Sponsor Break

Beverage break compliments of TD Ameritrade.

Friday July 22, 2016 3:15pm - 4:00pm MDT
Interlocken A

Networking

4:00pm MDT

Multi-Professional Firm Panel

This panel will provide lessons learned, tips and tricks, on how they built a multi-practitioner firm.

Facilitators

Justin Nichols, CFP®

Director of Operations, Garrett Planning Network

Justin Nichols, CFP® serves as Garrett Planning Network’s Director of Operations. He oversees the use of technology, systems and processes to effectively manage the internal operations of the Network. Nichols also works with prospective financial advisors who are interested in... Read More →

Speakers

Michael Goldman

Founder, Goldman Financial Planning, Inc.

Michael Goldman, MA, CFP® is founder of Goldman Financial Planning near Portland, Maine. He has been a member of the Garrett Planning Network since 2009. You can read more about his background here.No one is more surprised than Michael at the rapid growth of GoldmanFP. The firm started as a side venture in fall of 2012 to provide hourly, fee-only planning locally, while Michael focused most of his attention on a web startup in financial education, WealthGathering.com. In just four years, Goldman FP grew from a lone CFP in 144 sq feet... Read More →

Jean Keener

President, Keener Financial Planning

Jean Keener has been a member of the Garrett Planning Network since 2008 when she started as a career changing solo practitioner. She now leads a team of 7 who served about 260 households last year. The firm works with clients on both an as-needed project basis and ongoing retainer... Read More →

Thomas Conway, JD, CFP®, CIMA®, AIF®, CRC®, RICP®

President, Connemara Group

Tom has been a Garrett Planning Network Member for more than a decade. He is President and Founder of The Connemara Group, a fee-only personal financial planning and investment consulting practice based in Rockville, Maryland. As he himself now approaches age 60, he is becoming... Read More →

Friday July 22, 2016 4:00pm - 6:00pm MDT
Interlocken CD

Concurrent General Session

CE Hours Available: 2.0 NAPFA, 2.0 Business Management & Organization CPE

4:00pm MDT

Solo-Practitioner Firm Panel

The focus of this panel will be a forum on efficiency tools and tips for members who have a solo planner firm and want to remain a solo planner firm. Your firm might have admin or a para-planner staff or just you, but you do not plan on adding more financial planners.

Facilitators

Mary Lacey Gibson

Director of Member Development, Garrett Planning Network

Mary Lacey Gibson, CFP®, owner and founder of Mary Lacey Gibson Small Business Coaching, has counseled, coached, and educated business owners for over 15 years in virtually every industry and at every developmental stage. Mary brings this wide range of experience to Garrett Planning... Read More →

Speakers

Russ Jones, CFP®

Managing Member, RMJ Financial

RMF Financial was founded by Russ Jones, a CFP® professional, as a fee-only, time based advisory firm to bring quality and objective financial advice to everyone. We require no minimum account size or lengthy contracts and offer our advice only when you need it and charge only... Read More →

Tom Nowak, CFP®

Principal, Quantum Financial Planning LLC

Tom Nowak, CFP®, has been providing, hourly, as-needed investment advice for over 15 years as a member of the Garrett Planning Network, Inc. He is also a member of The Forum for Sustainable and Responsible Investment (US SIF), Green America®, the International Environmental Forum... Read More →

Shawn Koch

Principal, Koch Financial Partners, LLC

Shawn Koch, JD is the principal of Koch Financial Partners, LLC (KFP). Shawn practiced law for 8 years, and worked with retirement plans for 10 years. She managed the corporate employee benefit programs at two manufacturing firms prior to becoming a CERTIFIED FINANCIAL PLANNER... Read More →

Friday July 22, 2016 4:00pm - 6:00pm MDT
Interlocken B

Concurrent General Session

CE Hours Available: 2.0 NAPFA, 2.0 Business Management & Organization CPE

6:00pm MDT

Networking with Sponsors, Advisors & Drinks

Cash Bar - Dinner On Your Own

Friday July 22, 2016 6:00pm - 7:30pm MDT
Interlocken AB Foyer

Networking

6:30am MDT

Fun Run / Walk

Exhilarating! Refreshing! Inspirational! Fun! Super Charge Your Brain!

Course: 2.44 miles through lovely Central HOA Park adjacent to Omni Hotel (see attached map of route)

T-Shirts: Stop by the table next to Registration and design your own complimentary FUN RUN t-shirt. We’re a competitive group so there will be prizes of course for: Most Creative, Most Artistic, Most Inspirational, and Judge’s Blue Ribbon Choice.

Let’s Have Some Fun!

Check out this book on how to supercharge your mental circuits: Revolutionary Science-Exercise-Brain

Saturday July 23, 2016 6:30am - 7:30am MDT
Pavilion

Networking

7:00am MDT

Show Us Your Stuff

Saturday July 23, 2016 7:00am - 10:00pm MDT
Interlocken A

Networking

8:00am MDT

Sponsor Break

Beverage break compliments of TD Ameritrade.

Saturday July 23, 2016 8:00am - 9:00am MDT
Interlocken A

Networking

8:00am MDT

Time-Based Study Group Gathering

The Time-Based Study Group will be discussing their time-based practices, how best to support one another, and discussion topics of interest for 2016 and beyond.

Saturday July 23, 2016 8:00am - 9:00am MDT
Fir

Networking

9:00am MDT

Reverse Mortgages in Retirement Income Planning

Speakers

AIFA®

CFP®

Ph.D.

John Salter

Saturday July 23, 2016 9:00am - 10:15am MDT
Interlocken B

Keynote

CE Hours Available: 1.5 NAPFA, 1.5 Specialized Knowledge & Applications CPE, 1.5 CFP® Certification

10:15am MDT

Sponsor Break

Beverage break compliments of TD Ameritrade. Snack break compliments of LLIS.

Saturday July 23, 2016 10:15am - 10:45am MDT
Interlocken A

Networking

10:50am MDT

Sponsor GEMS (Garrett Educational Mini Sessions)

Thomas Duffany, AFCPE: Financial Wellness

Kirk Hoewisch, FPS Services (HealthSavings Administrators): HSAs: Telling the Story Differently

Danielle Burns and Mike Sakraida, First Affirmative: Why Sustainable Investing – for Advisors & their Clients

Mark Desiderio, Ryan Insurance Strategy Consultants: New Tools You Can Use!

Miriam Lawrence, Horsesmouth: New Skills and New Marketing for Tomorrow's Advisor
Advisors are now facing what may be the most daunting challenges ever encountered in our profession. Two major forces are at work in the industry today. We have technology driving commoditization of investment management and even financial planning – which means advisors MUST add new value to justify their fees. With the introduction of the DOL Rule, even being a fiduciary will become less of a differentiator for advisors. At the same time, while clients were once mostly happy to be told what to do, today’s consumers want to learn and be empowered and engaged in managing their financial lives. Tomorrow’s advisors will employ the new skills needed to help clients make the decisions that shape their lives, and new marketing strategies that differentiate them and highlight those new skills.

Scottrade Advisor Services

Speakers

Danielle Burns

VP, Sales and Marketing, First Affirmative Financial Network

Mark Desiderio

Manager, Advisor Insurance Services, Ryan Insurance Strategy Consultants

Thomas Duffany

Certification Special Programs Director, AFCPE

AFCPE focuses on certifying Financial Counseling and Education professionals (AFC certification - http://www.afcpe.org/certification/curriculum/accredited-financial-counselor/) and providing career development and mentoring opportunities. I'm interested in hearing what you do and... Read More →

Kirk Hoewisch

Chief Revenue Officer, FPS Services (HealthSavings Administrators)

Miriam Lawrence

Director, Corporate Programs, Horsesmouth LLC

Miriam Lawrence joined Horsesmouth as the company’s fourth employee in early 1997. As Director of Corporate Programs, she is responsible for developing and managing relationships with broker/dealers, asset managers, and other financial services firms. She previously served as... Read More →

Mike Sakraida

Development Consultant, First Affirmative Financial Network

Saturday July 23, 2016 10:50am - 11:40am MDT
Interlocken B

General Session

12:00pm MDT

Lunch & Learn with Sponsors - Current Compliance Topics for RIA Firms

Grab your lunch and head to one of two concurrent sessions hosted by Sponsors.
_____

Paul King and Mary Harris-King of CS2 Compliance will discuss issues and trends related to compliance for state-registered RIA firms, including:

Issues relating to fiduciary duty for fee-only firms;

Cybersecurity;

Business continuity and succession planning;

CCO liability, and more.

Speakers

Mary Harris-King

President, CS2 Compliance

Paul King

Vice President, CS2 Compliance

Paul King is CS2's Vice President and Co-Founder. He has served in various industry roles including Chief Compliance Officer for SEC and state-registered investment advisers and FINRA/NFA regulated brokerage firms, directed operations departments in RIA and broker/dealer firms, national... Read More →

Saturday July 23, 2016 12:00pm - 1:15pm MDT
Interlocken B

Lunch and Learn

CE Hours Available: 1.5 NAPFA, 1.5 Business Management & Organization CPE

12:00pm MDT

Lunch & Learn with Sponsors - The Affluent Investor and Vanguard Advisor Support

Grab your lunch and head to one of two concurrent sessions hosted by Sponsors.
_____

Vanguard has partnered with Spectrem Group, an industry leader in primary investor research, to bring you the latest trends in the outlook and behavior of more than 10,000 mass affluent, millionaire, and ultra-high-net-worth respondents. In this session, we will provide in-depth analysis on the latest affluent investor attitudes, trends, and behaviors. Learn how to strengthen your practice with actionable insights and Vanguard advisor resources.

Speakers

Todd Swenson

Sales Executive - RIA, Vanguard

Todd Swenson leads the sales efforts of the Midwestern division working with Registered Investment Advisors within Vanguard's Financial Advisor Services™ group. Mr. Swenson joined Vanguard in 1997. From 1997 to 2011, his primary focus was serving plan sponsors, consultants and their... Read More →

Saturday July 23, 2016 12:00pm - 1:15pm MDT
Interlocken CD

Lunch and Learn

CE Hours Available: 1.5 NAPFA, 1.5 Specialized Knowledge & Applications CPE

1:30pm MDT

Collaborative Financial Planning

Make the financial planning process more collaborative to tackle the complex planning problems. Explore "agile" development principles and responsive processes by creating feedback loops with clients to guide both of you along the financial planning process.

Speakers

CFP®

Dylan Ross

Saturday July 23, 2016 1:30pm - 3:10pm MDT
Interlocken CD

Concurrent General Session

CE Hours Available: 2.0 NAPFA, 2.0 Specialized Knowledge CPE, 2.0 CFP® Certification (tentative)

1:30pm MDT

Planning for Costs Related to Caregiving

What do you know about the Age of Aging? Baby boomers are turning 65 at a rate of 10,000 per day, and by 2030 this demographic group will represent 20% of the population. The fastest growing age segment of the population are those ages 85+. The potential is high for our clients to be either caregivers or care recipients or both. This presentation will cover factors that should be considered when planning for costs related to caregiving from both perspectives.

Speakers

CFP®

Louise Schroeder

Saturday July 23, 2016 1:30pm - 3:10pm MDT
Interlocken B

Concurrent General Session

CE Hours Available: 2.0 NAPFA, 2.0 Specialized Knowledge & Applications CPE, 2.0 CFP® Certification

3:10pm MDT

Sponsor Break - Final

Beverage break compliments of TD Ameritrade.

Saturday July 23, 2016 3:10pm - 4:00pm MDT
Interlocken A

Networking

4:00pm MDT

For Better or Worse

Should you add Divorce Financial Planning as a niche to your practice? These clients are not in your current client base. This is not depressing work, in fact, your expertise will increase exponentially as you deliver exquisite results to families in a tough transition. Learn the basics of what it takes to serve this niche including how we treat stock options, business valuations, spending, retirement planning, and taxes when we are working in this space. Much of what Bonnie is sharing is a template for any niche.

Speakers

AIF®

CDFA™

CFP®

Bonnie Ashby Sewell

Saturday July 23, 2016 4:00pm - 5:15pm MDT
Interlocken CD

Concurrent General Session

CE Hours Available: 1.5 NAPFA, 1.5 Specialized Knowledge & Applications CPE, 1.5 CFP® Certification (tentative)

4:00pm MDT

What's Heating Up Besides the Planet? The Connection Between Being a Fiduciary and SRI

Facilitators

Jim Frazin

Financial Planner, Communitas Financial Planning Inc

Speakers

Paul Herman

CEO + Founder, HIP Investor Inc.

An internationally recognized expert in impact investing, Herman invented the “HIP = Human Impact + Profit” ratings system more than a decade ago, in 2004 when investors asked how to create more human impact with their for-profit portfolios. HIP Investor Ratings show that portfolios... Read More →

John Roberts

Portfolio Manager, Workplace Equality Index

John Roberts, Esq. is the portfolio manager of the Workplace Equality Index. He is also a seasoned portfolio manager in the Wealth Management group at Denver Investments, with more than 15 years’ experience managing portfolios screened for LGBT workplace policies. John is a partner... Read More →

Mike Sakraida

Development Consultant, First Affirmative Financial Network

Saturday July 23, 2016 4:00pm - 5:15pm MDT
Interlocken B

Concurrent General Session

CE Hours Available: 1.5 NAPFA, 1.5 Specialized Knowledge & Applications CPE, 1.5 CFP® Certification

5:30pm MDT

Fiduciary Best Practices for Registered Investment Adviser Owners

The fiduciary discussion is now well into the mainstream, thanks to the DOL Rule, John Oliver’s entertaining and accurate video on his firm’s experience with their 401(k) – 4 MILLION views as of mid-July, TIME and MONEY magazine articles, and lots of other mainstream media coverage. As the DOL Rule takes effect for retirement investors, investors working with non-fiduciaries may decode that they are not receiving fiduciary advice and look for a fiduciary adviser.

And who is best positioned to provide this fiduciary advice? RIA owners are, of course – and so much the better if they are also Planners! As fiduciaries, RIA owners know they’re required to work in the best interest of their clients. What they may not realize is that in addition to helping RIA owners meet their fiduciary responsibilities, when they put a framework for prudent best practices in place it can help their firm grow and their clients thrive. Best practices can an RIA firm’s ensure its preparedness and readiness to work in the best interest of more clients.

What are these best practices?

Which ones do firms find challenging?

Do we need an IPS for clients? Why is that considered a prudent practice?

Does that matter if the client is doing the implementation of our recommendations?

There’s a framework for fiduciary decision-making that helps RIA owners develop a consistent, repeatable and prudent investment process. Based on a quality management system, this framework enables RIA firms to organize, formalize implement and monitor prudent investment processes for their clients.

Once excellent fiduciary practices are in place, an RIA firm may choose to earn Certification of their prudent practices from the Centre for Fiduciary Excellence. As RIA owners go through the Certification process, they articulate their fiduciary thinking in ways that can also help them articulate their value to clients and prospective clients. They also see opportunities for improvement or close gaps in their process. Certification differentiates excellent RIA fiduciary firms, especially now, separating those who claim to be fiduciary from those who are and have been independently verified.

Speakers