Financial Planning Trends to Keep an Eye on in 2020

2020 Financial Planning Industry Trends

We’ve been reflecting on the most prominent issues that have reshaped how advisors approach their craft in recent years. Yes, we’re thinking about robo-advisors, but beyond that, we’re also interested in the implications of a decade-long bull market, demographic changes, and the persistent stream of advisors summoning the courage to strike their own path. How…

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Data Aggregation and Data Governance: Four Important Questions to Ask Before Sharing Data

Financial data aggregation compliance

The recent passing of the SECURE Act and, more recently, reports of improper sale of consumer data by financial data aggregators, have brought attention to the question of data governance and accountability in the Fintech industry. Financial data aggregation involves gathering data from disparate sources and presenting it in a single, comprehensive view. The power of data…

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Understanding the CFP Board’s New Standard on Technology for Financial Planning Software

CFP Board New Tech Standard for Financial Planning

Recognizing it likely was overdue in providing robust technology standards for CFP® professionals, on October 1, 2019, the CFP Board unveiled its new Code of Ethics and Standards of Practice. The regulations are effective now, but the CFP Board begins enforcing them on June 30, 2020. The new Code of Standards, among other things, introduces…

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The 7-Step Financial Planning Process: How Advisors Can Adapt for Compliance

The CFP Board’s new Code of Ethics and Standards of Conduct went into effect on October 1, 2019. This comprehensive update to the Practice Standards, the most recent to address the delivery of financial planning services since 2007, focuses on ethical responsibilities in developing, presenting, and implementing recommendations. CFP® professionals and advisory firms must understand…

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