Lehigh Valley Chapter Personal Financial Planning Program and Networking Lunch

Join your fellow Lehigh Valley Chapter members for a personal financial planning program presented by in-demand, expert speaker Michael Kitces. Immediately following the program enjoy a networking lunch reception where you can mix and mingle with fellow chapter members in a casual atmosphere.

Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is a partner and the Director of Research for Pinnacle Advisory Group, a private wealth management firm located in Columbia, Maryland that oversees approximately $1.3 billion of client assets. In addition, he is a co-founder of the XY Planning Network, the practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.

Session 1:

With the issuance of a Department of Labor (DoL) fiduciary rule on April 6 of 2016, the world of professional financial advice took its first step into the future, declaring that brokers can no longer earn commissions and other forms of conflicted compensation from advice via consumers, unless they agree to do so pursuant to a Best Interests Contract (BIC) agreement with the client, or meet the requirements to be a Level Fee Fiduciary. Both standards commit the advice-provider to a fiduciary standard of giving advice in the “best interests” of the client, earning “reasonable compensation”, and providing appropriate disclosure and transparency about the products and compensation involved, which in turn will require significant changes to how advisors do business in the years to come. Click to view learning objectives.

Session 2:

For long-term investors, the reality is that even if markets are volatile for a period of time, as long as the portfolio stays invested, returns can average out in the long run. In the case of retirees, however, ongoing spending withdrawals introduce the possibility that if the portfolio experiences weak returns early on, it could be depleted entirely before the good returns finally show up. As a result, retirees must consider this “sequence of returns” risk when planning for retirement, and strategies to manage it, from reducing spending in the first place, to engaging in more dynamic asset allocation to reduce risk exposure, or dynamic spending strategies to adapt spending withdrawals to market changes along the way! Click to view learning objectives.

Session 3:

Determining a “safe” amount of retirement spending is an increasingly popular topic amongst financial planners, yet a great deal of confusion exists about the current state of research and how it should be applied. In this session, we will explore the problems with traditional linear projections, the impact of the sequence of returns on the ability to safely retire, the current state of research on safe withdrawal rates, and the uses and potential concerns of applying the research in client situations. Click to view learning objectives.

Thank You to Our Networking Lunch Sponsor: Paychex

• Schedule of events:
  • 7:30 a.m. - 8:00 a.m. - Registration and Breakfast
  • 8:00 a.m. - 12:00 p.m. - Program
  • 12:00 p.m. - 1:30 p.m. - Networking lunch
• Lunch only - $10
• Firm Table of Six People - $500 - contact Kelli Comegys at kcomegys@picpa.org .