To provide the leadership role in casting the CPA as the
premier and "trusted" provider of Personal Financial Planning (PFP) to both the
public and NYSSCPA members through committee communications and educational
programming.
--Enhance the CPA's ability to provide effective
financial planning services by providing guidance:
- in leveraging existing CPA knowledge skills and
abilities in relation to individual and business owning clients
- to increase competency in the PFP
discipline.
- in
building and managing ethical and economically successful financial planning
practices
--Provide leadership within the PFP profession with regards to competency,
ethics and innovation; and actively support the American Institute of CPA's
Personal Financial Specialist (PFS) specialty designation.
--Continuously improve the quality and delivery of the financial planning
information and services to the public.
--Help the media understand the unique traits that a CPA brings to the field
of personal financial planning.
--Provide support to the Society in legislative and regulatory matters
pertaining to personal financial planning and related practice, as well as the
promotion of the PFS designation.
Tactics:
--Provide networking opportunities for members to share knowledge and
insights of general practices related to financial planning. This involves
individuals with many years of PFP experience as well as those CPAs that are new
to PFP or have limited PFP experience.
--Provide cutting-edge seminars/workshops to increase CPA practitioners'
technical capabilities.
--Provide resources to assist with continuing education and licensing
requirements.
--Work with the accounting groups (e.g. AICPA and other State Societies) and
non- accounting groups (e.g. other PFP organizations, bankers and lawyers) to
understand developments in the personal financial planning environment.
--Prepare a regular PFP column for the CPA Journal
--Identify newsworthy issues to the NYSSCPA's public relations staff and
serve as a resource to them for PFP related matters.
Committee meetings are held approximately 9 times during
the year. At these meetings, members exchange ideas about current personal
financial planning (PFP) issues that they are facing. Some of these issues have
been of a technical nature and some have been concerned with licensing and
ethical matters. Members, volunteering as liaisons, are in contact with their
colleagues in the other State Society and at the AICPA and exchange information
with these organizations.
Members of the committee have been asked to speak at various chapter
activities. Members are also called upon by the Press to provide comments about
related PFP topics. Each committee meeting is available by telephone and
includes web site access enabling offsite participant to fully interact with the
meeting.
Most committee meeting conclude with an hour of CPE. The CPE will include
topics related to all areas of financial planning.
Who Should Join:
CPAs who provide PFP services to their clients should consider joining this
committee because they can keep up with current developments in the field and
learn how their colleagues treat certain matters. Also, CPAs who are considering
developing a PFP practice and/or an investment advisory practice should consider
joining this committee so that they can meet others whom have experienced these
issues before.
Being a member of the PFP committee provides a
professional with a forum to exchange ideas and learn more about this topic. It
is an impressive credential to mention to a client. There is an opportunity for
exposure to the public through written articles, speaking at conferences and
press interviews.