10th Annual FPA Miami Symposium
10th Annual Symposium
Tuesday, September 1st, 2015
University of Miami BankUnited Center, 1245 Dauer Drive, Coral Gables, Florida
AGENDA
8:00 – 8:30 AM – REGISTRATION, CONTINENTAL BREAKFAST AND NETWORKING WITH SPONSORS
8:30 – 8:45 AM – WELCOME AND INTRODUCTIONS
8:45 – 9:35 AM – WHEN ASSET PROTECTION PLANNING, ESTATE PLANNING & INCOME TAX PLANNING INTERSECT – THE BIG COLLISION OF PLANNING OPPORTUNITIES & PITFALLS
JONATHAN E. GOPMAN, ESQ. - Chair, Trusts, & Estates Practice; Akerman LLP
Smart asset protection planning not only involves planning ahead at the right time and doing so in a responsible manner, it also takes advantage of high quality estate and income tax planning opportunities. Many asset protection strategies enable a client to move a significant wealth out of the client's estate, gift and generation-skipping tax base, and in numerous situations can also significantly reduce a client's annual income tax liability. This session will explore how to identify and advise a client regarding such planning opportunities, and assist a client in implementing such strategies.
9:35 – 10:35 AM – HELPING IRRATIONAL CLIENTS MAKE RATIONAL DECISIONS
HAROLD EVENSKY, CFP®, AIF - Chairman; Evensky & Katz
This session will examine the issues investors face as a result of behavioral biases, and provide suggestions for advisors in managing these biases to insure better decision making on the part of their clients. You will learn about what clients want from a financial planning perspective, and how behavioral finance can assist. We will discuss: traditional economic theory vs. the behavioral investor; the risk of heuristics; mental accounting; implications for advisors; framing & strategies for modifying client behavior; managing expectations; risk tolerance; financial theory education; anchoring on the efficient frontier; cash flow reserve strategy; and client communications.
10:35 – 10:55 AM – BREAK AND NETWORKING WITH SPONSORS
10:55 – 11:55 AM – CIO ROUNDTABLE – CURRENT THOUGHTS ON PORTFOLIO CONSTRUCTION AND MANAGEMENT – “LOW INTEREST RATES, HIGH STOCK VALUATIONS, AND GOVERNMENT INTERVENTION, OH MY!”
SHAYAN HUSSAIN, CFA - Director, Senior Fixed Income Market Strategist; BlackRock
LANE M. JONES, CFA, CFP® - Chief Investment Officer & Principal; Evensky & Katz/Foldes Financial Wealth Mgmt.
PETER W. LOWDEN, CFA - Chief Investment Officer; The Enrichment Group
DAVID W. RODA, CFA - Regional Chief Investment Officer (Southeast); Wells Fargo Bank, N.A.
Our esteemed panel of CIOs will discuss their current thoughts on how they and their firms are constructing portfolios in the current market environment. The panel will highlight current best practices in investment management, and will discuss their approach to developing an asset class framework that positions their clients’ investments for a more durable future.
12:00 – 1:15 PM – LUNCHEON AND NETWORKING WITH SPONSORS
1:15 – 2:15 PM – SEEKING BEST PRACTICES TO UNLOCK RETIREMENT INCOME
WADE D. PFAU, PH.D., CFA - Professor; The American College and Principal/Director; McLean Asset Management
As the baby boomers reach retirement, advisors must solve new problems for clients. Retirement income is different as clients shift their focus from maximizing wealth to creating sustainable income, clients face a greater range of risks, and clients increasingly must solve a complex lifetime financial problem. Key retirement risks include longevity risk, market and the newly emergent sequence of returns risk, and personal spending shock risks. Each risk requires different income tools and risk management techniques. Two distinct schools of thought have emerged within the retirement income world: probability-based approaches and safety-first approaches. There have also been efforts to create financial products that combine aspects of each approach into one package. However, high fees for such product can make it very difficult for them to compete with strategies combining multiple low-cost tools. For instance, a low-cost variable annuity without guarantees allows for tax deferral and provides a strong opportunity to match the guaranteed payments offered by a variable annuity with income riders. This presentation considers how different retirement income tools can be combined to build more efficient retirement strategies.
2:15 – 3:15 PM – THE PRACTITIONER'S GUIDE TO SOCIAL SECURITY DECISIONS
DAN MOISAND, CFP® - Principal; Moisand Fitzgerald Tamayo, LLC
By far the most frequently asked questions Dan Moisand answers for the public in his Q&A columns center on Social Security rules. With over 2,700 rules, it is no wonder the public is confused. Knowing the rules is important, of course, but delving into that morass should come after addressing the bigger strategic issues. Join Dan for a rapid fire look at Social Security claiming issues from the perspective of a practicing financial planner.
3:15 – 3:35 PM – BREAK AND NETWORKING WITH SPONSORS
3:35 – 4:25 PM – ELITE ENGAGEMENT: BUILDING ON A STRONG FOUNDATION
SUZETTE ROTHBERG, CFP® - Senior Vice President; American Funds
Trust and confidence play a vital role in an investor’s willingness to communicate his or her financial goals and fears with advisors. These qualities also greatly impact the level of commitment an individual will invest in a financial plan. Developing lasting bonds of trust with investors is crucial for effective advisor-client communication and helping clients achieve better investment outcomes. Financial advisors with a purposeful client-engagement strategy often have the most mutually beneficial relationships. By the end of the session, attendees will understand: How certain key attributes common among elite financial advisors can result in stronger client trust and lead to more effective advisor-client communication; The building blocks of a more purposeful client engagement strategy; Why an investment selection methodology driven by client objectives can be a key determinant in helping clients reach their goals; and How to choose investment options that can help strengthen client trust.
4:25 – 5:15 PM – FAMILY OFFICES: ULTRA-WEALTHY & BILLIONAIRE INVESTMENTS, TRENDS AND BENCHMARKS
RICHARD C. WILSON - CEO; Billionaire Family Office & Founder; Family Office Club
This session will discuss family office industry fundamentals, trends, why the industry exists and continues to grow, and what it means to wealth management in a holistic fashion. Richard Wilson will also discuss billionaire investment trends and single family office best practices and pitfalls, and the family office industry benchmark study conducted by the Family Office Club association this past year.
5:15 – 5:30 PM – RAFFLES AND WRAP UP
