NOVEMBER 2023: Serving a Diverse Industry
COVER STORY
Independence Enabled: Planning for Special Needs
By Alexandria Nadworny, CFP®, CTFA, and John W. Nadworny, CFP®
Clients whose financial planning includes a child with disabilities may need help incorporating ABLE accounts, special needs trusts—or both.
PRACTICE MANAGEMENT
Draft a Blueprint to Chart Your Course Through Business with Focus and Intention
By Gerry Herbison, D.B.A., CFP®, ChFC, CASL, CLF
In order to stay on track with your values and purpose, it’s vital that you think through each step and map out your vision.
EMPOWERING WOMEN
How Financial Planners Can Help Female Clients Build Financial Independence
By Lindsey McKay, CFP®
Women experience different cultural norms than men that may impact how they perceive financial decision-making.
FPA NEXT GENERATION PLANNER
Lead Article
Helping Clients with Hearing Loss
By Cary Tucker, CFP®
Featured Article
Health and Care for LGBTQ+ Clients
By Frank Summers, CFP®, ADPA
Skill Builder
Mastering Emotional Client Conversations as a Financial Planner
By Jennifer Gray
Planner Poll
The FPA Community Weighs in on What They Value at Their Workplace
Planning a STUDY GROUP? Check out suggested questions and other resources to make your study group a success!
COLUMNS
Succession Planning
The Succession Dance: Equity and Management Transitions
By David DeVoe
Firm owners should begin choreographing their exit long before they are ready.
Longevity
Race, Gender, Wealth, and the Barriers to Successful Longevity
By Chris Heye, Ph.D.
Planners can help their clients enjoy longer lifespans by addressing social obstacles.
Insurance Planning
Couples and Insurance: Communicating About Mortality, Longevity, and Long-Term Care Risks
By HanNa Lim, Ph.D., CFP®, and Megan McCoy, Ph.D., LMFT, AFC, CFT-I
Differing desires and power dynamics in a couple can leave one partner with unmet needs.
Adviser Well-Being
Adviser Well-Being: The Bigger Picture
By Julie Fortin, CFP®, FBS, CeFT, and Mary Martin, Ph.D.
Connecting with yourself and being in the moment will show clients that you truly care about them.
SPECIAL REPORT
Home Buying Tools
By Creyton Gardner and Randy Gardner, J.D., LL.M, CPA, CFP®, AEP (Distinguished)
Planners can provide immense value by helping clients evaluate the decision to rent or buy a home.
RESEARCH
Revisiting William Bengen’s ‘SAFEMAX’ Portfolio Withdrawal Rate
By Christopher M. Duquette, Ph.D.
The bond yields originally examined were based on newly purchased bonds and not bonds acquired years before. This is a crucial distinction that can affect the optimal withdrawal rate.
Earn one CFP CE® credit by reading this month's Journal and access past exams for additional credits.
DEPARTMENTS
STARTING THOUGHTS
Power of the Profession
By Danielle Andrus
OBSERVER
Financial Advisers for Black and Hispanic Americans, YouTube and Wealthy Clients, and Wealthy Tax Dodgers and the IRS
Stat Bank
JFP ACADEMICS
Upcoming Research
IN CASE YOU MISSED IT
Examining the Conventional Wisdom of Municipal Bond Investments and Use in Financial Planning
By Timothy M. Todd, Ph.D.; Stuart Heckman, Ph.D.; and Maurice MacDonald, Ph.D.
Municipal bonds are a specialized form of investment that offer exemption from taxation and are generally seen as a safe investment. This paper examines different groups’ investing habits in municipal bonds and why planners should recommend them.
