2014 Conference Program

Friday, August 15, 2014

8:30am to 10:10am

Liabilities-Side Gamma: The Next Frontier?

Speaker: Don St. Clair

The services of most financial planners typically extend well beyond our client’s investments. Yet the value of those services is most often evaluated relative to investment performance. Research demonstrates that clients who engage in a comprehensive approach have realized superior retirement outcomes. And recent studies have sought to measure the value added through financial planning in terms of an alpha equivalent –that is, the additional investment return required in order to achieve similar results were it not for the role of financial planning.Donwill explorethe sources of this added value, and introduce anew source of advisor addedalpha equivalent.

10:20am to 12:00pm

New Ideas in Retirement Income Planning

Speaker: Wade Pfau

As advisors are increasingly recognizing the need to treat retirement income planning as distinct from wealth maximization, a growing body of research is expanding our understanding of the problem. Advances in thisplanning include a growing use of the funded ratio concept, distribution management, and the use of “safe savings rates” to calibrate one’splan to retirement goals. Distribution management must move beyond a constant inflation-adjusted amount from their portfolios.Research has illustrated that for those who are willing to build flexibility into their plans to reduce spending if the markets perform poorly, it is possible to begin retirement with a higher withdrawal rate. Wadewill describe various rules which advisors can use to frame retirement income strategies with their clients.Hewill also look at research comparing planner-derived approaches against the”optimal” strategies from the academic world.

1:30pm to 3:10pm

It’s Not Personal? Really? Succession Planning

Speaker: Brandon Odell

Whether you are the Founder or the potential new Partner/Owner, there is nothing as emotionally and financially wrenchingas coming to terms with succession planning in your firm and setting the parameters of your own financial life for decades to come. Join in this interactive discussion with Brandon whose firm specializesinhelping our profession (without the potential conflict of taking an ownership position) through these turbulent negotiationsand discussions. He will cover topics such as Managing Expectations and Anxiety, Who Should be a Partner,Third PartyFinancing, and giving consideration to the fact that Timing is Everything.

4:20pm to 6:00pm

Integrating a Client’s Money Mindset into Their Financial Plan

Speaker: Michael Kay

Numbers are easy, they work or they don’t. Client’s behaviors are more complicated and will ultimately determine the success or failure of their plan. In order to build a financial plan that a client will own, use to effectuate change and have real meaning, an adviser needs to understand their money mindset. A person’s money mindset comes from their money history, their beliefs, behaviors and habits. The key to unlocking their mindset is through stories. Our session will explore a process for excavating those stories and how they can be employed to best help the client. For this interactive session, bring your most stubborn or nightmare client story to share. There might even be a prize. So come prepared to share a story and add to each other’s knowledge base.

Saturday, August 16, 2014

8:30am to 10:10am

Captive (Captivating) Insurance Strategies

Speaker: Timothy Barnthouse

Captive insurance company planning is one of the last bastions of tax planning available to business owners. They are a risk management tool for the business, providing the ability to transfer uninsured risk to a separate legal entity in a tax efficient manner. They effectively become a “rainy day” fund for risks that the business generally would not seek insurance for in the traditional market place.In addition to the risk management and income tax benefits, captives are an outstanding tool for estate planners to provide a wealth transfer mechanism to children and grandchildren in a gift tax-free manner

10:20am to 12:00pm

Portability –NoBrainer or Brain Surgery?

Speakers: Mark Prendergast & Ray Sheffield

Portability is the most significant estate planning provision in 2 or 3 generations. The Unlimited Marital Deduction was revolutionary in 1981. Portability is a Pandora’s Box, but it can also be a maze that needs to be negotiated. With a $5+ million exemption and portability, it seems that estate tax is irrelevant for the vast majority. But estate planning just got more dynamic and nuanced. The little used QTIP trust now becomes the default testamentary device and the Bypass Trust is secondary. We will explore the pros and cons, when to elect, when not to, how to create flexibility in the trust document, how it can be lost, and many other aspects.

1:30pm to 3:10pm

‘d Rather Die Than Talk to My Heirs About My Estate —Why good plans go bad, and what we can do about it

Speaker: Peter Johnson, Nancy Ross & Maureen O’Connell

What would you say if you knew you could add immeasurable value to your clients’ lives, and grow and sustain your practice, all while getting more joy and satisfaction from your work? Now, what would you say ifyou found out that you could get started quickly and easily with this? Find out how Collaborative Practice, which has been providing a robust and safe container for family conflict for 20 years, can help you achieve all of these almost-too-good-to-be-trueclaims. The best part? You don’t have to do it alone!

3:20pm to 5:00pm

Decision Architecture 101

Speakers:  Dave Yeske

In a world of instant communication,what can we pull from behavioral finance research and “decision architecture” (as in Thaler & Sunstein’sNudge) to provide tools to our clients to make sound financial decisions? This discussion is focused on assisting clients in developing compact decision rules that allow for rapid decision-making when needed and keeping them committed to a consistent course in a rapidly changing world. This latest refinement in policy-based financial planning enriches the concept, making it increasing useful to practitioners.

Sunday, August 16, 2015

8:30am to 10:10am

―Brave‖ New World in Which We Work

Speakers: Roberta Lee-Driscoll

As in the Disney movie, it may be a good time to restring thatbow and add to your stash of arrows. What you might take for granted, or don’t know, can hurt you. No “talking head” in this session, let Roberta leadyou through the forest of the required conduct and fiduciary responsibilities. She will help you keenly discern those data gathering targets.Using the magic of understanding behavioral characteristics and theirimpact on financial planning, she willassist you indevelopinga fruitful and enduring client relationship.

10:20am to 12:00pm

Wisdom in Our Midst

Various Speakers

This will be a free-wheeling session composed of a panel of Roundup participants answering questions that have been submitted by the other participants on any planning-related topic.

Join Us!

  • Far West Roundup 2024

    August 8 - 11, 2024

    UC Santa Cruz

Roundup Flyer

Coming soon!