May 2008 Volume 7, Issue 5
Breaking News: AICPA/Moss Adams PFP Study Released
Now that students have received their college acceptance and financial aid letters, clients will be turning to CPAs for advice on education funding options. This issue examines how the credit crunch has affected college financing. It also highlights the AICPA/Moss Adams CPA Financial Planning Practice Study, a comprehensive examination of PFP practices. The PrimePlus/ElderCare News section includes information on credit problems facing seniors, the current state of reverse mortgages and a new source of information on troubled nursing homes.
In This Issue
Breaking News
News Briefs
PrimePlus/ElderCare News
AICPA News
Breaking News
AICPA/Moss Adams PFP Study Released
The AICPA Personal Financial Planning Section and Moss Adams have released a landmark joint study that examines CPA financial planning and advisory practices. The AICPA/Moss Adams CPA Financial Planning Practice Study offers insights into how successful planners are running their practices—and the challenges that they face. Learn More>>
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News Briefs
Tighter Credit for Loans
Credit has gotten tighter across the board, including among student loan sources. Borrowing may become more complicated and take more time as a result, according to a SmartMoney story. Learn More>>
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Loan Funding Perils
In some cases, even students who have already received funding may not be safe. A Boston Globe article tells the story of one student who found himself without the money he was counting on. Loans could become more expensive and harder to find, the article says. Learn More>>
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Home Equity Not Necessarily an Option
Consumers use home equity loans to pay for college tuition and a host of other big-ticket items. However, the credit crunch may limit that option, as well, according to a New York Times story. Lenders are becoming much more conservative about granting these loans and are placing unprecedented restrictions on their use. Learn More>>
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Credit Scores Have an Impact
How do clients’ credit score affect their chances of securing a student loan? A Bankrate article describes how the credit score is examined by a variety of different lenders. Learn More>>
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PrimePlus/ElderCare News
The Credit Crisis and Seniors
Many of those who refinance their mortgages are seniors, and those people are feeling the brunt of the nationwide credit crunch, according to an AARP.com story. Learn More>>
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Reverse Mortgages Revisited
Are reverse mortgages still a good idea? A Kiplinger article corrects some misconceptions and explains how they work. It also describes when they are a good choice for a client. Learn More>>
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Spotlight on Troubled Nursing Homes
The Centers for Medicaid & Medicare Services site now includes a list of nursing homes that have a history of poor performance or quality issues. Learn More>>
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AICPA News
Web Seminars for Members
PFP Web seminars allow PFP section Members and PFS credential holders to learn about timely topics and interact with their peers. Look for this upcoming seminar:
- June 17, “Investment Fiduciary Responsibility,” given by Clark Blackman from 1 to 2:30 ET.
The PFP Web seminar series is available for free to PFP Section members and PFS Credential holders. Watch for your e-mail invitation to these and other valuable Web seminars. Learn More>>
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Upcoming Conferences
Here’s information on gatherings in coming months of interest to CPA financial planners:
- AICPA Advanced Estate Planning Conference, July 28-30, Chicago. Learn More>>
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