Financial Planning Association of Tampa Bay

01/14/2023

Think Advisor follows the trends in implementing financial plans.

Mike Downing says that contract sales have been great, and that investors are ready to buy more.

12/22/2022

"The Fed is singularly focused on reducing the rate of inflation. As a result, the Federal Reserve will raise interest rates higher than previously thought and plan to keep them higher for a longer period to prevent inflation from becoming entrenched in the economy." More about the Fed's plan here.

Click to see "On the Radar," City National Rochdale's investment forecast and FAQs on the markets and economy.

12/12/2022

Starting on January 1, 2023, several more jurisdictions will begin implementing the IAR CE requirement. IARs registered in any of these ten jurisdictions will be subject to the rule next year:

Arkansas
Kentucky
Maryland
Michigan
Mississippi
Oklahoma
South Carolina
Vermont
Washington, D.C.
Wisconsin
Note: Nevada and Rhode Island have informed NASAA that they plan to adopt the requirement in 2022 but haven’t finalized adoption at the time of writing. To stay updated on state adoption, visit the NASAA Member Adoption webpage.

12/07/2022

In its most recent announcement about ESG investing, Vanguard Group Inc. is walking out of the world’s largest climate-finance alliance, marking the coalition’s biggest defection to date as many investors/advisors step up their threats against firms deemed hostile toward the fossil-fuel industry. Following Florida Gov. Ron DeSantis ban on the state’s pension funds from considering so-called environmental, social and governance standards — known as “ESG” — when making investments for retirees.

DeSantis, who has frequently blasted businesses for engaging in “woke” politics, is chairman of Florida’s three-member State Board of Administration and had personally backed a resolution imposing the ban that was passed on Tuesday.

The resolution directs fund managers to instead invest state resources in a way that “prioritizes the highest return on investment” without considering what DeSantis described as the “ideological agenda” of ESG guidelines. .

Florida’s resolution directs state fund manages to prioritize “the highest return on investment.”

12/07/2022

The full Senate late Tuesday passed S. 3198, the Registered Index-Linked Annuities Act, which directs the Securities and Exchange Commission to develop a registration form designed for RILA products within 18 months after enactment of the act.

The bill would direct the SEC to create a new registration form to replace the largely inapplicable forms currently used.

12/05/2022

The student chapter of the Personal Financial Planning baccalaureate degree program is supported by the FPA of Tampa Bay.

Happy holidays from the University of South Florida Muma College of Business - where we believe in the magic of the season!

12/05/2022

Becoming familiar with FPA of Florida:
FPA of Florida Council

The Financial Planning Association of Florida is a state council of the Financial Planning Association. In the state of Florida, there are eight (8) chapters to serve our members. These chapters serve multiple metropolitan areas. See the list below to find a chapter near you.

FPA of the Gulf States - Serving the Panhandle area as well as Tallahassee
FPA of Northeast Florida - Serving the greater Jacksonville area
FPA of Central Florida - Serving the greater Orlando area as well as Melbourne and surrounding areas
FPA of Tampa Bay - Serving the greater Tampa/St. Petersburg/Clearwater areas : five county area.
FPA of the Suncoast - Serving the greater Sarasota/Bradenton areas
FPA of Southwest Florida - Serving the greater Fort Myers/Naples/Bonita Springs areas
FPA of South Florida - Serving the greater West Palm Beach/Boca Raton/Fort Lauderdale areas
FPA Miami - Serving the greater Miami area as well as the Keys

12/05/2022

FPA of Florida Game Night Champion Emerges
Close Game for Battle of the Planners
FPA of Florida's first virtual Game Night took place on Tuesday, November 29th with three rounds of heated trivia play that turned into a true Battle of the Planners.

The night included players from every chapter in Florida, some seasoned and some green. But in the end, three members rose to the top of the leader board.

Out of the 15 total points players could earn, the top player finished with 11 points. Here are the winners:

2022 Game Night Champion
Tom Patricca, CFP®
SW Florida Chapter

Second Place
Jon Wax, CFP®
Tampa Bay Chapter

Third Place
Justin Horowitz, Allied Member
Central Florida Chapter

Game Night Chapter
Tampa Bay

Trivia questions were collected from chapter leaders over the last several months and the game featured video appearances from FPA CEO Patrick Mahoney; FPA of Florida President Kim Chavers; and industry icon Michael Kitces!

The question that stumped all the players was:
Q) The difference between beta and standard deviation is...
A)
Variability of returns and volatility of returns in diversified portfolios
Variability of returns about the mean in a diversified portfolio and volatility of returns in a non-diversified portfolio
Volatility of returns in a diversified portfolio and variability of returns in a non-diversified portfolio
How the fund performs relative to an index and the spread of the returns
The likely return performance in a diversified portfolio and the swings in the price movement relative to an index

The evening included remarks by Game Night sponsors: Ken Venick with Apex Home Loans and Jim Blakeslee with MaxWealth Management.

President Chavers said she "loved EVERY SINGLE part of it!!!" and that some of the questions "were a complete surprise for me."

Congratulations to the winners who will be reimbursed all or a portion of their FPA dues in 2023. Tampa Bay chapter will also be gifted $250 for having the highest player attendance and combined point total.

Of course the big winners will be the families affected by Hurricanes Ian and Nicole, who will see an infusion of help from Game Night proceeds to the United Way of Florida's Disaster Recovery Fund!

12/02/2022

Virtual Forum with FPA members and
CFP Boards Commission on Sanctions and Fitness is reviewing and recommending changes to CFP Board’s Sanction Guidelines and Fitness Standards. These documents address the consequences of failing to comply with CFP Board’s Code of Ethics and Standards of Conduct. The Fitness Standards apply to those seeking CFP® certification, while the Sanction Guidelines apply to those who are certified.

During the webinar, CFP Board’s General Counsel, Leo Rydzewski, JD, CAE, and Assistant General Counsel, Jonathan Black, JD, will share an overview of the Sanction Guidelines and Fitness Standards and solicit audience feedback and input. Input from the audience will be shared with the Commission members as they finalize their work reviewing and recommending changes to these important documents.

CFP Board will issue the proposed revisions to the Sanction Guidelines and Fitness Standards for one or more rounds of public comment before final revisions are adopted.

We value your input and hope you will attend the forum.
Time
Dec 9, 2022 03:00 PM in Eastern Time (US and Canada)

11/14/2022

Good reading ...

I have a very, very good inflation hedge in my human capital, David Blanchett said.

11/09/2022

Nute said in a phone interview Monday about his CFP certification being revoked. “I’m not guilty of hurting any client. All I’m guilty of is trying to defend myself against a board who seems to think that they have the right to change their position at any point for somebody who’s arguing with them.”
One of the key issues is whether or to what extent the CFP Board is even obligated to fully follow due process and apply fair procedures to its CFP certificants, given that it is ultimately a private organization overseeing the use of its own trademarked designation. In the Camarda case, Judge Leon’s view was that the CFP Board is not actually accountable to being “fair” and giving due process in its disciplinary proceedings in the first place!

“Wow, this was a wild ride,” said Michael Kitces about David R. Nute, who told his prospective client that her reactions tell me why your husband left you.”

10/25/2022