AICPA RELEASES ADVISOR GUIDEThe American Institute of CPAs and Fiduciary360 have published the U.S. edition of a handbook for investment advisors. Prudent Practices for Investment Advisors identifies 23 practices for advisors to follow. The book helps them manage risk by providing a recommended “checklist” for carrying out investment decisions with prudence and due diligence. The book was reviewed and edited by the Fiduciary Task Force of the AICPA Personal Financial Planning Executive Committee.
Investment practitioners can use the handbook to enhance their fiduciary practices and procedures. The handbook is intended for financial advisors, broker-consultants, investment consultants, wealth managers, financial consultants, trust officers and financial planners, as well as CPAs. The handbook sells for $25 and is available from www.fi360.com.
CALIFORNIA SOCIETY LAUNCHES FINANCIAL LEADERSHIP FORUM
The California Society of CPAs and the California CPA Education Foundation have launched a Financial Leadership Forum to provide education, training and other resources to CPAs and business and finance executives. The forum will offer advanced training in finance and business management, professional peer networking and thought leadership. Professional peer networking opportunities will include forums, CFO of the Year events, and local breakfast roundtables. For more information, visit www.calcpa.org/forum.
GENWORTH BOLSTERS LTCI
Genworth Financial Inc. has bolstered its Cornerstone Advantage long-term-care insurance product, in an upgrade that includes the addition of two optional riders. The Enhanced Assisted Living Facility Care Rider adds coverage for room and board expenses when receiving care in an assisted living facility. With the purchase, consumers are covered in an assisted living facility to the same extent that they would be covered in a nursing home.
The new Facility and Home Care Waiver of Premium Rider provides an additional opportunity to waive premiums while receiving benefits in an assisted living facility or at home. The Cornerstone Advantage product was launched in April, and is now available in some 35 states.
AMERITRADE ACQUIRES UNIT
TD Ameritrade Holding Corp. has closed its purchase of Fiserv’s Investment Support Services business for approximately $225 million in cash. The acquisition adds approximately $25 billion in client assets to Ameritrade, including $15 billion held in more than 75,000 accounts managed by approximately 500 independent registered investment advisors, and $10 billion held in more than 2,000 plans administered by 80 independent third-party administrators.
SUNTRUST PARTNERS WITH CFP
SunTrust Banks has teamed with the College for Financial Planning in an effort to allow SunTrust Investment Services staff members to obtain the CFP’s Chartered Retirement Planning Counselor or CRPC designation. There are 109 SunTrust advisors currently enrolled in the program.
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