AICPA AND TEXAS TECH PARTNER ON PFS TRAININGThe American Institute of CPAs and Texas Tech University's Division of Personal Financial Planning have teamed up to offer a new educational program for gaining the AICPA's Personal Financial Specialist credential.

The program, known as PFS Pathway, will debut in June 2009. The program is designed for CPA planners who want to earn a financial planning credential.

Before the 2009 rollout, the AICPA and Texas Tech plan to conduct a pilot program on Nov. 10-14, 2008, at the AICPA offices in Dallas. The five-day program will include a four-day financial planning case study and an eight-hour multiple-choice exam with approximately 200 questions. The content will include estate planning, employee benefits, investment planning, financial independence and income tax planning.

Participants will receive approximately 32 continuing professional education credits.

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Some 96 percent of financial planners responding to a recent surveyed indicated that they were satisfied with their career choice.

According to the 2008 Survey of Trends in the Financial Planning Industry from the College for Financial Planning, nearly 100 percent responded that they were satisfied or very satisfied with planning as their chosen profession.

According to the survey, planners with less than a year of service had mean gross earnings of $96,638, while those with 20 to 29 years of service earned $469,224. Also, planners reported multiple affiliations, with 77 percent having a financial planning affiliation, 46 percent an investment planning affiliation, 35 percent a securities affiliation, and 30 percent an affiliation with the insurance industry.


The Securities and Exchange Commission and the Department of Labor have agreed to make permanent their ongoing strategy of sharing information on retirement and investments to protect the $5.8 trillion in retirement assets of American workers, retirees and their families held in employee benefit plans.

Both agencies will designate points of contact in their regional offices to facilitate communication among staff on enforcement and examination matters.


ExpertPlan, a record-keeper of retirement plans, has teamed with Morningstar Investment Services to launch ExpertNvest, a product for both plan sponsors and financial advisors that provides independent investment management as well as fiduciary relief for 401(k) programs.

Under the agreement, Morningstar Investment Services will assume co-fiduciary status for both the investment funds selected and maintained in the plan and the investment management of participant accounts. It will also screen low-cost mutual funds, as well as providing ongoing monitoring and fund replacement services.

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Financial Crossing, a provider of financial liability management products and services, has launched its Independent Advisor Program, a turnkey package that enables financial advisors to function as personal liability managers, providing mortgage and liability analysis, planning, monitoring and execution.

The program is comprised of:

* Mortgage and liability analysis, planning, monitoring and execution capability;

* Execution and origination of loans and financial plans in all 50 states through an integrated partnership with Citizens Community Bank; and, A Mortgage fulfillment services.

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