No advisor can be an expert in every area of financial planning—but every advisor is expected to recognize when specialized expertise is needed. Today's clients increasingly require coordinated advice across tax planning, estate planning, insurance, long-term care, special needs planning, business succession, and other specialized disciplines. As a result, many CFP® professionals find themselves working as part of a team of attorneys, accountants, insurance specialists, and other professionals. Yet many advisors remain unclear about where their responsibilities begin, where they end, and what CFP Board expects when multiple professionals are involved in serving the same client.
This session explores the ethical and practical realities of delivering comprehensive financial planning through professional partnerships. Drawing on CFP Board's guidance regarding CFP® professionals working as part of a team, the discussion will examine how FIDUCIARY obligations extend beyond investment management and continue throughout the process of coordinating advice, allocating responsibilities, communicating with other professionals, and helping ensure clients receive the services they need. The program will also examine CFP Board Code and Standards Section A.13, including the responsibilities associated with recommending, engaging, and working with additional persons on behalf of clients. Attendees will gain practical guidance on evaluating professional partners, disclosing compensation arrangements, documenting responsibilities, exercising reasonable care after a referral, and addressing situations where another professional may not be fulfilling their assigned role.
Through a panel discussion featuring specialists from multiple planning disciplines, attendees will learn where clients most commonly experience planning gaps, how those gaps can affect outcomes, and what partnership models successful advisors use to deliver a more comprehensive planning experience.
As a Director of Insurance Solutions specializing in serving RIAs at The Pinnacle Group, Kevin utilizes his 33 years of experience to support the advanced planning needs in the areas of life insurance, estate preservation, supplemental retirement planning and business planning strategies.
Alan Gassman is a Board Certified Trust and Estates lawyer. Alan focuses on the representation of high net worth families, physicians and business owners in estate planning, taxation and asset structuring. Alan was inducted into the Estate Planning Hall of Fame of National Association of Estate Planners and Council in 2021, earned his Accredited Estate Planner Designation and was listed in Best Lawyers in America®.