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An important message from your

FPA of Michigan Board of Directors


As you may have already heard, NASAA (North American Securities Administrators Association) recently adopted a new rule requiring continuing education credits that may impact many of you. Their website states: "The program applies to all registered IARs of both state-registered and federal covered investment advisers in that jurisdiction," (NASAA). There are currently 12 states who have adopted or are planning on adopting this rule.  


12 CE's will be required each year, 6 CE credits of Products and Practices, and 6 CE credits of Ethics and Professional Responsibility. IARs will need to create an account with FinPro to report their CEs. IAR credits cannot be carried over to the next year. There will be a $3 reporting fee per credit hour.


Prometric must approve all IAR CE courses. If we as an organization were to want to provide these credits for our members, there is a $250 speaker fee approval and a $250 presentation approval fee, per presentation offering credit. This will be a huge challenge for our organization to overcome this expense. We have been in discussion with NASAA about the implementation of this rule and what we can do to work with Prometric to lower the approval fee. 


We will continue to have discussions and provide you with updates as they become available to us. For more information please review the FAQ page on the NASAA website.


We wanted to do our best to keep you informed of ongoing developments that may impact you, and to keep you informed of what we are trying to do to help you address the issues.


Upcoming Chapter Events

FPA MI | Take Aways from the 2022 Dimensional Global Advisory Study

November 29th | 1:30 pm to 2:30 pm | VIRTUAL


Join us for this special presentation when Stephen de Man, Regional Director and Vice President at Dimensional Fund Advisors, will review some of the takeaways from the 2022 Dimensional Global Advisor Study. The focus of the study is on growth, including and excluding market impact, and how advisors can leverage insights in their business. Dimensional conducts one of the largest benchmarking studies in the industry, giving you strategic insight into multiple areas of your business. Advanced registration required.


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FPA MI | Lunch & Learn Grand Rapids

2022 End of the Year Tax Update

December 5th | 11:30 am to 1:00 pm | CityFlats Hotel in Grand Rapids


Join us as our speaker Patrick Leikert, CPA, CFA® will discuss 2022 year-end tax planning for individuals, small businesses and their owners. Federal and State tax provisions will be presented and discussed along with the basics of estate tax and gifting.


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FPA MI | Michigan First-time Homebuyer Savings Accounts

December 6th | 11:30 am to 12:30 pm | Virtual


This program will feature details of the new law creating a tax incentivized savings vehicle for first-time home purchases in the state of Michigan.


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FPA MI | 2023 Student Success Summit

February 3rd | 10:00 am to 3:00 pm | Virtual


The purpose of this complimentary event is to bring together aspiring financial planning students across the country to network and broaden their knowledge about a career in financial planning. The Summit provides an opportunity for students to learn from thought leaders in the financial planning profession. The virtual event will offer sessions focused on topics outside of the traditional classroom topics. Some of our speakers include . . . Michael Kitces, Tyrone Ross, Brett Danko, Colin Overweg, and Justin Castelli . . . with more to come!


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The FPA of Michigan 2023 Symposium date has been set! Be sure to mark your calendar and look for more information to be available in the coming months!

 
 
 
 
 

FPA OF MICHIGAN

Give Back Program

 
 

The FPA of Michigan Give Back Program supports financial planning students as they seek to enter the profession and launch their careers. Help us by investing in our next generation of talent.

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FPA of Michigan

Email: info@fpami.com | Phone: 248-330-7757 | www.fpami.com



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