It’s not hard to envision Gen X advisors finally achieving things that many of us hoped would happen a decade or more ago. To read the full article in Financial Planning, click: How I Stopped Worrying and Learned to Love the Next-Gen Takeover. ...

The rise in firm discontinuances and sales brings with it a host of practitioner concerns regarding independence, confidentiality, and the transfer of client files.  To address these concerns and provide specific guidance, the Professional Ethics Executive Committee issued two new interpretations of the AICPA Code of Professional Conduct (the Code) and revised an existing interpretation.  April Sherman, man ...

One Way to Address Succession Issues With leaders from the baby-boom generation retiring, the CPA profession is looking for new leaders to step forward.  This has increased the urgency around retaining and developing women in leadership positions in the profession.  Ken Tysiac, JofA editorial director, reports. To read the full article in the Journal of Accountancy, click: Succession Issues Likely to Fuel U ...

Why Clients Need to Discuss End-of-Life Care Baby boomers are at the forefront of the conversation around end-of-life planning, which should include discussing end-of-life treatments with family members and physicians, and designating health care proxies.  Elizabeth O’Brien, retirement reporter, also suggests reviewing elder planning tools and resources, which includes a free consumer End of Life Guide. To ...

Advising Your Business-Owner Clients on Transitions As baby boomer entrepreneurs move toward retirement, their advisers should ask a series of questions about their financial and emotional states to help them plan their exit strategies.  Patricia M. Annino, JD, suggests, among other things, advisers should ask about how quickly clients want to sell, how the sale will affect their families, and whether they ...

By Understanding Entrepreneurial Business Owners Better An estimated seven million baby-boomer business owners will exit their companies over the next 20 years. How can valuation advisors assist these entrepreneurs’ transition? When you are ready to exit from your own company, how can you transition most successfully for both your maximum financial outcome, as well as your personal satisfaction? In this art ...