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by Igor Tiguy, CFP®, AIF®, MSPFP, Director, Planning Services
Recently, on a quintessential New England fall weekend, Boston welcomed over two thousand personal financial planners from all over the United States and nineteen countries. The Financial Planning Association’s annual conference, held at the Boston Convention and Exhibition Center, was — once again – the largest annual gathering of Certified Financial Planners.
I was excited to attend the event, knowing that I’d get a chance to connect, learn from, and share ideas with fellow CFP®s from all over the world. I was also looking forward to hearing from the keynote speakers – 1980 U.S. men’s hockey team gold medalist Jim Craig and preeminent futurist Dr. Michio Kaku. The conference had a number of great sponsors, and I was especially interested in chatting with alternative investments managers and technology solutions providers.
The weekend began with the presentation of our colors and Jim Craig sharing “Gold Medal Strategies” and lessons from the Miracle on Ice team. Jim reminded the financial planning community to always be mindful of its role, “helping clients reach their financial goals and dreams.” He recommended us to always be learning and improving, and to never get “comfortable”. His final piece of advice centered on building a firm with a great culture and family atmosphere, capable of working with multiple generations of the client’s family.
Over the next 2.5 days, I attended a number of compelling and thought-provoking educational sessions. A few highlights follow:
The conference concluded with a view into the future, as Dr. Kaku described the coming technological and science advancements – and the ways they will impact our lives. He elaborated on the fact that science has contributed to the previous three “revolutions” which have led to tremendous global wealth creation (industrial – steam engine, the invention of electricity, and computers), and predicted that the next revolution will be spurred on by advancements in nanotechnology and biotechnology. If Dr. Kaku is right, there are two main implications – when investing, overweight science and technology and prepare to live to well over 100. Most financial planners working with clients on budgeting for retirement living expenses don’t plan for such prolonged lifecycles – but maybe they should. The timing of those decisions are obviously subject to sector valuations and each individual’s life expectancy. Dr. Kaku also touched on the trend of digitalization of financial planning and investing, saying that “Robo-Advisors will not eliminate financial planners”, but instead be a tool that is used by planners to deliver better and more efficient services to their clients.
The conference was a success – and I’m very thankful to fellow Financial Planning Association Massachusetts Chapter members for planning and organizing this great event!
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