FPA of MN Newsletter – November 2017

Back to Archive

Another Great Symposium...

Submitted by Rachel Infante, CFP® - Director, Symposium Committee

Symposium 2017 was a huge success!! Again, with over 600 attendees, we have marked ourselves as one of the largest FPA conferences in the nation. This year, we welcomed some of the nation's top speakers including Mary Beth Franklin who provided expert advice on Social Security claiming strategies under new law. Also Dr. David Kelly joined us for his 13th year to discuss his economic viewpoints. And we can't forget about Bob Keebler who delivers essential information on income tax strategies. We expanded our breakout tracks to include more specialty topics that cater to a wide varieties of interests.

All in all, there was something gained for every attendee whether you were a brand new advisor, a well experienced advisor, or in more of a support role. An added bonus - It's always great watching people meet new colleagues who can share ideas and/or offer friendship or mentorship.

A big thank you to our FPA partners that help year after year to make Symposium even possible. We hear nothing but great things from our attendees on how much helpful information is gained just by visiting our partner booths.

We look forward to planning Symposium year after year and making it an even stronger interactive experience for those that attend. A huge round of applause for those that are part of this planning process.

We look forward to seeing all of you for next year's Symposium on October 8th and 9th!

Big Thank You to all the Symposium Buddies

Thank you from the Career Development Committee to all the Symposium Buddies:
Nick Andresen
Laura Pechacek
Ben Wacek
Steve Gilbertson
Tiffany Walker
Amber Miller
Sara Kantor

Join the Cybersecurity Working Group and Tackle the Cyberthreats to Your Business

As thefts go, a cyberattack is not an easy thing to grasp. It doesn’t have much in common with the crimes we see on TV. No masked men, no get away cars. Instead it happens with a constant barrage of new malware strains, exploited software flaws and phishing scams. How can a business owner begin to even know where to start to contain a threat that they can’t fully comprehend?

The fact is, every business owner’s biggest cybersecurity threat is right down the hall. At this very moment, it is discussing the newest show on Netflix with the firm’s second biggest cybersecurity threat. Research shows that nearly two-thirds of successful cybersecurity attacks were the result of employee carelessness. The SEC, FINRA and the State Regulators know this and that is why they are expecting you to have the policies and procedures in place to control this threat. These are exactly the type cybersecurity issues that are going to be tackled by the Cybersecurity Working Group being formed by the Professional Issues Committee. The Cybersecurity Working Group intends to focus on everything participants need to do to protect client information and meet regulatory cybersecurity requirements.

9 Ways Employees Compromise Their Company’s Cybersecurity

  1. Stolen Laptops and smartphones.
    The theft of unguarded mobile devices has been the source of numerous data thefts. Do you have a mobile device policy that requires your employees to encrypt their devices and use software to mitigate data lost due to a theft?
  2. Password sharing and Weak passwords
    Every firm needs policies covering passwords that prohibit easily guessed passwords and the use of the same password by multiple employees.
  3. Physical security carelessness
    You paid good money to put your server and hard copy files under lock and key. It doesn’t matter though if your employees are leaving these items unlocked.
  4. Fall for phishing scams
    You need an email policy and a data sharing system that negates the clicking on attachments.
  5. Infected by Social media
    Social media is a time suck and a hotbed for malware posing as amusing videos and advertisements. You need an internet policy to stop this headache.
  6. Not updating software
    Every employee computer should be set up to update automatically. You need a software patch policy and procedures to make sure it stays that way.
  7. Not encrypting sensitive information
    It’s hard to believe, but there are still people out there emailing unencrypted statements and forms back and forth with clients.
  8. Storing sensitive data on personal drives.
    It may be a matter of convenience that is all too convenient for hackers.
  9. Not following security protocols.
    The policies may be in place, but they conflict with the way the office has operated forever. Do your employees even know these policies exist? You need an employee training program to change employee behavior and improve cybersecurity effectiveness.

In the coming months, the Cybersecurity Working Group will be discussing what advisors need for cybersecurity policies that effectively control mobile devices, passwords, emails, software updates and employee training to combat such problems. The group is planning to meet once a month to learn about and discuss one specific aspect of cybersecurity and to provide input on the cybersecurity issues that other participants are encountering. There will be seasoned compliance experts participating to provide guidance and insight. Contact Brian Edstrom at bedstrom@avisenlegal.com if you want to start getting your cybersecurity measures up to date.

Take the FPA Policy Survey Today

Ever wonder how your association makes decisions on policy? We don't do it without asking you first. This is your opportunity to let FPA know what you think about policy issues affecting your profession. Please consider helping out with just four minutes of your time. The FPA Policy & Advocacy Survey on 2018 Legislative Issues closes Monday, November 6th.

Registration is now open for the 2018 FPA Annual Retreat!

If you have never attended the FPA Annual Retreat, you have missed out on one of the most inspiring, energizing experiences available for the financial planning community. The event brings together thought leaders and practitioners of all backgrounds to engage in lively discussion, networking and insightful learning that helps financial planners excel. 2018 FPA Annual Retreat will be held at The Wigwam outside of Phoenix, Arizona April 23-26.
Register today to take advantage of the special early bird registration!

FPA and TD Ameritrade Institutional enter a new strategic relationship to support FPA members

With an eye toward helping financial planners build stronger businesses and better serve the needs of their clients, FPA and TD Ameritrade Institutional have entered a new strategic relationship to distribute thought leadership content to CFP® professional members of FPA. TD Ameritrade Institutional content and subject matter experts will augment the educational offerings provided to FPA members at in-person conferences and through FPA's virtual learning platform and communities. Learn about the new relationship now!

Would you like to give back to those serving in the military?

As a provider in the network of financial professionals working for Zeiders Enterprises, Inc. you can do just that. You can share your knowledge with those who are currently serving in the military in all areas of personal finance. As part of the team of providers you may work assignments that fit your current career; whether that is the occasional weekend event to longer term assignments lasting a year or longer. Go to zeiders.com and browse open Certified Personal Financial Counselor openings.

Meet The New CFP® Director at MSU, Mankato

Minnesota State University, Mankato is excited to announce that Dan Hiebert, CFP® has been appointed the new CFP® Program Director. Dan brings with him more than 20 years experience in the financial services industry as an educator, practitioner, leader and consultant. He joins a team of professionals that is committed to providing practitioners the financial education and credentials they need to meet the needs of their clients in this ever-changing environment. In addition to leading the CFP® program, he also is a professor of finance and leads the undergraduate financial planning program.

Located at the Twin Cities campus at 7700 France Avenue in Edina, Minnesota State Mankato is a leader in providing financial planning education for students earning their CFP® designation. This is delivered by instructors who are not only great educators, but also practitioners in the real-world. Students taking financial planning courses with us report exceptional feedback with their experience and go on to achieve higher pass rates on the CFP Board exam than the national average.

Learn more about the CFP program.

Fast track your career! Join the FPA Activate community on Facebook.

The all-new FPA Activate community on Facebook is a page for new financial planning practitioners and those who want to help support the next generation of professionals. This is the go-to community for financial planners who want to fast track their careers and develop their planning skills. Take part in vibrant discussions, seek guidance and advice from your peers, and get up to speed on the many ways the association is supporting young members and career changers. Be a part of FPA Activate today!

FPA Member-Get-a-Member Program

As an incentive to recruit new members, the Member-Get-a-Member dues reward is doubled through the remainder of 2017! For every member you recruit, you save up to $50 on your membership dues. And the person you refer saves too! Refer your colleagues now.

Pius $30 from FPA of Minnesota for a total of $80!
Member-Get-A-Member Referral Form