Listen in as our esteemed thought leaders provide insights into the TPCP™ program, the impact it will have on improved client outcomes, and the influence it will have as you look to grow your career.

• Learn about the TPCP™ Program’s unique features and knowledge offerings with Professor of Practice Jeffrey Levine, CFP®, CPA/PFS, ChFC®, RICP®, CWS, AIF, BFA™.
• Visualize the student experience with input from our academic support staff.
   

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According to Scott, financial services wasn’t initially on his career radar: in addition to playing professional sports in both the National Football League and Canadian Football League, he was planning on attending medical school to become a neurosurgeon. However, the realities of trying to chase both these intensive paths were not ideal, and he found a new opportunity with several leadership roles in banking starting in 2013. This, he says, was a game-changer for his life journey.

“My eyes were opened to the science, patterns, and the evidence-based nature of financial and estate planning,” he said, also alluding to the “leap of faith” he took when launching his own financial services firm, Crossroads Capital Partners, in 2018. “It’s been an amazing, challenging, and overall astronomical ride.”

The Lifelong Learning Gameplan

When pursuing further education to power his growth in financial services, Scott says he chose The College and its programs because he wanted to go beyond the basics.

“I equate the CFP® certification and the Chartered Financial Consultant® (ChFC®) designation, both of which I hold, to the basic medical education every doctor gets: it’s important, but the training beyond them is where exponential value, knowledge, and service can be provided,” he said. “To be able to ask someone what financially hurts and then present those findings to talk through action items today to reach their outcomes of tomorrow has brought peace to me and the members of our firm. And it’s only possible with the foundation and education The College provides.”

“To be able to ask someone what financially hurts and then present those findings to talk through action items today to reach their outcomes of tomorrow has brought peace to me and the members of our firm. And it’s only possible with the foundation and education The College provides.”

In addition to recently completing his seventh College program, the Master of Science in Financial Planning (MSFP), Scott also serves as the alumni spokesperson for The College’s Wealth Management Certified Professional® (WMCP®) Program and is a member of The College’s NextGen Advisory Task Force along with the FinServe Network. He says he’s grateful to The College for providing a platform for busy professionals to continue to grow their knowledge and for emphasizing the role of an advisor as a partner in planning rather than a simple purveyor of products.

“For me, wealth enjoyment is everything,” he said. “I think people focus so hard on wealth accumulation; however, when you work with business owners, retirees, and multi-generational families, you realize it’s about can they receive the income desired from their investments and meet their desired legacy goals.”

Keys to Coordinated Legacy Planning

Many of Scott’s professional and educational endeavors have been tied to his love of legacy planning, including wealth transfer after death and impacts on children, grandchildren, and favored charitable causes. He says some key elements of effective legacy planning are bringing all involved parties into planning conversations and ensuring clients have the peace of mind that comes with knowing their current needs will continue to be met.

“If you spend time listening and hearing the wishes and concerns of people, you start to understand they would love to see the impact of their legacy planning with their own eyes,” he said. “It can be scary to talk about gifting or transferring assets, even for those with a net wealth of tens of millions of dollars. People just want to know that they’ll be okay, and our job is to help show them they are.”

“It can be scary to talk about gifting or transferring assets, even for those with a net wealth of tens of millions of dollars. People just want to know that they’ll be okay, and our job is to help show them they are.”

The legacy planning conversation also leads into Scott’s philosophy of “coordinated planning,” which he likens to the training football teams go through to ensure they work together as smoothly as possible.

“It goes beyond the integration of investments, insurance, and planning tools to the establishment of clarity in the eyes of our advisors and clients that their plan must be coordinated and on the same page; otherwise, the likelihood of success is drastically impacted,” he said. “Nothing in a financial plan can be built in a silo, and you need every financial player on your team running the exact same play, at the same time, in the desired way to ensure the best outcome.”

In the end, Scott says he still draws lessons from his days in football, pre-med education, and banking to be the best he can be for his team and his clients.

“I encourage everyone to start with this question: ‘Am I the advisor I would want to work with?’” he said. “You will never attain the practice you desire until you decide to become that yourself, and your answer to that question will tell you everything you need to know about how to create the planning practice of your dreams.”

More from The College

• Meet Our FinServe Network
• Meet the NextGen Advisory Task Force
• Listen to Padric’s Podcast on Coordinated Planning
• Learn About Our CFP® Certification Education Program
• Learn About Our Wealth Management Certified Professional® (WMCP®) Program
• Learn About Our Master of Science in Financial Planning (MSFP) Degree
• Learn About Our Chartered Financial Consultant® (ChFC®) Program
   

Duffy, an associate professor of business planning who also serves as director for the TPCP™ Program, joined FinServe Network ambassadors Terry Parham, Jr., CFP®, ChFC®, CLU®, RICP®, WMCP®, MSFP, Angie Ribuffo, CFP®, RICP®, ChFC®, CDFA®, CLTC®, WMCP® and Drew Gerling, MSFS, CFP®, ChFC®, CLU®, CAP®, FIC, RICP® for the conversation on tax planning. Duffy began by highlighting findings from The College’s 2024 Advisory Services Survey, which stated that out of nearly 400 professionals surveyed, over half used tax planning strategies in their work with clients.

When asked, the ambassadors enthusiastically backed up the results of the survey, testifying they also found themselves using elements of tax planning in their day to day in different capacities.

“Almost any person can benefit from lowering their tax bill, and if you’re not doing tax planning, you’re most likely leaving money on the table,” Parham said. “Clients I talk with every day are usually interested in understanding taxes, but the tax code is so long and complex it’s often daunting for them.”

Gerling agreed with Parham’s assessment. “Tax planning is the one thing all clients seem to share. It’s critical to have that skill set because it’s the foundational element entire plans are built upon,” he said.

Tax Planning Conversations With Clients

Duffy continued by asking the panelists how they bring tax planning into their advisory discussions. The ambassadors agreed that advisors who want to provide tax planning to clients need to look “beyond the hood of the car” and make plans for years down the road, rather than simply addressing the here and now as a CPA or other tax preparer might.

“Clients often feel taxes are an immovable object,” Gerling said. “They’re set in stone and you can’t do anything to change them. This is a misunderstanding we need to break them of by being very direct and modeling the changes that can come with proper tax planning.”

This, as Duffy noted, is what gets many financial professionals hung up: the difference between “tax planning” and “tax advice,” the latter of which is frowned upon by compliance departments and legal regulations. The TPCP™ Program also accents this difference by providing comprehensive, tax-informed planning knowledge to advisors.

“I tell my clients my job is to look into the future; your tax preparer is looking at the now,” Ribuffo said. “Together, we will give you a comprehensive picture, but I’ll be the one looking at year-over-year data and extrapolating information.”

Tax Planning Beyond Individuals

As Duffy and the panel noted, tax planning as part of financial planning goes beyond just individuals and families; it can also play an important role in retirement planning, business planning, and other areas.

“There’s a common misconception you’ll be in a lower tax bracket during retirement because you’re not earning money anymore, but actually the opposite can sometimes be true,” Gerling said. “Clients need to understand the impacts that required minimum distributions (RMDs) and the taxes involved in Social Security, Medicare, and other areas can have on their savings and generational wealth.”

The panel also accented how crucial tax planning is to a sound retirement plan, as well as building or exiting a business through matters such as employment payroll, employee benefits, and business structures.

“There’s a long runway of life after retirement, and we need to help clients land as gently and safely as we can,” Ribuffo said. “You can accumulate as much wealth as you want before you retire, but the one thing that can derail all your hard work if you’re not careful is taxes.”

More From The College

• Meet Our FinServe Network
• Enroll in Our Tax Planning Certified Professional™ (TPCP™) Program
• Learn About Our Retirement Income Certified Professional® (RICP®) Designation
   

Tuesday, October 29, 2024, from 2:00 p.m. - 3:00 p.m. ET
 

Join Professor of Practice Jeffrey Levine, CFP®, CPA/PFS, ChFC®, RICP®, CWS, AIF, BFA™ to discuss current categories of beneficiaries and the post-death distribution rules that apply to each group, methods beneficiaries can use to minimize taxes on future distributions, how retirement account owners can proactively help reduce the future tax burden on their beneficiaries, and more.

This webcast is only available in Knowledge Hub+. Log into Knowledge Hub+ via your Learning Hub.

What is Knowledge Hub+?

Knowledge Hub+ is a just-in-time learning and CE platform developed by The American College of Financial Services that curates the wisdom of leading academics, change-makers and innovators, financial planning experts, and practice management leaders into one easy-to-use learning experience for financial professionals.
Knowledge Hub+ delivers the added value of automated reporting of CE credit to the CFP Board and The College’s records, making it easier for financial professionals to fulfill their thirty-hour CE requirements every two years without administrative headaches.
With exclusive live events and new content added quarterly, there’s always something new to learn with Knowledge Hub+.
 

In this episode of our Shares podcast, Michael Finke, PhD, CFP® joins one of those thought leaders — Alan Gassman, JD, LLM, AEP® — for an in-depth discussion of tax law and planning, as well as the impacts tax can have on all stages of a client’s life. They examine the connections between taxes and family expenses, small business growth, retirement and legacy planning, and more to show how tax-informed planning can take your practice to the next level.

Alan Gassman, JD, LLM, AEP® is a senior partner at the law firm of Gassman, Crotty, and Denicolo in Clearwater, Florida and an expert in tax law, specializing in the areas of trust and estate planning, taxation, wealth preservation, and the representation of physician and medical practices. Gassman speaks at many tax conferences, national programs, and national and local webinars, and is one of the featured thought leaders in The College’s Tax Planning Certified Professional™ (TPCP™) Program. Gassman is a frequent speaker for continuing education programs and has published well over 200 peer-reviewed articles with publications such as Bloomberg BNA Tax & Accounting, Trusts and Estates Magazine, Estate Planning Magazine, The Florida Bar Journal, Forbes, and Leimberg Information Services Inc. (LISI), as well as many books on tax planning and law. He has also been recognized several times as a top lawyer in the state of Florida and the country by several prestigious industry lists including Who’s Who in American Law and the AV® Preeminent™ Peer Review RatedSM by Martindale-Hubbell®.

Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.

More From The College

Learn More About Our Tax Planning Certified Professional™ (TPCP™) Program
 

KING OF PRUSSIA, PA – November 4, 2024 – The TPCP™ Program equips financial advisors, tax professionals, and CPAs with the knowledge and tools to develop and implement tax-efficient planning strategies for individuals and business owners. While enrollment is now open, access to the first course (TPCP 101) begins on January 6. The program has already seen nearly 5,000 professionals express interest.

As part of the launch, a live demo with Jeff Levine, CFP®, CPA/PFS, ChFC®, RICP®, CWS, AIF®, BFA™, Professor of Practice in Tax Planning, will be held on Nov. 12, 2024, at 1:30 p.m. ET. Levine, known for distilling complex tax strategies into actionable insights, will guide attendees through the program alongside The College’s academic support team, providing a first look at this new curriculum. You can register here.

“The TPCP™ Program fills a critical gap in financial education by offering advisors practical tools to meet client demands for informed, tax-aware financial strategies,” said George Nichols III, CAP®, president and CEO of The American College of Financial Services. “With the expertise of our faculty, we are thrilled to provide professionals with a credential that brings tax-informed planning to the forefront of comprehensive financial planning.”

The TPCP™ Program focuses on real-world application, covering topics such as tax legislation, retirement tax planning, estate planning, and strategies for individual and business taxation.

“I’m excited to help financial professionals close the knowledge gap in this high-demand area with the launch of The College’s TPCP™ Program,” said Levine. “Tax planning is financial planning, and the TPCP™ provides the first comprehensive, in-depth education on tax strategies that directly align with clients’ goals and needs across their lifetime.”

To enroll in the program, visit TheAmericanCollege.edu/TPCP.

About The American College of Financial Services

Founded in 1927, The American College of Financial Services is the nation’s largest nonprofit educational institution devoted to financial services professionals. Holding the highest level of academic accreditation, The College has educated over 200,000 professionals across the United States through certificate, designation, and graduate degree programs. Its portfolio of applied knowledge also includes just-in-time learning and consumer financial education programs. The College’s faculty represents some of the foremost thought leaders in the financial services profession.

Visit the rest of our site or connect with us on LinkedIn, X, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
 

Contacts

Sarah Tremallo
908-967-0381 / Stremallo@jconnelly.com

Jared Trexler
610-526-1268 / Jared.Trexler@theamericancollege.edu 

In this episode of our Shares podcast, Lindsey Lewis, MBA, CFP®, ChFC® speaks with Padric H.B. Scott, AEP®, CFP®, ChFC®, CLU®, WMCP®, CCFC, CAP®, MSFP, founder and CEO of Crossroads Capital Partners and a member of The College’s FinServe Network and NextGen Advisory Task Force, about his philosophy of coordinated planning. They discuss Scott’s background in the NFL and transition to financial services, as well how he has adapted the strategies of a winning football team to a new approach toward managing client relationships.

Padric H.B. Scott, AEP®, CFP®, ChFC®, CLU®, WMCP®, CCFC, CAP®, MSFP is the president and CEO of Crossroad Capital Partners, where he oversees a team of 10 lady boss associates in the firm and has five advisors in his brokerage unit. In seven years of private wealth practice, he has been named to prestigious lists such as Advisor Today’s Top 4 Under 40 Nationally 2024, The American College of Financial Services’ NextGen Financial Services Professional Award recipient 2023, NAIFA Florida Top 4 Under 40 2023, Northwestern Mutual's Forum, and Forbes Best-In-State Financial Security Professional. He graduated from The College with his Master of Science in Financial Planning (MSFP) degree in December 2023, receiving along the way the CFP® certification as well as the Accredited Estate Planner® (AEP®), and Chartered Advisor in Philanthropy® (CAP®) designations among other planning designation specialties. As a result, he is listed as an estate and business planning specialist in the Northwestern Mutual framework of wealth advisors. He loves his God, family, church, and believes strongly in the motto "Achievement in Every Field of Human Endeavor!"
 

Any views or opinions expressed in this podcast are the hosts’ and guests' own and do not necessarily represent those of The American College of Financial Services.

More From The College

• Learn About Our CFP® Certification Education Program
• Learn About Our Chartered Advisor in Philanthropy® (CAP®) Program
• Learn About the Accredited Estate Planner® (AEP®) Program
• Learn About Our Master of Science in Financial Planning (MSFP) Degree Program

Who is Jeff Levine?

Jeffrey Levine, CFP®, CPA/PFS, ChFC®, RICP®, CWS®, AIF®, BFA™, is the quintessential lifelong learner—an alumnus of The American College of Financial Services who holds several designations and professional credentials, and who has spent much of his career obtaining and sharing knowledge that can help fellow practitioners and clients alike.

He got his start in the profession by learning IRA and retirement planning from one of the best – and another professor of practice at The College – Ed Slott, CPA. Jeff went on to become chief retirement strategist at training firm Ed Slott and Company, LLC. (Incidentally, he’ll be a great addition to our epic retirement experience next year.)

As impressive as his academic acumen is, Jeff’s success as a practitioner also speaks for itself. He’s excelled in several leadership roles within financial services firms and is presently chief planning officer at Buckingham Wealth Partners.

Like Liam Neeson’s character in the blockbuster “Taken,” Jeff has “a very particular set of skills” – primary of which is the uncanny ability to translate the nuances of tax regulation into practical to-dos (and don’ts) for financial advisors. He has killer instincts when it comes to helping professionals understand this very complex topic.

Why tax planning?

Only two things in life are certain. And taxation is one of them. It’s no secret today’s clients are interested in tax-informed financial planning. Yet what has been taboo until now is offering it—or what’s more, specializing in it. I believe this stems from a misunderstanding and conflation of “tax planning” versus “tax advice” (the latter of which is left to CPAs). But make no mistake: Tax planning is an essential part of financial planning.

The College’s recently released 2024 Advisory Services Study revealed some interesting facts about this nuanced area: first, (whether they realize it or not) most advisors are offering some services we would define as tax planning; and second, that nearly all of them are missing opportunities by not offering other tax-planning services. For example, small business owner tax planning is clients’ most frequently requested service that investment advisor representatives (IARs) are not currently providing.

Why do unmet client needs matter so much more in today’s market than they did even five years ago? Because driving revenue is so much harder as services become more commoditized – and it’s past time to take a new approach. We believe applied knowledge will be the key to a breakthrough for future-thinking financial professionals who seek to specialize in an area some are uncomfortable addressing. One of the best ways advisors can grow business organically will be by offering additional services, in turn, increasing client satisfaction, client retention, and client lifetime value.

What makes this program different?

One of the things I love about The College is that we don’t do anything without first “studying up” on the subject. It’s not often we see such a clear need for specialized, applied knowledge – nor do we hasten to develop solutions that are not fully researched or thoughtfully built. The TPCP™ will be the first new designation program The College has offered in over seven years and the first since I joined.

Presiding over the research, development, and launch of the TPCP™ excites me not simply because it’s new to The College, but broadly speaking, because it’s new to the world of financial services. There is no other professional educational program that’s fully focused on tax-informed financial planning to support clients – including business owners – throughout their life. And at present, there’s no designation program that signifies a financial advisor is well-versed in tax planning, except in the relatively rare case (Jeff is one) of a practitioner who is credentialed as both a CPA and a CFP® professional. And even then, the CFP® only trains on income taxation, and the CPA is broadly a compliance credential for someone licensed to practice public accounting.

On one hand, the TPCP™ can help financial advisors build tax-smart strategies as a valued (and value-add) service to their clients who want more than investment management. On the other hand, it can help CPAs incorporate financial planning for their clients who want more than public accounting services. We believe this credential will be a big differentiator for the professionals who earn it, giving early adopters a first-mover advantage with the clients and prospects who have been expecting a broader spectrum of services.

I know the individuals who are drawn to the TPCP™, including thousands already on our waitlist, have this in common with Jeff Levine: they dare to be different. With his string of credentials, his sharp wardrobe of signature vests, and his unmatched ability to simplify complicated subject matter, Jeff has always been a standout professional. And I couldn’t be happier to congratulate him on becoming a professor of practice and welcome him to our team of outstanding academics as we usher in our newest program.

More From The College

• Join the waitlist for the Tax Planning Certified Professional^TM (TPCP^TM) Program
• Meet Levine at the new, epic retirement planning conference: Horizons
• Learn more about Ed Slott and Company’s IRA Success
   

KING OF PRUSSIA, PA – October 14, 2024 - Levine, who serves as chief planning officer at Buckingham Wealth Partners, is spearheading the launch of The College's Tax Planning Certified Professional™ (TPCP™) Program. This first-of-its-kind designation program is designed to equip learners with the skills to identify, evaluate, and implement comprehensive tax strategies for individuals and business owners, while ensuring compliance with current legislation.

"I am thrilled to expand my relationship with The American College of Financial Services and lead the launch of the Tax Planning Certified Professional™ Program," said Levine. "I’m eager to collaborate with The College's renowned faculty and incredibly talented team of producers, instructional designers, and other academic support teams to help advisors and tax professionals close the significant knowledge gap in this specialized area so that they can more effectively deliver the number one service requested most by clients. Tax planning is financial planning, and this is the first comprehensive tax planning education program in the profession."

Levine is sought-after for his ability to distill complex financial legislation, regulations and policy into clear, actionable insights. His career spans a broad range of leadership roles, including his work as the “lead financial planning nerd” for Kitces.com and the creator of several other tax and retirement-focused educational programs for advisors. Levine started his professional career with IRA and retirement planning training firm Ed Slott and Company, LLC, where he served as chief retirement strategist.

“Jeff is one of the most respected voices in financial planning today, and we are excited to have him join our faculty," said George Nichols III, CAP®, president and CEO of The American College of Financial Services. "His combination of deep expertise and a forward-thinking approach to tax-informed planning elevates the Tax Planning Certified Professional™ Program and widens our suite of offerings designed to advance financial professionals as specialists in their craft.”

Levine’s commitment to education is reflected in his ongoing role as a speaker, presenting to thousands of financial advisors, accountants, attorneys, and consumers across the country each year.

“If you’re one of our students, you’ve likely heard Jeff speak, educate, help turn the theoretical into the applicable,” said Gwen Hall, PhD, EVP and provost. “I look forward to the TPCP™ showcasing The College’s track record of applied financial education that helps the profession better support society.”

He himself is a lifelong learner with a wide array of certifications and designations, including CERTIFIED FINANCIAL PLANNER® (CFP®), Certified Public Accountant (CPA), and those conferred by The College, including the Chartered Financial Consultant® (ChFC®) and Retirement Income Certified Professional® (RICP®).

Levine will continue to shape the TPCP™ Program while also supporting The College’s students and learners through just-in-time education and events. He is a featured speaker at The College’s retirement conference, Horizons, next March 3 to 5, 2025, in Coronado, CA.

About the Tax Planning Certified Professional™ (TPCP™) Program

The Tax Planning Certified Professional™ (TPCP™) program aims to equip financial professionals with the expertise needed to navigate tax complexities for clients, including business owners, throughout various stages of life and special circumstances. The program is ideal for financial advisors, agents, and CPAs looking to incorporate holistic, tax-informed planning into their client conversations while staying compliant with ever-changing tax regulations.

For more information, visit: TheAmericanCollege.edu/TPCP.

About The American College of Financial Services

Founded in 1927, The American College of Financial Services is the nation’s largest nonprofit educational institution devoted to financial services professionals. Holding the highest level of academic accreditation, The College has educated over 200,000 professionals across the United States through certificate, designation, and graduate degree programs. Its portfolio of applied knowledge also includes just-in-time learning and consumer financial education programs. The College’s faculty represents some of the foremost thought leaders in the financial services profession.

Visit the rest of our site or connect with us on LinkedIn, X, Instagram, Facebook, and YouTube. Discover all the ways you can expand your opportunities with us.
 

Contacts

Sarah Tremallo
908-967-0381 / Stremallo@jconnelly.com

Jared Trexler
610-526-1268 / Jared.Trexler@theamericancollege.edu