Below is a list of current presentations that Michael has available for your event. You should contact Michael directly if you wish to discuss having him speak on a topic not listed, or if you are interested in a half-day or full-day workshop.
Presentations
Michael Kitces’ Conference Schedule
The events listed below are for the 2018 calendar year.
Date | Location | Event | Details | |
---|---|---|---|---|
January | ||||
17 | Kansas City, MO | FPA Kansas City |
*Tax Planning Developments & Opportunities Under TCJA |
|
21 | Hollywood, FL | Inside ETFs |
*Five Industry Trends Reshaping Financial Advice |
|
26 | Herndon, VA | FPA National Capital Area |
*Strategies For Managing Sequence Of Return Risk In Retirement |
|
30 | Webinar | Private Event |
*Tax Planning Developments & Opportunities Under TCJA |
|
February | ||||
7 | Bowling Green, KY | Western Kentucky University |
*Tax Planning Developments & Opportunities Under TCJA |
|
8 | St. Louis, MO | FPA St. Louis |
*Tax Planning Developments & Opportunities Under TCJA |
|
13 | Sydney, Australia | Macquarie’s Virtual Adviser Network (VAN) |
*Interview Style - Ask Me Anything |
|
14 | Sydney, Australia | Portfolio Construction Forum |
*The Finologist of the Future is a Cyborg |
|
22 | Webinar | Investments & Wealth Institute (IMCA) |
*Tax Planning Developments & Opportunities Under TCJA |
|
March | ||||
6 | Denver, CO | Charles Schwab |
*Five Industry Trends Reshaping Financial Advice |
|
8 | Phoenix, AZ | Charles Schwab |
*Five Industry Trends Reshaping Financial Advice |
|
13 | Indianapolis, IN | Charles Schwab |
*Five Industry Trends Reshaping Financial Advice |
|
15 | Webinar | Loring Ward |
*Tax Planning Developments & Opportunities Under TCJA |
|
19 | Webinar | Private Event |
*Tax Planning Developments & Opportunities Under TCJA |
|
20 | Chicago, IL | Salesforce |
*Five Industry Trends Reshaping Financial Advice |
|
21 | Chicago, IL | Investments & Wealth Institute (IMCA) |
*CPWA Training on Retirement Planning |
|
28 | Orlando, FL | Charles Schwab |
*Five Industry Trends Reshaping Financial Advice |
|
29 | Los Angeles, CA | CFA Institute Wealth Management |
*Generating Tax Alpha with Effective Asset Location |
|
April | ||||
24 | Nashville, TN | The Investment Center, Inc. |
*Tax Planning Developments & Opportunities Under TCJA |
|
25 | Plantsville, CT | FPA CT Valley |
*Future of Financial Planning in the Digital Age |
|
26 | San Diego, CA | fi360 |
*New World of Social Security |
|
30 | Annapolis, MD | Private Event |
*Strategies For Managing Sequence Of Return Risk In Retirement |
|
May | ||||
1 | Chicago, IL | Investment News |
*Rethinking Risk Tolerance for Retiring Clients |
|
2 | Kansas City, MO | Mokan Trust & Financial Services |
*Tax Planning Developments & Opportunities Under TCJA |
|
3 | Webinar | Brinker Capital |
*Interview Style - Ask Me Anything |
|
3 | Philadelphia, PA | Estate Planning Council of Philadelphia |
*Safe Withdrawal Rates: Mechanics, Uses & Caveats |
|
8 | Nashville, TN | Investments & Wealth Institute (IMCA) Annual Conference |
*Managing and Minimizing Required Minimum Distribution (RMD) Obligations |
|
9 | San Antonio, TX | FPA San Antonio |
*Five Industry Trends Reshaping Financial Advice |
|
10 | Birmingham, AL | Estate Planning Council of Birmingham |
*Tax Planning Developments & Opportunities Under TCJA |
|
16 | Dallas, TX | FPA Dallas / Fort Worth |
*Tax Planning Developments & Opportunities Under TCJA |
|
17 | Indianapolis, IN | FPA Greater Indiana |
*To Roth or Not to Roth |
|
23 | Webinar | AICPA |
*To Roth or Not To Roth |
|
29 | San Francisco, CA | FPA NorCal |
*Best Practices In Social Media and Digital Marketing for Financial Advisors: An Interview with Michael Kitces |
|
June | ||||
6 | Oakbrook, IL | Investments & Wealth Institute (IMCA) |
*CPWA Training on Retirement Planning |
|
7 | Richmond, VA | FPA Central Virginia |
*Modern Portfolio Theory 2.0 |
|
12 | Las Vegas, NV | AICPA Engage |
*Generating Tax Alpha with Effective Asset Location |
|
18 | Webinar | Private Event |
*Interview Style - Ask Me Anything |
|
18 | Webinar | Private Event |
*Applying Behavioral Finance in your Financial Planning Practice |
|
19 | Webinar | Investments & Wealth Institute (IWI) |
*Distribution Strategies at Death |
|
20 | Webinar | BAM Alliance |
*Five Industry Trends Reshaping Financial Advice |
|
28 | Brooklyn Center, MN | MNCPA |
*Five Industry Trends Reshaping Financial Advice |
|
29 | Cle Elum, Washington | LPL Advisor Conference |
*Five Industry Trends Reshaping Financial Advice |
|
July | ||||
11 | Webinar | AICPA |
*Tax Planning Developments & Opportunities Under TCJA |
|
11 | New York City, NY | SourceMedia Conferences & Events |
*Panel Session on The Rise of the Model Marketplace |
|
18 | Webinar | NAPFA Genesis |
*Interview Style |
|
24 | Webinar | Reverse Mortgage Funding |
*Tax Planning Developments & Opportunities Under TCJA |
|
29 | Boston, MA | LPL Focus Conference |
*Five Industry Trends Reshaping Financial Advice |
|
August | ||||
6 | San Diego, CA | CUSO Financial Services |
*Future of Financial Planning in the Digital Age |
|
13 | Webinar | AICPA |
*Tax Planning Developments & Opportunities Under TCJA |
|
15 | Irvine, CA | FPA Orange County Quarterly Education Meeting |
*Tax Planning Developments & Opportunities Under TCJA |
|
16 | Los Angeles, CA | Investments & Wealth Institute (IMCA) |
*CPWA Training on Retirement Planning |
|
23 | Webinar | Private Event |
*Interview Style - Ask Me Anything |
|
27 | Webinar | Private Event |
*Estate Planning in 2018 & Beyond |
|
28 | Webinar | Investments & Wealth Income (IWI) |
*Strategies For Managing Sequence Of Return Risk In Retirement |
|
29 | Webinar | AICPA |
*An In-Depth Look At Optimal Rebalancing Strategies |
|
September | ||||
5 | Webinar | Loring Ward |
*Social Media for Financial Planners |
|
6 | Phoenix, AZ | CUNA Mutual Group |
*Five Industry Trends Reshaping Financial Advice |
|
20 | Webinar | Retirement Funding Solutions |
*Strategies For Managing Sequence Of Return Risk In Retirement |
|
20 | Webinar | Private Event |
*Five Industry Trends Reshaping Financial Advice |
|
21 | Webinar | Educe, Inc. |
*Interview Style - Ask Me Anything |
|
26 | Chicago, IL | Investments & Wealth Institute (IMCA) |
*CPWA Training on Retirement Planning |
|
October | ||||
2 | San Francisco, CA | Loring Ward |
*Future of Financial Planning in the Digital Age |
|
8 | Chicago, IL | Investments & Wealth Institute (IMCA) Private Wealth Forum |
*Tax Planning Developments & Opportunities Under TCJA |
|
9 | Minneapolis, MN | FPA Minnesota |
*Future of Financial Planning in the Digital Age |
|
10 | Chicago, IL | Northwestern Mutual |
*Five Industry Trends Reshaping Financial Advice |
|
18 | Albany, NY | Cadaret, Grant & Co. |
*Tax Planning Developments & Opportunities Under TCJA |
|
23 | St. Louis, MO | BAM Alliance |
*What I’ve Learned Panel |
|
24 | Minneapolis, MN | Think2Perform |
*Future of Financial Planning in the Digital Age |
|
30 | Washington, DC | Schwab IMPACT |
*Five Industry Trends Reshaping Financial Advice |
|
November | ||||
8 | Dallas, TX | Investments & Wealth Institute (IMCA) |
*CPWA Training on Retirement Planning |
|
19 | San Francisco, CA | Private Event |
*Future of Financial Planning in the Digital Age |
|
28 | Webinar | BAM Alliance |
*Advanced Planning Concepts in Long-Term Care Insurance |
|
28 | Baltimore, MD | Private Event |
*Tax Planning Developments & Opportunities Under TCJA |
|
December | ||||
3 | Florida | IWI Retirement Management Forum |
*Generating Tax Alpha with Effective Asset Location |
|
10 | Webinar | Private Event |
*Future of Financial Planning in the Digital Age |
|
12 | Atlanta, GA | Investments & Wealth Institute (IWI) |
*CPWA Training on Retirement Planning |
|
October | ||||
6 | Webinar | The Chartered Institute for Securities & Investment (CISI) |
*Kitces Research on What Makes Financial Planning More |
Helping professions like financial planning often attract "Givers" - people who are naturally inclined to put others before themselves and help those people to succeed. Yet the challenging reality for many helping professions is that often the practitioners go so far out of their way to help others that they undermine their own careers and success in the process. When comparing Givers who tend to focus on others, and Takers who put themselves first, it's no surprise that those at the bottom of the success ladder are often a group of burned out and worn out Givers.
Yet recent research from Wharton Professor Adam Grant made a startling discovery; while the bottom of the success ladder is populated by Givers, the top of the ladder is also dominated by Givers! In other words, the traits that lead some people to be Givers who are taken advantage of lead others who are also Givers to propel themselves to success. Accordingly, in his research Grant digs further to identify what the key traits are that separate the successful Givers from the unsuccessful ones, and how anyone can set themselves on a more successful path.
Although the book is written as a guide for success in any business context, the lessons of Grant's research are certainly relevant for financial planners in particular, from how to help those experiencing burnout, to making slight changes in your Giver behavior to keep from "being a doormat," to how to shift the Takers in your business to act more like Givers for the benefit of the team. Ultimately, changing one's style of interacting with others is difficult - the implications of Grant's research are profound, but certainly not a cure-all. Nonetheless, what emerges is some interesting clarity about why some financial planners seem to build growing, successful businesses, while others stay mired in a practice that can't seem to get ahead.
Enjoy the current installment of "weekend reading for financial planners" - this week's issue is focused on articles about practice management, career development, and technology, and kicks off with a discussion from industry commentator Bob Veres about advisor fee models, particularly the AUM fee model, and how many are looking at changing and evolving beyond an AUM-centric business focus.
From there, we have a number of practice management articles, including a discussion of whether advisors are increasingly "stealing" clients from others in order to grow, how many succession planning deals are actually poorly structured and priced, and the importance of having a career track in your firm to attract and retain talent (and potential future successors!).
There are also a number of technology-related articles, including a review of new digital content marketing services Vestorly and AdvisorDeck, a review of financial planning software eMoney Advisor and how it can also serve as a personal financial management tool for clients, the importance of adopting rebalancing software, the viability of using cloud-based office productivity software like Microsoft Office 365 or Google Apps, and how to balance the benefits of marketing automation with the importance of personalized service.
We wrap up with three final articles: the first is from Angie Herbers and looks at how relinquishing some control to employees is crucial for staff (and ultimately the firm itself) to grow and develop; the second is a case study discussion of the XCelsior study group as an example of the importance and value of being involved with a study group; and the last looks at how clients in the future will have different needs and expectations of their advisor than the baby boomers of the past, and that becoming a "Gen-Savvy Financial Advisor" in order to succeed may require not just an evolution for advisors but an entire revolution from the way things are currently done. Enjoy the reading!
Many readers of this blog contact me directly with questions and comments. While often the responses are very specific to a particular circumstance, occasionally the subject matter is general enough that it might be of interest to others as well. Accordingly, I will occasionally post a new "MailBag" article, presenting the question or comment (on a strictly anonymous basis!) and my response, in the hopes that the discussion may be useful food for thought.
In this week's MailBag, we look at a question about how best to transition as a career changer into financial planning, the issues to consider, and some best first steps to take.
Determining whether investment results are due to luck or skill is no small task for even skilled analysts evaluating an active investment manager; given the amount of randomness inherent in markets, it can be very difficult to determine which is which. Fortunately, the field of inferential statistics exists specifically to analyze such situations and help to distinguish the signal from the noise, and determine when results are likely randomness and luck versus when there is at least a high probability that skill or some other factor is at play.
When inferential statistics is applied to evaluating active management, the results are questionable at best - a small subset of managers are clearly inferior, and for virtually all the rest, there are simply no clear indicators of skill at all; even when some modest level of outperformance occurs, the results are rarely ever statistically significant. Of course, just because an actively managed fund has outperformance that is not statistically significant doesn't mean the manager isn't actually generating real outperformance and adding value. It's just that the outperformance isn't large enough relative to overall market volatility to clearly show whether the results are due to luck or skill.
Unfortunately, though, the caveat is that given just how incredibly volatile markets really are, searching for "statistically significant" outperformance may actually be a lousy approach for evaluating managers; even if a manager really does outperform for an extended period of time, the available tests simply are not capable of distinguishing skill from market noise given the tenure of even long-standing managers. In fact, when tested to determine the effectiveness of the approach in the first place, the reality is that even if a manager is adding several hundred basis points of outperformance, annually, for more than a decade, there is still a more-than-90% likelihood that inferential statistics will FAIL to identify the signal that really is there.
In other words, if the goal is actually to determine which active managers really do add value, searching for statistically significant outperformance is an approach with an overwhelming likelihood to fail, even in situations where it should be succeeding! Which means in the end, failing to find statistically significant outperformance amongst active managers may actually be less a failure of active management itself, and more a problem with using an approach that was unlikely to successfully identify good managers in the first place!
As communication becomes increasingly virtual, from telephone calls to emails, it becomes harder and harder to ensure that interactions between the staff and clients of any firm maintain their personal touch. Yet maintaining that personal connection with the individual client is crucial; in fact, a recent study in medicine found that radiologists are dramatically more effective in their analysis of scans of patients they've never met, simply by attaching a photo of the subject to help make the interaction more personal.
The opportunity to reinforce such connections is equally relevant in a financial planning firm, and equally feasible to implement. Just as the radiologist demonstrates a better connection to their patients with the photo - and report feeling more empathy on behalf of their patients - so too can client photos be attached to client files, or loaded into the main page of a client's CRM record, to ensure staff bear in mind the human being at the other end of the account/phone call/email message.
In addition, the reality is that the need for a visual personal connection in a virtual environment goes both ways. As a result, it's perhaps equally important to include a picture of all your staff members on your website - or even in the signature of their emails - to help clients understand who they're relating to as well. And the issue is relevant for the financial planners themselves, too; while planners will typically meet with their clients in person, at some point before a client is a client, they're a prospect who might visit your website to do their due diligence. When a potential client looks you up on your website, what is their first impression? Do they have a chance to make a visual connection and actually SEE you?
From the perspective of economics and life cycle finance, the immediate annuity is often viewed as the perfect retirement vehicle; in research dating back to Yaari (1965), it has been shown that for someone whose primary concern is outliving his/her money (as opposed to leaving a bequest to future generations), investment dollars should be annuitized to generate a superior return over bonds (due to mortality credits) while protecting against mortality risk.
Yet economists have long struggled to explain the so-called "annuity puzzle" - the fact that while the research suggests annuitization should be optimal, in practice remarkably few people ever choose to do so. Does that mean they're all just being driven by an irrational decision-making process and just need to be better educated to understand the true benefits of immediate annuities, or is there some other factor at play?
In new research, researchers Felix Reichling of the Congressional Budget Office and Kent Smetters of the Wharton School of Business think they have found a new way to explain the puzzle: the fact that the value of an immediate annuity changes over time due to incremental (and sometimes shocking) changes in health and mortality. In fact, it can be the worst of both worlds - severe health events can simultaneously reduce life expectancy (decreasing the remaining value of the annuity) and increase cash flow needs (to pay for the necessary care). And when viewed in this dynamic context, the value of annuitization can be quite risky indeed; so much, in fact, that Reichling and Smetters find that for those who are relatively risk averse and/or have limited retirement assets, that the most rational annuity allocation might be to avoid them altogether, and the ideal might even be for many to have negative exposure and "short" annuities instead!
About Michael E. Kitces
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Michael E. Kitces
MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL
With a natural inclination for thorough analysis, lifelong focus on advanced education, and years of experience in the financial services industry, Michael Kitces is uniquely qualified to help you accelerate the growth of your own financial planning knowledge. His writing and speaking will help to keep you on the cutting edge, with important information about financial planning changes and developments for the benefit of you and your clients.
For Michael's speaker bio and photos for marketing purposes, please click here.
Michael is a dedicated lifelong learner
Michael's professional degrees and designations include:
MSFS – Master of Science in Financial Services
MTAX – Master’s in Taxation
CFP® – Certified Financial Planner
CLU – Chartered Life Underwriter
ChFC – Chartered Financial Consultant
RHU – Registered Health Underwriter
REBC – Registered Employee Benefits Consultant
CASL – Chartered Advisor of Senior Living
“My passion is to help advance the financial planning body of knowledge and distill complexity into practical applications that advisors can use to create better solutions for their clients.”
Michael is a nationally recognized speaker
Michael's recent speaking engagements include:
“Advanced Planning for Alternative Minimum Tax”
– FPA National Conference
“The Impact of Market Valuation on Safe Withdrawal Rates”
– FPA Retreat
“Understanding Variable Annuitization and Its Impact
on Sustaining Income in Retirement”
– SFSP National Conference
“Understanding the Next Generation of Financial Services Professionals”
– SFSP Arizona Institute
“Cutting Edge Tax Planning Developments and Opportunities”
– NAPFA National Confrence
“Trusts as Beneficiaries of IRAs”
– NAPFA Northeast Regional Conference
“Safe Withdrawal Rates: Mechanics, Uses, & Caveats”
– AICPA Personal Financial Planning National Conference
“I really enjoy the opportunity to share my knowledge with others. Sometimes it’s a challenge during one of my advanced seminars for members of the audience to absorb a particularly complex issue, but it’s a joy when I see their eyes light up as they internalize the concepts I’m teaching and realize how they can use it to benefit their own clients.”
Michael is a sought-after commentator on financial planning issues
Michael has been interviewed for numerous publications, include:
Wall Street Journal
BusinessWeek
Journal of Financial Planning
Financial Planning magazine
Financial Advisor magazine
Investment News
Kiplinger magazine
Money magazine
SmartMoney.com
Marketwatch.com
Retirement Weekly
“I don’t envy the challenge that today’s media faces, asked to distill a complex topic into something that is not only understandable, but able to be delivered in a concise newspaper or magazine column with very limited space. I do numerous interviews every month with a broad range of consumer and trade media, trying to assist them in this task while working to ensure that the key technical points are not lost. At the same time, I look forward to the opportunity to discuss those issues that I believe are most important for readers to know, with the commentary on my blog Nerd’s Eye View.”
Michael writes extensively on a broad range of advanced financial planning topics
Michael's recent books and articles include:
co-authored with John Olsen,
published by National Underwriter Company
“Tools & Techniques of Retirement Income Planning”
co-authored with Leimberg, Keebler, Coates, & Baldwin,
published by National Underwriter Company
“Long-term implications of the Tax Increase Prevention
and Reconciliation Act of 2005”
in the Journal of Financial Planning
“What's Next For Ideas”
in Financial Planning magazine
“I enjoy writing as another outlet to teach and help advisors create better solutions for their clients. Although I’ve written for a number of trade publications and Journals, I especially enjoy writing The Kitces Report for my readers, because it gives me the space and flexibility to cover a topic thoroughly with both a technical and applied focus. In addition, it gives me the opportunity to get this information to my readers as quickly as possible, keeping them on the cutting edge.”
Michael actively gives back to the financial planning profession
Michael's recent professional volunteer activities include:
Chair, Board of Directors, 2009, FPA Maryland
Board Member, Board of Directors, 2010, SFSP Maryland
Chair, Conference Task Force, 2011, FPA Retreat Conference
National Chair, Financial Planning Section, 2010-Present, Society for Financial Services Professionals
Chair, Government Relations Tax Committee, 2010, FPA National
Reviewer, Editorial Review Board, 2010-Present, Journal of Financial Planning
Task Force, National Personal Financial Planning Conference, 2012-Present, AICPA
“I believe it’s a crucial aspect for any professional to give back to their profession. This has been the guiding force for my own volunteer work with the FPA and other industry associations at the local and national level, the NexGen planning community, the message boards of Financial-Planning.com, and in other industry endeavors."
Michael supports his technical knowledge with years of experience in the financial services industry
“Over the years, I’ve had experience in a traditional commission model, a blended fee-and-commission practice, and currently as the Director of Research for Pinnacle Advisory Group, a private wealth management firm located in Columbia, Maryland. This background has given me a broad perspective on the difficulties that financial planners face, especially the challenge of staying up to date in an ever-more-complex world. As I contributed my skills to the firms in which I worked, I realized that there was an opportunity to leverage my passion even further to truly advance the financial planning body of knowledge and the quality of the solutions that financial planners deliver to their clients.”
Michael seems to be everyplace, all the time.
Does he ever sleep?
“As much as I wish I could find a way to get more productive hours out of my day, I still need my full 8 hours of sleep to stay healthy! Beyond that, I've also tried to keep myself energized and in balance over the years by spending time in the gym, studying martial arts, and going ballroom dancing, as well as playing duplicate bridge at the local club and being involved as a ‘lighting improviser’ and member of the board of directors of Washington Improv Theater. But if anyone is aware of an invention that would let me be fully functional on only a few hours of sleep, please let me know!”
Consulting
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Michael Kitces is available as a consultant for businesses that serve financial advisors on a B2B basis, to help strategize around how financial planning is changing in the digital age and the different types of advisors that companies may wish to serve. If you are looking to build your business or better understand and connect with financial advisors, financial planners, or wealth managers, Michael is available to work with your firm on a half or full day basis, or via 2-hour virtual sessions.
Some companies I have consulted with include:
If you are interested in consulting in the form of personal financial planning and investment management services, please visit Pinnacle Advisory Group.
If you are looking for consulting on how to structure and outsource the investment process and back-office for your financial advisory firm, with insights on marketing and growth strategy, please visit Pinnacle Advisor Solutions.
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