2024 Connecticut State Conference

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CONFERENCE KEYNOTES

Planning for Different Lives: Our Recovery from Crisis

Lee Woodruff

Speaker & Writer, Co-author with Bob Woodruff of In An Instant

Watch the Introductory Video

In January 2006, Bob Woodruff, co-anchor of ABC’s World News Tonight, suffered a traumatic brain injury while embedded with the US Army in Iraq. Lee Woodruff, his wife, will share her personal experience of recovery from this catastrophic event, not only the healing of Bob’s physical injuries and the emotional trauma they caused but also their reaction and response to the financial implications including working with a financial planner. She will demonstrate and educate on the ways planners can “be there” for people in crisis with suggestions on the approach to take and on language for successful interactions.

Estimating the True Cost of Retirement

David Blanchett

Managing Director & Head of Retirement Research, DC Solutions, PGIM

Retirement is the most expensive purchase faced by most individuals. In this session, David Blanchett will explore a framework for better understanding how much retirement actually costs and a process for making better estimates. This session will discuss approaches for properly forecasting the growth of assets and important considerations when estimating the liability, such as determining the optimal replacement rate, forecasting the retirement period and understanding what it truly means to fail (or succeed) during retirement.

Bitcoin: Revolutionizing Finance in the Digital Age

Keith Laska

Founder & CEO, LearnBitcoin.io; Adjunct Professor, Fordham University

In the space of just 15 years, Bitcoin has gone from an anonymous cryptography project to a major emerging asset with a market capitalization of more than $1 trillion. In January 2024, ten spot Bitcoin ETFs were launched in the US by some of the largest asset managers in the world—including Blackrock, Fidelity and Invesco. Within 30 trading sessions, these ETFs became the most successful launch in the 40-year history of ETFs, and they show no signs of slowing down. Younger generations look to Bitcoin as a “savings technology”—an alternative to both bonds and even the S&P 500. But what is Bitcoin, and why is it so hard to understand? This session will demystify Bitcoin and present Bitcoin’s potential as a core part of future investment strategy.  

Outlook 2024: Long-term Perspective on Markets & Economies

David Polak, Equity Investment Director, & Gregory Ortman, Fixed Income Director, Capital Group│American Funds

The investing climate is never static. Many pundits focus their attention on the upcoming year: Recession or expansion? Inflation or deflation? Higher interest rates or lower? Our efforts are committed to identifying long-term events and trends that have the potential to change companies, industries, economies and the world. Today, our list includes the adoption of artificial intelligence, the energy transition from fossil fuels to alternative sources, corporate reform in Japan, and the return of real returns in the fixed-income universe.

CONFERENCE BREAKOUTS

Alternative Asset Allocation: Improving Portfolio Outcomes in a Changing Investment Landscape

CR Martin, Advisors Asset Management

Responding to changes in the investment landscape and their implications for strategic asset allocation, advisors are increasingly turning to private-market investments, also known as “alternative investments,” to improve portfolio outcomes. This session discusses the role alternatives can play by providing diversification, enhanced income and capital appreciation. We also discuss opportunities in the specific areas of private credit and real estate. 

Long-Term Care Planning with Single Premium Immediate Annuities

Brendan Daly, Czepiga Daly Pope & Perri

Medicaid covers the cost of care for 73% of Connecticut nursing home residents, many of whom are married with spouses at home, but asset preservation is not possible when spending down to the federal Medicaid asset limits. This session provides a comprehensive overview of Medicaid-compliant single premium immediate annuities—a strategy that can result in significant asset protection for spouses of nursing home residents, and in some cases, single individuals. Brendan co-counseled the landmark decision of Lopes v. Starkowski that changed the landscape in Connecticut in asset preservation for long-term care.

Decoding Trusts: An Insightful Conversation on Trust Terms

Michael Clear & Erin Nicholls, Wiggin and Dana LLP

Clients ask about SLATs, GRATs, IDGTs, Dynasty Trusts and Grantor Trusts (to name only a few strategies). This session will provide an overview of trust design and management by covering types of trusts, the practical implications of distribution terms, and the role of trustees in directed trusts and in trusts with investment policy statements. The importance of fiduciary reviews to ensure sound trust management, in particular with policy audits for trust-owned life insurance, will be highlighted.

Estate Planning and Long-Term Care: The New Wealth Transfer

Stefan Cherneski & Sean J. Link, Underwriters Brokerage Service

This session explores the critical dependency of health and wealth in America among mass-affluent and high-net-worth clients on the effective management of costs for long-term care (“LTC”). Using data and case studies, we will examine the trends for wealth and LTC costs and compare and contrast self-funding for LTC against various insurance-related alternatives. We conclude by emphasizing the importance of including LTC in holistic planning for clients in these wealth brackets.

THANKS TO OUR PLATINUM & GOLD SPONSORS!

Financial Planning Association® is the leading membership organization in the US for CERTIFIED FINANCIAL PLANNER™ professionals and others engaged in financial planning. As the Chapter for our state, FPA of Connecticut is committed to meeting the national organization’s promise of professional fulfillment through practice support, learning, advocacy, and networking.