The IAFP’s seventh annual Symposium was a ground-breaking event for the profession, delighting delegates and surprising many who were not too sure about the Sustainability theme. Congratulations to Symposium Co-Chairs Al Feth and John Hope for breaking new ground with the theme and case study, leading the way to another tremendously successful Symposium! (26 more photos are posted in our London Symposium photo gallery.)
IAFP Members should contact us at 1-888-298-3292 if they missed the Symposium and would like to purchase access to presentation materials.
The theme of Sustainability in financial planning was explored through the “Happy Valley” case study, which was set in a Village of 100/1000 microcosm of our current world. The case examined the long-term effects of wealth on both family and community stakeholders, and raised questions about the importance of a client’s non-financial aspirations. (To investigate further, see our Sustainability & Financial Planning links page.)
On Friday, all delegates completed ballot forms asking them to make 15 difficult choices on options presented by the case study. Most of the delegates also attended the Saturday morning round-table sessions where they discussed ballot results, and pursued a range of issues in more depth with their peers. They generally agreed that a lesson to be learned from the case study was how difficult it is to make financial choices in isolation, i.e., for a single client and without considering key choices made in other areas of an estate or by other stakeholders.
Ballot results reflected the complexity of calculating how one aspect of endowments affects another, and the need to avoid breach of trust by ensuring that the mathematics in each area works for all concerned. A post-Symposium analysis of the ballot results led to the questioning of widely-held economic assumptions about distribution of wealth. For more detail, IAFP Members can read the full summary and case study conclusions on the Members Site.
Saturday participants also heard from R.F.P. Al Feth on the subtleties of Endowments. They then discussed a wholistic approach to endowments and estate planning which considers all of the many aspects of wealth as well as the intersection of individual, family and community interests.
Last updated: 21 Jul 2019 11:51 PM
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