September 15, 2008 at 4:45 p.m.
University Events Room
Glickman Family Library, 7th floor
Portland USM Campus
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Click below to view the video:
Financial planners have been talking about “comprehensive financial planning” for over 25 years. In theory, the comprehensive financial planner takes a rational problem-solving approach to assess a client’s personal goals, develops a plan to meet those goals, implements the plan, and then periodically reviews it to ensure that the plan is meeting those goals. In practice, there is some controversy about the scope of financial planning and what set of services should be provided by the planner. Should the financial planner consider only financial goals of the client? What about the scope of services required by the plan? How many of these should the comprehensive planner deliver him/herself? Should the planner outsource the implementation of parts of the comprehensive financial plan?
This survey aims to provide some help with these questions by asking comprehensive financial planners about the scope of services they provide to clients. In addition, the survey respondents were asked about which services they themselves provide and which they outsource.
We will discuss the theoretical underpinning of comprehensive financial planning, the different models of service delivery reported and possible, and the implications for credentialing of financial planners.
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Professor Chene joined USM in 2007. He is a Certified Public Accountant. Before coming to USM, he worked ten years in public accounting in the greater Portland area. He has experience as both an audit and tax manager working primarily with small businesses. He has also consulted with small businesses and owners on various business and tax planning issues. He is a member of the American Accounting Association and the American Institute of CPA’s and the Maine Society of CPA’s. He is on the Board of Governors of the MSCPA. He has served as Treasurer and is currently the Secretary of the Board.
Professor Chene has worked on the research together with Joel Gold, PhD, CFP and Jeff Gramlich, PhD, CPA.
The colloquium is sponsored by the L.L. Bean/Lee Surace Endowed Chair in Accounting.
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USM Professor Jeffrey Gramlich was appointed the first L.L. Bean/Lee Surace Chair in Accounting in the USM School of Business in 2003. His appointment was made possible by a $1 million gift from L.L. Bean, Inc., its board chair, Leon Gorman, his wife Lisa, Jim and Maureen Gorman, and Tom Gorman, who established the chair in memory of L.L. Bean CFO Lee Surace '73, '81, who died in March of 2001. Surace was chair of the USM School of Business' Advisory Council and was a frequent guest lecturer.
The USM School of Business is accredited by the prestigious AACSB International. For students seeking the finest education and companies seeking the highest caliber talent, partnership, and educational opportunities, AACSB International accreditation is one of the most important affirmations of sustained quality in the word. For more information about School of Business programs, call 780-4020.
