In any profession — and especially in financial planning — growth doesn’t just happen behind a desk. It happens when we step out of the day-to-day and connect with others who are just as committed to serving their clients well. The other week I had the privilege of attending the All-Ohio Financial Planning Association (FPA) Symposium, a two-day conference that brought together financial planners, researchers, and economists from across the country.
Conferences like this offer more than just continuing education credits. They spark conversations on timely topics like behavioral finance, ethics, retirement income planning, tax strategy, and the future of our profession. They also provide space for collaboration and connections – something I personally value highly. When you get a room full of thoughtful advisors together, the desire to serve others better becomes even more contagious.
One highlight for me was seeing students from Ohio colleges and universities attend. It was encouraging to witness the next generation stepping into the profession with curiosity and passion.
Here are a few standout insights from the sessions that left a lasting impression:
Behavioral Finance with Michael Kitces: Thinking Fast and Slow
Michael Kitces is a financial planner and well known author, speaker, and thought-leader for the profession. He spoke about how we make decisions — not just as clients, but as advisors, spouses, and human beings. He referenced the dual-system thinking model popularized by Daniel Kahneman:
- System 1, also known as “the rabbit,” is fast, emotional, and intuitive.
- System 2, or “the turtle,” is slower, logical, and deliberate.
We all like to think our big life decisions — like retiring, moving, or making a major purchase — are made with System 2 logic. But the truth is, System 2 requires energy, time, and focus. When those are depleted, we default to the quicker, more reactive System 1.
One example that stuck with me was a study of parole boards. Researchers found that inmates who had their hearings scheduled around 11 a.m. or 3 p.m. were less likely to be granted parole. Why? Likely because the decision-makers were hungry or tired — their ability to use System 2 was running out of fuel. In other words, timing matters when making important decisions.
That has direct implications for financial planning. If a conversation about estate planning, Roth conversions, or downsizing happens at the wrong time — when someone is distracted or emotionally drained — the outcome might not reflect their best thinking. Part of our job as advisors is to create the space for thoughtful, well-timed conversations that allow System 2 to do its work.
Another story Kitces shared centered around radiologists. In an effort to increase efficiency, hospitals started removing face-to-face interactions between patients and radiologists. The radiologists were placed in rooms all day, reviewing X-rays with no personal connection to the individuals. Over time, the number of “incidental findings” — unexpected but important diagnoses unrelated to the initial scan, like a lump, fracture, or early sign of cancer — dropped significantly.
But when a simple photograph of the patient’s face was added to the top corner of the X-ray, the number of incidental findings increased fivefold. Why? Because human connection increases care. Seeing the person behind the scan — a grandparent, a young parent, a neighbor, a widow — inspired professionals to go above and beyond.
This hit home for me. At our firm we work hard to keep that human connection central — from sharing family photos to the relationships we build at client events and on social media. We believe planning is personal. And when you really see someone, you serve them better. After all, we’re often talking about people’s life savings, their family dynamics, and their dignity and freedom.
Tax Planning with Steven Jarvis: Don’t Leave the IRS a Tip
Steven Jarvis is a CPA who aims to bridge the gap between tax professionals, financial advisors, and their mutual clients to help reduce most people's largest expense in retirement: taxes! Steven brought his usual energy and wit to the topic of taxes — a subject most people don’t love, but everyone needs to understand. One of his favorite lines:
“We want clients to pay what they owe to the IRS — but not leave a tip.”
Steven reminded us that tax planning isn’t about finding a magic loophole to save thousands in one year. It’s about small, consistent decisions over time that reduce your lifetime tax bill — and in some cases, the taxes paid by the next generation as well.
He also pointed out that tax laws change constantly. In fact, they technically change every year. A big shift is expected at the end of 2025 when many provisions of the Tax Cuts and Jobs Act (TCJA) are set to expire — unless Congress extends them, which is currently being debated.
Right now, hundreds of tax-related bills are being reviewed, and while headlines about eliminating the IRS or removing taxes on Social Security make waves, the best approach is to plan according to the law as it stands today — not on speculation.
One simple but meaningful starting point we often use with clients is this question:
“Are you concerned that taxes might go up in the future?”
If the answer is yes, then we may want to explore strategies like:
- Roth conversions
- Charitable contribution bunching
- Timing of income and deductions
As Steven put it, tax planning is about making smart, informed choices based on today’s information — not waiting for perfect clarity.
Final Reflection
Whether it’s behavioral finance, tax strategy, or simply staying connected with other advisors who care deeply about their work, events like the FPA Symposium are a valuable reminder:
Lifelong learning isn’t just helpful — it’s essential.
And when we combine technical expertise with human empathy, we create something powerful for the families we serve.
If you’d like to hear more about the conference or how these ideas might apply to your plan, I’d love to continue the conversation. Just reach out.