A reminder that the new guidelines for EFA Planning and Consulting will become mandatory on August 15, 2024. This upgrade includes:
- Revised Financial Planning Client Agreement
- Revised Financial Consulting Client Agreement
- New EFA Financial Planning Scoring Matrix
- New EFA Financial Planning Pricing Matrix
- New Financial Planning and Financial Consulting Advisor Guide
The Financial Planning and Financial Consulting Advisor Guide provides a comprehensive description of the process and requirements for planning and consulting. This is also summarized in the recent Field Notice 2024-15.
Any financial planning or consulting agreement signed on August 15, 2024 or later must adhere to the new guidelines. Planning or consulting agreements signed prior to August 15, 2024 do not require any updates to meet the new guidelines and must be completed based on the agreement as originally signed.
TC143723(0824)1