WOLF & CO Events FMS Annual Conference

FMS Annual Conference


June 14, 2021


Charles J. Frago, CPA


Richard C. Fay, CPA



Location: Washington, D.C. & Virtual

Charlie Frago will be speaking on the topic 2021 Tax Changes on the Horizon and their Impact on Your Financial Institution on Sunday, June 14 at 3:30 pm.

With every change in presidential administration comes the possibility of significant tax law amendments. President-elect Biden’s proposed tax plan suggests a large overhaul of the current regulations, and institutions need to begin assessing the necessary tax planning opportunities to align with the possible new laws. The market is predicting that Biden’s proposed tax plan will significantly reverse much of President Trump’s tax act set in 2017—meaning that taxes will likely increase, and institutions will have to plan accordingly. In this session, we’ll take a look at what might occur after the enaction of Biden’s plan (though subject to change), how you should prepare for these amendments, and strategies to handle tax reform reductions.

You’ll learn:
• Tax deduction considerations—methods to postpone deductions into a higher tax rate regime
• How to efficiently accelerate income in a rising tax rate environment
• How to consider reversing many of the tax planning strategies initiated by your bank in 2017 after the passage of the Tax Cuts and Jobs Act of 2017

Rich Fay will be speaking on the topic Fintech and Bank Alliances: The Future is Here on Monday, June 15th at 11:30 am.

For years, fintechs and banks have maintained a strict pattern of competition—battling for similar audiences and clients. But things are changing. Financial institutions and fintechs have begun to realize the advantages of partnerships, leading to groundbreaking transactions and revolutionary innovations. During this session, we’ll discuss the benefits of fintech-bank partnerships, strategies for successfully entering into these relationships, and how banks can implement fintech. You’ll also get an inside look at what banks are looking for in potential fintech partners, and how fintechs can become more attractive to banks.

You’ll learn:
• How fintechs can increase their chance for bank investment
• Recent trends and companies pioneering this movement
• Specific ways fintechs and financial institutions can complement each other


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