june 2005 fpa today - c.ymcdn.com · robert c. mcinerney, cfp® thornburg investment management 119...
TRANSCRIPT
1
TODAYPresident’s Message
SAVE THE DATES!
July 19, 2005Quarterly Dinner Meeting
September 20, 2005Fall Retreat
INSIDE THIS ISSUE
President’s Message........................1
Education ........................................6
A Road Map For the Long Distance Job Search .............8
July Quarterly Dinner Meeting Registration Form ....... 10
Membership Report .......................11
Financial Planners CareProgram, A Pro Bono Service.......12
Government Relations ...................14
Public Awareness ..........................16
Study Groups ................................17
Dear FPA Members:
On May 2nd we heldour 18th AnnualSpring Symposiumled by Co-Chairs
Mark Rioboli, Bill Krempa and a greatcommittee. Their leadership and enthusi-asm is a real credit to the meaning of com-mitment to our association and professionalcommunity.
On May 25th we held an exclusive lunch-eon meeting at Lincoln Financial Field,which was hosted by Lincoln FinancialAdvisors. There were over 75 of you thereenjoying a great buffet lunch and listeningto National FPA President Jim Barnashdescribe the commitment National FPA hason supporting you, the members of FPA.Jim also discussed the National FPA goalsand strategies for growing the FPA, the pro-fession and therefore, your practice.
I presented the "Heart of FinancialPlanning" and the commitment we mustmake to our clients and the importance ofunderstanding our core values to do so.
Finally, Jack McCaughan, ManagingDirector of the Philadelphia LFA/Sagemarkoffice, presented "Best Practice" scenarioswhich was designed to share tips with advi-sors seeking to grow their businesses.Afterwards we were all treated to a behind-the-scenes VIP tour of the LINC facility. Agreat time was had by all….if you werethere, we thank you….if not, you missed agreat event.
I would like to say that you have an active
board that have, and continue, in my opin-ion, to go beyond just being volunteers.Without their support and dedication wewould not be able to provide you with thequality programs and services you enjoy asan FPA Philadelphia Chapter member. Iask you, as a member of the association, togive them your support and to considerjoining a committee and get involved withyour chapter. It's a great way to make adifference, while forging new friendships.
Our next event will be the newly createdJuly Quarterly Meeting. We have twogreat topics and speakers. This will alsobe a fun event at a new location…Dave &Buster's on the Philadelphia waterfront atPenn's Landing. Maybe we'll all playhooky that day for a couple of hours andget together and shoot a friendly game ofpool, golf or any of the over 300 gamesthey offer before the Quarterly meetingbegins. As Dave & Buster's slogansays…."RECESS IS CALLING"!!! So, ifyou're not on vacation, why not join us?Look for the flyer in this issue.
As always, I thank you all for your supportof our chapter and look forward to seeingyou in July.
Prosit
Donald Nicholson, Sr.Nicholson & Associates, Ltd.1403 Silverside Road, Suite BWilmington, DE 19810(302) 529-1500(302) [email protected]
FPA Philadelphia Tri-State Area P.O. Box 38 Fairless Hills, PA 19030 888.445.0900 www.fpaphilly.org
www.fpaphilly.org June 2005
The primary aim of the Financial Planning Association is to be thecommunity that fosters the value of financial planning and advancesthe financial planning profession.
Philadelphia Tri-State Area
A Silver Level Chapter
2
2005 Board of DirectorsOFFICERSChairmanMichael N. Mattise, CFP®
(610) 975-0285 fax (610) [email protected]
VP - Human ResourcesDale A. Pope, CFP®
(610) 909-3301 fax (610) [email protected]
Mark Rioboli, CFP®
(215) 585-5326 fax (215) [email protected]
PresidentDonald W. Nicholson, Sr.(302) 529-1500 fax (302) [email protected]
VP- Public AwarenessRobert O. Smith, MS, CFP®
(610) 524-9761 fax (610) [email protected]
Irvin G. Schorsch, III, CFP®
(215) 881-7700 fax (215) [email protected]
President-ElectJohn O’Brien, CFP®
(610) 251-9393 ext 202 fax (484) [email protected]
Chairman - Study GroupsJoseph P. Halpin, CFP®
(610) [email protected]
Connie Stepan, CFP®
(215) 538-5781 fax (215) [email protected]
SecretaryJoslyn G. Ewart, CFP®
(610) 687-3515 fax (610) [email protected]
DIRECTORSElizabeth Donaghy(215) 569-2224 ext 249 fax (215) [email protected]
Pamela Holland-Townsend, CFP®
(610) 766-3051 [email protected]
TreasurerScott Michalek, CFP®
(215) 979-1604 fax (215) [email protected]
G. Eric Faddis, CFP®
(215) 646-3484 fax (215) [email protected]
Stephen P. Wetzel, CFP®
(215) 321-9312 fax (215) [email protected]
VP - DevelopmentJoseph A. Romano, CFP®
(215) 646-1772 fax (215) [email protected]
John Hochschwender, CFP®
(610) 429-4090 fax (484) [email protected]
AdministratorChris Mucci Stewart(215) 295-0729 fax (215) [email protected]
VP - Education/ProgramsJeffrey R. Lauterbach, JD(302) 636-8507 fax (302) [email protected]
Eugene A. King, CFP®, MST(215) 364-9160 fax (215) [email protected]
MARK YOUR CALENDAR
July 19, 2005 Quarterly Dinner Meeting
Hyatt, Penns Landing
September 20, 2005Fall Retreat
PineCrest Country ClubLansdale, PA
November 17, 2005Quarterly Dinner Meeting
Radnor Hotel
November 4-6, 2005 FPA Leadership Conference
Inverness Hotel & Conference CenterEnglewood, Colorado
QUARTERLY DINNER MEETINGSNOW AT A NEW TIME!
4:00pm-7:00pmMiss Rush Hour Traffic Both Ways and Get Home an Hour Earlier! ☺
A SPECIAL THANKS TO OUR18TH ANNUAL SPRING SYMPOSIUM
GOLD SPONSORS
Stephen PfauMorgan Stanley
One Tower BridgeWest Conshohocken, PA 19428
Jim Quance The Life Settlement Alliance
200 East Broward Blvd., Suite 1135 Ft. Lauderdale, FL 33301
Bryan FisherAspen Partners6 Ivy Cliff Drive
Bumpass, VA 23024804-556-4010
Jack Mikus AIG
600 King StreetWilmington, DE 19801Contact: Trish Kauker
Robert C. McInerney, CFP®
Thornburg Investment Management 119 East Marcy Street
Santa Fe, New Mexico 87501877-215-1330 ext. 5253
973-285-3911 (fax)[email protected]
Timothy DriscollGoldman Sachs Asset Management
4900 Sears TowerChicago, IL 60606
Geoffrey Haefner, CFP®
WM Group of Funds220 Warren CourtExton, PA 19341
Steve GeigerLincoln Financial Distributors, Inc.
Delaware Investments2001 Market Street
Philadelphia, PA 19103215-947-8443
Edward RedmondWilliam Blair Funds
222 West Adams StreetChicago, IL 60606
312-364-8864eredmond@williamblaircom
Liz GlinesCapital Trust Company of Delaware
2711 Centerville Road, Suite 210Wilmington, DE 19808
John H. CloughFoward Management3 South Pond StreetNewbury, MA 01951
Charles TaylorSchroder Investment Management
875 Third Avenue, 22nd FloorNew York, NY 10022-6225
Parker NashDavid Tice & Associates
8140 Walnut Hill Lane, Suite 300Dallas, TX 75231
888-778-2327 ext. [email protected]
Mike MillerWestcore Funds
1225 17th Street, 26th FloorDenver, CO 80202
Tim CurvanGlenn GarbuttRick Jameison
Fidelity Advisor Funds500 Salem St., OS1N2Smithfield, RI 02917
800-544-9999 ext. [email protected]
A SPECIAL THANKS TO OUR 18TH ANNUAL SPRING SYMPOSIUM
SILVER SPONSORS
5
For a prospectus containing more complete information, such as risks, charges, and expenses associated with invest-ing in mutual funds, please call 800-548-7786. Please read the prospectus carefully before you invest or send money.Investments and services offered through Morgan Stanley & Co. Incorporated, member SIPC. Employee names havebeen changed to protect their privacy. Morgan Stanley, Client Link, and One Client At A Time are service marks ofMorgan Stanley. © 2003 Morgan Stanley.
Understanding your business is our businessMorgan Stanley Investment Management works with Registered Investment Advisors
to fully comprehend your business and your
clients’ needs. We offer a broad range of tailored services and
investment products, including:
Proprietary Morgan Stanley research
Economic and investment commentaries
Client LinkSM—a private, password-protected Web site customized for RIAs
Institutional pricing and management for Morgan Stanley Institutional Funds
To find out more about Morgan Stanley Institutional Funds and our commitment to
Registered Investment Advisors, please visit us at www.morganstanley.com/im.
The Ambrose Financial GroupA Philadelphia area, (Chadds Ford based) independent RIAand wealth planning firm for over 25 years is looking forexperienced, motivated professionals to be part of an exclu-sive team of successful advisors working with affluent busi-ness owners and executives. We are looking for professionalswith an existing book of business and at least 7 -10 yearspractice experience to work with the principal of the compa-ny to service existing clients and to develop new business andstrategic alliances with local/regional CPA and Law firms.Candidates should have or be on track to obtain CFP designa-tion in 2004-2005.
Position RequirementsBachelor's degree or better.
An average of six digit fee and commission earned over the past three years
NASD Series 7, 63, 65, and insurance licenses preferredExcellent communication and client relationship skills
Phone (610) 388-4424 or (800) 252-4424Fax (610) 388-4430
Email: [email protected]
Allyson SingerTD Waterhouse Institutional Funds
100 Wall StreetNew York, NY 10005
Benjamin CribbsThe Vanguard Group
455 Devon Park Drive Wayne, PA 19087
Dong LeeLegg Mason Institutional Funds
100 Light Street, 3rd FloorBaltimore, MD 21202
A SPECIAL THANKS TO OUR 18TH ANNUAL SPRING SYMPOSIUM
EXHIBITOR SPONSORS
Jay StillmanThe Bancorp Bank1818 Market Street
Philadelphia, PA 19103215-861-7893
Jennifer SchlienzMetropolitan West Asset Management
11766 Wilshire Blvd., #1580Los Angeles, CA 90025
Melissa PrattSincere Company
26 Rolling Meadow Drive, Ste 2AHolliston, MA 01746
John DeVol, CLUBroker Resource Center
53 Darby RoadPaoli, PA 19301
610 889-1640 [email protected].
6
If you don't have ourchapter's quarterlymeetings on your cal-endar you're missing agreat educationalopportunity. OliviaMellan was awesomein March, but youhaven't seen anythingyet. Our specialspeaker in July is
Alexandra Armstrong. Alex's carrier is oneof the most accomplished in financial plan-ning. From the cover of Money Magazine tomultiple appearances on Wall Street Weekand countless other examples of recognition,she has been an inspiration in how to gaincredibility and exposure. But what's soremarkable about this aspect of her career isthat the vast majority of the opportunitiesshe had were generated because of her par-ticipation in industry organizations. She is apast president of the IAFP, past chairman ofthe Foundation for Financial Planning, a for-mer board member of the CFP Board, a for-
mer chapter officer, and a board member ofmany other organizations. In the midst ofall this giving she and her partners alsobuilt one of the nation's most successfulpractices. She has learned much in hercareer, and on July 19th Alex will sharewith our chapter her most important les-sons. Plan to join us at Dave and Busterson the waterfront for this special event.
Our symposium was another strong educa-tional event. 200 members listened to agreat day of speakers and networked atevery opportunity. Thanks to co-chairsMark Rioboli and Bill Krempa and theircommittee members: Chuck Boohar, BurtHutchison, Rosa Kohler, Anita Krische,Paul LaViola, Beth Mastromarino andMartina Wilson-Farmer.
Thanks to Paul LaViola and his committee(Anita Krische, Bryan Saylor, BurtHutchinson, Kathy Holden, Mike Paregian,Vince Dadamo, Rosa Kohler, VickiWooters, Mark Turner, Chuck Boohar and
Beth Mastromarino), the Fall Retreat isshaping up to be yet another great meeting.Most speakers are booked to cover topicsincluding the every two years ethics ses-sion, college funding, income funding forretirement, technology in your practice andhow to work with the press. September20th at Pine Crest Country Club. Watchyour email for details.
Please let me know at [email protected] you have time you are willing to give orideas you wish to share so that our chapter'seducation programs continue to improve.
Continued success,
Jeffrey R. LauterbachThe Capital Trust Company of Delaware2711 Centerville Road, Suite 210Wilmington, DE 19808(302) [email protected]
Education
Define your business goalsclearly so that others cansee them as you do.
- George F. Burns
Your vision will becomeclear when you can lookinto your heart, who looksoutside, dreams; who looksinside, awakens
- Carl Gustav Jung
Every calling is great whengreatly pursued
- Oliver Wendell Holmes
The Capital Trust Companyof Delaware
An Independent Trust Company
Helping You Help Your Clients
•• Personal/Corporate •• Planning •• Expert Advice•• Service
Enjoy the benefits of the nation’s mosthospitable climate and a reliable tradition
of advantageous tax laws.
For more information, contactElizabeth G. Glines, SVP
Chief Marketing Officer800-258-6334 ext. 8505
•• Fiduciary Tax•• Admin Excellence
7
Benefits to you:• Financial independence• No monthly mortgage
payments• Continue to own and
live in your home
• Have a place to bring your family together
• Tax-free cash
• Enjoy your retirement
R E V E R S E M O R T G A G E S
You Can Own
A DreamVacation Home
Trish KaukerBusiness Development Manager
CODE: FPA0605
Call for a FREE Consultation:1–877–244–1532
RegisterToday forthe July
QuarterlyDinner
Meeting!Registration Form on Page 10
Are your clients seeking alternative investments in atraditional investment vehicle?
Prudent Bear Funds offer non-traditional investments in afamiliar mutual fund package.
Prudent Bear Fund (BEARX)Designed to benefit from a declining stock market through short sales,limited use of put options and selected long positions.
Prudent Global Income Fund (PSAFX)Designed to benefit from a weakening dollar and rising gold pricesthrough holdings of foreign government notes and an allocation to pre-cious metals companies.
The fund’s investments objectives, risks, charges, and expenses must beconsidered carefully before investing. The prospectus contains this and otherimportant information about the investment company, and it may be obtained bycalling (888) 778-2327, or visiting www.prudentbear.com. Read it carefullybefore investing.
Please refer to the prospectus for special risks associated with investing inthe Prudent Bear Funds, including, but not limited to, risks involved withshort selling, futures contracts, options and restricted securities and invest-ments in foreign and gold securities.
Quasar Distributors, LLC, distributor
8
"You can have itall. You just can't
have it all atonce."
Oprah Winfrey
Finding a job in the city where you live ishard enough; trying to find a job hundreds oreven thousands of miles away can be eventougher. Not only are you fighting against thejob market in a city you don’t know, you’realso dealing with three big challenges:
Challenge #1:Lack of a business network in the new city
Whether you realize it or not, many job open-ings are filled before they even become publicknowledge. This hidden job market consists ofbusiness and professional contacts who maylet you know of job openings in their area oreven offer you a referral. But how do youbreak into the hidden job market in a long-dis-tance job search?
Solution: A career coach can help you identifypotential networking opportunities—even in along-distance job search. By developing andusing a networking strategy, you will be ableto make meaningful contacts in your chosencity. And knowing someone in the right com-pany or industry can make the differencebetween wanting the job and getting the job.
Challenge #2: Reluctance of employers to
choose outside talent
When an employer can choose among manyqualified candidates who are already local,why should he choose you? Outside talentactually represents a greater risk to employersfor a number of reasons. Reimbursing reloca-tion costs and ensuring a good fit for theemployee in both the job and the region canbe costly. And what if the employee moves,then doesn’t like the area? How do you get anemployer to take a chance on you?
Solution: A professional resume can help
showcase how you are actually adding value forthe employer above and beyond the local candi-dates. A professionally written resume will:o Demonstrate your superior industry
knowledge
o Highlight your strong transferable skills
o Show proof of value through accomplishments with real bottom-line results
Investing in the services of a resume writer willhelp you craft a targeted marketing message thatgets you noticed as a top candidate by employ-ers, no matter how many local people apply.
Challenge #3:Long-distance interviews
There are a lot of downsides to long-distanceinterviews, both for you and for your potentialemployer. Someone has to pay the cost of trav-el. You have to maintain confidentiality withoutarousing your current employer’s suspicions asyou take time off for the interview. And the timeinvolved is much different than just taking along lunch. Is it worth it for you to use up yourvaluable personal leave for a gamble that mightnot pay off?
Solution: There are many interview strategiesthat can actually help you maintain the confi-dentiality of your job search and use thetravel/interview time to maximum efficiency.Hiring a career coach to tailor these strategies toyour particular job search situation can makeyour job search shorter and more effective. Withthe guidance of a career coach, you can mini-mize your risk while improving your job searchskills.
While no one enjoys embarking on a long-dis-tance job search, there are many ways to makeit easier on yourself. Investing in career coach-ing sessions and a professional resume canmake your job search easier by providing you
with a road map to get you exactly where youwant to be. With this valuable tool in your backpocket, you’ll travel the career roads with ease, nomatter which city or job you choose. And that typeof guidance is always worthwhile.
Resume Writer ~ Career Coach
For more in-depth information on resumes, job-search strategy and interview skills, check out the
article archive at my website:www.AlphaAdvantage.com
Email: [email protected]
Toll-free phone: 888-828-0814
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
A Road Map for theLong-Distance
Job SearchDeborah Walker, CCMC
9
Health Insurance Rates Up 15% AgainThis Year?
New Alternative for Planners:One-person group rate now available
New options for groups of 2-9No Medical Questions
Call or email your request for a quote
Hartfield Advisors, Inc.(610) 692-5235
10
Date: Tuesday, July 19, 2005 Time: 4:00PM to 7:00PM Location: Dave & Buster’s, 325 N. Columbus Blvd., Pier 19 North Philadelphia, PA 19106 www.daveandbusters.com
215-413-1951 – Parking $4.00 with coupon secured at event.
4:00 PM- Registration, Networking, Cash Bar & Heavy Hors d’oeuvres
5:00 PM- “Working More Effectively with Widow Clients” 6:00 PM Speaker: Alexandra Armstrong, CFP®, CMFC, Chairman,
Armstrong, MacIntrye & Severns, Inc. 1 CFP® CE Credit, 1 CPE CE Credit, (1 Insurance Credit Pending)
6:00 PM- “Reverse Mortgages and Financial Planning” 7:00 PM Speaker: Trish Kauker, Business Development Manager, AIG Bank
1 CFP® CE Credit, 1 CPE CE Credit, (1 Insurance Credit Pending)
Advance Registration
Name: _____________________________Guest Name:__________________________ Company:_______________________________________________________________ Address: ________________________________________________________________ City, State, Zip:___________________________________________________________ Phone: _____________________ E-Mail: _____________________________________
FPA Member …………… _____ @ $50 ___________ I am a New Member______ Student ………………….. _____ @ $20___________ Non-Member……………. _____ @ $80 ___________ FREE PROSPECTIVE Member _______(Indicate Name above under Guest )
TOTAL $__________ Visa_________ Discover______MasterCard___________ AMEX_____________
Credit Card #______________________________________________Exp._____/_____
Signature:_______________________________________________________________
Make Checks Payable to: FPA Phila. Tri-StateMail To: FPA Philadelphia Tri-State, Attn: Chris Stewart, P.O. Box 38, Fairless Hills, PA 19030 or fax to our secure fax line at 215-295-3652. Call 215-295-0729 with any questions. Cancellation Policy: 48 hours for refund. No-Shows will be billed. FPA Philadelphia Tri-State Area is registered with the NASBA as a sponsor of CPE on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credits. Complaints regarding registeredsponsors may be addressed to NASBA, 150 Fourth Ave., North, Nashville, TN 37219-2417. Web site: www.nasba.org Methods of presentation: Lecture and open discussion. Level of Learning: Overview, Advance Preparartion: None. Prerequisite Knowledge and Experience: None. For additional information on administrative policies such as complaint and refund, please contact Chris Stewart at 215-295-0729.
11
Membership ReportOur total member-ship is just over the900 mark. Our goalis to have 1,000members by year-end. We need everymembers help toacheive this goal.Here is what youcan do:
1. Take advantage of our Member Get aMember Referral Program. If you bring amember in you will receive a $25 Certificatefrom the Chapter that you or your ReferredMember can use to offset the expense of afuture Chapter FPA meeting. You will alsoreceive a $25 Certificate from National thatcan be used to offset your annual dues toNational. Not a bad deal! You need toobtain a membership application and fill inyour name on the "Referred By" line. Yournew member will complete the rest of theapplication and return it to National. Youneed to submit a copy of the application toChris Mucci-Stewart our ChapterAdministrator. She will send your ReferralCertificate within a couple of weeks. You
can obtain membership applications at theregistration desk at our regular meetingsor by contacting Chris or Dale Pope.
2. Talk to your CPA, Attorney and CLUfriends. Take advantage of our "Bring AGuest Free" program. Remember, you andyour guest can also receive continuingeducation (CE) credits for attending ourmeetings. This includes CE for insurance,CFP and CPA's. CPA's and Attorney's canalso be great referral sources for yourbusiness and vice versa.
3. If you belong to other financial servicerelated organizations, i.e. Estate PlanningCouncil, invite your fellow members toattend our FPA meetings.
4. If you know a student who is studyingin any area of financial services encouragethem to join our Chapter as a studentmember.
5. We have many non-member CFP's inour Tri-State area. If you know any ofthese individuals, encourage them to joinour Chapter.
Last, encourage your fellow members toattend our meetings. They will enjoy the edu-cation, fellowship and networking opportuni-ties.
See you at the next meeting!
Dale A. Pope, JD, CLU, RFCVice-President, Human Resources 200 Liberty CourtNewtown Square, PA 19073(610) [email protected]
Membership Committee
Chairman:Dale A. Pope, JD, CLU, RFC
Vice-Chairman:Al Marland, CFP®
John O'Brien, CFP®
John Hochschwender, CFP®
Eric Faddis, CFP®
Welcome New Members!James Kelly, Jr. David Benglian
St. Joseph's University
Catherine Biernacki, CFP®The Vanguard Group
Christopher Camburn, CFP®Merrill Lynch
Don Lowry SEI Investments
James ReaDanial Zajac
Simone Financial ServicesM. Dougherty
Semper Trust CompanyRegan Young
Mercer Global AdvisorsDonald Calcagni
Mercer Flobal AdvisorsJoe Fasy
Financial Planning Position Available
All applicants must send cover letter with salaryrequirements and resume via e-mail to:
S. Vermillion at [email protected]
Radnor Financial Advisors, a fee-only registeredinvestment advisor, seeks a Financial Planner/Analystto support growth of our firm. Series 65 a plus. Thecandidate must be able to multi-task and should pos-sess strong analytical and organizational skills sup-ported by excellent written and verbal skills.Compensation commensurate with requirements of theposition plus attractive benefits (employer paid healthplus 401(k) and Profit Sharing Plan).
12
On March 25, 2005the Pro BonoSteering Committeemet to discuss ourcurrent status andfuture direction. Asummary of themeeting is as fol-lows:
Steering Committeehas 12 members. Planner's sub-committeehas 27 members. A total of 39 FPA mem-bers are involved in the Pro Bono programswith representation from PA, NJ and DE.
Eleven (11) power point slide presentationsare in process of completion. Six (6) arecompleted in draft; the other five (5) shouldbe submit shortly. One (1) additional pres-entation is not assigned, which when com-pleted will give us twelve (12) Pro Bonopower point financial educational tools.Presentations will also include a notes sec-tion to assist Planners with their presenta-tions. Arrangements have been made toconvert the slides to Spanish.
An introductory packet will be prepared toassist Planners with their contacts to non-profit organizations. It will include anexplanation of the programs, a summary ofpower point presentations available, a letterfrom our local chapter President authorizingthe specific Planner to provide Pro Bonoseminars and other information as appropri-ate.
Our Practitioner's Manual will be updatedwhich will explain your role, responsibili-ties and limitations as a Pro Bono Planner.Public Relations (PR) guidelines and con-sultant contact information will be included.
A training program for Planners will be con-ducted to cover the many aspects mentionedabove as well as how you can leverageexisting or new organizational contacts.
Power Point presentations are as follows:
Cash flow & budgetingCredit counseling servicesHUDCoping with debt (credit cards, costs, effects on credit rating, etc.)
Banking (handling checking, title, reconciling, paying bills, etc.) Street loans (costs, pitfalls, vs bank
loans, etc.) Rent or leasing furniture & appliances
(when appropriate, costs, vs buying, etc.) Investing (risk tolerance, asset alloca-
tion, sectors, definitions, rebalancing,investment policy statement, RoR, etc) Education planning (PV, FV, finding
sources, loans, grants, aid departments,etc.)
Financial Planners Care ProgramA Pro Bono Service
"How wonderful it isthat nobody need wait
a single momentbefore starting to
improve the world."
Anne Frank
�������������� ��� ������������
������������ �������������������
�� � �� ��� ��������� ��� ����������� � !�������" ���#�" ������� �����$������������%�������% ��������� ��&� ������������������������ �������������������������������� � �����% ������&� ��� ������� &���������'���(����������������������������������������� �������� )���� ��� ������������ ��&� ���������������� * ���+�%�������% ���"�)���
13
Financial Planners Care ProgramA Pro Bono Service, continued FPA Launches Fresh Identity Statement
Provides simple way to share Core Ideology
Committed to positioning ourselves as the organization of thefinancial planning community, FPA® felt it was increasinglyimportant to have a singular statement that reflects who we are,but also what we aspire for the association.
Out of this vision came a new identity statement: FPA - TheHeart of Financial Planning. Going beyond mere words, FPAseeks to tie a feeling to the organization, a feeling so many of usexperience each and every day. Whether we work with clients orthose who serve them, we help make a difference in their lives.
This statement encompasses our Core Ideology, bringing togetherthose who deliver financial planning, those who support it andthose who benefit from it - reflective of the first three statementsin the Primary Aim.
At last year's Leadership Conference, chapter leaders asked ifthere was a simple way to say the Primary Aim. Our identitystatement serves to provide that.
FPA hopes to embrace this simple yet powerful statement as away to share and practice our Core Ideology. With the help ofour chapters and members, keeping this statement in the center ofour thoughts is key to keeping compassion and integrity in ourwork. FPA is indeed the Heart of Financial Planning!
Buying first home (effects on IRS form1040 tax filing, settlement sheet, deed, title,etc) Retirement planning (PV, FV, inflation,
needs, wants, etc.) Check cashing agencies (costs, pitfalls,
why have bank account, etc.)
Planners have an opportunity to provide ProBono seminars and services which is a wayfor us to give back to the community for thesuccess we enjoy in this industry, while self-ishly generating local media interest for FPAand yourself.
Eugene A. King, MST, CFP®, CSAKing Financial Advisors1631-B Loretta AvenueFeasterville, PA 19053Phone: 215.364.9160Fax: [email protected]
Career OpportunityFinancial Planning Director
CFP® professional needed to managethe financial planning division of anestablished Bucks County fee-onlyfinancial planning/advisory firm.Candidate should possess strong clientskills and be well versed in planningsoftware. Salary and incentive to buildown client base available.
Please e-mail resumes to:[email protected]
FPA GovernmentRelations AdvocacySite Online. For thelatest information onadvocacy issues,please go tohttp://www.fpanet.org/member/govt_relation/index.cfm.The GR web sitecontains recent FPA
comment letters, links to important CFP®professional issues, securities, insurance,and tax information.
FPA Files New Lawsuit Against SEC. TheFinancial Planning Association® (FPA®)filed a petition on April 28 in the UnitedStates Court of Appeals for the District ofColumbia Circuit challenging the Securitiesand Exchange Commission's (SEC) finalrule exempting certain broker-dealers fromthe requirements of the Investment AdvisersAct of 1940 (the 1940 Act or Act)."FPA believes that the Rule is contrary tolaw and encourages broker-dealers to engagein self-dealing with their clients without dis-closing their conflicts of interest," saidJames A. Barnash, CFP®, FPA president."Although FPA recognizes that the SECenhanced certain disclosure requirements forbrokerage customers in the Final Rule, weare convinced that it is nonetheless contraryto the public interest and will harm con-sumers by formalizing two different levelsof consumer protection for the same adviso-ry services." To view the full release, visitwww.fpanet.org/member/press/releas-es/042805_newsuit.cfm
Broker and Investment AdviserDisclosure Legislation Passed by U.S.House. For a number of years, NASD hasprovided information to investors on requestregarding broker-dealers and registered rep-resentatives. However, they have limited theinformation given out, most of which istaken from the Central RegistrationDepository (CRD), because of liability con-cerns. On April 6th, the U.S. House ofRepresentatives passed by voice vote H.R.1077, the "Realtime Investor ProtectionAct." The bill updates the information
NASD will make public, approves use of theInternet for disclosures, limits NASD's lia-bility and authorizes reasonable fees to becharged. In addition, the North AmericanSecurities Administrators Association(NASAA) got an amendment added to thebill that requires a similar public disclosuresystem regarding information about SEC andstate-registered investment advisers and rep-resentatives. While not stated in the bill, it isexpected that NASD will be the disclosingentity. Finally, the bill authorizes the SEC todesignate an alternative filing depositorywith which investment advisers should filerequired reports. The text of the bill can befound by going to http://thomas.loc.gov andsearching for H.R. 1077.
Help FPA Represent YourInterests In Washington.
The Financial Planning Association'sPolitical Action Committee (FPA-PAC) was created to support candidates for fed-eral office who have demonstrated supportfor the financial planning profession andissues of interest to financial planners. Itis a valuable tool that can enhance ourefforts to represent your interests inWashington and ensure FPA's voice isheard. Contributions to FPA-PAC areentirely voluntary. Please help FPA sup-port your interests in Congress by givinggenerously to FPA-PAC.
Government Relations
14
*As of December 31, 2004© 2005 Goldman, Sachs & Co., member NASD. All rights reserved.FOR FINANCIAL INSTITUTION USE. NOT FOR DISTRIBUTION TO THE GENERAL PUBLIC.
With more than $420 billion* in assets under management, Goldman Sachs Asset Management servesinstitutional, governmental and individual investors worldwide. Access world-class mutual funds, managedaccounts and model portfolios; innovative technology including globalcash.gs.com; and Catalyst, a wealthmanagement program that delivers portfolio management, risk assessment, financial planning and practicemanagement expertise.
To learn how we can work with your organization, call (888) 444-1151.
A prospectus for the Goldman Sachs Funds containing more complete information may be obtained from yourauthorized dealer or from Goldman, Sachs & Co. by calling 1-800-526-7384. Please consider the Funds’objectives, risks, and charges and expenses, and read the prospectuses carefully before investing. Theprospectuses contains this and other information about the Funds.
THE EXPERTISE BEHIND YOUR FUNDS
IS AS IMPORTANT AS THE NAME IN FRONT OF THEM.
Wealth management services from Goldman Sachs Asset Management
15
YES! I want to contribute to FPA-PAC.Enclosed is my personal contribution inthe amount of:$25 $50 $100 $250 $500 $Other
______Please charge $________ to my personalcredit card.Visa Mastercard American ExpressAccount # ________________________ Exp. Date __________
Signature__________________________________
Prefer an incremental credit card pay-ment plan? See Below.
Contributions to FPA-PAC are notdeductible for federal income tax purpos-es. Contrib-utions made by corporatecheck cannot be accepted, however, soleproprietorship monies are acceptable. OnlyU.S. citizens and persons admitted to theU.S. for permanent residence may con-tribute to FPA-PAC. Federal governmentcontractors are prohibited from contribut-ing. All contributions prohibited by law
will be returned to the sender. Federal lawrequires political action committees toreport the name, mailing address, occupa-tion, and name of employer for each indi-vidual whose contributions aggregate inexcess of $200 in a calendar year.Make checks payable to FPA-PAC andmail to:
Treasurer, FPA-PAC1615 L Street, N.W., Suite 650Washington, DC 20036202.626.8770 Fax: 202.626.8233
Name_________________________________Please print
Occupation_____________________________
Firm__________________________________
Firm Address___________________________
City ___________ State____ Zip _____
Credit Card Pledge Authorization FormI authorize FPA-PAC to charge my creditcard: VISA Mastercard Amer Exp(circle one)account #_________________________ expiration date ___________once every 12 weeks per calendaryear over a 12-month period beginningwith the date of receipt. I understand myaccount will be charged every 12 weeksunless I request termination of this chargeagreement. I further understand that I willreceive an email confirmation as a recordof each transaction.
Signature:__________________________Date: _____________________
Robert O. Smith, MS,CFP®,CSA®,CLTCComprehensive Financial Advisers561 Exton CommonsExton, PA [email protected]
Government Relations, continued
DON’T BE LEFT OUT!DO WE HAVE YOUR CORRECT EMAIL ADDRESS?
PLEASE CHECK BY LOGGING ONTO OUR WEBSITE AT:WWW.FPAPHILLY.ORG
OR EMAIL: [email protected]
WITH YOUR CURRENT EMAIL ADDRESS.
WE DON’T WANT YOU TO MISS ANY IMPORTANT ANNOUNCEMENTS!
FPA-PTSA MediaParticipation Team.Our chapter's associa-tion with Perception,Inc., a public rela-tions firm, is helpingus promote the valueof working with anadvisor and creatingmore visibility for theFPA-PTSA and theCFP® license. Media
opportunities consisted of serving as sourcesfor newspaper articles, a special supplementon retirement planning in the May 12th issueof the Philadelphia Inquirer, and several tele-vision appearances.
The media is starting to recognize the value ofworking with FPA members regarding finan-cial issues. While the team's effort in submit-ting weekly story ideas to generate mediaopportunities has so far been disappointing,unsolicited requests from the media are pick-ing up momentum. This is a case where per-sistence and determination truly are the keysto success.
Financial Planning Awareness Week(October 3rd - 9th). Pamela Holland-Townsend is coordinating the activities forthis week's events. Activities like proclama-tions, community involvement (education at
libraries and schools) and media segments.The past couple of years we have even beenable to have the announcement brightly dis-played on the PECO sign at the top of theirbuilding in Philadelphia. Efforts are under-way to coordinate are chapters activitieswith other FPA chapters across the nation.
As you may recall from our last newsletter,we were trying to host a Gala as the mainevent during the week, but scheduling theevent during this week is not feasible andso we are exploring the possibility of hav-ing this event later in the year. The eventmay be tied to a local charity, includeawards (one might be for the media personwho had the most impact on promoting thebenefits of financial planning), and mightinvolve local celebrities to help promote theevent, such as, the Eagles. Mike Mattise iscurrently researching this opportunity forwhat could become our chapter's signatureannual event. This would be a significantundertaking and we would need the supportof our members to make an event like this asuccess.
Newsletter and Web Site. Four issues ofour newsletter are scheduled to be distrib-uted in March, June, September, andDecember via email notification and postedon our web site. Even past issues of thenewsletter can be viewed on our web site
under the Members section.
Have you taken a look at the PFA-PTSAweb site lately? The address is www.fpa-philly.org. View the latest informationabout our chapter meetings under theCalendar of Events. Now you can even reg-ister for our meetings online. Go to ourMembers section for presentation hand-outs, to view the newsletter, and for studygroup information. Looking for a newemployee, then post you classified ad inour Jobs Listing section? It's free and youenter the information yourself with the easyto follow instructions. Take the time tocheck it out and see how you might be ableto become more involved in your FPAchapter activities.
Robert O. Smith, MS,CFP®,CSA®,CLTCComprehensive Financial Advisers561 Exton CommonsExton, PA [email protected]
Public Awareness
The Benefits of FPA-PTSAMembership Just Got Even Better! Beginning in 2005 the Board implemented a new
rate schedule for advertising in the QuarterlyNewsletter. All members receive a
50% discountfrom the regular advertising rates!
Members may also place classified ads in theNewsletter & on the FPA-PTSA website FREE!
FPA-PTSA 2005 Regular Advertising Rates
50% DiscountAd Size Non-Member Price Member Price
Full Page $600 $300
1/2 Page $300 $150
1/4 Page $150 $75
Full Page (4X) $2000 $1000
1/2 Page (4X) $1000 $500
1/4 Page (4X) $500 $250
* For more information about advertising, please contact our NewsletterEditor, Johanna Walters at [email protected] or 610-466-9497
16
17
The FPA Study Groups offerall members an opportunityto meet and interact withother members as well as toobtain ContinuingEducation Credits.
To continue to improve thecontent of our meetings,please contact the StudyGroup Leader, in your geo-
graphical area, about financial topics that interestyou. Also, please provide the names of people thatwould like to make an educational presentation toour Study Groups.
Joseph P. Halpin, CFP®
Chairman, Study GroupsJ.P.Halpin & Co., LLC1604 Bane WayWest Chester, PA 19380610-431-1036 [email protected]
Study Groups
Jenkintown GroupPaul Giangiulio 215-947-9190
-OR-Jim Dresselaers, CFP®800-667-0952Valley Financial Group, Inc. 380 Red Lion Road, Suite 101Huntingdon Valley, Pa. 19006
Jersey Shore GroupLarry R. Schneider, JD, CFP®[email protected] American Express Financial Advisors 2000 Shore Road, Suite 201Linwood, N.J. 08221 Schedule: 3rd Thursday of each quarter (4:30 PM - 6:30 PM)Location: call/email Larry
Main Line GroupJoseph P. Halpin, CFP®[email protected]: 1st Wed. of Feb., April, Oct., Nov. & Dec. (8:00 AM - 9:15 AM)Location: Planco/Hartford1500 Liberty Ridge DriveWayne (Chesterbrook) PA. 19087
Delaware/West Chester GroupRobert S. Pennartz, CFP®[email protected] HouseCenterville, DE 19807 Location :Concord Plaza, Silverside Rdnear Concord Pike, Talleyville, DESchedule:Call/email Bob
HELP WANTED South Jersey
Allentown Wilkes-Barre/ Pocono
We are looking for GroupLeaders for the South JerseyGroup, the Allentown Group,and the Wilkes-Barre /PoconoGroup. If you are interested,please contact Joe Halpin at
18
THANK YOU SPONSORS!GOLD SPONSORS
Stephen PfauMorgan Stanley
One Tower BridgeWest Conshohocken, PA 19428
Jim Quance The Life Settlement Alliance
200 East Broward Blvd., Suite 1135 Ft. Lauderdale, FL 33301
800-871-9440
Bryan FisherAspen Partners6 Ivy Cliff Drive
Bumpass, VA 23024804-556-4010
Jack Mikus AIG
600 King StreetWilmington, DE 19801
Trish Kauker302-661-8977
19
THANK YOU SPONSORS!SILVER SPONSORS
Robert C. McInerney, CFP®
Thornburg Investment Management 119 East Marcy Street
Santa Fe, New Mexico 87501877-215-1330 ext. 5253
973-285-3911 (fax)[email protected]
Timothy DriscollGoldman Sachs Asset Management
4900 Sears TowerChicago, IL 60606
Geoffrey Haefner, CFP®
WM Group of Funds220 Warren CourtExton, PA 19341
Steve GeigerLincoln Financial Distributors, Inc.
Delaware Investments2001 Market Street
Philadelphia, PA 19103215-947-8443
John H. CloughFoward Management3 South Pond StreetNewbury, MA 01951
978-463-2114
Michael KangSchroder Investment Management
875 Third Avenue, 22nd FloorNew York, NY 10022-6225
212-641-3881
Mike MillerWestcore Funds
1225 17th Street, 26th FloorDenver, CO 80202
800-734-9378
Parker NashDavid Tice & Associates
8140 Walnut Hill Lane, Suite 300Dallas, TX 75231
888-778-2327 ext. 177
Liz GlinesCapital Trust Company of Delaware
2711 Centerville RoadSuite 210
Wilmington, DE 19808800-258-6334.
Edward RedmondWilliam Blair Funds
222 West Adams StreetChicago, IL 60606
312-364-8864
Tim CurvanGlenn GarbuttRick Jameison
Fidelity Advisor Funds500 Salem St., OS1N2Smithfield, RI 02917800-544-9999 ext. 6115