Center Partner Melissa Joy Tapped for All-Star Team

Melissa received national recognition last month as one of eight people picked by Financial Advisor and Private Wealth magazines for the Inaugural Research Manager All-Star Team. She was featured in an article titled "Making the Cut" in the January 2012 issue of Financial Advisor Magazine.

"Melissa Joy doesn't take things at face value, especially when it comes to investing," the article said. "As a partner at the Center for Financial Planning...she digs beneath the surface of the investments her firm offers to get a good look at what's really under the hood."

As Director of Investments, Melissa has been able to do something she's always enjoyed. "I've loved research since my geeky days in high school debate. I am so fortunate to have found a profession where I can hone those research skills. I get to kick the tires of different investment options and discuss investing with numerous money managers on behalf of our firm and clients. Recognition like this was unexpected and is truly icing on the cake!"

Disclaimer:
Award was based on job function of the person evaluated, fund selections and evaluation process used, study of rejected fund examples, and evaluation of challenges faced in the job and actions taken to overcome those challenges. Evaluations were independently conducted by Financial Advisor Magazine.

Gunthers Make Landfall in Landfall

It was hard to leave our beloved Michigan, but Ron and I put down roots in Landfall, a large community  near the beach on the outer edge of Wilmington, NC.  Picture not one, but two golf courses (lovely, even though we don’t golf), a great sports facility, 25 tennis courts, pool and work out rooms (that’s where you’ll find us most days).  It’s not a traditional retirement community. In fact, we have over 1000 kids in Landfall. Our neighborhood is mostly seniors but we love the mix of ages throughout.  What we noticed early on was how friendly and welcoming the people are here.

Ron and I truly enjoy the many opportunities this university town provides—we find ourselves on campus many times a month for lectures and classical concerts, recently seeing the Soweto Gospel Choir from South Africa.  We love the live theatre and the fun people the film industry brings to town plus, down here you get to hear “real” blue grass music.

But despite the beaches and beauty, Wilmington isn’t all culture and charm. Now that Wilmington is home, we also see need. I am on the board of directors for the Landfall Foundation, raising money for nonprofit organizations in our community. Luckily, this is an affluent area and the commitment of the folkshere involved in the foundation is inspiring.  Since 1995, the Foundation has given over $2.4 million to carefully screened non-profits in the areas of education, health and welfare, and the arts. Additionally, I represent our foundation on an advisory board at the University, focusing on Quality Education for Non Profit Organizations (QENO). Running seminars and classes for directors and boards of non-profits, we help them to be more effective and efficient.

Ron is taking a more hands-on approach, donating several mornings a week to our local food bank.  He is also on our neighborhood board of directors. We both find it rewarding to get involved in our new community and to have the chance to give back.

Michigan is and will always be in our blood.  We take people to task when they talk about the car industry and I proudly wear my Detroit T-shirt when I work out.  Of course, we miss home, but most of all we miss friends.  Clients are special friends, you know, and the Center is a very special place.  As I learned in Girl Scouts, “Make new friends and keep the old, one is silver the other gold”.  Aren’t we lucky to have both in our lives?  Our doors are open to visitors.  We make good tour guides and if you’re not careful, you might fall in love with Wilmington, too!

Sandy Adams Appointed to the Wayne State University Institute of Gerontology’s Board of Visitors

Sandy Adams was recently appointed to the Board of Visitors for the Institute of Gerontology (IOG) at Wayne State University.  Sandy, who also serves on the Legal and Financial Advisory committee for the IOG, has served as the liaison to the Board of Visitors for the last two years.  “I am very excited to be involved with the Institute of Gerontology through the Board of Visitors to assist in further research, outreach and advocacy for older adults,” Sandy expressed, of her recent appointment.

 The Board of Visitors is a selected group of individuals with a commitment to and support of the mission of the Institute of Gerontology at Wayne State University.  They serve the IOG on a volunteer basis by assisting in fundraising activities, providing advisory council to the Director and select staff and by acting as ambassadors in the community. Center for Financial Planning, Inc.  continues to be a partner of the Institute of Gerontology,supporting the IOG’s mission to conduct research in the social and behavioral sciences and cognitive neuroscience to issues of aging and urban health.  The IOG uses this research to provide further education to the professional community and the public through outreach and professional partnership.

Where in the World is Marilyn Gunther?

When you retire from Michigan, it seems like you have one of two choices. Florida or Arizona. So how did we Gunthers end up with a forwarding address of Wilmington, North Carolina?  And where the heck is Wilmington, North Carolina, for that matter?

Well, it’s in the southeastern corner of the state, a little more than an hour north of popular vacation destination Myrtle Beach.  Located on the Cape Fear River, the town is surrounded on the east with inter-coastal islands and beaches. With a population of 110,000, this port town is also a college town with a beautiful campus of the University of North Carolina at Wilmington (13,000 students) and a thriving Cape Fear Community College.

Home to a major Coast Guard Cutter, Wilmington also boasts the largest film studio outside of LA. It has a diversified economy with major facilities of Corning, Inc., General Electric and several drug research and development firms and during the last decade this area took part in the housing boom. Our climate is subtropical, sunny, and mild (think 50’s in January and 80-90 degrees in August). Trust me, Ron and I don’t have to twist any arms to get our family to come visit.

No, I didn’t take up a job with the Chamber of Commerce. And no, I’m not making a case for you to retire here too, however …

There’s a rich history too! Wilmington was the last port to close before Lee surrendered, ending the Civil War.  The town was left alone, relatively off the beaten path, and did not begin to flourish until the 1980’s when I-40 was built to bring Raleigh folks to the beaches.

For those of us who have been coming here for years, Wilmington was a well-kept secret.  The secret is out.  The beaches are pristine (a favorite of surfers), the restaurants great, the riverfront walkway fun, and the historic homes and gardens lovely.   The blend of college students, well-off young retirees, senior citizens and dock workers provide an interesting and often time colorful mix. We are not spit and polished — upon close inspection, you’ll find dirt under Wilmington’s fingernails. 

Important 1099 Information for Tax Season 2011

As you prepare for the 2011 tax season, please consider this important information.  Due to the Economic Stabilization Act of 2008 and the IRS mandated reporting of cost basis, this tax season will not be like previous ones.  By being aware of these changes, you will know how best to plan and set expectations.

New mailing dates

Raymond James will adhere to the IRS's 1099 mailing deadline, which means original 2011 Composite Statement of 1099 Forms will be mailed on February 15, 2012.  Please note the exceptions immediately below.

Delayed 1099s

In an effort to capture correct data on original 1099s, the IRS allows us to extend the mailing date until March 15, 2012 for clients who hold particular investments or who have had specific taxable events occur.  These include:  

•  Mutual Funds
•  Real Estate Investment Trusts (REITs)          
•  Widely Held Fixed Investment Trusts (WHFITs) 
•  Original Issue Discount (OID) securities
•  Gain/Loss activity

Amended 1099s

Even after delaying the 1099 statements, please be aware that adjustments to your tax forms are still possible. Raymond James is required by the IRS to produce an amended tax statement if notice of such an adjustment is received after the original 1099 has been produced. There is no cut-off or deadline for amended 1099 statements.     

Due to the IRS's mandatory cost basis reporting requirement, it is expected that clients will see a significant increase in both delayed and amended 1099s for 2011.

What can you do?

Given the expected increase in both delayed and corrected 1099 tax forms for tax season 2011, you should consider talking to your tax advisor about whether it makes sense to file an extension with the IRS to give you additional time to file your tax return, particularly if you hold any of the aforementioned securities or if you have sold securities, either through a direct trade or indirectly through a corporate action or any other event during 2011.

If you receive a corrected 1099 after you have already filed your tax return, you should consult with your tax advisor about the requirements to re-file based on your individual tax circumstances. 

We hope you find this additional information helpful. Please call us if you have any questions or concerns about the upcoming tax season.