TheStreet

How to Make the Great Resignation Possible

By Sandy Adams, CFP®

7/14/2022 – The Great Resignation is happening at the same time as some of the most volatile markets and highest inflation in years. But that doesn't mean it's a bad idea.

TheStreet

Are You Prepared to Handle Your Parents’ Estate?

By Sandy Adams, CFP®

5/11/2022 - There’s good news and bad news. Bad news: your parents may not have their estate in order, and you may not know where to start. Good news: there are solutions.

TheStreet

What is a Retiree’s Biggest Fear?

By Sandy Adams, CFP®

3/24/2022 – It’s not the fear of running out of money. Not the stock market either. Nor loneliness. It’s this.

CNBC

Mom or Dad Moving In? What to Know About Becoming a Caregiver

Quotes from Sandy Adams, CFP®

3/18/2022 – If you're nearing the point of being a caregiver for another adult due to their illness or disability, it's worth doing what you can to prepare for it. Sandy is quoted explaining ways to do just that.

MarketWatch

How Your Financial Adviser Can Help You Process Grief After the Loss of a Loved One

Quotes from Sandy Adams, CFP®

3/8/2022 - With the loss of many loved ones over the past two years, advisers are offering more support and exploring new ways to comfort clients in mourning. Sandy is quoted explaining her approach to providing support around topics related to illness, death, and grief.

TheStreet

Encouraging Your Parents to Plan

By Sandy Adams, CFP®

1/14/2022 – Sandy explains how to begin the process of establishing a solid financial plan for your parents and what should be included to keep them on track.

TheStreet

Ask Bob: Can Social Security Deny Spousal Benefits?

Quotes from Nick Defenthaler, CFP®, RICP®

1/13/2022 – Nick describes how one rule might have the potential to interfere with receiving benefits.

TheStreet

Following Up the Family Meeting — Steps to Preserve Family Wealth

By Sandy Adams, CFP®

5/19/2021 ‐ Parents who have done their planning, feel secure in knowing they will have sufficient assets to support themselves and enough to leave their heirs. Here are some steps you can take following a family meeting that can help preserve overall family wealth.

moneygeek

Expert Insight on Affordable Homeowners Insurance

Quotes from Sandy Adams, CFP®

5/11/2021 – Sandy explains ways to save money on homeowners insurance.

moneygeek

Credit Score Influence on Insurance Rates

Quotes from Sandy Adams, CFP®

5/11/2021 – Sandy explains why companies use credit as a factor to set car insurance rates and steps can drivers take to improve their credit and lower their car insurance premiums.

moneygeek

Car Insurance for College and High School Students

Quotes from Sandy Adams, CFP®

5/11/2021 – Sandy answers top car questions and provides insight for first time buyers.

AARP

5 Mistakes Couples Make When Planning for Retirement

Sandy Adams, CFP® is quoted

5/1/2021 – Having a different vision than your partner will inevitably lead to conflict. Here are 5 tips to help smooth the process. Our Sandy Adams is quoted explaining point #3, “Not agreeing on investment strategy”.

The Wall Street Journal

When to Give Inheritance Money to Your Kids

Jacki Roessler, CDFA® is interviewed

4/30/2021 – Should an inheritance be strictly an inheritance, to be left to children when their parents die? Or should parents use at least some of that money while they’re still alive to help out their adult children financially? And if parents give while they’re alive, how much should they give and when?

IMPACT COMMUNICATIONS

Swift Chat with Wyman and Trujillo: Succession Planning Tips for Financial Advisors

An interview with Tim Wyman, CFP®, JD, and Matt Trujillo, CFP®

4/6/2021 – Wyman and Trujillo speak about internal succession planning for financial advisors and how our 35-year-old firm creates career paths and partnership opportunities for next generation talent.

ThinkAdvisor

Creating an Intentional Path to Partnership Can Produce Lasting Benefits

By Tim Wyman, CFP®, JD

4/2/2021 ‐ The experience for clients and team members of the firm is directly tied to the health and effectiveness of the partner group — at least that’s been our experience in our multi‐partner advisory firm of 35 years. Managing partner Tim Wyman explains how we did it.

TheStreet

Make Family Meetings a Part of Your Overall Financial Plan

By Sandra D. Adams, CFP®

03/25/21 - A family meeting can provide an emotionally enriching experience for you and your family, while also covering the nuts and bolts of your estate plan.

AARP

Starting to Save for Retirement at 50? Here's What to Do

Quotes from Sandy Adams, CFP®

3/3/2021 - If you're 50 or older and are worried about retirement, consider the methodical approach outlined in this article and recommended by financial planners across the country. Our Sandy Adams is quoted explaining how to stay invested.

Bloomberg Businessweek

Seven Ways to Trick Yourself Into Making Sound Financial Choices

3/2/2021 - Take advantage of insights from behavioral economists. The Center is quoted explaining the brain trick of putting your savings in a separate account (where you’re less likely to pull from unnecessarily). Read more for 6 other tips!

Legal Zoom

Personal Finance Lessons From COVID-19

Quotes from Sandy Adams, CFP®

2/22/2021 - The stress of the virus also strained personal finances, revealing weak spots created from a lack of savings and liquidity or an abundance of debt. Here are 5 takeaways from the pandemic that can help build a stronger financial future for you and your family.

WXYZ

Easy ways to build up your savings amid the pandemic

Interview with Bob Ingram, CFP

2/18/2021 – At a time when Michigan's unemployment rate is up again, climbing to 7.5% in January, saving money may seem like a luxury. After all, many are trying to make ends meet today. Our Bob Ingram shares his expertise on how to save money during this time.

The Street

Four Steps to Manage the After-Sandwich Generation Years

By Sandra Adams, CFP®

1/13/2021 - Beyond the "sandwich generation" is a multi-faceted, mid-generation danger zone that could put your retirement in jeopardy. Adviser Sandra Adams outlines four steps to help manage through this life phase.

Authority Magazine

Josh Bitel of Center for Financial Planning: The 5 Essentials for Smart Investing

Profile of Joshua Bitel, CFP®

11/25/20 – Josh Bitel was profiled in Authority Magazine on “The 5 Essentials for Smart Investing.”

FOX Business

HOW TO CHOOSE A HIGH-YIELD SAVINGS ACCOUNT

Kali Hassinger, CFP® is quoted

11/24/20 – Kali is quoted in this piece as saying, “Be sure that the rates advertised aren’t just high introductory rates lasting only a limited amount of time or that the high rate advertised isn’t only on a portion of the balance held.”

Authority Magazine

Bob Ingram of the Center for Financial Planning: 5 Things Retirees Say They Wish They Were Told Before They Began Retirement

Profile of Robert Ingram, CFP®

11/20/20 - Bob Ingram was profiled in Authority Magazine on “5 Things Retirees Say They Wish They Were Told Before They Began Retirement.”

TheStreet

Deciding Where to Live in Retirement

11/18/2020 - Our Sandy Adams, CFP® explains how to choose a location for retirement. There are several key points to consider like living near family or friends, weather, and access to healthcare.

bitbean: CEOs Speak

BEING AN EFFECTIVE LEADER DURING TURBULENT TIMES

Profile of Kali Hassinger, CFP®

11/18/20 – Kali was interviewed on the topic of being an effective leader during turbulent times.

Authority Magazine

Kali Hassinger of Center for Financial Planning: Five Things You Need To Be A Highly Effective Leader During Turbulent Times

Profile of Kali Hassinger, CFP®, CDFA®

11/17/20 – Kali Hassinger was profiled in Authority Magazine on “Five Things You Need To Be A Highly Effective Leader During Turbulent Times.”

ThinkAdvisor

5 HUMBLE SUGGESTIONS ON TRANSITIONING CLIENTS TO JUNIOR ADVISORS

Article by Nick Defenthaler, CFP®, RICP, Partner

11/2/20 – Nick Defenthaler offers advice to older advisors on how to transition clients to younger advisors. Client transitions are no easy task. Spending the time to map out a transition plan is critical. The Center can help develop a succession plan for making a smooth transition for retiring advisors.

WealthManagement.com

DEVELOPING NEW CLIENTS REMOTELY

Quotes from Timothy Wyman, CFP®, JD, Partner

10/17/20 ‐ New business development in the time of coronavirus means making some big changes. For some advisors, the answer is looking beyond COVID‐19. Tim Wyman of Center for Financial Planning is forging ahead with completion of an “education room” for up to 60 people. With the office empty for months during sheltering‐in‐place orders, the company was able to go ahead with construction with a minimal amount of disruption. “When we can meet in person again, we want to immediately be in a position to host educational events that have generated significant business in the past,” he says.

WealthManagement.com

ADVISORS STRUGGLE TO REOPEN OFFICES

Quotes from Lauren Adams, CFP®

10/7/20 – Lauren Adams, Director of Operations, is quoted in this article on re-opening offices on how The Center has taken advantage of this time to complete renovations that will help the firm move forward after the pandemic: with an empty office, it’s a good time for construction. The Center is adding more private offices and reconfiguring a conference room, knocking out a wall to make it bigger. Their 11,000-square-foot office space opened July 4, with a 20% cap on the number of employees allowed in the office at one time. She also commented that The Center created a seven-employee committee to research the Centers for Disease Control and Prevention (CDC) and state recommendations and come up with a plan. The group also led a virtual hour-long companywide training session to kick off the office’s reopening.

U. S. News

Am I Saving Too Much for Retirement?

9/23/2020 – While many individuals may not be putting away enough in their nest egg, the flipside could also be true. “It’s hard to think of the possibility of saving too much, but diligent savers and investors are sometimes able to reach their savings goals prior to their actual retirement date,” says Kali Hassinger, a certified financial planner at the Center for Financial Planning, Inc. in Southfield, Michigan. After reaching their goals, super savers may go above and beyond the amount needed to carry out their lifestyle as retirees.

Bankrate

3 ways to know if your 401(k) is too aggressive

09/22/2020 - A 401(k) retirement plan is one of the most popular ways to save money for retirement and score some tax breaks for doing so. But often these plans don’t provide a lot of guidance on how to manage them, and participants end up with wildly aggressive portfolios, or, what experts often see, a portfolio so conservative that it barely budges year after year. Matt Trujillo is quoted about the importance of establishing balance between being too aggressive and too conservative in your retirement plan. Here’s how to see if your 401(k) is too aggressive and, if so, some steps you can take to fix it.

The Street

The Importance of Post-Retirement Financial Planning

9/4/2020 – Once you reach your retirement goals, are you done planning? Unfortunately, not quite! Sandy Adams, CFP® points out that post-retirement is when clients will likely need assistance the most. So, what issues might require the ongoing expertise of a financial planner? Adams explains.

Crain’s Detroit Business

INVESTMENT MANAGERS TRY TO KEEP CLIENTS FROM GETTING SEASICK AS MARKET CRESTS AMID ROUGH ECONOMY

Featuring our Angela Palacios, CFP®, AIF®

08/23/2020 - Palacios, like the majority of the 17 interviewees, believes in the strength of buying gold, which just hit a record high this August.

Crain’s Detroit Business

MONEY MANAGERS WEIGH IN ON THEIR INVESTING LIKES, DISLIKES AND WHAT THEY AVOID LIKE A VIRUS

Featuring our Angela Palacios, CFP®, AIF®

08/23/2020 - Our Director of Investments Angela Palacios, CFP®, AIF® is featured among 17 top local wealth advisors. Palacios likes gold and gold-mine companies, high-yield municipal bonds, and fixed annuities. She dislikes U.S. large caps and commercial real estate. Her advice? In the current state of things, anticipate the possibility of greater inflation.

Authority Magazine

5 Things Retirees Say They Wish They Were Told Before They Began Retirement

By Sandra D. Adams, CFP®

8/19/20 – Sandra Adams profiled in Authority Magazine on her history in the industry and joining Center for Financial Planning. Adams also discusses the five most common things that people wish someone told them before they retired, including how to keep your mind sharp for ongoing cognitive health in retirement. Additionally, she focuses on the issue of solving the unpaid caregiving problem in our country.

WealthManagement.com

SUCCESSION PLANNING IN AN EVOLVING WORLD

By Timothy Wyman, CFP®, JD

08/2020 - A successful succession plan achieves a triple win for clients, retiring advisors, and current firm leaders. The journey has not been easy and requires a significant investment of time and money, but the effort has been well worth it.

Advisor Perspectives

Three Reasons to Own Individual Stocks in an Efficient Market

Quotes from Lauren Adams, CFA®, CFP®

07/25/2020 - While skeptical that selling individual stocks will beat the market long-term, Adams explains the 3 main reasons to own them.

The Wall Street Journal

How to Make Money Decisions When the Future Is Uncertain

Quotes from Matt Trujillo, CFP®

07/17/2020 - Matthew Trujillo at Center for Financial Planning was quoted in this article in The Wall Street Journal, “How to Make Money Decisions When the Future Is Uncertain.” Regarding problems with rent if you find yourself recently unemployed, Trujillo suggests talking with your landlord regarding missing a payment or two to preserve cash while you look for a new job. If you’re considering trying to keep your apartment, take a hard look at your monthly expenses and determine how long you can afford the monthly obligation for rent. If you have cash in savings, do the math to figure out how long you can keep paying rent before your funds run dry, and decide whether you’re willing to take that risk. About a third of U.S. renters have been protected by an eviction moratorium that covers properties with federally insured mortgages. But it’s set to expire July 25. If you’re worried about being evicted, see what relief your state or city might offer to renters, as many jurisdictions have added protections that will remain in place longer. If you’re afraid to make a wrong decision, Trujillo says give yourself permission to be wrong. This is easier said than done, but the fact is, “you aren’t going to nail every financial decision you face in life,” he says.

TheStreet

Why You Need a Coronavirus Financial Plan

By Sandra Adams, CFP®

07/03/2020 - As a financial planner who has worked with hundreds of clients over the years, my perspective is that if you have a solid long term plan, it should take into account these rough patches — these downturns in markets and the economy that may set your plan back periodically.

U.S. News & World Report

Quotes from Angela Palacios, CFP®, AIF®

06/26/2020 - Angela Palacios of Center for Financial Planning is quoted in this article on advancing one's career as a financial advisor. She says that joining a firm that has a career path is important. At The Center, for example, we have a clear professional development path with guidelines for how our team members can progress from entry-level to partner.

ThinkAdvisor

IBDs & Wirehouses Roll Out New Programs, Tech

Quotes from Tim Wyman, CFP®, JD

06/25/2020 - Innovation continues throughout the industry at this challenging time.

Small Giants Community

Is Work from Home Here to Stay? 3 Perspectives On the Future of Work

Quotes from Lauren Adams, CFA®, CFP®

06/16/2020 - For nearly three months now, office buildings across the country have sat vacant, while its former occupants adjust to working from makeshift home offices and scramble to learn video call etiquette. 

Synchrony Bank

How to Prepare Your Money for a Recession

Quotes from Nick Defenthaler, CFP®, RICP®

06/11/2020 - Defenthaler says to look closely at living expenses to trim, like monthly subscription dues that add up over time that aren’t getting much use, like streaming music or TV services. Additionally, Defenthaler promotes building an emergency fund by accumulating savings, whether it’s within a 401(k) or your checking or savings, with automated deposits.

ThinkAdvisor

LPL Rolls Out Succession Planning Program

Quotes from Tim Wyman, CFP®, JD

06/11/2020 - As the advice industry struggles to get more advisors to embrace succession planning, LPL Financial says it has launched Assurance Plan, a program that helps “protect the value of an advisor’s business in the event of an unplanned exit” due to death or permanent disability. 

Journal of Financial Planning

Successful Succession: Insights from a Third-Generation Financial Advisory Firm

By Tim Wyman, CFP®, JD

06/01/2020 - Examples of succession or continuity planning gone wrong are quite common, but it doesn’t have to be that way.​

Financial Planning

Tech Survey 2020: Advisors losing faith in planning software?

Quotes from Nick Defenthaler, CFP®, RICP®

05/31/2020 - In an age of shrinking compensation models and shifting regulatory landscapes, digitally driven financial plans are the future when it comes to keeping and attracting clients — or so you’d think.

Investor’s Business Daily

Smart Shopping Tips When Choosing The Latest Fintech Solutions

Quotes from Nick Defenthaler, CFP®, RICP®

05/25/2020 - When buying fintech products, financial advisors tend to experience a mix of excitement and dread. They're happy to acquire technology to improve their business, but they worry that they're overspending for a tool that under-delivers.

ThinkAdvisor

Internal Succession Planning: How We Did It

By Tim Wyman, CFP®, JD

05/15/2020 - It’s always been challenging for financial advisors to devote time and attention to succession planning. In the current pandemic environment, advisors are even more stretched, trying to stay connected to clients, keeping them informed, and still dealing with the normal activities of running a planning practice.

GOBankingRates

10 Reasons Why Talking To Kids About Money Is More Important Than Ever

Quotes from Sandra Adams, CFP® and Matt Trujillo, CFP®

05/15/2020 - Many parents have lost their jobs or have had their hours cut and are bringing in reduced earnings. Others might have lost money due to the stock market plummeting. These changes can obviously have an effect on their children, but money can be a difficult thing to talk to kids about. Even if you haven’t felt adverse effects from the coronavirus pandemic personally, it’s still a good time to have an honest conversation about money with your kids.

U.S. News & World Report

How to Avoid Panicking When Your 401(k) Is Down

Quotes from Robert Ingram, CFP®

05/13/2020 - The balance in your 401(k) account may have dropped recently as the market plunged. Starting from a high of over 29,000 in February 2020, the Dow Jones Industrial Average sank below 19,000 in March 2020. With uncertainty surrounding the coronavirus pandemic, global markets continue to be volatile.

Wealth Management

A Virtual IMPACT Approved by Advisors

Quotes from Sandra Adams, CFP®

04/30/2020 - Schwab Advisor Services’ decision to remake all of their remaining conferences for 2020—including their national conference Schwab IMPACT, previously scheduled for November 10 in Boston—into virtual conferences, could signal a permanent change in the way industry conferences are handled in the future.

And according to many advisors, it’s a change they would welcome.

TheStreet

Retirement Planning for Widows and Widowers

Sandra Adams, CFP® guest contributor

04/15/2020 - It’s a wild ride, but just hang on. Investors can survive and eventually prosper despite the horrific pandemic-driven stock market gyrations we are experiencing, investment professionals say. “Don’t panic. Never in my near-40-year career have I once heard someone say, ‘Gee, I’m glad I panicked,’ ” said Richard Bernstein, a longtime financial adviser with his own firm in Manhattan.

New York Post

Investment professionals say ‘don’t panic’ amid coronavirus fears

Quotes from Sandra Adams, CFP®

04/04/2020 - It’s a wild ride, but just hang on. Investors can survive and eventually prosper despite the horrific pandemic-driven stock market gyrations we are experiencing, investment professionals say. “Don’t panic. Never in my near-40-year career have I once heard someone say, ‘Gee, I’m glad I panicked,’ ” said Richard Bernstein, a longtime financial adviser with his own firm in Manhattan.

U.S. News & World Report

Advising Clients on Using a Backdoor Roth IRA

Quotes from Timothy Wyman, CFP®, JD and Nick Defenthaler, CFP®, RICP®

03/30/2020 - MORE INCOME IS ALWAYS better, but it does come with at least one drawback: The IRS does not allow high earners to contribute to a Roth IRA. Single filers earning $139,000 or more and married filers earning $206,000 or more cannot contribute to a Roth IRA in 2020. This means your high earning clients are left without access to a potent tax-advantaged retirement savings vehicle unless they use the back door to get in.

Financial Advisor Magazine

Some RIAs Vow To Keep All Staff In Place

Quotes from Timothy Wyman, CFP®, JD

03/24/2020 - A number of registered investment advisory firms—including some well-know billion-dollar shops—are vowing to hold on to all of their talent as the coronavirus challenge continues despite anticipating a sharp haircut to revenues.

FOX 2 Detroit

With no coronavirus end in sight, money concerns growing for Michigan residents

Interview with Timothy Wyman, CFP®, JD

03/20/2020 - As the economic fallout from the coronavirus outbreak starts coming into focus, residents in Michigan whose shifts were cut or were laid off from their jobs are worried how they will pay bills.

MarketWatch

Retirement and old age can be dire for women — here’s how to fix it

Quotes from Sandra Adams, CFP®

03/06/2020 - Women around the world are being highlighted and celebrated in March as part of women’s history month — their retirement plans need some of that attention, too.

Money

Three Steps to Protect Your Retirement from Coronavirus Market Swings

Quotes from Tim Wyman, CFP®, JD

02/28/2020 - After weeks of resistance, the U.S. stock market has been laid low by the global spread of the coronavirus (COVID-19). From February 19th through February 27, the S&P 500 fell more than 11%, as the reality set in that our economy will slow at least temporarily as production in major supply markets (namely, China) is curtailed, and consumer spending may decrease.

TheStreet

Answers to Long-Term Care Questions

Sandra Adams, CFP® guest contributor

02/14/2020 - One of the primary concerns clients often have is making sure that their money will last as long as they do. Longevity concerns and the desire to be certain that their hard-earned money lasts a lifetime weighs heavy on the minds of those planning for retirement. Embedded in longevity concerns are fears that there may be some major medical or long-term care event that will eat up a large portion of retirement savings, making it harder to stretch retirement income and assets over a lifetime.

FOX 2 Detroit

Identity theft rises during tax season. Here's how to protect against that

Interview with Tim Wyman, CFP®, JD

02/06/2020 - Tax season has arrived, which means so will that refund. However, not everyone is looking to file their own taxes. Some people, specifically the bad guys, will be busy looking for other people's filings. Tax specialists are warning these crimes tend to rise during this time of year.

WXYZ Detroit

Tax Identity Theft Awareness Week

Interview with Tim Wyman, CFP®, JD and Nick Defenthaler, CFP®, RICP®

02/04/2020 - Keep your identity safe with these tips.