Giving Tuesday: What It Is and Why It Matters

Contributed by: Kelsey Arvai, CFP®, MBA

Every act of generosity counts, and everyone has something to contribute toward making the world a better place. GivingTuesday was created in 2012 with one mission: to create a day that encourages people to do good. Since then, the movement has become global, inspiring millions of people to give, collaborate, and celebrate generosity. 

The biggest celebration of generosity, GivingTuesday, is celebrated annually on the last Tuesday of November. We welcome you to join the movement this GivingTuesday, every Tuesday, or every day, whether it's time, a donation, or the power of your voice in your local community. 

The Center participates in giving year-round. The Center Charitable Committee facilitates this framework for giving year-round. Our mission is to contribute time and donations to the following three areas – Financial Literacy, Community Needs (Metro Detroit), and Staff Involvement. 

In 2023, our team has donated over 102 hours and $15,020. We love helping others feel great. Below are some philanthropic efforts we have completed or plan to complete this year. Additionally, The Center offers eligible employees up to 2 days off with pay per year for engaging in organized volunteer community projects to facilitate involvement in community activities. The Center also encourages employees to make gifts to charities of their choice; each employee can request The Center to match their donation up to $100 annually. You can visit GivingTuesday.org/participate to learn more about giving time, gratitude, or support to positively affect your community and create a better tomorrow.  

2023 Events

• Capuchin

  • Center Team Members folded and displayed clothing and unloaded food boxes in Detroit.

• Gleaners’ Community Mobile Food Pantry

  • Center Team Members volunteered with Gleaners Mobile Grocery to help local seniors in our community.

• Michigan Council of Economic Education

  • The Center is delighted to co-sponsor the Michigan Council on Economic Education's 2023 Personal Finance Challenge, as it highlights the importance of making smart personal financial choices and career opportunities in the financial planning industry.

• Money Smart Week is a national campaign by the Federal Reserve Bank to encourage good financial decision-making by individuals and communities through free online education. Center for Financial Planning Inc. was excited to co-sponsor the Michigan Council on Economic Education's 2023 Personal Finance Challenge to show our support for the Money Smart Week campaign. High school students from all over Michigan were invited to compete on April 29th. Teams of 3-4 students review a personal finance case study and then provide a presentation of their financial planning advice. The competition occurs before a team of judges in person at the Macomb Intermediate School District. The winning team receives a $250 prize and will advance to a national competition.

• Greening of Detroit

  • Center Team members participated in a tree-planting event with Greening of Detroit by digging holes, planting young trees, and laying mulch. 

• Funding for the Future

  • The Center proudly supported the band Gooding through the nonprofit Funding for the Future. The event involved fun rock music, excited high schoolers, and important lessons in financial literacy. 

• Ferndale Catfé 

  • Center for Financial Planning Inc. supported the Ferndale Catfé for National Pet Month by visiting the Catfe's new location in Ferndale. We spent time in the cat room, learned about their work, and learned more about volunteering and adopting/fostering. 

• Autism Alliance of Michigan Fundraiser Walk

  • Center Team Members walked to support families affected by autism. The event at the Detroit Zoo included an autism resource fair with 50+ vendors, on-stage programming, a united community walk, and arts & crafts.

• Humble Design

  • Center Team Members will work with Humble Design to affect the lives of individuals, families, or veterans emerging from homelessness. Humble Design works to change lives and communities by custom designing and fully furnishing home interiors. 

• ALS Walk

  • Center for Financial Planning Inc. supported the march toward a treatment and, ultimately, a cure for ALS. This disease, in some manner, has affected many of our family and friends. We support the Walk to Defeat ALS and the organization's efforts to provide support groups, access to care, and advocacy. 

• Alzheimer's Walk 

  • Center for Financial Planning Inc. supported the Walk to End Alzheimer's at the Detroit Zoo. This disease, in some manner, has affected many of our family and friends. We support the Alzheimer's Association's efforts to find a cure.

• Impact100 Metro Detroit 

  • Kelsey Arvai, Jaclyn Jackson, and Kali Hassinger are all members of Impact100 Metro Detroit. Members join to award high-impact grants ($100,000) to local organizations in the tri-county area. 

• BrilliantDetroit

  • The Charitable Committee is working with BrilliantDetroit to host a drive this holiday season. BrilliantDetroit is a nonprofit dedicated to building kid success for Detroit families with children 0-8 in high-need neighborhoods to have what they need to be school-ready, healthy, and stable. 

• Baldwin Society

  • Center Team Members will help to assemble Holiday Hope Care Packages for low-income seniors.

• Fleece & Thank You Event

  • Center Team members will get into the Holiday Spirit to make blankets for the Children's Hospital.

Kelsey Arvai, CFP®, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

Raymond James is not affiliated with the above organizations.

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Kelsey Arvai, MBA and not necessarily those of Raymond James.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc.

The History of Labor Day

Contributed by: Kelsey Arvai, CFP®, MBA

We celebrate Labor Day to recognize the contribution and achievements of American workers. It unofficially marks the end of summer and is traditionally observed on the first Monday in September.

The history of Labor Day is somewhat grim. At the height of the Industrial Revolution, in the late 1800s, the average American worked 12-hour days and seven days a week to scrape together a decent living. To emphasize the dire working and living conditions, children as young as five or six worked in mills, factories, and mines across the country.

Most workers faced unsafe working conditions with insufficient access to fresh air, sanitary facilities, and break time. Because of this, labor unions first appeared in the late 18th century. Workers began organizing strikes and rallies to protest poor conditions and compel employers to renegotiate hours and pay. On September 5, 1882, 10,000 workers took unpaid time off to march from City Hall to Union Square in New York City, holding the first Labor Day parade in US history.

The “workingmen’s holiday” caught on in other industrial cities, and many states passed legislation recognizing it. Congress legalized the holiday 12 years after workers in Chicago went on strike to protest wage cuts and the firing of union representatives.

We can thank our labor leaders for the fact that we get to enjoy weekends off, a 40-hour work week, sick days, and paid time off. Thousands of Americans have marched, protested, and participated in strikes to create fairer, more equitable labor laws and workplaces – and still do today. So kick back, relax, and enjoy your long weekend!

Kelsey Arvai, CFP®, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Kelsey Arvai, MBA, CFP® and not necessarily those of Raymond James.

The Center to Observe Upcoming Juneteenth Holiday

Contributed by: Kelsey Arvai, CFP®, MBA

Contributed by: Michael Brocavich, CFP®, MBA

This year, Juneteenth will be observed on Monday, June 19th. The Center, Raymond James, and public trading markets, including NYSE, NASDAQ, Chicago Stock Exchange and bond, unit investment trust, options and mutual fund markets will all be closed in observance.

Juneteenth (which stands for “June nineteenth”) commemorates the day in 1865 that federal troops arrived in Galveston, Texas – months after the end of the civil war— to take control of the state and ensure that all enslaved people be freed. This came over two years after the signing of the Emancipation Proclamation. Although emancipation did not happen overnight for all the enslaved people in Texas, celebrations broke out among the newly freed, and Juneteenth was born. Slavery was formally abolished with the adoption of the 13th Amendment in December 1865.

Juneteenth signifies a historic day for Black Americans and is an important day for all Americans to observe as a part of our collective history. A landmark for social equity, we honor this day to commemorate Black freedom; reflect on how far we’ve come since; and acknowledge that work still needs to be done in the pursuit of social equity.

Kelsey Arvai, CFP®, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

Michael Brocavich, CFP®, MBA is a CERTIFIED FINANCIAL PLANNER™ professional at Center for Financial Planning, Inc.® He has an extensive background in both personal and corporate finance.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc.

Giving Tuesday: What It Is and Why It Matters

Contributed by: Kelsey Arvai, MBA

Every act of generosity counts, and everyone has something to contribute toward making the world a better place. GivingTuesday was created in 2012 with one mission; to start a day encouraging people to do good. Since then, the movement is now global, inspiring hundreds of millions of people to give, collaborate, and celebrate generosity. 

The biggest celebration of generosity, GivingTuesday, is celebrated annually on November 29th. We welcome you to join the movement this GivingTuesday, every Tuesday, or every day - whether it's time, a donation, or the power of your voice in your local community. Check out this video on Three Tax-Savvy Charitable Giving Strategies to learn more.

The Center participates in giving year-round. The Center's Charitable Committee facilitates this framework for giving year-round. Our mission is to contribute time and donations to the following three areas – Financial Literacy, Community Needs (Metro Detroit), and Staff Involvement. 

Below are some of the philanthropic works we have done or plan to do this year. Additionally, The Center offers eligible employees up to two days off with pay per year for engaging in organized volunteer community projects and facilitating involvement in community activities. The Center also encourages employees to make gifts to charities of their choice. Each employee of The Center can request The Center to match their donation up to $100 annually. You can visit Giving Tuesday’s website to learn more about how you can give time, gratitude, or support to positively impact your community and create a better tomorrow.  

Upcoming Events

• Brilliant Detroit – Tuesday, November 1st through TOMORROW, November 30th

• The Charitable Committee is working with BrilliantDetroit to host a toy drive this holiday season! To ensure the success of this drive, we’re doubling down on our efforts. If you donate a toy in the next 48hrs (today, 11/29 or tomorrow 11/30) The Center will make a financial match to your donation! See more details HERE!

• BrilliantDetroit is a nonprofit dedicated to building kid success stories for Detroit families and providing proven, year-round educational programming for students in high-need neighborhoods.

• Baldwin Society – Friday, December 9th

• Center Team Members will help to assemble Holiday Hope Care Packages for low-income seniors.

Past Events

• Gleaners Mobile Grocery - March

  • Jeanette LoPiccolo, Mallory Hunt, Logan Dimitrie, and Tim Wyman volunteered with Gleaners Mobile Grocery to help local seniors in our community.

• Battle of the Brackets – A Center Spinoff Competition - March

  • To celebrate the National Basketball Tournament this year, we set aside our favorite teams and adopted asset classes instead. You may be thinking – that sounds kooky! It is a bit. Our celebration is a mash up of education, some charitable giving, and a bit of friendly competition.

  • Here’s how it works: Our investment portfolios contain mutual funds and ETFs from various asset classes such as U.S. Large Cap Stocks and U.S. Municipal Bonds. The asset classes are our basketball teams. Nick Boguth, our trusted portfolio manager, highlighted 28 different assets classes, then each was selected by a team member and entered into our brackets. The top four winners will receive a donation to their favorite nonprofit organization.

  • To kick off our competition, our amazing team members, Nick Boguth and Jaclyn Jackson led a presentation explaining which asset classes hold the largest concentration of investment dollars and how The Center’s investment team builds client portfolios. Each team member then selected their best guess to “win”. It was a volatile few weeks! Our lucky winners included Sarah McDonell (Real Estate), Matt Chope (Global Macro), Emily Moore (Municipal Bonds), and Raya Chope (U.S. Momentum Stocks). Center for Financial Planning is donating $1,000 total to help support 4 nonprofits of their choosing. Go team!

• Greening of Detroit - April

  • Jeanette LoPiccolo, Gerri Harmer, Logan Dimitrie, and Bob Ingram participated in a tree planting event with Greening of Detroit.

•  Michigan Council of Economic Education - April

  • The Center is delighted to co-sponsor the Michigan Council on Economic Education’s 2022 Personal Finance Challenge as it highlights the importance of making smart personal financial choices and the career opportunities in the financial planning industry.

• Money Smart Week is a national campaign by the Federal Reserve Bank to encourage good financial decision making by individuals and communities through free online education. To show our support for the Money Smart Week campaign, Center for Financial Planning Inc. is excited to co-sponsor the Michigan Council on Economic Education’s 2022 Personal Finance Challenge. High school students from all over the state of Michigan are invited to compete on April 29th. Teams of 3-4 students review a personal finance case study, then provide a presentation of their financial planning advice. The competition occurs before team of judges in-person at the Macomb Intermediate School District on April 29th. The winning team receives a $250 prize and will advance to a national competition.

• Miles for Money – September

  • Center Team Members logged their miles so that a nonprofit of their choice would receive money; a healthy WIN-WIN. For each one mile walked, biked, ran, jogged, etc. The Center donated $2 up to $100 or 50 miles for the month of September.

• Humble Design – October

• Center Team Members work with Humble Design to impact the lives of individuals, families, or veterans emerging from homelessness. Humble Design works to change lives and communities by custom designing and fully furnishing home interior.

Kelsey Arvai, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Kelsey Arvai, MBA and not necessarily those of Raymond James.

Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc.

The Center: A Crain’s Detroit Cool Place to Work for Sixth Year

Contributed by: Center for Financial Planning, Inc.®

We’re happy to announce The Center has been awarded Crain’s 2022 Cool Places to Work* in Michigan for the sixth consecutive year!  Crain’s Cool Places to Work was designed to identify, recognize, and honor the best places of employment in Michigan. The 2022 Cool Places to Work in Michigan list is made up of 100 companies in three size categories: small (15-49 employees), medium (50-249) and large (250+). Companies from across the state entered the two-part process to determine the Cool Places to Work in Michigan. The first part consisted of evaluating each nominated company’s workplace policies, practices, and demographics, and the second part consisted of an employee survey to measure the employee experience. The combined scores determined the final rankings.

THE CENTER WAY

The Center team has spoken, and it’s evident we’re all proud of benefits like professional development, education reimbursement, workplace committees, and social events. Our fun culture is developed over ping-pong tournaments, chili cook-offs, and volunteer work.

TEAMWORK DURING A PANDEMIC

“We are especially proud of how we’re managing the curveball 2020 threw us. When COVID-19 hit, we transitioned to working remotely and formed a response committee tasked with making the office a safe place to return to,” said Lauren Adams, CFA®, CFP®.

Managing office culture remotely comes with its difficulties, but none were significant enough to break the incredible community our office has developed.  We’ve started a book club to keep engaged and even brought in a little competition with our stock education bracket-style game, Market Madness and health challenges throughout the pandemic.  The health challenges helped keep the COVID 15lbs at bay.

Ultimately, The Center is a cool place to work because each team member contributes to a caring and positive workplace.

This ranking is not based in anyway on the individual's abilities in regards to providing investment advice or management. This ranking is not indicative of advisor’s future performance, is not an endorsement, and may not be representative of individual clients' experience. Raymond James is not affiliated with Crain’s.

The History of Labor Day

Contributed by: Kelsey Arvai, MBA

We celebrate Labor Day to recognize the contribution and achievements of American workers. It unofficially marks the end of summer and is traditionally observed on the first Monday in September.

The history of Labor Day is somewhat grim. At the height of the Industrial Revolution, in the late 1800s, the average American worked 12-hour days and seven days a week to scrape together a decent living. To emphasize the dire working and living conditions, children as young as five or six worked in mills, factories, and mines across the country.

Most workers faced unsafe working conditions with insufficient access to fresh air, sanitary facilities, and break time. Because of this, labor unions first appeared in the late 18th century. Workers began organizing strikes and rallies to protest poor conditions and compel employers to renegotiate hours and pay. On September 5, 1882, 10,000 workers took unpaid time off to march from City Hall to Union Square in New York City, holding the first Labor Day parade in US history.

The “workingmen’s holiday” caught on in other industrial cities, and many states passed legislation recognizing it. Congress legalized the holiday 12 years after workers in Chicago went on strike to protest wage cuts and the firing of union representatives.

We can thank our labor leaders for the fact that we get to enjoy weekends off, a 40-hour work week, sick days, and paid time off. Thousands of Americans have marched, protested, and participated in strikes to create fairer, more equitable labor laws and workplaces – and still do today. So kick back, relax, and enjoy your long weekend!

Kelsey Arvai, MBA is an Associate Financial Planner at Center for Financial Planning, Inc.® She facilitates back office functions for clients.

New Face at The Center!

Contributed by: Center for Financial Planning, Inc.®

At The Center, we love hiring promising student leaders and accomplished young professionals. That being said, we’re thrilled to welcome our newest team member, Hassan Elamine, as our 2022 summer intern! Hassan works primarily with the Investment and Financial Planning Departments to complete research projects, mutual fund performance reporting, and special Client Service based work. Below is a quick introduction to get to know him better!

My name is Hassan Elamine, and I'm the new Summer Intern here at The Center! I wanted to introduce myself as, hopefully, we'll be working together soon. I'm currently a junior at Wayne State University. More specifically, I'm attending the Mike Ilitch School of Business and double majoring in Finance and Supply Chain Management. In my spare time, I'm a high school coach that works with wrestlers to build a unified wrestling organization. My goal is to give them a safe place to connect with other wrestlers while progressing their technique during the off-season. I'm excited to take advantage of this wonderful opportunity with The Center to learn as much as possible while building relationships with such a close-knit team!

Hassan started in the beginning of June, so if you get a call from him or see him around the office, don’t be afraid to say “hi!”

Welcome to The Center family, Hassan!

The Center to Observe Upcoming Juneteenth Holiday

Contributed by: Lauren Adams, CFA®, CFP®

Contributed by: Shatara King

The Center is proud to announce that it will be observing Juneteenth as a new holiday going forward.

What is this new holiday? In 2021, Congress overwhelmingly voted to make Juneteenth – the holiday commemorating the abolition of slavery – the 12th federal holiday. This makes Juneteenth the first new federal holiday since Martin Luther King Jr. Day was signed into law in 1983.

Juneteenth (which stands for “June nineteenth”) commemorates the day in 1865 that federal troops arrived in Galveston, Texas – months after the end of the civil war— to take control of the state and ensure that all enslaved people be freed. This came over two years after the signing of the Emancipation Proclamation. Although emancipation didn’t happen overnight for all the enslaved people in Texas, celebrations broke out among the newly freed, and Juneteenth was born. Slavery was formally abolished with the adoption of the 13th Amendment in December 1865.

This year, Juneteenth will be observed on Monday, June twentieth. The Center, Raymond James, and public trading markets, including the NYSE, NASDAQ, and bond markets, will all be closed in observance of this new holiday.

Lauren Adams, CFA®, CFP®, is a Partner, CERTIFIED FINANCIAL PLANNER™ professional, and Director of Operations at Center for Financial Planning, Inc.® She works with clients and their families to achieve their financial planning goals.

Shatara King is a Client Service Associate at Center for Financial Planning, Inc.® She has a Bachelor of Science in Human Resource Development from Oakland University and also serves as the Chair of The Center’s Diversity & Inclusion Committee.

The Center to Celebrate 2022 PRIDE Month

Contributed by: Shatara King

The Center is excited to celebrate the upcoming 2022 PRIDE month! 

Before diving into the festivities that are sure to come (virtually or otherwise), let’s briefly revisit the rebellion that birthed this annual celebration. For those who may be unaware, PRIDE Month is celebrated every June to commemorate the 1969 Stonewall Uprising in Manhattan. 

The Stonewall Uprising consisted of a series of demonstrations in response to a police raid in the early morning hours of June 28, 1969, at the Stonewall Inn in the Greenwich Village neighborhood, NYC. Patrons of the Stonewall, other Village LGBTQIA bars, and fellow neighborhood residents fought back when the police became violent.

One of the most iconic people at the center of this movement was Marsha P. Johnson (August 24, 1945-July 6, 1992). Marsha stood at the Center of New York City’s gay liberation movement for nearly 25 years. She was on the front lines of protests against oppressive policing. She also helped found one of the country’s first safe spaces for transgender and homeless youth. And it’s worth noting that these weren’t her only accomplishments. Her contribution to the community was vast and touches the lives of many to this day. For good reason, Ms. Johnson’s memory will forever live on, not just in our hearts, but in the hearts of every LGBTQIA person and ally. 

Marsha P. Johnson

www.biography.com/activist/marsha-p-johnson

For those who already do celebrate (and those who may be considering it), it’s worth taking a moment to consider how much your support means and how necessary it is to this day. 

It’s important to note that we still live in a time where the very existence of the LGBTQIA community is under constant threat.

Here at The Center, our Diversity & Inclusion Committee works to achieve an ongoing celebration of diversity within the firm. We recognize that these celebrations must go on. However, we also acknowledge the work that still needs to be done to finish the completion of a society that fully accepts and honors the challenging history of the LGBTQIA community and allies, those who have served as the trailblazers prior to this point, and the many that have yet to come. 

The LGBTQIA community will forever be woven into the fabric of our history, and because of this, they are more than deserving of our respect, true acceptance, and support. 

Shatara King is a Client Service Associate at Center for Financial Planning, Inc.® She has a Bachelor of Science in Human Resource Development from Oakland University and also serves as the Chair of The Center’s Diversity & Inclusion Committee.

Battle of the Brackets…Portfolio Management Edition: A Center Spin-Off Competition

Contributed by: Nicholas Boguth, CFA®

I believe certain things make our team outstanding here at The Center, and a few of them were in the spotlight this past month amid the March College Basketball Tournament:

• We constantly practice our company values.

• We have a heavy focus on charitable giving.

• And ultimately, we are just a cool place to work.

In the spirit of education, teamwork, and some friendly competition, we ran a bracket competition with an investment focus (we did a normal bracket game too, but mine was busted the first day, so there is no need to talk about that). Every team member chose an asset class to represent their “team” in the tourney. The winner of each round is the asset class that outperformed over the week, and we are repeating for five weeks until we have our champion.

Some team members chose more stable asset classes like short-term U.S Treasuries or investment-grade bonds, while some chose more volatile options like Emerging Market stocks or commodities. Overall, it is fun for the entire team to collaborate and for all of us (not just those in investment roles) to watch how different asset classes move with economic news*.

*We all know there is no shortage of economic news lately from the U.S. and overseas. Markets have been volatile, and times like these stress the importance of having a plan in place. As always, we are here to help answer any questions you may have about your plan. One small but powerful tool in investment management that we have taken advantage of is tax-loss harvesting during volatile markets. Read more about that here.

The cherry on top of this competition is that we are playing for some of our favorite local charities. The Center’s Charitable Committee donated $1,000 to the winning four team members’ charities of choice. Check out the results from last year, as we ran the same competition using individual stocks instead of asset classes. We will continue to find new ways to collaborate, learn, and partner with charities here at The Center. We hope you follow our blog as we update along the way!

Nicholas Boguth, CFA® is a Portfolio Manager at Center for Financial Planning, Inc.® He performs investment research and assists with the management of client portfolios.

Any opinions are those of Nicholas Boguth, CFA® and not necessarily those of Raymond James. Every Investor’s situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment, Prior to making an investment decision, please consult with your financial advisor about your individual situation.