Serving our community and profession

 At the Center we are dedicated to sharing and spreading financial literacy. Melissa Joy, CFP® and Julie Hall, CFP® recently took their professional expertise to the community by volunteering for the Financial Planning Association of Michigan. Each presented workshops for the Detroit Parent Network. 

Julie led a risk management workshop speaking to parents of school aged children that live in Detroit, Hamtramck and Highland Park. Her message included ways to incorporate life insurance, disability insurance and property and casualty insurance into an overall risk management plan.  Julie said, “It was great to be able share my financial planning knowledge with a group of parents in Detroit who have not had the opportunity to meet with someone to discuss financial planning concerns before."

Also reaching out to parents, Melissa visited the parent support center at Marcus Garvey in Detroit Public Schools where she shared what she calls a personal Financial Fire Drill. “I visited on field day so the whole school was full of excitement and energy and the parents had been volunteering their time with their kids throughout the day," Melissa said. "It was great to meet so many moms and dads and the program instructors at Marcus Garvey. The financial literacy discussion was wide-ranging and real-world, just as financial planning should be. I’ll look forward to volunteering with this program again in the future.”

Center Helps to Support Professional "Issues in Aging" Education

 

One of the Center’s core values is Continuous Learning and Personal Growth – a value that applies not only to our Center team, but also to other professionals that may serve our clients. That is why we were proud to support the Wayne State University Institute of Gerontology (IOG) as it educated over 250 healthcare professionals at its 24th annual “Issues in Aging” conference. 

“Issues in Aging,” one of the longest running and well-recognized events of its kind, aims to provide information on best practices and current research related to geriatrics and gerontology.  One day of each annual two-day conference is dedicated to Alzheimer’s and related dementias.  Our nation’s ongoing generational shift will demand healthcare professionals that are armed with knowledge and skills to help our older adults.  The IOG is certainly doing its part!

The Center has  partnered with the IOG for many years to provide both financial and volunteer support, with  Sandy Adams serving on the IOG’s Board of Visitor’s for the last two years.  For more information about the WSU Institute of Gerontology’s ongoing research, education and outreach efforts, go to www.iog.wayne.edu.

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Links are being provided for information purposes only.  Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors.  Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members.

Julie Hall Helps Spread Financial Literacy

 

Teaching middle school aged children about budgeting and the value of learning how to make financially aware decisions, even as teenagers, was top of mind for Julie Hall. That's why she got involved in the Junior Achievement Finance Park in Detroit as a volunteer through her membership in the Financial Planning Association (FPA) of Michigan.

During the workshop teens were given a different life scenario with different education levels, income levels, and unique circumstances emulating real life family dynamics.  With guidance from financial professionals, the participants got to make their own financial choices and build a budget.  After paying bills and reviewing results the next step was to explore and decide if they can and want to save money for upcoming financial goals or donate to charitable causes important to them.

Julie says “Teaching financial awareness can and should begin at an early age so that our children are better prepared to handle their finances effectively in the future.” The Junior Achievement Finance Park is a resource that Julie has been involved with in the past, and each time a member of the Center team volunteers, we walk away knowing we've given even more young people in our community tools they can use for a lifetime.

High Tech with a Human Touch

 Technology seems to change at the speed of light but it always plays an important role in helping us provide world-class service to clients. The Center has a long history of being early adopters of technology. We’ve been using a client relationship management system since 1997; back when very few financial planning firms were doing it.  Done right, technology can increase the value that we provide to our clients. Done not so right, technology can be expensive and frustrating. 

In order to keep abreast of the latest innovations and best practices in our profession, Tim Wyman, CFP® recently attended the Financial Planning Association’s annual practice management event, Business Solutions, which took place just outside Chicago. For 2.5 days Tim was immersed in practice management and technology demonstrations, all focused on how to increase the level of service to clients.

Our Vision 2020, the Center’s roadmap for the future, guides us to successfully use technology wherever we can to enhance the client experience and our team member experience. We also are keenly aware that our investment in technology enhances, but does not replace, the need for the human touch. Instead, we think new tools create more space and time to discuss and plan for what’s most important in our clients’ lives.

Matt Chope, CFP® Attends Raymond James Conference

 It is no surprise that health care costs are growing, but some people fail to consider the rising cost when planning for retirement. That was a key take-away for Matt Chope, CFP® who recently attended the Raymond James winter symposium at the Raymond James home office in St. Petersburg, Florida.  This invitation-only event brought some of the leaders in the industry up-to-date on new tax laws, Medicare and Social Security planning, investment markets and the global economy. Matt said he was exposed to new ideas and came away from the trip with a reminder for his clients to adequately budget today for the health care costs of tomorrow.

Jennie Bauder Attends Branch Professionals Opportunities Conference

 When Jennie Bauder got the invitation, it was an "opportunity" she couldn't pass up.  Jennie is one of our Client Service Managers and was among 100 select Raymond James professionals who received an invitation to participate in the Opportunities Conference.  The two-day program, held in St. Petersburg, Florida, focused on daily operations for client service professionals and recent technology enhancements.

The Opportunities Conference gave Jennie a broader perspective on Raymond James.  "This was my first visit to the Raymond James Headquarters in St. Petersburg.  It was a great experience and wonderful to meet so many of the faces at Raymond James."

Conference organizers did due diligence while planning the conference.  Conference leaders gathered information from all attendees in advance to design the conference so participants had a change to align with other professionals who shared key interests.  "We shared numerous best practices within our group, and also tackled some common challenges," Jennie explained.  And after two full days packed with new information, Jennie was happy to come back and share what's up and coming with her peers in Southfield, Michigan.

Looking Ahead: 2013 Financial Planning Opportunities

Check out our recently published presentation that addresses some of today's most relevant financial topics.  The content focuses on retirement planning, income and estate tax changes and general advice provided by your Center team. Please feel free to contact a Center planner with questions or inquiries. In addition, you should discuss any tax or legal matters with the appropriate professional.

FPA National Conference 3 Point Recap

 On September 28th financial planners from across the nation converged on San Antonio for the 2012 FPA Experience, a national conference hosted by the Financial Planning Association (FPA). Some of the most influential leaders and contributors within the financial planning community were in attendance.

Over a four day period they shared their collective wisdom to over 2000 conference attendees. As a first-time attendee, the conference provided an incredible opportunity to sharpen professional skills and bring back a wealth of knowledge to share with colleagues and clients. Here are a few common themes heard throughout the conference.

Retirement Distribution Planning Remains a Primary Focus

Pioneers in the distribution planning field shared extensive research as well as real world applications. Much discussion centered on initial withdrawal rates and innovative research studies that supplement past distribution studies and assumptions. It's exciting to see new approaches and strategies that begin to challenge traditional retirement income planning options. These complex and sophisticated research studies share a common goal. Help clients plan for a fulfilling retirement and in doing so, not run out of money.

Legislative (Tax) Reform Is Coming

Many discussions revolved around the uncertainties we face in tax reform and political landscape. The Fiscal Cliff remains a concern, however, opinions suggest new legislation will eventually pass and the cliff will be avoided (for now!). However, there are many components wrapped in the so-called fiscal cliff and it's likely they will continue to impact our tax and economic landscape. It's too early to say BUT not too early to plan! 

Communication Is King

A variety of communication experts shared techniques ranging from compelling conversations to effective writing to social media. A consistent message heard throughout the Conference was that our ability to improve and evolve our communication skills can directly impact our success in both professional and personal lives.   We continually look for ways to best provide efficient and meaningful ways to reach our clients. How? By sharing and listening to the best practices of 2000 of our closest peers. The art of communication is truly a life long journey and I believe is best summed up in a Vince Lombardi quote.  

"Perfection is not attainable, but if we chase perfection we can catch excellence.

In summary, I hope my thoughts provided a brief glimpse into current and future trends.At the very least, support the "work" involved in attending these education sessions.

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Any opinions are those of Center for Financial Planning, Inc. and not necessarily those of RJFS or Raymond James.

Sandy Adams Speaks to CPAs on Eldercare

 Sandy Adams recently spoke to over 150 members of the Michigan Association of CPAs (MACPA) at their annual Management Information and Business Show on June 27^th and 28^th at the Rock Financial Showplace in Novi.  The presentation, titled “ElderCare 101” addressed the eldercare client, CPAs responsibilities for serving clients in this demographic, as well as opportunities for the CPA practice. Sandy is the Center’s point person for eldercare planning issues.

2012: Financial Planning Opportunities & Challenges

Client Presentation Now Available on Video!

The Center's informative library presentation "2012: Financial Planning and Investment Opportunities," given recently for clients and friends, is now available on demand as web-based video on YouTube. 

This presentation includes:

• a brief look back at the investment environment in 2011
• financial planning opportunities likely to be in the forefront for 2012
• updates on state taxation of pension income
• the investment outlook for 2012
• advice for keeping emotions at bay when making investment decisions

All six YouTube videos are available on the Presentations page of The Center's website.