Webinar in Review Blog: Staying Safe with Best Practices

Contributed by: James Brown

In today’s technology environment, information is just a click away. Sadly, bad guys looking for your information are just a click away also. Good security practices can protect you from becoming prey while you are on the Web.

The Center for Financial Planning, Inc.® offers some best practices on how to protect your accounts and your information.

Basic Security Hygiene: (Minute 1:15)

• Prevention

• Updates

• Firewalls

• Safe Browsing

Mobile\Wireless Security: (Minute 6:50)

• Limit your transactions

• Make sure the network is the right network

• ·Turn off what you are not using

Passwords: (Minute 11:10)

• Bad Practices

• Good Practices

Final Solution: (Minute 25:00)

• Your Backup Plan

• Backup best Practices

James Brown is an IT Manager at Center for Financial Planning, Inc.®

500 Books Donated…and counting!

Contributed by: Jeanette LoPiccolo, CRPC®

The Center is just half way through our book collection drive for Rx for Reading Detroit.  I am thrilled to report that over 500 hundred books have been donated so far!  As we packed up the books to donate, we smiled to see some of our childhood favorites… remember the Hardy Boys adventures?  There were also more recently published classics like the Harry Potter series. I’m excited to know that these old and new stories will be filling the Little Libraries in Detroit soon!

When my parents recently relocated, my siblings and I were all handed a box of childhood mementos.  My mom said she could not throw them away, but the box did not make “the cut” to move to their new house.  Sound familiar to anyone?  After laughing at my childhood arts and crafts efforts, I found several books that I loved as a kid. I can’t think of a better way to show my appreciation for those stories than to share with the next generation of young readers.

We are so appreciative of the donations from clients, team members, and Center friends to this worthy charity.  If you are wondering if you can still participate, it’s not too late! We will continue collecting books through July 31st. 

If you are interested in donating, we are collecting gently used or new books, appropriate for elementary through high-school aged students. Rx for Reading Detroit is able to purchase books at a deep discount, so if you’d like to make a cash donation, please send directly to: Rx for Reading Detroit, University of Detroit Mercy, 4001 W. McNichols Road, Detroit, MI 48221. The Little Libraries used by Rx for Reading are constructed by Center client, John Mio.  

For more information about our event, please click here: Collecting-books-for-donation-to-rx-for-reading.

Jeanette LoPiccolo, CRPC® is a Client Service Manager at Center for Financial Planning, Inc.®

Taking Security Seriously

Contributed by: Angela Palacios, CFP®, AIF®

Ever wonder what steps we take to ensure the security of your information?

This is a topic we take very seriously here at The Center. There are a variety of ways we work to ensure the privacy of your data. One of the steps we took was to hire our IT Manager, James Brown. James brought with him not only an in-depth knowledge of networks, hardware, and software but also an eye for security best practices. A core value of our firm is to seek continuous learning. While we have a large number of individuals on staff who seek new certifications on the topics of investment management and financial planning, it is also just as important in the world of technology and security. While James possessed a large amount of knowledge on the topic of security, he felt it is important to remain on top of the latest threats. This is why he sought to obtain the CompTIA Security+ certification.

In “non-geek speak” CompTIA Security+ certification is an assessment of an IT professional’s cybersecurity skills in risk management, disaster recovery and computer security best practices.

CompTIA Security+ is a vendor-independent global cybersecurity certification for IT Security professionals. Security+ certified professionals have proven competency in:

• Network security

• Threats and vulnerabilities

• Compliance and operational security

• Cryptography

• Access control/identity management

• Application, data and host security

This is not an easy test to pass, let alone on your first try! So join us in congratulating
James on achieving this! We know he spent countless hours for the benefit of you, our
client, studying to pass.

In addition to James, we also have an excellent resource available to us in security through
our relationship with Raymond James. James requested that Raymond James perform a
scan of our externally facing addresses and ports. This is a vulnerability assessment that
checks for a variety of ways a hacker could make their way into our system and gain access
to your data. After their threat assessment, we were found to have no vulnerabilities, a
clean bill of health so to speak.

James will be sharing some of what he has learned in his upcoming webinar on “Staying
Safe with Computer Best Practices”

Angela Palacios, CFP®, AIF® is the Director of Investments at Center for Financial Planning, Inc.® Angela specializes in Investment and Macro economic research. She is a frequent contributor The Center blog.

Get to Know Jacki Roessler, CDFA® Certified Divorce Financial Analyst

Contributed by: Jacki Roessler, CDFA®

Financial errors in divorce are unfortunately as common as the divorce rate in the United States. Several factors contribute to that today including the increase of “grey divorce” (divorce over the age of 50), tax law changes just put into effect by the current Administration, as well as complications in the way we save for retirement and local housing market value fluctuations.

However, none of the above factors are as significant as the real issue for most errors, which is the underlying emotional currents that impact divorce settlements. After all, these aren’t simply business entities breaking up. The break-up of a marital estate is fraught with emotional factors that impact a couple’s ability to make sound financial decisions.

That’s where a divorce financial advisor comes in. CDFA’s, or financial professionals who have received specialized training in the financial and tax aspects of divorce, may be an invaluable member of any team of divorce professionals. Working hand in hand with attorneys, CDFA’s guide clients to make decisions based on black and white numbers, projections and sound financial information - not psychological attachments to the house or the pension. 

I’ve been privileged to work as a CDFA for over 24 years, and it’s just as rewarding today as when I first received my designation.  Often, clients will come to me with a plan in mind. They’re determined to keep their home. They are on the fence about returning to the job market because they’re not sure how much income they need to target. Most often, they’ve received a settlement from the other side and didn’t know how to evaluate it. “Is this a good deal for me?” is the most common concern I hear. Once we work on their post-divorce budget and review long-term financial projections together, they have clarity. It allows them to make a decision based on a position of knowledge. Even if they can’t afford to keep the house, they feel empowered having that information today. Also, focusing on the “business” side of the divorce is often good therapy to get their mind focused on the positive aspects of the new life ahead of them.

Jacki Roessler, CDFA® is a Divorce Financial Planner at Center for Financial Planning, Inc.®

Center Stories: Bob Ingram, Financial Planner

Contributed by: Robert Ingram

Money and finances can be very emotional topics and they can certainly seem confusing in today’s busy and complex world.  We all may have different emotions when it comes to money, emotions that shape how we manage our finances.  To me, financial planning is not just numbers on a spreadsheet or a group of investments in an account.  It is your own evolving roadmap to help guide you in making confident decisions in the face of uncertainties, concerns, or even exuberance.  A strong financial planning relationship is about helping you develop your life goals, truly understanding your personal situation and priorities, and taking steps to make the most of your resources to help achieve your goals.

I hope the video helps you get to know a little more about me and how I work with clients here at The Center.  If I can be a resource for you, please don’t hesitate to contact me!

Robert Ingram is a Financial Planner at Center for Financial Planning, Inc.®

The Center Feels Honored to be Considered One of the Healthiest in the State

Contributed by: Gerri Harmer

The room was buzzing all night. We felt blessed to be invited to the Governor’s Fitness Award Gala and very humbled by our fellow nominees. We were excited to attend as one of the three nominees in the Healthy Workplace – small business category.

Al Kaline and Senator Stabenow were honored for the Vern Seefeldt Lifetime Achievement and the John Dingell Outstanding Public Official. They did not compare to a 20-year-old boy who pitches with one hand, a female army pilot who is making it her mission to help veterans coming home, and a 102-year-old veteran who challenged Lila Lazarus and Lt. Governor Brian Pauley to a pushup challenge onstage and won.

There were many amazing and courageous stories of overcoming obstacles, accomplishing great feats and positively influencing others. Race directors, communities and people coming together for the purpose of living healthier lives. We learned Michigan is ranked 35th in the health and wellness arena. We can do better. Those honored are leading the way to get us moving again.  We left ready to put on our tennies and bring everyone with us. We hope you’ll join the movement.

Read more about the winners and their inspiring stories here.

Gerri Harmer is a Client Service Manager at Center for Financial Planning, Inc.®

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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. Raymond James is not affiliated with the Governor's Fitness Award Gala.

Center Stories: Kali Hassinger, CFP®

Contributed by: Kali Hassinger, CFP®

Regardless of your circumstances or stage in life, there can be a general sense of anxiety surrounding money.  Our society tells us it's uncouth to discuss our personal finances with others, and in many cases fundamental financial concepts aren't taught in schools. This environment can make taking control of your financial life seem extremely difficult and overwhelming.

When I decided to become a financial planner, I knew that I wanted to help others to establish, maintain and ultimately reach their goals.

Money and finances are an integral part of our personal wellbeing, and the most effective way to feel empowered is through education.  I take the time to make sure you understand the financial planning process and that you feel confident in our decisions.  Whether you're starting from scratch or reevaluating your current plan, we can walk through each step together and without judgment. The relationship between you and your financial planner is profoundly personal and built on trust, and here at The Center there is nothing we take more seriously.

If you want to know a little more about my background, please check out my bio video above.

Kali Hassinger, CFP® is an Associate Financial Planner at Center for Financial Planning, Inc.®

Timothy Wyman, CFP®, JD Named to 2018 Financial Times 400 Top Financial Advisors

Contributed by: Center for Financial Planning, Inc.®

Timothy Wyman, CFP®, JD has been named to the 2018 edition of the Financial Times 400 Top Financial Advisers. The list recognizes top financial advisers at national, independent, regional and bank broker-dealers from across the U.S.

Six criteria considered include: assets under management (AUM); AUM growth rate; experience; advanced industry credentials; online accessibility; and compliance records. There are no fees or other considerations required of advisers who apply for the FT 400.

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The FT 400 was developed in collaboration with Ignites Research, a subsidiary of the FT that provides specialized content on asset management. To qualify for the list, advisers had to have 10 years of experience and at least $300 million in assets under management (AUM) and no more than 60% of the AUM with institutional clients. The FT reaches out to some of the largest brokerages in the U.S. and asks them to provide a list of advisors who meet the minimum criteria outlined above. These advisors are then invited to apply for the ranking. Only advisors who submit an online application can be considered for the ranking. In 2018, roughly 880 applications were received and 400 were selected to the final list (45.5%). The 400 qualified advisers were then scored on six attributes: AUM, AUM growth rate, compliance record, years of experience, industry certifications, and online accessibility. AUM is the top factor, accounting for roughly 60-70 percent of the applicant's score. Additionally, to provide a diversity of advisors, the FT placed a cap on the number of advisors from any one state that's roughly correlated to the distribution of millionaires across the U.S. The ranking may not be representative of any one client's experience, is not an endorsement, and is not indicative of advisor's future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award/rating. The FT is not affiliated with Raymond James.

Center for Financial Planning, Inc® Named a 2018 Best Places to Work for Financial Advisers by InvestmentNews

Contributed by: Center for Financial Planning, Inc.®

The Center has been recognized as a 2018 Best Places to Work for Financial Advisers as announced by InvestmentNews* today. The Center was chosen as one of this year’s top-50 based on employer and employee surveys delving into everything from company culture, benefits, career paths and more.

InvestmentNews partnered with Best Companies Group, an independent research firm specializing in identifying great places to work, to compile the inaugural survey and recognition program. The list is a first of its kind for the financial advice industry.

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*Source: InvestmentNews “2018 Top 50 Best Places to Work for Financial Advisers”, March 2018. The Best Places to Work for Financial Advisers program is a national program managed by Best Companies Group. The survey and recognition program are dedicated to identifying and recognizing the best employers in the financial advice/wealth management industry. The final list is based on the following criteria: must be a registered investment adviser (RIA), affiliated with an independent broker-dealer (IBD), or a hybrid doing business through an RIA and must be in business for a minimum of one year and must have a minimum of 15 full-time/part-time employees. The assessment process is compiled in a two part process based on the findings of the employer benefits & policies questionnaire and the employee engagement & satisfaction survey. The results are analyzed and categorized according to 9 Core Focus Areas: Leadership and Planning, Corporate Culture and Communications, Role Satisfaction, Work Environment, Relationship with Supervisor, Training, Development and Resources, Pay and Benefits and Overall Engagement. Best Companies Group will survey up to 400 randomly selected employees in a company depending on company size. The two data sets are combined and analyzed to determine the rankings. The award is not representative of any one client's experience, is not an endorsement, and is not indicative of advisor's future performance. Neither Raymond James nor any of its Financial Advisors pay a fee in exchange for this award. InvestmentNews and/or Best Companies Group is not affiliated with Raymond James.

International Women’s Day Celebration with The Center

Contributed by: Laurie Renchik, CFP®, MBA

On behalf of The Center team we want to thank everyone who participated in our First Annual International Women’s Day event!  The energy in the room of 200+ women on March 8th was an inspiration sure to carry on throughout the year.  Celebrating women’s success and making a difference in other women’s lives carries a message of community and mutual support; a WIN-WIN with staying power.

Our keynote presentation by Laura Vanderkam was a gift of wisdom and practical application as she helped us understand how to focus on aligning our time with priorities.  Before, during and after the presentation it’s no surprise that networking conversations were abundant from start to finish.  A truly remarkable exclamation point on the morning was the generous spirit in which financial donations were made for Haven’s Spark program. 

DONATION RESULTS

An amazing result for Haven’s Spark program:

$5,295 (so far!)

RESOURCE DIRECTORY

Networking connections are an essential ingredient to success.  If you have not already reached out to new connections we are happy to provide this resource directory of the companies and organizations who were participants in our Women’s International Day event.

KEYNOTE TO-DO LIST LINK

Laura’s advice hit home as evidenced by all of the head nodding going on in the room!  If you missed the link to our “more balanced life” To-Do list click here to open your personal copy!

PHOTO GALLERY

Smiles and memories of our time together at The Center sponsored Women’s International Day event. Click to view.

SAVE THE DATE 

Plan to celebrate International Women’s Day with us again next year on Friday March 8th 2019!  You can mark your calendar and we will take care of all the details!  

IN CLOSING

Women celebrating women is one example of pooling resources around a common goal.  We are grateful to have so many professional connections and women advocates in our circle of friends.  In our world of financial planning, it is not uncommon to work with accomplished women who are seeking guidance to ensure that their present plan for financial security is on track for future success.  One hurdle is that many times they don’t know someone …… consider that we might be that someone!

Laurie Renchik, CFP®, MBA is a Partner and Senior Financial Planner at Center for Financial Planning, Inc.® In addition to working with women who are in the midst of a transition (career change, receiving an inheritance, losing a life partner, divorce or remarriage), Laurie works with clients who are planning for retirement. Laurie is a member of the Leadership Oakland Alumni Association and is a frequent contributor to Money Centered.