Senior Financial Planner Joins Center Team: Meet Michael!

Welcome to the team!

The Center proudly welcomes Michael Brocavich, CFP®, MBA to our team. With nearly 13 years of experience in the profession, Michael is thrilled to join a team where he can collaborate with other professionals to further enhance his career as a financial planner. 

Background

His extensive background includes both personal and corporate finance. After earning a BA in Economics and Management from Albion College, he launched his career in finance with Federal Mogul in Southfield, Michigan. He then went on to earn an MBA from Wayne State University and relocated to Chicago, where he worked as a senior financial analyst, first for Federal Mogul and later Barton, Inc.

Michael entered the personal finance field in 2007 when he joined MetLife Investors' Marketing and Distribution division. In 2013, he opened an Edward Jones office in Northville, Michigan, helping individual investors and small business owners with financial goal planning and wealth management.

Specialties

He joined Raymond James Financial Services in May of 2017 as a financial advisor specializing in financial planning, wealth management, and estate planning. 

Personal Life

Michael and his wife live in nearby Plymouth. In his spare time, he enjoys golf, the company of friends and family, and everything Detroit Sports.

FireEye, SolarWinds, and The Center

Contributed by: James Brown

The Center Armor

As the Senior I.T. Manager at The Center, I would like to let our clients know that Cybersecurity and protecting our client’s information is of the highest priority in our technology department. Our security structure encompasses a multi-vendor firewall protected network and off-premise connections are made via secure multi-factor authentication across a virtual private network. The desktop and laptops used at The Center are protected with multiple real-time scanners for viruses, malware and unauthorized applications.

SolarWinds

The SolarWinds attack was a software supply chain attack that could allow malware to be loaded and provide a remote threat agent with access to network data. The breach at FireEye did result in the theft of Red team tools that could cause a problem in the future. The SolarWinds attack compromised government agencies, providers as well as private sector organizations. Though providers and companies began quarantining and patching their systems in the days after the discovery, we are bound to learn more about the effect and depth of the attack.

Attacks such as these often lay dormant but we are confident that our firm data and systems have not been impacted by this attack. Along with our vendors 24 hours a day, 365 days a year monitoring, we perform endpoint analysis to monitor our Internet traffic to look for any anomalies that could be a sign of an exploit.

Defense against the Known and Unknown

Vigilance is the only defense against cyber threats. We will continue to monitor our network and endpoints but we also recommend that our clients stay vigilant and take precautions to protect themselves and their data.

• Monitor your social media and financial accounts for unauthorized changes.

• Use complex passwords, PINs and answers to security questions.

• Enable two-factor authentication on all financial accounts.

• Do not share personal identifying information on social media, email or a Web site.

• If you receive a link in an email about your online account information, do not click on it. A better practice is to go the normal login page that you use for that institution and login with your two-factor authentication as you normally do.

James Brown is a Senior IT Manager, at Center for Financial Planning, Inc.® With more than 30 years of technology experience, he manages The Center’s technology resources.

Want to “Go Paperless” for Fund Prospectuses?

Contributed by: Nicholas Boguth

If you’d prefer not to receive fund prospectuses by mail, there is a way to enroll in a paperless option.

Check the front of the envelope that you receive from Raymond James. It will have the instructions pictured below. There will be a box in the top right corner with a 20-digit number in it. Go to FundReports.com or call (866) 345-5954 and enter the 20-digit code.

From there, you have the 3 options below to choose from:

1. “Go Paperless” – to receive the prospectuses by email.

2. Receive a “Notice” – rather than the full prospectus, this will be a smaller piece of mail letting you know that a prospectus is available online if you’d like to access it.

3. Receive a “Paper Report” – to continue to receive the full prospectuses by mail.

Having trouble?

If you are a current client or have a Raymond James account, please give us a call. If not, we suggest calling the customer service number on your statement or calling your financial adviser.

If you are interested in hiring a financial adviser, give us a call! The Center is a financial planning firm based in Southfield, MI that serves clients nationwide.

The Center Celebrates 35 Years In Business

Contributed by: Center for Financial Planning, Inc.®

35 years…another milestone reached! We had big plans to host an outdoor client appreciation event, but due to the unexpected Covid 19, we were forced to adjust.

Plans shifted to holding our first-ever virtual event. Clients and friends were invited to enjoy a Detroit History Tour presentation. We chose to take a Detroit Zoos tour (out of several interesting options). While everyone knows and loves the zoo located in Royal Oak…the city wasn’t its first home. The journey began in 1895 on Belle Isle.

As many attendees have visited the zoo over the years, it was a wonderful opportunity to look back in time and feel nostalgic. We definitely learned a thing or two…like how a monkey could be purchased for just $6 and how the cost to feed the animals drove the Belle Isle zoo to bankruptcy.

The virtual experience was made possible by Detroit History Tours.

A Message From Our Managing Partner:

We are excited to celebrate 35 years and thank you all for your continued confidence and trust. Serving you is an awesome responsibility and privilege, so thank you for allowing us to be of service. I’d like to share just a few of the highlights of The Center’s journey.

The Center was founded in 1985. Many of our clients began their relationship working with one of our founders, Dan Boyce, Marilyn Gunther, and Estelle Wade.  Make no mistake, these three were financial planning pioneers. Now strategies, tactics, and yes people have changed since 1985 – but the foundation, values, and pillars such as focusing on the financial planning process, creating comprehensive plans that encompass every aspect of a client’s financial life and well-being, focusing on long term relationships, and placing clients interest first have remained the same.

One of my favorite quotes is by Vivian Greene, “Life isn’t about waiting for the storm to pass. It’s about learning to dance in the rain.”  At the risk of stating the obvious, 2020 has been quite a storm. The health and economic fallout of Covid 19 has been trying for all of us. There have been other challenging times in our 35-year history. While The Great Recession in 2008-2009 did not include a pandemic – it certainly had severe economic and financial instability; all portfolios were impacted, and it was the first time in The Center’s history in which revenues dropped significantly from the preceding year. Back then, like today, we avoided layoffs and kept our entire team intact to ensure clients were well taken care of. There will be other challenging times and fortunately, The Center has experience helping families survive and thrive during these moments. We have always placed people, clients, and team members, over profits and we will continue to do so in the years ahead.

Over the years, with proper planning, our clients prospered, we earned the right to attract new clients, and the firm continued to grow at a measured pace. This was a time when we spent considerable time planning out Marilyn and Dan’s retirement transition for 2014 and 2015. We were very intentional in crafting plans to ensure that clients would receive the same world-class service that our founders provided as many of you began working with new lead financial planners. This was also a time when we moved our office up the street to our current location – our new space reflects our values of teamwork & collaboration and real & down to earth.

So here is what the firm looks like today. We are a team of 30 dedicated, driven, competitive, and highly credentialed professionals. We serve over 800 clients and are responsible for managing assets in excess of $1.2 Billion. 

Financial planning done right has the power to improve lives. And from the beginning, The Center has been committed to building a sustainable business based upon sound fiduciary practices. That is, what is in the best interests of you, our clients, drives our decision making and service offering. Saying that we follow a fiduciary standard or place clients first is not a tag line – it is at the core of who we are.  Thank you again for allowing us to serve you and thank you for being a part of our 35th anniversary!

Timothy Wyman, CFP®, JD

Managing Partner

"So you want to talk about race" Center Book Club Discussion

Contributed by: Center for Financial Planning, Inc.®

Founded in the midst of quarantine, the Center team stayed connected with its first ever book club. Not only has COVID-19 changed our reality, but so has the Black Lives Matter movement. We desired to further educate ourselves on that topic by reading So you want to talk about race by Ijeoma Oluo.

Oluo is a Seattle-based writer, speaker, and (self-proclaimed) Internet Yeller. She was raised by a white single mother and became a single mother herself to two mixed-race sons at a young age.

In the book, Oluo argues that America's political, economic, and social systems are systematically racist. She provides advice for discussing race-related subjects. While published in 2018, the book received renewed attention following the killing of George Floyd in May 2020.

Some Center Team members share their thoughts below:

“A much greater appreciation for how the lived experiences of others are so often very different than my own and a better understanding and greater urgency for how to work together to make the world a better and more equitable place.” -- Lauren Adams, CFA®, CFP®

“The intention of our actions (although important) is not as important as the impact of our actions. We are all privileged in some way, whether it be our education, citizenship, having loving parents, or even food to eat. It is not necessarily a bad thing. We can use it to help others. And we learned about the theory of intersectionality which is the interconnected nature of social categorizations such as race, class, and gender as they apply to any given individual or group.” -- Gerri Harmer

“I really enjoyed discussing the book! It required me to stretch myself and think about difficult topics on a personal level. This endeavor was made more comfortable by hearing from others that they were experiencing similar feelings.” -- Jeanette LoPiccolo, CFP®

“I’ve gained a much deeper awareness and understanding for those different than myself. What we say and the choices we make impact the future of those who start with disadvantages. If we work together to take action now, we can make this world a more diverse, dynamic, creative and inclusive place where we’re all on an equal playing field.” -- Sandra D. Adams, CFP®

“The 400 years of oppression that some people in our “fair and equitable” society endured….is shocking. Today, it’s still not fair or equal; there is a significant underlying bias in society that we have not yet found an appropriate remedy for.” -- Matthew E. Chope, CFP®

If you’re looking to challenge your perspective, give this a read! Well, that’s a wrap for the first Center Book Club reading. Until next time!

Any opinions are those of the professionals at Center for Financial Planning, Inc and not necessarily those of Raymond James.

Matthew Chope, CFP® Named to Forbes 2020 Best-in-State List

Center for Financial Planning, Inc.® is pleased to announce that Matthew Chope, CFP® has been named to Forbes 2020 list of "Best-in-State" Wealth Advisors in Michigan for the 2nd consecutive year, where he ranked 82nd in the state.

“Matt always puts his clients first,” said Josh Bitel, CFP®, an Associate Financial Planner who works closely with Matt. “Over the course of 30 years in the industry, he’s helped hundreds of clients by genuinely caring about their needs. Matt remains an outstanding example of how to build and maintain relationships through trust and honest work.”

In addition to helping individuals and families with financial planning, Matt also works with local corporations and non-profits on strategic planning and business management decisions. He oversees and manages several local endowments and is a member of the Financial Planning Association of Michigan, The Estate Planning Council of Metro Detroit, and the CFA Society Detroit.

The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 32,000 nominations, more than 4,000 advisors received the award. This ranking is not indicative of advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC.

Timothy Wyman, CFP®, JD Named to Forbes 2020 Best-in-State List

Center for Financial Planning, Inc.® is pleased to announce that Timothy Wyman, CFP®, JD has been named to Forbes 2020 list of "Best-in-State" Wealth Advisors in Michigan for the 3rd consecutive year, where he ranked 62nd in the state.

“It’s great to watch Tim in action, both in his roles as a financial planner and as a leader,” said Andrew O’Laughlin, a Client Service Manager.  “The first words that come to mind when I think of Tim are commitment, enthusiasm, decisiveness, fairness, and diligence.  Tim exudes the core values of The Center, taking phenomenal care of the clients we serve, and leading by example for the people who get to work with him every day.”

In addition to working directly with clients and helping them achieve their financial goals, Tim is the firm’s Managing Partner and a member of the Operations Committee. He is a leader in his profession, serving on the National Board of Directors for the 28,000-member Financial Planning Association. Tim is frequently asked to speak on financial planning topics by local and national media outlets.

The Forbes ranking of Best-In-State Wealth Advisors, developed by SHOOK Research, is based on an algorithm of qualitative criteria, mostly gained through telephone and in-person due diligence interviews, and quantitative data. Those advisors that are considered have a minimum of seven years of experience, and the algorithm weights factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients. Portfolio performance is not a criteria due to varying client objectives and lack of audited data. Out of approximately 32,000 nominations, more than 4,000 advisors received the award. This ranking is not indicative of advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Neither Raymond James nor any of its Financial Advisors or RIA firms pay a fee in exchange for this award/rating. Raymond James is not affiliated with Forbes or Shook Research, LLC.

Nick Defenthaler, CFP® Named to 2019 Forbes Best-in-State Next-Gen Wealth Advisors.

Contributed by: Center for Financial Planning, Inc.®

Nick Defenthaler, CFP® has been named to Forbes 2019 list of "Best-in-State Next-Gen Wealth Advisors" in Michigan, where he ranked 35 in the state. Each advisor—selected by SHOOK Research—is chosen based on an algorithm of qualitative and quantitative criteria, including in-person interviews, industry experience, compliance records, revenue produced, and assets under management.

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SHOOK Research considered advisors born in 1980 or later with a minimum 4 years relevant experience. Advisors have built their own practices and lead their teams; joined teams and are viewed as future leadership; or a combination of both. Ranking algorithm is based on qualitative measures derived from telephone and in-person interviews and surveys: service models, investing process, client retention, industry experience, review of compliance records, firm nominations, etc.; and quantitative criteria, such as assets under management and revenue generated for their firms. Investment performance is not a criteria because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC. Neither SHOOK nor Forbes receives compensation from the advisors or their firms in exchange for placement on a ranking. Raymond James is not affiliated with Forbes or Shook Research, LLC. This ranking is not indicative of advisor's future performance, is not an endorsement, and may not be representative of individual clients' experience. Out of 6,389 advisors considered, 1,489 made the final list in 2019. For more information see www.SHOOKresearch.com.

Our very own Matt Trujillo crowned 2019 Chess Champion!

Contributed by: Gerri Harmer

The Center’s own Matt Trujillo has added chess champion to his list of accomplishments! Client Service Manager Gerri Harmer recently sat down with Matt to talk about his road to victory at the Michigan Bottom Half Class Championships.

Gerri Harmer: Congratulations on your recent victory! Let me ask you some clarifying questions so the folks at home know what this is all about! First, can you tell us a little bit more about the tournament you just played in and how the championship is decided?

Matt Trujillo: Sure I would be happy to. The tournament is held annually in Lansing, Michigan and is divided into five sections or classes. The lowest section is either for people without a rating (brand new to tournament chess) or a rating lower than 900, and then each section after that is 200 points higher than the previous section.

Gerri Harmer: So were you in the section with the beginners?

Matt Trujillo: No, my section was Class A, which is for players rated between 1800 – 1999. This is considered the top class, so it was definitely stiff competition.

Gerri Harmer: Wow that does sound like some pretty stiff competition. So was it just bragging rights or did you win anything to go with your title?

Matt Trujillo: There is no money in chess unless you are ranked in the top 10 in the world. At my level, it’s a few hundred dollars and a big trophy, but what really motivates me is the bragging rights. It’s a game of strategy and tactics, and I want to be the best.

A ‘Swiss style’ tournament

Gerri Harmer: What was the tournament format like? Was it round robin style, where everyone plays everyone, or a bracket format?

Matt Trujillo: It’s actually neither of those. The way these tournaments work is called a “Swiss Style” tournament. In round one, your section is divided by your rating coming into the tournament. So if there is 50 people in the section, the highest rated player will be paired against the 26th rated player and the 2nd highest rated player will be paired against the 27th highest rated player, and so on and so forth. After round one, winners play winners and losers play losers.

Gerri Harmer: So how many games do you have to win to be crowned the champion?

Matt Trujillo: Every win you get is worth one point, a loss is worth zero points, and a tie (draw) is worth half a point. I finished the event with three wins, two draws, and zero losses, which means I had four total points out of a possible five.

Gerri Harmer: So if you keep winning every round, do you play against someone else that won every round as well?

Matt Trujillo: Yes, that is exactly right. There was a total of five rounds, and going into the fifth round, I had two wins and two draws for a total of three points; however, my opponent had three wins and one draw, so he was actually in first place going into the final round.

Gerri Harmer: Wow! So if you had lost or got a draw, what place would you have taken?

Matt Trujillo: If I had drawn I would have taken 3rd, and if I had lost, I wouldn’t even have had a spot in the winner’s circle. It was truly a must-win situation going into the final round.

Sticking to his game

Gerri Harmer: Did you change your strategy at all given that it was a must-win?

Matt Trujillo: No, I didn’t. Some players will do that and play a more aggressive style when they know they have to win, but I prefer just to stick to my game. I play a certain style that I know really well, and I have found through past experience that if I deviate from that, it usually doesn’t end well!

Gerri Harmer: Good idea to stick to your guns! Did the game last a long time since there was so much on the line?

Matt Trujillo: Every game of the tournament lasted a long time, and the final round was no different. Every game I played was right around four hours long.

Gerri Harmer: Four hours long? I don’t know if I could sit still for that long! So when is your next tournament?

Matt Trujillo: Ya, it definitely takes a high level of patience and mental discipline to compete at this level! Good question about my next tournament…I’m not really sure. I was planning on playing in the Michigan Open on August 30th, but that is labor day weekend, and Diane and the kids want to go up north, so that tournament is off the table! I might play in a few small, one-day tournaments, but the next big one will probably be in January 2020.

Gerri Harmer: Well congratulations again on this accomplishment, and best of luck to you in January!

Gerri Harmer is a Client Service Manager at Center for Financial Planning, Inc.® She specializes in client service, event planning, and marketing.