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.

Zingerman's Shares Leadership Philosophy

What do Zingerman’s and The Center have in common? 

Zingerman’s is, of course, the renowned Ann Arbor company noted for its great food and service.   The Center recently hosted a half-day presentation by Zingerman’s at its annual staff retreat, exploring a philosophy known as “servant leadership.”

Giving great service to staff is one of the important components of Zingerman’s great service to its customers.   At its Dec. 16 retreat The Center team learned about this leadership philosophy, and how it can supplement The Center’s long-standing commitment to client service.

An added bonus were all the tasty Zingerman’s  foods we all shared during breakfast!

Gregg Bloomfield, Matt Chope, Amanda Toia, Troy Wyman, Tim Wyman

Jaclyn Jackson, Melissa Cyrus 

Welcome 2012. Nice to Meet You!

On behalf of our 19 team members, Happy New Year! The headlines thus far in 2012 trumpet the rhetoric of a contentious presidential election, difficult economic issues in Europe and beyond, and a rare Detroit Lions appearance in the playoffs. As advisors, we keep the world’s events in mind, but know that your personal milestones are our first priority.

In order to assist you in accomplishing your life goals and achieving financial confidence, we have been working on a variety of initiatives for you.

• In February we will present 2012 Financial Planning & Investment Opportunities at the Bloomfield Township Library. There will be a day and evening session, in addition, a recording for our clients residing across the nation (a few worldwide too!). We will cover a variety of topics, which include the potential income tax landscape as the Bush tax cuts are set to expire. We will also provide a snapshot of today’s investment landscape and share our view of the future. And as always, review our well-grounded investment principles designed to help you appropriately plan while taking into consideration taxes, inflation, and fees.

• Throughout the year we will offer a variety of educational workshops for you and guests. Topics include Social Security (maximizing benefits for those that have yet to begin receiving benefits), Medicare strategies, Social Media (with an emphasis on safe-guarding your privacy in a wired world), and an Investment Forum. These programs are intended to provide sound advice concerning today’s most relevant financial topics, so please feel free to invite your family and friends to share in these educational opportunities.

• As you may know, we have partnered with The Oakland Press and launched our Money Centered Blog that provides actionable advice surrounding many of today’s financial planning and investment opportunities. Under the leadership of Sandy Adams, CFP®, we have enjoyed the opportunity to communicate with you and our community more frequently. This blog is a great way to share our collective experience, judgment and commitment to your well-being with relevant financial planning and investment topics, and it continues to energize our internal conversations and stretch our leadership in the financial planning community. Look for a new post three times per week! We have also launched Center Connections, a blog that will keep you apprised of news, events, and announcements concerning our clients, our team, and The Center.

Since our firm's founding in 1985 our advice, tactics and strategies have changed, but the core tenets of financial planning have remained the same: helping you with your most important goals. Whether it’s a successful retirement, providing education funding for children and grandchildren, or planning the legacy of your estate, our highest satisfaction is not the dollars and cents of a rewarding investment but your accomplishments which our financial conversations can foster.

We look forward to our work together through 2012 and beyond.