Research Trip to Wall Street

In April, Dan Boyce and Melissa Joy joined a small group of financial planners for three days visiting Wall Street Firms. With an exclusive group of 30 participants from around the country, discussions were highly interactive. The main focus of the meetings was on Asset Allocation and Portfolio Construction in today’s market environment. Main sessions were held at Blackrock, JP Morgan Asset Management, and Goldman Sachs Asset Management.

The low interest rate environment and future return scenarios for bonds was an enduring theme across firms. It was interesting to see different strategies and perspectives based upon individual firms. Perhaps not surprisingly, the European debt crisis was also a dominant topic. We also always find value of being able to “look under the hood” of financial firms on their turf.

In addition to the larger group meeting, Melissa visited portfolio managers at IVA and American Century. Intellectual curiosity is a cornerstone of our research process and an important component to our investment committee decisions is hands-on due diligence. One of the highlights of the trip was sharing ideas with other financial planners and wealth management firms. We value insights from our peers and are always open to new ideas.

Matt Chope Glimpses the Future in Texas

Center Planner Matt Chope recently traveled to Texas to attend a Raymond James Regional Conference. Matt returned with a full plate of ideas and information to share with Center team members. According to him, “Attending the conference gave me a chance to sit with industry experts for 3 days and learn about the latest nuances in many areas of financial planning for 2012.”

Key conference highlights included:

• Listening to some of the best money managers in the business share ideas about where the economy is headed and the state of the investment environment.
• Social security experts presented ideas on the best strategies to incorporate for clients (hint hint: signing up isn’t as easy as it sounds so talk to a financial planning CFP(r) specialist first).
• Introduction of new developments in technology that foster effective use of data and help create efficient resources to serve the needs of clients. At The Center, this will mean state-of-the-art changes that will help us better plan for our clients’ futures.

Matt came back energized and excited to share what he learned with his counterparts at The Center. Luckily, he did not come back saying “y’all.” 

Aging in Lansing

Sandy Adams and Laurie Renchik weren’t seeking the fountain of youth on a recent trip to Lansing, rather they went in search of important information on aging. The two met with State of Michigan officials in the Office of Services to the Aging (OSA). As representatives for the MI Financial Planning Association (FPA), Sandy and Laurie were fact-finding in a couple of key areas:

Talking about senior financial fraud and abuse issues

•  Learning how the Government Relations Committee of Michigan’s FPA can support legislation designed to protect seniors from financial fraud and abuse
• Exploring what non-legislative opportunities exist to assist OSA staff and their senior resource hotline

Finding out what our State Agencies know about the FPA, the financial planning profession and the Certified Financial Planner™ designation (CFP®)

• The meeting helped Sandy and Laurie understand the opportunity to provide education about licensing and the meaning of credentials advisors use in the financial planning industry
• We also provided Michigan OSA officials with information about the full extent of the relationships and services we provide to our clients

Sandy found the trip was very enlightening. “I feel good knowing that we started the process of educating the OSA about our industry and that we will be providing important input to them as they propose and support legislation to protect seniors in our state.”  

Laurie agreed that the trip was an eye-opener. “The dialogue was open and confirmed that we can be a resource to elected officials, state government and the citizens of Michigan.”  She added that it takes a collaborative effort to understand how everyone can work together to protect at-risk seniors from financial fraud and abuse. 

Governor Delivers Bright Forecast

Calling for the people of Michigan to take “relentless positive action,” Governor Rick Snyder delivered the keynote address for the Birmingham Bloomfield Chamber’s Annual Government Forecast.  Five Center team members and their guests were on hand, along with about 300 attendees to hear Governor Snyder share an inspiring and positive message that focused on common-sense solutions for Michigan’s future and politics. 

Instead of putting the focus on divisive issues, he wants to find ways, during times of economic unrest, to move the state and its economy forward. After Governor Synder delivered his “the year of Good Government” themed message, attendees had ample opportunity to participate in a lively question and answer period.  Please visit Birmingham Patch for additional event highlights and news.

Center team members in attendance were Tim Wyman, Laurie Renchik, Dan Boyce, Melissa Joy and Troy Wyman.

Sandy Adams Appointed to the Wayne State University Institute of Gerontology’s Board of Visitors

Sandy Adams was recently appointed to the Board of Visitors for the Institute of Gerontology (IOG) at Wayne State University.  Sandy, who also serves on the Legal and Financial Advisory committee for the IOG, has served as the liaison to the Board of Visitors for the last two years.  “I am very excited to be involved with the Institute of Gerontology through the Board of Visitors to assist in further research, outreach and advocacy for older adults,” Sandy expressed, of her recent appointment.

 The Board of Visitors is a selected group of individuals with a commitment to and support of the mission of the Institute of Gerontology at Wayne State University.  They serve the IOG on a volunteer basis by assisting in fundraising activities, providing advisory council to the Director and select staff and by acting as ambassadors in the community. Center for Financial Planning, Inc.  continues to be a partner of the Institute of Gerontology,supporting the IOG’s mission to conduct research in the social and behavioral sciences and cognitive neuroscience to issues of aging and urban health.  The IOG uses this research to provide further education to the professional community and the public through outreach and professional partnership.