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President’s Message
SAVE THE DATES!
October 13, 2004Fall Retreat - Ethics - Golf Outing
November 10, 2004Quarterly Dinner Meeting
INSIDE THIS ISSUE
Presidents Message .........................1
Fall Golf/Ethics RetreatRegistration Form......................... .4
Pro Bono FinancialPlanners Care ............................... 5
Take Steps Now to Enhance Your Professional Profile ................6
Study Groups .................................7
Planning Considerations For Your Personal Residence ... .......... 8
Education .....................................10
Government Relations .................11
Human Resources .......................12
Public Awareness .........................13
FPA . . . The Heartof FinancialPlanning This isour new positioningstatement, seeking
to describe who we are and what we repre-sent. It offers us energy, a challenge and anopportunity to reach the grander vision weseek, and compliments our Core Ideology.Over the coming months, you will see moreon this new initiative.
Your FPA Philadelphia Tri-State Board andcommittees continued to work hard on yourbehalf during the summer, and are startingto focus on planning for next year andbeyond. There is much work to be doneand we are always looking for volunteersfor various committees: Education(Quarterly Meetings, Spring Symposium,Fall Retreat, Study Groups), PublicAwareness (Financial Planning Week,Financial Literacy Programs, working withthe media), Membership, Development andProBono. Please contact Chris Stewart(215-295-0729) or John O’Brien (610-251-9393) to lend a hand.
The Nominating Committee is deliberatingon a new slate of officers and candidates forthe board of directors. You should receivevoting materials shortly. Please vote.
The Fall-Retreat is scheduled for October13th at the DuPont Country Club inWilmington, Delaware. Information on theprogram and a reservation form are includ-ed in the newsletter. Thanks to LizDonaghy for setting-up a terrific program!
National Financial Planning Awareness Week is scheduled for October 4th to 10th.
Proclamations are to be issued by theGovernors of Delaware, New Jersey andPennsylvania and the Mayor ofPhiladelphia.
Our public awareness program continues tomake strides in generating attention to ourChapter, financial planning and recognitionof CFP’s. We are working with PerceptionInc., a public relations firm with a focus onmedia relations and publicity to enhanceour efforts. Thanks to Joslyn Ewart andthe public awareness committee for theirhard work.
Our membership committee continues towork on providing value to members.They recently organized a summer socialevent at the Camden Riversharks baseballgame. Thanks to John O’Brien for arrang-ing this event, which was enjoyed by all(the diamond club suite and buffet workedout well during the rain delay).
Our final meeting for 2004 is onNovember 10th at the Radnor Hotel. Thekeynote speaker will be Courtney Pullen,who will present a workshop on learningcommunication tools that facilitate collabo-ration. Thanks to Jim Lewis for coordinat-ing the quarterly meetings.
Best regards,
Mike Mattise, CFP®
Radnor Financial Advisors485 Devon Park Drive, #119Wayne, PA 19087(610) 975-0285(610) [email protected]
Philadelphia Tri-State Area
FPA Philadelphia Tri-State Area P.O. Box 38 Fairless Hills, PA 19030 888.445.0900 www.fpaphilly.org
www.fpaphilly.org September 2004A Gold Level Chapter
The primary aim of the Financial Planning Association is to be thecommunity that fosters the value of financial planning and advancesthe financial planning profession.
2004 Board of DirectorsOFFICERSChairmanAl Marland, CFP®, EA, CLU, ChFC(610) 293-1059 fax (610) [email protected]
VP - Human ResourcesJohn O’Brien, CFP®
(610) 251-9393 ext 202 fax (484) [email protected]
Eugene A. King, CFP®, MST(215) 364-9160 fax (215) [email protected]
PresidentMichael N. Mattise, CFP®
(610) 975-0285 fax (610) [email protected]
VP- Public AwarenessJoslyn G. Ewart, CFP®
(610) 649-8703 fax (610) [email protected]
Irvin G. Schorsch, III, CFP®
(215) 881-7700 fax (215) [email protected]
President-ElectDonald W. Nicholson, Sr.(302) 529-1500 fax (302) [email protected]
Chairman - Study GroupsJoseph P. Halpin, CFP®
(610) [email protected]
Robert O. Smith, MS, CFP®
(610) 524-9761 fax (610) [email protected]
SecretaryDale Pope, JD, CLU(610) 909-3301 [email protected]
DIRECTORSAndrew W. Davitt, Esq.(215) 575-2679 fax (215) [email protected]
Pamela Holland-Townsend, CFP®
(610) 766-3051 [email protected]
TreasurerScott Michalek, CFP®
(215) 979-1604 fax (215) [email protected]
G. Eric Faddis, CFP®
(215) 646-3484 fax (215) [email protected]
Stephen P. Wetzel, CFP®
(215) 321-9312 fax (215) [email protected]
VP - DevelopmentJoseph A. Romano, CFP®
(215) 646-1772 fax (215) [email protected]
John Hochschwender, CFP®
(610) 429-4090 fax (484) [email protected]
AdministratorChris Mucci Stewart(215) 295-0729 fax (215) [email protected]@comcast.net
VP - Education/ProgramsJeffrey R. Lauterbach, JD(302) 636-8507 fax (302) [email protected]
Keith W. Johnson, CFP®
(866) 740-7033 fax (484) [email protected]
MARK YOUR CALENDAR
October 13, 2004Fall Retreat - Ethics - Golf Outing
Dupont Country ClubWilmington, DE
October 4-10, 2004Financial Planning Awareness Week
November 10, 2004Quarterly Dinner Meeting
Radnor Hotel
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DIVERSIFY YOUR CLIENTS’ PORTFOLIOSWITH REAL ESTATE INVESTMENTS
“Incorporating private real estate investmentsinto our clients’ portfolios was one of the mostimportant events in Sage’s history. Our clients’portfolios realized better diversification, higheryields, and consistent return potential.”
- Alan J. Cohn, CFP®
Co-President
“Our practice has benefited by increasedassets under management from our clientsand acquiring more high-net worth clientreferrals.”
- Stephen L. Cohn, CFP®
Co-President
Sage Real Estate Group specializes in the development, management and distribution of privatereal estate investments for the local Delaware Valley Financial Advisor community. An affiliate ofSage Financial Group, Sage Real Estate Group’s approach to investing employs the same suc-cessful philosophy Sage Financial Group has used over the past 15 years – hire the best portfoliomanagers and make sure the portfolios are well diversified. Call us today to see how Sage RealEstate Group can help you help your clients.
We Know Your Business BecauseWe Are In the Business
Sage Financial Group manages in excessof $500 million and was recentlyrecognized by the Financial PlanningAssociation as one of the best managedfinancial advisory firms in the country.
Sage Real Estate Group33 Rock Hill RoadBala Cynwyd, PA 19004T 610-667-4440 F [email protected]
FOR ADVISOR USE ONLY. NOT FOR USE WITH PUBLIC.
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FALL RETREAT 2004
REGISTRATION FORMPlease Print
Name:_______________________________________________________________________________________Company:____________________________________________________________________________________Address:_____________________________________________________________________________________City:________________________________________________ State:____________ Zip Code:______________Phone:_________________________________ E-Mail_______________________________________________Please list name(s) of preferred golf partner/foursome:____________________________________________________________________________________________________________________________________________
***********TEE TIMES ARE FIRST COME FIRST SERVED . LIMITED AVAILABILITY*************
ALL PRICING INCLUDES BREAKFAST AND LUNCHCOCKTAIL RECEPTION AND PRIZES FOLLOWING GOLF
FPA Member: Education Only $60 Education & Golf $140 Education & Tennis $85Non-Members: Education Only $95 Education & Golf $175 Education & Tennis $120
Education Only: $______________ Education & Golf: $_____________ Education & Tennis $_____________
Total Amount Enclosed: $____________
*Cancellation Policy: Written notification 72 hours prior to Retreat for refund.No-Shows will be billed. NOTE: Golf reservations must be cancelled 30 days in advance.
Please choose which course(s) you will attend.
____ I will attend Introduction to Wealth Counseling and the Values Based Legacy Planning Process from 7:30am-8:30am
____ I will attend The Roles and Responsibilities of a Fiduciary from 8:30am -9:30am
____ I will attend the CFP Ethics Course from 10:00am-12:00 (2 Ethics Credits)
********OR**********
____ I will attend Creating a Media Relations Strategy to Attract and Retain Your Ideal Client from 10:00am-11:00am.
********OR**********
____ I will attend Now That I Know What I Want, How Do I Implement? from 11:00am-12:00
Credit Card Payment: Visa Discover MasterCard American Express
Card Holder’s Name_______________________________________________________________________________________
Card Number:______________________________________________________________________________Exp.___________
Card Holder’s Signature____________________________________________________________________________________
Please make checks payable to: FPA Philadelphia. If paying by credit card, you may fax your registration to 215-295-3652
Please mail your registration form and your payment to: FPA Philadelphia Tri-State Area, P.O. Box 38, Fairless Hills, PA 19030
Please contact Chris Stewart at 215-295-0729 with any questions.Directions to Dupont Country Club can be found at www.dupontcountryclub.com
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Fifteen (15) FPAfinancial plannershave signed up tointegrate FPA ProBono services intheir business com-munity. They areeither workingindependently or asa team with one ortwo other FPA plan-
ners. This grass roots effort will be pene-trating eleven communities to bring theFPA Pro Bono message to their chosencommunities. The planners picked theircommunity.
These Planners are spearheading our FPAservices in Pennsylvania communities,namely, Chester, Conshohocken, Glenside,King of Prussia, Malvern, Narberth, LehighValley, Bucks County, NE Philadelphia,and Chester County, and WilmingtonDelaware.
More Financial Planners are needed. NewJersey has no Pro Bono planners involved.Many Pennsylvania and Delaware townsneed planners.
Maybe you are asking why should I dothis? What's in it for me? How much timewill it take? Will it cost me money? Willmy community appreciate my efforts oftime, ideas and money? The answer isunequivocally YES to all your questions!We already have successes.
Pro Bono services are the right thing to do.We share ideas. We presently do communi-ty service in some fashion. Maybe it ishelping an elderly or financially strappedperson with some advice. Maybe you con-duct a workshop for your church, library ofsome non-profit organization. They are ProBono services. Well now you can do thesame but piggyback on the FPA Pro Bonosponsored program and possibly get morerecognition.
In addition we have a "Cash Flow &Budgeting" power point presentation thatthe committee has prepared. We are in theprocess of developing other power pointpresentations, such as, credit cards & debt /
cost of check cashing agencies / rentingor leasing furniture & appliances / man-aging a household / paying bills & man-aging a checking account / investing,rates of return & inflation / and whatev-er else your communities need.
All power point presentations andupdates will be available to anyone whodevelops a Pro Bono service programwith an organization. Once you havequalified to receive the presentationsyou may use them for personal use withyour clients and organizations withwhom you presently serve.
Join the FPA Financial Planners Care, APro Bono Serve Committee Now!Email Chris Mucci Stewart with yourinterest or me directly. Once we have alist of volunteers we will schedule anorientation meeting to explain in moredetail how you will benefit from yourefforts both financially and psychologi-cally (psychic income). You could beyour communities recognized FPAFinancial Planner who puts somethingback in their community. Do it Now!
Contact: Chris Mucci Stewart [email protected] or Gene King [email protected]
We look forward to your involvement.
Eugene A. King, MST, CFP®, CSAPro Bono ChairpersonKing Financial Advisors1631-B Loretta AvenueFeasterville, PA 19053(215) [email protected]
Pro Bono Financial Planner Care
* No reallocations from the Most Conservative Option will be permitted into theAge-Based Conservative Portfolio 16 – 18 Years and 19+ Years and Age – BasedAggressive Portfolio 16 – 18 Years and 19+ Years.
If you are not a resident of Pennsylvania,you may want to investigate whetheryour state offers a 529 plan with additional tax advantages to its residents.ThePennsylvania State Treasury sponsors TAP 529.TAP 529 Investment Plan optionsare managed by Delaware Investments,a respected mutual fund company.Delaware Investments is the marketing name for Delaware ManagementHoldings, Inc.and its subsidiaries,which are part of Lincoln Financial Group.Lincoln Financial Group is the marketing name for Lincoln National Corporationand its subsidiaries. Investment advisory services for the Investment Plan(excluding the Socially Responsible Investments Options) are provided byDelaware Investment Advisers,a series of Delaware Management Business Trust,and Delaware International Advisers Ltd.Administrative services are provided byDelaware Service Company, Inc.,and distribution and marketing servicesprovided by Delaware Distributors,L.P.
Help your clients maximize their investment options,and tax savings, with PA’s TAP 529, one of the most attractiveand competitive 529 plans in the industry.For more information, please contact John Logan, LincolnFinancial Distributors: 877-533-0118, ext. 26105
Sponsored byThe Pennsylvania State TreasuryBarbara Hafer, Treasurer
Special tax treatment• Federal and PA state tax-deferred growth• Federal and PA state tax-free withdrawals for qualified higher
education expenses (federal expires 2010 unless extended) • Unique estate and gift tax provisions
Portfolios designed to meet a variety of investment needs• Two Age-Based Portfolio• Five Risk-Based Portfolios• Two Socially Responsible Investment Options• Guaranteed Savings Plan (only available if the Account
Owner or the Beneficiary is a Pennsylvania resident)
Flexibility• High maximum contribution limit of $300,000• Use funds at most colleges and career schools in the
U.S. (and many abroad)• Systematic Reallocation Plan-Account Owners can
dollar-cost-average among investment options.*
NOT FDIC INSURED. NOT A DEPOSIT. MAY GO DOWN IN VALUE. NOTBANK GUARANTEED. NOT INSURED BY ANY GOVERNMENTAL AGENCY.
TAP 529 Quick Facts…
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Take Steps NOW To Enhance Your Professional Profileby Christina Dakkak
Perception, Inc.Have you thought about ways to differentiateyourself from other financial planners in thecommunity? Would you like to garner atten-tion for you and your company in an effort toincrease the potential for new business?Well, look no further. The FinancialPlanning Association - Philadelphia Tri-StateArea Chapter is looking for members whoare willing to help publicize the organizationand its members as the premier experts inyour immediate community. By volunteering,you become familiar to new prospects asreliable and as the professional of choice.
The chapter has been working withPerception, Inc., a public relations consult-ant, on opportunities and projects to get theFPA name in front of the media. To date,members have been featured on CN8, GoodDay Philly, WB 17, Kiplinger's PersonalFinance, Christian Science Monitor, and The
Philadelphia Inquirer. And we are notslowing down with our plans.
We are currently in the planning stage forour most dynamic, event-filled FinancialPlanning Week ever. From October 4ththrough October 10th, the FPA will beconducting a variety of educational pro-grams at senior centers, high schools andarea universities, as well as interviews inmedia outlets in an effort to promote theweek and the FPA. We are already col-lecting proclamations from mayorsdeclaring it Financial Planning Weekthroughout the area. In fact, the Mayor ofWilmington was first.
We also want to make you aware of anopportunity to learn how to talk with themedia, how to pitch stories, and how todifferentiate you and your business from
your competition. Ben Lewis, president ofPerception, Inc., will be conducting amedia training workshop titled, "Hitting AHomerun With Media Relations," onOctober 13, 2004, in Philadelphia. Thiswill be a good time for you to learn the"tricks of the trade" so you can become amedia pro for your own business. Moreinformation will become available as wemove closer to the presentation date. Wewill be sure to keep you informed.
In the meantime, we ask all membersinterested in actively participating in themedia and publicity efforts of the chapterto contact Joslyn Ewart (the chapter's vicepresident of public awareness) at 610-649-8703 or [email protected]. Youcan also contact Christina Dakkak ofPerception, Inc. at 301-963-7555 [email protected].
FPA Launches Fresh Identity StatementProvides simple way to share Core Ideology
Committed to positioning ourselves as the organization of thefinancial planning community, FPA® felt it was increasinglyimportant to have a singular statement that reflects who we are,but also what we aspire for the association.
Out of this vision came a new identity statement: FPA - TheHeart of Financial Planning. Going beyond mere words, FPAseeks to tie a feeling to the organization, a feeling so many of usexperience each and every day. Whether we work with clients orthose who serve them, we help make a difference in their lives.
This statement encompasses our Core Ideology, bringing togetherthose who deliver financial planning, those who support it andthose who benefit from it - reflective of the first three statementsin the Primary Aim.
At last year's Leadership Conference, chapter leaders asked ifthere was a simple way to say the Primary Aim. Our identitystatement serves to provide that.
FPA hopes to embrace this simple yet powerful statement as away to share and practice our Core Ideology. With the help ofour chapters and members, keeping this statement in the center ofour thoughts is key to keeping compassion and integrity in ourwork. FPA is indeed the Heart of Financial Planning!
NEW GROUP: Wilkes-BarreScranton/Pocono Area
Melissa C. Diana, CFP®
570-714-1402 [email protected]: call/email Melissa
New Group: Jenkintown Area
Jim Dresselaers, CFP®
1-800-667-0952
On behalf of the Board, Iwish to thank Stuart Brill,CFP®, for his hard work,dedication, and leadership ofthe South Jersey StudyGroup. Stuart has led theGroup for almost ten years.We are looking for a volun-teer to fill his position.
Please contact Stuart (856-797-5000) or me (610-431-1036).
I would also like to thank Rich Busillo, CFP®, forhis interest in starting a Center City Study Group.Rich is the President of RTD Financial Advisors,Inc., 30 S. 17th Street, Phila., Pa. 19103. Rich will besending invitations to members in the Center Cityarea soon. For questions about the Group: Pleasecontact Amira Adams at RTD: 215-557-3800.
Joseph P. Halpin, CFP®
J.P.Halpin & Co., LLC1604 Bane WayWest Chester, PA 19380610-431-1036 [email protected]
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Study Groups
Center City Philadelphia Group
Rich Busillo, CFP®
President, RTD Financial Advisors, Inc.30 S. 17th StreetPhiladelphia, Pa. 19103215-557-3800 [email protected] contact Rich by email for schedule ofmeetings or call Amira Adams at RTD.
South Jersey Group
Stuart Brill, CFP®, EA, [email protected] Route 73 South, Suite 111,Marlton, N.J. 08053 Schedule: Second Wednesday of themonth (6:00 PM - 8:00 PM)Location: AG Edwards & Sons901 Route 73 & Lincoln DriveMarlton, N.J. 08056
Jersey Shore Group
Larry R. Schneider, JD, CFP®
[email protected] American Express Financial Advisors2000 Shore Road, Suite 201Linwood, N.J. 08221 Schedule: 3rd Thursday of eachquarter (4:30 PM - 6:30 PM)Location: call/email Larry
Main Line Group
Joseph P. Halpin, CFP®
[email protected]: 1st Wed. of Feb., April, Oct.,Nov. & Dec. (8:00 AM - 9:15 AM)Location: Planco/Hartford1500 Liberty Ridge DriveWayne (Chesterbrook) PA. 19087
Delaware/West Chester Group
Robert S. Pennartz, CFP®
[email protected] HouseCenterville, DE 19807 Location :Concord Plaza, Silverside Rdnear Concord Pike, Talleyville, DESchedule:Cal/email Bob
Allentown/Doylestown Group
John D. Rossi, CPA, CFP®
610-861-1380 [email protected] College1200 Main St.Bethlehem, PA. 18018Schedule: call/email John Rossi
If you are interested in becoming active in
the Association, please consider the
opportunity to form a Jenkintown
Study Group.
Contact Joe Halpin at [email protected]
Prepare for Successon the November, 2004
CFP® Certification Examination
Live CFP® Certification Examination ReviewPresented by The American College
in partnership withKenneth Zahn and Associates
Experience 4 full days of intensive review from an expert instructor dedicated to preparing you for success on the comprehensive exam.
Dates: October 21-24, 2004Location: Renaissance Philadelphia Airport HotelCost: $700
ACT NOW! Pre-study materials are ready for shipping.
For more information or to register, contact
888-263-7265 www.amercoll.edu
Certified Financial Planner Board of Standards, Inc. owns the marks CFP®, Certified
Financial Planner™, and CFP (with flame logo)®, which it awards to individuals who successfully complete initial and ongoing certification requirements.
8
Planning Considerations For YourPersonal Residence
By Olivia H. Stoner, Esq, CFP® andSamuel Foley,Jr., Esq. MBA
Foley, Thompson & Dews, LLP2112 Walnut Street, 4th Floor
Philadelphia, PA 19103
Your residence is probably your mostimportant asset. It is the focus of yourfamily. It is where you feel safe and warmand connected to each other. For those inearly life, a home is a place full of possi-bilities, to be filled with the realization ofdreams. For those in mid-life, it is a placefilled with energy and the sounds of life.For those in later years, it is a place offamiliar comfort that still echoes with thejoys of earlier days.
Traditionally, the home has also been agood financial investment. It has been aninvestment that has risen steadily over thepast several decades with less volatilitythan the stock market.
The home also has important attributesfrom a tax, estate planning, and asset pro-tection perspective.
1. Gain in the value of your home is taxfree up to $250,000 ($500,000 if marriedfiling a joint return) as long as you havelived in the house for two years. Forexample, if you are single and paid$200,000 for your home, you could sell itfor $450,000 and not pay any income taxon the increase in value.
2.Your home may provide asset protectionadvantages. In some states, such asFlorida and Texas, your home is complete-ly exempt for attachment in a bankruptcyproceeding. In other states, likePennsylvania, some of the equity in thehome can be shielded from creditors.Pennsylvania also recognizes "tenancy-by-
the-entirety" ownership between spous-es, and a creditor of one spouse cannotforce a sale of the home to pay off thedebt.
3. Your home is not considered an avail-able resource when determining eligibil-ity for Medicaid benefits.
4. Your home is not considered whendetermining financial aid needs at mosteducational institutions.
5. Your home can enable you to doadvanced estate planning such as aQualified Personal Residence Trust, or"QPRT." With a QPRT, you can make agift of an interest in the home to yourchildren, through a form of "split-inter-est" estate planning. Split Interest plan-ning refers to dividing an item of prop-erty, a personal residence in the case ofa QPRT, into a current use period and aremainder use period. With a QPRT, theresidence owner transfers a personal res-idence to a properly drafted irrevocabletrust. The owner retains the right to usethe property held in the Trust as a per-sonal residence for a set term of years.The set term of years is the current useperiod. At the end of the current useperiod, the owner's right to use the resi-dence terminates and the residenceeither goes to, typically, the owner'schildren or is held in trust for their benefit.
6. There is an estate tax benefit if yourhome grows in value faster than the
interest rate assumed by the IRS, sincethe additional growth is passed with-out any tax.
7. The QPRT agreement may be draft-ed so that at the end of the QPRT termthe parent may retain a contractualright to reside in the residence by rent-ing the residence at market rent. Themarket rent payable to the trust is notsubject to income tax because the trustis a grantor trust even after the currentuse period. Therefore, the rent furtherreduces the parent's estate without anygift, estate or income taxes beingimposed.
Your home is important for you, bothemotionally and financially. A quali-fied estate-planning attorney can helpyou plan to make the most of yourhome during your life and after youare gone for the benefit of your heirs.
Olivia H. Stoner and Samuel Foley, Jr.are partners in the law firm of Foley,Thompson & Dews, LLP and membersof the American Academy of EstatePlanning Attorneys. For more infor-mation or to attend an upcoming freeseminar, call 215.557.0097.
9
October 4 -10, 2004Financial Planning
Awareness Week
The Public Awareness Committee is looking forvolunteers to provide generic seminars on a
variety of subjects at the Free Library ofPhiladelphia branches.
Please contact Pamela Holland-Townsend if you can help 610-766-3051
Financial Planning Tax Planning
Retirement Planning Investments
College Planning Estate Planning
Insurance
Market your practice and educate currentand prospective client’s with FPA’s CFP®
Brochure Line. The Ask Your CFP®
Professional About series has beenupdated to reflect new and changing taxlaws and other information vital to stayingcurrent in today’s changing marketplace.
Designed specifically for use in yourpractice, each brochure emphasizes thecritical role of a CFP® practitioner inassessing client needs. The brochuresare written in question-and-answer formatand cover topics essential to your client’soverall financial plan.
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Samples available upon request.
Planning Assistant
Responsible for completing the detail work and for the planner(s) you are assist-ing, allowing the planner to spend as much time possible working directly withclients. This individual should possess the following qualities:
- Can self manage once given general instructions.- Has strong problem solving capability.- Is good with computers and has worked with MS Office.- Can think "outside the box" to anticipate what a planner might
need to help his client.- Is detail oriented and can follow through to be sure that tasks
have been completed.
Friendly and terrific work environment at Chester County financial planningfirm: Fax resume and salary requirements to (509) 479-2672.
Fairleigh Dickinson UniversityFinancial Planning Certificate Program
FACULTY SEARCH
10
With 2005 fastapproaching theEducation Committeehas begun planning ourChapter programs fornext year. We expectto add one dinnermeeting in 2005 to upour total to four duringthe year (January,March, July and
November), plus the Symposium in May andthe Fall Retreat. Many members have volun-teered to serve on the various task forces andsub-committees that make all of the programspossible. Only through this involvement canthe Chapter manage to improve the quality ofour education offerings. The list of taskslooks Herculean when you look at by your-self, but with over 20 members involved noone spends too much time, and the Chaptermembers get a better result because of all thedivergent views and creativity that is broughtto bear.
Coming up on October 13, Liz Donaghy andher committee have planned a great programfor the Fall Retreat. Keynoters Rod Zeeb ofThe Heritage Institute and Don Trone of theFoundation for Fiduciary Studies will set thetone. Then breakouts for ethics (rememberthe every two year requirement) and for ses-sions on practice marketing and management.
Good golf, too. The meeting will be downsouth at the DuPont Country Club inWilmington. Sign up now to attend.
And remember to save November 10th forour fall dinner meeting. The speaker willbe Courtney Pullen, Denver psychologist,discussing Conversation Technology.Learning how best to position dialogue withclients produces more meaningful relation-ships and assists advisors in helping theirclients truly achieve their goals.
Please let me know at [email protected] you have time you are willing to give orideas you wish to share so that our chapter'seducation programs are the best.
Continued success,
Jeffrey R. LauterbachThe Capital Trust Company of Delaware2711 Centerville Road, Suite 210Wilmington, DE 19808(302) [email protected]
Education
“Use what talentsyou possess; the
woods would be verysilent if no birds sang
there except thosethat sang best.”
--William Blake
Fairleigh Dickinson University's Financial Planning Program seeks to expand its distinguished FinancialPlanning Program faculty base. Adjunct, part-time faculty positions are available to teach in various disci-plines such as financial planning process, insurance, investments, income tax planning, retirement planning
and estate planning. Openings are in the Mount Laurel Area, Princeton, Cherry Hill and Atlantic City areas.
Fairleigh Dickinson University's Financial Planning program is New Jersey's oldest, largest and most success-ful program registered with the Certified Financial Planner Board of Standards.
We prefer applicants who hold the CFP® and have prior professional and teaching experience. An advancedegree is desirable.
Please send your resume to Richard M. Bettencourt, Executive Director, Fairleigh Dickinson University, 285Madison Avenue, M-DH2-01, Madison, NJ 07940.
11
FPA GovernmentRelations AdvocacySite Online.For the latest infor-mation on advocacyissues, please go tohttp:// www.fpanet.org/ member/govt_relation/index.cfm.The GR web sitecontains recent FPAcomment letters,
links to important CFP® professional issues,securities, insurance, and tax information.
FPA Political Action Committee.In November of this year, every member ofthe U.S. House of Representatives and one-third of the U.S. Senate will face the voters.FPA-PAC is an invaluable tool in represent-ing the views of the financial planning pro-fession in Washington on such key issues asinvestment advice, savings incentives, andAMT reform. Contributions to FPA-PAC areentirely voluntary. Please help FPA supportyour interests in Congress by giving gener-ously to FPA-PAC.
YES! I want to contribute to FPA-PAC.Enclosed is my personal contribution in theamount of:$25 $50 $100 $250 $500 $Other ______
Please charge $________ to my personalcredit card.Visa Mastercard American ExpressAccount # ________________________ Exp. Date __________
Signature__________________________________
Prefer an incremental credit card paymentplan? See Below.
Contributions to FPA-PAC are not deductiblefor federal income tax purposes. Contrib-utions made by corporate check cannot beaccepted, however, sole proprietorshipmonies are acceptable. Only U.S. citizensand persons admitted to the U.S. for perma-nent residence may contribute to FPA-PAC.
Federal government contractors are pro-hibited from contributing. All contribu-tions prohibited by law will be returned tothe sender. Federal law requires politicalaction committees to report the name,mailing address, occupation, and name ofemployer for each individual whose contri-butions aggregate in excess of $200 in acalendar year.Make checks payable to FPA-PAC andmail to:
Treasurer, FPA-PAC1615 L Street, N.W., Suite 650Washington, DC 20036202.626.8770 Fax: 202.626.8233
Name__________________________________Please print
Occupation_______________________________
Firm__________________________________
Firm Address______________________________City ___________ State____ Zip _____
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FPA Files New Comments with SEC onBroker-Dealer Rule. FPA has filed a newcomment letter with the SEC against theproposed broker-dealer exemption from theAdvisers act for fee-based programs, notingthat it has been more than four years sincethe rule was proposed. FPA also cited fail-ure by the SEC to comply with the spiritand intent of the federal AdministrativeProcedures Act for inaction on a pendingrule, even though it has permitted broker-dealers to rely on the exemption as if it werealready approved. To review the FPA's com-ments, please go tohttp://www.sec.gov/rules/proposed/s72599/fpa062104.pdf.Senate Provision May Affect PlannersWho Prepare Tax Returns. The U.S.Senate has passed H.R. 1528, The TaxAdministration and Good Government Act,that is similar to legislation passed previ-ously by the House. Most of the provisionsin both bills were inserted at the request ofthe Treasury, IRS, and the Joint Committeeon Taxation and are considered to be "tech-nical corrections." However, a provision inthe Senate version would require that anyperson paid to prepare five or more federalincome tax returns per year would have toregister with the IRS and pass an initialexam to test technical knowledge and com-petency as well as annual refresher examsthat include tax law updates. This provisionwould apply to persons not currentlyauthorized to practice before the IRS
Robert O. Smith, MS, CFP®, CSA®, CLTCComprehensive Financial Advisers561 Exton CommonsExton, PA [email protected]
Government Relations
12
Human ResourcesMember Benefits Are AllYours - Just Ask!Our Philadelphia Tri-Statewas awarded top status as agold level chapter for goodreason last year! Here areways you can get more outof your membership:Volunteer for a Committee!Not in the boring old fash-ioned way you remember
from 6th grade; but by giving your input and meet-ing with some of your friendly and dynamic peers.Here are a few examples:a. Public Relations. Joslyn Ewart and team havemore media leads and projects than possible rightnow. Email her at [email protected]. Pro Bono. Gene King and team have given suc-cessful presentations to groups - you can too withsupport of National FPA and our Pro BonoCommittee.Contact Gene at [email protected]. Education. Jeff Lauterbach and team decide thetopics and invite speakers for our meetings andsymposiums. Interested in helping plan a bettermeeting? Contact Jeffrey at [email protected]. Membership. We have the need to plan somesocial events and work with new CFP's. Contactme at [email protected] Your involve-ment in our FPA makes the membership more thana meeting and a magazine! Call me today and I willget you started!
You Can Refer a New Member!
You can benefit from referring a new member - andit's easy! You get two $25.00 gift certificates goodtowards chapter meetings. Only the member and/orthe referred new member can use these certificates.Sharing one of your certificates is an excellent wayto introduce a new member to our chapter and thebenefits of membership. Our chapter's programsupplements the National FPA's "Member-Get-a-Member" Program. To get your rewards from theFPA Philadelphia Tri-State Area, send your referralby name to our administrator Chris Mucci Stewartwho will verify the new member and send you athank you letter with the two $25 certificates. Shecan be reached at [email protected].
Social Event - We had a great time at the CamdenRiversharks Baseball game in August. We'll keepyou posted on the next event.
Please contact me if you need anything.
Best Regards,
John O’Brien, CFP®
Vice-President, Human ResourcesOrtner, O’Brien & Ortner Advisory Group4 Mystic LaneFrazer, PA 19355(610) 251-9393 ext. 202(484) 527-0101 (fax)[email protected]
Welcome New Members!
You will all be invited to a welcome mixer before our next
Quarterly Chapter Meeting! A special invitation is coming.
For a prospectus containing more complete information, such as risks, charges, and expenses associated with investing inmutual funds, please call 800-548-7786. Please read the prospectus carefully before you invest or send money. Investmentsand services offered through Morgan Stanley & Co. Incorporated, member SIPC. Employee names have been changed to pro-tect their privacy. Morgan Stanley, Client Link, and One Client At A Time are service marks of Morgan Stanley. © 2003Morgan Stanley.
Understanding your business is our businessMorgan Stanley Investment Management works with Registered Investment Advisors to
fully comprehend your business and your
clients’ needs. We offer a broad range of tailored services and
investment products, including:
Proprietary Morgan Stanley research
Economic and investment commentaries
Client LinkSM—a private, password-protected Web site customized for RIAs
Institutional pricing and management for Morgan Stanley Institutional Funds
To find out more about Morgan Stanley Institutional Funds and our commitment to
Registered Investment Advisors, please visit us at www.morganstanley.com/im.
Jeffrey B. BroadhurstCarrie L. Fellon
Donald FosterAnn Fourakis
Louis J. GuerraLee Johnson
Douglas W. Lundblad Augustine A. Repetto
Gary L. RodenPeter Rohr
Marlon D SmithDwayne SnyderRobert Varga
Tinkham Veale, IVJonathan Viscounte
13
FPA's President,Elizabeth Jetton, justannounced National'sfresh identity state-ment - the Heart ofFinancial Planning.Jetton reports thatthis statement"speaks to FPA'sdesire to be the cen-tral place where those
who deliver financial planning, those whosupport it, and those who benefit from it cometogether and are enriched."
With this motivational spirit in mind, ourPublic Awareness committee urges you tobecome personally involved in at least oneactivity to celebrate Financial PlanningAwareness Week - October 4th - October 10th,2004. Pamela Townsend (610.766.3051) isheading up a group scheduled to presentgeneric Financial Planning seminars at locallibraries. Christina Dakkak (301.963.7555)can connect you with local high schools who
have requested programs. Also, she is organ-izing members interested in presenting tobusiness undergraduates at the University ofDelaware. Please contact me regarding otherevents you have planned. Note that page 6of the newsletter is devoted to helping youpromote your event to your local press.Remember to send us a copy of your localarticle, so we can add it to our Web site.
If you haven't already done so, please visitour Web site: www.fpaphilly.org and enjoy!Click on 'Press Room,' and then 'In TheNews' and scroll through our Chapter'srecent Media Events. Thank you to every-one who has provided a story theme. Wewelcome more ideas. One never knowswhat may appeal to the press or when!
Evelyn D'Amico successfully contactedHilary Hunt, the Director of FinancialEducation for the Commonwealth. An infor-mal meeting was held with Hilary, to learnwhat her plans are for the implementation ofPennsylvania's high school financial literacy
Public Awarenessmandate. We emphasized our Chapter'sinterest in helping with this crucial stateinitiative. Be on the lookout for a surveythis fall, which will gather data to deter-mine your interest and commitment toassisting us.
Our Public Awareness committee offers aheartfelt Thank You to all members fortheir work on behalf of the associationand the community at large. We inviteyou to join our talented team! ContactJoslyn today: 610.649.8703
Joslyn G. Ewart, CFP®
Vice President, Public Awareness
Entrust Financial, LLC
44 West Lancaster Avenue, Suite 200
Ardmore, PA 19003(610) 649-8703(610) 649-8803 (fax)[email protected]
Health Insurance Rates Up 15% AgainThis Year?
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THANK YOU SPONSORS!GOLD SPONSORS
Stephen PfauMorgan Stanley
One Tower BridgeWest Conshohocken, PA 19428
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Alan J. Cohn, CFP®
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THANK YOU SPONSORS!SILVER SPONSORS
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Kevin MillsomPBHG Funds
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FPA TODAYPhiladelphia Tri-State AreaP.O. Box 38Fairless Hill, PA 19030
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