The Best $115 I’ve Spent This Year

Contributed by: Nick Defenthaler, CFP®

As some of you may have seen on past blog or social media posts, my wife Robin and I are expecting our first child in August.  Since we found out the amazing news in December, we have both been beyond excited to become parents and meet our bundle of joy.  A few weeks ago, we had the opportunity to have a 4D ultrasound. I have to say it was one of the coolest things I’ve ever experienced!  For us guys, it can be tough to fully appreciate what’s really happening when the woman you love is carrying your child.  We aren’t going through the physical changes and it’s sometimes hard for us to even fathom that we’re going to be a dad in a few short months. 

When my wife suggested we have a 4D ultrasound completed, I was all about it.  I’ve seen those incredible pictures and videos from people I know.  As cool as I thought they were, nothing could have prepared me for the amazement I felt when Robin and I could clearly see our little man’s face for the first time.  Sure, we had an ultrasound when we found out the baby’s gender, but the clarity, as most know, was very poor and muffled.  For about 20 minutes, the ultra sound tech was able to show us multiple angles of our son and she got some incredible pictures and video.  Needless to say, I lost the battle of fighting off the tears.  When we left, I had a completely different mindset and feeling.  The struggle of actually feeling like this was “real” dissipated and I felt like a father immediately. 

As time progresses and his due date gets closer and closer I’ve come to realize how much of a miracle having a child truly is.  The journey we have been on the past 7 months has forever changed my life and I can’t imagine the joy I’ll feel when he arrives.  If you or anyone you love and care about are expecting, I would highly recommend the 4D ultrasound, especially for the guys out there.  Although not covered by insurance, it was hands down the best $115 I’ve spent this year. 

The next few months will be very exciting and Robin and I are so ready to meet our son.  Stay tuned for Baby Defenthaler’s arrival and debut as the newest Center team member!

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc. Nick is a member of The Center’s financial planning department and also works closely with Center clients. In addition, Nick is a frequent contributor to the firm’s blogs.

We’d Really Like Our Clients to Know ….

Contributed by: Center for Financial Planning, Inc.

Some might say the snack drawer is the best part of the job, but there’s so much more. In this video we made for Center for Financial Planning’s 30th anniversary celebration, we asked each and every team member about the perks of working here. From getting to help clients achieve dreams and goals to having fun on the job, it’s pretty clear we value our workplace. Here’s our take on our 30-year history and what’s yet to come:

Opinions expressed in the video are those of the speakers and are not necessarily those of Raymond James.  Investing involves risk and investors may incur a profit or a loss. 

Center for Financial Planning, Inc. Named to 2015 Financial Times 300 Top Registered Investment Advisers

Contributed by: Center for Financial Planning, Inc.

The Center for Financial Planning, Inc. is pleased to announce that we have been named to the Financial Times 300 Top Registered Investment Advisers, as of June 18, 2015. The list recognizes top independent RIA firms from across the U.S, and we are proud to be one of eight firms listed from Michigan.

This is the second annual FT 300 list, produced independently by the FT in collaboration with Ignites Research, a subsidiary of the FT that provides business intelligence on the investment management industry. More than 2,000 elite RIA firms were invited to apply for consideration, based on their assets under management (AUM). The 630 RIA firms that applied were then graded on six criteria: AUM; AUM growth rate; years in existence; advanced industry credentials; online accessibility; and compliance records.  

The “average” FT 300 firm has been in existence for 23 years and manages $2.6 billion in assets. The 300 top RIAs hail from 34 states and Washington, D.C., and, on average, saw their total AUM rise by 18% in 2014.

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The 2015 Financial Times Top 300 Registered Investment Advisors is an independent listing produced by the Financial Times (June, 2015). The FT 300 is based on data gathered from RIA firms, regulatory disclosures, and the FT’s research. As identified by the FT, the listing reflected each practice’s performance in six primary areas, including assets under management, asset growth, compliance record, years in existence, credentials and accessibility. Neither the RIA firms nor their employees pay a fee to The Financial Times in exchange for inclusion in the FT 300.

Leadership Oakland Day of Service Experience is Truly Humbling

Contributed by: Sandra Adams, CFP®

Imagine decorating six houses all in one day! On Saturday, May 16th, I joined my 25 fellow Leadership Oakland classmates, former Leadership Oakland Alumni, and friends, along with employees and volunteers from Humble Design, a Pontiac-based 501c3 nonprofit organization. Together we helped fully furnish and decorate 6 existing homes for Grace Centers of Hope. The day was filled with home decorating, spring lawn clean up, and ended with a park celebration with volunteers and the families that were moved into the homes from former homelessness.  The day was particularly special as we helped Humble Designs move their 500th family into a home!

Humble Design started in 2009 and assists families in need who are transitioning out of homeless and domestic abuse shelters by providing furnishings and design services in their new place of residence.  They use donated furniture and in kind goods to turn bare rooms into a fully furnished and decorated home.  Many of their clients leave the shelter with just the clothes on their back and do not have the means to furnish their new space.  That’s where Humble Design steps in, turning the house into a livable, comfortable home.

Grace Centers of Hope is a non-profit Christian organization committed to positively changing the lives of the homeless, addicted, and unwanted through the Gospel of Jesus Christ, personal accountability, life skills education, and work-related programs. The foundation of change is the local church which encourages residents to become strong in faith and independence while it lovingly promotes a sense of belonging within a community that truly can be called “home”.

The day was filled with hard work, camaraderie, emotion and deep fulfillment as we witnessed the true joy and gratefulness of the families seeing the homes designed just for them for the first time. It was truly a HUMBLING experience!

Sandra Adams, CFP® is a Partner and Financial Planner at Center for Financial Planning, Inc. Sandy specializes in Elder Care Financial Planning and is a frequent speaker on related topics. In 2012-2014 Sandy has been named to the Five Star Wealth Managers list in Detroit Hour magazine. In addition to her frequent contributions to Money Centered, she is regularly quoted in national media publications such as The Wall Street Journal, Research Magazine and Journal of Financial Planning.

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Five Star Award is based on advisor being credentialed as an investment advisory representative (IAR), a FINRA registered representative, a CPA or a licensed attorney, including education and professional designations, actively employed in the industry for five years, favorable regulatory and complaint history review, fulfillment of firm review based on internal firm standards, accepting new clients, one- and five-year client retention rates, non-institutional discretionary and/or non-discretionary client assets administered, number of client households served.

Raymond James is not affiliated with any of the organizations/charities mentioned. 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.

The Secret to Our 30-year Success

Contributed by: Timothy Wyman, CFP®, JD

So where were you in 1985? You may have been in high school or college. You may not have even been born yet. Like our Center founders, you may have been starting your own business or career and sought out a financial planner to help in financing higher education for your kids and planning for a successful retirement. It was in the mid-80s that Center for Financial Planning got started.

Our 3 Secrets to Success

A professional services firm can’t survive, let alone thrive, over 30 years without at least three key ingredients:

1. The loyalty and support of clients. Many of The Center’s clients have been with us from the start. Our success is based of their continued relationships and the introductions they’ve made to others we can help.
2. The loyalty and hard work of our staff. It has been said that great performance can never come without great people and culture.  Our current staff is filled with a deep bench of top-notch technicians.
3. The hard work, vision and generosity of founding partners Estelle Wade (retired 2003), Marilyn Gunther (retired 2014), and Dan Boyce (retiring at the end of 2015).

Building a sustainable business requires lots of hours. Not 9-5 and no weekends kind of hours. There were sacrifices, and rewards, and I am sure our founders would agree that their success was in large part due to the support of at least 3 special people - their spouses: Gene Wade, Ron Gunther, and Sue Boyce.

Building a Foundation

Estelle, Marilyn and Dan didn’t set out to create a company. Financial planning was more like a calling. You see, in 1985, much like today, financial advice was often the pretense to selling a high commissioned investment or insurance product.  Our founders saw a new & better way to help people achieve their financial goals. The new (back then) process was called financial planning – and they quickly experienced that the financial planning process had the power to improve lives and make a difference for people. So, The Center really started with a purpose – a calling – to make a difference in people’s lives.

Estelle, Marilyn and Dan also lead by example. They always put clients’ interests first. They were always first to lend a hand around the office, no matter the task. And they were always committed to lifetime learning and personal growth. Our founders also invested in people and relationships – both clients and team members. The three are some of the most generous folks I have ever met with their time, talent, and financially. Over the years they have mentored folks both inside The Center as well as outside.  They had the foresight to begin transitioning leadership to others such as current partners Matt Chope, Sandy Adams, Laurie Renchik, Melissa Joy and me as long as 10 years ago. The foundation they provided has given our current team a platform to take The Center to new heights and further strengthen the firm for the next 30 years.

Timothy Wyman, CFP®, JD is the Managing Partner and Financial Planner at Center for Financial Planning, Inc. and is a contributor to national media and publications such as Forbes and The Wall Street Journal and has appeared on Good Morning America Weekend Edition and WDIV Channel 4. A leader in his profession, Tim served on the National Board of Directors for the 28,000 member Financial Planning Association™ (FPA®), mentored many CFP® practitioners and is a frequent speaker to organizations and businesses on various financial planning topics.

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Any opinions are those of Timothy Wyman, CFP® and not necessarily those of Raymond James. Investing involves risk and investors may incur a profit or a loss. Past performance is not a guarantee of future results.

Where’s Waldo? Or Where’s Wyman?

Contributed by: Center for Financial Planning, Inc.

If you have emailed Tim Wyman in the last couple of days you may have received his “out of office” reply. Tim is out for a bit on a scheduled medical leave of absence.  Fortunately we have a dedicated team that is ready to help if needed. For service items please feel free to contact Client Service Associate, Jennie Bauder, via our main telephone line (248) 948-7900 or at Jennifer.Bauder@CenterFinPlan.com. For financial planning questions please feel free to contact Certified Financial Planner™  Matthew.Trujillo@CenterFinPlan.com and for general operations/business items please contact Melissa.Joy@CenteFinPlan.com.

If you’d like to know the story behind Tim’s medical leave, click here to watch the Fox 2 News interview with the Wymans.

We are always here to help so please feel free to call or email as needed.

Running for Research on Team Kacy

Contributed by: Center for Financial Planning, Inc.

The Center Celebrates a 30-Year History

Contributed by: Center for Financial Planning, Inc.

From our start in 1985 through today, Center for Financial Planning has grown and changed. We dig back into our history with founders Estelle Wade, Marilyn Gunther and Dan Boyce. Their vision of serving clients has grown over the past 3 decades and we couldn’t be prouder of all we’ve achieved. Join our founders and current partners traveling through The Center’s history … back when our offices looked much different and Tim Wyman had more hair. A lot has changed, but some things we like just the way they are.

From our start in 1985 through today, Center for Financial Planning has grown and changed. We dig back into our history with founders Estelle Wade, Marilyn Gunther and Dan Boyce. Their vision of serving clients has grown over the past 3 decades and we couldn't be prouder of all we've achieved.

Nick Boguth: From Summer Intern to our Newest Hire

Contributed by: Center for Financial Planning, Inc.

He’s back!!! Or rather, we never let him leave! Please welcome Nick Boguth as The Center’s newest full time employee!  He first came to us in May of 2014 as our summer intern and quickly turned into family.  Nick will closely interact with the Investment Department and also learn Client Service Associate duties. 

His degree in Economics and Statistics from the University of Michigan made him an ideal fit for our Investment Department.  In addition to his internship here, Nick also spent a number of years in a role helping a local business, Hamilton Chevrolet, conduct client satisfaction reviews on inbound sales and service calls.   Though he’s fresh out of college, his experience makes him uniquely prepared to assist our clients.  But enough from us, here’s what Nick has to say about his new role:

How were we fortunate enough to welcome him into our ranks?

“I wanted to come work for The Center after the internship because of how much I was able to learn with the help of the everyone at the office. And I knew that would carry into the future. Also, how much everyone else seemed to enjoy working here was a great sign from the beginning.”

What are your goals for the first year of working at The Center?

“I want to make an impact and take on as many responsibilities as I can in my first year here, while learning as much as possible about investing and financial planning.”

He also plans to pursue the Chartered Financial Analyst® (CFA®) Certification as soon as possible.  When not working hard, Nick enjoys a variety of sports. He’s often playing golf, exercising, reading, watching movies and spending time with friends and family.  Welcome Nick!!!

Dan Boyce’s Ted Talk: On Becoming a Better Planner & Person

Contributed by: Center for Financial Planning, Inc.

In a matter of 18 minutes packed with self-revelation, Dan Boyce laid out his personal roadmap to success. The Center’s founding partner was picked to deliver one of three “Ted Talks” to thousands in the financial planning industry at the 2015 Raymond James National Conference in Las Vegas. Dan talked, not just about running a successful business, but being successful in life. Both, as it turns out, can be built on the same foundation. That realization, Dan says, was an eye-opener:

“The sheer audacity of this smacked me between the eyes.”

Among his “Ted Talk” key points, Dan emphasized the importance of growing through knowing. True wisdom doesn’t come from raw data, information, knowledge or judgment. To truly be wise, you must seek to understand.

Dan also delivered an inspiring message on being true to yourself. Sandy Adams, who says Dan has been one of her most important mentors, said his message really resonated. “To be a planner is to become a better person and that’s something I strive to do each and every day.”

Other important steps on the path to success include seeking and embracing feedback and developing intellectual curiosity. Both are things Dan said he personally values. Nancy Sechrist, The Center’s Office Manager, said the best thing she heard at the conference was Dan Boyce’s Ted Talk message about how to become your authentic self. “I think that resonates with everything you do career-wise, your home life, family, and just encompasses everything.”