Another One Passes the Test!

Contributed by: Center for Financial Planning, Inc.

Kali Hassinger, now CFP®, passed the test and is officially a CERTIFIED FINANCIAL PLANNER PROFESSIONAL™. After starting in the Client Services department for her first few years here and committing to her role fully, Kali decided to dive deeper into the world of financial planning. She spent the year diligently studying and has now entered the ranks of the planners. The Center is extremely proud of her accomplishments and we are thrilled to add the coveted CFP® to her title.

We asked Kali a few questions to better get a sense of her experience with the exam:

Where were you when you heard the good news? The test gives you feedback automatically now, so I was at the test center!  I called my mom first because I think she was actually more nervous than I was. Got to love moms!

How did you celebrate your accomplishment? I took the test right before Thanksgiving, so I used that long weekend as a chance to relax and have fun (without the guilt of knowing I should be studying).

What part of the test did you feel most confident in? I felt most confident in the Retirement Planning category.  A lot of the tested items are things that we talk about every day at work!

What was your favorite study aid?  I followed the study calendar provided during my review class exactly as recommended, and it worked to my benefit!

Kali will continue working as a Client Service Associate to our lead planners as she begins to take on more associate financial planner duties. Next time you’re in the office, feel free to say “Hi!” to the newest CFP® at CFP!

A Webinar in Review: Cyber Security and How to Keep Your Information Safe

Contributed by: Clare Lilek

As more and more of our personal information makes its way onto the web or into our devices, cyber security is a growing concern. Did you know that there are 12 victims of cybercrime per second?! That’s over 1 million victims per day, and 378 million per year! The numbers are staggering and the threat is all too real. That’s why Nick Defenthaler, CFP®, hosted a webinar on cyber security with guest presenter Andy Zopler to help us combat these prevalent fears. Andy Zopler, Chief IT Security Officer with Raymond James, has been doing IT work for over three decades and has been focusing on the financial services for the past 15 years. Over an hour’s time, he explained the growing epidemic of cyber fraud and not only told us how Raymond James combats such attacks, but also gave the attendees tips for practicing cyber safety in their daily lives.

Let’s set the scene: we are currently living the second technology revolution (the first being the industrial revolution). The advancements and growing pervasiveness throughout society has made technology extremely influential in how we live our lives. The technology explosion has changed the way we interact with and conduct our finances, and how criminals can access our personal, financial information. Andy Zopler addressed these concerns by first identifying the threat actors.

Knowing who the threat actors, or bad guys, are is crucial to understanding our own fear and the reality of what type of attacks are most likely to be perpetrated. Andy talked about how external factors such as criminals, spies, and hacktivists are what make up most of our concerns. Of course there are also insider and partner threat actors as well; but of the five mentioned, criminal threat actors are the most common concern. Criminal threat actors want your money, which makes them scary, but also, quite predictable. Raymond James screens about 1.5 million spam and fraudulent emails every day that are sent to their financial advisors across the United States.

The sheer amount of attempts can be worrisome, but Andy explained how Raymond James defends the company and its financial advisors (including The Center) every day. The strategy includes:

• Protect – using creative solutions to stop attacks from happening.

• Detect – assume that all protections will fail, so remain vigilant for fraud.

• Develop – invest in the training employees to cultivate the highest talent.

• Partner – Raymond James only partners with trusted and well vetted third party vendors.

This is all done at the Raymond James Cyber Threat Center, which is a key component to the cyber security strategy. Andy then explained to all attendees the different layers of defensive measures Raymond James uses to protect financial information.

Finally, Andy gave concrete actions and best practices that all of us can use individually to keep our sensitive and private information safe and out of the hands of criminals. Those tips include:

• Secure your computers (with Antivirus, firewalls, and software updates).

• Restrict your browsing behavior.

• Strongly encrypt the files on your PC.

• Change your passwords frequently and don’t share passwords among sites. When saving passwords, it’s best to use an application on your phone or put it on a piece of paper – don’t save it as a word file on your computer! Also, when possible, opt for “two factor authorization.”

• Use multiple personal emails.

• Use a separate computer for online banking.

• Insist on having verbal/phone confirmation for “high risk” transactions.

• Back up your data! On a hard drive or in a secure cloud.

Raymond James and everyone here at The Center work diligently to protect your financial information and to stop fraud and cybercrime from affecting clients. We encourage you to watch the video and rethink your own personal practices. Don’t be one of the victims of cybercrime, instead invest in your cyber security just as you invest in your future.

Clare Lilek is a Challenge Detroit Fellow / Client Service Associate at Center for Financial Planning, Inc.

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This material is being provided for information purposes only. Any opinions are those of Clare Lilek and not necessarily those of Raymond James.

A Day for Competition and a Day for Vision!

Contributed by: Kali Hassinger, CFP®

In previous years, The Center has held an annual Retreat at some point in December. This was always an opportunity to review the year, look to the future, and have a little bit of fun, too!  This year, however, we started a new tradition! Instead of one day to cover fun and business, we took two separate days to accomplish two very different goals – Competition and Vision! 

On December 11th, The Center hosted a holiday staff appreciation day at the Detroit Curling Club.  Yes, that kind of Curling.  The Curling that you’ve watched during the Olympics and thought, “Oh my gosh! I could totally do that!” Turns out, it isn’t that easy. Although it may look totally doable, Curling actually requires a lot of accuracy and finesse!  I have a whole new respect for Curling athletes (in addition to the respect for their incredible sense of style – I highly recommend a quick google image search for “Curling Olympic Uniforms”).

The office broke up into four teams and everyone dressed up to show their Curling spirit.  As usual (and as you may have guessed), it got pretty competitive!  There was plenty of friendly fire on the ice, but Amanda Toia was named the Curling MVP with an incredible game winning shot!  The day was set aside for fun and bonding, and it was great way to close the year.

In January, however, we used our energy for the New Year to focus on the days ahead.  “Vision” was the buzzword of the day as we brainstormed ways to improve personally and professionally. We don’t believe in complacency at The Center and we are always working toward new goals. It was a time to assess our current strategies and decide on how to improve upon them. 

A large part of the day focused on reviewing the firm’s Vision 2020 that was developed by the office in 2012. This Vision 2020 functions as an ideal guide on how the office would develop and improve by the year 2020.  As we reviewed the document, however, it became clear that The Center has already accomplished many of the goals set forth in the Vision 2020. Of course there are still matters that we are working on and ways to further improve, but it was great to see the vast amount of progress that has been made in just a few years. 

Although it was a luxury to take two days away from the office, both days proved themselves to be unique, worthwhile, and effective.  We absolutely want to thank our clients for their patience and understanding while the office was closed. Please know that we used this time to refocus and rejuvenate, but mostly to become a better firm for our clients!  

Kali Hassinger is a Registered Client Service Associate at Center for Financial Planning, Inc.

Leaving a Legacy – “Lessons from Dan”

Contributed by: Sandra Adams, CFP®

A new year has begun and it feels a bit different at The Center.  Dan Boyce, the last of our founding partners, has now retired and is off to start his life of new adventures. While he will not be physically be with us on a regular basis, he leaves behind a legacy of lessons that will live within all of us for the rest of our lives.

Dan was, without even trying, a mentor to us all. He taught us to be better – personally and professionally.  He taught us to develop the vision that created The Center – something that started as a business, but has turned into much more for our employees and for our clients alike. He taught us to be better people – for ourselves, for our families, for our co-workers, and for our clients. He taught us to believe in ourselves and to be the best that we could possibly be; to never stop growing and to never stop pursuing greatness.  He taught us never-ending gratitude and kindness – he exemplified this with his words AND actions.  He was the ultimate example of honesty and integrity – values The Center is built on.  And last, but not least, Dan led by example in his quest to live his plan – something he is on his way to doing now!

Please check out our video “Lessons from Dan,” below where our staff shares their favorite lesson learned from Dan over the years.  Feel free to share your favorite lessons from Dan with us.  We look forward to hearing from you!

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 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.

Audience Gets Involved at DCWS “Set The Tempo”

Contributed by: Center for Financial Planning, Inc.

The Center proudly sponsored Set The Tempo, a two-part Detroit Chamber Winds & Strings (DCWS) concert performed at Kirk in the Hills Presbyterian Church in Bloomfield Hills, MI.  Our commitment to the DCWS is longstanding and we proudly support the performances this talented group brings to audiences.  Involving the audience directly in the artistic process was a prominent theme for this innovative musical performance.

The first half of the concert featured works of three composers who are participating in a competition with composers across the country.  The three were selected from forty applicants in our region who were given 14 days to write a five minute piece for a prescribed instrumentation, which in this case included clarinet, violin and piano.  The audience was directly involved as we all had a collective vote in the competitive process.

The concert’s second half featured a performance by DCWS musicians of Wagner’s Siegfried Idyll.  DCWS Artistic Advisor, H. Robert Reynolds, led an interactive rehearsal of the work, with audience members again participating in the artistic decision making.

Set The Tempo was a different experience than a typical chamber music concert.  It required an adventuresome, intellectually curious audience and from what we observed was enjoyed by all.

Our thanks to Maury Okun, Executive Director of Detroit Chamber Winds and Strings and the musicians for providing a wonderful Sunday afternoon of musical discovery and enjoyment.

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Raymond James is not affiliated with DCWS.

The Truth Behind Getting Your Resolutions to Stick

Contributed by: Kali Hassinger

It’s New Year’s Eve, which means it’s time for New Year’s Resolutions!  Typically, this is a point when we think about the big changes in store for next year.  It’s a fresh start.  Come January, gyms will be packed, diet commercials will be constant, and people will be committed to making the New Year better!  As the days roll on, however, it’s easy to lose focus and old habits tend to creep back into our lives.  Eventually, it’s difficult to remember the resolutions that you felt so passionately about a few months ago.  In some cases, it’s because we set unrealistic expectations.  Other times it’s because life gets too busy and it’s hard to remain motivated.

I know you may be expecting me to provide you with a list of suggested financial resolutions for 2016, but honestly I’m not sure that would really help you. Change isn’t as simple as writing a list or reading a blog.  Making a real change requires so much more effort, which is part of the reason why resolutions can be so easily forgotten after a few months.  There are so many pieces that go into our habits and behaviors in life, and in order to really enact change, we have to connect our goals to our actions, logic, resources, and emotions.

According to a quick Google search, here are the most common financial resolutions each year: 

• Save More

• Pay off Debt

• Spend Less

These are very modest and sensible goals; however, these are the top 3 resolutions every year.  Keep in mind, if you are planning to include one of these three resolutions, they are great goals!  But try to be specific when establishing your plan for the New Year.  Instead of “Save more,” try saving an additional $100 each month and set it up to occur automatically.  Instead of “Pay off Debt,” try determining which credit card has the highest interest rate and target that first. I am absolutely not trying to suggest that resolutions aren’t worthwhile (I make them every year, too!).  I’m only suggesting that you ask yourself, “Why do I wait until January 1st to make my life better?”

Consider your motivation behind saving more and spending less.  It’s not because we just want to see a bigger number in our accounts.  Feeling financially secure enables us to enrich our lives with new experiences.  Instead of “Save More,” connect your savings’ goal to what it truly means – building toward a future, a trip, retirement, or whatever it is that is genuinely important to you. 

Instead of making a resolution, make a change that is:

1. Attainable

2. Sustainable

3. Meaningful

If you find that you missed a monthly deposit into your savings account (or you skipped the gym for a week), don’t give up.  Life is unpredictable and our resolutions for change have to be adaptable and resilient.  Reconnect your resolution with what it means to you on a long-term and emotional level.  We don’t need January 1st to make a change, we just need resolve and determination (both are synonyms for resolution – see what I did there?!).  Have a happy and healthy 2016, everyone!

Kali Hassinger is a Registered Client Service Associate at Center for Financial Planning, Inc.

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This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Kali Hassinger and not necessarily those of Raymond James.

2016: Branding Your New Year

Contributed by: Kimberly Wyman

A New Year is traditionally a time to set resolutions you hope to accomplish over the coming year. At The Center, we encourage you to Live YOUR Plan™ every day, but what a better time of the year to reinforce and embrace all that you wish to be, do and have.

Identifying the lifestyle that best suits you is similar to crafting a personal brand and crafting a personal brand can be greatly supported by setting goals a.k.a. setting New Year’s resolutions.

A personal brand is about:

• Realizing you already have a personal brand – everyone does. Your existing personal brand is someone’s gut feeling about you and your existing perception of yourself. Does your brand say what you want it to say?
• Acknowledging where you currently are. What is your gut feeling about yourself? What do others say?
• Recognizing where you want to be. How do you want to be perceived, by yourself and by others?
• Bridging the gap between the two points. This is your personal brand journey and an excellent lead-in to your desired lifestyle.

5 Ways to Brand Your New Year

1. What are you passionate about? Most of us know what gets us up in the morning. If you don’t, consider spending time exploring this. If you truly aren’t passionate about anything, how about if you pick something and stick with it for 3 months? By eliminating things that you’re not passionate about, it just may lead you to what you are passionate about. Knowing this passion will help you set a resolution that is sure to make you proud of yourself.
2. Where do your strengths lie? Sometimes we’re good at things that don’t interest us. But, understanding what we’re good at can help us leverage what we truly want by taking someone of the extra legwork out of the equation.
3. What do you want to learn about? Are there a million things that come to mind? Just pick one to focus on. If you have nothing that comes to mind, then just pick something and stick with learning all about it for a designated period of time. Eventually, you’ll discover things you truly want to learn about via process of elimination.
4. Where do you want to explore? Your neighborhood? You community? Your state? Your country? The world? Pick a place for 2016. Read about it, learn about it, visit…even if only virtually. This world is pretty big and pretty small at the same time. Take time to learn about another tiny corner besides that in which you live.
5. Be consistent. As with any type of branding – personal or professional – branding relies on consistency. Be faithful. Be reliable. Be steadfast. 

Having a clear vision of your desired lifestyle can help you make very good decisions about which paths you follow and which you choose to decline. Having a clear vision of your desired lifestyle will also make planning for your everyday and your future easier. Make life count. Live YOUR Plan™ and Happy New Year!

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Any opinions are those of Kimberly Wyman and note necessarily those of Raymond James. 2016: Branding Your New Year

How The Center Spends the Holidays

Contributed by: Center for Financial Planning, Inc.

Once Halloween passes, the shift in the atmosphere is palpable, the holiday season approaches! Families gather together after time apart or spend special time together. No matter what holiday you and your family celebrate together, this time of year is filled with traditions. Whether it’s decorating your house, eating certain kinds of food, traveling, baking, or singing, holiday traditions bring people together and help foster cherished memories. The Center team is no different. We have holiday traditions we share with our families each year. Here are some of our favorites:

Sandy Adams keeps her family on the same traditions path that she and her brother shared as children. No Christmas decorations are put up until AFTER Sandy’s birthday on the 14th of December, that’s when the season can officially begin in her household! Her kids exchange presents on Christmas Eve, just as Sandy and her brother did growing up.

Do you love Christmas cookies? How about 600 of them?! Jennie Bauder and her family (kids included!) hone their baking skills each year and make a varied sort of delicious cookies to give as gifts to extended families, teachers, neighbors, and the mailman.

Speaking of cookies, Melissa Parkins and her family have a cookie-decorating contest each year. Nothing like a good ‘ol competition to start off the Holiday! Her family also celebrates Christmas Eve with a Mexican twist, including enchiladas galore!

Jennie Bauder

Melissa Parkins

Gerri Harmer and her extended family have taken Christmas celebration to a whole new level! They get together mid-Summer and celebrate Christmas in July - and they love it! Gerri shares, “Our family has grown so large we can’t fit in the house and weather always tends to be an issue for those that travel.  Our family has a great sense of humor so Christmas in July was perfect for us. We hang out at the lake with travelers camping nearby arriving by car or boat.” This year they even had t-shirts made.

Kimberly Wyman describes her tradition with her children as including, “Grabbing a hot chocolate with the kids and preparing our holiday gift list! Beyond gifts for grandmas and grandpas, our list includes baking cookies for fire fighters and police officers, toys for local families, tamale baskets for families in Guatemala & live stock for Ethiopian families. Involving the children and fostering a love of giving worldwide is a passion of ours.”

Gerri Harmer

Kimberly Wyman

Partner Matt Chope, and girlfriend Kim Schultes, started a new tradition this year during Thanksgiving. They donned red noses and makeup and joined the Clown Corps in the annual Thanksgiving Day Parade in downtown Detroit.

New member to our team, Clare Lilek, describes her family tradition: “Every Christmas, since moving from our hometown of Chicago, my family and I travel back to Chicago to see our extended family. On Christmas Eve we go to church at Holy Name Cathedral, have dinner at Joe’s Seafood, Prime Steak & Stone Crab (it’s amazing!), and spend the rest of the evening watching a movie in our hotel. It’s wonderful!”

Matt Chope

Clare Lilek

For your viewing enjoyment, Raya Chope and her family get together each year and sing Christmas songs and carols in both English AND German! Raya claims in her family, there’s never a dull moment. From the video, that seems about right!

What are some of the traditions that you and your family will share together this holiday season? Whatever your traditions, all of us here at The Center wish you and your family a Happy Holiday!

From Founding Partner to Client of The Center

Contributed by: Daniel Boyce, CFP®

As I move into my new life in retirement from the profession I've loved for the past 35 years, I'm looking forward to a more leisurely pace of life and continuing to pursue my other abiding passions--making music, philanthropy, working with non-profits to build capacity and effectiveness in education and the arts, as well as pursuing leisure activities such as working on my tennis game, playing bridge, and hiking around the Prescott area.  More than anything, I'm looking forward to being available for Sue and family activities with my children and grandchildren.

As with Estelle Wade and Marilyn Gunther, the other Founding Partners of Center for Financial Planning who both retired before me, I will now become a client of The Center, like many of you.  I will have my Annual Review meeting and take advantage of the integrity I find throughout the firm and the planners' enormous capacity to handle whatever issues might arise in my future.  And so I move into territory unknown yet to me; but with great hope and confidence and anticipation. 

The short video shares a few more thoughts with you about my retirement:

Daniel Boyce, CFP® is a Founding Partner and Financial Planner at Center for Financial Planning, Inc.

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Chairman's council membership is based on prior fiscal year production. Re-qualification is required annually.

The Value of Family Holiday Traditions

Contributed by: Timothy Wyman, CFP®, JD

I must admit, as time passes (read: as I get older), I have come to appreciate and desire Family Traditions. Perhaps your family always spends time together up north over Thanksgiving, or your extended family always attends church together on Christmas Eve, or perhaps you make it a point to always have dinner with family on New Year’s Eve. Regardless of the specifics, each of these traditions provides lifelong memories and helps create solid bonds between everyone you share those traditions with.

One Family Holiday Tradition that I am trying to continue is an annual giving day. Several years ago my wife Jen and I established a Donor Advised Fund. I have written about the income tax benefits in the past – but that’s not the whole story. Over the years Jen and I decided which charities to benefit with our funds; which has been very gratifying. Last year, however, we decided to include our three kids, ages 21, 20 and 13, in some of the decisions.  We shared that as families we wanted to donate $1,000 from our donor advised fund and needed their help in determining where it should go. Ultimately we chose two groups: Wounded Warriors and Covenant House of MI. Don’t tell my kids, but I really didn’t care which organizations they decided to support. My interest was in the conversation the act of giving sparked and the hopeful transfer of VALUES and not just VALUE. This family tradition allowed Jen and me to talk about how important we feel it is to be engaged in our community and give the gift of time and sometimes money. It also gave us a time to reflect on how fortunate we are in so many ways individually and as a family. And lastly, dang it felt good! J

Like most things worthwhile in life, carrying on a Family Tradition (at least a positive one) takes commitment, time, and some energy.  What are some of your favorite Family Traditions?

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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Raymond James is not affiliated with Wounded Warriors or Covenant House of MI. You should discuss any tax matters with the appropriate professional.