Center News

Sandy Adams, CFP®, Earns Certified Financial Transitionist™ Designation

After two years of intense study with the Sudden Money® Institute, lead financial planner and partner Sandy Adams, CFP®, can now add the CeFT™ (Certified Financial Transitionist™) designation to her list of credentials. 

What is a Certified Financial Transitionist™ (CeFT™)?

Every person will experience at least one of the following major life transitions, and the likelihood that more than one at a time will be experienced increases with age.

  • Inheritance
  • Loss of a parent
  • Loss of a spouse
  • Divorce
  • Major career change
  • Retirement
  • The sale of a business
  • Insurance settlement
  • Pro sports or entertainer contract

Whether they begin with an inheritance, the sale of a business, or both simultaneously, transitions thrust individuals and families into a position once considered stable that is now suddenly in flux. Traditional financial planning definitely covers the bases when it comes to important topics such as taxes, investments, cash flow, and estate planning. But that’s only half of the experience of financial change. The other half is the human experience. 

 “As a Certified Financial Transitionist™, I understand human transitions on their deepest levels. I know what influences the way we think and act when our world has suddenly and irrevocably changed. I’m able to identify when a transition is going well and I have tools to help further enhance the experience. And if a client is struggling with their transition, I know how to keep them confident and help them work through their difficulties.”

The Sudden Money® Institute (SMI) has spent 16 years studying the psychology, sociology, and neuroscience of change. They’ve even delved into what thought leaders in the business world say about change and adaptation. They know that perceptions and expectations about change are powerful and can profoundly affect thinking and decision-making.

Sandy is excited to use her tools and new set of skills to help current and future Center clients navigate life transitions. If you think you or someone you know might be helped by having a partner to assist them in balancing the personal and technical side of financial change – give Sandy a call.  She is happy to help!

The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of Sandy Adams and not necessarily those of Raymond James.

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Something Cool is Coming Your Way from Raymond James Investor Access!

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Contributed by: Amanda Toia Amanda Toia

We would like to introduce you to Vault -- our online content management and file sharing platform available to those clients enrolled in Investor Access. This free service offers an easy way to upload secure information that you and your Financial Planner may view from any internet connected computer or mobile device. Vault fosters collaboration with easy file sharing and the ability to comment on uploaded information. It is safe, secure, and super user friendly.

While you have the ability to add virtually any document you would like stored, some of the most common items clients have placed in their Vaults are:

  • Insurance policies

  • Outside information such as your 401(k) statements

  • Tax returns

While there is a file limit of 200MB there is no storage limit, meaning you can store as many documents to your personal Vault as you want. Most file types are accepted although there are some exceptions: .exe, .bat, .pif, .pi, vbs, etc. are not currently compatible with this platform.

Both clients and planners can upload a multitude of documents that will not be deleted by Raymond James, however, you may delete any file you personally upload. There is also a file sharing feature available for authorized representatives such as your CPA, attorney, or eligible family members.

Getting started is easy. Just log in to your Investor Access account and click on the “Vault” tab. Once you have accepted the terms and conditions, you will be able to begin using this feature. If you are not using Investor Access, please sign up by visiting our webpage and click the Investor Access tab at the top to enroll.

Amanda Toia is a Registered Client Service Manager at Center for Financial Planning, Inc.

Center for Financial Planning, Inc. Named to 2016 Financial Times 300 Top Registered Investment Advisers

Center for Financial Planning, Inc. is pleased to announce it has been named to the Financial Times 300 Top Registered Investment Advisers, as of June 16, 2016. The list recognizes top independent RIA firms from across the U.S. This is the second year The Center has been on the list.

This is the third annual FT 300 list, produced independently by the Financial Times Ltd. in collaboration with Ignites Research, a subsidiary of the FT that provides business intelligence on the investment management industry.

The “average” FT 300 firm has been in existence for 22 years and manages $2.6 billion in assets.

More than 1,500 pre-screened RIA firms were invited to apply for consideration, based on their assets under management (AUM). Applicants that applied were then graded on six criteria: AUM; AUM growth rate; years in existence; advanced industry credentials of the firm’s advisors; online accessibility; and compliance records. Neither the RIA firms nor their employees pay a fee to The Financial Times in exchange for inclusion in the FT 300.

The 300 top RIAs hail from 34 states and Washington, D.C.

The FT 300 is one in series of rankings of top advisers the FT produces in partnership with Ignites Research, including the FT 401 (DC retirement plan advisers) and the FT 400 (financial advisers from traditional broker-dealer firms).

This award is bestowed by an independent third party organization not affiliated with Raymond James.

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Center Stories: Timothy Wyman, CFP®, JD

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Contributed by: Timothy Wyman, CFP®, JD Tim Wyman

If video had been around before the English idiom “a picture is worth a thousand words,” was first uttered, the phrase just might have been “a video is worth a million words.” 

A successful financial planning relationship is very personal, and for it to be truly successful it has to not only be personal but also worthy of trust. While education and credentials are important and the written word or professional bios provide a great medium to learn more about our backgrounds, trying to find out if a planner or firm might be a good fit is difficult to ascertain from words alone. Therefore, if we haven’t had the privilege of meeting yet I hope this video allows you to see, feel, and hear why I am passionate about helping folks make good financial decisions – it’s what I love to do.

If you feel that we might be a fit, please feel free to reach out. And if we decide to work together, you can be assured that I will do my best to stand in your shoes and use my roughly 25 years of experience to your benefit.

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.

FINRA BrokerCheck Rule Adds Resources to Our Website

Contributed by: Melissa Joy, CFP® Melissa Joy

BrokerCheck is a free tool managed by financial industry regulator FINRA. This site researches professional backgrounds of investment adviser firms, their advisers, and brokers as well. You can search the background of your adviser for licensing, credentials, employment information, and misconduct.

In an effort to increase awareness of the services offered by BrokerCheck, advisers are now required to provide a link to this service on their websites. This information must be displayed on an advisory firm home page as well as biography pages.

In conjunction with these new rules, we have updated our website to provide these links. We are always proud to share our background with you and anyone interested in The Center and our services. We also think that regulatory efforts to increase disclosures to investors are in the best interest of everyone.

Melissa Joy, CFP® is Partner and Director of Investments at Center for Financial Planning, Inc. In 2013, Melissa was honored by Financial Advisor magazine in the Research All Star List for the third consecutive year. In addition to her contributions to Money Centered blogs, she writes investment updates at The Center and is regularly quoted in national media publications including The Chicago Tribune, Investment News, and Morningstar Advisor.

Financial Advisor magazine's inaugural Research All Star List is based on job function of the person evaluated, fund selections and evaluation process used, study of rejected fund examples, and evaluation of challenges faced in the job and actions taken to overcome those challenges. Evaluations are independently conducted by Financial Advisor Magazine.

An Ode to the 10th and Final Fun Run for CRN

Contributed by: Timothy Wyman, CFP®, JD Tim Wyman

Have you ever had a moment that was so meaningful it’s etched in your mind like it was yesterday? Perhaps it was a special birthday as a kid – your first bike – first kiss – your wedding day – the birth of your child or even the loss of a loved one.

For me one of those moments was roughly 10 years ago sitting in a dimly lit hospital room. My daughter Kacy, 3 years old at the time, had just gone through hundreds of tests and finally her pediatrician – no, her medical angel Dr. Sonja Earles—just finished putting the medical puzzle together, diagnosing Kacy with Cystinosis.

The doctor on call came into the room and sat with my wife Jen and me. He looked us in the eyes and while I am sure he gave us the medical info, what I recall was him saying was that our family was in for a great challenge and that Kacy’s care was not going to be easy but a long tough road. Then he paused for what seemed to be an eternity and then said, “I’ve observed Kacy and how you both care for her and I know that you can do this.”

He said, “You can do this,” and I believed him.

As I looked over at Kacy with IV’s in both arms, hardly taking up ¼ of the bed I saw the toughest little person I know—I believed him. As I looked at Jen and saw an even tougher, committed and loyal person; if it meant getting up multiple times in the night to give meds or change bedding, I knew she could do it—I believed him.

As I thought about our family, Kacy’s brothers Matt & Jack, her grandparents, her aunts and uncles and the support they would give Kacy and us – I knew we could handle it because we were not alone—I believed him.

When I thought about our friends and community, all that we thank for emotional and financial support; for the meals, the love, the prayers, and the support when we needed help—I believed him.

Ten years ago when three young men – Jacob Ruby, Zack Neff, and Jarred Brately—selflessly gave us the gift of the Fun Run, I really knew we could do this.

Thank you for all who participated in presence, spirit, or financial support in the 10th and final Fun Run for Cystinosis Research this past May 1st. While we don’t have a cure for Cystinosis just yet; the funds that were raised over the last ten years have made a significant difference for all of the children living each day with this disease. The Cystinosis Research Network, an all-volunteer organization, continues to fund research and gives us hope that a cure will be found during Kacy’s lifetime.

So many people have played an important role in our lives over the last ten years. What does the next ten years look like? I don’t know; no one really does. But I will close with a quote that embodies Kacy and the three young men who started the Fun Run, this quote acts as a guide for how we all might choose to live the next ten years:

“May your dreams be bigger than your fears and your actions louder than your words.”

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.

Nick Defenthaler, CFP®, Featured in PBS Documentary

Contributed by: Nick Defenthaler, CFP® Nick Defenthaler

Last July, I had the pleasure of participating in a documentary focused on retirement planning, titled “When I’m 65,” produced by Detroit PBS. After months of shooting and editing, the final product was finally aired in mid-April – click here to check it out! PBS decided they wanted to shoot several scenes at The Center’s office because of our unique look and the fun and vibrant energy our atmosphere portrays; something we welcomed with open arms (if you haven’t had a chance to see our amazing office, click here to take a virtual tour). The film crew showed up early that morning and I must admit, it was a tad intimidating! As financial planners, we’re used to meeting with clients, building relationships, and helping you make smart decisions with your money. Needless to say, filming for several hours with bright lights and a very expensive camera in your face was a new experience that forced me to step outside my comfort zone. The crew, however, made life much easier and was absolutely fantastic – they were extremely patient and we worked as a team to produce some pretty cool content. They even filmed some shots of fellow employees acting as “extras” in different scenes that also appear in the documentary. 

The opportunity to participate in this documentary arose when PBS approached the Financial Planning Association (FPA) of Michigan to see if there were any members who would be interested in helping out with filming. (I have been a board member with the FPA of Michigan since late 2014 and currently lead the local chapter’s “NexGen” committee—a specific group within FPA of Michigan dedicated to financial planners under the age of 37 who are committed to progressing in their careers and moving financial planning in the right direction.) Being that I fall into the Millennial generation category, it was fitting for me to take the lead on discussing the issues fellow Gen Y’ers are facing and outline some simple things people in this age group should be considering in order to lay a solid financial foundation for the future. 

Here are a few simple items I suggested:

  • Invest in yourself – Human Capital is your largest asset!

  • Start saving early – put away at least 5% of your salary in a retirement account at your first job out of college (typically enough to get you the full company match if one is offered).

  • Increase this savings rate 1% each and every year until you reach at least 20% - I call this my "One Per Year" Savings Strategy.

  • Keep investing simple! Consider investing in investments you can understand.

  • Purchase Life Insurance while you’re young and healthy – consider term insurance as a cost effective option.

Overall, the experience with PBS was something I truly enjoyed and will never forget. It was amazing for me to see firsthand how much filming and time goes into producing such a short amount of actual footage. Needless to say, I have a different level of respect for those who make a living in front of a camera! It was an honor to participate and to have our office so visible in the documentary and online videos that were produced, big thanks once again to PBS and for the opportunity to be a part of such a great message!

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.

Raymond James is not affiliated with and does not endorse the opinions or services of Detroit PBS, WI65.org, or the FPA of Michigan. 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 Nick Defenthaler, CFP®, and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. 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. Investments mentioned may not be suitable for all investors. Investing involves risk and investors may incur a profit or a loss.

Takeaways from Nashville

Contributed by: Jennie Bauder Jennie Bauder

Music City, USA (aka Nashville, TN) hosted the Raymond James National Conference during the last week of April. We have made it a point the last few year to get as many Center team members to this conference as possible, and this year was no exception -- all but one Center team member made the trip for at least a portion of the event to take part in the unique learning, networking and team building opportunities. We find it to be a great use of resources for everyone to brush up on new technology, get new ideas and sharpen our skills to continue to do the best job we can to serve our clients.

There were so many great sessions and takeaways from our time at the RJ National Conference that it would take pages to write them all down. 

Here is a summary of our top takeaways from this year’s conference:

  • We were proud to be represented by Melissa Joy, CFP®, who served on a panel of top advisors speaking on how to maintain clients during market ups and downs. The panel turned into a high level discussion for best practices and was a great experience to see one of our own planners leading the discussion.
  • We learned about new technology called Client Onboarding – a process that will help to simplify processes, streamline documentation, and improve the experience we provide our clients. We are very excited to implement this technology to better serve all of you!
  • Many of our team attended sessions on leadership and teambuilding. Such sessions were focused on helping us work more efficiently, get more out of our work days, etc., all in an effort to serve our internal and external clients (and ourselves) better.
  • We heard from Sally Hogshead, author of Fascinate, who spoke on the power of fascination. Sally emphasized focused on finding your fascination factor and that being different is better than being better. Being back in the office, we’ve all taken part in fascination quizzes and workshops and have begun to implement our personal  advantages that emphasize what makes us unique.

The conference was a lot of long days and a lot of intense learning, but we did take some time for some fun and bonding as well. Each night, for those who didn’t have other obligations, it was an opportunity to gather together, to meet new people or hang out with one another, and see some of the sites around the Nashville area. 

Overall, the conference was filled with opportunities to expand our connections and networks, to learn not only about technology to better serve our clients but also about ourselves, and most importantly, an opportunity to connect with our fellow Center employees and enjoy each other’s company outside of the office. We’re grateful to be able to participate in the Raymond James National Conference each year and, I speak for the staff as a whole when I say, we’re refueled and ready to continue to serve our clients in the best manner possible.

Jennie Bauder is the Client Service Manager at Center for Financial Planning, Inc.

Raymond James is not affiliated with and does not endorse the opinions or services of Sally Hogshead.

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Center Stories: Sandy Adams CFP®

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Contributed by: Sandra Adams, CFP® Sandy Adams

Here at Center for Financial Planning, we like to make personal connections…with each other, with our clients, and with all of the individuals that we come into contact with.  In our work as financial planners, we need to get to know our clients on an individual basis – to get to know their personal situations and goals – in order to design a personal financial plan for them.  I know a lot about my clients on a personal level, but you might not know quite as much about me. Rather than just writing a bio and having you attempt to get to know me in words on paper, I am hoping my bio video will help you connect with me on a more personal level – help you get to know more about me, my work as a planner, and how I work with clients.  Check out my video here:   

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.

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