Our New Financial Planner: Bob Ingram

Contributed by: Nick Defenthaler, CFP®

The Center recently welcomed a new team member: Bob Ingram.  With nearly 15 years of experience in the profession, Bob is thrilled to join a team where he can collaborate with other professionals to further enhance his role as a financial planner. 

Prior to joining The Center, Bob helped clients achieve their financial goals at a large, national investment and financial planning firm. 

In addition to meeting with clients, Bob will be an active member within The Center’s Financial Planning Department.  If Bob looks familiar, it might be because you’ve seen him speak on various personal finance and investment related topics as the “Money Man” for Detroit’s WXYZ Channel 7. 

Bob is not only excited to join our team, but happy to be on yours as well.  Next time you’re in the office, stop by and say hi to our growing team!

Nick Defenthaler, CFP® is a CERTIFIED FINANCIAL PLANNER™ at Center for Financial Planning, Inc.® Nick works closely with Center clients and is also the Director of The Center’s Financial Planning Department. He is also a frequent contributor to the firm’s blogs and educational webinars.

Three New Faces on the Client Service Team

Contributed by: Lauren Adams, CFA®, MBA

It’s been one year since I last introduced new members of the client service team, and exciting things continue to happen within this department at The Center. We’ve added another three members to the team in the last few months. It’s my privilege to introduce them to you here, and I hope you’ll join me in giving them a very warm welcome to The Center Family!

Abigail Fischer joined us after recently graduating with a degree in Economics from Whitworth University in Spokane, Washington. She caught the financial planning bug from a young age and was heavily involved with financial education projects on campus. Most notably, she co-founded a counseling and financial workshop program—that was available to 2,000 students—with the goal of helping her peers build a foundation for a lifetime of financial well-being. She recently moved to Michigan to be closer to family, and we were lucky enough to snag her for a client service position this July. In addition to client service work, Abigail also helps manage The Center’s social media presence, and she loves to hear from clients and friends of The Center regarding blog topic ideas (or even just a Facebook Like or Share!).

Andrew O’Laughlin also came onboard at the end of July and joined our team after several years of experience at another advisory firm—experience he’s already putting to excellent use in his first few months as a client service team member. In addition, he earned his undergraduate degree from the University of Vermont and has completed a Masters of Business Administration at Wayne State University. If that wasn’t impressive enough, he has also obtained licenses in insurance and securities, and plans to continue to pursue more in the future (all with two little ones at home, by the way). He’s a great example of The Center’s “Continuous Learning and Personal Growth” Core Value, among others.

Joining us at the end of September, Sarah McDonell is our most recent addition to The Center’s client service team. Sarah graduated from University of Michigan with a degree in English Literature. Sarah also joined us from another financial advisory team and was attracted by The Center’s commitment to excellent client service, continual education, and strong work ethic. Speaking of which, she hopes to begin studying for the Series 7 license in the near future. Sarah also enjoys marketing and social media, as well as striving to WOW clients on a daily basis—a mindset we, of course, love.

Please join me in welcoming Abigail, Andrew, and Sarah to The Center Family! We’re so thrilled to have them onboard, and they can’t wait to meet all of our clients and friends soon.

Lauren Adams, CFA®, MBA is Director of Client Services at Center for Financial Planning, Inc.®

Raymond James Women’s Symposium Recap

Contributed by: Jeanette LoPiccolo, CRPC®

It is no surprise that women represent more than 50% of American population.  What may surprise you is the number of female financial advisors in the US:  less than 16%.  The goal of the 23rd Annual Raymond James Women’s Symposium was to connect female financial advisors with each other, to share successes, learn from each other, and inspire women who are considering a career as a financial planner.   From our office: Melissa Joy, CFP®, Laurie Renchik, CFP®, Kali Hassinger, CFP® and Jeanette LoPiccolo, CRPC® attended the 3 day conference in Tampa, FL.  

The Symposium presented a number of great speakers who shared their stories and discussed how the critical decisions in their lives paved the way to their later successes.  The Center’s own Melissa Joy, CFP®, lead an inspiring conversation with Dr. Lissa Young, Associate Professor, West Point on the subject of “Being your Authentic Self”.  Dr. Young reminded the audience to embrace and encourage each other to be their genuine selves.

Jeanette LoPiccolo, CRPC® is a Client Service Manager at Center for Financial Planning, Inc.®

---

Dr. Lissa Young is not affiliated with Raymond James.

Nick Defenthaler, CFP® NAMED TO INAUGURAL FORBES LIST OF AMERICA’S TOP NEXT-GENERATION WEALTH ADVISORS

Contributed by: Center for Financial Planning, Inc.®

Southfield, MI – Nick Defenthaler, CFP®, Financial Planner at Center for Financial Planning, Inc.®, was recently named to the inaugural Forbes list of “America’s Top Next-Generation Wealth Advisors.” The list, which recognizes advisors from national, regional and independent firms, was released online July 25, 2017.  

"It’s an honor and humbling to be recognized as one of the top next-generation financial planners in the country," Defenthaler said. "I’m grateful for the amazing team I’m surrounded by each and every day that has helped me to continually progress in my career."

The Forbes ranking of “America’s Top Next-Generation Wealth Advisors,” developed by Shook Research, is based on an algorithm of qualitative and quantitative data, rating thousands of advisors with a minimum of four years of experience and weighing factors like telephone and in-person interviews, client retention, industry experience, credentials, review of compliance records, firm nominations and quantitative criteria, such as: assets under management and revenue generated for their firms. Investment performance is not a criterion due to varying client objectives and lack of audited data. Neither Forbes nor Shook receives a fee in exchange for rankings.*

Defenthaler, who specializes in working with nearly and newly retired individuals and families, is also director of financial planning at The Center. He also sits on the board of directors at Michigan Financial Planning Association where he is the leader of the chapters Next Generation focus group.

Center for Financial Planning, Inc. is a wealth management and financial planning registered investment advisor located in Southfield, Michigan. Founded in 1985, the firm has seven financial planners and 24 total team members who work with more than 800 clients, the firm manages more than $1 billion in assets under management.

Securities are offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Center for Financial Planning, Inc. is not a registered broker/dealer and is independent of Raymond James Financial Services.

* Past performance is not indicative of future results. Individual experiences may vary. Shook – Data provided by SHOOKTM Research, LLC. Data as of 3/31/17. SHOOK considered advisors born in 1980 or later with a minimum 4 years relevant experience. 2,356 Millennial advisors were considered based on high thresholds from which 500 were chosen. Advisors have: built their own practices and lead their teams; joined teams and are viewed as future leadership; or a combination of both. Ranking algorithm is based on qualitative measures: telephone and in-person interviews, client retention, industry experience, credentials, review on compliance records, firm nominations; and quantitative criteria, such as: assets under management and revenue generated for their firms. Investment performance is not a criteria because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC, which does not receive compensation from the advisors or their firms in exchange for placement on a ranking. For more information see www.SHOOKresearch.com.

4 steps to our Due Diligence Process

Contributed by: Angela Palacios, CFP®, AIF®

My friend’s wife is constantly putting him on a diet. He often appeases her by ordering taco salads instead of a traditional entree.  She assumes he’s eating healthy, but little does she know: some taco salads can pack as many as 1,700 calories and over 100 grams of fat! His wife might need to do her homework.

As important as it is to the success of dieting to understand what you are eating, it is equally important to understand what you are buying when investing.  Once you have identified your appropriate mix of asset classes for your risk tolerance and time horizon (your strategic allocation), it is time to start doing your homework to identify the appropriate securities to fill each asset bucket. 

Here is a summary of the steps we follow at The Center:

• Qualitative Review: We generate ideas through reading, conference attendance, peer networking and searches in Morningstar Direct.  The following criteria serve as a starting point.

  • At least $50 Million of Assets Under Management (AUM)

  • Manager tenure of 10 years or more

  • Bottom half of expense ratio in category

  • Manager invests in their strategy ($1 Million and up preferred)

• Quantitative Review: We review the performance and risk characteristics of investment options within the category.  Criteria may include but are not limited to:

  • Review of rolling returns to identify performance standouts over different time periods – 1, 3, 5, and 10 years.

  • Review of performance during difficult time periods (bear markets or periods of performance difficulty for the asset category).

  • Review of rolling statistics including standard deviation, alpha, beta, Sharpe and information ratio relative to best-fit benchmarks.

  • Review of upside-downside capture.

  • Review asset flows by category and individual security.

• Due Diligence Questionnaire & Manager Interview:  Center for Financial Planning’s Due Diligence Questionnaire is submitted to the short list candidates for completion.  Manager interviews for active strategies are conducted via phone conference or in-person interview. 

• Mock-up in portfolios: Position is added into a mockup of the portfolio to identify if intended outcome is achieved and what degree of exposure is required to help attain the desired outcome (percent allocated within the portfolio).

You can also view a simplified graphic on this process:

You can do your investment “waistline” a favor by doing your homework. Don’t be fooled by taco salads, make sure you are getting what you want when it comes to investing by having a defined buying process, or talking to your financial planner about establishing one that is appropriate for you!

Angela Palacios, CFP®, AIF® is the Director of Investments at Center for Financial Planning, Inc.® Angela specializes in Investment and Macro economic research. She is a frequent contributor The Center blog.

---

Any opinions are those of Angela Palacios and not necessarily those of Raymond James.

2017 Congenital Heart Walk & Why I’m so Involved

Contributed by: Emily Lucido

Photo Source: http://www.congenitalheartwalk.org/

My name is Emily and I work as a client service associate here at The Center. I’m honored and proud to announce that The Center will be one of many sponsoring the Congenital Heart Walk in September of this year. This is something that means a lot to me and I feel so happy to work for a place that is so supportive.

Congenital Heart Disease, more commonly known as CHD, is the most common birth defect in the U.S. with nearly 1 in 100 babies born with CHDs each year. I was one of those babies many years back, which is why I am here promoting the walk today. I was born with a heart condition that affects my right ventricle. The name of my condition is pulmonary atresia – but I’ll spare you from any more medical terminology. I had open heart surgery when I was born and 2 more surgeries after that, all before the age of 3. I now live a very healthy life and am becoming more involved volunteering with heart related programs.

The Center jumped on the idea to be involved in the heart walk and exceeded my expectations when they offered to sponsor and support me (and everyone else out there!) who has Congenital Heart Disease as well. CHD research and programs are severely underfunded. The Congenital Heart Walk aims to correct this problem.

The Congenital Heart Walk (CHW) is the only national event series dedicated to fighting congenital heart disease. Since 2010, CHW has raised more than $8 million. CHW is a partnership between the two leading national organizations dedicated to fighting CHD – The Children’s Heart Foundation (CHF) and the Adult Congenital Heart Association (ACHA).

The information for the event is listed below:

• Date: Saturday, September 23, 2017

• Location: Boulan Park – Troy, MI

• Event Schedule: Festivities begin at 9:00 AM

• Expected attendance: 1,000 + Participants

• Visit: www.congenitalheartwalk.org for more information!

I will be speaking at the Congenital Heart Walk this year, which is a huge honor for me. For those of you who would like to come support and walk with us at The Center, join by registering with the link below. If you have any trouble accessing the website or registering, please feel free to give me (Emily) a call.

To register for the walk with The Center Team follow this link:

http://events.congenitalheartwalk.org/goto/TheCenterTeam

I truly appreciate you taking the time to read about my story and the Congenital Heart Walk. Thank you all for your support.  We look forward to walking with you in the fall!

Emily Lucido is a Client Service Associate at Center for Financial Planning, Inc.®

---

Links are being provided for informational 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 Center's Day of Creative Giving

Contributed by: Laurie Renchik, CFP®, MBA

There are many ways to give time, talent and resources through volunteering.  Recently, a group of Center clients, friends, and team members came together with energy and purpose to lend a hand for an afternoon of Creative giving.  The goal was to make 125 care packages for children who are experiencing a stay at C.S. Mott Children’s Hospital in Ann Arbor.   We reached our goal and hope that the goody bags will bring smiles to the faces of children receiving care at C.S. Mott.

Handmade cards decorated the outside of the packages. Volunteers filled the bags with snack items, huggable stuffed animals, coloring books, and puzzles. The smiles were abundant, and the sense of purpose created a positive vibe for all.  

The Center Charitable Committee, Creative Committee, and team members all pitched in to help with the planning and set up.  Clients and friends of the Center came together in support and created a multitude of brightly colored Care Packages filled with tangible items and a sprinkle of love and caring. 

In the words of Oprah Winfrey; “I don’t think you ever stop giving.  I really don’t.  I think it’s an ongoing process.  And it’s not just about being able to write a check.  It's being able to touch somebody’s life.”

Thanks to all that contributed to the success of our “Creative Giving” day!

Laurie Renchik is a partner and Certified Financial Planner™ at the Center for Financial Planning, Inc.®

---

Learning the Ropes: NextGen Gathering

Contributed by: Josh Bitel

In late June, I had the luxury of attending the FPA NexGen Gathering, held in Naperville, Illinois. This is a “conference” geared towards the ‘next generation’ of advisors in the financial planning profession, specifically young professionals under the age of 36. While most conferences are centered on a specific agenda, in which a presenter stands in front of a large group and speaks to participants about various topics of interest related to the profession, this conference is much more interactive with an open agenda format. With an open agenda, the participants drive the content and become the presenters and participants of the sessions. On the first day of the conference, any attendees that have burning topics they’d like to learn more about, or discuss with the group, they bring that idea to the table. If the topic resonates well with the group, that topic becomes a “breakout session” when those who are interested can discuss the topic and lead the conversation in any direction they desire. I learned valuable information from other participants on topics ranging from financial planning, to business development, career development, technology and more.

The FPA NexGen Gathering was not all about meetings.  Here are some additional highlights from my weekend:

• Networking with young financial planning professionals from all over the nations, serving in various roles in many different types of firms.

• Having individual and small group conversations with others outside of the formal sessions related to the financial planning profession and how different firms run their businesses and serve their clients.

• Participating in fun activities with others, meeting new people and making new friends.

One of our core values at The Center is to develop talent that anchors in intellectual curiosity. Continued learning is an important way to showcase this value. Attending the NexGen Gathering was a great way for me to expand my knowledge base and to crowd source new possibilities for our clients here at The Center. At the end of the day, attending these conferences are important ways for our staff to grow in our jobs in order to find new ways to best serve our clients. I’m grateful I was able to attend this year’s conference and I look forward to future opportunities to expand my knowledge!

Josh Bitel is a Client Service Associate at Center for Financial Planning, Inc.®

---

Any opinions are those of Joshua Bitel and not necessarily those of Raymond James. Raymond James is not affiliated with the FPA NexGen.

Angela Palacios Earns Accredited Investment Fiduciary Designation from the Center for Fiduciary Studies

Contributed by: Timothy Wyman, CFP®, JD

Professionalism is a core value for us at The Center. For our clients’ benefit, our team continues to improve their skills, knowledge, and certifications. In that spirit, we are proud to share that Angela Palacios, CFP® and Director of Investments, has recently been awarded the Accredited Investment Fiduciary® (AIF®) designation from the Center for Fiduciary Studies™, the standards-setting body for fi360. The AIF designation signifies specialized knowledge of fiduciary responsibility and the ability to implement policies and procedures that meet a defined standard of care. The designation is the culmination of a rigorous training program, which includes a comprehensive final examination, and an agreement to abide by the Code of Ethics and Conduct Standards. On an ongoing basis, completion of continuing education and adherence to the Code of Ethics and Conduct Standards are required to maintain the AIF designation.

Fiduciary standards and placing client interests first have been in the mainstream media lately as a result of recent Department of Labor regulations; however, these are not new concepts to us and how we serve clients. At The Center, we strive to truly serve our client’s best interests in planning and investment advice and have always held ourselves to a higher fiduciary standard of care. We understand that your trust in us is grounded in this commitment! Certifications, like the AIF designation, provide third-party confirmation that we are doing just that. Please join us in congratulating Angela on earning this designation!

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.

---

About fi360: Based near Pittsburgh, Pa., is the first full-time training and research facility for fiduciaries, and conducts training programs throughout the United States and abroad. The Center for Fiduciary Studies confers the AIF designation as well as the Accredited Investment Fiduciary Analyst™ (AIFA®) and Professional Plan Consultant™ (PPC™) designations.

The Center Adds More Team Members!

Contributed by: Clare Lilek

Jim Brown and Stephen Robinson

The Center recently welcomed two new team members: Stephen Robinson and Jim Brown. Stephen and Jim come from diverse backgrounds and are taking on very different roles at The Center, but are both excited to join our collaborative and dedicated environment in the world of finance!

Stephen joins us from his previous career as a pediatric nurse at the University of Michigan. He discovered his love for investments and financial planning after trying to navigate his own retirement account. After a lot of self-study, he decided to pursue a Masters in Finance while also working full time at the hospital. We’re thrilled to have him join us and apply his passion for financial markets and the planning field to his new position with us as Client Service Associate.

Jim joins us as our first ever in house IT Manager. Prior to joining The Center, he was a technological consultant working with institutions to troubleshoot problems and implement solutions dealing with various software and hardware systems. He was brought on to help mitigate and manage the fast-growing technology we use to best serve our clients. Jim sought to join the staff because of our diverse technology needs and the culture of our office. As our team continues to expand, we’re excited to have Jim be our go-to-man for technological assistance and expansion.

Next time you’re in the office, stop by and say hi to our growing team! Stephen and Jim are not only excited to join our team, but they’re happy to be on yours as well. Feel free to reach out to them if you have questions. 

Clare Lilek is a Client Service Associate at Center for Financial Planning, Inc.®