Live Your Plan: 35 Years of Printmaking

Contributed by: Timothy Wyman, CFP®, JD

There’s nothing more satisfying than seeing a client turn a dream into reality. To me, that’s what financial planning is all about. My clients Norm and Susan Stewart are a shining example. They turned creative talents into a successful 35-year printmaking business in Bloomfield Hills. At Stewart & Stewart, Norm is the Master printer and partner Susan is the graphic designer. If you have ever driven down Wing Lake Road between Maple & Quarton, you may have seen their workshop. Their collection resides not only in Michigan, but all across America and Europe.  And now they’ve been featured in the Journal of the Print World. I’m proud to serve folks like the Stewarts each day. On behalf of everyone at The Center – Congrats!

For another inspirational story of clients living their plans, check out this blog about two more of my clients who authored “A Poetic Life”. Their insight on living each day to the fullest could have you thinking about intentional living.

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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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.

Raymond James is not affiliated with Stewart & Stewart.

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.

Center Team Members Participate in Money Smart Week

Contributed by: Center for Financial Planning, Inc.

April is Financial Literacy Month and when it comes to financial literacy, knowing how to manage your money is a big part. That’s why the “Money Smart Week” public awareness campaign was created by the Federal Reserve Bank of Chicago in 2002. This year it falls on April 18 – 25th. The goal is to help consumers better manage their personal finances. This is achieved through the collaboration and coordinated effort of hundreds of organizations across the country, including local organizations like our Financial Planning Association of Michigan. Other involved include local libraries and corporations that are dedicated to promoting financial literacy (like the Center for Financial Planning!).

Programming is offered to all demographics and income levels and covers all facets of personal finance. Melissa Joy, CFP® and Sandy Adams, CFP® are again volunteering at their local libraries where they will be offering presentations to the public on financial planning topics. To find an event to attend in your neighborhood, click here: Money Smart Week®.

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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 Center Supports Gleaners’ Vine and Dine Fundraiser

2014 marks the third year Center for Financial Planning has helped sponsor the Birmingham Bloomfield Chamber’s Vine and Dine event to benefit Gleaners Community Food Bank.  Vine and Dine allows guests to experience music, wine, and food from some of the best artists, caterers, and restaurants in metropolitan Detroit.This year’s event was held at the Cranbrook Institute of Science where guests were treated to a special “behind the scenes” tour of the museum as well as see National Geographic’s touring exhibition, Women of Vision.

As a part of The Center’s 2020 Vision, we are deeply committed to community service and aim for our combined sweat equity and financial contributions to create $100,000 of community support each year.  The Vine and Dine event is one on the ways we are building up to our 2020 Vision goal.  This year, The Center team has also volunteered with Gleaners to donate and assemble food packages because we are moved by their commitment to fight against hunger in southeastern Michigan.  Gleaners has successfully collaborated with the Feeding America network, member agencies, and program partners to deliver millions of pounds of food to the people who need it most.  

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 web sites or their respective sponsors. Raymond James is not responsible for the content of any web site or the collection or use of information regarding any web site’s users and/or members.

Giving Back: Partnering with the South Oakland Shelter

 For many, getting involved in the community and giving back is as much a gift to yourself as it is a gift to others. Over the last 15 years, my partner (is this the best word?) Kim and I really enjoy giving back to those less fortunate by helping the South Oakland Shelter.  SOS is located in Lathrup Village, MI and is dedicated to helping individuals and families who have fallen on hard times. Many are temporarily homeless or out of work and need a safe place to fall and to lift themselves back up.  SOS is a revolving shelter with over 50 local churches and synagogues helping to provide shelter at night, rides to work in the morning and 3 hot meals a day.

This year, for our part, we cooked meals and helped people get to work.  But we also helped with the annual conversion of our church, (Birmingham Unitarian Church), into living quarters for 30 guests for a week. At the end of the week, I received a card signed by all the guests, thanking us for an outstanding effort on their behalf. In my years working with SOS, I have never received a note with personal messages like this:

We truly felt at home”
“I am so grateful to have you on this portion of my journey”
“I love you BUC”
“Thanks for your precious time, I am truly grateful”
“You all were great”

We’re looking forward to partnering with SOS again in 2015. 

Matthew E. Chope, CFP ® is a Partner and Financial Planner at Center for Financial Planning, Inc. Matt has been quoted in various investment professional newspapers and magazines. He is active in the community and his profession and helps local corporations and nonprofits in the areas of strategic planning and money and business management decisions. In 2012 and 2013, Matt was named to the Five Star Wealth Managers list in Detroit Hour magazine.

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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.

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 web sites or their respective sponsors. Raymond James is not responsible for the content of any web site or the collection or use of information regarding any web site’s users and/or members.

Reinventing Michigan Retirement

 At a conference tailored to Michigan residents age 50 and up, Sandy Adams, CFP® and Laurie Renchik, CFP® volunteered their professional retirement planning expertise. Sandy and Laurie were part of the team of volunteers at the Reinventing MI Retirement conference hosted by the Michigan Department of Insurance and Financial Services.

The event was held at the Michigan State University Management Education Center in Troy. It was one of nine conferences put on across the state to help Michigan residents learn more about how to potentially achieve financial security in your later years.

Sandy and Laurie provided attendees with one-on-one financial check-ups.  Governor Rick Snyder made an appearance and delivered a message about living well and aging well. The Reinventing MI Retirement initiative is funded by contributions and grants from the Michigan Securities Investor Education and Training Fund.

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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 web sites or their respective sponsors. Raymond James is not responsible for the content of any web site or the collection or use of information regarding any web site’s users and/or members. C14-038753

Sandy Adams Attends Leadership Oakland – 25th Anniversary Class

 

Sandy Adams, CFP® recently began participating in the 25th class of Leadership Oakland following in the footsteps of fellow partners Laurie Renchik, CFP®, and Timothy Wyman, The program is intended to help participants (about 50 each year) learn about Oakland County, our region and our state in order to be informed contributors and leaders within our communities.

Sandy recently attended a 2 ½ day retreat with 47 other professionals – all now her newest friends. The retreat, held in Roscommon at the R.A. MacMullan Conference Center, was the perfect place to set the stage for this unique learning experience. The group spent time getting to know more about Oakland County, each other and themselves and their leadership potential. For an insider’s look, here’s Leadership Oakland’s video of the retreat.

In future sessions, Sandy and the other participants will engage in experiential learning and hear from local leaders on topics including Economy & Government, Human Services & Non-Profits, Health & Environment, Diversity & Inclusion, the Justice System, Education, Arts & Culture, Shaping the Future, and last but not least, a class project that the 25th class hopes will have a significant and lasting impact on the community.

Leadership Oakland is not affiliated with Raymond James. 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 8th Annual Fun Run Recap

The 8^th Annual Kacy Wyman fun run/walk event took place Sunday May 4^th.  Once again, over 350 walkers/runners participated in the event and raised much needed dollars to find a cure for Kacy’s rare disease called Cystinosis. Thanks to about 37 pills a day Kacy leads an active life and is a true inspiration for our family and community.

About Cystinosis

Cystinosis is a rare disease that is typically diagnosed prior to age 2. Cystinosis is a genetic metabolic disease that causes an amino acid, cystine, to accumulate in various organs of the body. Cystine crystals accumulate in the kidneys, eyes, liver, muscles, pancreas, brain, and white blood cells. Without specific treatment, children with cystinosis develop end stage kidney failure at approximately age nine. Cystinosis also causes complications in other organs of the body. The complications include muscle wasting, difficulty swallowing, diabetes, and hypothyroidism. It is estimated that at least 2,000 individuals worldwide have cystinosis, though exact numbers are difficult to obtain because the disease is often undiagnosed and/ or misdiagnosed.

For more information visit www.cystinosis.org

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Money Smart Week Participation

 

April 5^th – 12^th marked the Federal Reserve Bank of Chicago’s Money Smart Week. During Money Smart week, a variety of experts in the area of financial planning presented during six days of focused presentations to community groups and educational organizations in an effort to help consumers learn to better manage their personal finances.

This year, The Center’s Melissa Joy and Sandy Adams participated in Money Smart Week as members of the FPA of Michigan. Melissa and Sandy presented Budgeting 101 at community libraries. This is just one example of how we at The Center fulfill our vision of Partnering with a Passion for the Community and our commitment to financial education and literacy.

Chamber Economic Forecast Breakfast Shines Light on Recovery

 The economy’s bright spots and hurdles were spotlighted at the annual Birmingham Bloomfield Chamber of Commerce Economic Forecast breakfast. The Center proudly sponsored the February 13^th event at the Townsend Hotel in Birmingham. The featured speakers were Paul Traub, a business economist from the Federal Reserve Bank of Chicago-Detroit, and Sam Valenti, CEO of Valenti Capital and World Capital Partners investment firms.  Both discussed the bright areas in our economy, while also touching on some of the challenges investors can expect to face in 2014 and beyond. 

Economic Highlights:

Unemployment rate declining:  The national unemployment rate is now at about 6.5%.  Some argue that the reduction is due to people no longer looking for work.  However, even with decreased participation rates, companies are doing more hiring and attracting quality talent, helping a still recovering economy to thrive.

Housing market turning around: As many of us have seen first hand, homes are selling faster and for more than a few years ago.  Recently, areas in the Detroit metro area have even seen 25% - 40% increases in home values.  Both speakers predicted mortgage rates to stay at or below 5% for 2014, which should further assist the housing turnaround and entice people to make moves they may not have considered just a few short years ago. 

Obstacles for the Economy:

Income increases lagging behind historical averages:  Over the past few years, income has only risen approximately 1.5% per year.  Historically, for an economy to prosper, that number needs to be closer to 3%. Companies are still cautious and have been more focused on improving balance sheets and re-investing in business than increasing employee wages.  As the economy continues to improve, wage increases are expected to follow. 

Don’t forget about the debt:  As the market improved tremendously in 2013, the talk of our country’s debt issues became somewhat swept under the rug.  Valenti called the U.S. debt issues an area of concern, but not cause for panic.  Many of the “hyper-inflation” headlines have diminished as inflation has actually been slower than the fed would like to see in order to stimulate growth.  He indicated that there could be some potential market volatility within the next couple of years surrounding this issue and suggested that clients consider maintaining some liquidity and view a potential market pull back as a buying opportunity.

Center team members Tim Wyman, Laurie Renchik, Angela Palacios, Matt Trujillo and Nick Defenthaler were all on hand. Calling the breakfast interesting, Nick said,

It’s great to hear what other experts are saying because it helps us work on being the best planning team we can be to advise our clients.  Although no one has a crystal ball, it’s important to look at economic trends and determine how they could affect clients in the short and long term.” 

Nick Defenthaler, CFP® is a Support Associate at Center for Financial Planning, Inc. Nick currently assists Center planners and clients, and is a contributor to Money Centered and Center Connections.

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The information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Raymond James is not affiliated with and does not endorse the opinions or services of Paul Traub, Sam Valenti, or the companies they represent.

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