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Newsletters>
April Newsletter
April 1, 2008
IA BEST PRACTICES SURVEY RESULTS
Joseph Borg, Director of the Alabama Securities Commission,
will be discussing the Best Practices Survey and Report
conducted by the National Association of Securities
Administrators last year.
Mr. Borg has been Director of the ASC since 1994. He is
past president of the North American Securities
Administrators Association (NASAA) and serves as a member
of its Board of Directors.
In 2007, Borg testified before the U.S. House of
Representatives Committee on Oversight about risks posed to
everyday investors from Initial Public Offerings of private
equity and hedge fund firms and the U.S. Senate Special
Committee on Aging about illegal investment sales practices
that victimize senior citizens.
Borg is currently a delegate to an Intergovernmental Expert
Group for the United Nations Commission on International
Trade and Law (UNCITRAL).
PRESIDENT’S MESSAGE
CHARLES J. (PETE) MCCARN, CFP®
OK…let’s see where we are.
We’re locked in a seemingly unending political struggle
with headlines, sound bites, and incessant commentary
flooding over us.
The Bear Stearns crisis is all over the news like white on
rice. The term “subprime debacle” has become an idiom.
Other challenges are lined up like 737’s at LaGuardia. I
saw a ten dollar chicken at the grocery store this week.
Gasoline is outta sight. The markets are difficult and may
be this way for a while! So, what should the rational,
well trained, intelligent, planner do?
Here are some choices:
1) Trade in your Frequent Flyer miles for a two week’s
cruise in the Caribbean.
2) Upgrade your computer system so you can claim you
couldn’t get email.
3) Call the clients that you are most concerned about and
spend some time with them.
The professional planner has little choice. It’s not easy
to do what we do. If it was, everybody would be doing it.
So ask yourself: “What are my clients feeling?” It
probably isn’t overconfidence. They read the papers, too.
Your presence in their lives makes a difference. Your
thoughtful recommendations are at the heart of what you do.
Make those recommendations! That’s why they hire you.
Stay involved…stay committed!
FROM THE PR DESK
ERIC MCCLAIN, CFP®
Our association receives several media request per week
from FPA national and occasionally from local media. If you
would like to receive these requests, please send an e-mail
to Eric McClain (eric@fopp.net) with a subject of: opt-in
for media requests.
MORTGAGEBANC, LLC
BEN CHENAULT, CMPS
If your Client has enough money to pay off their mortgage,
should they?
This is always an interesting question to ask. The correct
answer: It depends. Taxation, reserves, age of client, net
worth, cash flow, education and/or retirement strategy,
etc. can determine what is prudent and suitable for each
client.
As we have seen over that past few years, many people leave
out one of their largest assets and tax partners when
implementing their financial strategies. Many focus their
efforts only on the asset side of the balance sheet. Should
they even pay attention to the liability side or simply try
to have no debt (including the mortgage)? It seems every
client and advisor has a different opinion.
Regardless of where you stand on the issue, there are now
many tools available to help an advisor and their client
make that decision. Our goal is to be an extension of the
advisor and the services they have to offer. Please
contact me if you would like additional information on this
topic or the services available. Or, if you are interested
in attending any Mortgage Planning Presentations approved
by the CFP® Board for CE Credits please let me know.
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