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I would start with the VA. I am a veteran and recently helped a friend with this. Here ise a sire:
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It's hard to believe that we have already passed the first three months of this year.  Time seems to be racing by but thanks to the efforts of so many creative and committed members of the FPA of MA Chapter, we have lots to celebrate.

Recognizing the challenges faced by younger planners to attend daytime meetings, Eric Roberge of our Membership Committee to an idea and fashioned it into an event.  We held our fist NextGen cocktail event in March.  It was a roaring success.  Conversations, connections and networking abounded as the group shared experiences and dreams.  Buidling on this success, Eric is planning two more events for the summer and a larger and even more creative event for the later in the year.  But I'll let him share that with you.

We also had a terrific event last week.  In partnership wtih Boston University, we held a Career Night at BU.  Over 60 individuals interested in pursuing a career in financial planning attended.  We had twelve sponsor signed up, companies who were there to talk about their need to hire.  The highlight of the night was a panel discussion with three planners sharing how they entered the business, how they run their businesses and where they see the profession going. The audience peppered them with questions.  Capping off the discussion, Bob Glovsky addressed the group.  Bob has recently been appointed by the President to the Advisory Council on Financial Capability for Young Americans.  This was all followed by two hours of networking between the attendees and the companies who cam.  Congratulations to Beth Milkovits and her team for a terrific job of organizing and running this exciting and useful event.
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Hello Fellow FPA MA Members -

There is only one week left - time is flying! Get your submission in for the FPA MA Financial Planner of the Year. There are so many worthy candidates. The deadline is April 15th.

The link for an easy submission form:

Don't miss this opportunity!

Thank you -

Linda Homsey

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On Thursday, February 27th, the FPA of MA in conjunction with a large group of other interested organizations, participated in a large event at the State House.   Thanks a million to Erica Feldblum for all of her organization and communication.  It made the difference.  Thanks also to Barrett Costello, John McAvoy, Dick Powers, Marybeth Breed, Colleen Turner, Steve Stanganelli, George Noyes and of course Kristin Beane for participating.  The morning simply couldn't have been more successful.  Stay with me while I try to relate the structure here. The day was organized by MassSaves a non-profit dedicated to providing financial literacy to MA residents.  They are connected with the Massachusetts Financial Education Collaborative (MFEC) which is part of the Midas Collaborative.   The purpose of the day was to promote a financial literacy bill to those in power at the state house.  There are a number of organizations and companies that support these groups.  We are a founding member of the MFEC and John Napolitano represents the FPA on the MFEC Steering Committee.  (Note, we are currently interviewing members to replace John, who has served for several years as our representative on the MFEC.  If you have any interest, please contact me)
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It's hard to believe that we are already at the middle of February.  This is shaping up to be a very exciting year for the FPA here in MA.  Thanks to lots of hard work by past Boards and Presidents, our chapter stands out nationally by almost any standard of measurement.  Based on size, involvement, activities, and contributions to the community, the MA chapter has much to be proud of.  Our volunteerism is without peer. 

We are blessed with an incredible Board of Directors, highly committed and involved, who are leading us to new activities and involvement.  Each director leads a committee of dedicated volunteers who are working to come up with new and productive projects to help us promote our profession and the association.

We are all aware of the need for the public to understand what a financial planner is and what makes them unique.  To that end, your association is working with a public relations firm to help promote our members and their accomplishments and expertise to the general public.  Check out the work that is being done on the Boston Globes' website,

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Presentation for FPA Annual Conference: 2014 Experience in Seattle
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It isn’t surprising so many homeowners, family members and trusted advisors struggle over whether a reverse mortgage should be considered.  It touches heartfelt beliefs about home ownership, legacy, and debt.  The conflict is between equity security and income security.  Which is better?  This can be a tough choice that should not be made lightly.  Even tougher is how to recommend or decide on one or the other during such uncertain economic times.

Equity Security rests on the time-honored tradition that owning one’s home debt-free is a fundamental of financial independence.  If your house is worth $500,000 then you are worth $500,000.  Your family knows what they will inherit and you are free of debt.  It’s pretty hard to argue against that.

The problem is that the theory of equity security relies on the great assumptions of real estate:  “Your home always goes up in value, you can always sell your home, and you can always get a mortgage.”  During the Great Recession we found out the more you need money, the less the bank wants to lend it.  It also turned out home values can go both up and down.  In a down real estate market, turn times are longer and prices are lower.

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We are looking for a actuary to work with a Defined Benefit plan for a  charitable organization in the NY area. We currently have an actuary but their service level is awful and response time forever! Maybe the account is too small. Any thoughts? They also have a 403B and we could combine these with one provider if that would mean better service.
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Good afternoon FPA Friends:

I am looking for a Social Security expert to speak at an event on March 8, 2014.  Kurt Czarnowski is not available that day... and I'm hoping to find someone as good and as entertaining.
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Try Brian Rowbotham or Peter Trieu at Rowbotham and Co. in San Francisco.  They specialize in international clients.

Website is

Terry Allen, CFP®
Accredited Wealth Management Advisor
Enhance Wealth Advisors
700 Ygnacio Valley Road, Suite 200, Walnut Creek, CA 94596
(925) 932-4494 direct   (925) 932-9044 fax

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As education chair, a new book came across my desk: "Investor Behavior: The Psychology of Financial Planning and Investing".  It was written by H. Kent Baker and Victor Ricciardi.  

The book has 45 contributors on emerging research in behavioral finance. The publication date for the book is February 10, 2014.

Truth be told, I have not read this yet.  Might be a future presenter for FPA of MA. We'll keep you posted.

Here's a link if you interested

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I was commissioned by AAG, a prominent firm in the reverse mortgage industry (you may have seen their commercials starring Senator Fred Thompson), to build marketing materials specifically for the financial planning community.

On the surface, the project seemed simple because all of the elements were easy to understand.  But I soon learned that in general, financial planners are extremely anti-reverse mortgage.

The basic idea of the FHA secured reverse mortgage product seemed straight forward: reverse mortgages allow seniors (62 yr+) to easily access the equity in their home with much less strict requirements than if they tried to access the funds through traditional refinances and HELOCs.  

Okay, simple enough.

Then came the myriad of reasons as to why a senior would want a reverse mortgage.  Top of the list: to increase cash flow, to make an unforeseen purchase, they want the extra money to improve the quality of their life...etc etc etc.

Okay, simple enough.

Even detailed research already existed in highly credible publications regarding how financial planners should recommend their clients use reverse mortgages:
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Look into the Allianz 360 annuity with the 360 Benefit Rider.  It offers an un-capped Barclay's US Dynamic Balanced Index, a 50% index bonus, and higher Guaranteed Lifetime Income Withdraw Rates each year you wait to take income.  Owners can take Systematic Withdrawals instead of Guaranteed Income Withdrawals and preserve annual Withdrawal Rate increases and 50% bonuses.  Income can increase based on the index performance each year.  Like all equity indexed annuities, negative index years are credited with a zero return, and as a result, do not adversely affect compounded returns.  It is outstanding.  It may make variable annuities obsolete.

Jeff Stark

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Please note the FPA of SWFL has scheduled CFP Ethics for the May 2014 program. Visit for more information.
However, several chapter members need their CE prior to May. 
If you are in this situation too, you are invited to attend a live class being held on Friday, November 1st.

Time:       5:30pm to 7:30pm
Location:  Le Chateaux Clubhouse in the Pelican Marsh Community, Naples

Space is limited so a reservation is required.
Contact Christine Cargnoni for more information or to make a reservation.


The $30 fee covers course handouts, CE processing and refreshments.

The course will be presented in a conversational style making use of cases based on actual disciplinary action and will, of course, cover all the required material. I am one of the Instuctors along with Christine Cargnoni. We are Co-Editors of Beacon Hill Financial Educators " CFP Board Ethics Course".

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2013 has been a very exciting year for our MA Chapters Community Outreach and Pro Bono work.  Our long standing successful programs with the MA National Guard and the Dana Farber Cancer Institute continue to bring high quality financial planning assistance to those in need.  Both programs have been nationally recognized and use FPA of MA members to achieve their goals.  Interested in helping?  Let us know.

We also have a new project coming to fruition in a few weeks.  In association with the MA Council of Elder Affairs, the FPA of MA has developed a program to help advisors recognize and deal with signs of cognitive issues in older clients. 

We must meet our fiduciary responsibility to clients which means that we cannot share information with others but what do you do when you suspect that your client may not be making sound decisions and may be suffering from early dementia or Alzheimer's?

Sign up for the webinar on Wednesday, November 13th from 3:00 - 5:00pm EST.  This may just be the single most important educational activity you participate in this year!  Click on the link below to see details of this important webinar and sign up now while space allows.

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The situation you describe can best be remedied in "one fell swoop".  Capital gains taxes are low, and ridiculously low when compared to the devastating damage can occur at any time from holding a concentrated position in such a headline driven company/industry.  I have seen clients cut their lifestyle in half back in 2008 by clinging to concentrated positions which became disasters.

Get some professional help dealing with the emotional aspects of the problem, but get it DONE!
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