March-11 Planner.qxp by wuyunyi


									the Financial Planning Association
                                                       PLANNER IS PUBLISHED BY:
                                                                                                           March 2011, Vol 12 Issue 3

FPA of Silicon Valley      FPA of San Joaquin Valley          FPA of the East Bay               FPA of San Francisco                   FPA of Monterey Bay                                 

                      We Can't Give You One Reason We Think
                    FPA NorCal 2011 Is Going to Sell Out This Year.
                                      So We'll Give You Five.
by Bob Goldman
2011 FPA NorCal Conference Committee

   It's happened in the past – FPA NorCal                                                                Reason #2: Neel Kashkari
has sold out, leaving many so-called plan-                                                               As a managing director of PIMCO, Mr.
ners wishing they had planned ahead. It's                                                                Kashkari gets many, many invitations to
not like we like it to happen, but the                                                                   speak to professional organizations, but
capacity at the San Francisco Palace is lim-                                                             one of the few he has found time for in
ited, while the reasons to come to FPA                                                                   his busy schedule is FPA NorCal. He
NorCal 2011 are definitely unlimited.                                                                    will be speaking on "The Economic
   But for now, let's limit ourselves to five                                                            Outlook and Challenges Facing
very good reasons you should register                                                                    Policymakers." And he should know. In
immediately at, and                                                                    addition to being a managing director,
guarantee yourself a place.                                                                              and head of new investment initiatives
                                                                                                         for PIMCO, Mr. Kashkari's experience
Reason #1: Michael Lewis                      Bob Goldman is a member of FPA                             includes being the overseer of the
That's right! The New York Times best-        San Francisco Chapter. He is the                           Troubled Asset Relief Program (TARP)
selling author of "The Big Short," and        owner of Bob Goldman Financial                             during one of the most critical financial
"Moneyball," will be a keynote speaker                                                                   crises in history.         Cont’d on pg. 3
this year at FPA NorCal. They don't get
much more famous, or relevant, or interesting than Mr.

Lewis, who, as it happens, is a very big supporter of the
financial planning profession. You won't want to miss
Michael Lewis on the past, present and future of our           East Bay Chapter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
country, our industry, and our profession.                     San Joaquin Valley Chapter . . . . . . . . . . . . . . . . . . . . . . . . 10

                                                                               Silicon Valley Chapter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
   2011 FPA NorCal Conference                                                  Monterey Bay Chapter . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
      Tuesday, May 31 & Wednesday, June 1                                      San Francisco Chapter . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
        The Palace Hotel in San Francisco
                                                                               Calendar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
              THE Financial Services NETWORK
                   is pleased to welcome:
              Jan Mohamed                                                       Dallas, TX

              Barbara Sullins                                                   Dallas, TX
              Michael Champion                                                  Napa, CA

       THE Financial Services NETWORK is a proud support-
         er of the 39th Annual FPA NorCal Conference

            For information on joining THE NETWORK please contact our
        President, Daxs Stadjuhar or our Managing Director, Gordon Dunne at
                                    (650) 571-1934

                          “A Common Bond of Excellence”

       Securities offered through LPL Financial, Member FINRA/SIPC, Investment Advice offered through Strategic
          Wealth Advisors Group, Inc., a registered investment advisor and separate entity from LPL Financial.

FPA PLANNER                                                                                   MARCH      2011,    PAGE 2.
Five Reasons Cont’d                     Reason #5: The Opportunity to            able on the site will be complete
                                        Save $100 with Early Bird                information on the keynote speak-
                                        Pricing, Which Ends March 11 at          ers, the breakout sessions, and spe-
                                        Midnight.                                cial conference rates for attendees
Reason #3: Donald R. Knauss             Now that you've heard about our          who want to spend a night or two
Yes, the Chairman of the Board and      keynoters, you certainly will not want   basking in the luxury of the famous
CEO of the Clorox Company is tak-       to miss FPA NorCal 2111. And if we       San Francisco Palace Hotel.
ing time out of his busy schedule to    haven't convinced you yet, consider
speak to the attendees at FPA           thirty-six breakout sessions, the
NorCal 2011. From his position as       opportunity to score a passel of CEU
the head of a company with $5.5 bil-    credits, plus non-stop networking, all
lion dollars in sales in fiscal 2010,   right in your own backyard.
Mr. Knauss is going to speak on the       Yes, FPA NorCal 2011 is a big deal,
subject of philanthropy and his long-   which is why you must immediately
standing commitment to values-          internalize Reasons #1 - #5, and get
based leadership. It's an important     onto to pronto
speaker on an important subject.        to get registered, and get your $100
                                        savings, and get yourself a guaran-
Reason #4: Greg Valliere                teed place at the San Francisco Palace
As the Chief Political Strategies of    Hotel on Tuesday, May 31 and
the Potomic Research Group, Mr.         Wednesday, June 1, 2011.
Valliere has for years advised               You could wait to register, of
investors about how developments        course, but then you wouldn't save
inside the Beltway affect the invest-   the $100 and, especially this year,
ments inside our portfolios. With       you may not be able to get in at any
this stresses and strains of a new      price!
political environment, this exclusive
contributor to CNBC will make a          Early Bird registration for FPA
presentation as relevant and impor-     NorCal 2011 is now available at
tant as tomorrow's headlines.  Also avail-

                               What Keeps You Awake at Night?
                                     What do you worry about?
                           What challenges are you facing in your business?
                               What issues get your blood pumping?
 We'd like to know so that we can ask our fellow FPA members to write interesting articles. We'd also like to hear
 your complaints and compliments. We would like to provide a forum for additional interaction, so now you can
 send a "letter to the editor" of The Planner at

 We believe that collaboration among our members and chapters provides numerous benefits to our members.
 The Planner newsletter is published on a monthly basis thanks to the volunteer efforts of more than one dozen
 FPA members from five FPA chapters in Northern California. Let us hear what you have to say!

FPA PLANNER                                                                                    MARCH 2011,    PAGE 3.
                                             marry, the first reason Michael              for having a child in care until the
Marriage &                                   gives is that he's old fashioned and         youngest child turns 16. And if she
Social Security                              doesn't believe in shacking up. But          does not remarry before age 60, she
by Elaine Floyd, CFP®                        of course the real reason was so             would be eligible for survivor bene-
                                             Richard could get life insurance in          fits starting at age 60. The children
                                             the form of Social Security sur-             and the mother would each receive
   In the coming months, we will fea- vivor benefits. A prior disability,                 75% of Richard's PIA, up to the
ture articles from guest speakers who coupled with a cancer diagnosis in                  maximum family benefit of nearly
will be speaking at the 2011 FPA October of 2009, disqualified                            $4,000 per month.
NorCal Conference. We are pleased Richard from ordinary life insur-                            Unfortunately, Richard's condi-
to welcome back Elaine Floyd, one of ance through a private insurer.                      tioned worsened, and although
the highest rated speakers in 2010.              So Richard and Barbara finally           Michael pleaded with the doctors to
For more information                                                    did get mar-      keep him on life support until
about Elaine's presenta-                                                ried - on April   January 6, it turned out to be tech-
tion or the conference in                                               6, 2010. Now      nologically impossible. Richard
general, please visit                                                   it's December     passed away on January 2, 2011,                                                      21,        and    four days shy of the nine months
                                                                        Richard      is   needed for his stepchildren to quali-
      At 5:00 pm on                                                     close to death.   fy for Social Security survivor bene-
December            21,     I                                           Michael calls     fits. Michael is still going to try to
received an urgent call       Elaine Floyd, CFP® is director of retire- SSA to find       secure survivor benefits for the chil-
                                                     planning for
from Michael Fox, a ment and a life York-based com- out if the chil-
                              Horsesmouth, New
                                                                                          dren by proving that Richard provid-
financial advisor who pany that provides information and dren would be                    ed over half their support, but this is
subscribes to our Savvy training to financial advisors. She is the able to get            by no means a sure thing. If only his
Social                                      Savvy
                     Security author of Boomers.Social Security survivor bene-
                              Planning for
                                                                                          clients had tied the knot when
Planning program. He                                                    fits. He knows    Michael first advised them to do
said his client was in the ICU, on a that survivor benefits are available                 so….
ventilator, and he needed to know to stepchildren, but he's pretty                            Marriages - and the terminations
how long his clients needed to be sure there's a length-of-marriage                       thereof - have a huge bearing on
married in order for the stepchil- requirement that determines the                        Social Security benefits for clients.
dren to receive Social Security sur- length of the step-relationship.                     Michael said that if he could give one
vivor benefits. This would help One person at SSA said 12                                 piece of advice to financial advisors,
determine when life support months, another said nine months.                             it is that they should not be shy
would be discontinued, if it came                  I looked it up in the Social           about delivering marital advice to
to that.                                     Security handbook and discovered             clients. Here are just some of the
   The back story is this: One year that for survivor benefits the step-                  ways marriage, divorce, and widow-
ago, in January 2010, Michael relationship must have existed for                          hood affect Social Security benefits:
advised his clients, Richard* age at least nine months. (For living                       • A widow(er) who remarries before
55 and Barbara* age 39, to get benefits it's 12 months). So if                            age 60 becomes ineligible for sur-
married. They had been living Richard can stay alive until January                        vivor benefits off the first spouse's
together for many years and 6, the nine-month anniversary of                              earnings record.
Richard was like a father to Richard and Barbara's marriage,                              • A divorced person who remarries
Barbara's three children from a Barbara's three children would be                         at any age becomes ineligible for
previous marriage. The children able to receive survivor benefits off                     spousal benefits off the ex-spouse's
range in age from 8 to 13. When Richard's record until they turn                          earnings record (survivor benefits
asked why he advised his clients to 18. Barbara would receive benefits                                           Cont’d next page

*Not their real names.

FPA PLANNER                                                                                              MARCH 2011,     PAGE 4.
Marriage &
Social Security Cont’d

may be paid if the remarriage takes
place after age 60).
• A spouse who divorces before
the 10th anniversary becomes inel-
igible for spousal or survivor bene-
fits off the ex-spouse's earnings
• Following marriage, there is a
one-year waiting period for
spousal benefits unless the spouse
is already receiving Social Security
at the time of the marriage.
• If a person is eligible for spousal
and/or survivor benefits off sever-
al former spouses' earnings record,
the highest benefit is paid.
    Marital decisions should not be
dictated by financial reasons alone,
of course, but in some cases mov-
ing up or pushing back the date of
a marriage or divorce can make a
huge difference in the amount of
Social Security benefits a client
stands to receive over his or her
lifetime. SSA workers will be pry-
ing into your clients' marital affairs
in order to determine benefits; you
might as well do a little prelimi-
nary prying of your own so you
can help them maximize those

                        2011 FPA NorCal Conference
        Tuesday, May 31 & Wednesday, June 1. The Palace Hotel in San Francisco
FPA PLANNER                                                         MARCH 2011,   PAGE 5.
                                                                                        Regional News

                                              regulation for financial planners new federal income exclusion for
Regional Government                           does not appear to be warranted at employer-paid health insurance for
Relations Column                              this time.                             nondependent adult children. For
by Robert Finke, CFP®                                                                California income tax purposes, the
FPA Monterey Bay                              For a copy of the GAO report,go to cost of insuring an adult nondepen-
                                     dent child is considered imputed
     Greetings from your Regional                                                    income, but is excluded for federal
Government Relations Representative. SEC Study Presents Options for purposes. Clients whose 18-26 year
                                              Improved Investment Adviser old children are on their employer-
The following is a list of important
                                              Oversight                              provided health insurance plan should
items on the Government Relations
                                              The Securities and Exchange check their W-2s to ensure that state
                                              Commission (SEC) study highlight- wages have been accurately calculated.
GAO Study Finds Shortcomings ed the need for increased resources
in Financial Planner Regulation, to oversee SEC-registered invest- For more information, go to
but Recommends No Additional ment advisers. The study noted 18% h t t p : / / h r. c c h . c o m / n e w s / p a y -
Oversight                                     of SEC-registered advisers were roll/020211a.asp
In a study, which was                                         examined in 2004,
called for as part of                                         but only 9% in 2010 - 2011 Tax Update
the Dodd-Frank Wall                                           an average rate of The 2011 Tax Update contains the
Street Reform and                                             examination of once latest phase-outs and limits for key tax
Consumer Protection                                           every 11 years, com- and retirement provisions affecting
Act, the Government                                           pared to every 6 years you and your clients. The 2010 Tax
Accountability Office                                         in 2004.               Update has also been revised to reflect
(GAO) found signifi-                                             The SEC staff pre- changes to the estate tax that were
cant evidence of con-                                         sented three different made at the end of last year.
sumer confusion sur-                                          options           that
rounding the regula-                                          Congress could con- For the 2 page summary, go to
tion and legal obliga- Robert Finke is co-founder of the sider to improve the
tions of financial plan- Center for Financial Studies. He has frequency of IA entRelations/Compliance
ners and also found since created the Center for Financial exams. Though "rec-
that the full extent of Affairs as a way to provide integrat- ommended"          the
the risk to consumers     ed fee-based financial planning study        noted the
                          services and financial education.
is murky because reg-                                         shortcomings of the
ulators do not currently track com- different approaches,
plaints and disciplinary actions spe-
cific to financial planners.                  For a copy of the SEC report, go to
   But, while the GAO study identi-
fied numerous consumer protection tudyfinal.pdf
and data collection issues associated
with lack of specific, direct regula- California wages and health insur-
tion of financial planners, it con- ance nonconformity (1-24-11)
cluded that an additional layer of California does not conform to the

                         2011 FPA NorCal Conference
        Tuesday, May 31 & Wednesday, June 1. The Palace Hotel in San Francisco
FPA PLANNER                                                                                        MARCH 2011,     PAGE 6.
                                                                                                             East Bay

                                           1) Personal Chef Party: This idea            charges a nominal fee of $25- $50 to
Client Acquisition                         has become very popular with cer-            attend. The checks are paid directly to
Ideas for 2011                             tain advisors that are tired of doing        the organization. This way the only
by David Borrelli MBA, CRPC®               events at upscale restaurants. The           cost to you is to deliver the workshop.
President's Column                         idea is very simple. Identify one or         Topics for the workshops could be col-
FPA East Bay                               two clients that like to host and            lege savings, retirement savings, inter-
                                           entertain at their home. Ask them            national investing, etc. The charity
                                           to host a small dinner party for their       could then help promote and market
  Now that we are firmly into 2011,        friends at their house but you will          the event to its members to gain a larg-
its time to start planning those           hire a professional Chef to come to          er attendance and raise more money for
client acquisition events to help          their house to cook the meal.                its cause.
grow your business and add new             During the evening the Chef will
clients to your practice this year. As     also teach the guest how to prepare          4) Birthday Lunches: Many advisors
I have made my early visits with the       a dish or appetizer. This will be an         are starting to realize the importance
financial advisor community in             enjoyable evening in a more infor-           of connecting with their clients on or
2011 I have noticed an increased           mal environment and can lead to              around their birthdays. One way to
amount of activity and discussion          some great introductions.                    accomplish this is to call the client
regarding this topic. Many advisors                                                     about 2-3 weeks before their birthday
have spent the past couple of years 2) Themed Luncheons: You would                      and offer to take them to lunch on
maintaining a strong commitment be surprised how small group lunch                      their birthday. Most people will cele-
to service and support during these events with a theme can be very                     brate a birthday event with family
tough financial times and have effective. I have done many lunch                        members in the evening. By having
avoided or delayed in engaging in events for 10-20 guests with a                        lunch during the day advisors can help
these activities. However,                                       theme that adds a      strengthen the relationship and occa-
many people feel the time                                        nice element of mar-   sional get the opportunity to meet the
is right for renewed focus                                       keting to the event.   client's coworkers and other friends
in this area and fortunate-                                      Some of the differ-    that also want to celebrate a lunch
ly I feel that I can add                                         ent themes have        outing with them. Great way to net-
some insightful input to                                         been       Valentine   work with the people who are impor-
those searching for new                                          Luncheons during       tant to your client
and fresh ideas. I have                                          the     week      of
spent the past decade                                            Valentine's     Day.   5) CE Meetings for CPA's: Host a
wholesaling in the Bay                                           Cinco De Mayo          small brown bag lunch for a group of
Area and to my account I                                         Lunches,        Tax    CPA's and offer a one hour CE cred-
have done over 1000 dif-                                         Freedom Day , St       it. Many Investment companies and
                               David Borelli is the President of
ferent events ranging from the East Bay FPA. David has Patrick                   Day    Annuities companies will have one
breakfast to dinner and served on the board for the Luncheons                    and    hour CE presentations available for
from small groups to large past five years and he is a VP March              Madness                        Cont’d next page
                               with Oppenheimer Funds.
groups. As in prospecting                                        Basketball Lunches
and building a successful practice
there are many different ways to 3) Charity Workshop Event: Many
                                                                                                  East Bay Chapter
achieve the desired results that you advisors work with Charities and Non                        Executive Director
may be looking for.                          Profits. One way to raise money and                      East Bay
    I will share with you my Top 5 get more exposure for you is to offer                          Krysta Patterson
events for 2011 and how to effec- to host a workshop for the organiza-               
tively plan and prepare for these tion. The twist is that to attend the
activities.                                  workshop the charity or organization         New address? Has your membership
                                                                                                information changed?

FPA PLANNER                                                                                            MARCH 2011,     PAGE 7.
                                                                                            East Bay

Client Acquisition
Ideas for 2011 Cont’d

use with the local wholesaler. Small
groups of 4-6 CPA's will give you
the opportunity of networking with
the right COI's.
  As you can see there are many dif-
ferent ways to consider your next
client acquisition event for 2011.
This is just a sampling of the many
things that you can work on to help
grow your practice this year. I hope
these ideas help you down the right
path of planning a successful event.
See you at our next meeting!

                                        East Bay Chapter Partners
            Oppenheimer Funds           Franklin Square Capital Partners          MFS Investments
                 David Borrelli                   John M Sorrell                    Aldo Barbaglia
                (925) 212-0862                   (925) 858-2497                    (925) 736-8622    

         Shaffer Insurance Services          Putnam Investments                   Strategic Capital
          Shaffer Insurance Services              Alex Hayes                     Roshan Weeramantry
               (925) 944-7100                   (415) 730-3941                     (408) 314-7895

        Redwood Mortgage Investors            Franklin Templeton           Lord Abbett & Company, LLC
              Diana Mandarino                      JB Walker                    Douglas Stockslager
           (650) 365-5341 ext. 212              (925) 708-4672                    (201) 827-2897       

           Hennessy Funds                   Guardian Life Insurance         Wells Fargo Advantage Funds
             Brian Peery                           Brent Frisk              Allison Lovell / Kristina Page
           (800) 966-4354                        (415) 264-4721                     (510) 932-2304       
         Pioneer Investments                      RS Funds
              Scott Martin                     Hudson Walker                      CMG Mortgage
            (925) 818-2400                     (415) 308-2522                        Doug Nesbit                  925.983-3033
               Black Rock                Signet Mortgage Corporation
             Jennifer Nelson                       Clay Selland
             (925) 948-5600                  (925) 807-1500 xt.303 

FPA PLANNER                                                                           MARCH 2011,      PAGE 8.
                                                                                                        East Bay

                                   FPA East Bay Chapter Meeting

              Investment Strategy in a Complex World:
      Balancing a Better Growth Outlook with Rising Inflation
                Risks and Government Debt Burdens
                     Charles Blankley, Gemmer Asset Management, LLC

    Date:                         Overview:
    Wednesday, March 2, 2011      Featured speaker Charles Blankley, CFA, will discuss how to invest in an ever-changing
                                  world full of opportunities and risks.
                                  He will analyze attractive asset classes in an environment where the outlook for growth
    Time:                         is better, but significant risks remain with rising inflation and huge government debt
    7:15 am                       burdens.

    Location:                     Presenter's Bio:
    Round Hill Country Club,      As Chief Investment Officer and Portfolio Manager of Gemmer Asset Management,
    3169 Round Hill Rd.,          LLC he also serves as the Director of Research and guides the firm's asset allocation
    Alamo, CA                     decisions as well as mutual fund and ETF research and selection.
                                  Charles is a Chartered Financial Analyst and a member of the Investment Advisory
                                  Committee and also a member of the CFA Institute.
    CE Credits:
    1 Hour                        How to register:
                                  You register for both the General Meeting and Ethics Course with check or credit card
                                  online at:
    General Meeting:              For more information:
    $30 FPA Members               For more information go to or contact Krysta Patterson
    $40 Non Members -             925.935.9691
    Advance Registration

            This meeting is sponsored by our 2011 Gold Sponsor: Aldo Barbaglia, MFS Investments
       *For information on future meetings please refer to the Chapter Meeting Calendar at the back of this issue.

                       2011 FPA NorCal Conference
       Tuesday, May 31 & Wednesday, June 1. The Palace Hotel in San Francisco
FPA PLANNER                                                                                       MARCH 2011,     PAGE 9.
                                                                           San Joaquin Valley

                                           • Pacific Life                              contact Erin Aquino, the Chapter's
President's Column                         • GPS Financial Solutions & First           Executive Director. She can be
by Seth P. Shapiro, JD                     Priority Financial                          reached at (209) 946-2294. We also
FPA San Joaquin Valley
                                                                                       still have positions open on our
                                              The PPO Event would not be pos-          board for 2011. If you are interest-
                                            sible without the generous support         ed in joining our board you can con-
   Whew! After months of planning, of all our sponsors.                                tact Erin Aquino.
the San Joaquin FPA Chapter just               When all was said and done, all of
wrapped up its 11th Annual the hard work paid off. For the sec-                        CHAPTER NEWS
Planning Pays Off Event ("PPO ond straight year, we saw an increase
Event") at the University of the in attendance, with more than 130                     While the date has not yet been set,
Pacific on January 29th. I would members of the Stockton and                           we expect to hold our first members'
like to thank all of our speakers and greater San Joaquin Community                    meeting of the year on Tuesday,
moderators for helping                                      joining us for a morn-     March 22, 2011 at 12:00 p.m.
to make the PPO Event                                       ing of financial plan-     (Location TBD).           Our new
such       a      success.                                  ning presentations.        Programs Coordinator Tina Wells
Unfortunately, I could                                         Those in attendance     Lee of Pinnacle Financial has lined
not attend all of the ses-                                  were treated to a          up a great speaker; Judy Haber. Ms.
sions, but the feedback                                     somber, yet hopeful,       Haber is a marketing consultant and
for each has been                                           address about the state    will be making a presentation enti-
tremendous.                                                 of Stockton's finances,    tled "Marketing Solutions for
    I would also like to                                    budget difficulties, and   Growth." If you would like more
thank all of the PPO                                        financial future by        information about this event please
committee members for                                       Stockton's new City        contact Seth P. Shapiro at (209)
volunteering their time                                     Manager Bob Deis.          472-7700 or sshapiro@herumcrab-
over the last several Seth P. Shapiro, JD                     We also put on three
months.                    President FPA San Joaquin Valley
                                                            tracks of programs
                                                            designed to address
We would like to thank our 2011 the concerns of our community.
Premier Sponsors:                           The first track entitled "Life, Death,
                                            and Taxes" featured presentations
• The Record                                on the 2010 Tax Relief Act, safe-
• University of the Pacific                 guarding retirement assets, and
• Hospice of San Joaquin                    estate planning. The second track
                                            focused on recovering from debt
Also, I would like to give special with presentations on bankruptcy
thanks to our other sponsors:               options, short sales, and cancellation
                                            of debt taxes. Out third and final
• American Century Investments              track focused on personal finances
• Christopher Olsen                         and investing with presentations on
• MFS Financial                             government benefits, social security
• Darrell Drummond                          benefits, and investment options.            San Joaquin Valley Chapter
• Herum Crabtree                                We will begin planning for the
                                            2012 Planning Pays Off event in the
                                                                                              Executive Director
• Hank Klor and Associates
• Oppenheimer Funds                         next few months. If                                 San Joaquin Valley
• Frank Feng                                you are interested in planning or                     Erin Aquino
                                            participating in the 12th annual      
• Manning & Napier                                                                                209-473-4045
                                            Planning Pays Off event you can
FPA PLANNER                                                                                         MARCH 2011,   PAGE 10.
                                                                                                   Silicon Valley
                                                                                                               w w w. F PA S V. or g

Have You Gotten                                five years supporting her desire to           driving she had fallen a few times and
                                               stay at home became our mission               she also had a few scrapes of her fend-
That Call Yet?                                 and also became progressively more            ers (parking barriers and fortunately
by Bob Adams, CFP®, MBA, MSFP                  involved. As our parents age, this is         not other cars). Her early falls didn't
President's Column                             a story that plays out in millions of         involve any major broken bones, but
FPA Silicon Valley
                                               households around the country.                did involve some physical therapy and
                                                      As planners we are know the            that is where we discovered by experi-
                                               importance of Wills, Trusts,                  ence that a live-in support person to
   Several years ago I attended a ses-
                                               Durable Powers of Attorney and                allow her to "age in place" wasn't a
sion at a FPA National conference
                                               Advanced Medical Directives. We               viable strategy for her.
entitled "Have you gotten that call
                                               remind and cajole our clients to get             One day out of the blue I got a call
yet". The session was lead by an
                                               these documents in place and then             from a neighbor of hers that she had
Estate Planning attorney and her
                                               to keep them refreshed as needed.             fallen in the front yard (fortunately it
question was aimed at whether
                                               I submit to you that this is just the         wasn't the backyard). The neighbor
you'd received a call signaling that a
                                               start of the planning you want to             had called an ambulance so I found
life-changing event had happened
                                                              do.                            myself scooping up her Advanced
to a parent or other
                                                              You also want to have a        Medical Directive as I ran out the
family member. This
                                                              discussion with your par-      door heading over to Kaiser Hospital
usually requires you to
                                                              ent about when is the          not really knowing at that point the
spring into action. This
                                                              right time to consider         extent of her injuries. She had broken
might be a stroke, heart
                                                              stopping driving and also      a bone in her lower leg and they
attack, broken hip or
                                                              what type of living            repaired it with surgery. After a few
some other medical
                                                              accommodations they            days they discharged her to a not so
event or accident that
                                                              desire at a later transition   nice nursing home (I called it the
will change the status
                                                              point.                         "land of the low-bidder") where she
quo and very often sig-
                                                                    Most of us may           received very minimal physical thera-
nal that major changes
                                                              remember the sense of          py.
are ahead.
                                                              freedom driving brought            After she left the hospital I began
   My Mother is 90 and Bob Adams is the President of
                                                              into our lives as a teenag-    looking around for a good place for
until about 14 months the Silicon Valley FPA. Bob has
                                                              er. Driving as a teenager      her to rehab with the intention of
ago she was driving. served on the board for the
                             past 3 years and he is President was largely an elective        supporting her desire to go home. I
My Father passed away of Armstrong Retirement
                                                              activity, it expanded our      also engaged Michelle Rogers of
at 68 so she has been Planning in Cupertino
                                                              possibilities, but in most     HomeInstead Senior Care (a valued
living alone for over 20
                                               cases it wasn't critical. When a sin-         Gold Sponsor of our Chapter) to
years. Like many of her generation
                                               gle or widowed senior living alone            develop a strategy and provide
she married after World War II and
                                               stops driving it has an enormous              staffing to help my Mother when she
bought a very modest home that
                                               impact on their access to friends,            returned home.        Michelle and her
she still owns. A common refrain
                                               shopping, eating out and so much              staff are great and I would highly rec-
for many seniors is that they want to
                                               more that we all take for granted.            ommend them.           Cont’d next page
die in their home, or as the popular
                                               As an example, when she still drove
expression goes, "age in place". I
have a Sister who lives in
                                               my Mom would go out and grab                         Silicon Valley Chapter
Sacramento and I lived 20 minutes
                                               something to eat if she was hungry                     Executive Director
                                               and didn't feel like cooking.                              Silicon Valley
from my Mother so I became the
                                                    In my Mom's case and I under-                        Marion Briggs
designated person to make that
                                               stand this is somewhat typical, her         
happen. Along with help from my                                                                          877-808-2699
                                               need for support involved several
wife and son, and my Sister and
                                               major transitions over the course of             New address? Has your membership
Husband on weekends, over the last                                                                    information changed?
                                               12 to 18 months. Prior to stopping
FPA PLANNER                                                                                                 MARCH 2011,      PAGE 11.
                                                                                        Silicon Valley
                                                                                                     w w w. F PA S V. or g

Have You Gotten                            Need Projects Completed?
That Call Yet? Cont’d
                                             MS, MBA, PMP, CFP® and CMT®
   While I suppose this is not funny,             candidate available.
it made me laugh when I found out               Former financial systems
one day that my Mother was okay                        consultant.
with the term "physical therapy",
                                                 Contact Mark Walsh at
but when I used the word "rehab"
she took exception because she said                (510) 457-8742 or
it sounded like she was recovering    
from substance abuse or some other
similar issue. Ah, the power of T.V.
   As they say, "Perception is reality"
so be sure to have a set of discus-
sions with your siblings and your
parents to help develop a plan
before "you get that call".

                                          Silicon Valley Chapter Partners

          The Dayton Law Firm                  Thornburg Investment Management                  IShares 529 Plan
               Rich Dayton                              Dean Mesquite                               Vivian Tsai
              408-437-7570                          877-215-1330 ext.7217                        (415) 670-4724                

                        Home Instead Senior Care                          Stonecrest Managers
                             Michelle Rogers                                  Christina Gray
                              650-691-9671                               408-557-0700, ext. 302
       Partners Mortgage                                          Heffernan Insurance Group
                                                  Commonwealth Financial
          Joe Cucchiara                               Philip Nisonger                              Deborah McGreenery                      (408) 286-8483                                   707-789-3068
         (408) 342-3755                                   

                         Bank of America Home Loans                         Redwood Mortgage
                                   Greg Hacker                                 Crystel Stanford
                                 (408) 483-2225                           (800) 659-6593 ext. 215

FPA PLANNER                                                                                     MARCH 2011,       PAGE 12.
                                                                                       Silicon Valley
                                                                                                    w w w. F PA S V. or g

                          Silicon Valley FPA Brown Bag Lunch Event
  Note: Silicon Valley FPA Brown Bag Lunch Events require FPA membership to attend. FPA members from other
                         chapters are welcome to attend as well as guests of FPA members.

                                 Marketing Solutions for Growth
              Speaker: Judy Haber, Founder and Principal of Haber Consulting

                                         Date: Friday, April 22nd, 2011
                                         Time: 12:00 noon to 1:30 pm
                                         Location: San Jose, CA (Rose Garden Area)
                                         Cost: $10
If business growth is your goal, then you need marketing solutions that get you there. Attend this dynamic session
to learn how to put in place marketing strategies to increase referrals, expand and leverage COI networks, identify a
niche market and achieve expert positioning. Judy will provide attendees with specific tactics that get results and stim-
ulate thinking around long-term goals and how to reach them through effective, comprehensive marketing planning
and implementation. This session has benefits for both seasoned advisors, as well as those newer to the profession.
There will be opportunity for questions from the attendees.

Speaker Bio:
As Principal of Haber Consulting,, Judy Haber has been providing marketing consulting
services to registered investment advisors and financial institutions for over fourteen years. She works with advisors
to achieve business growth through focused and effective marketing planning and implementation. Judy previously
served as Director of Marketing at Schwab Institutional. Working closely with Schwab's advisor community, she
helped advisors grow their practices by implementing programs and services that educated and provided marketing
tools and resources.

                   Seating is limited. To reserve your seat, please RSVP early to Cynthia Riley at
                    A $10 fee will be collected at the door.

FPA PLANNER                                                                                     MARCH 2011,      PAGE 13.
                                                                                                 Silicon Valley
                                                                                                               w w w. F PA S V. or g

                                   FPA Silicon Valley Chapter Meeting
                      Straight Talk on Social Security & Medicare:
                      What are the real fiscal issues for these programs, and will the
                 Financial Planning Profession step up to facilitate a national discussion?
 Date:                                                 Tim Kochis
 March 11, 2011
                                           Tim will share some of his insights on the current financial state of Social Security
 Time:                                     and Medicare, looking at the necessity for concerted action to shift these programs
 11:30am - 1:30pm
                                           fiscally. He will offer comments on possible long-term solutions, including how
                                           financial planners can insist on honest dialogue - allowing our profession to facilitate
 Location:                                 a productive national dialog. This is an extremely timely topic, given the newly
 TechMart, 5201 Great
                                           enacted Healthcare legislation and the fact that Social Security paid more in bene-
 America Parkway, Santa Clara
                                           fits than it received in payroll taxes in 2010 - a tipping point not expected until
 CE credits:
 1 hr CE available pending approval
                                           Presenter's Bio:
 by the CFP Board
                                           Tim is Director of New Business Lines and serves as Chair of Aspiriant's
                                           Board of Directors. From 1991 - 2009, he was Chief Executive Officer of
 Cost:                                     Aspiriant and of one of its predecessor firms, Kochis Fitz. Before founding
 Early Registration
                                           Kochis Fitz in 1991, he was National Director of Personal Financial Planning
 $35 members $40 non members.
                                           for Deloitte & Touche (1985 - 1991) and before that for Bank of America
 At the door
                                           (1981 - 1985).
 $55 or members, $60 non-members
 Please note: Early registration closes
                                           How to register: Register now via credit card at
 on March 7th. You may continue to
 register online until March 9th. After
                                           For more information:
 March 9th, please register at the door.
                                    This meeting is sponsored by iShares 529 Plan
        *For information on future meetings please refer to the Chapter Meeting Calendar at the back of this issue.

                          2011 FPA NorCal Conference
        Tuesday, May 31 & Wednesday, June 1. The Palace Hotel in San Francisco

FPA PLANNER                                                                                                MARCH 2011,        PAGE 14.
                                                                                        Monterey Bay

                                       financial plan. I was willing to turn     fit of utilizing specific expertise. My
President’s Column                     this over to a trusted advisor and        financial planner was elated - I finally
by Andrea Roland, CFP®                 really didn't even know intelligent       got it!!!!
Monterey Bay Chapter                   questions to ask. Enter the FPA.               I certainly have reaped more in
                                       Through my association with mem-          monetary value than the salary could
                                       bers, I began to understand the           ever provide and I am grateful for this.
  This month's column is being writ- importance of the designation               But more importantly, I have made
ten by our Chapter Administrator, CFP®. I understood the importance              life-long friends within this organiza-
Carol Murray. Carol offers some of the code of ethics. I understood              tion. They have encouraged me to
insight as to how this position has the value of responding to my plan-          think outside the box in planning for
been of personal benefit.              ner on a timely basis in providing        my future. They have been there
   In 2003, I retired after 28 years him the data he was asking for. I           when I've needed a shoulder to cry on
with a major credit card company. began understanding what the                   or when I've wanted someone to share
Having just lost my husband and impacts of upcoming changes to                   a laugh with. And they will be there
with guardianship of my 13 month legislation would have on my own                long after I've given up this position.
old grandson, a close friend of mine portfolio. The programs I was                  I thank my friend for recognizing I
felt that retirement was going to scheduling for the chapter suddenly            needed this adventure and I thank
keep me too isolated. She                                   had an impact on     you, my friends, for taking me on it.
convinced me to apply for an                                my own financial
open position with the                                      plans. When the      Monterey Bay Members, Save the
Monterey Bay Chapter of the                                 county tax asses-    Dates:
FPA. What the heck, there                                   sor spoke of         NorCal Conference: Scheduled for
was nothing to be lost by                                   u p c o m i n g      May 31st and June 1st, this confer-
interviewing and so I inter-                                s t a t e w i d e    ence is full of incredible information.
viewed with the incoming                                    changes to the       Round Up: Scheduled for August
president, Nancy Bernaldo,                                  property       tax   11-14, this conference held on the
and the president-elect,                                    assessments,     I   UCSC campus is also packed with
Kimberly Hankins.         Both                              became aware of      information and fun.
were positive, upbeat people.                               how to research
Most of the duties could be                                 the impact to me.
performed from home around      Andrea Roland, CFP® is with Programs       on
my schedule and monthly Wealth Architects, LLC in insurance trig-
                                Mountain View.
                                                                                 CHAPTER NEWS
chapter meetings would get                                  gered the realiza-
me out of the house and meeting tion that I hadn't changed all my                Congratulations to Karra Canum,
new people. Nothing ventured, beneficiaries. Programs on estate                  CFP® of San Jose who is celebrating
nothing gained and so I embarked planning suddenly took on new                   his 10th anniversary with the FPA
on an 8 year journey.                  meaning.        When we undertook a
   Duties for the position were pret- large project of conducting a multi-
ty straightforward - setting up disciplinary workshop, the benefits
meetings, securing venues, sending were huge. I not only got to brush
communications to the members, up on my project management                              Monterey Bay Chapter
etc. Being a people person, I loved skills, I suddenly understood the                    Executive Director
the interaction with the members importance of having a team                                 Monterey Bay
and guest speakers, but I quickly approach to managing my own                                Carol Murray
recognized an invaluable benefit.      portfolio. I no longer looked at         
  Although I had been in finance for having an attorney and a CPA and a                      831-594-2292
most of my career, I really didn't financial planner as more money out              New address? Has your membership
                                                                                          information changed?
like managing my own long-term the door, but understood the bene-
FPA PLANNER                                                                                    MARCH 2011,     PAGE 15.
                                                                                           San Francisco
                                                                                                        w w w. F PA S F. or g

                                           able in financial planning texts.           tion or activity, as part of achieving
To Expertise,                                   On top of this, we can add the energized focus and indescribable hap-
and Beyond!                                more mundane challenges, as clients piness. People achieve more when they
by Ralph Latza JD, LLM, CFP®               fail to complete their estate plans, fail have a sense of calm with what is going
President's Column                         to submit insurance paperwork, and on around them.
FPA San Francisco
                                           fail to abide by our investment rec-          Planners love delegators, where we are
                                           ommendations. Boy-there's a lot of given responsibility for the financial
  What is the role of a financial plan- failure going on, huh? And frankly, a decisions of our clients so they can focus
ner in a client's life?                    lot of judgment on the part of the on other things. While it becomes easy
  People come to planners at various planner, whether stated or not.                   for planners to assume the decision
stages of unrest and uncertainty.             By constantly telling things to our making function for these clients, the
There is often a pain which they can clients, we end up playing the part of reminder here is to make sure clients
no longer deal with, so they come to a parent, which while important to feel a sense of control over, and engage-
us seeking assistance. Our natural the popularity of Suze Orman or ment with, their lives. We must also lis-
tendency as financial planners is to Tony Robbins, does not offer our ten for the unspoken needs which are
want to make that pain go away.            clients the pathway to expressing not so easily answered.
   Through our training and expert- their needs and making smarter                        How we show up with clients goes a
ise we know what is best to alleviate money decisions.                                 long way to establishing trust, and put-
the suffering. We know, for exam-             Of course, some clients may bene- ting clients at ease to become open to
ple, the importance of planning for fit from a nagging parent, and all their potential. There is nothing more
retirement, so clients are equipped planners must deliver high quality uncomfortable than to be exposed and
with financial resources for their advice. The challenge is to create the vulnerable to another person without
next chapter. At other times, we cel- context for learning which can be that person reciprocating. Financial
ebrate our clients' rise up                                    maintained without planners ask people to share their
the corporate ladder, as                                       our presence. Let's financial lives, their personal dreams,
they reach new pinnacles                                       face it, we do not live and money histories. We often delve
of wealth and opportuni-                                       in Lake Wobegon, into their past, present, and future,
ty.      We manage the                                         where all the women without offering anything of ourselves.
money, or position the                                         are strong, all the If we are to be fully present in a trust-
insurance, or plan the                                         men are good-look- ing relationship with our clients, then
estate in a tax-efficient                                      ing, and all the chil- we are required to be authentic with
manner.         We are very                                    dren are above aver- them. We all witnessed this in the
good at solutions.                                             age; we live in the recent economic crisis. Planners, like
    Despite all this "know-                                    land of poor diets, the rest of the world, were caught off
ing" and "solving," some                                       failed marriages, and guard. Our defenses were down, and
things are not so straight-                                    high blood pressure. we allowed ourselves to be more pres-
                             Ralph Latza, JD, LLM, CFP® is the
forward. What about the President of the San Francisco People do not always ent, and human, with our clients. Our
fears that our clients expe- Chapter and a wealth advisor do what is in their greatest contribution was often that of
rience as they leave the with Private Ocean in Marin.          best interests.                                Cont’d next page
world they may have                                               To this end, one of
known for 30 or 40 years for the the greatest gifts we can give our                           San Francisco Chapter
"reward" of retirement? Or the feel- clients is a sense of control in their                     Executive Director
ings of insecurity and doubt as clients lives. In his book, "Flow: The                              San Francisco
rise to higher levels within a firm or Psychology                  of        Optimal               Marion Briggs
company? These are real questions Performance",                                Mihaly, 877-260-3218
for clients, often unstated. Here, the Csikszentmihalyi describes the impor-                        New address?
"solutions" are not so readily avail- tance of personal control over a situa- Has your membership information changed?

FPA PLANNER                                                                                         MARCH 2011,      PAGE 16.
                                                                                            San Francisco
                                                                                                       w w w. F PA S F. or g

                                           person we are privileged to serve.        pulling possibility out of the hat.
To Expertise,                              Patrick Lencioni describes this as        Please feel free to share your stories
and Beyond! Cont’d                         "getting naked," in his similarly         and thoughts with me at ralph@priva-
                                           named book. The agenda is that of Life is an ocean, teach
                                           the client, not our own.                  people to fish!
                                              The work we do offers an incredi-
a listener, as clients shared stories of
                                           ble opportunity to be transforma-
fear and uncertainty. We responded
                                           tional in our clients' lives. This
with full attention and expressed
                                           transformation is not in the way we
true emotion. This was not an
                                           often envision our role, which is that
imaginary game, but real life. Our
                                           of an expert directing the clients as
businesses were at risk, and we
                                           to the best path up the mountain to
showed up fully.
                                           financial freedom. Instead, the
     That same level of attention is
                                           transformation is about empowering
called for in all our listening with
                                           others to live a fuller, more aware
clients. This is not about finding
                                           life, where their choices are based
openings to share similar stories to
                                           upon their values,           and their
appear "just like them." This is not
                                           overall experiences are richer.
about looking brilliant. Instead, this
                                              We create magic when we are fully
is about attention from a place of
                                           present with another person. In this
honest interest and non-judgmental
                                           "Year of the Rabbit," let's keep
curiosity, where our focus is on the

                                           San Francisco Chapter Partners

                                      Laserfiche                       U.S. Global Investors
                                     Marcel Tsai                          Max Porterfield
                                562-988-1688 x191                          210-348-2644

      Redwood Mortgage     Golden Gate University     Junxure                   Diamond Hill       Fort Point Insurance
        Crystel Stanford       Steve Hawkey        Erin Kincheloe                 Investments        Randy Schneider
      800-659-6593 x215        415-442-6584               Ed Vukmirovich        415-781-8813                                       614-255-3333

          Artisan Funds                ING Investment Management                 Allied Home Mortgage Capital Corp.
          Patrick Kearns                       Troy Chakarun                                Mary Jo Lafaye
          415-265-3561                         415-298-8974                                 415-259-4979              

                    UC Berkeley Extension                                Artio Global Investors
                          Keith Gatto                                         Jeffrey Hensal

FPA PLANNER                                                                                           MARCH 2011,    PAGE 17.
                                                                                            San Francisco
                                                                                                          w w w. F PA S F. or g

                              FPA San Francisco Chapter Meeting

         Incorporating Alternative Investments into Portfolios
                                                   (Large and Small)
                           Brian Hurst, Jack Dzierwa, Georganne Perkins

 Date:                               Overview:
 March 9, 2011                       With the developed world facing headwinds over the next generation(s) -- enormous
                                     debt and obligations, and declining populations, where will the investment returns
 Time:                               from our clients come from? This session will focus on three alternatives to tradition-
 9:30am-1:30pm                       al asset classes that may provide differential return to our client portfolios.
                                        The speakers will address how each of the alternative investment vehicles are differ-
 Location:                           ent from traditional asset classes and how they may provide differential return and/or
 City Club of San Francisco,         risk management features that complement portfolios with traditional assets.
 155 Sansome Street                     The speakers' presentations are titled, respectively,
                                        "Understanding Managed Futures";
 CE credits:                         "Building a Better World: Opportunities in Global Infrastructure," and "Private
 3.0 pending approval from the       Equity and Its Role in a Portfolio"
 CFP Board
                                     Presenter's Bio:
 Cost                                Brian Hurst is currently the head of the Global Trading Strategies group and a
 Early Registration                  Portfolio Manager of two of AQR's mutual funds. He has published various white
 $65.00 FPA members,                 papers including "Understanding Managed Futures" and "Understanding Risk
 $85.00 non-members.                 Parity".
 At the door                           Jack Dzierwa is global strategist at U.S. Global Investors, and has spent his 15-year
 $85.00 for FPA members,             capital market career in Eastern and Western Europe, Latin America, Canada and the
 $105.00 non-members.                United States.
 Please note: The cutoff for early     Georgeanne Perkins is a Managing Director of Fisher Lynch Capital and she focus-
 registration pricing is Friday,     es primarily on the firm's venture capital and buyout fund investments. Prior to join-
 March 4th. You may still con-       ing Fisher Lynch Capital, Georganne was Director of Private Equity at the Stanford
 tinue to register online until      Management Company, which was created to manage the investment assets of
 Sunday, March 6th. After            Stanford University.
 Sunday, please register at the
 door.                               For more information:

                                     How to register:
                                     Register online at

                                 This meeting is sponsored by US Global Investors
       *For information on future meetings please refer to the Chapter Meeting Calendar at the back of this issue.

                         2011 FPA NorCal Conference
       Tuesday, May 31 & Wednesday, June 1. The Palace Hotel in San Francisco
FPA PLANNER                                                                                           MARCH 2011,       PAGE 18.
                                               Chapter Meeting Calendar
                           East Bay                         San Francisco                             Silicon Valley

                        Wednesday,                           Wednesday,                                    Friday,
                         March 2nd,                           March 9th,                               March 11th,
                           7:15am                          9:30am - 1:30pm                         11:30 am - 1:30 pm
                        Round Hill CC                           City Club                                TechMart
                    Major Trends Affecting                   Incorporating                       Financial State of Social
                     Investment Markets                        Alternative                      Security: Will the Financial
                      Charles Blankley                  Investments into Client                Planning Profession Step up
                                                         Portfolios (Large and                    to Facilitate a National
                                                                 Small)                                 Discussion?
                                                                                                       Tim Kochis

                           Wednesday,                          Tuesday,                                  Friday,
                             April 6th,                       April 19th,                              April 8th,
                              7:15am                       11:30am -1:30pm                        11:30 am - 1:30 pm
                          Round Hill CC                        City Club                               TechMart
                     Ensuring Clients Have                   Incorporating
    APRIL                                                                                      Credit Ratings, Bankruptcy
                         Life Their Way…                 Philanthropy into the
                                                                                                   and Credit Repair
                       Putting the Client's               Family Wealth Plan
                     Fingerprint in the Long                   Bob Lew                          Panelists: David Rao,
                       Term Care Planning                 Karen Meckstroth                     Natalie Knowlton, Hanna
                         Linda Fodrini-                                                                  Fliegel

                        Wednesday,                                                                       Friday,
                          May 4th,                                                                    May 13th,
                          7:15am                                                                  11:30 am - 1:30 pm
                        Round Hill CC                                                                  TechMart
    MAY                     TBA                                                                  Sustainable and Green
                                                                                                   David Kurzman

                                      For advertising opportunities, please contact
                              Brenda Herrington at 650-851-4414 or
                                      Production and Layout by Audrey McGimsey

Planner is published monthly by five Northern California chapters of the Financial Planning Association: FPA of the East Bay, FPA of
San Joaquin Valley, FPA of Silicon Valley, FPA of San Francisco and FPA of Monterey Bay. The views and opinions expressed in Planner
are not necessarily those of FPA or its members. Planner may not be reproduced without permission from the publisher. The Northern
California FPA Chapters welcome advertisements from reputable suppliers of products and services to the financial planning commu-
nity. However, Planner does not perform “due diligence” on advertisers, authors or sponsors and cannot guarantee that their offer-
ings or writings are suitable or correct.
FPA PLANNER                                                                                             MARCH 2011,        PAGE 19.
the Financial Planning Association
3130 Alpine Road,
    Suite 288
Portola Valley, CA

                                          Chapter Executive Directors
            New address? Contact your chapter office directly at the email or phone below

         East Bay         San Francisco          Silicon Valley          San Joaquin Valley      Monterey Bay
     Krysta Patterson    Marion Briggs          Marion Briggs              Erin Aquino           Carol Murray
       925-935-9691       877-260-3218          877-808-2699               209-473-4045          831-594-2292

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