JOIN NOW (PDF) by yaofenjin


									    OF MINNESOTA
                                The Heart of Financial Planning
                                                                                                                           NEWS                June 2008
                                                                                                                                  “A Gold Level Chapter”
  The Financial Planning Association of MN presents                                                                                                Golden Valley
            Employers and Health Care Reform:                                                                              June 17th -             Country Club
              The New Challenges of 2008                                                                                        7:00 am: Registration
                 Presenter Greg Dattilo                                                                                          7:30 am: Breakfast,
                                                                                                                             Announcements and Program
                                        On June 17th at 7:30am Gregory Dattilo, a longtime analyst                            763-732-4131 • Directions Link
                                        and commentator on the U.S. health care system, will
                                        compare and contrast health care reform options,
                                        demonstrate the likely potential effect of various current                        As a result of attending,
                                        option proposals and focus on the latest in reform                                you will be able to...
                                        negotiations. Government reforms are compared with
                                        private reforms already underway. You will be better                              • Grasp and apply knowledge about health
                                        prepared to educate clients and communities on the various                          care reform trends. Thus, they will be more
                                                                                                                            ready to help clients make informed
                                        health care reform options, and apply them to effective                             decisions about financial plans in the
                                        health care and financial plans for their clients.                                  context of the current and anticipated
                                                                                                                            health care reform effort.
Gregory Dattilo has served for more than 30 years as an employee benefits                                  • Help evaluate new insurance and
consultant and is the founder of two successful firms, offering health insurance                             investment products in light of best benefit
coverage to thousands across the nation. A Certified Financial PlannerTM, Dattilo                            to their clients.
earned the designation of Certified Employee Benefits Specialist (CEBS) in                                 • Be a community resource to aid in the
1993 from the University of Pennsylvania’s Wharton School of Business. Earlier,                              understanding and proper use of health
he received his bachelor’s degree from the University of Wisconsin—Stout,                                    insurance plans as a way to indemnify and
                                                                                                             protect health and financial assets.
                                                          Menomonie, Wis. Dattilo was named a
                                                          Fellow of the International Society of
      JOIN NOW                                            Certified Employee Benefits Specialists in 1995. A frequent lecturer on insurance and
                                                          health care issues, Gregory is the chief executive officer of Dattilo Consulting, Inc., and
                                                          ClientServ, LLC, both located in Minneapolis, Minnesota. In 2001, he created a unique
    WHAT’S INSIDE:                                       insurance application form, which allows users to access an array of benefits packages, and
 Greg Dattilo ........................................ 1 it has since become the industry standard in Minnesota. The objective of this and many other
 2008 Board ........................................ 2
 Archived Presentations ...................... 2         of his innovations is to increase competition, reduce costs and improve the quality of U.S.
 New Members & Anniversaries ....... 3                   health care. He is the founder of the Minnesota Employers’ Roundtable, which he served as
 Golf/Bocce Ball Outing .................... 4           president, and is a member of the National Association of Insurance and Financial Advisors,
 Pro Bono - Perspectives ..................... 5
 May Meeting Review ......................... 5          and the National Association of Health Underwriters. Dattilo is regularly engaged in the
 Seven Stages Workshop .................... 6            health care policy debate as an advocate of free markets.
 Government Relations ........................ 7
 FPA PAC ................................................ 8   Arrive in time to be seated by 7:30 am. The program ends at 10:00 am. Avoid the $15
 2008 Symposium ........................ 9-10
 Supporting Partners .......................... 11            last-minute registration fee by reserving your spot before 5:00 pm on Friday, June 13th.
 Upcoming Meetings .......................... 14              Meeting fees: Members without a Season Pass - $40; Non-Members - $55. RSVP early.

                                                              The 3rd Tuesday - June 17th, 7:30 am - Golden Valley Country Club, 7001 Golden Valley Road
                       Season Ticket Pass:
                                                              (763-732-4132). If you have not already registered by clicking YES on your email invitation, you may click
                        Register through
                                                              the link in the above paragraph or call (612) 706-3060 or e-mail Anticipated credits
                        Email Invitation                      include: 2 MN CEU/2 CFP Board/2 CPE. CFP® and Certified Financial Planner® are marks owned by the
  Non-Season                                                  Certified Financial Planner Board of Standards, Inc. (CFP Board). Course Level: Basic. There are no pre-
    Tickets:                                                  requisites or advanced preparation necessary for this program. Instructor Qualifications: Minimum 4-year
  Pay Online:                                                 degree plus 5 years practical experience. Instructional Method: Group-Live presentation. All registrations
                                                              (including Season Ticket holders) called in after 5:00 pm on the Friday preceding the chapter meeting or arriving
                                                                                                                                                     Continued on Page 2...
                                           without a registration will be assessed an additional $15. FPA is committed to pay GVCC for every reeservation
                                           made. If you cannot keep your commitment, please call 612-781-1212 to cancel. No shows who fail to
     Year 2008:                            cancel within 24 hours will not receive a refund and will be charged $40. For more information regarding
  Board of Directors                       refund, complaint and program cancellation policies, please contact our offices at 763-781-1212.

                                           The Financial Planning Association of Minnesota is registered with the National Association of State Boards
Joan Rossi, CFP®, 612-870-7414
                                                           of Accountancy (NASBA) as a sponsor of continuing professional education on the National
Rossi Financial Management                                 Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance                                    of individual courses for CPE credit. Complaints regarding registered sponsors may be
                                                           addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville,
President                                                  TN, 37219-2417. Website:
Shawn Jacobson, CFP®/ChFC
952-893-5568 • Legacy Financial Advisors
Nate Wenner, CFP®, 952-548-3404
                                                  Thanks to our June
Wipfli Hewins Investment Advisors               Host & Platinum Partner
                                                Paula Kozlowski • 612-803-4121
Bob Eichten, CFP®, PFS
612-376-9515 • RSM McGladrey, Inc.
Director of Career Development
Joe Pitzl, CFP® • 952-513-1466
                                                                               Live Review
GEN Financial Management                       Keir Educational Resources if offering a Live Review prior to the CFP® Certifica-
Dir. of Ethics & Government Relations      tion Examination in Minnesota. The dates are as follows:
Mike Shovein, CFP®, 651-452-8510               • July 2008 Exam—Review dates June 26-29
                                               • November 2008 Exam—Review dates October 23-26
Director of Financial Literary
John Comer, CFP®, 763-540-0711
Comer Consulting, LLC                      The review will be held at the Courtyard by Marriott, 7800 Bloomington Avenue S,
                                           Bloomington. Questions can be directed to Keir online at or
Director of Member Services
Michael Branham, CFP®                      800-795-5347
Cornerstone Wealth Advisors, Inc.
Director of Membership                      FPA of MN Offers Live Webcasting
Lynsey Wallin, 952-358-7538
Stanton Group                                     and Virtual Seminars
Co-Directors of Partnerships
                                           FPA of MN is dedicated to providing valuable programs to its membership each year.
Todd Fierst                                Over the past few months, we have been testing and improving our ability to webcast
612-964-3069, CNC Mortgage                 our monthly chapter meetings. Our goal is to expand our reach, and provide access to
                                           our monthly chapter meeting to people who may not be able to attend in person.
Michelle Marquez
763-746-8297, RJF - Private Client Group   Our June 17th chapter meeting, Employers and Health Care Reform: The New Challenges
                                           of 2008 with Greg Dattilo, will be available via webcast. Cost to attend via the web will
Director of Programs & Education
Nicole Rosandich, CFP®, 763-540-0711       be $50 each for members and $65 each for non-members. Once you have submitted
Comer Consulting, LLC                      your payment, the call-in number and code will be emailed to you. To guarantee access                to the live session, you must pre-register and pay by 5:00 pm on June 13th. You will
Director of Pro Bono                       have access to the session for a minimum of 30 days. The June webcast has been
Charles Buck, CFP®, 651-330-3585
Buck Financial Advisors
                                           approved for two CFP® continuing education credits. If you wish credit, there are 20                  questions you will need to answer and return to the FPA of MN office. At this point, we
Director of Public Relations               are not yet able to offer MN CE.
Bill Wixon, CFP® MBA, 763-543-1819
Wixon Financial Services Corp
                                           Previous meetings available for viewing and CFP credit include:
                                           • Dynamic Allocation Strategies for Distribution Portfolios with David Blanchett
Director of Symposium 2008
Becky Krieger, CFP® CPA                    • The Top Estate Planning Techniques for Use in Minnesota with Earl Cohen
952-841-2222 • Accredited Invesotrs        • Delivering Quality Financial Advice to the Untapped Market with Sheryl Garrett

Executive Director Bonnie Stanley          Email the FPA of MN office if you are interested in viewing any of the above archived
763-781-1212 •            presentations.
                                                                   Page 2
   Membership Committee                                                               WELCOME
           LYNSEY WALLIN • MEMBERSHIP DIRECTOR                                         ABOARD
                            DEL CERNEY
COMMITTEE MEMBERS:         JOEL JOHNSON      CAROL SCHULSTAD                             Dan Anderson
                                                                                        21ST Services LLC

    2007 - 2008 Member-Get-A-Member Contest                                              Jeanne Bailey
                                                                                        21st Services LLC
               is in the Home Stretch
                                                                                      Cassidy Burns, CFP®
Hip-Hip-Hooray!! Minnesota is in the lead with 45 referred new members!                Riverbridge Partners
FPA of Dallas/Fort Worth is in second place with 24 new Member-Get-A-
                                                                                          Funmi Carew
Member referrals.                                                                           ABN Amro
Congratulations to Michael McConnell who is currently in first place, with 13     Kenneth Cherrier, FLMI, JD
referrals that became FPA members! The winning FPA member and a                 Woodbuury Financial Services, Inc.
companion will be traveling aboard a CelebrityTM cruise ship enjoying the                 Fay DeBellis
splendor of Alaska's famed Inside Passage this summer. For more information               Smith Barney
or to refer a member online, visit
                                                                                        Michael Driscoll
                                                                                        21st Services LLC
               Increase Your Knowledge                                                   Mark Eide
                     to best serve your clients                                 Woodbury Financial Services, Inc.
                                                                                            Larry Ford
                                                                                    Larry A. Ford & Associates
                  Expand Your Network                                           Jeremy Green, CFP®, CLU, CEBS
                       to grow your business                                       Carlson Capital Management
                                                                                         Derek Hansen
                   Manage Your Career                                            American Funds Distributors, Inc.
                       so you stay in control                                             Kelly Hart
                                                                                       Ameriprise Financial
                                                                                           Ed Jones
           Promote Financial Planning-                                                  21ST Services LLC
                        it’s your profession                                         Michael Junker, CFP®
                                                                                         Smith Barney
                                                                                          Jack Kettler
                                                                                        21ST Services LLC
                                                                                         Parks LaMarche
                                                                                        21ST Services LLC
            HAPPY ANNIVERSARY                                                           Jackie Larson
                                                                                    RBC Wealth Management
        25 YEARS                                    15 YEARS                              Andy Levine
        Janice Monson                   William Robertson, CFP® CLU ChFC                21ST Services LLC
         CFP®, ChFC                                LUTCF MSFS                             Eric Marcus
        Waddell & Reed                        Wealth Planning Systems                   21ST Services LLC
        Stan Jacobson                                                                Patricia Meland, CFP®
                                                    10 YEARS                                   ING
           CFP®, JD
  Ameriprise Financial Services            Michael Holsten, CFP®, ChFC
                                                                                    Laurence Menzel, ChFC
                                                 Deloitte Tax, LLP
                                                                                  Retirement Marketing Solutions
         20 YEARS                                                                    Michele Newhouse
                                              Craig Jergenson, CFP®
  Robert Klefsaas, CFP®, AIF                Coach Craig Jergenson, CFP®            Wealth Enhancement Group
       All Star Financial
                                                                                          Mary Pollman
        Robert Flynn,
                                                     5 YEARS                            21ST Services LLC
      ChFC, MSFS, CLU                        Lauri Salverda, CFP®, CFA                  Ryan Shannon
     New England Financial                   Ameriprise Financial Services          Webb Financial Group LLC
                                                       Page 3
                                A “Summer Fun” Event for Financial Planning Professionals
             Annual                FPA of Minnesota Golf Tournament
                                                 Monday, August 18, 2008
                                       Majestic Oaks Golf Club • Ham Lake, Minnesota
                                  ou are cordially invited for a day of golf, prizes and fun to raise money for the
                                Y continued implementation of FPA’s immediate vision and mission. Our “first-class”
                        tournament brings the meeting room outside so you can network with other financial and business
                        professionals from around the state of Minnesota.

Majestic Oaks Golf Club                                                      Golfer’s check-in and lunch ......... 11:30 am
Located just 20 minutes north of the Twin Cities, Majestic Oaks              Tee-off (shot gun, scramble) ....... 12:30 pm
features two 18-hole, beautifully groomed courses, an executive
nine and a full-service pro shop. By hosting hundreds of corporate           Bocce Ball Tournament ................. 2:45 pm
functions, our club has firmly established itself as a premier               Golf Clinic ....................................... 3:45 pm
corporate golf facility in the Twin Cities and one of the largest
                                                                             Awards and Barbecue .................... 5:00 pm
public courses in Minnesota. Each course boasts a unique
layout designed to challenge players of all skill levels. Course       If you don’t wish to participate in the Bocce Ball Tournament,
architect Garrett Gill used natural hazards and terrain in his                     you can sign up just for the Golf Clinic.
distinctive design, providing an aesthetic appeal to the
surrounding landscape. Our scramble format opens the
tournament up to all golfing abilities. Bring a friend or bring                      Contest Holes (Men and Women)
your staff, just don’t bring the rain.                                               • Closest to the Pin • Most Accurate Drive
• Golfers: Mbrs - $125; Non-Mbrs - $135; includes lunch, 18                          • Longest Drive      • Best Ball in Circle
   holes of golf, golf cart, driving range practice balls, and post-                 • Longest Putt
   round BBQ.
• Non-golfers: Mbrs - $50; Non-Mbrs - $60; includes 1 hour
   group golf clinic with PGA pro (you don’t even have to own
   clubs!), driving range practice balls, Bocce Ball Tournament                EVERY attendee (golfers and
   and post-round BBQ.
• Fabulous raffle (includes cash prizes!!)                                  non-golfers) will receive a polo shirt
• Hole in One Contest (win a $50,000 luxury car!)                                    with the FPA logo!
 Name                                                                  Special Sponsorship Opportunities
 Company                                                               •   Beverage Cart ....................................................... $650
 Phone                                                                 •   Putting Contest ........Sold-Mansfield Tanick & Cohen
                                                                       •   Bocce Ball Tournament Sponsor ........................... $250
 Golfer’s Check-In, Lunch, Putting Contest (11:30 am)
                                                                       •   Hole in One: Car ................................................... $600
   FPA Member - $125
                                     Mail a check or                   •   Hole in One: 1st Prize ............................................ $250
   Non-Member - $135
                                     pay online: www.                  •   Hole in One: 2nd Prize. ......................................... $250
 Bocce Ball & Golf Clinic (2:45 pm) store/
   Members - $50                                                       •   Hole in One: 3rd Prize .......................................... $250
   Non-Members - $60                                                   •   Box Lunch Sponsor ............................................... $500
                                                                       •   Sign Sponsor .......................................................... $500
 Register by June 15th and receive a Free Mulligan.                    •   BBQ Dinner Sponsor ......................................... $1,000
 Create your own foursome, or let us create one for you.               •   Out-on-Tee Greeter . Cost varies by partnership level
 2.                                                                    •   Contest/Door /Team/Raffle Prizes ............ value varies
                                                                             Special thanks to our Platinum,
                                                                            Gold, Silver and Golf Partners who
     I wish to donate a prize for this event.
                                                                           graciously donate to make this event
     Contact me about special sponsorship opportunities.
                                                                                        a success!!!
 Sponsor Level
                                                                       Mail registration form along with payment to:
                 by July
            RSVP by July 31, 2008                                      FPA of MN, 3900 Main Street NE, Minneapolis MN 55421
                                                                  Page 4
                                  Pro Bono Committee
                                     CHARLES BUCK, CFP® • PRO BONO DIRECTOR
                                MELANIE HARDIE                                            LAURI SALVERDA
                                 TOBIN JOHNSON          JASON PLANK                       DAVID THESING
                   An Update on FPAMN’s Partnership with Perspectives, Inc.
                                                BY LAURI   SALVERDA, CFP® CFA
The Pro-Bono Committee has partnered with Perspectives, Inc. ( Perspective’s mission for
more than 30 years has been working with women and children to break the at-risk cycle. We have developed a 4 step
educational program for the clients of Perspectives’ Supportive Housing Program (the “SHP”). The SHP provides permanent
housing for homeless or recovering women and children. Perspectives works with these clients to provide the support and
training needed to reestablish themselves as stable and productive members of the community and their families.

Our educational program consists of four one-hour sessions given over a two month period. The four sessions focus on
budgeting, saving, credit and how to involve the family in money issues. The clients will graduate from the program understanding
their credit reports and how to work to improve them, understanding the benefits that may be available at their places of
employment, setting up and sticking to a budget, how to start saving for their first home, and how to teach their children the
information they have learned in order to break the dependency cycle. As we near the end of our second series of classes, we
are making progress in integrating the programs with Perspectives’ other SPH programs. We have received excellent feed-
back from both the clients and the staff. Additionally, Perspectives has added our classes as a requirement within their rental
agreement to their clients.

In April, we assisted Perspectives in applying for a grant to the Foundation for Financial Planning to fund a computer center to
provide the clients access to computers to check credit reports, maintain budgets, and play finance games with their children.
The clients will be able to review the presentations to assist them in their follow-up work.

We are very excited by the progress made in this partnership and are looking for volunteers to assist in teaching this program.
The requirement is only an hour two Wednesdays a month for two months. If you would like to volunteer or would like more
information, contact Lauri Salverda at, (612)877-3177, who is spearheading this great program.

                 Education/Programs Committee
    COMMITTEE               EARL COHEN          ELLEN DUBUQUE            KEN KENNEDY
     MEMBERS:                                                                                 KIMBERLY WONG
                            DOUG COZAD           JEREMY GRAFF            MARK REKOW

                                            Chapter Meeting Review
            David Blanchett - Dynamic Allocation Strategies for Distribution Portfolios
Our May chapter meeting featured David Blanchett, from Unified Trust Company in Lexington, KY presenting a series of
discussions focused on what has become a central question for many advisors; how do I design a portfolio to meet my client’s
retirement income needs?” Blanchett, a Certified Financial Planner, who carries a host of other impressive credentials such as
CFA and a Master’s degree in Financial Services, was a 2007 Financial Frontiers Silver Award winner for his Journal of
Financial Planning article, “Dynamic Allocation Strategies for Distribution Portfolios” Determining the Optimal Distribution
Glide Path.” David presented models (link to attendee handout - in color) which he has developed for evaluating the common
notion that as a client ages, their portfolio should shift from equities to fixed income. David showed numerous simulations with
varying withdrawal rates and portfolio returns. Interestingly, David found that static, non-shifting, all equity portfolios frequently
turned in the best performances, but he was reluctant to recommend this as a “real world” solution due to high potential levels of
volatility and dependence on a future investment world which may be unlike the past. I found that David did a good job of
tempering his analysis with conventional wisdom throughout.
The new location turned out to be less than ideal for a group this size and given the large amount of technical content David was
trying to share, it was sometimes hard to follow, although he would thoroughly present his analytical findings, then point out
counter arguments to his work as well as discussing allowances which he felt should be made for “real world” factors such as
investor risk tolerance. In general, the buzz seemed to be that Mr. Blanchett was knowledgeable and that his work hit on some
key retirement planning topics, but that time would be needed to review the content of his fast paced session and determine how
to use it with clients.                                                                           BY SCOTT OETH, CFP®, CHFC
                                                               Page 5
                     The Financial Planning Association of MN & Kinder Institute of Life Planning presents

                                      The Seven Stages of
                                   Money MaturityTM Workshop

The FPA of Minnesota is please to announce it will hold The Seven Stages of Money MaturityTM Workshop on
September 17th – 18th, 2008. This will help you better understand clients’ psychological and ethical relationships
with money. Seven remarkable ways of approaching every possible money dilemma let you lead clients through a
financial planning process that integrates economic concerns with personal visions.

During this 2-Day workshop, you will gain:
    • Perception: Learn how to recognize and defuse incomplete and partial childhood messages that
       disrupt and confuse the financial planning process.
    • Strategy: Guide clients into recognizing and acting upon what is most important for their lives as well
       as for their money.
    • Knowledge: Understand the developmental process that leads to mature understanding and actions
       in relationship to money.
    • Connection: Respond appropriately and effectively when client emotions surface in the course of
       the planning relationship.

What is the desired outcome?
Financial planners and advisors who attend the Seven Stages workshop will have the opportunity to experience
the necessary insights around their own relationship with money that will allow them to truly serve their clientele
from a place of personal experience. Financial planners and advisors will also have the opportunity to develop
preliminary relationship skills necessary for working with clients in regard to the human dimension of money,
whether it is in relation to painful feelings, self-sabotaging messages, lack of vigor for plan execution, or lack of
clarity in regard to life goals.

  Date & Time: Wednesday & Thursday, September 17-18, 2008, 8:30 am to 5:30 pm
  Location:        Hilton Minneapolis/St. Paul Airport Mall of America
                   3800 American Boulevard East
                   Bloomington, MN 55425
                   Room Block Code “FPA of MN”
                   Reservations must be made by 08-19-2008 to receive the $149 per night rate
                   Phone: 952-854-2100; Lodging Reservations: 800-445-8667
  Cost:            $895 - Members; $995 - Non-members
  CFP® Credit:     9 hours of CFP® credit
  Registration:    Online through FPA MN’s store:

  For additional information:                                       OF MINNESOTA
  Kinder Institute Contact information
                                                                               The Heart of Financial Planning


                                                      Page 6
        Ethics/Government Relations Committee
     MEMBERS:           ELLEN DUBUQUE             RICHARD GLUCK           KEITH LOVELAND           ROSEMARY WARD

  Minnesota chapter lauded in most recent edition of                       Passion Statement: We want to help FPAMN members build
                                                                           and maintain a practice based on strong professionial ethics
FPA Capitol Update for the development of a resolution                     by communicating clearly in the FPAMN newsletter about
           in response to the RAND study:                                  legislative and regulatory matters and delivering an Ethics
                                                                           course that fully engages participants. We want to proactively
        Minnesota Chapter Weighs
                   Chapter Weighs                                          influence legislation that supports the mission of the FPA
                                                                           and we want to bring that to the community as a whole,
            In on RAND Study                                               through education and dissemination of information.

FPA of Minnesota has called for uniform disclosures and uniform
fiduciary standards of care for anyone holding themselves out                  Foreign Bank and Financial
as offering personal financial advice, in a resolution recently                   Accounts Reminder
approved by the chapter’s board of directors. A special group
of five chapter members recommended the resolution to the                Individual, corporate or partnership clients that have a
board following a review of the SEC’s RAND Report, which                 financial interest in or signature authority over a financial
highlighted the investor confusion and differing regulations that        account in a foreign country are required to file Form 90-
govern financial advice. “We thought it was important for the            22.1 by June 30th if the aggregate maximum value of their
chapters to be heard on an issue that’s so important to the              accounts exceeded $10,000 at any time during 2007.
profession,” said Mike Shovein, a member of the special group            Typical accounts include bank accounts, brokerage
that drafted the resolution and chair of the chapter’s Government        accounts and mutual funds. This IRS Workbook provides
Relations and Ethics Committee. “And we were pleased to be               all of the details for complying with this requirement as
able to demonstrate our support for what FPA is doing at the             well as a link to the form.
national level.” View the FPA of Minnesota Resolution.
                                                                         Since there is only about 30% compliance with this filing
                                                                         requirement, many taxpayers and their tax professionals
      Supreme Court Upholds                                              are either unaware of or ignoring the law.
      Long-Standing State Tax                                            Refer to the two attachments - Publication 4261, a one-
   Exemptions for Municipal Bonds                                        page information sheet you can provide to your clients.
                                                                         Information for Enrolled Agents and CPAs - provides
In a 7-2 ruling May 19, 2008, in a case from Kentucky, the               guidance on the due diligence requirements for filing Form
justices permitted states to exempt interest on their own bonds          90-22.1.
from taxation while taxing residents for interest on bonds issued
                                                                         Provided by Resource Program Participant:
by other states. 42 states exempt some or all interest on their
                                                                         Pat Buttweiler, IRS Field Stakeholder Liaison
bonds from income taxes, while taxing interest on bonds from
                                                                         Phone: 651-726-1597
other states.
                                                                         Understanding the Tax Gap – visit this link on

                                                               Gathering of close to 4,000 practitioners, associated professionals,
                                                               resource providers, CEOs, students, FPA members and colleagues
                                                                                     from around the globe!

  The educational program and registration form are online at Highlights of this year's annual
  conference, October 4-7 at the Boston Convention and Exhibition Center, include:
  • The opportunity to earn up to 25 continuing education credits. Continuing education is a commodity: we all need it, and it seems
    that everyone offers it... at a price. At FPA Boston 2008, you are guaranteed independently-presented cutting-edge education that
    addresses every aspect of your business needs — and carries up to 25 continuing education credits (including ethics)!
  • All your business needs under one roof. There are 11 educational tracks serving up 64 session options, as well as pre-
    conference (and one mid-conference) workshops, sponsored sessions and super sessions. There is a robust exhibit hall
    featuring 200+ resource providers. There is a Professional Development Pavilion where you can meet your human resources
    needs, leverage the staff you currently have and discover additional education and networking opportunities.
  The early-bird registration deadline is August 15, so register today and save $200!

                                                                Page 7
                                                      Attached below is a reprint of an article from Daniel
                                                      Moisand, CFP Chairman, that reviews some potentially
                                                      significant regulatory changes impacting investment
                                                      advisers and how you can support FPA efforts in
                                                      Washington through contribution to FPA-PAC.

Dear Fellow FPA Member:

With calls for reform of the financial services industry            restrictions compliance departments impose on your
heating up in Washington, financial planners are facing             attempts to be straightforward with your clients, you cannot
the possibility of enormous changes in the way financial            be enthusiastic about expanding FINRA’s authority.
advice is delivered to the public. Indeed, the threat to our
professional identity has never been greater. That is why I         Fortunately, if Treasury and the SEC ultimately want an
am going to ask for your financial support of FPA’s political       SRO for advisers and financial planners, they cannot make
action committee. But first let me give you some                    this radical decision alone. Congress is the ultimate
background on why we need your help.                                decision maker.

Right now Washington, D.C. is abuzz with talk of a self-            In order to convince Congress that this approach is ill-
regulatory organization, or SRO, taking oversight of                advised, FPA must be prepared for a fight on Capitol Hill.
investment advisers from the SEC.                                   We must continue to raise our visibility in the nation’s
                                                                    capitol. One of the most important ways to open doors
As a recent FPA member survey on this very issue                    wider in Washington is to support FPA-PAC.* FPA-PAC is
confirms, financial planners have a lot of questions about          the only political action committee representing the
an SRO for financial planners. What is the registration             professional interests of financial planners in Washington,
cost? Will it result in redundant oversight? Will it improve        D.C. FPA-PAC is an important resource in helping us open
consumer protection in a meaningful way? Who will the               doors in Congress more easily and making our case for
regulator be? Will an SRO only muddy the distinctions               professional independence.
between financial planners and others? Will there be
appropriate examination requirements?                               Whether your personal contribution is $10, $100, or even
                                                                    the maximum $5,000** per year, please give to FPA-PAC.
FPA is not as concerned with the rumor mill inside the              With your help, we can prevail. Not just in the courts in
Beltway as it is with what may be a growing view in                 FPA v. SEC, but in the halls of Congress as we work to
Washington that an SRO is inevitable. SEC Commissioner              develop sensible regulation of the financial planning
Paul Atkins was recently quoted as saying his opposition            profession. Thank you.((To contribute, please click here
to an investment adviser SRO has lessened. Separately,              or go to
a Treasury Department official, in turn, was quoted by              fpa_pac.cfm.
Investment News as saying the Financial Industry
Regulatory Authority, the old NASD, should be the SRO               Sincerely,
for investment advisors as part of its proposal to overhaul
U.S. financial regulation.                                          Daniel Moisand, CFP®
                                                                    Chairman, FPA-PAC
In addition to basic concerns about an SRO, I believe that
allowing FINRA to oversee professional advisors would be             * FPA-PAC is a political action committee. Its mission is to
a huge mistake — for a whole host of reasons — and cost             support candidates for the United States Senate and House
                                                                    of Representatives, primarily incumbents and regardless of
is only one of them. FINRA, as you may be aware, lost               political party, who have demonstrated previous support of
significant ‘market share’ as a result of FPA’s lawsuit that        issues FPA believes critical to advance the profession, or who
resulted in hundreds of thousands of brokerage accounts             could be supportive in the future. Contributions are strictly
being transferred to the Advisers Act. While FINRA has an           voluntary and you may decide not to contribute to FPA-PAC
appropriate role policing the securities markets, it seems          without fear of reprisal or disadvantage. Contributions to FPA-
to lack a fundamental understanding of financial planning           PAC must be personal, not corporate contributions and are
                                                                    not tax deductible. Contributions cannot be accepted from
and how best to protect investors. For instance, FINRA is
                                                                    foreign nationals.
on record opposing an advisory standard that places the
client’s interests first – something that is a cornerstone of       ** These amounts are only a suggestion. You may contribute
every profession. Additionally, a common trait found among          greater or lesser amounts, up to the maximum allowable by
good financial planners is open and timely communications           law. The amount you choose, or your refusal to give, will not
with their clients. If you have ever been frustrated with the       benefit or disadvantage you.

                                                                Page 8
 REGISTER                     A
                                                         SYMPOSIUM 2008
                                               Monday, October 20 - Watch for updates -
 NOW!                                  M       7:00 - 7:45 AM     Registration and Continental Breakfast
                                               7:45 - 8:00 AM     Welcome
                                       P       8:00 - 9:50 AM     Jack Surgent, Tax Planning Strategies
                                       O       9:50 - 10:20 AM    Visit Exhibits/Network
                  P                    S       9:50 - 10:20 AM    Knowledge Cafe - for students and new planners
                                       I       10:20 - 11:10 AM   Mary Ann Ehlert, Supplemental and Special Needs Trusts
                                               11:10 - 11:20 AM   Visit Exhibits/Network
                                       U       11:20 - 12:10 PM   Rick Ferri, Exchange Traded Funds
                                       M       12:10 - 1:00 PM    Lunch and Networking
                                               1:00 - 2:50 PM     Breakout: Keith Loveland & Matt Boos, Code of Ethics
      F                                        1:00 - 1:50 PM     Breakout: Kathleen Dempsey, Aging Clients: Equipping Yourself with
                                                                  Expertise - Pathfinder Care Management / Rent A DaughterTM
                                         0     1:00 - 1:50 PM     Breakout: Tom Dunck & Chad Hunt, 1031 - Triple Net Properties
                                         0     1:50 - 2:00 PM     Visit Exhibits/Network
                                         8     2:00 - 2:50 PM     Breakout: Margae Diamond & Jaclyn Schroeder, Donor-Advised Funds-Nat’l&
                           Minnesota                              Regional Perspectives - Schwab Institutional & MN Community/St. Paul Foundation
                                               2:00 - 2:50 PM     Breakout: Dan Mulvaney, The Process of Selling a Business - Mulvaney & Assoc.
        A Huge                                 2:00 - 2:50 PM     Mid-Career Development Panel
                                               2:50 - 3:10 PM     Visit Exhibits/Network,
     “THANK YOU”                               3:10 - 5:00 PM     Stuart Bear, Where There’s a Will, There’s a Relative; New Developments
 to the Sponsors & Exhibitors                                     on an Old Topic
 who generously contributed to                 4:00 - 4:10 PM     Door Prize Give-Aways
  make this program possible:                  5:00 - 6:30 PM     FPA Reception - Socializing and Networking
                                               Tuesday, October 21 - Watch for updates -
         Platinum Partners                     7:15 - 7:50 AM     Continental Breakfast/Exhibits Open
                                               7:50 - 8:00 AM     Welcome and Announcements
                                                                                                                           Don’t Delay!
         AdvisorNet Financial
Allianz Global Investors (PIMCO Funds)         8:00 - 9:20 AM     Roy Diliberto, Planning From the Inside Out             Register Today!
      Chubb Personal Insurance                 9:20 - 9:40 AM     Visit Exhibits/Network
                                               9:20 - 9:40 AM     Knowledge Cafe - for students and new planners
       Countrywide Bank, FSB                   9:40 - 11:00 AM    Courtney Pullen, Complete Client Satisfaction
       Lincoln Financial Group                 11:00 - 11:15 AM   Visit Exhibits/Network
           Mytech Partners                     11:15 - 12:05 PM   Ruth Hayden, Working Effectively with Couples to Create a Financial Partnership
   RJF - Private Client Group, Inc.            12:05 - 12:40 PM   Lunch - Nat’l Updates with Mark Johannessen, Relationships & Possibilities
          Schwab Institutional                 12:40 - 1:35 PM    Glen Salow, Top 5 Questions Planners Ask Me About Technology - Ameriprise Fin’l
           Sit Mutual Funds                    1:35 - 1:50 PM     Visit Exhibits/Network/Door Prize Give-Aways
       Van Kampen Investments                  1:50 - 2:40 PM     Doug Orton - 12 IRA Planning Mistakes to Avoid - Roadmap to Retirement
                                               2:40 - 2:50 PM     Visit Exhibits/Network
             Gold Partners                     2:50 - 4:30 PM     Financial Planning Essentials for Students and New Planners
                                               2:50 - 4:30 PM     Economist Panel: David Kelly-JP Morgan, Jerry Webman-Oppenheimer Funds,
          American Century                                        and Rick Golod - Van Kampen Investments
          Calvert Investments                  4:30 PM            Closing Remarks/Evaluations/Cert Forms
           Comer Consulting
            Focus Financial                             Targeted 12 hours of CFPTM, MN & WI Insurance Credits, and NASBA Credits
   MFS Investment Management                        Discounted Lodging Available at The Millennium, Single $125 - Hotel Registration Link
     Pathfinder Care Management
            Wasatch Funds                                Symposium 2008: Planning for Success
       William Blair & Company
                                                        October 20th - 21st, 2008 • Minneapolis Convention Center
            Silver Partners                        Name __________________________________________________
     AIM Investments • American Funds
                                                   Designations   CFP         ChFC     CLU       CPA      JD      RFC
    Ameriprise Financial • Artisan Funds
    Diamond Hill Funds • DWS Scudder               Company ____________________________ Phone _______________
  Distributor • Fintegra Financial Solutions       Address_________________________________________________
First Eagle Funds • JP Morgan • Julius Baer
   Investment Management • Laserfiche              City ________________________________ Zip _____________
Document Imaging • Legg Mason Institutional        Email ____________________________ Fax _________________
    Services • Leuthold Funds • MetLife
  Resources • Newman Long Term Care                  Check          Credit Card - Go online:
  Oppenheimer Funds • Private Bank MN
    TD Ameritrade • Woodbury Financial              Registration Rates: Take $50 Off Below Prices if Registering By July 31st
                                                    Members of Minnesota FPA: ................ $300
        Supporting Partners                                                                                         One Day Rates:
                                                    Members of Other FPA Chapters: ...... $325
        Business AdvantEdge                         Non-Members: ........................................ $375 $210 Mbrs; $255 Non-Mbrs
       MN Real Estate Foundation                           Call on Pricing for Non-Member Group Rates for 10 or more
      MN State University, Mankato                   For a refund, cancellations must be received in writing before October 3rd.
   MN Community / St. Paul Foundations
                                                      Return to FPA of MN, 3900 Main Street NE, Columbia Heights MN 55421
                                                                  Page 9
          Symposium 2008: Planning for Success
Mark your calendars now for Monday and                     Mary Anne Ehlert, Financial Planning                   Jaclyn Schroeder and Margae
Tuesday, October 20-21, Minneapolis                   for Families with Special Needs: How many              Diamond, Donor Advised Funds: National
Convention Center. This conference                    of your clients have family members with special       and Regional Perspectives: Donor-advised
features some very notable speakers, as well          needs? How many have long term care plans?             funds have become the fastest growing
as the required CFP Code of Ethics. With a            Discover benefits your clients may receive and         charitable giving vehicle among American
target of 12 credited hours, programs have            why a Special Needs Trust is important. This           philanthropists. The recent boom in popularity
been designed to comply with the principles           knowledge will benefit your clients when they          has created a unique marketplace for national
of the Certified Financial Planner Board of           need it most. A financial planner with extensive       and regional service providers. Panelists will
Standards, the NASBA/CPE credits, MN and              expertise, Mary Anne will help you understand          debate these models in a balanced presentation
WI Insurance Continuing Education.                    how to discuss special needs planning with your        that will provide a valuable philanthropic
                                                      clients, and provide advice for those seeking to       perspective for your practice.
      Rick Ferri, Indexing in the 21st Century;       specialize in the field.
How ETFs have Changed the World is an                                                                             Ruth Hayden, Donor Advised Funds:
examination into the new era of indexing that                Kathleen Dempsey, Aging Clients:
                                                                                                             National and Regional Perspectives: Ruth
has evolved with the growth of the for                Equipping Yourself with Expertise: Have
                                                                                                             L. Hayden is a nationally recognized financial
exchange-traded fund (ETF) industry. The talk         you heard that beginning in 2030, 1 in 4
                                                                                                             educator and author based in St. Paul, Minn. She
includes insights into ETFs that follow traditional   Minnesotans will be age 65+? As your clients
                                                      most trust advisor, you need to be armed with          is also the president of Ruth L. Hayden and
market indexes and ETFs that follow highly                                                                   Associates, a financial consulting business in
customized “strategy indexes” that are                tools for new challenges your clients and their
                                                      loved ones are facing. Receive expert                  its 19th year of operation. She is the author of
developed to be investment products rather than                                                              How To Turn Your Money Life Around: The
                                                      knowledge and guidance for all of us feeling a
market indicators. An overview of the debate                                                                 Money Book For Women and For Richer, Not
                                                      little “sandwiched”?
between popular fundamental index providers                                                                  Poorer: The Money Book For Couples. Her newest
and their spokespersons verses the unbiased                 Courtney Pullen, Complete Client                 book Mind Over Money: Taking Control is part of
academics that have no financial interest in the      Satisfaction: Understanding what motivates             the Lifescapes Evolution series.
success of those products. A new index                affluent clients can help advisors build their
classification system is introduced that maps the     practice and tailor their efforts to the needs of          The Power of a 1031 TIC Exchange:
universe of ETFs based on their underlying index      the affluent client. This workshop will help you       Tom Dunck, IPX Services and Chad Hunt,
rules. Finally, a look at new, actively managed       to establish and maintain a meaningful                 Grubb & Ellis Realty Investors, will explain what
ETFs that do not follow indexes. If you use ETFs      relationship with your clients-including the art of    a 1031 exchange is, the benefits, and why you
in clients’ portfolios or are considering using       really listening. The interactive workshop will        should use a TIC for a 1031 exchange.
ETFs, you cannot miss this presentation.              explore what we know about working with
                                                      affluent clients, universal principles that underlie        Keith Loveland & Matt Boos, Code of
     Glen Salow, The Top Five Questions               communicating and maintaining long term                Ethics: Living Within the New Code: The
Planners Ask Me About Technology: Glen                relationships with clients and their families.         new Code of Ethics takes effect July 1, 2008.
Salow, CIO, Ameriprise Financial, provides
                                                                                                             This all-new CFP Ethics course contains
answers to common technology challenges faced              Stuart Bear, Where There’s a Will,                interactive, interesting case scenarios and
by financial planners today. Glen will address        There’s a Relative: New Developments on
                                                                                                             practical guidelines for ethical decision-making.
issues such as using technology to enhance the        an Old Topic: This engaging presentation will
                                                                                                             The case scenarios deal with required
client experience, integrating new tools into         address many important estate planning issues
                                                                                                             disclosures, material elements of the personal
existing platforms, and getting the most for your     including useful planning strategies given the
                                                                                                             financial planning process, conflicts of interest,
technology dollar.                                    uncertainty of the estate tax law; why families
                                                                                                             suitability of recommendations, and fiduciary
                                                      fight and how to avoid arguments among
                                                                                                             obligations – especially, when they apply.
      Jack Surgent, Tax Planning Ideas and            beneficiaries; and ineligibility rules related to
Strategies for Individuals: This session will         asset transfers in connection with Medical
                                                                                                                  Economist Panel: David Kelly, Ph.D. is a
focus on the most relevant tax strategies that        Assistance and asset protection planning.
                                                                                                             Managing Director and Economic Advisor at JP
will apply in 2008. With a presidential election
right around the corner, major year-end planning            Doug Orton, 12 IRA Planning Mistakes             Morgan. He develops and communicates JP
will play an important role.                          to Avoid - Roadmap to Retirement: A seminar            Morgan’s view on the economy and markets to
                                                      that highlights the most commonly made IRA             financial advisors serving individual investors
     Roy Diliberto, Planning from the Inside          planning mistakes that can put clients’ retirement     nationwide. Dr. Jerry Webman is a Senior
Out: In this session, Roy Diliberto will              plans in jeopardy and threaten client-advisor          Investment Officer and Chief Economist for
demonstrate with actual client examples how all       relationships. This seminar covers strategies to       OppenheimerFunds. In this capacity, Dr. Webman
planning, including areas that many advisors          help overcome these mistakes and turn them into        provides strategic viewpoints on the overall
approach from the exterior (estate planning,          valuable contact and planning opportunities that       financial and economic markets to investment
educational funding, retirement withdrawal rates,     will strengthen and grow your relationships with       management and the financial advisor and
lump sum vs. pension, etc.), need to be examined      your clients.                                          investor communities. In addition, he serves as
from the interior before technical solutions are                                                             Director of Fixed Income. Richard Golod is an
offered. Specific client questions and                     Dan Mulvaney, The Process of Selling              Executive Director with Van Kampen Investments
interviewing techniques will be presented that        a Business: Learn how to advise clients on             and a member of the Van Kampen Strategy
often uncover issues that would not otherwise         properly selling their businesses. Real world          Group. He is responsible for analyzing global
be discovered if approached with traditional          examples will highlight best practices and will        financial and economic trends to develop
exterior questions.                                   delineate qualified buyers in today’s marketplace.     actionable investment ideas.
                                                                           Page 10
  THANK YOU to our 2008 Partners!
           2008 PLATINUM                                                                 GOLD PARTNERS:
                                   Daniel May • 612-347-8622

                                                                                                                       Scott Metz • 952-412-1027
                                                                               Terry Huddle • 612-730-3074
     Concetta Hall                Justin Wingate • 612-860-6111                                              
     612-373-7425                        justin.wingate@           

                                                                                 John Comer • 763-540-0711 •
                Denny Bennett, MMS/CPMS • 612-285-7300

                                                                               Chris Carlson   •   651-379-3913   •

    Jeff Pratt • 507-213-8317             Day James • 612-659-9800       
                                                                               Kathleen Dempsey • 612-729-9096 •

      Steve Benjamin   •   612-359-2554   •

                                                                                   Leslie Godfrey                       Brandon Fries
                                   Paula Kozlowski • 612-803-4121                800-343-2829 x52207                     801-533-0777
Bruce Humphrey • 763-746-8265            paula.kozlowski@                           

    Katie Cullen • 612-375-9525 •                         Sean Ryan • 312-364-5395 •

                                                   SILVER PARTNERS:
      AIM INVESTMENTS                  DWS SCUDDER DIST.                 LASERFICHE                  PRIVATE BANK MN
   Greg Prokott • 763-717-9505      Wayne Szczsponik • 630-730-5651 DOCUMENT IMAGING             Vicki Turnquist • 612-305-4221   John Toledo • 562-988-1688 x209
      AMERICAN FUNDS            FINTEGRA FIN’L SOLUTIONS                                               TD AMERITRADE
    Dan Shore • 877-421-7019     Tucker Muhrer • 763-585-0503  LEGG MASON INSTITUTIONAL                 Brett Waterfield              Brian Galvin • 410-454-3885        800-934-6124 x62060
  AMERIPRISE FINANCIAL               FIRST EAGLE FUNDS                                       
 Gary Schwartz • 952-857-1439    Lance Stephens • 800-747-2008        LEUTHOLD FUNDS Hilary Van de Streek • 612-767-1176 WOODBURY FINANCIAL
       ARTISAN FUNDS                      JP MORGAN                                                    Clayton St. George
Dan Greifenkampe • 800-454-1770    Chris Olson • 612-802-0502   NEWMAN LONG TERM CARE                     651-739-6861      Deb Newman • 952-888-3777           clayton.stgeorge@
    DIAMOND HILL FUNDS                                        
                                 JULIUS BAER INVESTMENT
 Tammi Gourley • 614-255-3349       Jeff Hensal • 212-297-3958
                                                                    FPA MN: Exposure in all the right places.
                                                                     Page 11
         The Heart of Financial Planning

          3900 Main Street NE
          Minneapolis, MN 55421
          Voicemail: (612) 706-3060
          Direct: (763) 781-1212

    In our interaction with one another, we are
     committed to honesty, integrity, and open
   communication. Through the spirit of service,
  we foster stewardship and the development of
      recognized knowledge and competence.

                                                2008 CALENDAR
             June 17 – Employers and Health                                 September 17-18 – 2-day workshop
         Care Reform: The New Challenges                                          Seven Stages of Money Maturity
  of 2008, 7:30 am, GVCC: Presenter Greg Dattilo                                  Hilton Minneapolis in Bloomington
  will provide a unique and informed insight into both national
  and state health care reform efforts and how they affect            November 18 – Identifying Undervalued and
  employers and agents. Drawn from the two books he co-               Overvalued Stock Markets, 7:30 am, GVCC:
  authored with Dave Racer, and ongoing intensive research,         Steven Leuthold is founder & Chief Investment Officer of The
  Dattilo presents the most up to date, agents' perspective of      Leuthold Group, LLC, an investment management and institutional
  how health reform is attempting to change the market - for        research firm. Steve and the portfolio management/analyst team
  better or worse.                                                  employ quantitative historical research to develop sophisti-cated
                                                                    models which drive the investment management decisions.
     July 15 – Foreign Markets with Scott
    Anderson from Wells Fargo Bank, N.A.,                              December 16 – The Financial Wisdom of
  2:30 pm, GVCC: Scott Anderson holds a doctorate in                    Ebenezer Scrooge: Transforming your
  economics with an emphasis in monetary theory and                   Client’s Relationship with Money, 11:30 am,
  international trade and finance from George Washington                                 GVCC
  University. He is responsible for analysis and forecasting                   with Presenters Rick Kahler and P. Ted Klontz
  of international, national and regional economic trends. His      Ebenezer Scrooge would seem an unlikely source from which
  areas of focus include macroeconomic and interest rate            financial planners could glean wisdom on how to facilitate change
  forecasting, financial markets, and international economics.      in their clients. However, Dickens' classic tale of how Scrooge
                                                                    left behind his broken relationship with money and transformed
  August 18 – Golf & Bocce Ball Tournament                          into a joyful, compassionate and generous man is a powerful
         Majestic Oaks Golf Course                                  model planners can benefit from today. Come join Klontz and
                                                                    Kahler in an enlightening presentation on how you too can
                                                                    transform the role of money in your clients' lives.
        September 16 – Life Planning with
         George Kinder, 7:30 am, GVCC:                                       Allied Event – FPA of Illinois
  Internationally recognized as the father of the Life Planning
                                                                         Annual Financial Forum - June 16, 2008
  movement, the Harvard-educated Kinder is the Founder of
                                                                    FPA of Illinois is holding their annual Financial Forum on June
  the Kinder Institute of Life Planning. He has been a practicing
  financial planner and tax advisor for nearly 30 years and         16th at Drury Lane Oak Brook. Keynote speakers include Dr.
  will speak on how to bring your practice alive, by delivering     Burton Malkiel, David Hightower, and Tracy Beckes. Early bird
  transformational experiences to your clients as part and          deadline is May 10th. Information and details can be found at
  parcel of the financial planning process.               ; 847-244-3691.

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