Annual Fall Symposium
October 24, 2019
7:30 am - 4:45 pm
Corporate College East
REGISTRATION FEES
Members: $195
Non Members: $245
Full time Students: $75
CONTINUING EDUCATION
FPA NEO has received approval to provide credit for these programs, which will total five hours of CE from the CFP® Board of Standards for CFP® designation holders with the opportunity for two ethics credits. FPA NEO has also received approval to provide credit for up to four hours of CE from the Ohio Department of Insurance (credit depends on which programs you attend) with the opportunity for three ethics credits. A general certificate of completion and one for CPA designees who feel the programs satisfy their continuing education requirements will also be available.
SCHEDULE
7:30 – 8:30 AM: Breakfast
8:30 – 8:45 AM: Announcements and Partner Introduction
8:45 – 9:35 AM: Concurrent Sessions
Candura 1: “Boom or Bust: Aging in America”
Dan Candura, CFP
About the program: The course will use case studies and interactive polling to help participants understand aging in America and the financial exploitation of seniors and other vulnerable adults.
About the Speaker: Dan Candura, CFP® is the founder of Candura Group, LLC and provides ethics training across the United States, Canada, Europe and Australia through in-person courses and webinars. As President of PennyTree Advisers. LLC, Dan provides personal financial planning for consumers and litigation support for attorneys. Dan taught financial planning, insurance planning and retirement planning in the Sawyer School of Business at Suffolk University in Boston and is also a CFP® Ambassador for the Boston area.
Dan appeared as a featured expert on the PBS documentary Retirement Revolution. He has been profiled in The Journal of Financial Planning, and quoted in numerous publications. He wrote a monthly column for Investment News concerning ethical issues for advisors. Dan served on the Board of Directors of The Certified Financial Planner Board of Standards, Inc. and is a past Chair of the Board of Professional Review. He is a member of the Financial Planning Association and a NAPFA registered financial planner.
Breakout #1: “The Minds and Habits of Millionaires”
Steve Benjamin, CEBS, CRPC, Sit Mutual Funds
About the program: Many people think that their only chance at becoming rich is by playing the lottery when, in fact, we know there are other ways to become wealthy that have better odds. Just ask the retired school bus driver who built a portfolio worth $3 million. At this seminar, we’ll explore some common habits and thought processes that individuals developed that helped them become millionaires.
About the speaker: Steve is the Manager of Investment Advisory Services for Sit Mutual Funds. He works with individuals who are preparing for retirement and also retirees to set up investment programs and withdrawal strategies. He also works with financial advisors, 401(k) plan participants and retirement plan administrators. Steve is a graduate of Hamline University and is Series 7 licensed. Before joining Sit Mutual Funds in 1997, Steve worked in retirement plan administration, marketing and sales at Ameriprise for 9 years and Securian for 1 year. Over the years, he has spoken to a number of groups on a variety of topics.
9:35 – 10:05 AM: Break with Exhibitors
10:05 – 10:55 AM: GENERAL SESSION
“Guide to the Markets”
David Lebovitz
About the speaker: David M. Lebovitz, Executive Director, is a Global Market Strategist on the J.P. Morgan Asset Management Global Market Insights Strategy Team. In this role, David is responsible for delivering timely market and economic insights to clients across the country. David helped build the Market Insights program in the United Kingdom and Europe, has appeared on both Bloomberg TV and CNBC, and is often quoted in the financial press.
David first joined J.P. Morgan in 2010. Prior to joining the firm, he was a Research Analyst at Kobren Insight Management.
David obtained a B.A. in Political Science and Philosophy, with a concentration in Leadership Studies, from Williams College in 2009. He earned a dual-MBA degree from Columbia University and London Business School in 2015.
10:55 – 11:15 AM: Break with Exhibitors
11:15 AM – 12:05 PM: GENERAL SESSION
“Advanced Roth Conversion Strategies”
Michael Kitces
About the program: Since 2010, anyone is permitted to do a Roth conversion of a traditional IRA or 401(k), regardless of income. However, in the end it’s best to pay your taxes when your rates are the lowest… which means just because you can do a Roth conversion at higher income levels, doesn’t mean you should – especially not all at once. In this session, we explore various strategies to maximize the value of a Roth conversion, from doing backdoor Roth contributions, to systematic partial Roth conversions, Roth barbell strategies to manage the timing of a Roth conversion, and more!
About the speaker: Michael E. Kitces, is a partner and the Director of Wealth Management for Pinnacle Advisory Group, a private wealth management firm located in Columbia, Maryland that oversees more than $2.0 billion of client assets.
In addition, he is a co-founder of the XY Planning Network, AdvicePay, and New Planner Recruiting, the former Practitioner Editor of the Journal of Financial Planning, the host of the Financial Advisor Success podcast, and the publisher of the popular financial planning continuing education blog Nerd’s Eye View through his website www.Kitces.com, all dedicated to advancing knowledge in financial planning.
12:05 – 1:30 PM: Lunch including presentation of the FPA Northeast Ohio 2019 Lifetime Achievement Award
1:30 – 2:20 PM: GENERAL SESSION
“Five Industry Trends Reshaping Financial Advice”
Michael Kitces
About the program: The recent rise of the “robo-advisor” has called into question the relevance of financial advisors and the viability of current advisory business models. Yet the reality is that technology “disrupting” financial advisor business models isn’t new, and has actually happened repeatedly over the past several decades… forcing advisors to adapt and move up the value chain, or be left behind. In this session, we look at how technology is once again driving major changes in the business model of financial advisors, driving a Great Convergence across historically-separate industry channels, triggering a Crisis of Differentiation, a Search for New Business Models, and rising pressure on improving the Client Experience. And in the coming years, these trends will only be accelerated, as the consumers of financial planning – and financial planners themselves – shift from Baby Boomers, to the Gen X and Millennial generations that, as “digital natives”, will expect and demand advisors to both leverage technology, and add value on top!
2:20 – 2:50 PM: Break with Exhibitors
2:50 – 4:40 PM: Concurrent Sessions
Candura 2 (2:50 – 4:40 PM): “CFP Ethics: New Standards for a Fiduciary World”
Dan Candura, CFP®
About the program: Attendees participate in an informative and engaging session that teaches the learning objectives required by CFP Board for ethics training.
- Identify the structure and content of the revised Code and Standards, including significant
changes and how the changes affect CFP® professionals. - Act in accordance with CFP Board’s fiduciary duty.
- Apply the Practice Standards when providing Financial Planning.
- Recognize situations when specific information must be provided to a client.
- Recognize and avoid, or fully disclose and manage Material Conflicts of Interest.
Breakout #2 (2:50 – 3:40 PM): “Integrating Home Equity into Retirement Strategies: Legal, Tax, & Financial implications & Opportunities”
Hank Sanders, American Advisors Group
About the program: This workshop is designed to provide a more advanced look at tools and strategies that advisors, fiduciaries, attorneys, and tax professionals may wish to incorporate into their planning for clients in, or approaching retirement age. With the rapid increase in the number of retirees and the significance of wealth in home equity, professional advisors may have a responsibility to understand how housing wealth fits into their clients’ comprehensive plan in order to serve in the best interest of the client. This workshop will specifically address research & math revealing that the Home Equity Conversion Mortgage is no longer a product of last resort, but rather a meaningful strategic tool to address retirement needs and risk mitigation for mass affluent families.
About the speaker: Hank Sanders began his career in financial services in 1986 with the Merrill Lynch, Pierce, Fenner & Smith Financial Consultant training program. On Monday, October 19, 1987, just over one year into his career, Hank watched as the Dow dropped by over 22%, wiping out over $500 billion in value in a single day. Black Monday reset the entire industry’s perspective of investment risk and had a tremendous impact on Hank’s approach to serving his clients.
For Hank, no longer could he focus on transactional relationships or simply selling products for the benefit of his firm. Although it was unpopular at the time, from that point forward, it became clear that he needed to redefine his business, taking a comprehensive approach to client situations – their dreams, their fears, and their expectations. In the coming years, Hank built a practice with a commitment to holistic financial planning and putting the clients’ best interest first, a philosophy that he has found tremendously rewarding for both himself, and the families he has served.
Over the past several years, observing that there was a significant gap in many people’s savings relative to their retirement expectations, Hank began to expand his understanding on how to include real estate and home equity into his financial strategies. When he was approached by American Advisors Group to join the team that will be sharing this message and educating the industry on the strategic use of equity in a retirement income strategy, Hank knew he could make a far greater impact on the industry and potentially thousands of lives. Today, as a Strategic Business Specialist for AAG, Hank specializes in educating, supporting, and developing relationships with financial advisors.
Breakout Session #3 (3:50 – 4:40 PM): “How an Advisor Adds Value through Behavioral Coaching”
Christopher Cavanaugh, Vanguard
About the program: This presentation will provide details on Vanguard Advisor’s Alpha, behavioral coaching. The discussion will, explain the mistakes that investors—including advisors—often make, define behavioral coaching and explain how it can build your business, and discuss Vanguard’s three P’s of behavioral coaching.
About the speaker: Chris Cavanagh is a sales executive with The Vanguard Group managing their Registered Investment Advisor relationships throughout the Midwest. Prior to joining Vanguard in 2011, Chris was a vice president with Goldman Sachs and also spent time working with Alliance Bernstein and Merrill Lynch. He has over 25 years of industry experience and holds the Series 7 and 63 licenses, and attained the CIMA designation in 2007. Chris grew up near Vanguard’s headquarters in PA and earned a bachelor’s degree in Business from Franklin & Marshall College. He now resides in Westerville, Ohio.
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