December 2010 Newsletter - Financial Planning Association

The Planner
December 2010
The FPA of Long Island Presents its December Monthly Program Meeting
A Day in the Life of a Portfolio Manager
Come join Tim Krochuk on December 15th from 5:30 PM-8:30 PM for an
entertaining and educational presentation!
Tim Krochuk‘s presentation will focus on how the team that he works with
identifies compelling investments. The first goal of this presentation is to outline the
skills that are common among managers, referred to as the mental toolbox for portfolio management. Next the presentation will take a more detailed and academic turn,
looking at management styles, their specific investment strategies and tools used.
Some time will be spent on how long/short investing changes the philosophy and process of a manager. By the end of these four sections, a solid foundation should be in
place for what we consider to be necessary for effective active management. This
presentation will also include a review of 2008 with a look at the lessons to be learned
from this painful year and some strategies to survive the next time around. This will
be followed by a look at the problems of the present day. He will also address what
Planners need to know! The presentation will end with a summary of key points and
move to Q&A.
About Tim Krochuk…
Timothy A. Krochuk is the Chief Operating Officer for GRT Capital Partners,
and a portfolio manager for long-only, long/short and quantitative strategies within the
firm. Tim has been involved with investment research and management since 1991.
From 1996 to 2001, he was the portfolio manager of the Fidelity TechnoQuant
Growth Funds which had approximately $100 million in assets, and from 2000 to 2001
of Fidelity Small Cap Selector Fund which had approximately $1 billion in assets. Tim is
best known for his ―Techno-Quantitative‖ style of investing. This blend of technical and
quantitative techniques appeals to the institutional side of money management.
From 1994 to 1996, Tim served as an analyst and from 1992 to 1994 he served
as an associate at Fidelity Investments. In these roles, he used advanced quantitative
techniques to study a variety of industries. Tim was responsible for the development,
programming and implementation of investment models used in managing over $20
billion in public mutual funds. He is an experienced programmer and systems administrator.
Tim holds an AB in economics from Harvard College (‘92). While at Harvard, he
was also the President of TAK Programming Group Inc., a systems integration firm.
Tim holds an Advanced Professional Director Certification from the Corporate Directors Group, a national education and public company director credentialing organization. He is currently a director on the board of the President‘s Council at the Massachusetts General Hospital. Tim is also a licensed pilot and a CFA charterholder.
Thanks to our December Partners: LINCOLN FINANCIAL and HARTFORD
Inside this issue:
December Meeting
Announcement...……....1
2010 Board………….....2
Tax Update Seminar
Announcement................2
Program Reviews............3
Membership Items.......4-5
Symposium &
Exhibition..................6 & 7
Pro Bono Program..........8
Focus Groups...................8
Fee Advisor Group.........8
Week-end Corner..........9
Howard Black Award
Nomination Form.........10
TSM Consulting Inc......11
Upcoming Meetings......12
Page 2
Year 2010:
Board of Directors
Chairperson
Michael D. Kresh, CLU, CFP®, 631-232-9170
MD Kresh Financial Services, Inc.
mkresh@gmail.com
President
Moss Kaufman, CFP® , EA, 631-366-1999
Network Capital Services, Inc.
ncs811@yahoo.com
President Elect / Secretary
Alan M. Borko, CFP® , 631-589-5400 x 319
Forest Hills Financial Group, Inc.
alan_borko@fhfg.com
Treasurer
Robert Zerah, CPA, PFS, CFP®, 516-735-4717
Zerah & Company; rob@zerahco.com
Directors
Membership:
Paul Schifter, CFP®, 631-366-1999
PCS Financial Planning; paul@newbrookins.com
& Scott Sanders , CPA, PFS, CFP®,
516-938-5219—Wealth Advisors, Ltd
ssanders@st-cpas.com
Programs: Anthony F. Papa, CFP®
516-536-4436, afpapa@ae,cadaretgrant.com
Papa/Englehart Strategic Planning Assoc.
Symposium:
Joseph W. Fleischman, CFP® , 631-845-5100
Vanderbilt Financial Group
jfleischman@vanderbiltsecurities.com
& Sandy Joel Siff, CFP®, Ph.D., 516-671-1099
Halliday Financial Group;
ssiff@halidayfinancial.com
Strategic Partners:
Thomasina Michalik, CFP® , 516-650-3374
TSM Consulting; tsmconsulting4@aol.com
Journal/Directory:
James Graziano, CFP® , 631-656-8884
jgraziano@northridgesecurities.com
Public Awareness, Public Relations &
Communications: Michael Baras , CFP®
516-481-0994; fpalongisland@gmail.com
Pro Bono: Richard L. Bergen, CPA, CFP®
516-741-1430—RLB Wealth Planning, Inc.
Rich@RLBwealthplan.com
Ethics: Raymond D. Mignone, CFP® ,
718-229-2514—Ray Mignone & Co., Inc.
ray@raymignone.com
Fee Advisor Group:
Andrew Rich, CFP® , 516-433-0828
Rich Advisory Corp; richadv@optonline.net
Focus Groups:
Craig Marcott, CFP® , 631-286-1061
Craig Marcott Inc.; cmarcott@optonline.net
Legal Counsel: Diane Wilkie, Esq., CFP®
516-564-8301; Wilkie & Wilkie
dwilkie@wilkielaw.com
Newsletter Editor
Michelle Buonincontri, CFP®
FOAL Planning Inc.., FoalPlanning@gmail.com
Tax Update Seminar
Friday, January 7, 2011; 8:30 AM - 2:30 PM
Carlyle on the Green, Bethpage State Park, Farmingdale, NY
Tuition Includes: 5 CFP® and/or CPA Continuing Education Credits,
A delicious full breakfast from 8:30 AM to 9:00 AM,
Lunch and Networking Opportunities!
Agenda to Include
► Federal and New York State Tax Updates
Presentation by Steven Greenberg, CPA
This tax update will visit some of the many significant tax law changes that have been enacted in
the past 12 months affecting 2010 tax return preparation for individuals and small businesses.
This year‘s session will also address the inherited basis for decedents dying in 2010; some of
the tax changes included in the Patient Protection and Affordable Tax Care Act of 2010; Small
Business Jobs Act of 2010; New PTIN rules; and New York State issues.
► The Facts and Tax Treatment of Qualified Long Term Care Insurance
Presentation by Natalie Karp, MBA, CLTC and Rona Loshak, MBA, CLTC
Your client‘s awareness of long term care insurance as an important component of their retirement planning will require your counsel. Are you comfortable with advising them? Learn the
facts including: tax and estate advantages, state and federal incentives, business deductions, age
to purchase, plan design, case studies, self insure misnomer, NYS Partnership, financing options.
Specifically we will cover tax treatment of qualified long term care insurance which will address
the individual and business model, gift tax, Health Savings Accounts, tax advantages for business
owners, high net worth clients, and will include case studies.
► Responding to changes in the Estate Tax Landscape:
Where We are Now & Where We are Going
Presentation by Jack F. Elder, J.D., LL.M.
The estate tax ….. currently there are more questions than answers. However, absent new
Congressional action, the Federal Estate Tax is scheduled to roar back with a vengeance! The
Federal estate (and generation-skipping transfer) tax exemption is scheduled to drop to
$1,000,000 with a maximum rate of 55%, the gift tax rate is scheduled to jump from 35% in
2010 to 55% in 2011. Will the lame duck Congress pass legislation that prevents these dramatic tax increases? If not, can and will a Congress facing serious deadlock pass new laws addressing these issues in 2011? What does this uncertainty mean to you and your clients? Jack
Elder, J.D., LL.M., will talk about the state of the estate tax, and, hopefully, provide some clarity
about where we are now and where we are going.
► IRS Examinations: They Can Happen to Anybody
Presentation by Eric Betz
The presentation will include the classification process utilized to bring a return from filing to
the field for an examination. Mr. Betz will give a brief overview of the purely random audits
that are part of the National Research Project (NRP); and he will also go over what to expect
once an examination begins, what the taxpayers rights are, and what steps can be taken to help
the exam proceed smoothly.
Be sure to sign up today!
A registration form can be found on calendar
section of web page: www.fpali.org
Program Generously Sponsored by
ALLIANZ, Represented by Lorraine Lods
Booth Sponsors: FIRST TRUST, PRUDENTIAL ANNUITIES and VANGUARD FUNDING
Page 3
You spoke and we heard
The Monthly program meetings have a „new format‟. Join us from 5:30pm-6:00pm,
at the start of each session, for a half hour of networking. Use this time to get to meet our
Board members, partner with suppliers and build relationships with your colleagues.
Recap of our September Monthly Program Meeting
On Wednesday, 9/22, we had a great presentation regarding college financial aid planning. The
speaker was Andy Lockwood, a college planning specialist from Plainview. Andy discussed, several topics as
they related to financing college costs, and how to leverage financial aid to get the largest grants and most cost
effective subsidized loans. He covered topics ranging from how to save dollars, how to title assets, as well as
what investment vehicles and assets would and wouldn't be included when filing for financial aid.
While the cost of tuition went up only 4% this year, historically it has increased by an average of 7%
per year, Tuition is not the only cost of college. Andy stated that it only makes up approximately 70% of the
cost, excluding other costs such as room and board, food, spending money, and personal care; haircuts clothes
etc. Another interesting factor mentioned, was that it is 40% more likely that a child will graduate within 4
years if attending a private institution than if the child attends a state school. The point of the statement is that
while state school tuition is lower, if they attend for 5-6 years to complete their degree what is the total cost
of education? Would it have been more cost effective to go to a private school? Lastly, the presenter covered
the dos and don'ts of completing the FAFSA form for financial aid. This is a critical element in receiving aid, and
Andy indicated that the first year of aid will usually dictate how the next years aid will be assessed.
- Larry Sangirardi, CFP®, ChFC®
Recap of our Meeting for CFP® Ethics Credits
We held our annual Ethics Program on October 6, 2010, at the Crest Hollow Country Club. The
Ethics Workshop was presented by Linda Gadowski, CFP® from Beacon Hill Financial Educators. Linda had
successfully presented our Ethics program last year and also few years back. Linda presented a great program
again this year.
We had 94 attendees and received back 64 course evaluations and the net result was most everyone
thought the program was well done. We do review all evaluations turned in. In response to the question,
What aspect of the course did you like most? Some responses were: good interaction with the group, kept her
sense of humor/focus, and good participation with the audience.
There are many options for CFPs to obtain the required Ethics credit but most people prefer to
attend a live seminar. I would like to thank Janet for all of her hard work in handling the details that help make
the ethics program a success.
We expect to have an interesting speaker for next year's program, thank you for supporting the
chapter.
- Ray Mignone, CFP® Director of Ethics
Recap of our November Monthly Program Meeting
The November Program‘s meeting was held on Wednesday, November 10th. This month‘s meeting
featured an interesting and informative discussion on our economy here on Long Island. Our speakers were
Dr. Pearl Kamer Ph.D. & Dr. Robert Lipp Ph.D.; what the recovery will look like, and the overall Long Island
economic review were covered respectively.
The discussion dealt with how the National Economy is influencing the economy of Long Island, and
how we are impacted by various components of our economy. The economic factors reviewed were: unemployment, inflation, value of the dollar, foreclosures and business strength. Additionally, they addressed the
issues of foreclosures in Nassau and Suffolk County, and its impact on housing prices, how savings rates have
increased due to a less job security, the increased rate of unemployment and the critical need for people to
get their financial houses in order.
Dr. Kamer discussed the impact of inflation, and how in our current situation, the low levels of inflation could, in some cases, make it more difficult for the government to develop strategies to drive inflation
upward. Dr. Lipp discussed commercial real estate vacancies, the impact that this situation could have on Long
Island‘s overall health and the employment rates of businesses in LI.
The National Economy is influencing our local economy, and the speakers did a great job in explaining
where we are and what a recovery looks like on LI. Thank you to them both.
- Larry Sangirardi, CFP®, ChFC®
Page 4
THE FPA LONG ISLAND SPOT LIGHT ON
The Planner
Paul M Schifter, CFP®
FPA Committee Chair of Membership
Celebrating 32 years in financial services, doing business independently as PCS FINANCIAL
PLANNING, CFP certificant since 1998, fee only and commissioned business. Paul is a Registered
representative of Investacorp Inc., Affiliated Investment Adviser of Investacorp Advisory Services, and
licensed for life, health, annuities, property and casualty insurance, by licensed individuals offered
through Investacorp Inc. A Registered Broker/Dealer Member FINRA/SIPC. His office is located on
Veterans Highway in Hauppauge.
Paul has been an active member FPA of Long Island and currently serves on the FPA Board of Directors as co-chair of its
Membership Committee. Additionally, Paul has served as Trustee of Temple Beth Chai of Hauppauge for twenty one years. He is
married for 37 years, and has two children and four grandchildren. Securities by licensed individuals offered through Investacorp
Inc. A Registered Broker/Dealer Member FINRA/SIPC.
The annual Long Island Tax Professionals Symposium (new name) was held this year on
November 17th, 18th and 19th at the Crest Hollow Country Club in Woodbury. The symposium
had over 50 tax related sessions. The FPA involvement increases each year we attend this event
& our recognition continues to grow, which translates to opportunities for the FPA LI and its members.
This year the Financial Planning Association, Long Island Chapter had six presentations.
Special thanks to the following speakers:
(1) Carl Frederich (Both sides of College Financial Planning),
(2) Jeff London and Diane Wilke (Survivor planning; a guide to the before, during and after shock
due to a death in the family),
(3) Joe Hatzfeld, Dan Limmer, Roger Ciacco, Steve Rosenberg, John Baldi and
Moss Kaufman as moderator (Playing Well together – the collaboration of accountants financial planners),
(4) John Caffrey and Ryan Lampkin (Volatility, Risk and the Client, Investing with ETF’s),
(5) Rich Bergen and Anthony Papa (Retirement income planning for today and tomorrow),
(6) Michael Kresh, (Alternative Investment)
Additionally, thanks to our FPA chapter members that were there manning our booth and explaining what we do for clients, as well as how the FPA promotes the Financial Planning profession: Sarah Aguirre, John Patsy, John Baldi, John Trotta,
JoAnn Semeraro, Bonnie Baval-Kresin, Paul Schifter, Elke Marriotti, Michael Baras, Diana Stanis, James Graziano,
I would like to express special thanks to Moss Kaufman and Paul Schifter in making this event a positive experience for the FPA. I
would encourage you to contact me to get involved with the tax symposium committee and make a difference.
- John Baldi, CPA, MBA
Page 5
Welcome New Members
Happy Anniversary!
August through November 2010
Congratulations to the following FPA Long Island Chapter
members who are celebrating significant
FPA anniversaries in September-December 2010
SARAH A. AGUIRRE
Marsh USA, Inc., Melville, NY
Members for 30 Years
Barry Richter, CFP®, Garden City, NY
LEE FLEISIG
Ameriprise Financial, Stony Brook, NY
Members for 25 Years
Jeffrey Eisman, CFP®, EA, Plainview, NY
James Graziano, CFP®, Nesconset, NY
JOHN LUNDGREN
Forest Hills, NY
Members for 20 Years
Michael D. Kresh, CFP®, Islandia, NY
Roberta S. Palmer, CFP®, Huntington Bay, NY
STEPHANIE GABRIS
Brooklyn, NY
NEIL GUARNIERE
Seaford, NY
Members for 15 Years
Michael B. Anzel, Esq., CFP®, Port Washington, NY
Gerald Berger, Deer Park, NY
Jeffrey M. Coffey, CFP®, Mineola, NY
Thomas R. Connelly, CFO®, CFA
Charles E. Crystal, CFP®, Port Washington, NY
William J. Olvany, Jr., CFP®, Huntington Station, NY
Richard Punturo, CPA, CFP®, Melville, NY
Jerry Rizza, CFP®, Melville, NY
LORETTA HENRY
Port Jefferson, NY
MELISSA JEANTY
Brooklyn, NY
L. MARIE MOSELY
St. Albans, NY
JOHN PATAFIO
The Law Offices of John T. Patafio, PC
Amityville, NY
LUIS RODRIGUEZ
Platinum Select Mortgage Corp.
Freeport, NY
Members for 10 Years
Mike Berman, CFP®, Brooklyn, NY
Salvatore F DiLeo, CFP®, ChFC, CLU, REBC, Hauppauge, NY
Rita Medaglio-Barrera, CDFA, CSA, Melville, NY
James A. Morcerf, CFP®, CLU, ChFC, Northport, NY
John Panaro, CFP®, CLU, ChFC, Syosset, NY
Jonathan A. Wolfsohn, CFP®, Lynbrook, NY
ARY ROSENBAUM
The Rosenbaum Law Firm P.C.
Garden City, NY
SOFIA E. TZEMIS, CFP®
Merrill Lynch, Garden City, NY
Members for 5 Years
Joseph R. Brida, CFP®, ChFC, CLTC, Melville, NY
S. Joseph DiSalvo, ChFFC, Smithtown, NY
Michael Iglio, CFP®, Franklin Square, NY
Anthony T. Isola, Stony Brook, NY
Jean F. Larkin, Woodcliff Lake, NJ
Patrick S. Murray, West Babylon, NY
Mark S. Rosman, CPA, CFP®, Lynbrook, NY
Nagendra K. Singh, CFP®, EA, Riverhead, NY
FPA New Member Breakfast
Our ‘New Member Breakfast‘ was held on
November 9th at the Sweet Hollow Diner in Melville, and it
was a great success! Over 16 FPA members attended; Board members, Committee persons, as well as our current president Moss Kauffman
and president-elect Alan Borko were also in attendance.
Joe Fleischman, Chairman of the Symposium Committee, and Tony
Papa, Chairman of the Program‘s committee spoke to the group about ways
to become more involved in our chapter activities.
Our Membership Committee plans to hold such events twice a
year for our new members, so look for upcoming announcements! This is a
great way to meet our board, and get to know your colleagues in a smaller
setting.
Additionally, our Membership Committee has a table set-up at
each monthly Program meeting. To get involved with the New Member
event, to volunteer at their table, or to find out more information on how
you can help grow our chapter membership, please contact Paul Schifter
(631-366-1999 or paul@newbrookins.com) or Scott Sanders (516-9385219 orssanders@st-cpas.com).
The Heart of
Financial
Planning:
Being the community that brings
together those who deliver financial
planning, those who support it
and those who benefit from it.
Page 6
Thank You from the Symposium Chair
I want to take this opportunity to thank all of the members who served on the
Symposium Committee this year, as well as all of the chapter members who volunteered and
assisted at this year‘s Symposium. I appreciate your continued support and want to thank you
for your efforts on behalf of myself, the FPA board-of-directors, and a grateful Chapter.
Symposium 2010 was a success largely due to the following individuals dedication and
desire to serve : Tommie Michalik, Tony Papa, Alan Borko, Craig Marcott, Craig Ferrantino,
Diane Wilkie, Jack Chite, Jim Graziano, Michael Baras, Moss J. Kaufman, Ray Mignone, Sandy J.
Siff, Herb Barnes, John Baldi, Paul Schifter, Richard Bergen, Richard Seeger, Michelle Hall, Sarah
Aguirre, John Doran, Don Acquaviva, Patricia Calcado, Clifton Callahan, Kevin Cantwell,
Joseph Chiavetta, Art Dolega, Barry Eckstein, Paula Gullo, Marge Haemer, Robert Kennedy,
Tom Laundrie, Gary Lofgren, Eric Neuwirth, Peter Palion, Roberta Palmer, David Rothfeld,
Joann Semeraro, and last but certainly not least, our chapter administrator Janet Cino.
Thank you to all our speakers: Robert L. Goldfarb, CFP®, CPA, PFS, Schoenfeld
Mendelsohn Goldfarb LLP; Jerry A. Webman, Ph.D., CFA, Chief Economist, OppenheimerFunds, Inc.; David R. Okrent, CPA, Esq., Law Offices of David R. Okrent; David Baram, Baram
& Kaiser; Eric M. Kramer, Esq., Farrell Fritz, P.C.; Vincent J. Russo, J.D., LL.M., CELA, Vincent J.
Russo & Associates; Brian Laux, InvescoPower Shares; Gary Victorson, CLU, Victorson Associates, Inc.; Michael E. McDermott, Farrell Fritz, P.C.; Evan Cooper; Deputy Editor, Investment
News; Stephen J. Shorrock, LifeVentures Corp.; and John Doran, Hartford Life.
Joseph Fleischman, CFP® - Director of Symposium
631-845-5100 (x3822) jfleischman@vanderbiltsecurities.com
Congratulations to Ed Mockler!
Congratulations to Ed Mockler, the winner of our Luncheon Raffle! All registrants who signed up
for symposium by October 15th were entered into this raffle and the prize is a free week-end
stay for two at a Marriott Hotel, Resort or Suite. We hold this contest every year so be sure to
register early and be included in next year‘s raffle!
Symposium & Exhibition 2011– Come Join in the Planning
In late November the Symposium committee met at the Embassy Diner in Bethpage and
had a lively discussion of what we liked about the 2010 Symposium & Exhibition and how we can
make the 2011 Symposium & Exhibition even better. The response was great, there were over
20 FPA members who attended this pre-planning, brainstorming session, and the suggestions and
ideas were great! Thanks to all that attended.
The committee met again on December 7th to begin to set the agenda for the day.
Ideas and suggestions were made for the topics that should be covered, suggestions of speakers
who could cover the areas, etc. Anyone who would like to get more involved with the planning
of this event should get in touch with Joe Fleischman. Or maybe you would like to share a suggestion with us about a certain topic you would like to hear more about or maybe you know
someone who would be a great speaker for our event; please let us know! In an effort to make
the 2011 event even more successful, all constructive comments and suggestions are welcome.
Joe can be reached at 631-845-5100 (x3822) or jfleischman@vanderbiltsecurities.com.
We hope to hear from you!
- Joseph Fleischman, CFP® - Director of Symposium
Page 7
Many Thanks to our 2010 - 2011 Partners
Platinum Level Partners
Allianz Life Financial Services
Lorraine Lods, 516-510-4350
Lorraine.Lods@allianzlife.com
Jackson National
Steve Burke, 516-297-4620
stephen.burke@jackson.com
First Trust
Brian Taylor, 917-213-1688
btaylor@ftportfolios.com
& Tom Evans, tomaevans@ftportfolios.com
Nationwide
Susan O‘Connor, 516-532-1170
oconnos3@nationwide.com
Hartford
Brian Taggart, 917-710-7952
brian.taggart@planco.com
& Christopher Hawn, 610-247-6365
chris.hawn@thehartfordfunds.com
Invesco
Anthony Camilleri, 631-838-4887
anthony.camilleri@invesco.com
New York Long Term Care Brokers, Ltd.
Kevin Johnson, 518-688-8101
KJohnson@nyltcb.com
Oppenheimer Funds
Wendy Ehrlich, 516-318-1418
wehrlich@oppenheimerfunds.com
Prudential Annuities
Carrie Short, 516-521-4673
carrie.short@prudential.com
Gold Level Partners
ING Financial Solutions
James R. Gilbarty, 551-482-7880
James.Gilbarty@us.ing.com
Marsh
Michelle Hall, 631-425-3261
Michelle.K.Hall@marsh.com
MoneyGuidePro
Connor Thomas, 800-819-2347
connor@moneyguidepro.com
SEI
Steve Gardner, 610-676-1931
sgardner@seic.com
Vanguard Funding
Melissa Jedlicka, 516-450-3222
mjedlicka@vanguardfunding.net
Silver Level Partners
Access Brokerage Services
Agent Support Group /
Prudential
Algren Associates, Inc. /
MetLife
Allianz Global Investors
American Funds
Ameriprise Financial
AXA Equitable
Charles Schwab
Advisor Services
Columbia Funds
CPS EA Insurance Services
Crump Insurance
Direxion Funds
Fidelity Investments
Forest Hills Financial Group
Genworth Financial
Guardian Investor
Services LLC
Guardian/RS Funds
Hofstra University /
Continuing Education
ICON Advisers, Inc.
Investacorp
Laserfiche
Lincoln Financial
Manning & Napier Advisors
MetLife Investors
MFS Investment Management
National Integrity
National Network
of Accountants
North Atlantic
Communications
Pacific Life &
Annuity Company
Penn Mutual
Principal Financial Group
Principal Funds
Putnam Investments
Senior Care /
LK Daily Money Mgmt
Tamarac, Inc.
TD Ameritrade Institutional
Term2Cash
Transamerica
Virtus Investment Partners
Wells Fargo Advantage Funds
Page 8
FPA Long Island Pro Bono Program
Volunteer Meeting: December 14th
PLEASE JOIN US
TO LEARN HOW YOU CAN GIVE BACK TO YOUR COMMUNITY
THROUGH OUR CHAPTER'S PRO BONO PROGRAM
Topics to be discussed:
 Overview of the program
 Opportunities to get involved
 Sample presentations, worksheets, etc.
 Q&A
REFRESHMENTS WILL BE SERVED !!!!
For questions about the program,
call or email Rich Bergen, Director of the Pro-Bono Committee,
at 516-741-1430 or RICH@RLBWEALTHPLAN.COM
We look forward to seeing you there!
Special Note :
The Family Service League is looking for volunteers for their debt counseling Program.
Please call Pilar Moya Mancera at (631)427-3700 extension 264, if you are interested.
Next Meeting:
Tuesday,
December 14th
Time: 3:30-5:30 p.m.
Place: RLB Wealth
Planning, Inc.
1325 Franklin Avenue
Garden City, NY
either Suite 235 or the
Conference Center
Call or email
Rich Bergen to RSVP
516-741-1430
rich@RLBwealthplan.com
FPA LI Focus Groups
The FPA of Long Island plans to begin at least one new study group in January or February
of 2011. A survey was recently sent out to all FPA members in an effort to determine the level of
interest in various areas of financial planning. We are in the process of evaluating the results of
that survey. Conversations with the respondents will further help decide the ultimate size of the
group (fewer than 15), frequency of meetings, and so on. While no location has yet been established, the meetings will be held in the general vicinity of the Rt. 110 corridor in Farmingdale.
We anticipate these groups to be very interactive, and valuable to the participants for the
exchange of information as well as a resource to group members. These groups will be available to
all FPA LI chapter members and anyone interested should contact Craig Marcott, Director of Focus Groups, at (631) 286-1061 or craig@craigmarcott.com.
The Fee Advisor Group of the FPA of LI
The Fee Advisor group met this past October at the Milleridge Inn in Jericho. The topic
of this meeting was ‘The Search for Income’, something on the minds of all advisors during this difficult time of low interest rates and market volatility.
The meeting format was one of ‗interactive discussion‘, where members shared ideas on
what they were doing in their practices to address this issue. There was mention of purchasing
dividend paying stocks, investing into emerging markets (EM); particularly through the use of companies that are based in EM countries or international companies that produce or sell products to
those markets. The group also discussed the use of annuities as a ‗asset class‘ to diversify client
portfolios, and help guarantee a stream of income in certain circumstances. Different products,
product options, and even company specific products were shared and offered for discussion by
the group.
Any FPA member who does ‗fee-only‘ planning may join the group. For more information, please visit the chapter website at www.fpali.org or contact Andrew Rich, CFP® - Director
of the Fee-Advisor Group at 516-433-0828.
- Michelle Buonincontri, CFP®
Page 9
Changes to the Selection Process for
“THE HOWARD BLACK MEMORIAL AWARD”
At the November meeting of the FPA of Long Island Chapter Board of Directors, the
board members voted to change the method for the selection of the Howard Black Award recipient. Since the inception of the award the review committee consisted of members of the Past
Presidents Council. The Board voted to replace the Past President Council with the Howard Black
Award Committee, which may only be comprised of previous Howard Black Award recipients who
are current members of both the FPA and the Long Island Chapter. The Board felt that the past
recipients of this award have the greatest insight about the award.
- Andrew Rich, CFP® - Director of the Fee-Advisor group
“The Weekend Corner”
Welcome, this is a new addition to our newsletter.
We will be bringing you some restaurant and wine reviews from some of our members.
Salute!
270 Madison Avenue, NYC.
If you are looking for a mid-town fine dining experience try Salute! A upscale Italian cuisine great
for business lunch meetings, late afternoon cocktails or a night out, you will enjoy the atmosphere,
upbeat, friendly and experienced staff, excellent wine list and of course great menu!!
- Anthony Papa, CFP®
In adherence to the FPA’s Open Forum Policy,
the Financial Planning Association of Long Island
welcomes advertisements from reputable suppliers
of products and services to the financial planning
community. However, the chapter’s Board of Directors
does not perform due diligence on advertisers or
authors and cannot guarantee that their
offerings or writings are suitable or correct.
Page 10
The Howard Black Memorial Award For
Achievement And Excellence in Financial Planning
THE AWARD: The award was initially presented by the Board of Directors of the Long Island
Chapter of the IAFP. Following the merger of the IAFP and the ICFP, the decision was made to
continue this tradition in the memory of a notable contributor to the Long Island financial planning
community. The award is administered by the Past Presidents Council of the Long Island Chapter of
the FPA. The Council includes past presidents of the former LI-IAFP Chapter, the former LI-ICFP
Society, and the newly formed LI-FPA.
NOMINEE QUALIFICATIONS:
 Active membership in the Long Island Chapter of the Financial Planning Association (FPA)
 Noteworthy Service and Contribution to the Financial Planning Profession
 Noteworthy Service to the Public
 Adherence to High Ethical Standards
● Nominees are not required to be practicing financial planner professionals, and might be from
other allied professions or academic disciplines with strong financial planning focus.
We hope all
members will
aspire to
nominate a
colleague of
themselves for
this prestigious
recognition of
their peers
NOMINATION FORM
Must be Submitted by August 31, 2011
I.
Nominee‘s Name: ____________________________________________________
Address: ___________________________________________________________
City / State / ZIP _____________________________________________________
II.
Professional Designations Held: __________________________________________
III.
Professional Organization Membership: _____________________________________
IV.
Service and Contribution to the Financial Planning Profession: (Describe in attachment)
( ) Lecturer ( ) Teacher / Instructor ( ) Authorship ( ) Boards/Committees ( ) Other
V.
Service to the Public: ( Describe in attachment )
( ) Civic ( ) Charitable / Volunteer ( ) Other:
VI.
Has Nominee signed a Code of Ethics Pledge?
Y /
N With whom? _____________
VII.
Has Nominee received any Complaints or Compliance citations?
attach explanation)
Y
/
N
(If yes,
VIII.
Three Other Financial Planning Professionals to Whom Nominee is known:
(Provide Contact Information)
1. _____________________________________________________________________
2. _____________________________________________________________________
3. _____________________________________________________________________
IX.
Special Remarks (Please attach)
Date of Submission: ______________________Submitted By: _______________________**
** Not Required / Nomination may be submitted anonymously
SUBMIT THIS FORM TO: The FPA of Long Island, fpali@optonline.net;
1895 Lincoln Avenue, East Meadow, NY 11554-2522; Ph: 516-542-2004
All nominations must be submitted by August 31, 2011.
The Award will be presented at the FPA of Long Island‘s Symposium on October 28, 2011.
Page 11
1895 Lincoln Avenue
East Meadow, NY 11554-2522
Phone: (516) 542-2004
email: fpali@optonline.net
www.fpali.org
FPA of Long Island Upcoming Meetings
Schedule of Monthly Meetings, Seminars and Events
All monthly program meetings will be held 5:30 p.m. – 8:30 p.m.
At the Crest Hollow Country Club in Woodbury, NY
Visit our web site at www.fpali.org
Registration forms can be downloaded for our different events

December 15, 2010

January 7, 2011
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January 19, 2011
February 16, 2011
March 16, 2011
April 13, 2011
May 6, 2011

May 18, 2011

June 13, 2011

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June 15, 2011
October 28, 2011
Monthly Program Meeting —
A Day in the Life of a Portfolio Manager
Educational Seminar: Tax Update Meeting,
at the Carlyle on the Green, Farmingdale, NY
Monthly Program Meeting — Special Needs Trusts
Monthly Program Meeting—Asset Allocation
Monthly Program Meeting — tba
Monthly Program Meeting — Estate Planning Update
Educational Seminar: For NYS Insurance CE,
at the Carlyle on the Green, Farmingdale, NY
Monthly Program Meeting—Real Estate,
REITS, Ltd Partnerships
Annual Scott Hirschbein Memorial Golf Outing,
at The Hamlet Wind Watch Country Club, Hauppauge
Monthly Program Meeting—Mid Year Investment Review
The FPA of L.I.—12th Annual Symposium & Exhibition