FPA of MN Newsletter – April 2016

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President’s Message – April 2016

How’s it going?
I’ve been getting that question a lot as we are already finished with a quarter of the year! I had high hopes for our chapter this year and so far it has been great progress and exciting to see the energy we have in our members. A major theme for the 2016 Board of Directors year is IMPACT. We have discussed the impact that FPA has on members, community and the profession and continue to keep that top of mind in the work being done. There have been great things so far this year that solidify the commitment that FPA of MN has to this focus. I wanted to highlight some of them.

The chapter meetings so far this year have been really great! The speakers are bringing topics that are interesting and new to the crowd. Special thanks to our programs committee for working so hard on organizing the engaging content and presenters.

There has been a task force working on spreading the highly rated chapter meetings beyond the third Tuesday timing. The meetings are being video recorded and there is a Virtual Learning Center online for access beyond our monthly gatherings. There are also new offerings with the season pass now including the webinars and a stand alone webinar season pass serving up savings to our members.

Future of the Profession
The career development committee hosted another successful Career Day on February 26th. This was the 10th annual event, including interviews, round table discussions, panel presentation and a keynote speaker. The attendees and volunteers had a day of discussion and reflection around the profession of financial planning. I personally was happy to be a part of the day and think back to my first FPA experience which was at the first FPA MN Career Day in 2007 as an attendee!

NexGen has been continuing their efforts of building a community within the FPA for younger members. The committee works to create opportunities for growth, education and networking. The K’Nex Series is open to all members and brings topics that are not focused on CFP® CE credits but rather topics around personal and professional development. I highly encourage checking one out, watch for the invites!

The 3rd annual Advocacy Day was held at the Minnesota Capitol on March 9th. There was a great discussion and valuable connections made with the Department of Commerce and legislators. It is important we strengthen connections with regulators and legislators so we can be looked to as a trusted advisor and resource on topics that impact our profession and consumers.

Enhancing Membership
There are a number of initiatives that are focusing on enhancing the membership and outlining the value of FPA membership.

One of these initiatives is the Chapter Guide Program. This program is an effort to help new members feel at home in our chapter. Members are matched with new members during the first year of membership to make connections and share what is going on in our chapter to fully integrate into our membership. If you are interested in being a guide please let a board member know!

FPA Golf & Bocce Outing Returns to Prestwick Golf Club

We invite you to experience Prestwick Golf Club for our 2016 FPA golf & bocce ball event on Monday, August 1, 2016. Prestwick is a premier facility known for providing exceptionally friendly service and an impeccably maintained golf course. Prestwick Golf Club is located in the southeastern Twin Cities suburb of Woodbury. This par 72 championship golf course features four sets of tees and large undulating greens. Come enjoy the natural beauty of Prestwick Golf Club.

  • Named Golf Course of the Year … MWGCOA
  • Rated Four and Half Stars and ‘Best Place to Play’ …Golf Digest
  • Rated ‘Top 3 Best Public Golf Experiences in MN’ in 2013… Mpls Star Tribune

Last year’s golf event raised $7205 for ALS. Prestwick Golf Club will contribute $1000 to the 2016 charity, Can-Do Canines, for registering 100 golfers or more!

Can Do Canines is dedicated to enhancing the quality of life for people with disabilities by creating mutually beneficial partnerships with specially trained dogs. Since 1989, Can Do Canines has provided assistance dogs to people with disabilities, free of charge.

Fully-trained dogs, often adopted from local animal shelters, are provided to clients with mobility challenges, hearing loss or deafness, seizure disorders, diabetes complicated by hypoglycemia unawareness or children with autism. Can Do Canines is the largest provider of assistance dogs in Minnesota and relies on individual contributions to support its important work.

Be sure to Save-the-Date - Watch for your invitation coming out soon or REGISTER NOW.

Special thanks to the Member Experience Committee
Laura Biermann
Kathie Bortnem
Jim Gruning
Ron Evans

Brandon Hillman
Scott Howard
Beth Nemec
Jack Pickler

Corey Purkat
Julieann Schroeder

Recap: March Chapter Meeting - April Preview

Are you going to live to be 100? Carolyn McClanahan asked this question as she discussed allocating for health expenditures and planning for health care through our client’s retirement years. Carolyn raises many concerns and discussed the use of insurance as she provides flat fee advice for her clients at her own practice in Florida. It was a well presented meeting and the audience impressed with thoughtful questions at a well attended meeting. If you missed it, you not only missed a good national presenter but an excellent opportunity to network with your peers.

Please join us for a change in the calendar. Our original speaker had an active duty military child returning from oversees for a visit. So he could have time with family we brought in Dave Chechanowicz, Director of Education, JD, and presenter for Social Security Timing. Dave will speak to us on optimizing your client’s social security benefits and update us on all current social security changes and strategies. Dave is one for a story and with a 35+ year career, he is not short on good ones.

Stay for the two hour special code of ethics session being offered, directly following the April chapter meeting. Jeffrey Rattiner, President of Rattiner's Financial Planning Fast Track, Inc and JR Financial Group, will provide an entertaining and in depth ethics presentation. This session will help financial planners prepare for for the certification examination. Financial Planner’s Ethical Dominance® provides a practical approach to learning the ethical standards of professional conduct and responsibility through the use of 21 anonymous case histories. April will be a fun month to attend the Minnesota FPA. See you then.

SYMPOSIUM SPEAKER - October 10, Nathan Dungan


A Journey to Financial Wellbeing: Reframing Your Client Relationships
Presentation Scheduled for Monday, 9:50-10:50 am
Pending CE Approval: 1 CIMA, .75 CLE Stnd
Approved CE: 1 CFP, 1 NASBA/CPE, 1 MN insurance
NO CE: WI insurance

Too often, the consumer culture is the dominant voice in shaping the money habits and decisions of individuals and families. This can lead to unfortunate consequences such as increased stress and diminished wellbeing—regardless of one’s net worth. Nathan Dungan, founder of Share Save Spend® and industry thought–leader, will offer insights on how these trends are shaping your clients money narrative, why they are presenting significant challenges to generational wealth transitions and what role advisers can play in reframing client conversations about money and the role it plays in their lives. Nathan will share key discoveries from their ground-breaking research with families and how those findings are informing a variety of successful collaborations with advisors and wealth management firms.

Win a Scholarship to attend the 2016 FPA NexGen Gathering

FPA MN NexGen is excited to announce a great career development opportunity by offering a scholarship to attend the SOLD-OUT 2016 FPA NexGen Gathering. FPA NexGen Gathering is an annual conference specifically created for the next leaders in our industry. It will be held on June 10 - 12, at the University of Texas in Dallas. To be considered for the scholarship, applications are due by April 22, 2016.

Download Scholarship Application
See more details on the event

Montgomery Scholarship Winners Announced

We are excited to announce the recipients of this year’s Montgomery Scholarship: Cally Ingebrtison and Katie Frazier!

Cally Ingebritson is a soon-to-be he Certified Financial Planner (CFP®) and plans to establish a bilingual financial planning practice to assist both English and Spanish speakers reach their financial goals. Currently, she works at Prepare + Prosper, a non-profit in St. Paul dedicated to helping Minnesotans work towards a brighter financial future. She manages Minnesota's leading volunteer-based financial coaching program that helps people boost savings, eliminate debt and improve credit. Additionally, Cally writes a personal finance column for Minnesota's latest Spanish-language news source, El Minnesota de Hoy. She holds a Bachelor of Arts in Latin American Studies and Spanish from the University of New Mexico.

Katie Frazier has a Bachelor of Science degree from University of Nebraska-Lincoln, and she originally moved to Minnesota in 2010 to pursue a career in Food Science. Along the way, she discovered her passion for finance, and switched careers in 2014. Katie is currently an Associate Wealth Advisor/Assistant at Everest Financial Group in Golden Valley, MN, where she is developing her skills and knowledge in financial planning. Additionally, Katie is studying to be a Certified Financial Planner at Minnesota State University Mankato, and plans to sit for the Board exam in July 2016. Katie is a member of the Minnesota chapter of the Financial Planning Association, and during tax season, she is a volunteer tax preparer for Prepare + Prosper, an organization that provides free tax assistance to low-income taxpayers in the Twin Cities. Outside of work and studying, Katie enjoys spending time with her husband, Rob, and two Boston Terrier dogs, Melvin and Byrdie.

Exciting New Partnership with Minnesota State University, Mankato

We are excited to announce that Minnesota State University, Mankato have agreed to the University Partner Program with the FPA. Students who complete a Finance degree with an emphasis in Financial Planning and Insurance qualify to sit for the CFP® exam upon graduation.

The Career Development Committee has pursued opportunities for the students at Minnesota State University, Mankato and the FPA to work more closely together. The committee has visited the finance club on numerous occasions in the past to highlight opportunities that the FPA can provide students as they consider pursuing a career in financial planning. Students from Minnesota State, have attended the FPA symposium and chapter meetings on scholarship and participated in the FPA Career Day. Going, forward, the University Partner Program should serve to strengthen that connection with Minnesota State University and its finance students. Students will have the option to become student members of the FPA at a discounted rate, and will be able to enjoy the many benefits of becoming an FPA member. If you have ideas or are interested in helping students from Minnesota State University, Mankato become more involved with the MN chapter, please contact the Career Development Committee.

Recap: 2nd Annual One-on-One Financial Counseling with AmeriCorps/CollegePossible

For second year running, 8 Pro Bono Committee members and volunteers conducted a one-on-one, 20-minute financial counseling session with 32 AmeriCorp members in collaboration with CollegePossible. The event took place on March 22nd, Friday, from 1 – 3 PM, at CollegePossible’s St. Paul campus on Fairview and University.

AmeriCorp members asked our volunteer planners following questions. How would you answer them?

  • How can I keep my car and make ends meet?
    Members’ stipend is $1,000 a month.
  • How do I manage my student loans?
  • Should I apply the Academic Credit to pay down student loans or use it to pay for graduate school?
    Members receive non-taxable $6,500 in academic credit at the end of one year of commitment.
  • I’m starting a real job in June, what should I know and do?
    Our annual one-on-one financial counseling is one of the few transitional AmeriCorp to career transitional informational counseling they receive.
  • Should I continue with 2nd year of this program?
    Members are passionate and committed to serving their communities.

Thanks to San Asato, Earl Cohen, Jennifer Elston-Brondell, Joe Downes, Doug Heagren, Scott Nelson, Corey Purkat, and Tiffany Rovaina for volunteering and making this event happen, and positively impacting lives and our communities.

6th Annual Financial Capability Roundtable - April 12

Mike Rothman, Commerce Commissioner and the Minnesota Department of Commerce welcome you to this year’s Financial Capability Roundtable with keynote speaker Congressman Keith Ellison.

As a member of the United States House Financial Services Committee, Congressman Ellison has been a national leader on initiatives to promote economic opportunity, financial inclusion and consumer protection. We look forward to hearing Congressman Ellison’s unique perspective on the importance of financial capability issues.

This year, April will focus on how financial capability can create an inclusive economy. The economy is in a much different place than when we met for our first Roundtable in 2011. Many indicators tell us that the economy is stronger, but it is also clear that many people have been left behind in the recovery and much work has yet to be done.

The Roundtable will highlight success stories and case studies from Minnesota’s strong financial education and empowerment community.

Special guest, Andrea Levere, President of CFED will also be discussing policy interventions to build assets and expand economic opportunity for Minnesotans from kindergarten to retirement.

6th Annual Financial Capability Roundtable
Keynote speaker: Congressman Keith Ellison
Special guest speaker: Andrea Levere, President, CFED

Date: Tuesday, April 12, 2016
Time: Registration begins at 7:30 AM, program starts: 8:00 AM
Location: Minneapolis Central Library, Pohlad Hall, 300 Nicollet Ave, Minneapolis, MN 55401

The event is free, registration required.

Jump$tart Coalition Annual Conference - April 27

In conjunction with Financial Capability Month, Jump$tart is hosting an annual conference entitled “Financial Literacy of Youth: Whose Responsibility Is It?” on Wednesday, April 27th. For more information and to RSVP, please go to this website.

What: Financial Literacy of Youth: Whose Responsibility Is It?
With keynote speaker Joyce Serido, PhD
When: Wednesday, April 27, 2016 - 3:00 p.m. to 6:30 p.m.

  • 3:00 p.m. Tour of Federal Reserve Bank (optional)
  • 4:00 p.m. Welcome and Keynote
  • 5:15 p.m. Breakout sessions

Where: Federal Reserve Bank of Minneapolis
90 Hennepin Avenue, Minneapolis, MN 55401
Cost: Free – light refreshments will be provided.