FPA of MN Newsletter – April 2017

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FPA in the Community - BestPrep

Submitted by Jason Kley, CFP®, AIF, MBA - FPA of MN President-Elect

Why do we do what we do? For many of us, we work in our chosen field because of far more than a paycheck. We simply want to help others.

As a full-time financial advisor, I advise families on everything from investments, taxes, insurance, cash flow, estate planning, and educational planning. My goal is to assist families in achieving their goals in each of these areas. At times I feel more like a life coach than a financial expert. It’s of great reward when one of my clients says they are able to retire at the lifestyle they want and also provide for their family’s legacy without having to worry about any of the financial decisions.

Although I assist clients in establishing a structure to achieve their goals, a more important aspect is the foundation laid by the clients themselves. People generally don’t become my clients until many of their money habits have already been established and oftentimes that foundation of saving and investing was established at a young age. In addition to the clients I work with, I also enjoy assisting people with establishing good habits at a young age so that they too are in a better position to achieve their goals.

One organization that has allowed me to contribute to establishing good habits in high school students is BestPrep. BestPrep is a statewide nonprofit organization with a mission to prepare students with business, career and financial literacy skills through hands-on experiences that inspire success in work and life. BestPrep has helped over 1.6 million students in the past 40 years become better prepared for life after high school – including myself. As a high school student, I participated in BestPrep’s Minnesota Business Venture. This week-long program continues today in introducing students to leadership, business, financial literacy, and career options. More recently, I have gone into schools through the Financial Matters program to teach students about money management and through the Classroom Plus program to talk about my career track. Additionally, BestPrep provideseMentors, Technology Integration Workshop, and The Stock Market GameTM programs for students and educators.

If your calling extends beyond a paycheck and to a desire to help others, there are many opportunities to do so through FPA. Whether it’s conveying basic money management tenets to high school students, assisting low income households with budgeting and investing questions, or providing an overview of social security strategies to those who may not otherwise be our clients, FPA of Minnesota is helping people in numerous ways – and you can participate!

FPA of MN Partners with AARP at Healthy Life Expo

Last month, FPA of MN members partnered with AARP and volunteered their time to give free financial education consultations during the Healthy Life Expo.

The Healthy Life Expo is the largest Health and Wellness show in the Upper Midwest and featured over 200 exhibitors at the Minneapolis Convention Center. AARP elected to have a presence at the show to help those in attendance on financial matters that can contribute to a Healthy Life.

FPA of MN members, working within the AARP booth as part of a national pilot, helped provide advice to interested attendees ranging from retirement planning, to cash flow advice to debt consolidation etc.

A big thanks to all members who donated their time for this event!

Recap: 4th annual Advocacy Day

On March 16th, the Professional Issues Committee held its 4th annual Advocacy Day at the State Capital in St. Paul. Approximately, 20 FPA MN members had lunch with the Department of Commerce Commissioner Rothman and several of his staff members. The Department of Commerce staff spoke about pending legislation to increase Department funding to improve state-regulated RIA and fraud detection. Michael Marben, the head of the fraud detection team, gave an excellent presentation on what his unit is doing to combat insurance and other financial fraud. Commissioner Rothman spoke about the continuing effort to pass the Safe Seniors Financial Protection act to stop elder fraud.

FPA MN members also went out to meet with their legislators to remind them about FPA MN's mission and efforts to increase financial literacy in Minnesota. Legislators were in agreement that financial literacy among our young people should be a priority to prepare them to make good decisions on debt and savings.

In fact, the Department of Commerce is leading the effort in this year’s Financial Literacy Month (April!) to shine a light on the importance of economic and financial education. In collaboration with non-profits and government agencies around the metro area, this year’s programming ranges from professional development workshops for teachers to roundtable discussions with policymakers to free public resources to Jump$tart’s annual conference “Solving the Puzzle of Paying for Higher Education” at the Federal Reserve bank of Minneapolis.

To learn more about Financial Literacy Month click here.

To learn more about what our FPA MN is already doing to enhance the financial education of our community and how to get involved, please read the newsletter posts under Financial Education committee and check out the get-involved page of the fpamn.org website.

Scholarship Available to attend 2017 FPA NexGen Gathering

FPA of MN NexGen is excited to announce a great career development opportunity by offering a scholarship to attend the soon-to-be SOLD-OUT 2017 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 23 - 25, at North Central College in Naperville, IL. To be considered for the scholarship, applications are due by May 3, 2017.

You can read more about the conference here.

Also, our 2016 Gathering Scholarship winner shared her experience in this newsletter article.

Young planners: Register for the 2017 FPA NexGen Gathering

Join us for the 2017 FPA NexGen Gathering being held at North Central College in Naperville, IL, June 23-25. The conference theme is LEAD TODAY, providing opportunities for attendees to discuss hot topics and trends facing the future of the financial planning
profession and a chance to get to know your peers and colleagues in an intimate and free-flow setting. Register today!

Homeward Bound named as Our Charity Pick for 2017 FPA Golf and Bocce Tournament

We are pleased to announce that Homeward Bound will be the benefactor of funds raised at our 2017 FPA Golf and Bocce Tournament. Homeward Bound provides quality and innovative services to support children and adults with severe and profound disabilities. They operate several residential homes, run in home programs and provide resources to help people with complex disabilities to live their lives with dignity. The funds raised at this year’s event will be used to purchase a handicap van or other necessary medical equipment.

FPA’s highly acclaimed Residency program expands in 2017

If you’re looking for a top-notch, intensive client-centered financial planning training experience, you now have more opportunities to find it! Each year, due to its excellent reputation (as reported in Financial Advisor magazine), quality faculty and proven outcomes, the wait list for the immersive 5-day FPA Residency program grows longer. As a result, FPA is meeting the growing demand by offering the program twice this year from June 9-14 and Oct. 20-25 at the Inverness Resort in Denver. Spaces go quickly, so register soon!

Expand your client network: Join the Betterment Advisor Network™

Meet mass affluent clients who need your financial experience and expertise. Offered through a strategic partnership among FPA and Betterment for Advisors, the Betterment Advisor Network™ supports FPA members by providing opportunities to build your business and while thoughtfully supporting clients in a technologically advanced world. Learn more and join the waitlist today.

FPA can help you with your business needs

FPA members can save thousands with companies like Twenty Over Ten, Advyzon, RightCapital, CalSurance, RIA in a Box and more! FPA has secured FPA member rates on business essentials to make your bottom line a little sweeter. Find offers to address business needs from
business planning to software to marketing to insurance. Learn more.

2016 FPA Annual Report is now available!

From original research and conferences to the Journal of Financial Planning to outstanding networking, 2016 was a year full of opportunity for FPA members to grow professionally and personally. The new 2016 Annual Report of the Financial Planning Association chronicles how FPA has supported members over the past year and what is on tap for 2017. Access the report today to learn what FPA has been doing as your professional association!