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2 MESSAGE FROM THE PRESIDENT 3 MEMBER MILESTONES 3 PROGRAMS AND EVENTS 2017 6 WHY FPA PRO-BONO? 7 ADVOCACY DAYS 2017
MEMBERSHIP Contact Jim Boughner, CFP®: 412.471.6420 PARTNER WITH US
Spotlight Timothy S. Perkey, CFP® VP Senior Wealth Strategist PNC Wealth Management
Timothy “Tim” Perkey, CFP®, is a strong supporter of the CFP® designation. He took the CFP® Certification Examination in 1998, introduced seven years earlier by the CFP Board to test individuals ability to integrate and apply the knowledge gained from the financial planning curriculum. (About the CFP Board, 2017) While he recognizes the panoply of career paths available in today’s financial industry, he says, “I never hesitate to tell young people why I became a CFP® professional and what it offers young professionals in the long term.” With that in mind, we asked Tim, “What led you to the financial industry? “Why did you get your CFP® designation, especially at a time when it was quite new?” And...“How did it affect your career goals and achievements?” C O N T I N U E D O N PA G E 5
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MESSAGE FROM THE PRESIDENT
Dear Members: As Chapter President for 2017, it is my hope that now through the end of the year our members bring a new level of enthusiasm and commitment to the FPA of Pittsburgh. So far, so good! The recent Retirement Planning Conference at the Grand Concourse, brought out a full house – almost standing room only – even on one of the most rainy, cold winter days of the year. Our Meet Your New President Social Hour in February at Revel+Roost was outstanding – I met and chatted with individual and prospective members for over two hours. Going forward, I hope you will save the date for the several programs and events coming up, all of which promise to be well worth your time. (Click here for the full list.) That said, it goes without saying that high level programs and events are important benefits of being members of the FPA. However, there is much more in which you can partake and be enriched. Consider the work being done through our Pro Bono Committee. We directly touch and change lives for the better in our communities through this group. It’s just extraordinary! Although we are bombarded with financial news via the Internet, the growing number of cable TV shows, social media, and more, the one place financial industry professionals, especially but not limited to those of us who are CFP® practitioners, can find opportunities to discuss and consider important industry issues of the day is the FPA. At the local level we have easy access to each other; at the national level, the FPA offers everything from academically vetted white papers and articles to online chat rooms. Our own one stop shop! Last by not least are our Advocacy efforts at the state and national levels (see page). As you well know, it has been a roller coaster ride of late when it comes to legislation that directly affects us and our clients. If you have never been to the Capitols in Harrisburg or Washington, D.C., I recommend being part of one or both of these endeavors to help create prudent policy that is in the best interest of our profession and our clients. I want to leave you with my descriptors of the FPA of Pittsburgh: community, fellowship and friendship. And, as always, thanks to our Executive Director Ann McKenna, the dedicated members of our Board of Directors and our sponsors.
Paul J. Brahim, CFP®, AIF® 2017 President, FPA of Pittsburgh
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PROGRAMS AND E V E N T S 2 0 17 Mark your calendars now for the following: just click on link for more information: CFP Ethics Seminar, Wednesday, April 19th 2 CE granted SISP Event, Thursday, May 11th Cybersecurity Breakfast, Wednesday, May 17th 2 CE granted Investment Planning Conference, Wednesday June 7th CE pending FPA 2017 Advocacy Days, June 6th, Harrisburg June 20-21, D.C. Estate Planning Conference, Wednesday September 13th CE pending Financial “Four”um, Thursday, November 2nd
Member Milestones THIRT Y-FIVE YEARS
Andrew Costanzo, CLU, ChFC Costanzo Financial Group
Edward M. Gallagher, CFP® Northwestern Mutual Financial
Merle D. Koon, CFP® Trustmont Group
Norman J. Santori, CFP®, AIF, ChFC, MBA Santori & Peters, Inc.
TWENT Y-FIVE YEARS Raymond A. Egan PNC Bank
Nancy L. Skeans, CFP®, CPA Schneider Downs Wealth Management Advisors, LP
John Mark Hunter Lincoln Financial Network
James R. Wallisch, CFP® Raymond James Garrett S. Hoge, CFP®, RFC, MS H. Financial Management
TWENTY YEARS Simler C. Batcheler, CFP®, ChFC, CLU, CRPC Batcheler Financial Louis R. Berteotti, CFP® Berteotti Insurance & Financial Services, Inc.
FIVE YEARS Michael P. Palmer Palmer Financial, LLC Aaron K. Dayton, CFP® JFS Wealth Advisors Keith Eliou, CFP® Attorney at Law Grant Fleming,CFP® Hefren-Tillotson, Inc.
Donald W. Ickert, CFP® Bates Barksdale Ickert & Co
James J. Foley, CFP® Janney Montgomery Scott
Brian D. Knapp, CFP® Hefren-Tillotson, Inc.
Jeramy E. Genaway, CFA®, CFP® Hawthorn, PNC Family Wealth Rebecca L. Haugh, CFP®, AIFA® BPU Investment Management, Inc.
Steven A. Latterman Merrill Lynch John A. Martin, CFA (Retired)
Note: We will be hosting “yet to be” determined social gatherings. Look for emails in the coming weeks and months.
Matthew A. Yanni, CFA, CFP® Yanni & Associates Investment Advisors, LLC
Erica L. Snyder CFP® Hunter Associates
Timothy S. Perkey, CFP® PNC Wealth Management Bill Rice Laurel Highlands Financial Services LP Richard R. Soeder, CFP® PNC Financial
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New Members Wellcome New Members Glenn Coleman Coleman Financial Services LLC Todd S. Fleming Hefren-Tillotson, Inc. Teyonna Harris Wells Fargo John R. Kautz Hefren-Tillotson, Inc. Matthew E. Kengersky, CFP® Kengersky Insurance Agency Jered Pander Dollar Bank Lesley Paget Parrish, CFP® Russell Investments Bryan J. Pirosko Hefren-Tillotson, Inc. Karrie Santos Vincent Strangio, CFP® PNC Wealth Management Shane M. Suders, CFP® PNC Investments Brian J. Tarquinio, CFP® UBS Financial Services Edward T. Turk, CFP®, MBA Wells Fargo Advisors Tom Wilson.CFP® JFS Wealth Advisors, LLC
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C O N T I N U E D F R O M PA G E 1
Born and raised in Crafton, after graduating from Carlynton High School, Tim went to Indiana University of Pennsylvania (IUP). “I should have graduated in 1981 but decided to take two years off to do some ‘real work’. I took a job with a carpenter, who was trained as an artist and had a fine arts degree from Carnegie Mellon. His primary focus was on making extraordinary wooden gifts and toys, eventually moving on to home restoration for clients of ‘wealth and fame’. The experience was wonderfully rewarding, but I realized I was more suited to a ‘desk job’ for the long-term.” Consequently, Tim went back to IUP and earned a bachelor’s degree in business. After graduating he interviewed for jobs in the financial industry. He said, “I began working for a mortgage broker, but, it wasn’t a good business to be in at the time, and I wasn’t comfortable working in that area. Still, I needed a job.” As timing is everything, Tim got a call back from PNC, where he had also interviewed. They offered him a position in the Accounting Department, which jump started his long-term career at PNC. After six years with the Accounting group, Tim moved to PNC’s online administration group, where he spent two years. Next he went to work in the Trust Department, then known as PNC Private Bank, later PNC Advisors and today PNC Wealth Management, where Tim serves as Vice President, Senior Wealth Strategist. Tim pointed out, “I was hired by Karen Stollar, CFP®, who is now Senior Vice President and Senior Wealth Strategist for Hawthorn, PNC Family Wealth®. I will always be eternally grateful to Karen. She was a terrific supervisor and mentor. At that time, Karen was on the National Board of the International Association for Financial Planning (IAFP), and she encouraged me to earn the CFP® designation. (Editor’s Note: Karen was one of the early IAFP presidents.) She also encouraged me to become active in professional associations.” He added, “I was on the board of the Pittsburgh Chapter of the Institute of Certified Financial Planning (ICFP) and was slated to become board president in 2000.” For those of you who are new to the FPA, in 2000 the IAFP and ICFP merged to become the FPA. Said Tim, “Naturally the two boards came together. One of my peers, Jonathan Kuhn, CFP ® of Allegheny Financial Group, was next in line to be President of the Pittsburgh Chapter of IAFP. At the first group board meeting we flipped a coin. Jon became the first FPA of Pittsburgh Board President, while I served as the Board’s first Vice President.” More
trivia, Tim worked on our Chapter’s first newsletter and wrote a column for soon to be CFP® professionals. For example, he recalled, “I included study tips, where to find a study group, and more information students valued. Remember, this was when the designation was in its infancy, so we appreciated opportunities to support each other over the months we spent preparing for the exam.” To this day, Tim is a strong proponent of the CFP® designation. Grinning, he said, “I still have the notification of passing the exam. It’s the best financial industry certification to have in my opinion. At PNC we have many CFAs (Chartered Financial Analysts), CPAs (Certified Public Accounts) and attorneys. However, the CFP® brings a total – all encompassing – holistic approach to working with people. Notice, I didn’t say dealing with their finances, rather it’s working with people at a very personal level on a range of life long financial goals and related issues. It’s a totally different approach.” Adding, “The Series 7 does not give you what the CFP® designation provides”. Again, I am forever grateful to Karen, who was not only key to me getting the CFP® designation, but also included me in client meetings where she exemplified how the CFP® works in the real world. I was able to see how she dealt with people and how people dealt with us as an institution; that experience is something you cannot learn by reading a book – you have to be pulled into the process.” At this stage in his career, Tim is able and proud, as he says, “to pass it on” to those in the early stages of their careers. Consequently, “When a new person comes through my door I am thrilled to mentor them, if they so choose. At a minimum, I take them aside and talk to them about how we interact with our clients and how we function as CFP® professionals.” At the end of our conversation, we talked with Tim about why our profession is often overlooked or misunderstood. He commented, “The FPA is a professional association that implies it’s a profession not just words; we need to encourage more prospective CFP® professionals through mentoring and professional development programs and opportunities. Twenty years ago I would tell someone I was a CFP® professional, and they would ask me who my broker dealer was. The CFP® marks took us away from the stereotypical broker/dealer model. No doubt, there are some wonderful brokers who do great work. But, as a CFP® professionals we are fiduciaries – our profession demands we adhere to the best interests of our clients. I believe my CFP colleagues would agree that in the not too distant future anyone who wants to call themselves a financial advisor will have to have the CFP® designation after their name.”
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Why FPA Pro-Bono? Christopher Cannon, M.S., CFP®, AIF® Wealth Management Advisor RetireRight Pittsburgh
For me it’s a structured way to give back to my community in a meaningful way. It allows me to use my knowledge and expertise to create a positive change in someone else’s life. And, the gratification factor is immeasurable, as the causes in which I am involved are near and dear to my heart: helping cancer patients and the elderly. I have personally experienced the toll cancer takes on the patient and their family members through my mother’s battle with the disease. It’s mentally and physically exhausting. As a patient fights for their life and their loved ones do all that they can to support them, the last thing on their mind is: How are my finances? That said, through the FPA Pro-Bono program I serve as a resource to help patients coordinate benefits and make sure they are managing their finances in the best possible way during this crisis. Many elderly individuals need assistance. How often have you turned on the news to hear a story about an elderly person who was swindled out of their life savings or taken advantage of by a loved one? I once sat with my grandmother waiting for an individual from the “Publishers Clearing House” who said they would be visiting her house the next day with the “winning” lottery check. It was totally bogus, but very scary and all too common! Through the many excellent programs offered to the elderly in our region, it is my pleasure to volunteer my time and experience to educate these individuals of potential
scams, as well as to work with them on the range of financial issues that come with aging. I love what I do for a living, and it’s a real bonus to be able to use my professional skills to help those who do not fit into our “typical” clientele. The Financial Planning Association has a great reputation and provides an outlet for me and my peers to bring positive change in the community. As CERTIFIED FINANCIAL PLANNING™ professionals we have the ability to touch and help many people. I’d encourage anyone with a few hours to spare to find a cause that’s meaningful to you and get involved!
Bobby Standish speaks with the Age Well group at the Jewish Community Center in Squirrel Hill about how to manage and protect their financials from fraud, family and estate planning.
FPA OF PITTSBURGH PRO BONO CHAIR, BOBBY STANDISH, JD, CFP®, MANAGING DIRECTOR, WEALTH MANAGEMENT, BPU INVESTMENT MANAGEMENT, INC., IS LOOKING TO EXPAND HIS COMMITTEE AND YOU ARE WELCOME TO BE PART OF IT. Members of this committee, such as Chris, are dedicated to helping individuals and families in crisis by providing free, objective financial planning services. Through their pro bono efforts, they endeavor to serve, educate, and empower those who most need their help.
If you would like more information, or to be on Bobby’s committee, please contact him directly at 412.288.9150 or [email protected]
Please note: This opportunity is open to FPA of Pittsburgh Members Only!
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Join Us! FPA Advocacy Days 2017 Mark Ambrose, CFP®, Vice President-Financial Consultant, Charles Schwab & Co., Inc./Pittsburgh Branch, and Chair, FPA of Pittsburgh Advocacy Committee, invites and encourages all FPA of Pittsburgh members to join us on Tuesday, June 6th, 2017 for Harrisburg Day on the Hill. Meet your state representatives and senators to help them better understand our profession, our clients and the current issues of our industry. As Mark says, “It’s an important day and if you have never participated or even if you have been going every year, the experience is professionally and personally meaningful and impactful. Karen Nystrom, Director of Advocacy, Financial Planning Association, invites all FPA members to participate in the 4th Annual FPA Advocacy Day in Washington, D.C., June 20-21, 2017. According to Karen, “As our industry continues to change and present new yet exciting challenges we need to gain greater awareness and recognition by representatives at the state and federal levels and further the cause of supporting consumer financial education, fiduciary standards, non-taxation of financial services and more”. For additional information and to register go to: http://www.onefpa.org/advocacy/Pages/Advocacy-Day.aspx
Harrisburg, PA | June 6, 2017
FPA ADVOCACY DAYS 2017
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Do I have enough? How do I make it last? How do I protect it? How do I pass it on?
They’re the building blocks of BPU’s comprehensive approach to wealth management. Four fundamental questions upon which our relationships are built, counsel is given, and decisions are made.
BPU Investment Management, Inc. Proud to Support the Pittsburgh Chapter of the FPA! BPU. Invested in Your Interests
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WWW.BPUINVESTMENTS.COM Securities and advisory services are offered by BPU Investment Management, Inc., member FINRA/SIPC, an SEC registered investment advisor. © 2017 BPU Investment Management, Inc. PB040917
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Partner with the FPA
as an Annual Sponsor and/or Advertising in Quarterly Insights! We are looking for advertisers for Quarterly Insights! With exposure to over 300 financial advisors and others, it’s a win win for us and you. There are a couple of ways you can participate:
Become a Platinum, Gold, Silver or Bronze sponsor through our Partnership Program, which includes advertising opportunities. Take out a full, half, or quarter page ad – color or black and white: Full Page ...................................... Color: $1000/4 issues Full Page ...................................... B&W: $750/4 issues Half Page ...................................... Color: $500/4 issues Half Page ...................................... B&W: $350/4 issues Quarter Page ............................... Color: $250/4 issues Quarter Page ............................... B&W: $150/4 issue
If you are interested in this great way to support our Chapter while branding your business, contact Executive Director Ann McKenna at [email protected]
Mark Ambrose, CFP® Director of Government Relations Shana Bielich, CFP® Director of Programs & President Elect / "Four"um Chair James R. Boughner, CFP® Treasurer / Secretary / Director of Membership Nathan Boxx, CFP® Paul J. Brahim,CFP®, AIFA President / Financial “Four”um Chair
Amanda L. Priebe, CFP® Past President & Chair of The Board Rebekah Saylor Ilene H. Schwartz, RP® Director of Communications/ Newsletter/Public Relations Robert J. Standish, JD, CFP® Director of Pro Bono Ann W. McKenna Chapter Executive
Thanks to BPU Investment Management Inc., member FINRA/SIPC and an SEC registered investment advisor, for providing the underwriting to make Quarterly Insights possible.
FPA of Pittsburgh is a premier professional association that gives financial advisors who want to learn, advocate and contribute the opportunities they need to network, interact and develop successful practices.
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