FPA Austin Newsletter

MARCH 2020 NEWSLETTER

A Message from our President

Dear Austin FPA Members,

Your FPA board continues to meet monthly via Zoom. We have scheduled a Zoom chapter meeting for April 14 with Phil Seibel of Collaborative Planning Group, and in May, we will host Scott Dawson of First Trust.

We have planned an ethics only meeting for October, and Blake Rhodes is following up with speakers for our June meeting. Ross Patterson is pursuing pro-bono opportunities, and David Hampton is looking forward to hosting our next NexGen event. Margaret Casey is busy talking to our partners for sponsorship and joint venture opportunities. And, of course, Sarah is making sure our chapter is running smoothly.

Here’s what Warren Buffett had to say about the 2008 market correction in Berkshire Hathaway’s Annual Report, “Amid this bad news, however, never forget that our country has faced far worse travails in the past. In the 20th Century alone, we dealt with two great wars (one of which we initially appeared to be losing); a dozen or so panics and recessions; virulent inflation that led to a 21 1⁄2% prime rate in 1980; and the Great Depression of the 1930s, when unemployment ranged between 15% and 25% for many years. America has had no shortage of challenges. Without fail, however, we’ve overcome them. In the face of those obstacles – and many others – the real standard of living for Americans improved nearly seven-fold during the 1900s, while the Dow Jones Industrials rose from 66 to 11,497. Compare the record of this period with the dozens of centuries during which humans secured only tiny gains, if any, in how they lived. Though the path has not been smooth, our economic system has worked extraordinarily well over time. It has unleashed human potential as no other system has, and it will continue to do so. America’s best days lie ahead.”

I know it’s a difficult time for all but keep the faith and follow your plan. I look forward to seeing you all in person.

Sincerely,

Bill Parrott

President

Upcoming Events

Tuesday, April 14, 2020 Webinar

12:00-1:00 p.m.

Topic: Planning for Care in an Aging Society

Speaker: Phil Seibel, Collaborative Planning Group

We will cover the various ways people can fund for the risk of long term care expenses (i.e.. asset-based / hybrid policies, traditional long term care, or life w/ chronic or terminal illness rider.) Participants will learn about the various insurance policies available today to help clients pay for the cost of long term care. We will discuss the health and financial considerations that should be considered when contemplating the product used as a funding source, including topics such as state partnership protection, premium deductibility, reimbursement and indemnity benefits.

Continuing Education: 1 CE approved

Tuesday, May 12, 2020 Webinar

12:00-1:00 p.m.

Speaker: Dan Waldron, First Trust Senior Vice President, ETF Strategist

Dan will discuss the use of factors to identify and capitalize upon investment opportunities in the equity market and highlight ETFs that utilize this factor-based approach.

Continuing Education: 1 CE approved

FPA Resources

The Financial Planning Association has launched the Volatility Resource Center to provide planners with content related to supporting clients during times of uncertainty.

It contains:

Recently recorded webinars from the FPA on coronavirus and the effect on current market conditions
Links to information from U.S. Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and more
Research papers, articles and blog posts addressing market volatility and allaying client fears
and more

You can find the site here: https://www.onefpa.org/Pages/Volatility.aspx

As always, please let us know how we can support you.

JOIN FPA HOUSTON FRIDAYS ON ZOOM!

Planners During Crisis Community

WHEN : Every Friday through May 1. Join for one or all!

TIME : Noon - 1:00 pm

HOW : ZOOM

Join your peers on Fridays through may 1 via Zoom for an open round table discussion to connect and discuss topics that are pressing in your current work life. This is a stressful time for planners, particularly those with limited experience, much less in a major downturn like this. A recent Kitces.com article " Self-Care and Self-Compassion in Times of Financial Stress and Anxiety " referenced that even if advisors are caring for their clients well, this can lead to secondary trauma, where planners take on their client's stress and fear. Having a place where we can gather during this crisis will hopefully make things easier to navigate.

This event is designed for NexGen, however, any FPA member or allied professional is encouraged and welcome to join!

These calls will occur each Friday from noon - 1:00 pm, through May 1.

"PLANNERS DURING CRISIS COMMUNITY"

· How to talk to clients in a crisis

· Using online tools and services to help client communications

· How to prepare to talk online (public speaking drills from expert sources!

· Self care in times of stress and anxiety

There is no cost to attend! Your online RSVP for each call you plan to participate in is appreciated....but not required.

E vent Dates: 3/27, 4/3, 4/10, 4/17, 4/24, 5/1

Join Zoom Meeting:

https://zoom.us/j/238683026

Dial: 1-346-248-7799

Meeting ID: 238 683 026

APRIL 3 RSVP

APRIL 10 RSVP

APRIL 17 RSVP

APRIL 24 RSVP

MAY 1 RSVP

FPA AUSTIN CORPORATE PARTNERS

We deeply appreciate each of our Partners. Your support allows our Chapter to thrive! We invite all members to take a moment to reach out to Partners--they would love to talk with you.

We still have room for both Gold and Platinum Partners. CLICK HERE to learn more about being a Partner.

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A Message from Gold Partner The Fleming & Conway Agency

Have you seen your monthly mortgage payment increased? You may think it is your homeowners insurance policy, but the largest increases are usually due to increase in property taxes. Make sure to review your property tax statements for 2020 and file an appeal before the April deadline. Check to see if you are taking advantage of available exemptions if applicable including Homestead, Over 65, Disabled Person, and 100% disabled Veteran Exemptions. It is also a good reminder to review your homeowners insurance. We can help with that. Call us at 512-345-0005.

WOMEN'S INITIATIVE NEWS

Whether you are a new or established member, the Women’s Initiative would love to welcome additional committee volunteers to help out with events and programming for this year and next. If you are interested, please send an email directly to womensinitiative@austinfpa.org . Thanks!

Margaret Casey & Tasha Rock

FPA Austin Women's Initiative Directors